Topic: China vs BTC? - page 2. (Read 2130 times)
Easy to know man! Because Crimine use Bitcoin to money laundering. Besides, Government can control Bitcoin, so, they can't collect income personal tax from investors.
China isn't banning BTC for now and won't ban BTC any time soon
They don't try to ban the BTC they are trying to ban the ICO industry in their country.
They can not mobilize capital for life-sustaining projects because capital is poured into the ICO, causing china society to have big problems.
They can not mobilize capital for life-sustaining projects because capital is poured into the ICO, causing china society to have big problems.
They try to ban BTC dude. You're wrong in this point. They're attempting to kill an important industry in their territory, unfortunately.
This is dangerous the the whole ecosystem.
I think China wants in this way to reduce the number of scammers who use bitcoin for illegal purposes. Though it seems to me completely to forbid it to not turn out as hackers can bypass this interdiction.
It was the Ico and the exchanges they ban since their people were really seems interested on it and might cause conflict on their physical business and maybe too for ot will attract lots of scammer.
They don't try to ban the BTC they are trying to ban the ICO industry in their country.
They can not mobilize capital for life-sustaining projects because capital is poured into the ICO, causing china society to have big problems.
They can not mobilize capital for life-sustaining projects because capital is poured into the ICO, causing china society to have big problems.
China hasn't banned bitcoin. They are only breaking down on illegal bitcoin businesses.
Can someone explain to me why china is trying to ban bitcoin.?
Thanks for your replies.
China is a complicated place, rather than considering it like the US or Italy, it is much more accurate to consider it along the lines of a continent. There are a vast array of cultures, languages and other things going on, all held together under a single political system, in a single timezone.Thanks for your replies.
To make this work, social order is extremely important, and the government has a heavy hand when it feels ny threat to social order. Many people were being swept up by ICO's and Bitcoin fever and many scams were being carried out. I believe this is why the government stepped in. I think once they get some level of control/regulation in place, much as they do with the internet things will get back to normal - but this might take months. Somrtimes things dont move quickly.
I think China wants in this way to reduce the number of scammers who use bitcoin for illegal purposes. Though it seems to me completely to forbid it to not turn out as hackers can bypass this interdiction.
It was the Ico and the exchanges they ban since their people were really seems interested on it and might cause conflict on their physical business and maybe too for ot will attract lots of scammer. 
I think China wants in this way to reduce the number of scammers who use bitcoin for illegal purposes. Though it seems to me completely to forbid it to not turn out as hackers can bypass this interdiction.
Based on the article I've read,China won't ban bitcoin.. Only ico's are banned in China because they don't agree of collecting people's money inorder to raise a project..
Again i am seeing one more comfort zone question please do some research or atleast understand whats happening china is trying to close illegal activities using bitcoin and in the name of ICO there is lots of scam happening everything they are regulating.
I don’t know what china is thinking about bitcoin but as they are banning it they will suffer their decision as the countries around china make it legal and are doing business in it then there is no logic by the Chinese to cutoff the bitcoin trade in their region and bitcoin is not that much effected by their decision but Chinese themselves will be effected sooner or later, China can not ban bitcoin networks, can not ban anyway just trying to close stock exchanges, this bans storm will be one step beyond mining ban, nothing to fear.
Yes,but most of the markets are red now. We can see bitcoins falling down with all other altcoins with red markets. It might be due to the fear that china is banning bitcoins but in real, they cant just simply ban bitcoins. Bitcoins are now a widely spread global network of payments and also many peoples have already adopted bitcoins as there main source of income. Yes, bitcoins is used for some illegal ways but it is mostly used legally for making some good profits. There is no such huge reason for china to ban bitcoins. Perhaps china is banning the ICO and not actually the bitcoins.
China is not banning bitcoin.
Wrong. China is banning Bitcoin. They are launching a full war on Bitcoin. Stopping the ICOs and closing the exchanges is in effect 'banning Bitcoin'.
And is prohibited to trade using foreign exchanges like polo and Bittrex. Everything points alt that BTC will be illegal in China.
can you bring any reference for this or are you just spreading FUD?
so far I am still seeing Chinese volumes on their own exchanges be high, they are also still trading on other exchanges such as poloniex and bittrex. on top of it they are also trading bitcoin off the market like in face to face. and using localbitcoins.
and besides the Chinese government clearly said that OTC trading of bitcoin and other cryptocurrecies are perfectly legal.
China can not ban bitcoin networks, can not ban anyway just trying to close stock exchanges, this bans storm will be one step beyond mining ban, nothing to fear.
Yes,but most of the markets are red now. We can see bitcoins falling down with all other altcoins with red markets. It might be due to the fear that china is banning bitcoins but in real, they cant just simply ban bitcoins. Bitcoins are now a widely spread global network of payments and also many peoples have already adopted bitcoins as there main source of income. Yes, bitcoins is used for some illegal ways but it is mostly used legally for making some good profits. There is no such huge reason for china to ban bitcoins. Perhaps china is banning the ICO and not actually the bitcoins.
China is not banning bitcoin.
Wrong. China is banning Bitcoin. They are launching a full war on Bitcoin. Stopping the ICOs and closing the exchanges is in effect 'banning Bitcoin'.
