Topic: Why China banned bitcoin？ - page 6. (Read 2150 times)
Because many Chinese people are abusing the use of bitcoin. And also the Chinese government forbids bitcoin transactions in order not to affect the currency price of the country.
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/
For me, they ban the bitcoin in their country because bitcoin is decentralized which means bitcoin doesnt use any taxes, the government will not earn any tax from any transactions that uses bitcoin. This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/
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/
Maybe china is not really going to ban bitcoin but regularize it. China as one of the most influencial country might have not thought bitcoin to be this powerful amongst its people. This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/
China's state television is publishing messages that are bad for cryptocurrency.
But a lot of people who don't know how to encrypt money use these messages to invest in encrypted money!
Maybe new investors will bring the market up!
But a lot of people who don't know how to encrypt money use these messages to invest in encrypted money!
Maybe new investors will bring the market up!
I think it's because of the negative impacts that bad defamatory actors cause, they abuse bitcoin by criminals and deal with bitcoins. so now bicoin polluted, not even close the possibility of other countries will follow it ..
I think the article you give is a bit wrong because in China it should be bitcoin acceptable and can be used for some payment method, because I think it is impossible if china prohibits the circulation of bitcoin.
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/
Because Bitcoin serves as a alternative value against a Renminbi (also known as Yuan) during the course maintained voluntarily low by the local authorities. A wool stocking that now attracts more than gold
Reason is simple, when there government looks at bitcoins, they are incapable of tracing any person or company holding responsibility for Bitcoin not only in their jurisdiction, but in the entire planet! so i think that's the reason.
As far as I know, China is an anticorruption country. This also makes China not being able to monitor it, and that would not satisfy the Chinese authorities. If the government can not control it will be a big problem if used massively for transactions. And I've read China will make its own cryptocurrency.
I hope that in the near future, China will have policies and regulations on the market cryptocurrency and will not prohibit bitcoin which in turn will participate in bitcoin. Currently, a number of developed countries around the world are using bitcoin and I think China will quickly use bitcoin.
want to ban bitcoin in china because they do not want bitcoin because maybe so many bitcoin sellers are falling so they do not want to lose their china so they do not want bitcoin but bitcoin longterm even if it drops good hold bitcoin
I think, China banned bitcoin is because it is decentralized and nobody can control it. I think the reason is simple, all the property and assets of a person is taxable and they can't impose tax on bitcoin. They can't also control the in and out of bitcoin wealth of their people.
china is unique country, the bitcoin in chnia is not banned i think, chinese people still can use bitcoin as i know, the government create a new policy about bitcoin about the regulation of bitcoin, so i think bitcoin still can use in china. we can see that there are many project from china right now
china banned bitcoin wherein we didn't heard the news. China 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.
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/
What China did is ban banks that deal with Cryptocurrencies not the Cryptocurrencies themselves. Reason is simple, they are incapable of tracing any person to a transaction so government cannot ensure preventive measures against fraud, money laundering and other criminal activities. Its unlikely they will effectively eliminate Cryptocurrency trading completely. China is home to a large number of bitcoin mining farms but it appears they are too clamping down on this because they have consumed huge amounts of resources.
China is not going to ban Bitcoin. It's just a rumor that some Chinese sprout whenever they want some cheap coins. They have done it multiple times in last few years.China also banned Bitcoin in 2014, 2015 and 2016.
Bitcoin has been banned in many countries. One of them is China. We know that bitcoin has been banned in China. China has been bitten by bitcoin because China's own money is going out of the country for investments in foreign countries and that could be a threat to their economy. I think there is nothing on their mind that those who bitcoin ban
The reason for that is simple. The Chinese government doesn't want its citizens to be putting their money into something which it can't control. By using Bitcoin Chinese people and companies can avoid paying taxes and can get their money out of the country pretty easily.
It's not just about people in China who are buying Bitcoins, the Chinese government is reducing the number of miners in the country too. The way their doing this is not just by putting up laws and through their central bank. The government is actually reducing the amount of energy available to miners. The reason that China was such a suitable place for miners was because of the low energy costs. Many large mining setups in China have started moving to other countries.
This is due to the fact Bitcoin is in a war with China's economic method, with China's accession to the SDR, China's RMB internationalization strategy has been completely promoted. The internationalization of the RMB is largely a local centralized monetary approach, whilst the decentralized this option runs counter to China's RMB internationalization method and the collision of such sturdy foreign money attributes has pressured China to resort to "capital punishment" over Bitcoin.
I think if they can not set the bitcoin, they all decide to ban bitcoin from their country, also they come to overthink that it might cause their people not to work and focus on bitcoin which will be a big problem for them so that's why they are bitcoin forbidden.
Maybe because China is a communist country, they do not want anything or something to crawl under them, they do not want transactions not regulated by their government, they do not want such types of transactions, what the emperor says will be obeyed, everything must be in control they.
I've heard the news that China will create its own Cryptocurrency, but I do not know for sure. obviously China is a big country that has a strong economy, and this is very unfortunately China forbid Bitcoin, because in fact many big investors from China who became investors Cryptocurrency. and this greatly affects Bitcoin and other Cryptocurrency Values.
I think china banned bitcoin because china scared if the bitcoin currency will replace on own currency and we can see china is a rich country and china dont need a other currency because the money of china is high value unlike in other country.china scared also to replace on own currency because if the bitcoin will the mean currency of china the government did not get tax.
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