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Beijing Summit: What if They Had a Bitcoin Ban and No One Cared?

If the recent issues surrounding bank account closures and domestic media warnings were supposed to scare Chinese attendees away from the two-day Global Bitcoin Summit starting in Beijing Saturday, someone forgot to tell everyone.


The main 400-seat auditorium was regularly full on the first day for the event’s keynote speakers, which included Roger Ver, Aaron Koenig of the Global Bitcoin Alliance, and Wang Wei of the Chinese Museum of Finance.


The overall tone was not so much defiance, but apathy towards greater regulation.


Summit_guide Beijing


While Bobby Lee of BTC China was noticeably absent from the day’s lineup, attendees remained focused on the future and dedicated to the cause.


Both the size and mood of the crowd confirmed what several of CoinDesk’s local Chinese sources have been saying for a while: the community at large is tired of hearing about banks vs. exchanges, and wants to keep building.


How exactly they plan to do this without fiat gateways will be a discussion point tomorrow and in the coming months.


China is big, in every sense


The huge China National Convention Center, located just across the road from Beijing’s 2008 Olympic main stadium, also highlighted just how niche bitcoin still remains in the overall Chinese economy, which is still booming.


The bitcoin summit itself took up a relatively small space at the back of the second floor. Attendees passed massive franchising and marketing conventions, each with their own collection of booths and babes, before even seeing a bitcoin logo.


Regulation not an issue


Regulatory issues were barely touched upon, if mentioned at all, during Roger Ver’s keynote. Stressing once again the utterly voluntary nature of the bitcoin economy, he told the audience his mission was now more that of a promoter of bitcoin’s cause around the world.


“I’m pretty much done investing in bitcoin startups. But if you know some good ones I’m always very happy to introduce you to the right people,” he said, when asked if he intended to invest further in Chinese companies.


Roger Ver speaks in BeijingRoger Ver speaks in Beijing

On the topic of which companies he predicted would succeed in future, Ver said “it’s still too early to tell” – comparing the landscape to search engines in the late 1990s, when it was still unclear whether Lycos, Yahoo or Altavista would dominate in future years. He continued:


“But somebody’s going to work it out. Somebody’s going to do it right.”


Chinese companies were continuing to do well, he added, “I’m often more impressed with Chinese bitcoin exchanges than I am with some of the US and European exchanges.”


Harry Zhou, an Associate with White & Case LLP, gave another presentation on regulation-specific issues, but chose to speak generally instead of referring to current events directly.


Comparing the legal situation in China to that in the US, he drew key differences between each country’s definition of ‘legal tender’, as well as the US’s federal system and competing state jurisdictions.


In China, he said, the renminbi is the only legal tender and that is sacrosanct – even precious metals are not allowed. In the US, however, alternative local barter systems and gold and silver are tolerated even though the US dollar remained the only official legal tender.


Other features


Other international guests on the day’s speaking agenda were Ethereum’s Vitalik Buterin and Anthony di Iorio from the Bitcoin Alliance of Canada.


Ethereum's Vitalik Buterin & Ethan Wilding in BeijingEthereum’s Vitalik Buterin & Ethan Wilding in Beijing

While some booths marked with exchange names (like CHBTC) were empty, other local startups filled the spaces. We saw secure wallet Bifubao, mining equipment maker Gridseed Technology Ltd, and even a couple of OKCoin-branded ATMs.


Representing the alt universe was Zetacoin, promoting its Swiss-built payment infrastructure designed for countries like Kenya.


OKCoin_ATMs


Beijing’s Global Bitcoin Summit continues Sunday.


