Why China banned bitcoin？ - page 10.

goodfortune2018

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Quote from: tuanvu199x on May 20, 2018, 02:40:13 AM

China has repeatedly announced a ban of bitcoin, ICO, cryptocurrency. But I believe the future of China will have new policies on bitcoin

This is purely speculation trying to destruct the image of bitcoin in the global market because there is no stronmg evidence to prove that china banned the use of crypto in their country.

SangitAlam

newbie

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Because it can not be copied Grin

Wagako

full member

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Quote from: woshiniubia on January 26, 2018, 04:47:05 AM

Sorry, I just went to ask my Chinese friend.
The news I got was that China did not ban bitcoin transactions.
It's just tougher regulation.
I also don't see any news that exchanges stopped trading bitcoins.

I think they want to secure every transactions and make the bitcoin become safer for all the traders that's why they are regulating this because they want that every investors and traders are safe from any scammers. I hope that this wouod be the reason behind banning bitcoin in different countries.

rightway00372018

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Quote from: tuanvu199x on May 20, 2018, 02:40:13 AM

China has repeatedly announced a ban of bitcoin, ICO, cryptocurrency. But I believe the future of China will have new policies on bitcoin

I dont believe china will banned bitcoin because there are so many chinese investing on it, so dont listen fake news as this may affect your decision in investing crypto.

tuanvu199x

newbie

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China has repeatedly announced a ban of bitcoin, ICO, cryptocurrency. But I believe the future of China will have new policies on bitcoin

JeBro

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Living is easy with eyes closed ...

The main reason for China's prohibition of bitcoin, in my opinion, is to prevent the withdrawal of financial resources from the country. A strict monetary policy is being implemented in China, and the use of bitcoin and crypto-currencies makes possible to freely move money around the world, including withdrawing them from the PRC.

brengoskandel

member

Activity: 210

Merit: 10

As I think, the Chinese banning bitcoin is only sooner or later. Earlier, it revealed that the central bank was researching and issuing digital money. Getting too well known bitcoin and the power of profit will make them anxious. Their investment in bitcoin and crypto will affect the success of their own digital money.

erichall

full member

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Quote from: lida311993 on May 19, 2018, 05:30:48 PM

So it was just a negative temporary information throw. Not worth much to trust this news because it is bad for your nerves.

I never trust a single thing the media says. There has been so much fake news regarding laws and China's "banning" of crypto that I no longer take any of it seriously anymore.

Rishabh riyz

sr. member

Activity: 357

Merit: 250

In my personal views China banned bitcoins because

the government didn't wanted their people to interact with crypto currency like bitcoins fearing that their nation currency Renminbi would lose its Value
the government may be planning to launch their own crypto currency

nguyenphucdang

newbie

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I hope bitcoin lovers from China can trade using offshore accounts.

charlzyeby

jr. member

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Whether China bans bitcoin in or not it still has the potential to increase in price in that people are even getting to know bitcoin now. The bad news will only make people know bitcoin and when the good news come up, more investors are attracted. I hope bitcoin lovers from China can trade using offshore accounts.

ne0nx9

newbie

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It's interesting point of view. China has been banned a lot of popular services like YouTube, Google.
Actually citizens not disappointed about that because they have analogs for all of banned services.
Also, they can control all of analogs and government can do what they want. It's their politics, just a party politics. Wink

I think in the future they will make their own coin with the government support.

kyucryp

full member

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CAT.EX Exchange

Quote from: gcckpxm62308 on January 26, 2018, 04:42:42 AM

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

maybe you should check the truth of the article before posting on the thread because as far as I know the Chinese government does not prohibit bitcoin but only prohibits ICO transactions. the Chinese government is banning because they know some of the ICOs are fraudulent, then cryptocurrency has the potential to grow rapidly and can not be controlled and cryptocurrency is often used for illegal activities such as money laundering, smuggling and drug sales.

adamlillian

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Merit: 10

Quote from: gcckpxm62308 on January 26, 2018, 04:42:42 AM

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

I think that e-money has made the Chinese economy much more volatile. After the Crypto market has poured a lot of capital, China has made many more billionaires thanks to the Crypto market. This has led to the government losing control, and they have to stop Bitcoin to stabilize the country's finances. That is the information of an article that I have read before.

campingSider

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Well most countries of the world sees bitcoin as a threat to there financial institutions due to the fact that they can control nor regulate bitcoin/cryptocurrency so you see why China ban bitcoin and other countries may follow soon in banning bitcoin.

XpanderaX

newbie

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I've heard the news that China will create its own Cryptocurrency, but I do not know for sure. obviously China is a big country that has a strong economy, and this is very unfortunately China forbid Bitcoin, because in fact many big investors from China who became investors Cryptocurrency. and this greatly affects Bitcoin and other Cryptocurrency Values.

Sir Legend

sr. member

Activity: 1792

Merit: 255

China and many countries banned bitcoin certainly have a strong reason and I think the strongest reason is fear because bitcoin is used for illegal transactions to money laundering, this is because the bitcoin feature is anonymous so everyone will never know their identity.

lida311993

jr. member

Activity: 126

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So it was just a negative temporary information throw. Not worth much to trust this news because it is bad for your nerves.

xbudahx

full member

Activity: 378

Merit: 102

If this does not affect the protocol, then this is not a problem. The BTCC shakeup was much more disturbing from my point of view, but even then the Bitcoin core of the protocol remained unchanged. Countries may try to ban Bitcoin, but people will still use it if they need it and want to use it - the protocol does not require government intervention

Th3developer

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many traders, analysts and investors in the finance of the crypto-currency sector evaluated the prohibition of bitcoin by the Chinese government as a positive event. Billionaire Tim Draper, the famous Bitcoin trader Josh Olszwicz and prominent venture capitalist and owner of Golden State Warriors - Chamath Palihapitiya, stressed that the Chinese government's decision to impose unnecessary restrictions on Bitcoin's trade and production will not be a real problem for him.

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