Why China banned bitcoin？ - page 27.

hdasd

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Quote from: johnwest on January 26, 2018, 04:52:24 AM

I couldnt find any article or news relating to this.. Roll Eyes

There are many countries who are worried about the price volatility of Bitcoin and try to regulate it with harsh tax methods or KYC standards for exchanges but I dont think they will ban bitcoin, simply because they cant ban it completely.

Bitcoin was staging a tulip bubble of the year. 70% of bitcoin is excavated by Chinese every year. Although Bitcoin is a medium of exchange, it is not so much a currency as it is a commodity. The regulatory authorities in mainland China have all along stressed that the economy should take full advantage of the reality and protect the real economy.

ClumsySmile45

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Quote from: onnz423 on January 26, 2018, 06:02:23 AM

China has not banned bitcoin, I don't know why morons like you keep spreading fake news. Are you trying to spread FUD around bitcoin? Are you a ripple shill? Stop posting your moronic titles without actually understanding the matter. China is strengthening regulations surrounding bitcoin, it is not an outright ban. You will still be able to hold and transact bitcoin in China.

Yeah, I do agree with this. China cannot totally ban the use Bitcoin instead they imposed some regulations on the use of it.

gcckpxm62308

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Quote from: Matildada on January 26, 2018, 06:53:27 AM

I wonder when this is?
I've been following the news about bitcoin in China.
But I didn't get the news.
I'd like to confirm it as soon as possible.

This is what I read on the website of China, there have been many media coverage of this news. For example, Sohu and Sina Finance have all been reported, and it is also possible that the Chinese media have rumored to attract people's attention but I believe it.

Advicerabi

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China is a Communist country that does not give full freedom on their society. Chinese Government can not regulate the existence of bitcoin, and none of the advantages they would receive.

Matildada

newbie

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I wonder when this is?
I've been following the news about bitcoin in China.
But I didn't get the news.
I'd like to confirm it as soon as possible.

gcckpxm62308

member

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Merit: 21

Quote from: onnz423 on January 26, 2018, 06:02:23 AM

China has not banned bitcoin, I don't know why morons like you keep spreading fake news. Are you trying to spread FUD around bitcoin? Are you a ripple shill? Stop posting your moronic titles without actually understanding the matter. China is strengthening regulations surrounding bitcoin, it is not an outright ban. You will still be able to hold and transact bitcoin in China.

Hello, I also saw the news on a lot of Chinese news on some networks, and then I just took it for granted, your misunderstanding of me makes me very sad, I am a bitcoin supporter. I do not want to spread FUD around bitcoin and I was also misled by the media reports. The purpose of their coverage should be to arouse bitter panic of bitcoin holders. Thank you for reminding me and I will pay more attention to my words and deeds in the future.

Hodlvcl

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That is a wrong decision of the Chinese government, because they do not want the property of the people are transferred abroad

kirana08

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The reason china forbids BTC is:
Virtual currencies are hard to control
Bitcoin exchange rate up and down purely following the market mechanism. The government can not control the exchange rate, unlike the yuan against the US dollar. The government does not like something that can not be arranged.
Easy to use for fraud
For some people who understand the movement of Bitcoin, it could be a profitable investment. But for those who do not understand can be bandwagon and entrust the money to buy Bitcoin through any place so that there can be fraud.
Destroying the investment world
Bitcoin is potentially bubble and breaks When bubbles break and prices fall, investors will be harmed.
Two of the world's largest Bitcoin markets exist in China. Imagine how much damage China suffered when bubble and break.
It is not impossible that China wants to create its own cryptocurrency that can be government legality. During this time many things are banned in China, in the end they make their own

gcckpxm62308

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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 also read in a news report on a Chinese website that China has now tightened its controls on bitcoin. I could not find the news article, but it is also likely that Chinese media have exaggerated reports on bitcoin.

Maryverycool

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I asked my Chinese friend.
He said he had received no information about the ban.
So I question the accuracy of your message.

onnz423

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China has not banned bitcoin, I don't know why morons like you keep spreading fake news. Are you trying to spread FUD around bitcoin? Are you a ripple shill? Stop posting your moronic titles without actually understanding the matter. China is strengthening regulations surrounding bitcoin, it is not an outright ban. You will still be able to hold and transact bitcoin in China.

Allison567

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Because bitcoin is decentralized and out of government control, and China is the world's most populous nation, the country's economic markets are inherently difficult to control. With the introduction of bitcoin, a decentralized digital currency, China should be concerned that this would Economic market disorder.

nickybon

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Is this news really accurate?
I have found and do not see any information related to it! Huh

ainunfm

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china is communisme country so the goverment control the people and that contradict with bitcoin itself and another reason is because much miners in there consumed much electricty energy or due stock reason with bank of china
https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/

sudhirratra68

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If it is really a ban and not just because of being hard to put this into regulations, probably, there may be the following reasons that China banned bitcoin.

1. The bitcoin ban is a way for China to enforce capital controls.
2. Chinese own money is going out of the country for investments in foreign countries and that could be a threat to their economy.
3. Despite China’s ban on cryptocurrency exchanges, there may be a plan of the government to issuing its own sovereign digital currency.

Kazarang

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Quote from: Pursuer on January 26, 2018, 05:26:48 AM

Quote from: Greenkarki on January 26, 2018, 05:12:00 AM

www. newtraderu .com

this does not seem like the most reliable source that you could use!

I am still going to say the same thing as ever: they never banned bitcoin. they closed down their exchanges that were unregulated and shady. and they did that months ago and nothing has changed that I am aware of so far.

as for people, they are still mining bitcoin and trading bitcoin and other cryptocurrencies off the counter and went back to the real way of trading decentralized cryptocurrencies meaning peer to peer.

It's true, all the countries of the world understand, to prohibit bitcoin is not real. So they try to regulate it in some way according to the laws.

Pasadoble

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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?

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.

Pursuer

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Quote from: Greenkarki on January 26, 2018, 05:12:00 AM

www. newtraderu .com

this does not seem like the most reliable source that you could use!

I am still going to say the same thing as ever: they never banned bitcoin. they closed down their exchanges that were unregulated and shady. and they did that months ago and nothing has changed that I am aware of so far.

as for people, they are still mining bitcoin and trading bitcoin and other cryptocurrencies off the counter and went back to the real way of trading decentralized cryptocurrencies meaning peer to peer.

yytcoin

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In essence, the digital currency is only code, and how much similar code can be created, the main body of the discouragement did not dampen the enthusiasm of investors, only when that string of code hit in their own hands to awake. Therefore, the ban on bitcoin transactions in China is to prevent similar "tulip bubble" to bring you unpredictable losses to investors.

TheBTCpost

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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?

All about banks controlling the money, money laundering also

These country’s hold on tight to the USD and don’t want it to leave the country. Bitcoin allows the traders / investors to make big USD gains.

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