Quote from: Terpie on November 19, 2013, 04:58:52 PM

Quote from: revans on November 19, 2013, 04:50:51 PM

Quote from: windjc on November 19, 2013, 04:46:10 PM

Quote from: Zooey on November 19, 2013, 04:39:50 PM

You know, I do find it odd that the Chinese state hasn't been inclined to place any restrictions upon Bitcoin (the most subversive technology on the planet) when they go to particularly extensive lengths to restrict pretty much everything else. Maybe they just dropped the ball on this one, and recognise it's not really the sort that's easy to pick back up and take away, or maybe they got eyes on this early on and, while our western-dictorcrats spent all year unhelpfully dicking about with how to most regulate & adulterate Bitcoin, maybe they saw an opportunity for the taking; I wonder.

[edit; typo & I'll be looking for your report about this proof you've got + the exchanges responses (I trust you've got hold of gox staff straight away on irc, no? MagicalTux weighed in with a word?]

Maybe they are just fu**ing smarter than you. Maybe they realize that this technology could be a hedge against their US debt holdings. Or perhaps they just want Bitcoin innovations to come from China vs. some other country. I mean, China wants power. When it comes to finances they are actually very forward thinking.

How can Bitcoin be a hedge against the dollar when the dollar is the only reason Bitcoin has any value? Ask yourself what would happen to Bitcoin's price if it became impossible to convert it into the state fiat you all claim to despise? It would drop like a stone. Bitcoin needs the USD because that is where it derives its value.

No. The dollar is simply the path of least resistance to acquire bitcoin for many people. Bitcoin is valuable because it is useful to people. If what you are saying is true, then it would apply to everything that has a dollar market. I'm sure you don't think gold/oil/etc have value solely because they can convert to dollars.

You're really comparing the thing that fuels civilisation and a metal which has been highly desirable for millennia and is irreplaceable in many industries with some numbers?