Topic: Why China banned bitcoin？ - page 8. (Read 2079 times)
China and many countries banned bitcoin would have argued that decentralization and anonymous are two features that the country does not like, if the government can not control it will be a big problem if used massively for transactions.
China want that money would not flow out of the country.
With cryptocurrencies it makes easy, especially with ICO
With cryptocurrencies it makes easy, especially with ICO
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/
All I know is that China's state is banning Bitcoin because China wants to create its own cryptocurrency. If China makes its own crypto, of course, the Chinese government wants its people to have crypto made its own country. And naturally, if Bitcoin is banned in China, the goal is sure that the Chinese people do not switch back to Bitcoin. This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/
I think the reason banning bitcoin in China a few months ago is unclear, but, according to some media, China banned bitcoin transactions in the country to protect its people, the Chinese government considers the bitcoin price movements is not normal, they claim the rule that is to protect the people so that not harmed.
There are many speculations why bitcoin is being banned in China and i think one of the very reason behind it is that the Republic of China thinks that bitcoin is threat to the country's economic growth as it may also threat to be a major competitor for the banks in the future.
Reason is simple, when our 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 it's more then impossible to track 1.6 billion in china
I think reading the news in some Chinese media forbidding bitcoin there are several causes, the Chinese Government issued a policy that prohibits the transaction of initial coin offerings (ICO). The prohibition was issued not without reason. There are several reasons why the Bamboo Curtain Party prohibits Bitcoin transactions .virtual currency is hard to control
Bitcoin exchange rate up and down purely following the market mechanism. Government can not control the exchange rate, Easy to use for fraud
For some people who understand the movement of Bitcoin, China is the center of virtual currency transactions
two of the world's largest Bitcoin markets exist in China. Imagine how much damage China suffered when bubble and broke out. China wants to make its own virtual money
It is not impossible that China wants to create its own cryptocurrency that can be government legality. so far many things are banned in China, in the end they make their own.
Bitcoin exchange rate up and down purely following the market mechanism. Government can not control the exchange rate, Easy to use for fraud
For some people who understand the movement of Bitcoin, China is the center of virtual currency transactions
two of the world's largest Bitcoin markets exist in China. Imagine how much damage China suffered when bubble and broke out. China wants to make its own virtual money
It is not impossible that China wants to create its own cryptocurrency that can be government legality. so far many things are banned in China, in the end they make their own.
594/5000
Po raschetam blokcheyn-yevangelista Alex de Vries v 2018 godu Bitcoin-mayning budet potreblyat' 0,5% mirovoy elektroenergii.
Eto pri tekushchikh tsenakh na BTC.
Dovol'no bol'shoy protsent, a yesli predstavit' sebe rost stoimosti BTC do ... (podstav'te syuda tsifru, kotoruyu nazyvayut samyye smelyye prognozisty), neslozhno ponyat' chto, potrebleniye elektroenergii dlya mayninga v etom sluchaye rezko uvelichitsya.
Dumayu, eto obstoyatel'stvo stalo odnim iz faktorov, zastavivshikh krupnyy kapital i pravitel'stva predprinyat' popytki "sgladit'" volatil'nost' Bitkoina. V rezul'tate, vidim koridor so sredney tsenoy 8000 $.
According to the estimates of Alex de Vries, the blocking evangelist in 2018, Bitcoin-Mining will consume 0.5% of the world's electricity.
This is at current prices for BTC.
Quite a large percentage, and if you imagine the rise in the cost of BTC to ... (substitute here the figure, which is called the most daring forecaster), it's easy to understand that, the consumption of electricity for mining in this case will increase dramatically.
I think this circumstance was one of the factors that forced big business and governments to make attempts to "smooth" Bitcoin's volatility. As a result, we see a corridor with an average price of $ 8000.
This news gap has been a problem for overall crypto users since November 30, 2017, especially bitcoin users, to me the confusion of the news has exacerbated the crypto trade situation.
A friend of mine from China told me that the ban on crypto in no way their government only make the rules so that crypto trade's protected from money laundering that might be done by corrupt officials in their country.
Initially, I'm just as you think, that they have banned cryptocurrency, because, by the time the rule is in place, the conditions of cryptocurrency in various exchanges undergo a sharp deterioration. However, after I did a flashback about the news, it turns out they are only really set that is more assertive. While the decline that occurred, caused by the closing of two largest exchange accounts in China.
A friend of mine from China told me that the ban on crypto in no way their government only make the rules so that crypto trade's protected from money laundering that might be done by corrupt officials in their country.
Initially, I'm just as you think, that they have banned cryptocurrency, because, by the time the rule is in place, the conditions of cryptocurrency in various exchanges undergo a sharp deterioration. However, after I did a flashback about the news, it turns out they are only really set that is more assertive. While the decline that occurred, caused by the closing of two largest exchange accounts in China.
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/
For half a year or so, China was the dominant region for bitcoin in the world, but then, when capital flight from the country accelerated, the government and the central bank began suppressing the crypto currency, first by banning ICO, and then closing the local exchanges.
Well most countries of the world sees bitcoin as a threat to there financial institutions due to the fact that they can control nor regulate bitcoin/cryptocurrency so you see why China ban bitcoin and other countries may follow soon in banning bitcoin.
The situation with cryptocurrencies in China has seriously complicated, when bitcoin has risen sharply, as it has increased the risk of speculation by Chinese investors. According to analysts and investors, one of the reasons for the growth of bitcoin last year was that the Chinese began using coins as a way to bet on the fall of the yuan.
I think Bitcoin as a virtual currency is entirely self governed, meaning it is not controlled by any government, businessman or a central authority. This also makes China not being able to monitor it, and that would not satisfy the Chinese authorities.
I'm sure it might be because of the issues we have in crypto. The scam, phishing attacks, volatility and others
But the governments are not always right though! Because they'd want to tax it, get rid of anonymity and others that we also don't want
But the governments are not always right though! Because they'd want to tax it, get rid of anonymity and others that we also don't want
because of training on this exchanges, the exchange rates were low, so it was also bad for Chines currency.
Most of the countries are against bitcoin. It's not just about bitcoin, it's about all the crypto money.
I wrote the reason under many headings. I repeat.
Blockchain! Here's the biggest reason.
With this system, we can transfer funds very quickly and very reliably. But the country does not like to be followed and id for privacy reasons.
I wrote the reason under many headings. I repeat.
Blockchain! Here's the biggest reason.
With this system, we can transfer funds very quickly and very reliably. But the country does not like to be followed and id for privacy reasons.
maybe because they cut off the domestic access to platforms and exchanges that enable people to trade digital currencies, and it has been reported as of now. They will block access to domestic and foreign services in order to prevent financial risk and china does not want any currency that they can not control and in the end they banned bitcoin because we know that bitcoin can not be controlled by anyone, nor government from all countries in this world
the Chinese regulatory authorities so resolute and China is a foreign exchange control country, bitcoin's anonymous Internet transactions can perfectly bypass the central bank's foreign exchange defense line and make the policy of foreign exchange control ineffective. Bitcoin also provides great convenience to laundering money-laundering transactions in China's enhanced regulatory zone, great threat to the Chinese central bank's foreign exchange policy and regulatory policies....
China has banned Bitcoin. Because China treats Bitcoin as a threat to its country. Because China believes that people of China will use Bitcoin, people will invest more abroad, so that most investments from the country will go abroad. This will only harm China. So China has banned Bitcoin.
China can not go outside the money exchange policy as a foreign exchange country. Bitcoin is the online technology and it is not central to any bank, and because it is not coordinated by any government, China has announced Bitcoin closure in their country.
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