Topic: why China goverment allergic to bitcoin? - page 3. (Read 718 times)
The main problem is that the country has a very serious corruption problem. They can not control the bitcoin, so they can only forbid it, so chances are it makes the Chinese country allergic to bitcoin.
govermentChinese can not to impose taxes on Bitcoin, so they seek ways to prevent their people from using Bitcoin.
Any government can indirectly impose tax on crypto in its entirety, so that's not a problem at all. China's main problem is how madly paranoid they are when it comes to capital outflow. It has been like that for years now, and the only thing crypto did was making China's paranoia worse. Instead of somewhat controlling the situation, crypto wiped all their prior efforts off the table, and formed more of a potential threat in that aspect than ever before. That's why it actually surprised me that China didn't take any actions against crypto years ago already. It's either them at that point having believed that crypto wouldn't last, or they thought it was a manageable threat. Whatever turns out to be the case, their actions against crypto in current days speak for themselves. I however believe that their sanctions aren't final, but just an attempt to buy time in order to come up with proper regulations....
Because bitcoin is not conducive to centralization of the Chinese government, it threatens the dominance of the Chinese government, so they can only strictly supervise Bitcoin and control Bitcoin as much as possible.
Unfortunately, the BTC's enthusiasm has left the Chinese government concerned. Government officials, including the Chinese prime minister, have repeatedly expressed concern over the psychology of virtual money.
People worry about this: I worry too much. My money will be thrown into the trash if the government closes the trading floor
People worry about this: I worry too much. My money will be thrown into the trash if the government closes the trading floor
For a justifiable reason: governments would prefer not to see contending monetary standards. They debilitate their imposing business model to make cash and control the monetary framework and the economy.In reality, the reason China is the primary huge government to make such move isn't a mischance. China more than some other nation needs to have firm control of its managing an account framework, and distribute credit as indicated by a political plan. This implies a contending money like the Bitcoin would debilitate its political framework.
govermentChinese can not to impose taxes on Bitcoin, so they seek ways to prevent their people from using Bitcoin.
Any government can indirectly impose tax on crypto in its entirety, so that's not a problem at all. China's main problem is how madly paranoid they are when it comes to capital outflow. It has been like that for years now, and the only thing crypto did was making China's paranoia worse. Instead of somewhat controlling the situation, crypto wiped all their prior efforts off the table, and formed more of a potential threat in that aspect than ever before. That's why it actually surprised me that China didn't take any actions against crypto years ago already. It's either them at that point having believed that crypto wouldn't last, or they thought it was a manageable threat. Whatever turns out to be the case, their actions against crypto in current days speak for themselves. I however believe that their sanctions aren't final, but just an attempt to buy time in order to come up with proper regulations....
I guess they are against bitcoin because they have their own cryptocurrency called Neo.
hah)If you powerful person or country and you see the thing which you can't to control, you just trying to ban it)
I think if it was possible China afraid of the country’s digantikanoleh bitcoin.
Try not to use google translate next time.
All governments are concerned with the rise of cryptocurrencies. The main difference is most of them are democratic and allow the people to decide. Take Korea for instance. When the rumors about a ban came to light Koreans started to sign petitions demanding the minister to resign from office. In China the power of the government is absolute, these people are organizing events where they're publically sentencing people to death, and the crowd is cheering. It's like in ancient Rome!
That's why they aren't playing around asking people for their opiniions. When they want to ban something they just do it.
you mention something.
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?
Because they want to pirate(copy) Btc and make their own style(crypto). We all know china like copying things and pretend that it is their own idea like what they did with Apple Technology Company.
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.
maybe China want to make their own virtual money, It is not impossible that China wants to create its own cryptocurrency that can be the legality of the government. So far, many things are banned in China, ultimately they make themselves. Used illegal transactions,Bitcoin transactions are difficult to trace.it is used by irresponsible parties for money laundering, drug sales, smuggling, and other illegal activities.
I see there are many altcoin from China. Maybe their government wants all Chinese people to use their coins instead of using bitcoins
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?
govermentChinese can not to impose taxes on Bitcoin, so they seek ways to prevent their people from using Bitcoin. I think so
Maybe they are not as we think. They deliberately do so to push the bitcoin price down and then buy themselves bitcoin and wait until the bitcoin rise. The Chinese are very scary
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. 
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?
As in my own thinking china government,is not allergic to bitcoin,instead they like it much,and the prove it that most of chinese peoole is being a bitcoin miners.the only things they prevented the foreign ICO investment that penetrate to make a project into there country,because as far as i know they want to develope there own ICO currency,for there own country men,thats why they must tightened there security,that foreign ICO not penetrate to operate into there country.
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.
I think they felt that their fellow citizens have lost too much on these ICO's and trading so they prohibits the use bitcoin as well. I don't blame them because we know that millions and millions are stolen from their people before because it is not regulated.
I think it would be misleading to ascertain that the Chinese Government is allergic to BTC or the cryptocurrency industry, as China is China because they are known to exploit such opportunities to make profit and do good business when they see something that is new and something that could either be considered legal or illegal (depends on regulation for that particular place), knowing they have a huge population and in an age of advanced technological advancement wherein their internet is usually used for business of e-commerce and one can also consider that the BTC or the entire cryptocurrency domain has many features that can brand it as a form of e-commerce. Thus, this is just a matter of publicity, outside China itself, because if one would try and search for news inside China and how the BTC was a year ago, they actually like it, in fact take a look at this https://www.express.co.uk/finance/city/902104/bitcoin-price-Ripple-ethereum-cryptocurrency-China-Bloomberg. So I think they are not totally allergic to BTC and the technology behind it, they want to control it and regulate it.
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