Cointelegraph asks: What’s the future of Bitcoin in China and Hong Kong?
At Inside Bitcoins Hong Kong, Cointelegraph saw the opportunity to interview several key figures in the Asian Bitcoin movement to get their views of where things may be headed with China and Bitcoin.
It is no secret that Bitcoin in China continues to have a rough ride in comparison to many other major world economies.
Bitcoin’s story over the past nine months has been marked by seismic events in the country which are purported to have caused fluctuations in price and investment across the Bitcoin ecosystem.
Cross the border into Hong Kong, on the hand, and you enter a very different scene. Here, a rapidly-growing startup scene has taken hold, seeking to offer everything from exchange services to ATMs for both Bitcoin and altcoins.
At Inside Bitcoins Hong Kong, Cointelegraph saw the perfect opportunity to interview some of the key figures in the Asian Bitcoin movement to get their views not only of the current situation, but also where things may be headed in terms of China’s position on digitial currency.
Opinion has traditionally varied considerably on the issue, and this trend appears to be continuing. While the media has been accused of overreacting to the issue of the People’s Bank of China’s clamping down on Bitcoin’s use, notably by BTC China CEO Bobby Lee who explicitly stated that Bitcoin “is legal in China,” others are less optimistic.
“In the end, I guess it will be the same; Bitcoin will be more or less banned in China,” Gatecoin’s Aurélien Menant told Cointelegraph.
One thing is agreed upon by everyone interviewed, however; that Hong Kong is looking to be a future Bitcoin hub, and that the opportunities for digital currency in the country will remain promising.
“When Hong Kong sees [Bitcoin], they will adopt it very quickly,” Coinpip’s Anson Zeall responded.
Check out the video below for the full range of responses from a variety of figures active in Bitcoin in Asia. While the thorny issue of China remains looming, there is nonetheless quiet optimism in the conference camp that all may not be lost, especially in the years going forward.
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