Topic: why China goverment allergic to bitcoin? - page 7. (Read 718 times)
Back in September last year, the Chinese government announced that it is imposing its restrictions and prohibitions because it considers bitcoin a threat to its economy due to the fact that the crypto currency does not know the borders of states and considerable amounts of capital can be uncontrolled from the country. The government was frightened by the uncontrolled outflow of capital. In addition, bitcoin contributed to various risks, including the growth of crime, money laundering and others. How to solve these problems, they do not seem to have come up until now.
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?
First of all bitcoin is decentralized which means chinese government cant manipulate it, their citizen who is involved in bitcoin are hard to trace likewise demand them for taxes. The money that the government would collect from its citizen will be huge and can help their economy to be much more greater than other first world country. I think this is why chinese government are against bitcoin.
China is a country that holds the largest share of the world's stock market. If that's true, investors will be afraid of losing their funds.
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 of the nature of Bitcoin, which led to his lack of compliance with China's national conditions, China has a lot of gray industries, a large number of officials who are corrupt, money laundering and too much underground work. The access to Bitcoin will exacerbate these activities
The reason for china to ban bitcoin is very much, but here I can only mention only one, the Chinese government is very unhappy about something that can not be arranged, for example is bitcoin, bitcoin is a currency that no one set it and bitcoin it indeed can not be arranged, either from the side of price, supply and so on.
China is not alone,
some countries think that bitcoin can be used as negative things like money laundering, terorism, etc
some countries think that bitcoin can be used as negative things like money laundering, terorism, etc
The technology of bitcoin is worth supporting, but the appearance of bitcoin is not under the control of governments.
They think they can not control bitcoin or cryptocurrencies. And too many people use bitcoin for illegal transactions, which is not recognized by governments.
They think they can not control bitcoin or cryptocurrencies. And too many people use bitcoin for illegal transactions, which is not recognized by governments.
that happened because china know the potential of bitcoin and they want to use that potential to make more profit for his country, but as we now right know there are no way to take tax from bitcoin user and control the flow of money of bitcoin.
and there is a rumor china want to make an own versoin of cryptocurrency to rival bitcoin. so maybe that other reason why china allergic to bitcoin.
and there is a rumor china want to make an own versoin of cryptocurrency to rival bitcoin. so maybe that other reason why china allergic to 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 think china is not open with bitcoin because of bitcoin's nature as being decentralized, people in china has limited rights over their own finances, because china is a non-democratic country, they could not let their people to generate huge income on their own, because the very nature of having bitcoin is having the power over your own money and we should remember, bitcoin holders are anonymous which contradicts the essence of a communist country, it is against their law we all have to accept it and respect it. but if chinese are residing outside china, i think that is an exemption, almost every country has a chinatown, for sure many of them are into bitcoin and millionaires because of 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?
As we all know that China is a communist country and they would like to control people all the way and by allowing people to fully use bitcoin which provides financial freedom and pseudo anonymous transactions,it would go totally against their interests.
Hmm aside from protecting their own people in scams , I think the main reason is "control". They do not want a currency which they cant control and will harm their economy and revenue in the future. Bitcoin is decentralized and China government has no control over it.
Most Chinese people invested in Bitcoin.More from Bitcoin to them. When Bitcoin gets more profits, Taxes are caused by the government when it is local money.Bitcoin is spread around the world.Bitcoin trading takesplace worldwide. Bitcoin investors invested by doing bitcoin. So loose they country companies and Overseas companies invested in chinna. Hear by their own economy Decreases.All companies productions affect exited in China. so china government allergic to 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?
As we all know that China is a communist country and they would like to control people all the way and by allowing people to fully use bitcoin which provides financial freedom and pseudo anonymous transactions,it would go totally against their interests. 
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 are the biggest mining community of bitcoin have an big effect to bitcoin community because china goverment decide to banned bitcoin and cryptocurrency the main reason is cryptocurrency use of the terrorist for the illegal activity.
way back 2014 china government support the world conspirnacy will unite against bitcoin its because bitcoin doesn't reality as decentralized cryptocurrency. now january 2018 bitcoin or initial coin offering and any related connection in crpyto totaly banned.
China is one of the business country in the world they have many investor. the reason that's why we don't agree or accept the bitcoin because of the unstable price ration of bitcoin that gives them a high transaction fee when they have to invest on something or buy something.
The way the china communicates to others having transaction they always pick the cheaper transaction.
The way the china communicates to others having transaction they always pick the cheaper transaction.
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 we all know that China is a communist country and they would like to control people all the way and by allowing people to fully use bitcoin which provides financial freedom and pseudo anonymous transactions,it would go totally against their interests. 
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.
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
Most definitely they want to control world's economy, and they are a real power house in that but bitcoin is somehow affecting them. This is what I feel.
The current closed economic system of China limits the possibilities of innovation. Chinese companies are good at copying the ideas of others, but in general they are not great inventors (except for the latest advances in solar technology and payments). Closed planned economies do not encourage open innovations, it is impossible to give the order to invent through the state dictatorship. The survival of the Communist Party depends on the relentless, continuing economic growth, on the one hand, and control over information, money flows and ideas, on the other. But you can not reach the first, if you do not have the latter. Ultimately, China will not be able to compete with bitcoin and its successors, as they provoke the emergence of a decentralized, censorship-resistant exchange system that helps create a global, self-renewing pool of unique innovations.
Not only China government are against bitcoin but almost all government because in bitcoin, they cannot find a way to get peoples tax. Another thing is the new kind of money or cryptocurrency is so transparent that they cannot hide if they use it for corruption. Bitcoin cannot be recreate or reprint like fiat money so it means they will have a hard time getting a fund in case they need it.
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