I think Chinese people are too backward.
They can't take things too far.
So they think bitcoin is a scam.
Topic: why China goverment allergic to bitcoin? - page 5. (Read 718 times)
That reason why the Chinese government is allergic to bitcoin is because the bitcoin trade in China is out of control, so the Chinese government is starting to worry about money laundering through bitcoin and the amount of cheating that goes on in China using bitcoin continues to rise. Making it a big problem that makes the Chinese government ban 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?
They are allergic because they cannot totally regulate it. All government are also have a hard time to get tax with bitcoin. You can only get a tax if you convert it in fiat.
as you say its a big country with many people and if your not a noob in math you can imagine how much money they loose
in all terms.
next point i think is the decentralisation they dont like and not that easy to trace like money.
in all terms.
next point i think is the decentralisation they dont like and not that easy to trace like money.
They are not, they just want the control of many things. Well they do it transparently at least and not like some of the fancy countries.
America banned some exchanges and other stuff. That is a control too.
America banned some exchanges and other stuff. That is a control too.
Probably because their government is not getting any benefits from bitcoin whales. And they can't tax these people who earn bitcoin. So I think their move is just to ban it. But even though the Chinese government bans it, there are still people who mine it and find a way to escape.
China banned ICOs and now it appears to be clamping down on Chinese miners, they have consumed “huge amounts of resources and stoked speculation of ‘virtual currencies.”
It's not that they don't like bitcoin. They are just trying to protect their people from bogus ICO's scamming them of their money. When your people is losing money, it's the Government's job to protect them. Although, they may be taking this too far. A simple warning would have been fine.
Some say a relative of the Government prohibits the existence of bitcoin because their paper currency does not want to be replaced by cyptocurrency, sometimes I think is true about what the relatives say so that triggers allergies to not have it but the facts say other people there really want bitcoin because it has breadth in transactions and has become viral in this world.
Chinese people are very conservative in their thinking.
They don't approve of the new technology.
Think it's a hoax.
So it's not friendly to bitcoin.
They don't approve of the new technology.
Think it's a hoax.
So it's not friendly to bitcoin.
In September,China nixed initial coin offerings, with China going a step further and announcing the eventual closure of domestic cryptocurrency exchanges. Increased regulation could either help bitcoin.
Because bitcoin is out of control, China is a populous country that would otherwise have been hard-pressed to control by economic markets. Therefore, it is normal for a country to enter into a new business that can not be controlled.
I agree that China tries to control economic markets. China wants to conduct international trade according to its rules. But the main desire is to end the financial, political and economic hegemony of the United States. Beijing seeks to pull over the blanket of world leadership. That`s why China doesn`t like Bitcoin but likes blockchain. The Chinese authorities see Blokchain`s technology as potentially useful, reducing the role of intermediaries in promoting their interests, especially in trade.
I first of all think about the number of people in the country. the more people in country, the more difficult it is to monitor activities in the field of mining and trade in crypto currency. now I think they will completely close everything, but then they will give out something like the unique rights to conduct business with crypto-currencies
In addition, it's obvious to remember the political situation and the form of state administration. If the government introduces taxation in the field of crypto trading, it is likely that many professional traders will respond and agree with such conditions.
I first of all think about the number of people in the country. the more people in country, the more difficult it is to monitor activities in the field of mining and trade in crypto currency. now I think they will completely close everything, but then they will give out something like the unique rights to conduct business with crypto-currencies
The main problem is that the country has a very serious problem of corruption . They can't control bitcoin, so they can only ban it. Because bitcoin allows a lot of foreign exchange, the rich can move their assets abroad at will, leaving the stupid country, and China's leaders will not let that happen.
Because china wants everything under their control, theyre a communist country, 
since bitcoin doesnt have tax or they are nothing to pay in their transaction
since bitcoin doesnt have tax or they are nothing to pay in their transaction 
Because bitcoin is out of control, China is a populous country that would otherwise have been hard-pressed to control by economic markets. Therefore, it is normal for a country to enter into a new business that can not be controlled.
China big country with communist ideology, I agree with your opinion China should control all policies.They always show the power to conquer anything, the prestige of China has existed since ancient times.
There are a lot of news abot China and Bitcoin. Expecially a bad news (the ban of mine etc)
May be someone wants to purchase cheaper
Everything is possible
May be someone wants to purchase cheaper
Everything is possible
I wouldn't say they're allergic to Bitcoin I would say they're power struggling with things such a Bitcoin where the power goes to the people and things are decentralized. We're going to see how it all unfolds but I feel like China will get their tax from their citizens cashing out on Bitcoin for sure.
I guess it is a strategic way of China to earn more profits in bitcoin. I know that China is a communist government and everything implemented by the government will follow by their citizen. The point here is that, the Chinese government control their people and if they will ban bitcoin for sure, the price of it will suddenly fall and they will buy bitcoin again. In short, they will buy it in a low price then sell it in a high price. Banning of it will make them as a control of the price in bitcoin.
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