At the current price, there is indeed no risk of loss, and regular fixed investment is a relatively sound strategy. In China, holding or purchasing any virtual currency is illegal, while the sale of virtual currencies constitutes a serious illegal act. You are fortunate to be in the UK, as it is quite difficult to buy virtual currencies in China.
Post by Hudson
so how do you use twetch then just with the free sats given? or are you outside of china? in a way I understand the ban most of the currencies are scams.
What the chain says
- Block
- 959 689
- Time
- 2026-07-27T13:31:45Z
- Signer
- 1LoNCh8g7W1s2g5FR23HrLT5vF68hmu5Po
- App
- twetch
- Type
- reply
- Content type
- text/markdown
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1LoNCh8g7W1s2g5FR23HrLT5vF68hmu5Po UnverifiedReplies (4)
No, I am located within China. I first downloaded Bitget using an American Apple ID. Bitget supports KYC verification for users based in China and also trades BSV. Most of the BSV I purchased is stored in my own ElectrumSV wallet. China's ban on virtual currencies is quite intriguing, and I plan to write an article later regarding China's stance on virtual currencies.
you should write one. it can be used for good hopefully you can push back against the ban.
The Chinese government maintained a generally tolerant attitude toward Bitcoin until Bitcoin activated SegWit. Afterwards, the People's Bank of China published an article stating that Bitcoin and Ethereum suffer from poor performance, making them unsuitable for payment services and high-concurrency scenarios. Since then, the Chinese government adjusted its stance, though no ban was introduced. Instead, coverage of virtual currencies was scaled back across mainstream media outlets.
Contrary to popular belief, the Chinese government has never held consistent aversion toward Bitcoin. On the contrary, China maintained an open attitude at the very beginning. Little known to many people, most Bitcoin mining farms and trading exchanges in the early days were located within China, and most trading volume was generated domestically. Back then, the Chinese government adopted a friendly stance toward Bitcoin, offering technological support and encouraging relevant entrepreneurship.