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{"props":{"pageProps":{"data":{"headline":"Beijing Summit: What if They Had a Bitcoin Ban and No One Cared?","slug":"beijing-summit-bitcoin-ban-no-one-cared","id":83698,"type":"news","typeName":"story","excerpt":"By attendance alone, Beijing's first major bitcoin conference is a raging success despite fears of increasing regulatory pressure.","category":{"name":"Business","slug":"business"},"published":"2014-05-11T09:33:31","updated":"2014-05-12T11:58:03","_post_type":"post","authors":[{"imgSrc":"https://secure.gravatar.com/avatar/0040569293385d52139693da02dea579?s=200\u0026#038;d=mm\u0026#038;r=g","socialAccounts":[{"type":"twitter","url":"https://twitter.com/southtopia"}],"name":"Jon Southurst","slug":"jon-southurst","email":"southurst@gmail.com"}],"media":{"type":"image","images":{"id":83700,"alt":"conference_audience","source":"","url":"","mime":"image/jpeg","full":{"src":"https://static.coindesk.com/wp-content/uploads/2014/05/Conference_audience.jpg","width":1000,"height":750},"desktop":{"src":"https://static.coindesk.com/wp-content/uploads/2014/05/Conference_audience-710x458.jpg","width":710,"height":458},"mobile":{"src":"https://static.coindesk.com/wp-content/uploads/2014/05/Conference_audience-345x222.jpg","width":345,"height":222},"mobile@2x":{"src":"https://static.coindesk.com/wp-content/uploads/2014/05/Conference_audience-690x444.jpg","width":690,"height":444},"mobile@3x":{"src":"https://static.coindesk.com/wp-content/uploads/2014/05/Conference_audience-1000x666.jpg","width":1000,"height":666}}},"tags":[{"name":"China","slug":"/tag/china","href":"/tag/[tag]"},{"name":"BTC China","slug":"/tag/btc-china","href":"/tag/[tag]"},{"name":"Asia","slug":"/tag/asia","href":"/tag/[tag]"},{"name":"Bobby Lee","slug":"/people/bobby-lee","href":"/people/[slug]"},{"name":"News","slug":"/tag/news","href":"/tag/[tag]"},{"name":"Events","slug":"/tag/events","href":"/tag/[tag]"}],"primaryTag":{"name":"China","slug":"/tag/china","href":"/tag/[tag]"},"body":"\u003cp\u003eIf the recent issues surrounding \u003ca href=\"/worlds-largest-bank-icbc-latest-block-bitcoin-china/\"\u003ebank account closures\u003c/a\u003e and domestic \u003ca href=\"/china-orders-media-silence-on-global-bitcoin-summit/\"\u003emedia warnings\u003c/a\u003e were supposed to scare Chinese attendees away from the two-day \u003ca href=\"http://www.globalbtcsummit.com/en/\" target=\"_blank\"\u003eGlobal Bitcoin Summit\u003c/a\u003e starting in Beijing Saturday, someone forgot to tell everyone.\u003c/p\u003e\n\u003cp\u003eThe main 400-seat auditorium was regularly full on the first day for the event\u0026#8217;s keynote speakers, which included Roger Ver, Aaron Koenig of the \u003ca href=\"http://www.global-bitcoin-alliance.org/\" target=\"_blank\"\u003eGlobal Bitcoin Alliance\u003c/a\u003e, and Wang Wei of the Chinese Museum of Finance.\u003c/p\u003e\n\u003cp\u003eThe overall tone was not so much defiance, but apathy towards greater regulation.\u003c/p\u003e\n\u003cp style=\"text-align: center;\"\u003e\u003ca href=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg\"\u003e\u003cimg class=\"aligncenter wp-image-83706\" alt=\"Summit_guide Beijing\" src=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg\" width=\"567\" height=\"426\" srcset=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg 709w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-156x117.jpg 156w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-90x68.jpg 90w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-105x79.jpg 105w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-348x260.jpg 348w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-200x150.jpg 200w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-350x263.jpg 350w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-419x314.jpg 419w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-270x203.jpg 270w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-389x292.jpg 389w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-267x200.jpg 267w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-179x134.jpg 179w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-512x384.jpg 512w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-345x259.jpg 345w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-690x518.jpg 690w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-380x285.jpg 380w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-285x214.jpg 285w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-570x428.jpg 570w\" sizes=\"(max-width: 567px) 100vw, 567px\" /\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eWhile \u003ca href=\"/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/\"\u003eBobby Lee\u003c/a\u003e of \u003ca href=\"https://vip.btcchina.com/\" target=\"_blank\"\u003eBTC China\u003c/a\u003e was noticeably absent from the day\u0026#8217;s lineup, attendees remained focused on the future and dedicated to the cause.\u003c/p\u003e\n\u003cp\u003eBoth the size and mood of the crowd confirmed what several of CoinDesk\u0026#8217;s local Chinese sources have been saying for a while: the community at large is tired of hearing about banks vs. exchanges, and wants to keep building.\u003c/p\u003e\n\u003cp\u003eHow exactly they plan to do this without fiat gateways will be a discussion point tomorrow and in the coming months.