Quote from: pjcaruci on August 07, 2019, 11:00:55 AM

China will definitely accept bitcoin, but hardly as the main currency in the country, because their goal is to make the yuan a world currency

Indeed but they won't make it, because Bitcoin is here. Their aim with Yuan is replace the USD, as in, why it is the Americans that can print unnoticed and not us? Of course its not really unnoticed, but its true that the USD has some sort of unfair advantage. However, Yuan or any other centralized fiat is not the answer. Bitcoin is.

Their coin was already accepted by the IMF, and its quite strong among the fiat coins (which are all garbage in my opinion anyway, but of course none can surpass ours in that

)

So i think first they will lift the ban and add heavy regulations like many other countries do, and perhaps in some decades accept it more. China will probably take longer due to their political system. but even within their communist party, there is a generational change. Some people in there will get it.

US Tradewars? That is ending with Trump, and Trump period ends either next year after 4 years more. Unlike my country, where any moron with enough power can nail itself to the chair and condemn the people to endless misery unchallenged (and concentrate all the power because no one can challenge them after the fact).

By either 2020 or 2024, the Chinese will be more open to Bitcoin, even if they lauch their own "crypto". Main reason is that they probably won't make their own coin decentralized, because if there is something socialists are against, is decentralization. They want everything controlled from a central power. But China knows better than anyone how bad that turns out (see famine under Mao).

IF they make a coin nearly like Bitcoin, or a Bitcoin clone, then things could be a bit more challenging. Indeed any country could take Bitcoin, and just rename it and make it theirs. Litecoin and others isn't too far from that, or most altcoins for that matter. Everyone thinks Bitcoin has a problem, and they change it with what they see as the "solution". But perhaps there was never a problem in the first place, OR, the problem is there but the solution is overkill and ended weakening another crucial area.

But so far government issued altcoins has not been any better than most other altcoins, in fact, so far, they have been worse than the average. Thus they fail to attract the attention of the people, who find themselves more inconvenience than just sticking to the government issued fiat. Or go straight to the real thing which is Bitcoin anyway they can.