Topic: Bitcoin Is A Big Threat According To China (Read 1242 times)
I don't think China is an example for anything. They are well known for their extreme pursuit for control, so bitcoin is obviously a thread to them. It's not just something they cannot control, is something they cannot control and that directly affects their financial system. I don't really think they will find an easy way to deal with it, and this ICO ban and exchange suspension, was their best way to buy some time and try to figure out what to do. I think they know that if they go for the complete ban, and make bitcoin and all crypto illegal, they will probably create their worst nightmare, since bitcoin was made to completely bypass governments and banks altogether. I think their best chance is to try to regulate it a bit, and hope its citizens agree with those regulations and choose to obey and accept them.
Well I agree with you, mate.
This does not only apply to China but with the rest of the world because all governments across nations desire one thing: CONTROL. In the world of Bitcoins, there is not an inch of control. In fact, only those who have Bitcoins are the ones who have ABSOLUTE CONTROL over their Bitcoins. They can do whatever with their Bitcoins without fear of being held by law. They are free to manage their own affairs in the world of Bitcoins, hence, Bitcoins' continuous growth! That is why it has been said that Bitcoins can be a very effective way to achieve illegal affairs through online Bitcoin transactions because of its value for anonymity across borders, around the globe!
An absolute control for government on bitcoin would be a disaster for bitcoin itself since corruption is an easy thing to happen after that just like how they control fiat money and the prices of each goods. I really do hope it never happen or else some people would be leaving bitcoin but government would still not care about it since they're in control of it and will easily control it's price. This does not only apply to China but with the rest of the world because all governments across nations desire one thing: CONTROL. In the world of Bitcoins, there is not an inch of control. In fact, only those who have Bitcoins are the ones who have ABSOLUTE CONTROL over their Bitcoins. They can do whatever with their Bitcoins without fear of being held by law. They are free to manage their own affairs in the world of Bitcoins, hence, Bitcoins' continuous growth! That is why it has been said that Bitcoins can be a very effective way to achieve illegal affairs through online Bitcoin transactions because of its value for anonymity across borders, around the globe!
Yes actually this denationalization of wealth is a big threat for every government.
Here the main problem is the more the oppose the idea the more it will grow.
Better instead of opposing i think government should make some regulations on bitcoin and that will be the best step for future.
Here the main problem is the more the oppose the idea the more it will grow.
Better instead of opposing i think government should make some regulations on bitcoin and that will be the best step for future.
Well I agree with you, mate.
This does not only apply to China but with the rest of the world because all governments across nations desire one thing: CONTROL. In the world of Bitcoins, there is not an inch of control. In fact, only those who have Bitcoins are the ones who have ABSOLUTE CONTROL over their Bitcoins. They can do whatever with their Bitcoins without fear of being held by law. They are free to manage their own affairs in the world of Bitcoins, hence, Bitcoins' continuous growth! That is why it has been said that Bitcoins can be a very effective way to achieve illegal affairs through online Bitcoin transactions because of its value for anonymity across borders, around the globe!
This does not only apply to China but with the rest of the world because all governments across nations desire one thing: CONTROL. In the world of Bitcoins, there is not an inch of control. In fact, only those who have Bitcoins are the ones who have ABSOLUTE CONTROL over their Bitcoins. They can do whatever with their Bitcoins without fear of being held by law. They are free to manage their own affairs in the world of Bitcoins, hence, Bitcoins' continuous growth! That is why it has been said that Bitcoins can be a very effective way to achieve illegal affairs through online Bitcoin transactions because of its value for anonymity across borders, around the globe!
Bitcoin is meant to disrupt the many traditional institutions works as it can be carrying innovations leading to changes in the way we usually do things. This can be the big factor why central banks and many government authorities are all wary of how to treat Bitcoin. In the case of China, they the easiest way out which is the banning of Bitcoin exchanges and ICOs to curtail participation from their "protected" citizens. Soon they may come up with regulation making ownership of Bitcoin illegal...that is if they are not just buying time before allowing Bitcoin operation under a very strict atmosphere.
China's central bank admits Bitcoin and cryptocurrencies can be carrying threats to central banks and existing banking systems. And this is actually just stating the obvious as the Chinese government is afraid of anything they can not control. This is a society where controls in almost all facets of their lives remain to be strong...though we are hoping that next generation of Chinese leaders would be gradually changing this kind of situation.
Nevertheless, this may not be the right time for China to have a good love affair with Bitcoin but I know that sometime China will be back loving Bitcoin too.
China's central bank admits Bitcoin and cryptocurrencies can be carrying threats to central banks and existing banking systems. And this is actually just stating the obvious as the Chinese government is afraid of anything they can not control. This is a society where controls in almost all facets of their lives remain to be strong...though we are hoping that next generation of Chinese leaders would be gradually changing this kind of situation.
