Topic: China cracking down on bitcoin again - page 3. (Read 795 times)
Last I heard they were making their own libra competitor. This makes sense now why they wanted Libra and other altcoins to go down. As powerful as the authoritarian China grows, the weaker the good china (Taiwan) gets. I live with hope that one day the good China, Tibet and hongkong are bigger powers and the commy China goes to dust.
Chinese government is very serious in cracking down Bitcoin, I think they will never change their stance over this asset...
Simply speaking the communist party is afraid of bitcoin and other independent means of exchange. Those can have unnecessary influence on peoples views or ideology and as such are not welcomed. Who needs billions of independent, smart and knowledgable citizens rather then obedient workers? As expected to China. China's government always want a full control to everything like what happened to Huawei company and America. They are afraid of losing something that is very difficult to recover. Besides if bitcoin arise in their country, it would be something out of their hand, and regulations is not even enough. In addition some ICOs are fraud, and unregulated and majority of Chinese are business minded thus, losing funds are something that matters the most to Chinese. That's why they banned Bitcoin in their country.
Last update news China have invest much money in bitcoin for attacking economic problem with Unite State, China want to adopt bitcoin as their investment assets to keep earn profit with lower economic condition after United State not allowed for selling China product export to United State, I think best ideas if China want to adopt bitcoin as investment assets.
if China always cracking down bitcoin many investor afraid for investing with bitcoin because can lost their money with bitcoin cracking down by China.
That's not really the case based on how many Chinese investors have either crowded the local markets to buy Bitcoin, or found a way to use foreign exchanges to trade and speculate.I have read an article about how a lot of the Tether in circulation is held by Chinese investors. It kinda makes sense as well because it provides them the freedom they need to trade without fear of confiscation.
I'm really glad that people in China don't let their government dictate their way to the degree where they can't trade Bitcoin anymore. People have that freedom with Bitcoin now and they happily use it.
I think what has happened is this: China closed down all the cryotocurrency exchanges back in early 2017.
Then Binance tweeted to their Chinese users that they could buy bitcoin with Alipay. The Chinese authorities then put pressure on Alipay to close down any bitcoin related transactions, which is what they've done.
They never give up, china is just trying to protect this Alipay which has become really obvious that it is what they are doing, they want everything to depend solely on Alipay and with bitcoin, it really cannot work, I am sure they don't even have the technology too as good as they think they are in technology which is why they are using this Alipay method and it will still not work. Then Binance tweeted to their Chinese users that they could buy bitcoin with Alipay. The Chinese authorities then put pressure on Alipay to close down any bitcoin related transactions, which is what they've done.
There are dex exchange that the Chinese people can use and if we really want to take the fight to china back, we really need to start making use of dex exchanges because that is the only angle where the government is trying to control cryptocurrency, it is because they are able to communicate with those centralized exchange team that they could make those demands that can never happen in a dex exchange.
if China always cracking down bitcoin many investor afraid for investing with bitcoin because can lost their money with bitcoin cracking down by China.
That's not really the case based on how many Chinese investors have either crowded the local markets to buy Bitcoin, or found a way to use foreign exchanges to trade and speculate.I have read an article about how a lot of the Tether in circulation is held by Chinese investors. It kinda makes sense as well because it provides them the freedom they need to trade without fear of confiscation.
I'm really glad that people in China don't let their government dictate their way to the degree where they can't trade Bitcoin anymore. People have that freedom with Bitcoin now and they happily use it.
news that came from china could indeed be a major factor in the decline in the price of btc, we all know china is the holder of the most value from the crypto market capitalization.
so whatever news comes out will definitely have an impact.
news about alipay prohibiting the use of btc payments has a bad effect on the market, we don't know whether this has caused the market to go down in the last few weeks.
but I think people will still find a solution, and the market will recover, this is not the first time bad news from China, so I think we will be fine.
so whatever news comes out will definitely have an impact.
news about alipay prohibiting the use of btc payments has a bad effect on the market, we don't know whether this has caused the market to go down in the last few weeks.
but I think people will still find a solution, and the market will recover, this is not the first time bad news from China, so I think we will be fine.
