Quote from: anu on May 05, 2013, 08:25:33 PM

Quote from: BitPirate on May 05, 2013, 06:05:05 AM

Quote from: hugolp on May 05, 2013, 05:52:20 AM

Quote from: Flappy on May 05, 2013, 05:28:15 AM

Chinese government likes bitcoin for the same reasons it likes precious metals. They want to bring wealth into the country.

And China will promote anything tha hurts us dollars dominance over the world.

If I had to bet, China gov will support Bitcoin as long as it helps bring down dollar dominance and then turn strongly against it if that ever happens.

Bear in mind that China's vast foreign reserves are largely denominated in US dollars. They're likely not as keen as you think to see them drop in value.

They have written off their paper $ assets already - there is no way they can get anything for 1 Trillion of bonds and money anywhere. They will use it any way they see fit.

Actually, if they can inject just $1 billion into this market it will explode, which is pocket change for them.