The temporary ban with the deposit with exchange is to stop people from by passing the RMB control to move money out of country.
As soon as RMB is no longer a blocked currency. I do not think the Chinese government will care what currency/instrument/cryptocoin people use to settle trade.
Topic: Do you think China will completely BAN bitcoin? - page 3. (Read 3571 times)
No, the government admitted that it is a commodity, only
Banning Bitcoin is impossible, even for China!
If people want it they will find a way to get it. I am glad it looks like they are out of the game for while. No more chinese bubbles to burst.
There will always be a way to trade BTC in china, Atleast that's my opinion
I believe their PR handling can't really be understood from our perspective.
They would never officially announce a ban on something, it's just not how they do things.
They would never officially announce a ban on something, it's just not how they do things.
In fact, China (Govermont) is trying to BAN bitcoin.
There are so many bad messages about bitcoin in China. For example, in news paper, web site, TV , .....
bitcoin is described relating these words: illegal, cheating, Ponzi.
Banks in China would not support service of Bitcoin.
But for these people who believe in Bitcoin, all these are bullshit. They will try to find ways of using Bitcoin.
There are so many bad messages about bitcoin in China. For example, in news paper, web site, TV , .....
bitcoin is described relating these words: illegal, cheating, Ponzi.
Banks in China would not support service of Bitcoin.
But for these people who believe in Bitcoin, all these are bullshit. They will try to find ways of using Bitcoin.
This, totaly agree with u, govermont ''thinking'' it's a bad option for ppl and trying to ban btc.
In fact, China (Govermont) is trying to BAN bitcoin.
There are so many bad messages about bitcoin in China. For example, in news paper, web site, TV , .....
bitcoin is described relating these words: illegal, cheating, Ponzi.
Banks in China would not support service of Bitcoin.
But for these people who believe in Bitcoin, all these are bullshit. They will try to find ways of using Bitcoin.
There are so many bad messages about bitcoin in China. For example, in news paper, web site, TV , .....
bitcoin is described relating these words: illegal, cheating, Ponzi.
Banks in China would not support service of Bitcoin.
But for these people who believe in Bitcoin, all these are bullshit. They will try to find ways of using Bitcoin.
This, totaly agree with u, govermont ''thinking'' it's a bad option for ppl and trying to ban btc.
China can shut down exchanges but it cannot ban a crypto currency, people will always find a way out to get to the bitcoin.
We'll see if they'll continue with soft measures or actually try a full on hard ban in plain language. Not sure what they'll do but they'll never kill off btc use in China 100%.
They may not go out with an official ban
But the noose is certainly tightening
But the noose is certainly tightening
no. They will make btc less and less atractive and harder to obtain, so people won't be interested in bitcoin and make use and possession of cryptos a crime(only way I can think a complete ban could be).
Plus we never know where these technologies will go, if they ban they might get technologically defased, so its better always leave room to a retreat that does not looks like they changed their mind by external pressure. This is why the double game of saying that they support cryptos, and at same time fight the exchanges.
Plus we never know where these technologies will go, if they ban they might get technologically defased, so its better always leave room to a retreat that does not looks like they changed their mind by external pressure. This is why the double game of saying that they support cryptos, and at same time fight the exchanges.
They would have banned it by now if they could. But they can't. I mean, what would they do, throw people in prison for using bitcoin? Even there this would be ridiculous and raise a lot of questions, and actually would popularize bitcoin. Anything less than that is not enough to stop people using it. And even that sort of countermeasure wouldn't cut it in the long run.
I think there are two possibilities to the china situation:
1) The chinese government owns a large amount of bitcoin and is pump/dumping them, in order to make money. If this is the case, china will not ban bitcoin completely, because it hurts the value of their asset.
2) They actually want to ban it. They can try, but bitcoin is made to get around government, so resisting bitcoin is futile
TL;DR, good luck china
1) The chinese government owns a large amount of bitcoin and is pump/dumping them, in order to make money. If this is the case, china will not ban bitcoin completely, because it hurts the value of their asset.
2) They actually want to ban it. They can try, but bitcoin is made to get around government, so resisting bitcoin is futile
TL;DR, good luck china
I somehow doubt the government itself holds coins. A government isn't a collective hive mind - it's technically a group of individuals acting in (chaotic) cohesion. It's probable that high ranking members in the Chinese government are leveraging their position to do insider trading in Bitcoin.
It's easy. If China said: "Bitcoin is 110% legal now", Bitcoin would skyrocket up to $1500 within a month - that's a 3x return if you're a Chinese millionaire government official.
I think there are two possibilities to the china situation:
1) The chinese government owns a large amount of bitcoin and is pump/dumping them, in order to make money. If this is the case, china will not ban bitcoin completely, because it hurts the value of their asset.
2) They actually want to ban it. They can try, but bitcoin is made to get around government, so resisting bitcoin is futile
TL;DR, good luck china
1) The chinese government owns a large amount of bitcoin and is pump/dumping them, in order to make money. If this is the case, china will not ban bitcoin completely, because it hurts the value of their asset.
2) They actually want to ban it. They can try, but bitcoin is made to get around government, so resisting bitcoin is futile
TL;DR, good luck china
If you look at Chinese history - their governments have been anti-technology through the ages and it takes them awhile to accept new ideas.
The question is can China really afford to miss out on crypto currencies? What if the new financial order in this world is later based on Bitcoin or some current alternate coin? World capital would reset and gravitate back to the west, much like it did during the Victorian ages, and the Chinese would be the clear losers in that regard.
The question is can China really afford to miss out on crypto currencies? What if the new financial order in this world is later based on Bitcoin or some current alternate coin? World capital would reset and gravitate back to the west, much like it did during the Victorian ages, and the Chinese would be the clear losers in that regard.
It's much better PR just to make it extremely hard to obtain and utilise.
China will not officially ban bitcoin because it's market cap is insignificant in the grand scheme of things and besides if people really want to use something they will.
In fact, China (Govermont) is trying to BAN bitcoin.
There are so many bad messages about bitcoin in China. For example, in news paper, web site, TV , .....
bitcoin is described relating these words: illegal, cheating, Ponzi.
Banks in China would not support service of Bitcoin.
But for these people who believe in Bitcoin, all these are bullshit. They will try to find ways of using Bitcoin.
There are so many bad messages about bitcoin in China. For example, in news paper, web site, TV , .....
bitcoin is described relating these words: illegal, cheating, Ponzi.
Banks in China would not support service of Bitcoin.
But for these people who believe in Bitcoin, all these are bullshit. They will try to find ways of using Bitcoin.
How could a country completely ban Bitcoin?
Shutting exchanges has already happened but people will always find ways around these things..
Shutting exchanges has already happened but people will always find ways around these things..
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