Bitcoin Can Disappear in China

     In China the Bitcoins trade is disappearing because of the hardness that the Chinese government has had in its legalization. However, the country has managed to do more mining in the national territory.

     The dispute exists on the use that will be given to Bitcoin in China, whether it is used as a commodity or as a digital currency. The majority of the people of this country prefer the second option since it would greatly benefit the online payment of many products and services, besides being able to carry out transactions between the people of the country or with people from other countries. These same users are in favor of the digital currency and gave a great welcome to the new bifurcation of Bitcoin, Bitcoin Cash.

     Many people in China Buy Bitcoins and now buy Bitcoin cash looking for digital currencies to gain more popularity and the government has the option of legalizing it. Another small part of the population claims that mining must be perfected and the digital currency forgotten and the new digital currency does not offer a great future, since its price is around $ 300.

     Although the discord is wide and it seems that those who want the digital currency are majority. Seventy percent of engineers and entrepreneurs prefer mining as it also operates globally and includes ease of transactions. However, it is somewhat ironic what has been happening in China because the digital currency market has been disappointing but the government and other entrepreneurs find the Blockchain system very interesting. Some time ago an expert of the central bank of China expressed that the Bitcoin can be active but it is useless to carry out transactions.

     However, users do not give up yet and expect the government to reconsider its decision not to make the digital currency legal. Other experts wanted the IMF to intervene with Bitcoin in China but this was ignored.

     In this way China maintains its commitment with its citizens to continue studying the advance of the technologies to develop them and to make them better and better. Block chains are a system that has greatly aroused their interest and have even proposed to develop their own block chain for other internal uses.