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
Topic: China vs BTC? - page 3. (Read 2130 times)
I think China really wants to dominate or replace the dollar as a tool of world transactions, China wants his currency the same or can replace the dollar, but China saw the development of bitcoin more rapidly than he imagined, for fear of competing therefore China withdrew from bitcoin world . that's my personal opinion.
It was reported in the news that ico's was banned in japan because bitcoins are used to buy drugs but i do not believe it, Today bitcoins value is decreasing because of the incident. Then in the news next days they reported that it will be legalize again so i think the value of bitcoins will rise again eventually.
Yes the price for bitcoin may again go up because of the news. And yes it was true that bitcoins are been used to purchase or sell all the illegal activities like drugs, weapons, etc. There is a another anonymous community known as deep web and it supplies all the illegal commodities like drugs, weapons, Hitman services, etc in exchange of bitcoins and perhaps that is the major drawback about bitcoins. Bitcoins are completely anonymous and it influences such peoples to use them. It should be stopped as soon as possible because it is spoiling life of many peoples and also it is creating a negative image of bitcoins in front of new peoples.
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.
Very much I doubt that China has something against bitcoin. Given the fact that China is the leader in bitcoin mining, all this statement against bitcoin is nonsense. Most likely they just manipulate the market, in order for big players to enter it at a lower price.
you are absolutely right and my opinion is the same. The main thing was to create such a situation and to dismiss Bitcoin and now the most important thing for them is with buying as much Bitcoin coins as possible. Bitcoin will still go up in its price in the near future and then China will benefit from these manipulations.
Very much I doubt that China has something against bitcoin. Given the fact that China is the leader in bitcoin mining, all this statement against bitcoin is nonsense. Most likely they just manipulate the market, in order for big players to enter it at a lower price.
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'.
Can someone explain to me why china is trying to ban bitcoin.?
Thanks for your replies.
Bitcoins are the virtual currency and cant be banned. China is banning the ICO and not the bitcoins actually. Even if they are banned, they can be used by every citizen of china even after banning them. I dont think china will take the decision to bann bitcoins as they can be hardly banned. Each time we have seen china taking its own unique decisions. I dont actually know the main reason behind banning ICO. There will be no difference even after abnning ICO. Perhaps china i8s banning ICO because some ICo didnt launched even aft6er taking the money. Thanks for your replies.
China only bans ICO. They do not bit Bitcoin and just assume Bitcoin transactions are illegal activities. And they ban ICO for a reason. And I hope China is not like JP Morgan.
from the news I read, china wants to protect his people from irresponsible ico-ico or scam.
That's an action a lot people here wouldn't mind if it was followed up by a lot other countries, but the main point of the recent load of China news has to do with the fact that it won't be allowed to do yuan versus crypto trading.If you look closely at the statements from exchanges that are subject to these regulations, it only affects their Chinese activities, and not the rest ~ that's something people seem to forget, or not understand.
It may turn out that prohibiting yuan trading is just a first step where later all crypto trading will be affected, but as it is right now, this entire situation has resulted in too much exaggeration, which has severely affected the sentiment.
from the news I read, china wants to protect his people from irresponsible ico-ico or scam.
Can someone explain to me why china is trying to ban bitcoin.?
Thanks for your replies.
China didn't banned bitcoins dude. It is just that the ICOs. Because they are referring that all ICOS are all scam. And I heard news that they will create their "new" bitcoin. I forgot the name but probably that coin would be the only token Chinese people will buy and it will grow strong because many investors will invest on that token. Thanks for your replies.
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.
Well chinese government seems to want control over anything and bitcoin probably unnerves some high officials because it's decentralized. I think eventually china will focus on taking advantage of this revolution instead of entirely banning it
Just because they started to ban the ICO doesn't mean that it will ban bitcoin or any other currency.
I think china was just banning exchanges and ICOs, not bitcoin
Can someone explain to me why china is trying to ban bitcoin.?
Thanks for your replies.
China only ban ico for there country.Many Ico project are scam and investor r huge loss for this.But is a high and strong coin in cryptopia currencey so its never ban any one.Because of Bitcoin already famous for all over the world. Thanks for your replies.
Actually China does not ban Bitcoin, it's just China forbids ICO. I think the most reasonable reason China forbids ICO is because China can not fully control the ICO's authority. During this time China is famous for banning technology such as Facebook, Twitter, Instagram, WhatsApp and many that I have not mentioned.
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.
It was reported in the news that ico's was banned in japan because bitcoins are used to buy drugs but i do not believe it, Today bitcoins value is decreasing because of the incident. Then in the news next days they reported that it will be legalize again so i think the value of bitcoins will rise again eventually.
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