Chinese government says Bitcoin cannot be used as currency
1–10 of 32 posts
Re: Chinese government says Bitcoin cannot be used as currency
#2What exactly does that mean? Is it illegal to, say, pay for a house in eggs (I give you 1 million eggs for this house)? Any kind of barter is illegal?
Re: Chinese government says Bitcoin cannot be used as currency
#3What exactly does that mean? Is it illegal to, say, pay for a house in eggs (I give you 1 million eggs for this house)? Any kind of barter is illegal?
China has a pseudo-controlled economic system. Coupled with the reality that most Bitcoin transactions are traceable, this law effectively kills Bitcoin as a viable currency in China — for now.
Re: Chinese government says Bitcoin cannot be used as currency
#4What exactly does that mean? Is it illegal to, say, pay for a house in eggs (I give you 1 million eggs for this house)? Any kind of barter is illegal?
You can't reason with the guys with the guns.
Re: Chinese government says Bitcoin cannot be used as currency
#5This was very much expected as China has strict financial liquidity controls and bitcoin was being used expressly to bypass the same and take money out of the system. The Chinese government isn't stupid.
Re: Chinese government says Bitcoin cannot be used as currency
#6This was very much expected as China has strict financial liquidity controls and bitcoin was being used expressly to bypass the same and take money out of the system. The Chinese government isn't stupid.
Yeah, no sane person would have expected BTC to become legal tender in China soon. Very nice that they acknowledge BTC and say that trading it is fine. This is really good news and the article is just trying to make up a negative story.
Re: Chinese government says Bitcoin cannot be used as currency
#7Is this current crash related to this news?
Re: Chinese government says Bitcoin cannot be used as currency
#8What exactly does that mean? Is it illegal to, say, pay for a house in eggs (I give you 1 million eggs for this house)? Any kind of barter is illegal?
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Re: Chinese government says Bitcoin cannot be used as currency
#9What exactly does that mean? Is it illegal to, say, pay for a house in eggs (I give you 1 million eggs for this house)? Any kind of barter is illegal?
In addition of other comments about Chinese economic control.
There is plenty of regulation for bartering in most countries. Like for a house, you local IRS will have something to say if you exchange your house and dodge taxes like that.
Taxes is the key issue in our economies.
Re: Chinese government says Bitcoin cannot be used as currency
#10I am still waiting for bitcoin to crash.. it going to be fucking epic..so much fun