Nevertheless, this may not be the right time for China to have a good love affair with Bitcoin but I know that sometime China will be back loving Bitcoin too.
Almost all of the countries have these concerns over bitcoin and it is all understandable as this is all valid and correct in some degree. However they ate being threatened as they have not fully studied it yet and such is the strength of bitcoin that it scares the companies and bank
They are too pessimistic, do not think about the fate of the people who work in bitcoin world, so they prohibit the use of bitcoin.
Bitcoin can be a threat to China. Bitcoin is a Decentralized digital currency. Bitcoin have some positive side (no transaction fees, no middle man, faster operation, secured, less risk of inflation, no risk of duplication) that will attract people to use Bitcoin. But the Chinese government wants to control the financial system and the economy. If Bitcoin get popular among Chinese people, it's getting hard to control the whole financial transaction by the Chinese government.
I think they have a point because Bitcoin came out from nowhere and now they're residing in Bitcoin's core nodes around the world.
Imagine China will invest crypto currency like Bitcoin then suddenly Bitcoin collapse and lost its value, investor would probably hurt and affected and will change economic stability.
Imagine China will invest crypto currency like Bitcoin then suddenly Bitcoin collapse and lost its value, investor would probably hurt and affected and will change economic stability.
Bitcoin is a threat to every government and Central Banks who rules the fiat money and financial market world. Bitcoin isnt in their hands so while they keep trying put bitcoin down we are seeing Bitcoin being worth 100B, more than lots of Technology Enterprises and Petroil Companies, so it scaries the shit out of them. One day Bitcoin will be worth more than Apple's Market Valor and we are not far from there.
The world market has completely shrugged off China.
Korea and Japan were enough to be keep propelling Bitcoin.
Korea and Japan were enough to be keep propelling Bitcoin.
For China, everything that they really don't understand or invented by themselves is a threat.
Inventions like Google, Facebook, YouTube, Twitter, Snapchat and Instagram were all threat to them.
So never mind when they said bitcoin is a threat at all! Very soon they will say internet itself is a threat to them!
I think china is not dependent on any other social activities. They don't believe how bitcoin value more than 5500 us dollar. China has different set of knowledge, So this like a one kind of threat and it will not possible to use for our country. In future China also understand the bitcoin creation. Lot changes are happened in after 10 years. Slowly growing in China, but laterally they accept Bitcoin. Inventions like Google, Facebook, YouTube, Twitter, Snapchat and Instagram were all threat to them.
So never mind when they said bitcoin is a threat at all! Very soon they will say internet itself is a threat to them!
They are not ready with the development of bitcoin technology that has been in great demand by many people, bitcoin can indeed be a serious threat to the conventional bank system which many of its customers will switch to bitcoin in transactions.
why the Chinese government think so 
while the bitcoin is a virtual currency that can facilitate transactions anywhere ,,,
while the bitcoin is a virtual currency that can facilitate transactions anywhere ,,, 
For China, everything that they really don't understand or invented by themselves is a threat.
Inventions like Google, Facebook, YouTube, Twitter, Snapchat and Instagram were all threat to them.
So never mind when they said bitcoin is a threat at all! Very soon they will say internet itself is a threat to them!
Inventions like Google, Facebook, YouTube, Twitter, Snapchat and Instagram were all threat to them.
So never mind when they said bitcoin is a threat at all! Very soon they will say internet itself is a threat to them!
Because China’s withdrawal from Bitcoin trading will have a negative impact on the cryptocurrency, since 10% of Bitcoin trading activity happens in China. Some experts believe that Bitcoin exchanges will re-open once additional regulations are in place, although at this point there is a great deal of uncertainty.
China’s crackdown on Bitcoin trading has also revealed divisions in beliefs surrounding the cryptocurrency. Some believe Bitcoin is truly a legitimate currency, although others assume it is a “fraud”
China’s crackdown on Bitcoin trading has also revealed divisions in beliefs surrounding the cryptocurrency. Some believe Bitcoin is truly a legitimate currency, although others assume it is a “fraud”
so they want a crypto tailored so they can keep doing what they do with fiat... sounds like china yeah
Of course, bitcoin is a real threat for the countries who have big banks and centralized system because bitcoin will give the citizens of their country decentralization or freedom towards their money and that is how they are going to get killed by bitcoin and that is why they are banning bitcoin and getting rid of it to their country.
I think they ban bitcoin and then they will create another coin for China region, after the price going big, goverment will play they role. They will release their new coin to world and earn big profit with easier way
They have their own coin already, it's called the Yuan.
They aren't worrying about profit, they are just worrying about not being able to regulate people.
China will kill all the growing potential of economy because the communist govt won't to have rich citizen. They want to control all people wealth and properties while with bitcoin the wealth of the citizen unseen. This is a real threat to the dictator govt.
china much to provoke about bitcoin. about the Chinese ban and about everything that concerns bitcoin, I think china is just playing. we'll see what will china do next
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