China Declares War on Bitcoin (?) - page 3.

Nikole Fischer

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Quote from: androyster on March 10, 2021, 06:50:44 PM

It's kinda ironic isn't it? A dude from China creates bitcoin and his own country tries to ban it.

Here is supposed to be a picture with the inscription "Directed by Robert B Weide" and that meme song should play. Grin

There're a lot of weird things happening in China that we can't understand...

Kakmakr

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Is this an early April Fools joke?

China will only ban something, if they want to protect interest of their own or if they want to eliminate the competition. So, it has also been in the news that the Chinese government are planning to create their own Crypto currency... and this is where the agenda is.

This is a government that never banned the illegal trade in endangered animals like Rhino's and Blue whale and also look the other way when Abalone is poached and sold in the Chinese markets.

Their agenda is very clear..... wipe out the competition ..to make way for their own technology ....under the smoke screen of the cleaning up of pollution and CO2 reduction. Roll Eyes

yazher

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Quote from: meanwords on March 10, 2021, 10:22:40 PM

China full of hypocrisy and BS again. How about they start with their own pollution? how about they prohibit banks because banks are more significantly more resources expensive than Bitcoin mining? How about they actually start doing something instead of doing BS like this? Of course they won't do that.

These guys think that they are some sort of wall that can stop the progress of bitcoins after they declare this non-sense. Those people really need to consider studying Bitcoin technology on their own without listening to this kind of crap. If they want to invest in it in their own way because this Chinese current government has been doing this kind of strategy to make people stay out of Bitcoin. They should stay out of it from the first place when they really don't want their people to invest in cryptocurrencies especially bitcoins. Last 2019 they publish a positive statement about it and now they're turning around about their first statement.

kryptqnick

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I think I've seen this hypocrisy from China before with the same argument about ecology. Obviously, China doesn't care about ecology because it keeps being the world's biggest polluter with the highest carbon dioxide emissions. They just want a pretense to attack Bitcoin and ecology is a really good one. That being said, I think the news might be a little overhyped because there were threats of banning mining before, and yet the businesses operate as usual. And even if it indeed bans mining, I think the market can experience a price explosion, but everything will recover eventually.

Renampun

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Quote from: Hydrogen on March 10, 2021, 06:23:24 PM

...

if China declared war on Bitcoin then it would be no big deal...
although China is the country with the largest miner in the world but Bitcoin is not really liked there, the communist party really hates decentralization. look at how the price of Bitcoin has not changed even when bad news appears, investors have started to have no doubts about the potential for Bitcoin to continue to be of high value.

dkbit98

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It's not just China, it's all global anti-CO2 agenda that is telling us how bitcoins and babies are bad for environment and I it's not a joke at all.
Look at this recent New York Times article written by Andrew Ross Sorkin, or Guardian writing that we need to have more lockdowns every two years to reduce CO2,
or this Times Trends article telling us that kids are cute but they are not eco-friendly and that we should stop having them because they are bad for earth Tongue

I just linked few of them but there are many more of them and nobody can tell me this is just a coincidence.
Btw aren't trees actually using CO2 and turning it to oxygen we all bread everyday?

NeuroticFish

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Always question the declared reasons for any move the Chinese government does. Imho the "crackdown" is unrelated to pollution, consumption, planet and even Bitcoin mining. It may be related to the fact they have other plans with the population from there.

And on this "war on Bitcoin" (lol!) topic, I'll come with the fresh news: Chinese Public Firm to Buy $155M of Bitcoin Mining Hardware

orions.belt19

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Not much of an environmental or energy expert but is building 700 coal plants in replacement really the better alternative? Sounds sus to me. There's so many other energy alternatives there. Why not builder solar, thermal plants or install wind mills? Do they even know the energy consumption of mining? Otherwise, its probably just a cover up as crackdown on crypto..

Chinese social media Weibo suspends Huobi, OKEx and Binance accounts just today is also another indication that they're just trying to drive out crypto, most probably because this is not within their control and regulation.

mezzaluna

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Quote from: stomachgrowls on March 10, 2021, 06:48:58 PM

Its just trying to make those reasoning to be on concern with pollution or saving up the environment and the planet is just a bullshit thing that they say.

They arent banning just for that sole reason, they are against or banning it just simply its uncontrollable.For a country does have this kind of government then its no surprise that
they would really be hating anything that cant be controlled nor traced.

They can ban all the want and try to derail the true reason behind.They are just trying to push that Digital Yuan. Am i right?

They really are trying so hard to control something uncontrollable which now resulted in a conflicted nation. Their country is always brewing up something bad even though they are researching about it. Their country is the leading country that contributes to the most emissions of Carbon Dioxide which is really bad for the people living there and for the planet. If they really want to save the planet, this would not be their first move but other actions like stopping some of the main reasons why they emit so much Carbon Dioxide. They are just trying to save their faces by trying to blame it on something that they cannot control.

Kong Hey Pakboy

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Pretty hypocritical for Chinese Community Party(CCP) to ban bitcoin when they are the only one hodling the total bitcoin in China. I knew that when these CBDC thing goes on the road, bitcoin and other cryptocurrency is definitely going to be affected the most and with the Great Firewall of China, I think that they can do the bitcoin prohibition in their country.

AniviaBtc

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Quote from: tbct_mt2 on March 10, 2021, 08:36:05 PM

China again and again. More than 10 years and people are manipulated by news from China. Let me remind you that if news from China can dump bitcoin, it will also be able to pump bitcoin.