\u003c/p\u003e\n\u003ch2\u003eChina is big, in every sense\u003c/h2\u003e\n\u003cp\u003eThe huge China National Convention Center, located just across the road from Beijing\u0026#8217;s 2008 Olympic main stadium, also highlighted just how niche bitcoin still remains in the overall Chinese economy, which is still booming.\u003c/p\u003e\n\u003cp\u003eThe bitcoin summit itself took up a relatively small space at the back of the second floor. Attendees passed massive franchising and marketing conventions, each with their own collection of booths and babes, before even seeing a bitcoin logo.\u003c/p\u003e\n\u003ch2\u003eRegulation not an issue\u003c/h2\u003e\n\u003cp\u003eRegulatory issues were barely touched upon, if mentioned at all, during Roger Ver\u0026#8217;s keynote. Stressing once again the utterly voluntary nature of the bitcoin economy, he told the audience his mission was now more that of a promoter of bitcoin\u0026#8217;s cause around the world.\u003c/p\u003e\n\u003cp\u003e\u0026#8220;I\u0026#8217;m pretty much done investing in bitcoin startups. But if you know some good ones I\u0026#8217;m always very happy to introduce you to the right people,\u0026#8221; he said, when asked if he intended to invest further in Chinese companies.\u003c/p\u003e\n\u003cdiv id=\"attachment_83702\" class=\"wp-caption aligncenter\"\u003e\u003cdiv class=\"image-container width-576\"\u003e\u003ca href=\"https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072.jpg\"\u003e\u003cimg class=\" wp-image-83702 \" alt=\"Roger Ver speaks in Beijing\" src=\"https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072.jpg\" width=\"576\" height=\"432\" srcset=\"https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072.jpg 800w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-768x576.jpg 768w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-156x117.jpg 156w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-728x546.jpg 728w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-780x585.jpg 780w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-90x68.jpg 90w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-105x79.jpg 105w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-348x260.jpg 348w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-200x150.jpg 200w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-350x263.jpg 350w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-419x314.jpg 419w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-270x203.jpg 270w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-389x292.jpg 389w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-267x200.jpg 267w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-179x134.jpg 179w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-512x384.jpg 512w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-345x259.jpg 345w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-690x518.jpg 690w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-775x581.jpg 775w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-380x285.jpg 380w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-285x214.jpg 285w, https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072-570x428.jpg 570w\" sizes=\"(max-width: 576px) 100vw, 576px\" /\u003e\u003c/a\u003e\u003cspan class=\"wp-caption-text\"\u003eRoger Ver speaks in Beijing\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\n\u003cp\u003eOn the topic of which companies he predicted would succeed in future, Ver said \u0026#8220;it\u0026#8217;s still too early to tell\u0026#8221; – comparing the landscape to search engines in the late 1990s, when it was still unclear whether Lycos, Yahoo or Altavista would dominate in future years. He continued:\u003c/p\u003e\n\u003cblockquote\u003e\u003cp\u003e\u0026#8220;But somebody\u0026#8217;s going to work it out. Somebody\u0026#8217;s going to do it right.\u0026#8221;\u003c/p\u003e\u003c/blockquote\u003e\n\u003cp\u003eChinese companies were continuing to do well, he added, \u0026#8220;I\u0026#8217;m often more impressed with Chinese bitcoin exchanges than I am with some of the US and European exchanges.\u0026#8221;\u003c/p\u003e\n\u003cp\u003eHarry Zhou, an Associate with White \u0026amp; Case LLP, gave another presentation on regulation-specific issues, but chose to speak generally instead of referring to current events directly.\u003c/p\u003e\n\u003cp\u003eComparing the legal situation in China to that in the US, he drew key differences between each country\u0026#8217;s definition of \u0026#8216;legal tender\u0026#8217;, as well as the US\u0026#8217;s federal system and competing state jurisdictions.\u003c/p\u003e\n\u003cp\u003eIn China, he said, the renminbi is the only legal tender and that is sacrosanct – even precious metals are not allowed. In the US, however, alternative local barter systems and gold and silver are tolerated even though the US dollar remained the only official legal tender.\u003c/p\u003e\n\u003ch2\u003eOther features\u003c/h2\u003e\n\u003cp\u003eOther international guests on the day\u0026#8217;s speaking agenda were \u003ca href=\"http://ethereum.org\" target=\"_blank\"\u003eEthereum\u0026#8217;s\u003c/a\u003e Vitalik Buterin and Anthony di Iorio from the \u003ca href=\"http://www.bitcoinalliance.ca/\" target=\"_blank\"\u003eBitcoin Alliance of Canada\u003c/a\u003e.