Quote from: qwertyup23 on November 01, 2022, 03:25:26 PM

Quote from: lhrbeijing on October 25, 2022, 03:11:13 AM

I am bullish on the future of Bitcoin as a technology.

We all know that China has a total ban on cryptocurrencies, including but not limited to no mining, no circulation, no trading, no banking services, no listing on exchanges.

What do you think countries have to lose by making this choice?

Of course, they are losing on this opportunity to have access to a revolutionized technology that may potentially be utilized by more countries in the future. Like what most have mentioned, China is a communist country. This means that the government has absolute control over the properties and services that businesses offer. Since BTC and cryptocurrencies introduce freedom of payment, it is nothing but obvious for them to prohibit something that cannot be controlled or regulated.

I just hope that the loss of China means the gain of other countries. For example, El Salvador has already made BTC as their legal tender; and more countries have started to integrate BTC to their economics and financials.

It is hard to say that they are losing access to the technology of the future since they are still one of the biggest countries in the world, has the fastest growing economy today. If they accept bitcoin, what they will lose is control, they will not be able to fully control their citizens. That's what they fear the most.

Currently, it can be said that bitcoin is benefiting investors, companies or organizations because of the profits it brings. As for the impact of bitcoin on the economy or development of a country, bitcoin has not yet achieved that. I think China has banned bitcoin but they are still watching what other countries will do with bitcoin, they can still change their mind when they see benefits from bitcoin.