Topic: why China goverment allergic to bitcoin? - page 2. (Read 718 times)
I think China wants to show people that its people can develop without the aid of Internet because of which China has ban Google too.
Because China is a big country in the world, the Chinese government is afraid that economic markets will become confused after the introduction of cryptocurrencies. Therefore, China does not dare to introduce Bitcoin before it has a policy of specific control.
First, China avoids any illegal transactions, because the bitcoin transactions are difficult to trace. Second, China avoids the bubble. This is directly related to 2 of the world's largest Bitcoin markets exist in China. If there is a bubble and broke, it is certain that China will be affected by huge losses. Third, maybe 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.
Interesting to see this thread is still on top.
From a recent news, top government officials said they like blockchain technology, but things are going so fast. This is their biggest concern.
I would imagine they'd love to learn more about bitcoin.
From a recent news, top government officials said they like blockchain technology, but things are going so fast. This is their biggest concern.
I would imagine they'd love to learn more about bitcoin.
I am not surprised if they are allergic to bitcoin! They are allergic to a lot of things. They are allergic to things that is possible to hack. They are very tight of security measures. They dont even have facebook in their country. They are allergic to bitcoin simply because it is a threat to their government and investments.
Bitcoin is a threat to China's surveillance state. They hate freedom.
So far China is the center of virtual currency transactions where Two of the world's largest Bitcoin markets exist in China. Maybe the China government is afraid if bubble happens, because if there is bubble and broke it will be very big losses suffered.
China will invest heavily in digital currency, though most likely not bitcoin. The Chinese government will want to have a competitive digital currency with bitcoin. Condition of the digital currency should be able to control them.
China and India have done NOTHING against bitcoin.
They only are regulating and stopping Alt coin ICOs.
ICOs are Alt coins, NOT bitcoin.
They only are regulating and stopping Alt coin ICOs.
ICOs are Alt coins, NOT bitcoin.
We have to remember that China is a communist country that's the main reason why their government is in control of everything there, so Bitcoin being decentralized is something that they don't want their people to use. They won't be able to control it so might as well ban it to ensure that it will not be a problem for them.
china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?
China has factories in their country and they need a lot of employees in order to run the industry but because of bitcoins, most of the people are focusing on mining since the cost of their electricity are also low and they can earn more money on mining more than working on the corporate world.
china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?
China doesn`t like Bitcoin in particular, not the whole revolution. Chaina alreade uses blockchain technology. But they don`t prefer Bitcoin, because they can`t control it. Bitcoin is untraceble and anonimous. China doesn`t like it. The country is considering creating its own crypto currency, which they will be able to control.
The big deal with China is they do not allow their people to freely exchange value except via government which involves taxation and possibly forfeiting value if you are not aligned to the politics of that country or region even. Of course its not democracy and not actually capitalist. Capitalism is always capital and means of production with the people, even the West fails in this by centralising banking
What you mean is why China forbids bitcoin as a means of payment in the country. Probably the reason why China forbids its citizens to trade in bitcoin is probably the Chinese State Government thinks bitcoin can harm banks, And maybe China wants to make its own Crypto better than Bitcoin, and other reasons may be the Chinese government is afraid that one day bitcoin can beat their own country's currency.
China doesn't have freely operating banks, they are all drones of the government operations. The people are constricted by capital controls. Bitcoin avoids these two things and profits may or may not be taxed, they do not allow free enterprise in this country I think its as simple as that
Because China is a one-party dictatorship!
The decentralization of BTC is different from their governing philosophy and cannot control BTC!
The decentralization of BTC is different from their governing philosophy and cannot control BTC!
Don't know why they all are not letting btcs grow. They are missing a huge benefit for their respective countries
Because bitcoin can be taxed. The government of China wants everything be taxed because of their army. They need huge funds their military.
I think the Chinese government is deliberately trying to lower the value of bitcoin to promote the development of their own crypto. Bitcoins are not made by the Chinese, so they certainly do not want it to own the cryptocurrency market, which should be the crypto of China, probably NEO a crypto is receiving great support.
Many of China's large companies are researching blockchain technology. China is a technology that recognizes blockchains, but he does not support Bitcoin. China believes Bitcoin will undermine the national economy.
Just cos China controls everything inside the country such as new type of economics as crypto. It's normal for their bevahiour and they are smart enough to get all pro's from it getting rid of cons. Lets watch.
That's right, They will have other intentions to gain more profit than Bitcoin or another way to create a new token that rivals Bitcoin.
china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?
Its because they don't have total control over of it that's why they are so against it and with their type of government if they don't have control over something the best way they go about is is either by destroying it or banning it completely.In the quagmire of the world financial crisis, at the final juncture of East-West economic power competition, the country’s real economy must not be affected by anything. This is the main reason why the Chinese government has braked Bitcoin at this time.
China's economy is advanced, but its population base is also large. When new things are introduced, it is very easy to cause market chaos. Therefore, they can only be introduced when it is ensured that there are corresponding countermeasures to control new things, especially when it comes to the economic market.
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