\u003c/p\u003e\n\u003cdiv id=\"attachment_83708\" class=\"wp-caption aligncenter\"\u003e\u003cdiv class=\"image-container width-496\"\u003e\u003ca href=\"https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik.jpg\"\u003e\u003cimg class=\" wp-image-83708\" alt=\"Ethereum's Vitalik Buterin \u0026amp; Ethan Wilding in Beijing\" src=\"https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik.jpg\" width=\"496\" height=\"372\" srcset=\"https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik.jpg 709w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-156x117.jpg 156w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-90x68.jpg 90w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-105x79.jpg 105w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-348x260.jpg 348w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-200x150.jpg 200w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-350x263.jpg 350w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-419x314.jpg 419w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-270x203.jpg 270w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-389x292.jpg 389w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-267x200.jpg 267w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-179x134.jpg 179w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-512x384.jpg 512w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-345x259.jpg 345w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-690x518.jpg 690w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-380x285.jpg 380w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-285x214.jpg 285w, https://www.coindesk.com/wp-content/uploads/2014/05/Vitalik-570x428.jpg 570w\" sizes=\"(max-width: 496px) 100vw, 496px\" /\u003e\u003c/a\u003e\u003cspan class=\"wp-caption-text\"\u003eEthereum\u0026#8217;s Vitalik Buterin \u0026amp; Ethan Wilding in Beijing\u003c/span\u003e\u003c/div\u003e\u003c/div\u003e\n\u003cp\u003eWhile some booths marked with exchange names (like CHBTC) were empty, other local startups filled the spaces. We saw secure wallet \u003ca href=\"/bifubaos-wallet-users-can-prove-funds-via-cryptography/\"\u003eBifubao\u003c/a\u003e, mining equipment maker \u003ca href=\"http://www.gridseed.com\" target=\"_blank\"\u003eGridseed Technology Ltd\u003c/a\u003e, and even a couple of OKCoin-branded ATMs.\u003c/p\u003e\n\u003cp\u003eRepresenting the alt universe was \u003ca href=\"http://zetacoin.cc/\" target=\"_blank\"\u003eZetacoin\u003c/a\u003e, promoting its Swiss-built payment infrastructure designed for countries like Kenya.\u003c/p\u003e\n\u003cp style=\"text-align: center;\"\u003e\u003ca href=\"https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs.jpg\"\u003e\u003cimg class=\"aligncenter wp-image-83704\" alt=\"OKCoin_ATMs\" src=\"https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs.jpg\" width=\"567\" height=\"426\" srcset=\"https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs.jpg 709w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-156x117.jpg 156w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-90x68.jpg 90w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-105x79.jpg 105w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-348x260.jpg 348w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-200x150.jpg 200w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-350x263.jpg 350w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-419x314.jpg 419w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-270x203.jpg 270w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-389x292.jpg 389w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-267x200.jpg 267w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-179x134.jpg 179w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-512x384.jpg 512w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-345x259.jpg 345w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-690x518.jpg 690w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-380x285.jpg 380w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-285x214.jpg 285w, https://www.coindesk.com/wp-content/uploads/2014/05/OKCoin_ATMs-570x428.jpg 570w\" sizes=\"(max-width: 567px) 100vw, 567px\" /\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eBeijing\u0026#8217;s Global Bitcoin Summit continues Sunday.\u003c/p\u003e\n","amp":"\u003cp\u003eIf the recent issues surrounding \u003ca href=\"/worlds-largest-bank-icbc-latest-block-bitcoin-china/?amp\" rel=\"amphtml\"\u003ebank account closures\u003c/a\u003e and domestic \u003ca href=\"/china-orders-media-silence-on-global-bitcoin-summit/?amp\" rel=\"amphtml\"\u003emedia warnings\u003c/a\u003e were supposed to scare Chinese attendees away from the two-day \u003ca href=\"http://www.globalbtcsummit.com/en/\" target=\"_blank\"\u003eGlobal Bitcoin Summit\u003c/a\u003e starting in Beijing Saturday, someone forgot to tell everyone.\u003c/p\u003e\n\u003cp\u003eThe main 400-seat auditorium was regularly full on the first day for the event’s keynote speakers, which included Roger Ver, Aaron Koenig of the \u003ca href=\"http://www.global-bitcoin-alliance.org/\" target=\"_blank\"\u003eGlobal Bitcoin Alliance\u003c/a\u003e, and Wang Wei of the Chinese Museum of Finance.\u003c/p\u003e\n\u003cp\u003eThe overall tone was not so much defiance, but apathy towards greater regulation.