Why China banned bitcoin？ - page 22.

bosimpson54

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Quote from: gcckpxm62308 on January 26, 2018, 03:42:42 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/

In my opinion, China prohibits Bitcoin because in the country they have little knowledge of Bitcoin and the virtual economy market, China is the wealthiest country regarding land and population, but maybe the government in the state It is feared that Bitcoin could reduce the economy, so they banned Bitcoin.

LitecoinDarkFilm

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I think the thing is that now bitcoin could threaten the economy of China, and China in turn does not want to lose the global economic dominance

weblouartisan

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Lets Go Adab

Quote from: gcckpxm62308 on January 26, 2018, 03:42:42 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 believe that bitcoins is terribly affects their economy so bad but the good thing is that, ico's is only banned and people can still use cryptocurrency whenever they want so we should not worry about bitcoin if it will decrease.

amwer

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Bitcoin's work is illegal. So the Chinese government banned it.
If China does not allow Bitcoin to use the world's second largest economy, then it is likely that many more countries follow the same method. And since Bitcoin is not controlled by any country's central bank, so many countries will not want to make alternative money system.

kyle999

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The china is rich and they have all the things that are not present.
and they have the things we need so they do not want the bitcoin because of the fact that there will be a process when they enter bitcoin in china.

Carmen03

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China is planning to cut off domestic access to platforms and exchanges that enable people to trade digital currencies,it has been reported .Bitcoin and all the other major digital currencies plummeted after it emerged that trading could be banned in South Korea. Speculation around the Chinese government plans for a major bitcoin crackdown have likely also contributed to the huge decline that have happened across the board.

octopus

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I do not scare the banning of China because there are hundred countries still welcome BTC such as Canada. China is just one market in hundred market and BTC still rise up in the future

spaso_87

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Quote from: gcckpxm62308 on January 26, 2018, 03:42:42 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'm not sure why China is banning Bitcoin. But I'm sure the Chinese government would have thought about this very maturely and had dared to take any risks that will occur later. So I still appreciate the Government of China that has made this decision.

BitcoinMarketer39

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ADABsSsSsSsSSSsS

Quote from: gcckpxm62308 on January 26, 2018, 03:42:42 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/

China cannot handle the growth of cryptocurrency as well just like other countries and may be it is affecting their economy badly that's why they ban all the icos in their area but not the entire cryptocurrency so they can still mine coins and earn profit passively.

captin crunch

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Quote from: gcckpxm62308 on January 26, 2018, 03:42:42 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/

It is not banned it is regulated, and they need the regulations as crypto trading damaged their currency and harmed economics.

nugrama

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Perhaps one of the reasons China prohibits Bitcoin is due to the large human population and they are difficult to control it. and many other reasons would have been in addition to possible major countries like China they feel in the presence of shallot trade disadvantaged Bitcoin.

kissme09

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PayAccept - Worldwide payments accepted in seconds

There are many reasons China prohibits Bitcoin (crypto) in their country. Find out about the reasons for the ban. A unique thing that banned them is the capital. People return to infrastructure development projects and invest in Bitcoin, which makes it the primary source of income for a taxpayer, which is what prompts China to ban it.

endlings

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Quote from: gcckpxm62308 on January 26, 2018, 03:42:42 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/

Because bitcoin can not be controlled, many people in China use bitcoin for illegal transactions such as money laundering, drugs, etc., and because of the high risk of bitcoin, they think it is not suitable for people to participate in. As for more ideas, Probably because nobody is going to do some real work because of the bitcoin's overcommitment and more people involved.

SparkSun

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China does not prohibit bitcoin, just do not think it is a currency, of course, bitcoin is now just a virtual product, even if the circulation of the world is only a transfer function, which itself involved in money laundering activities, so the need for an anti-money laundering protocol to join Trading platform, due to the small amount for the money-laundering people,

DoublerHunter

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They banned bitcoin or cryptocurrencies in general because they noticed the scams that is happening on the ICOs so they don't want to experience it anymore so they decided to just ban the cryptocurrencies which is not a good idea for them because they can just make a regulation to avoid scams and not fully banned bitcoin and other cryptocurrencies.

shainasaz

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The truth in line with that question why china banned bitcoin because it is decentralize form o systems and chinesse government cannot regulate the bitcoin transaction, stiil the government hard to fine a solotion for that transaction but still chinesse government will find to make a resolution to regulate for that matter.

Arwinkim

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China is highest populated country in the world. The gov't needs to protect the people from criminals using bitcoin. It's really dangerous because it is untraceable. Imagine if corrupt politician use it for money laundrying.

Blueblade

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The authorities in China have already banned ICOs and shut down domestic exchanges, but that didn’t solve the issue of people accessing foreign services within the country.Now, according to local media, China will block access to domestic and foreign services “to prevent financial risk.” China has a long tradition of blocking unwanted foreign websites using the so-called Great Firewall of China.

coiner27

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It's not totally ban. They just strenghten the regulations because theu can't control it. China is a communist country, means they control everything, and since they can't control cryptocurrency, they made the regulations strenghtened. There are many investor in China and they found that some big investors joined this kind of industry, thats why they revised and strengthen the regulations.

Doge dealer

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china is claiming that they are protecting there people from financial risk however what they are doing is creating an environment where their people will now have to find "under the table"ways to access bitcoins thereby exposing them to situations where bitcoin transactions become really risky as they may now be exposed to illegal issuance, fraud and pyramid selling , they should think twice because they are only fueling the "black market" or maybe that's the intent?

Topic: Why China banned bitcoin？ - page 22. (Read 2150 times)