China have big power to make bitcoin down, maybe many investor keep hold bitcoin live in China now where can make bitcoin down and up when China announce big news. Now china want created own cryptocurrency and make bitcoin or altcoin become their competitor to raise with higher price, if China always cracking down bitcoin many investor afraid for investing with bitcoin because can lost their money with bitcoin cracking down by China.
Alibaba's co-founder, Jack Ma, as we know it has been anti-bitcoin for a long time, but it's not anti-blockchain technology. Jack Ma is a red capitalist (a businessman who doubles as a member of the communist party). In China, party officials and businesspeople have the same viewpoint that they must protect the country from pro-democracy currents. The policy of integration between prosperity and power in China is designed to perpetuate the existing authoritarian political system, and in fact, this policy is what makes China prosper.
If the symbiosis between capitalists and parties in China is like this there is a possibility Alibaba is fully backed up by the government. The Chinese government will protect Alibaba from the potential emergence of foreign competitors.
If Jack Ma and Alibaba & Alipay can be as phenomenal as they are now in the world, the Chinese government feels confident that the stable coins to be issued by the Chinese central bank will be accepted by the world. We cannot deny the fact that China is a very lucrative market for goods and services with a very large population.
If the symbiosis between capitalists and parties in China is like this there is a possibility Alibaba is fully backed up by the government. The Chinese government will protect Alibaba from the potential emergence of foreign competitors.
If Jack Ma and Alibaba & Alipay can be as phenomenal as they are now in the world, the Chinese government feels confident that the stable coins to be issued by the Chinese central bank will be accepted by the world. We cannot deny the fact that China is a very lucrative market for goods and services with a very large population.
I think what has happened is this: China closed down all the cryotocurrency exchanges back in early 2017.
Then Binance tweeted to their Chinese users that they could buy bitcoin with Alipay. The Chinese authorities then put pressure on Alipay to close down any bitcoin related transactions, which is what they've done.
You've got a point there mate but even if they put a stop on a payment services for those crypto related transaction via Alipay, Chinese citizens still have a lot of ways around to do any crypto transactions without getting notice by their authorities because we all know that Chinese are very good at doing business once they've set their mind into it. The Alipay crypto transactions just got exposed that's all.
The Chinese government can prevent its nationals from purchasing or selling Bitcoin within Chinese borders. But they will never be able to prevent their citizens from owning Bitcoins. Being a decentralized and digital asset, the government may find it hard to trace the Bitcoin transactions back to the individuals (especially if the users just hold these coins without any deposits or withdrawals to the exchanges).
And if these individuals want to sell or purchase BTC, then they can just catch a train or flight to Hong Kong/South Korea, where trading with Bitcoin is perfectly legal (many of the Chinese users are already doing this). And whatever tax revenue that is generated in this case goes to the governments of Hong Kong/South Korea and the authorities in mainland China gets nothing.
And if these individuals want to sell or purchase BTC, then they can just catch a train or flight to Hong Kong/South Korea, where trading with Bitcoin is perfectly legal (many of the Chinese users are already doing this). And whatever tax revenue that is generated in this case goes to the governments of Hong Kong/South Korea and the authorities in mainland China gets nothing.
This is not surprising. China was cracking down bitcoin and all related to cryptocurrency companies so many times, that I don't really care about it any more. The Chinese government is very strict when it comes to their community, they want to control every part of community life. And of course they need to control financial flows. Their principle is to destroy everything that you can't control.
Both China and the USA government are very serious regarding this cryptocurrency platform, I think they are not interested to give any space further for this platform, Still Chinese and American people using Bitcoin and doing a lot of thing in this platform, For me, China is more reluctant than America, but it doesn't matter at all, Cryptocurrency is not for only these two countries, It's true there a vast people from these two but it doesn't mean without them it would be worthless, So everything will run its own way and Bitcoin will dominate very smoothly in the coming future. So the cracking down by China is not bring any special attention to me.
indeed, me too, i dont care about that news,and i have no problem about it.
but,
u know well both china and US is a big player on this thing.
lot of miners from these country,but suddenly their goverment ban crypto , its mean they doesn't need crypto,
and it's reported in all well-known magazines,bloomberg,forbes,etc.
and how general people think about it ?
they must be think, crypto pure of bad thing, i must stay away from crypto.
and that its a problem.
