Topic: Why China banned bitcoin？ - page 9. (Read 2079 times)
Because the Bitcoin exchange rate rises and falls 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.
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/
There are lots of things that can be the possible reasons why bitcoin is being ban in China. For me, the government of China ban it because they think that bitcoin can have or can create a much harmful effects to human or to their citizens. This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/
Hi,
I don't think China banned BitCoin per say but the related exchange of the currency more over there is some sign that high transfert of capital from China "directly related to the millennial generation investment flow" are gonna be transfert to BTC and crypto currecy at large. BTCBTC
The next important point would the recent involvement of China in huge infrastructure directly meant to mined Bitcoin and at a huge speed so that they could accumulate a lot of them.
I think they really believe in crypto currency but that they want to get more control of it....
I don't think China banned BitCoin per say but the related exchange of the currency more over there is some sign that high transfert of capital from China "directly related to the millennial generation investment flow" are gonna be transfert to BTC and crypto currecy at large. BTCBTC
The next important point would the recent involvement of China in huge infrastructure directly meant to mined Bitcoin and at a huge speed so that they could accumulate a lot of them.
I think they really believe in crypto currency but that they want to get more control of it....
China bans bitcoins because they think bitcoin can affect economic development. Bitcoins may overwhelm their national currencies.
I think the Chinese state forbids bitcoin, because Bitcoin exchange rate rises and falls 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. Bitcoin is potentially bubble and breaks out after a lot of popularity and many people want to have. And Bitcoin Transactions are hard to trace. It is used by irresponsible parties for money laundering, drug sales, smuggling, and other illegal activities. 
Because China only needs a currency they can control. If they can not control it better they are banned, I think it is like that.
I think they won't ban it because around 80% of bitcoins (BTC) being mined and traded in China, the Chinese government will have a major influence over the market.
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/
China is a hot spot of Bitcoin mining, a process that confirms transactions and updates the Cryptomonnaie public registry, blockchain, at the cost of huge IT resources.
However the reasons that push the Chinese authorities to melt so on the trading of cryptomonnaies remain obscure, it was reported that government officials had met with Bitcoin trading platform officials, ostensibly to discuss ways to combat the use of these services to launder The money. These meetings were followed by a three-month ban on cashing in Bitcoin transactions, which was lifted after all.
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.
I haven't found an article on this.
Can you give me a source of the articles you see?
I want to make sure of the truth of the news.
Can you give me a source of the articles you see?
I want to make sure of the truth of the news.
Chinese government never want something in their country which can influence their own currency or economy. Chinese politicians are vary much care about their own currency and banks. Bitcoin directly or indirectly affect their country own currency and negatively influence the international value of their country currency. Because of this their is negative affect shown on their countries economy. Their is no need to give you full information for money transaction through it and due to this many anti social people using Bitcoin instead of bank and this thing puts negative effect on their bank profit.
due to all those above thing chinese government ban bitcoin in their country.
This is because Bitcoin is in conflict with China's monetary strategy, with China's accession to the SDR, China's RMB internationalization strategy has been fully promoted. The internationalization of the RMB is essentially a regional centralized monetary strategy, while the decentralized this feature runs counter to China's RMB internationalization strategy and the collision of such strong currency attributes has forced China to resort to "capital punishment" over Bitcoin.
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.
The circulation of bitcoin is still considered illegal in the Chinese government because they consider the bitcoin a den of crime. Payment is for hackers and traffic
They do not banned the bitcoin at all, they just emphasize the regulation in which people really attracts to bitcoin so they can control on how people really buy or purchase the said currency.
Bitcoin is very popular in China because the number of people using it is so large that the government can't control it, so China has cracked down on the use of bitcoin. This is the performance of China's dictatorship.
I think China is not really banning bitcoin, the Chinese government has just closed some uncontrolled exchanges. This is what causes investors to panic and sell their coins, and ultimately impact on the decline in bitcoin values.
But during this mining activity is not really any prohibition.
But during this mining activity is not really any prohibition.
I think they see a threat to the long-established monetary system 
Not all wealthy people in China are well aware of paying taxes. They are ready to evade taxes if possible. Therefore, the conversion of personal property to Bitcoin is also a suitable method for evading taxes.
Probably many Chinese people invested in crypto and was scammed or something else , government tried to save situation and banned bitcoin. Nowadays their developers making new cryptocurrency.
whether this news is indeed proven. because a lot of false news is not yet known, but it has already been shared and read by people. but if indeed this news is definitely the truth. maybe it will affect the market price. recently i have read that bitcoin persists in china but its existence bitcoin is nothing compared to other coin that exist in china.
https://m.detik.com/inet/cyberlife/d-4028998/di-china-bitcoin-not-what-you
https://m.detik.com/inet/cyberlife/d-4028998/di-china-bitcoin-not-what-you
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