China & The Bitcoin | Bitcointalksearch.org

FanEagle

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Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

I don’t think that Bitcoin mining is illegal in China, though they have tried to ban it, from what I’ve learnt, but there is really no reason that they can use to declare it as illegal. So, people are still able to mine Bitcoin, the only problem is exchanges and when there are no exchanges for miners to sell their coins they might get discouraged. And moreover there is going to be a Chinese cryptocurrency very soon, they haven’t announced a particular date but they have made it clear that they are creating their own cryptocurrency and it will soon be released.

China's biggest positive thing is their population and when more number of people from them are believing into the future of cryptos then their government's stand can do anything against bitcoin or crypto space.

nicolas1979

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China see crypto and blockchain as opportunity to answer economy problems. We know how China develop mining city and their own coin to against bitcoin domination and use it to monopoly merchant payment around the world. This country always take part in every economy progress but the goal is not profit, the answer is position. They want become leader and other country should follow them, I'm not agree with that but that is their policy in economy global.

btccashacc

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Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

Guess what? they are building their own cryptocurrency (Here's the link : https://www.bloomberg.com/news/articles/2019-08-12/china-s-pboc-says-its-own-cryptocurrency-is-close-to-release) Well it's not only China but also most countries in this world are not interested in the Bitcoin and the Cryptocurrency they just interested on the technology behind the Bitcoin the Blockchain, I think it's normal since most cryptos are decentralized meaning that they can't control it.

arimamib

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Quote from: Kelvinid on January 19, 2020, 05:23:32 PM

Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

We've been talking about China for multiple times regarding banning issues, nothing could change their minds, they are all-out war against crypto many years ago. They'll have no interest in crypto since they can't control the market and for the reason also that they are protecting their people against the rise of illegalities by using crypto.

We don't need to ask them for their support, in fact, a lot of countries who are giving their all-out support to the market and that was big enough to help the market to grow.

when they make a policy then they will survive with that policy, their political problems that make the rejection of the use of crypto that cannot be controlled by them. and we really have to really understand their policies because so far they are one of the world's giants who can do anything, and in the crypto world they do the same thing.

aishteru

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when we say china its only a country,and china is a big place.yes china banned almost everything about crypto but chinese didnt stop at all...most chinese are in taiwan,macau,and hk which is not affected with the crypto banned in mainland.the reason why chinese still holds a big part of crypto world.and china is aware about that so i guess the reason they are interested in making their own blockchain tech and own coin. just like what they did in google,facebook and other social media,they make their own version to still hold and control their people.

bounceback

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Quote from: tungaqhd on January 10, 2020, 03:18:45 PM

Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

China has banned many crypto mining companies due to electricity problems, however i think the governments want to take affect on Bitcoin, keep it far from their country.

Apart from electricity problems, there is also the possibility that China has banned bitcoin mining in the country as one of its concerns about the process of making its digital currency, because previously we also heard that they would make their own digital currencies with blockchain technology that can be controlled by organizations center.

hendra147

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China is anti-bitcoin, but does not prohibit bitcoin from being used. China is anti-bitcoin but is very interested in the technology. This is proven by the government's plan to release their yuan digital currency based on the blockchain. I think they would be bad if they refused bitcoin but took the technology. But I've heard the news, that the Chinese government makes digital yuan to dispel bitcoin in widespread circulation in China.

Kelvinid

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Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

We've been talking about China for multiple times regarding banning issues, nothing could change their minds, they are all-out war against crypto many years ago. They'll have no interest in crypto since they can't control the market and for the reason also that they are protecting their people against the rise of illegalities by using crypto.

We don't need to ask them for their support, in fact, a lot of countries who are giving their all-out support to the market and that was big enough to help the market to grow.

gundala

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Quote from: Meowth05 on January 17, 2020, 11:26:08 PM

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Exactly. Probably the one who hate Bitcoin and the rest of cryptocurrencies are the just their government the fact that these kind of currencies are decentralize that would make for them to monitor. Besides, they might not totally hate the fact
that they got the higest position of Bitcoin mining pool. And if they totally hate it they can ban it and any related transaction regards with it but instead they only banned the exchanges as I remember.
[/quote]However, the Chinese government is very open to the development of the blockchain and plans to create their own cryptocurrency. And it is true, the fact is that cryptocurrency cannot be denied completely because there are some advantages which are the evolution of technological and financial developments. That is why the government is trying to make its own cryptocurrency that they can monitor.

