Re: China crackdown on BTC and will support its own cryptocurrency

Quote from: reflector on February 03, 2018, 12:55:41 PM

Quote from: Tambu on February 03, 2018, 12:32:30 PM

https://www.forbes.com/sites/sarahsu/2017/10/19/will-china-host-the-worlds-biggest-state-backed-digital-currency/#380d56461231

Though the news was on October 2017 but still relevant and could be one of the contributor why there is huge dip of BTC's price recently.

Majority of Chinese patronize their own. We cannot deny the fact that there are large of Chinese population in the market of Cryptocurrency and their absence will be a huge blow to the price of BTC and other cryptocurrencies in generals.

Most of the projects, trading sites, mining platforms are belongs to China only. Their support is must see the bitcoin and other cryptos in the high price. Atleast companies should migrate to other countries where bitcoin is legal to use.
Other countries still really looking to adapt the bitcoins but some illegal source are spread negative information about the bitcoin. So they all are fear to invest on the bitcoin.

Agreed. They are the one dominating both investing and mining part. After all these years they think that they finally got the chance to beat usd, not with their own currency but crypto currencies.