I think what has happened is this: China closed down all the cryotocurrency exchanges back in early 2017.
Then Binance tweeted to their Chinese users that they could buy bitcoin with Alipay. The Chinese authorities then put pressure on Alipay to close down any bitcoin related transactions, which is what they've done.
You've got a point there mate but even if they put a stop on a payment services for those crypto related transaction via Alipay, Chinese citizens still have a lot of ways around to do any crypto transactions without getting notice by their authorities because we all know that Chinese are very good at doing business once they've set their mind into it. The Alipay crypto transactions just got exposed that's all.
That is true and Im not sure if it still happening or the Chinese government put a serious restrictions/blocking of all crypto related websites after this event.
Nevertheless, computer geeks from china will eventually find a way to do business and transactions that relates to Cryptocurrency.
This is also the reason why It didnt really have a huge impact to the market when China closed down all ICO and exchange in 2017.
Both China and the USA government are very serious regarding this cryptocurrency platform, I think they are not interested to give any space further for this platform, Still Chinese and American people using Bitcoin and doing a lot of thing in this platform, For me, China is more reluctant than America, but it doesn't matter at all, Cryptocurrency is not for only these two countries, It's true there a vast people from these two but it doesn't mean without them it would be worthless, So everything will run its own way and Bitcoin will dominate very smoothly in the coming future. So the cracking down by China is not bring any special attention to me.
Binance tweeted to their Chinese users that they could buy bitcoin with Alipay. The Chinese authorities then put pressure on Alipay to close down any bitcoin related transactions, which is what they've done.
Alipay didn't issue a new ban, they reaffirmed their existing one. I don't think the government was involved. It was probably a knee jerk reaction by Alipay to CZ's announcement. Dovey Wan elaborates:
Quote
I personally think it‘s Binance OTC announcement claimed “support Wechat/Alipay” triggered such “declaration of innocence” from Wechat/Alipay .. it’s a very common compliant PR work in China
https://twitter.com/DoveyWan/status/1182265159844126721
https://twitter.com/DoveyWan/status/1182265159844126721
In my opinion this is a type of oppression where government wants to take full control of businesses under their premises. But I respect their decisions It just happened that Chinese government are limiting their citizens freedom and they don't want too much influence from the outside world. Maybe its one of their strategy on how they became superpower country.
They are all about power and control, and them doing stuff like this where they cut off companies from other ones is a reason why they are able to control everything that is happening in their country. 
In my opinion this is a type of oppression where government wants to take full control of businesses under their premises. But I respect their decisions It just happened that Chinese government are limiting their citizens freedom and they don't want too much influence from the outside world. Maybe its one of their strategy on how they became superpower country.
It's quite obvious that the Chinese government does not want crypto since they're a communist country, with the governmemt wanting to hold every aspect in their society. They don't want decentralized, free from governing ideologies. They want you to do what they think you must do. They're constantly watching their people and they don't want another currency that will oppose their own fiat that is not controlled by anybody.
Government don't like cryptocurrency because decentralized.
So Alipay is a product from Alibaba, where we know Alibaba is company with controlled by government.
There government also communist.
So i am not suprised they also want Alipay block the Bitcoin. I hope cryptocurrency will get heart from their government.
So Alipay is a product from Alibaba, where we know Alibaba is company with controlled by government.
There government also communist.
So i am not suprised they also want Alipay block the Bitcoin. I hope cryptocurrency will get heart from their government.
It's kind of logical development of situation. We are all aware that there are actually no true private companies in China, everything is contolled by government, this way or another. So China wants to continue its "war" against Bitcoin through Allipay. But I'm not afraid this will affect Bitcoin negative or have some more significant impact on global way. But it will affect Alipay users though.
China do not have power anymore about bitcoin, they have banned bitcoin transaction in their country and stop all ICO project investment and mining, maybe how ever rule of China government to allow or not for bitcoin as payment transaction do not give anything effect for bitcoin, now have many country allow for using bitcoin become legal transaction and China have gone last three years when banned bitcoin as legal payment in China.
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