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Jiasule is just a little company (service) Baidu acquired August. This decision is probably made by this independent company, not by the main company Baidu. And

Jiasule is just a little company (service) Baidu acquired August. This decision is probably made by this independent company, not by the main company Baidu. And other services Baidu provide doesn't accept Bitcoin. I couldn't imagine any big company in China will officially accept Bitcoin in the future at all.

waterlesscloud 13y ago
"I couldn't imagine any big company in China will officially accept Bitcoin in the future at all." What do you base this belief on?
- devcpp 13y ago
  I share that opinion so I'll answer. IMO, China letting control over currency just slip away is as realistic as China letting control over anything slip away. AFAIK it's still an authoritarian state. It could happen (it has a relatively free economy after all) but it's not consistent with China.
  - sillysaurus2 13y ago
    You know, I wonder what China thinks about us. Surely they don't see themselves as an authoritarian control-monger. So what do they believe we are?
    - thaumasiotes 13y ago
      > Surely they don't see themselves as an authoritarian control-monger. Why do you believe this? There's a very long chinese tradition of vesting control in the social hierarchy. "Authoritarian control-monger" may be dirty language in the US, but not everywhere.
- lispython 13y ago
  This country is tightly controlled by the government. The Internet is an example. The GFW (http://en.wikipedia.org/wiki/Golden_Shield_Project http://en.wikipedia.org/wiki/Golden_Shield_Project) surveillance all connections in China like NSA but since 10 years ago and people are used to it. Even large payment companies in China (like Alipay) could do litter about economic innovation, they have to obey the rules set by the government and bank. Any big company in China could challenge these rules by using a method which independent of any central authority in the future? I don't think so.
  - 27182818284 13y ago
    >This country is tightly controlled by the government. Strange, I always hear quite the opposite. That everything is simply too big at this point and although there is the appearance of a big controlling force, there really isn't one anymore.
    - fennecfoxen 13y ago
      Above-the-counter currency-exchanges are still pretty heavily regulated by the Chinese government. See, the ongoing China scam works like this: * traditional Chinese culture would have the children care for their parents and grandparents in their old age * one-child policy means that each child has two parents and four grandparents to care for exclusively, so that's not going to work out so well, therefore: * everyone saves like crazy * the state-run banks pay negative real interest rates (less than inflation) * the state-run banks loan to big state-owned firms at negative real interest rates (and you can do amazing things when paying for capital at negative interest rates) * the people in charge of the state-owned firms live lavish lifestyles off the profits and provide political support for the regime * from time to time the government has to work to suppress riots over high food prices and other consequences of inflation This breaks down if the ordinary people can get hold of a currency that isn't full of inflation. So, capital controls limit how many dollars people can get a hold of. Of course, Bitcoin in the mix could be interesting. Or rendered illegal. Or both.
      - thaumasiotes 13y ago
        > one-child policy means that each child has two parents and four grandparents to care for exclusively, so that's not going to work out so well Some on-the-ground experience with China would indicate that the one-child policy has basically no effect on the number of children per couple. As would the international fertility stats. Most recently, I asked a group of chinese software developers about the policy. They went around the table admitting they weren't only children.
        mikeash 13y ago
deleted 13y ago
[deleted]

waterlesscloud 13y ago

"I couldn't imagine any big company in China will officially accept Bitcoin in the future at all." What do you base this belief on?

devcpp 13y ago
I share that opinion so I'll answer. IMO, China letting control over currency just slip away is as realistic as China letting control over anything slip away. AFAIK it's still an authoritarian state. It could happen (it has a relatively free economy after all) but it's not consistent with China.
- sillysaurus2 13y ago
  You know, I wonder what China thinks about us. Surely they don't see themselves as an authoritarian control-monger. So what do they believe we are?
  - thaumasiotes 13y ago
    > Surely they don't see themselves as an authoritarian control-monger. Why do you believe this? There's a very long chinese tradition of vesting control in the social hierarchy. "Authoritarian control-monger" may be dirty language in the US, but not everywhere.
lispython 13y ago
This country is tightly controlled by the government. The Internet is an example. The GFW (http://en.wikipedia.org/wiki/Golden_Shield_Project http://en.wikipedia.org/wiki/Golden_Shield_Project) surveillance all connections in China like NSA but since 10 years ago and people are used to it. Even large payment companies in China (like Alipay) could do litter about economic innovation, they have to obey the rules set by the government and bank. Any big company in China could challenge these rules by using a method which independent of any central authority in the future? I don't think so.
- 27182818284 13y ago
  >This country is tightly controlled by the government. Strange, I always hear quite the opposite. That everything is simply too big at this point and although there is the appearance of a big controlling force, there really isn't one anymore.
  - fennecfoxen 13y ago
    Above-the-counter currency-exchanges are still pretty heavily regulated by the Chinese government. See, the ongoing China scam works like this: * traditional Chinese culture would have the children care for their parents and grandparents in their old age * one-child policy means that each child has two parents and four grandparents to care for exclusively, so that's not going to work out so well, therefore: * everyone saves like crazy * the state-run banks pay negative real interest rates (less than inflation) * the state-run banks loan to big state-owned firms at negative real interest rates (and you can do amazing things when paying for capital at negative interest rates) * the people in charge of the state-owned firms live lavish lifestyles off the profits and provide political support for the regime * from time to time the government has to work to suppress riots over high food prices and other consequences of inflation This breaks down if the ordinary people can get hold of a currency that isn't full of inflation. So, capital controls limit how many dollars people can get a hold of. Of course, Bitcoin in the mix could be interesting. Or rendered illegal. Or both.
    - thaumasiotes 13y ago
      > one-child policy means that each child has two parents and four grandparents to care for exclusively, so that's not going to work out so well Some on-the-ground experience with China would indicate that the one-child policy has basically no effect on the number of children per couple. As would the international fertility stats. Most recently, I asked a group of chinese software developers about the policy. They went around the table admitting they weren't only children.
      - mikeash 13y ago

deleted 13y ago

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