\u003c/p\u003e\n\u003cp class=\"amp-wp-cdd8ca0\"\u003e\u003ca href=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg\"\u003e\u003camp-img class=\"aligncenter wp-image-83706 amp-wp-enforced-sizes\" alt=\"Summit_guide Beijing\" src=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg\" width=\"567\" height=\"426\" srcset=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg 709w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-156x117.jpg 156w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-90x68.jpg 90w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-105x79.jpg 105w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-348x260.jpg 348w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-200x150.jpg 200w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-350x263.jpg 350w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-419x314.jpg 419w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-270x203.jpg 270w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-389x292.jpg 389w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-267x200.jpg 267w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-179x134.jpg 179w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-512x384.jpg 512w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-345x259.jpg 345w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-690x518.jpg 690w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-380x285.jpg 380w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-285x214.jpg 285w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-570x428.jpg 570w\" layout=\"intrinsic\"\u003e\u003cnoscript\u003e\u003cimg class=\"aligncenter wp-image-83706\" alt=\"Summit_guide Beijing\" src=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg\" width=\"567\" height=\"426\" srcset=\"https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide.jpg 709w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-156x117.jpg 156w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-90x68.jpg 90w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-105x79.jpg 105w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-348x260.jpg 348w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-200x150.jpg 200w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-350x263.jpg 350w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-419x314.jpg 419w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-270x203.jpg 270w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-389x292.jpg 389w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-267x200.jpg 267w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-179x134.jpg 179w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-512x384.jpg 512w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-345x259.jpg 345w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-690x518.jpg 690w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-380x285.jpg 380w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-285x214.jpg 285w, https://www.coindesk.com/wp-content/uploads/2014/05/Summit_guide-570x428.jpg 570w\" sizes=\"(max-width: 567px) 100vw, 567px\"\u003e\u003c/noscript\u003e\u003c/amp-img\u003e\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003eWhile \u003ca href=\"/bobby-lee-brock-pierce-join-bitcoin-foundations-board-directors/?amp\" rel=\"amphtml\"\u003eBobby Lee\u003c/a\u003e of \u003ca href=\"https://vip.btcchina.com/\" target=\"_blank\"\u003eBTC China\u003c/a\u003e was noticeably absent from the day’s lineup, attendees remained focused on the future and dedicated to the cause.\u003c/p\u003e\n\u003cp\u003eBoth the size and mood of the crowd confirmed what several of CoinDesk’s local Chinese sources have been saying for a while: the community at large is tired of hearing about banks vs. exchanges, and wants to keep building.\u003c/p\u003e\n\u003cp\u003eHow exactly they plan to do this without fiat gateways will be a discussion point tomorrow and in the coming months.\u003c/p\u003e\n\u003ch2\u003eChina is big, in every sense\u003c/h2\u003e\n\u003cp\u003eThe huge China National Convention Center, located just across the road from Beijing’s 2008 Olympic main stadium, also highlighted just how niche bitcoin still remains in the overall Chinese economy, which is still booming.\u003c/p\u003e\n\u003cp\u003eThe bitcoin summit itself took up a relatively small space at the back of the second floor. Attendees passed massive franchising and marketing conventions, each with their own collection of booths and babes, before even seeing a bitcoin logo.\u003c/p\u003e\n\u003ch2\u003eRegulation not an issue\u003c/h2\u003e\n\u003cp\u003eRegulatory issues were barely touched upon, if mentioned at all, during Roger Ver’s keynote. Stressing once again the utterly voluntary nature of the bitcoin economy, he told the audience his mission was now more that of a promoter of bitcoin’s cause around the world.\u003c/p\u003e\n\u003cp\u003e“I’m pretty much done investing in bitcoin startups. But if you know some good ones I’m always very happy to introduce you to the right people,” he said, when asked if he intended to invest further in Chinese companies.\u003c/p\u003e\n\u003cdiv id=\"attachment_83702\" class=\"wp-caption aligncenter\"\u003e\u003cdiv class=\"image-container width-576\"\u003e\u003ca href=\"https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072.jpg\"\u003e\u003camp-img class=\"wp-image-83702 amp-wp-enforced-sizes\" alt=\"Roger Ver speaks in Beijing\" src=\"https://www.coindesk.com/wp-content/uploads/2014/05/DSCF1072.jpg\" width=\"576\" height=\"432\" srcs

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