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A possible BitCoin renaissance ?

Discussion in 'Bitcoin Forum' started by TomB16, Aug 6, 2019.

  1. TomB16

    TomB16 Active Member

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    I'm not a BitCoin guy so this is not based on anything other than idea but I expect China's currency devaluation to pump up a pretty big BitCoin balloon.

    It's illegal to trade BitCoin in China but I understand people still do it.

    BitCoin seems to be one of the few hedges Chinese have against a devaluation effort.
     
    Onepoint272 likes this.
  2. StockJock-e

    StockJock-e Brew Master
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    Every time some currency or country has issues, they always pitch the "this is good for bitcoin" story.

    Truthfully most of the people who buy into this are already bitcoin traders and not your average Joe trying to hedge a currency.
     
    TomB16 and Onepoint272 like this.
  3. TomB16

    TomB16 Active Member

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    Indeed, your assessment is right on. BTC price seems to have been stable over the last 4 days.

    It would seem, reports of Chinese using BTC as a currency hedge is demonstrably a fallacy.
     

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