Meowth05

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Quote from: DooMAD on January 10, 2020, 10:06:54 AM

Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

Seemingly in the news we hear how China is anti Bitcoin

The media are quite mistaken, as usual. "China" is more than just its government. If everyone in China was anti-Bitcoin, then the media can report that "China is anti Bitcoin". But as it stands, that's clearly not the case. Bitcoin does not require approval from governments in order to function, so it doesn't matter if the government of a particular nation don't like it. The fact that all those Bitcoin users who are based in China are willing to act against the wishes of their government speaks volumes. It means we clearly have something to offer if they're prepared to risk attracting attention from an authoritarian regime and the benefits must outweigh the potential ramifications for them.

Exactly. Probably the one who hate Bitcoin and the rest of cryptocurrencies are the just their government the fact that these kind of currencies are decentralize that would make for them to monitor. Besides, they might not totally hate the fact
that they got the higest position of Bitcoin mining pool. And if they totally hate it they can ban it and any related transaction regards with it but instead they only banned the exchanges as I remember.

Eugenar

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Quote from: vintages on January 17, 2020, 05:45:58 PM

Asians generally love the latest innovations and technologies. I believe that prior the restrictions placed on Bitcoin many of the Chinese citizens must have purchased lots of Bitcoin. While some might have sold theirs when the announcement are made, some of them might have still held on hoping for some kind of change of mind from their government.

Well, hoping for that to happen will much likely to be nonsense as government will not pursue risk for their people unless, these hope will be replaced by actions of the people to push their government upon realizing postive impacts of cryptocurrency especially bitcoin to their nation. One of the ways I see it could be possible is if we take advantage of situations where crypto could help allot. Such as in calamities, we could donate money but instead, try to donate bitcoin or altcoins.

vintages

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Asians generally love the latest innovations and technologies. I believe that prior the restrictions placed on Bitcoin many of the Chinese citizens must have purchased lots of Bitcoin. While some might have sold theirs when the announcement are made, some of them might have still held on hoping for some kind of change of mind from their government.

LUCKMCFLY

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Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

~snip~

Undoubtedly, China is the protagonist in terms of Bitcoin, it is one of the largest miners in the world, its importance is very much thanks to it, some countries like the USA some people have been preparing to be the biggest competition.

For now, China is of great interest in the topic of Blockchain and its cryptocurrency that recently has a great direct opponent that is Libra that has not yet been launched, in China they have used marketing to exalt Blockchain and its Stablecoin, they make FUD towards Bitcoin In some newspapers, just to encourage their population of preference towards stablecoin, it should be said that it is a business model that they are defending so that their local economy is not affected. In economic terms, it is a fact that China is fighting against the hegemony of the dollar and the best way is through Crypto and its stablecoin, having full control of it.

Kratti0

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Is the China only country that is investing Bitcoin a lot, or are there other countries on the race?

Onuohakk

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China main motives is to have their own crypto that will be more unique than bitcoin. In their last year article about top crypto, the placed bitcoin at 7th position. That's to say they are not in full support of something they can't control

Mike Mayor

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Quote from: sovie on January 14, 2020, 07:34:23 AM

If I am not wrong Google, Facebook and Youtube all are banned in china ( Why Are Google Facebook And Youtube Blocked In China - Decode China ). One of the main reason apart from censorship is that china don't want its capital to go out of the country. How can China allows a decentralized currency thats not in there control and with which capital can be very easily moved out of the country?

Yes, China do not want to lose control. They at the throats of their people and squeezing down hard. (never good to oppress or control your people) The banning of the social media networks you talk of has not even been effective. Most people that use the internet more than a few hours a day already have a VPN which is only a few $$ a month to bypass all this shit. They can try control the currencies but they cannot. You cannot stop money leaving the country in the form of crypto. It's too free and open to be stopped so easily. If they can't stop FB google and youtube they will never stop crypto.

tungaqhd

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Quote from: mrquackquack on January 10, 2020, 08:42:56 AM

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

The Chinese governments want to control the economic while Bitcoin is famous for anonymous so they banned many mining company because of electricity problem.

pawanjain

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Nothing lasts forever

May be China must be having a grudge against bitcoin since bitcoin is a threat to banking system.
Since China was the first country to introduce fiat currencies, it is a direct challenge to them and their invention.
May be this is why China is against cryptocurrencies. But China is also well equipped with technology since their people are so involved with technology.
This is why the people from China are still mining bitcoin for they know it's a revolutionary tech while their country is going against it.

karanggatak

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in my opinion, China is only anti-bitcoin, not cryptocurrency because we know the Chinese president stated that he supports blockchain technology and plans to create its own crypto. and if I'm not mistaken this year they will launch their own crypto. and in my opinion China banned bitcoin because bitcoin cannot be controlled and is afraid that it could threaten the sovereignty of the yuan. but they still allow bitcoin mining because it can benefit China.

Tary12

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various countries do not agree to the existence of bitcoin, crypto is very bad luck right now. the selling value of bitcoin is now dropping from 2018.

Topic: China & The Bitcoin (Read 866 times)