The last pump with news from China is Xi pump in October 2019. That news: CRYPTO MARKETS PUMP AS PRESIDENT XI CALLS BLOCKCHAIN A ‘BREAKTHROUGH’

More than one year from that news, do you think China plays big role to the growth of blockchain industry?

We all know that China does really have an issue with bitcoin because they are against it and they want to make their own crypto.

China is a developed country and they are strong in man power and pushing a certain cryptocurrency in their country is just easy compared to other country.

And my answer to your is YES, Chinese people will really play a big role in the growth and development of blockchain technology around the world.

davis196

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I don't know if this news is fake or not,but a crypto mining ban in China was pretty much expected.
We don't know what's inside the mind of Chinese communist leaders.Crypto mining isn't the biggest polluter in China,but it is definitely an easy target for a ban,because the social cost(lost jobs and unemployment) will be pretty low.
The big question is why they are going it now(if this news is really true)?Crypto mining was as polluting in 2015,2016,2017 or 2019 as in 2021.
Saying that they are banning mining because of environmental policies is a bullshit excuse.

Xampeuu

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Quote from: meanwords on March 10, 2021, 10:22:40 PM

China full of hypocrisy and BS again. How about they start with their own pollution? how about they prohibit banks because banks are more significantly more resources expensive than Bitcoin mining? How about they actually start doing something instead of doing BS like this? Of course they won't do that.

I think the Chinese want to always be in front and in control, when things don't seem to be achieved, they prefer to create their own shows. we know mchina is the biggest bitcoin mining country, so they want to master cryptocurrency their way anyway

pooya87

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Quote from: androyster on March 10, 2021, 07:04:02 PM

Can you imagine what a nightmare digital Yuan would be? They would build in all sorts of tracing mechanisms, backdoors and BS. No one trusts communists. Communism is anathema to free markets and liberty.

LOL. Not at all.
China has been on the path to become the world's biggest economy (hint that's why US has been afraid and started a war with China a couple of years ago which is escalating every day), one step in becoming the dominating world economy is to have their currency replace US dollar. Things like "Digital Yuan" are meant to serve that purpose. It would be just as safe and just as centralized and just as corrupt as any other digital currency you are using in the existing banking system in any other country.

None of it has anything to do with bitcoin though.

cabron

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Quote from: slaveforanunnak1 on March 10, 2021, 10:06:37 PM

2017 called. wanted its fud back

We heard it before. This is just going to be on the paper. China is pro-business, if they can get money out of it they will make money out of it including mining. As long as miners pay their energy bills, they will have no problem with it.

China's government may hate BTC for they can't control it, but if they announce they are going to ban BTC another country will take advantage of it and will start accepting. BTC is rare. The Chinese government knew they can use BTC as their wealth. They may even be buying the fresh BTC from the miners.

meanwords

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China full of hypocrisy and BS again. How about they start with their own pollution? how about they prohibit banks because banks are more significantly more resources expensive than Bitcoin mining? How about they actually start doing something instead of doing BS like this? Of course they won't do that.

slaveforanunnak1

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2017 called. wanted its fud back

Darker45

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I didn't finish watching the video. The title seems to be a clickbait. It wasn't delivered as a legitimate news either. The broadcaster himself hadn't have much to say, much less sufficient information, to support the weight or the impact of the title. He only had something to say like the channel is demonetized, accepting donation in Bitcoin, and so on.

Furthermore, I don't think this news is reflective of what is truly happening. This is pure exaggeration. I don't even think China is feeling a bit threatened by Bitcoin. If she were, she could have declared once and for all that doing anything related to Bitcoin in the country should perish in 24 hours. China is unimaginably powerful, especially within her land. I haven't heard of Bitcoin miners scampering away looking for another place outside China to continue their business.

bitmover

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Quote from: Hydrogen on March 10, 2021, 06:23:24 PM

China is known for having 14 out of the top 30 most polluted cities on the planet due to its heavy reliance on coal. In some places the air pollution is so bad, it is claimed simply living and breathing the air is like smoking two packs of cigarettes a day.

I am curious to know what peoples thoughts on these topics are.

Could the environment better be protected by china replacing its 700 planned coal power plants with cleaner options.

China is emerging as a hub for solar panel and windmill manufacturing. It is well suited to leverage EV vehicles due to the abundance of rare earth minerals within china's own borders. Its policy of pursuing coal energy in the face of cleaner and more affordable power options remains an enigma to me. Fossil fuel based power is heavily criticized and attacked by the media in the west. While in the east it is embraced with bold plans in motion to extend the scale of coal based operations. How can this discrepansy be explained. What are the motives and reasons behind it.

Although China energy matrix relies heavily on coal, they also have the biggest hydro powerplants in the world
Three_Gorges_Dam

And the mining farm are exactly near hydro power plants, because this is where energy is cheaper. So, bitcoin mining is not responsible for polution in china.

Certainly make the world a cleaner place is not bitcoin's goal. If china, or US, or whaetever government wants the world to be cleaner, they need to invest in cleaner energy generation.

Certainly China communist party is not happy that it cannot control bitcoin, and it will start bashing it. I hope that this weird shift of events may lead to a mining decentralization, with miners moving away from china.

tbct_mt2

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China again and again. More than 10 years and people are manipulated by news from China. Let me remind you that if news from China can dump bitcoin, it will also be able to pump bitcoin.

The last pump with news from China is Xi pump in October 2019. That news: CRYPTO MARKETS PUMP AS PRESIDENT XI CALLS BLOCKCHAIN A ‘BREAKTHROUGH’

More than one year from that news, do you think China plays big role to the growth of blockchain industry?

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