Post
Topic
Board Bitcoin Discussion
Re: Bitcoin in Cnina.
by
EthanB
on 17/04/2018, 17:58:02 UTC
What do you think about this? Shift of China's attitude ...

I believe there is a typo in the title of your thread, you might want to take a look at that, because I don't know any place called "Cnina". This might be a strange new spelling that I am unaware of, so please excuse my ignorance if this is the case.

I don't think very much of this, but what I do think is that it is rather shallow and transparent. Over the span of a couple days there is a complete turnaround to how the government is viewing cryptocurrency. I believe that this was an attempt to see how much sway the Chinese government has over the Bitcoin market. They were curious how much power their words have over that particular market. I am sure they alerted their buddies of this announcement, allowing them to take positions that would result in a profit from their expected outcome. It just seems like a game that they are playing, if you ask me. I do not believe they have any plans of legislating Bitcoin in any significant, long-term way and will most likely manipulate it for their gain if possible.