Bitcoin Is A Big Threat According To China - page 3.

milewilda

legendary

Activity: 3094

Merit: 1127

Quote from: DRVX on September 21, 2017, 11:11:04 AM

Actually not only for China Bitcoin is threat. Is threat for all government and banks.
But governments and banks is slower that crypto community. They will just ban bitcoin. We have etherium. They will ban etherium, we have few annonimous coins: dash, monero.
So we will be everytime in one step forward.

What if they would ban all crypto? Theres no where to run but thinking off that this is an impossible thing. Decentralized would remain decentralized and no one could able to stop it if people would really do use it and also not all government/country would ban bitcoin or cryptos thinking off that there are already countries do legalized bitcoin like japan.We do have still space to move if all would decide to make such decision.

Elpeor00

full member

Activity: 346

Merit: 144

THE WORST EVER

Actually, if central banks come with their own cryptocurrencies it will be very good to bitcoin and the big altcoins, they will need a common ground to international operations and they can not trust each other, then descentralized altcoins can become the new bullion, of course it doesn't mean all central banks will allow individuals to keep bitcoin

Emoclaw

sr. member

Activity: 420

Merit: 251

Quote from: iamTom123 on September 19, 2017, 09:17:20 PM

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.

Sounds more like China plans to launch their own digital cryptocurrency that they can control.
I don't see their government (or any really) loving Bitcoin whatsoever.

DRVX

hero member

Activity: 966

Merit: 500

Actually not only for China Bitcoin is threat. Is threat for all government and banks.
But governments and banks is slower that crypto community. They will just ban bitcoin. We have etherium. They will ban etherium, we have few annonimous coins: dash, monero.
So we will be everytime in one step forward.

iamTom123

hero member

Activity: 490

Merit: 501

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.

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