Post
Topic
Board Bitcoin Discussion
Re: If Bitcoin goes past $5000, what will the Chinese government do?
by
alyssa85
on 27/09/2017, 13:18:33 UTC
I was just surprised how we reacted to the whole China closing exchanges news.

They are just one country and like other say, they will be forgotten soon enough.

The momentum that Bitcoin will unleash soon enough will indeed make this moment insignificant.

China has do what it wants, the whole world can see that Bitcoin is needed and will adopt.

It's because investors had this narrative of "1 billion people adopting bitcoin", and were ignoring that China had banned merchants from accepting bitcoin as far back as 2014, so adoption was never going to happen there. Once the price rose and people started using it for capital flight, they were bound to crack down on the exchanges too.