Topic: Why China banned bitcoin？ - page 5. (Read 2079 times)
Bitcoin try to regulate it with harsh tax methods or KYC standards for exchanges
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/
oh because they think that bitcoin is weakening their economy thats why they banned bitcoi so that they can prevent from that failure This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/
The Chinese government sees bitcoin as virtual currency. Bitcoin weakens China's economy.
This is bad news.. I don't know the reason.. But, I think bitcoin is not worth to be banned in China.. Because bitcoin is a good currency, China should learn bitcoin first.. Hopefully one day China can change its perspective about bitcoin...
China just ban Bitcoin and ICO as competitors for creating its own cryptocurency. But with this they make great influense on global community and crypto-currency volatility, as well as South Korea.
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/
Bitcoins in China was banned due to the uncontrolled volume of bitcoins in the country. They had to 'ban' it or better yet control it with stricter regulations that would somehow control the flow of bitcoins in the world. With that kind of control, they can shift the balance of the economy to its proper place.
China ban bitcoin because can't control it. Bitcoin is now only a virtual product, even if the world circulation is just a transfer function, which itself is involved in money laundering activities, so the need for anti-money laundering protocol to join the platform Trading, because of the small amounts for money laundering people, can not play a major role, and now the value is high, it's bound to be used.
This may include, in particular, the direct restriction of the supply of electricity to the miners. In China, almost 80% of the world's mining capacities are located, and their closure can seriously affect the market of bitcoins.
I don't know if China really banned Bitcoin. because when you search on youtube about Bitcoin Mining, you will see that the largest bitcoin Mining ever built is in China. maybe they just have some strict regulations, particularly on Bitcoin. Perhaps, they are just protecting the Interest of their Country. we still do not know the real reason behind it.
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/
if for now I know that bitcoin is not prohibited by china country to circulate. so if any news about this do not immediately believe. as this will only make the bitcoin down.
China is a communist country which otherwise likely to support a system which could brought equal distribution of wealth on the government and for the people. They could have a better way or solution on implementing their own currency that they could manage and centralized in terms of their government.
Beijing states that it is not a currency, and prohibits banks and other financial institutes from trading in it. 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.
Guys are you still talking about China banning crypto? It never happened and probably never will. They ae interested in this market and all they will do - is regulate it.
Did China really banned bitcoin? How? At what stage is it already now? Basically, if we generalize it, Government's lifeblood is taxation. Some countries lives because of the people's or citizens of one's country is paying taxes. Where does taxes being based from? Technically from his or her source of income. And yeah! This is where it starts. Because cryptocurrency is on line with underground economy, cryptocurrency earnings are not taxed, does giving effect to the individual especially the Government themselves.
China actually banned everything from the outside
I heard about this, but I haven't find any article or news relating to it.
Though there are many countries who are worried about the price volatility of Bitcoin and try to regulate it with harsh transaction methods or KYC standards for exchanges but I don't think they can ban bitcoin, they can only find a way to protect their people from being scam
Though there are many countries who are worried about the price volatility of Bitcoin and try to regulate it with harsh transaction methods or KYC standards for exchanges but I don't think they can ban bitcoin, they can only find a way to protect their people from being scam
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.
in my opinion one of the reasons china forbids bitcoin one of the virtual currency or bitcoin that is difficult 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 regulated.
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 regulated.
the reason is the same as with the ban in other countries. The government is afraid of everything that can not control. Half the Internet is banned in China. This is a country with a communist system. What more can you expect from them?
It seems obvious the reason china block bitcoin. As I know It's because China already has its own digital payment system, where China can manage its digital money and get its entire community to start using it. If bitcoin enters china, it will become a competitor and even bitcoin will get rid of it.
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