Why China banned bitcoin？ - page 24.

Mazda17

full member

Activity: 392

Merit: 101

Quote from: bttcoin on January 26, 2018, 04:06:42 AM

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, can not play a leading role, and now the value is high, it will certainly be used.

A good opinion and I like your opinion.
Actually china will not kill or eradicate the bitcoin, it's just chinese it bluffs the bitcoin users so they sell cheaply then that's why china can buy it with very cheap price and they will sell it with very expensive price, let alone bitcoin users mostly from china so it's perfectly natural for a blasphemous person to be afraid to keep a lot of bitcoin if the tip is cheap, so they will sell it for quick money.

crairezx20

legendary

Activity: 1638

Merit: 1046

Quote from: Warren Buffert on March 05, 2018, 01:55:04 PM

Why is this still being discussed, it is not banned.

They are still pretending that China banned bitcoin they are not thinking why bitmain still selling antminer.

Only ICO's was ban base on what I heard not bitcoin. This is still fud and they keep spreading this fake news.

I heard from China friend that bitcoin is now regulated heavily. So it's not banned.

Warren Buffert

full member

Activity: 364

Merit: 102

Why is this still being discussed, it is not banned.

brickafterbrickwalldpt

full member

Activity: 294

Merit: 107

China is a specific country. A lot of people live there with limited information because of The Great Firewall of China, it works quite well but it is fairly easy to evade this restriction using proper VPN services. They are afraid of Bitcoin because they can't cut it off like they did with certain webpages and content on the Internet. It will be interesting to see what will happen when Chinese people will switch to cryptocurrencies. Cashless transactions are very popular in huge cities so I guess that it wouldn not be a problem. They just have to learn about Bitcoin.

vladimirnesgibaev1

newbie

Activity: 49

Merit: 0

Tell us about how do you earn, invest or trade, or do you do anything else?

lanareyDEY

newbie

Activity: 54

Merit: 0

There are many projects in which you can invest a fairly small amount, and check it for efficiency

aleksej.rozhkov

member

Activity: 238

Merit: 10

Because the government is crazy. China thinks that it is independent of all strange external digital innovations.

jakagintiri

member

Activity: 420

Merit: 10

www.coinxes.io

Bitcoin exchange rate up and down purely following the market mechanism. The government can not control the exchange rate, the Government does not like something that can not be regulated, did not rule out China to create its own crypto that could become the government's legality.

JerryJam

member

Activity: 238

Merit: 11

Some Chinese investors and financial analysts consider the ban on bitcoin a positive development.The people's Bank of China plans to develop its own national digital currency. If this happens then the ban on bitcoin can be continued. But Chinese traders will still use bitcoin if need be. They go to the markets of Japan, Hong Kong, South Korea and others.They have the largest cryptocurrency trading platform.The Chinese government will lose the opportunity to manipulate the market.

kasansa

member

Activity: 118

Merit: 10

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/

We have already seen china taking contrast decisions related to bitcoin regulation.Some times.PBOC strictly regulates exchanges and we hear the news that china is going to ban bitcoin totally and then suddenly we see china being lenient to crypto currencies.Its totally a suspicious country in all aspects.

Marucya

full member

Activity: 258

Merit: 100

China is an attractive place for private investors, who until recently bought mostly crypto currency instead of Yuan. And this caused concern in the highest echelons of Chinese power.
The truth is that Bitcoin is here to stay, regardless of the ban on crypto-currencies in China.

AlexanderAnthony

member

Activity: 168

Merit: 11

Based on the news that I have read the Beijing states that Bitcoin is not a currency, and prohibits banks and other financial institutes from trading in it (No middle man) and at the same time, the government acknowledges the cryptocurrency as a “commodity traded online” and allows the public to buy and sell it as they please, with its only proviso being that they do so at their own risk, with that said China adopts a relatively hands off approach to the cryptocurrency.

Falgorn

full member

Activity: 364

Merit: 100

I think that the Chinese government is concerned about the growing power and popularity of digital currencies - which could potentially weaken the official control of China's money supply.

binghope

newbie

Activity: 224

Merit: 0

According to press reports, China has not banned bitcoin. They still offer normal bitcoin deals, but they have made the rules more strict. As when withdrawing the bitcoin from wallets to cash, they require identity verification. Then you can withdraw. This gives them more control, avoiding the money laundering of officials taking bribes

motoprose

member

Activity: 195

Merit: 41

China has become a not crypto-friendly zone in the world.

People are moving out their businesses that has anything to do with bitcoin in the droves.
Mining and crypto trading is not welcome business there any longer. Undecided

santafewarrior1980

jr. member

Activity: 179

Merit: 1

I believed Bitcoin is not totally banned in china because there are still Chinese doing transaction with bitcoin.

KingScorpio

sr. member

Activity: 1470

Merit: 325

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/

Actually this Ban is just temporary even super dense populated urban China cant in the long term upkeep their centralised financial system,

the reasons are diverse,

some main ones is about the secured access to consumption capacities for specialised laborers,

adolf hitlers echo is still present in many societies abroad,

but in the end it will be dropped anyway.

suvo05

sr. member

Activity: 1162

Merit: 260

China has history of banning several thing, and it is a very long list. Google, Youtube, Facebook, Twitter ,....the list goes on. So it is not so much surprising that bitcoin is also in that list.

pekavcilar01

newbie

Activity: 238

Merit: 0

It's a completely strategic event.
These tweets are making a lot of false news in the environment.
They are saying that the government is bringing a ban and they are letting people sell their bitcoins. On this count, the whales are screaming.

syarifudin

sr. member

Activity: 397

Merit: 252

Why China forbids its inhabitants to trade in bitcoin!
Maybe the reason is because china is afraid that bitcoin will replace paper money in the country (china) and they are also afraid that bitcoin will harm the state bank, and one reason may be that china wants to make a Crypto currency better than bitcoin and more in demand by the entire population of the world.

Topic: Why China banned bitcoin？ - page 24. (Read 2150 times)