And is prohibited to trade using foreign exchanges like polo and Bittrex. Everything points alt that BTC will be illegal in China.
just a trick in politics so everyone in china sells bitcoin for the price down and there the government buys and does not forbid bitcoin so they get a big profit.
it's only for some time until they do not forbid anymore
it's only for some time until they do not forbid anymore
Can someone explain to me why china is trying to ban bitcoin.?
So far China has banned ICOs that is initial coin offering. China has not ban bitcoin even if that is the plan the decentralized nature of btc makes it highly impossible to ban. Remember its a virtual commodity
There are news on the internet and you can google it if you want a specific information about it. But for giving you a short info, China is not trying to ban bitcoin. It is not literally they are banning bitcoin but it's like the message they want to send to the crypto people there is they want to regulate the transactions of bitcoin and other alt coins, so they banned exchanges and ICO's.
I hope that the domestic exchange and ICO ban is all that will happen. There have even been suggestions that these bans are temporary, and that the government will institute a licensing regime for them.
However, there is some scary FUD floating around that would be much worse:
Quote
(Unverified) report that China is trying to block bitcoin exchanges and p2p network in China by GFW @cnLedger
https://twitter.com/btcdrak/status/908998917995552776They can't really block access to the Bitcoin network anymore than they can block access to Google. That is to say, average citizens can probably circumvent it. But if true, this could provide another major round of FUD that could rock the markets.
I have read those articles that you mentioned about the ban is just a temporary thing. China seems to block and ban p2p trade / network, what are they really want to tell us? There is also a tweet from viabtc and they are worrying about "what If" mining will be banned in China.
Yeah, Haipo Yang has been laying on the FUD very thick ever since the rumors emerged. I wonder why. By all appearances, ViaBTC has always been a proxy for Bitmain, and Bitmain holds a lot of BTC (and are heavily invested in its future). I don't see how him going around tweeting "if China gov say mining is illegal, we are fucked" helps their cause. Jihan Wu, in comparison, has not shown the same level of worry.
It would not be surprising if China blocked the P2P network within the country's Great Firewall. It wouldn't be effective at restricting use, but it would discourage average citizens from using it and thus using BTC for capital flight.
But given BTC's trajectory on the world stage and China's dominance in mining, the government prohibiting mining would be shooting themselves in the foot.
These shills wanted to manipulate the market, I don't know if they are having a secret discussion together with the Chinese gov't authorities for their problems or with Dimon or anyone that is happy with what's happening on China. And there is a news that China started to block p2p network these country really wants to discourage it's people from supporting bitcoin.
For me its very simple. They saw that bitcoin could be a threat to them financially that's why they have to get rid of it. Their people love bitcoin, unfortunately, their government hates it, So who gonna suffer from all of this? its all the bitcoin enthusiast from China. But they can't really stop bitcoin now and other nation can also take over from them. Its just that so pity that traders/investors from China are taking all the heat and can't do anything about it.
There are news on the internet and you can google it if you want a specific information about it. But for giving you a short info, China is not trying to ban bitcoin. It is not literally they are banning bitcoin but it's like the message they want to send to the crypto people there is they want to regulate the transactions of bitcoin and other alt coins, so they banned exchanges and ICO's.
I hope that the domestic exchange and ICO ban is all that will happen. There have even been suggestions that these bans are temporary, and that the government will institute a licensing regime for them.
However, there is some scary FUD floating around that would be much worse:
Quote
(Unverified) report that China is trying to block bitcoin exchanges and p2p network in China by GFW @cnLedger
https://twitter.com/btcdrak/status/908998917995552776They can't really block access to the Bitcoin network anymore than they can block access to Google. That is to say, average citizens can probably circumvent it. But if true, this could provide another major round of FUD that could rock the markets.
I have read those articles that you mentioned about the ban is just a temporary thing. China seems to block and ban p2p trade / network, what are they really want to tell us? There is also a tweet from viabtc and they are worrying about "what If" mining will be banned in China.
Yeah, Haipo Yang has been laying on the FUD very thick ever since the rumors emerged. I wonder why. By all appearances, ViaBTC has always been a proxy for Bitmain, and Bitmain holds a lot of BTC (and are heavily invested in its future). I don't see how him going around tweeting "if China gov say mining is illegal, we are fucked" helps their cause. Jihan Wu, in comparison, has not shown the same level of worry.
It would not be surprising if China blocked the P2P network within the country's Great Firewall. It wouldn't be effective at restricting use, but it would discourage average citizens from using it and thus using BTC for capital flight.
But given BTC's trajectory on the world stage and China's dominance in mining, the government prohibiting mining would be shooting themselves in the foot.
These shills wanted to manipulate the market, I don't know if they are having a secret discussion together with the Chinese gov't authorities for their problems or with Dimon or anyone that is happy with what's happening on China. And there is a news that China started to block p2p network these country really wants to discourage it's people from supporting bitcoin.
China is not banning bitcoin.
Wrong. China is banning Bitcoin. They are launching a full war on Bitcoin. Stopping the ICOs and closing the exchanges is in effect 'banning Bitcoin'.
Still only rumors, but I'll admit, it's got me worried. For now, it's just a photo of a piece of paper and some rumors on 8BTC... not cause for panic selling just yet.
With the ICO ban and the exchange ban, Caixin media reported the leaked reports a couple days before they dropped. So if they do the same with the P2P network or mining ban, I suppose we know what to expect from the markets. Could the Chinese government really be that panicked over BTC?!
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