China did not banned Bitcoin but rather strengthen their regulations specially this 2018 when it comes to cryptocurrencies. PBOC issued a statement regarding this concerned for the simple reason of eliminating fraud.
https://news.bitcoin.com/china-strengthen-cryptocurrency-regulations-2018/
Topic: Why China banned bitcoin？ - page 19. (Read 2080 times)
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.
And china cant banned bitcoin since this is a electronic currency,maybe the transaction or the usage of the coin is what your implying?and since septembet this damn issue is on the air anyway cryptocurrency world will live even without Chinese so better not to make this big deal..you wont die if china is not arround right?l✌️ 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.
china probably prohibits the use of bitcoin because bitcoin has a total supply that is limited and if used in Japan the total supply of bitcoin will not be able to reach the Japanese population who will use bitcoin so they prohibit the use of bitcoin in the country.
China loses a lot of income, because of training on this exchanges, the exchange rates were low, so it was also bad for Chines currency.
Maybe china trying to make their own Cryptocurrency and ICO only for their country see this.Using this they can stimulate their economy through embedding an expiry date on digital currency forcing consumer to spend it within a certain period of time, in this china well be dominate the top foreign exchange reserve. China has the largest reserve in this recent years with a staggering 4 trillion and counting
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/
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/
News;
-the Chinese police seize 600 bitcoin mining computers over electricity theft.
Consecure prepares costumer claim process for stolen bitcoin.
-Taiwanese gangsters shoot bitcoin miner,who blames chinas crackdown.
-one of the reports states that despite the official ban companies operating
In chinas cryptocurrency exchange.
Another silver lining to crypto currencies when governments ban ICO's is that there will be no new cryptos and only the current cryptos remain. No government can confiscate them, so they will go up in value. There will always be a very large number who are libertarian at heart, just like you and me, and we will always find ways to do transactions with each other, so that part of the economy will remain invisible for authorities forever. This is even true when those criminal bankers and governments find a way to switch off the internet.
I heard the news about bitcoin in china . The cryptocurrencies rose struggled for a bit since China was one of the countries with the highest trading volumes for cryptocurrencies in the world but they recovered and reached their new all time highs. China has since kept up its efforts to curb cryptocurrencies and completely banned the CNY based trading with cryptocurrencies a few months ago. It has not yet let up on its continued fight against Bitcoins in the latest move to stamp out the Bitcoin mining operations in the country.
China bans transactions bitcoin because bitcoin is one of digital currency and digital currency is the currency of which is difficult to be controlled or unstable.
Any digital currency is known to damage the investment world is real because a lot of the fraud therein. This virtual currency and includes currency is illegal or not authorized because it does not look like what is his real form and what kind.
Any digital currency is known to damage the investment world is real because a lot of the fraud therein. This virtual currency and includes currency is illegal or not authorized because it does not look like what is his real form and what kind.
Since January 8, 2017 China legalizes bitcoin on the grounds:
1.China want to make money digital / virtual own.
2.In use for illegal transactions.
3.China become the center of virtual currency transactions.
4. damaging the investment world.
5.Bitcoin can not be controlled by the government.
6.Easy to use for fraud .
1.China want to make money digital / virtual own.
2.In use for illegal transactions.
3.China become the center of virtual currency transactions.
4. damaging the investment world.
5.Bitcoin can not be controlled by the government.
6.Easy to use for fraud .
The Spring Festival is a very important festival in China, you need to buy and buy many things for the Spring Festival, such as buying new clothes, buying couplets, giving gifts to parents, gathering, etc., and the Spring Festival Prices are high, which all need to cash Bitcoin, which affects the price of bitcoin.
China prohibits Bitcoin because it belongs to national policy. As a country with a large number of corrupt officials, the amount of corruption is terrible, the fact that they are transferring illegal money to Bitcoin is a wise way to avoid the investigation of the ruling. Therefore, in order to prevent illegal dispersal of property, the Chinese government has banned Bitcoin. This is just one reason why they are banned from Bitcoin. In addition, there are a number of other reasons.
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.
I heard some issues and the reason why china forbids crypto is because the Chinese state money has started to shift and lost with bitcoin. other than that shina became one of the countries that many people use bitcoin so that is the main problem why the government can be firm and act to ban bitcoin.
For me i think China ban bitcoin because they don't want their people to earn money in easy way they want their people to be industrious not to earn money that they don't deserve and banks will be bunkrapted. 
I think there are 6 causes:
- Virtual money is hard to control
-Easy to use for fraud
-Danger the investment world
-Chinese become the center of virtual currency transactions
-China wants to make his own virtual money
-Used illegal transactions
In my opinion anyway
- Virtual money is hard to control
-Easy to use for fraud
-Danger the investment world
-Chinese become the center of virtual currency transactions
-China wants to make his own virtual money
-Used illegal transactions
In my opinion anyway
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/
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/
虽然比特币不一定靠谱，但政府发行的货币显然更不靠谱。于是，两害相权取其轻。
Virtual currency or bitcoin is difficult to control the Government, while the Chinese state does not like something that can not be regulated, and can Ruin the investment world for the country of China. the center of virtual currency transactions. Two of the world's largest Bitcoin markets exist in China. Imagine how much damage China suffered when bubble and break. Used illegal transactions Bitcoin transactions difficult to trace It was made use by irresponsible parties for money laundering, drug sales, smuggling, and other illegal activities.
It should be noted that despite the ban on BTC trading, many traders will be able to use over-the-counter platforms such as Telegram (because they provide privacy). Telegram is also illegal in China, so only those who know VPN technology will be able to evade the ban and set up an account there.
Although the People's Bank of China officially supports blockchain-based technologies behind Bitcoin, it still supervises them. The suspicion of the bank is due to the fact that during the transaction in the Bitcoin network it is possible to bypass capital controls. The Chinese government is afraid of a further deterioration of the country's economic situation, which started in 2014 and lasted until 2016, which is why it protects the yuan's exchange rate and engages in crypto-currencies such as Bitcoin.
Although the People's Bank of China officially supports blockchain-based technologies behind Bitcoin, it still supervises them. The suspicion of the bank is due to the fact that during the transaction in the Bitcoin network it is possible to bypass capital controls. The Chinese government is afraid of a further deterioration of the country's economic situation, which started in 2014 and lasted until 2016, which is why it protects the yuan's exchange rate and engages in crypto-currencies such as Bitcoin.
I think other country dont ban crypto currency or bitcoin because they can realy ban it but they are just trying to be more strict when it comes to crypto currency specialy in ICO. Because some ICO is scam and this is the most hot topic now around the world.
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