Topic: why China goverment allergic to bitcoin? - page 4. (Read 718 times)
It is true that China is a country that counts in any field, because China is a country that is heading for power with great, With so many people investing in Bitcoin where the government can not receive income taxes and transactions are anonymous, the government is only allergic to the decentralized monetary system . but china always sings the price in the bitcoin market which always causes stuck. and sales panic.
The Chinese government is not allergic to bitcoin prohibited by the Chinese government is ico, but I read through this forum yesterday that the Chinese government is back again using bitcoin.
Chine does not like bitcoin but not the idea of ctrypto currencies as we all know this country likes to have control over things in the market and surely they wanst to establish regulation with regards to cryptos and since bitcoin is decentralized they cannot control it and the only thing they can do is to banned bitcoin exchanges and create their own cryptos that they can control. This is how I see China's government so I will not be surprise if one day they will introduce their own crypto currencies
The Chinese government like to have control over things in the market but the case of bitcoin banned there was different and the only reason why they hate bitcoin was because they see bitcoin as a threat to there national currency and bank sector due to their young and adult using bitcoin more than their national currency which literally leads to their current devalue.
china is the world's number one hijacking nation, china is always trying to make a duplicate in any field. see in indrustri electronics, china adopt asia market with very low value. as with bitcoin, china wants to try to make crypto in order to get many benefits. but it can not be done, that's why china strongly forbids bitcoin. telling what I read and my analysis
we know that china is one of the biggest crypto trade, but also china is the worst in using bitcoin and kripo they want to control crypto world, duplicate and also control the market.
i think china wont be the only country reacting allergic to the cryptro world, most of those countries staying calm because it would give bitcoin & co the last push they need to bring the cash down i think. 
Perhaps the roots of this problem go far back in history. All Asian countries were ruled by emperors. They valued the unity of command. The ruling party of China is acting in accordance with its strategy in 100 years. Bitcoin is freedom. Free people hard to manage. I think this is the main reason.
I think China doesn't have a need to use bitcoins. Since China is a economic dreadnaught, integrating bitcoins to their monetary system will only bring confusion to its citizens. My guess is if you don't have a need for bitcoins, why allow it to operate in the country?
Another guess I'm thinking of is that bitcoins are MAYBE hurting the Chinese economy. But I don't see the reason why bitcoins would ever hurt China's powerful economy.
Another guess I'm thinking of is that bitcoins are MAYBE hurting the Chinese economy. But I don't see the reason why bitcoins would ever hurt China's powerful economy.
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 revolution.what is the main reason for that?
I have to clear one thing here,it is true they have the worlds second largest economy but still China is not a developed country,it is a developing country and there is a big gap between the wealthy class and the middle class,it is not that they do not like the revolution ,they want everything transparent and from a country who hands out death penalty for corruption you have to think that they takes these things seriously.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.
Well, you aware about the google translate. You are so good.
I think i get your point that china is absolute power of government. But dont you realize why china hate bitcoin?
I think its because china can not control bitcoin. China want to make bitcoin become centralize but they could not. Thats maybe the main reason why they ban bitcoin.
but they still don't like bitcoin revolution.what is the main reason for that?
Exactly for that: revolution.Bitcoin has the potential to unsettle existing flow of money.
If used widely to things could happen: you could folow the money to corrupt individuals. This could hurt important members of the political party.
The second thing: if for some reason, the price of bitcoin drops like a rock, the savings of many chinese people are lost, and this will create unrest.
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. China already 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.
Because some "bitcoin digging" Company was born, and these companies have consumed too much electricity in China. the Chinese government does not have a strict tax policy on bitcoins. China is introducing tough policies for the domestic bitcoin market. Many Chinese banks have locked down virtual accounts of investors.
what do you mean by bitcoin digging? are you talking about mining? if yes then i think mining is not even illegal to china rather they only ban those ico's and exchanges related to it, however bitcoin in their country is fully legal as well as mining and they can always pay those electric bills if it was on the company as they are also earning an income thru it. overall china is indeed a verry strict country therfor it is Pretty normal to see that they could ban those activity related to crypto if their government wants.
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?
Mass adoption of Bitcoin implies several changes in the lives of some very powerfull men and it will imply a lot of changes. These changes will happen, but it takes time.
Because some "bitcoin digging" Company was born, and these companies have consumed too much electricity in China. the Chinese government does not have a strict tax policy on bitcoins. China is introducing tough policies for the domestic bitcoin market. Many Chinese banks have locked down virtual accounts of investors.
China is the top highest population country in the world. So i think they are developed new crypto currency in there county. Maybe thats reson china banned 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?
I have to clear one thing here,it is true they have the worlds second largest economy but still China is not a developed country,it is a developing country and there is a big gap between the wealthy class and the middle class,it is not that they do not like the bitcoin revolution ,they want everything transparent and from a country who hands out death penalty for corruption you have to think that they takes these things seriously.
In the eyes of the chinese government the way how people in China use bitcoin harms the chinse economy.
From a technological point of view, there really seems to be no way to infiltrate or harm bitcoin. Otherwise the government in China would have managed to do so.
Most people don't esteem that fact, although it is really a very positive realization.
So China intervenes where it is possible for them: the exchanges and the miners.
From a technological point of view, there really seems to be no way to infiltrate or harm bitcoin. Otherwise the government in China would have managed to do so.
Most people don't esteem that fact, although it is really a very positive realization.
So China intervenes where it is possible for them: the exchanges and the miners.
I think China with a population of billion people, the government will lose also billion amount of money from evading taxes because of Bitcoin anonymity. The government has no power to control cryptocurrency and the risk of using bitcoin and other virtual currencies to criminal activities like money laundering or illegal drug
no , governments dont loose money at all and it does not illegal either because bitcoin in the first place is just only a digital curreny and not a real currency. tax will only applicable if your a regular employee or a business man that has a big salary wage or above minimum.
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The government has no power to control cryptocurrency and the risk of using bitcoin and other virtual currencies to criminal activities like money laundering or illegal drug
government has also a power to control cryptos because most of the countries are now are actually legalizing the use of it. illegal activites can also occur in a real currency and not just in bitcoin or other cryptos.
I think China with a population of billion people, the government will lose also billion amount of money from evading taxes because of Bitcoin anonymity. The government has no complete power to control cryptocurrency and the risk of using bitcoin and other virtual currencies to criminal activities like money laundering or illegal drug
The reason why the Chinese government is allergic to bitcoin is because the bitcoin trade in China is out of control,because the value of bitcoin in china is big so the Chinese government is allergic in bitcoin
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