Why China is always bad news for bitcoin? - page 6.

gabbie2010

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Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

Yes China has a very large population and are major investors I.e holders in cryptocurrencies whatever action taken by their government will have a drastic impact on the price of Cryptos recall when Chinese government started clamping down exchanges in the middle of 2017 the price of bitcoin dropped thereafter recovered, as it is now China government going after miners will compound scaling issues of bitcoin invariably more problems ahead.

Ikay

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They want to control the bitcoin by their self and have the taxes all of the exchange site in there country and obviosly they cant do it easily so the thing they do is to banned it and manipulate the bitcoin to their country thats why they banned it because to the thing they want but they cannot get it.

Abigale123

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Because the government can not control BTC, so of course can not accept him, so there will be no good news

matthewogus01

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Governments do not want to see competing currencies. They threaten their monopoly to create money and control the financial system and the economy. Actually, the reason China is the first big government to take such action isn’t an accident. China more than any other country wants to have firm control of its banking system, and allocate credit according to a political agenda. This means that a competing currency like the Bitcoin would threaten its political system. The People’s Bank of China halted operations for digital currency trading platforms over concerns that the unregulated markets could pose major financial risks. Without the backing of a central bank asset and institutional support, it is not clear how a private digital currency at the centre of a large-scale payment system would behave, or whether the payment system would be able to function.

levvv

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I think the government of china doesnt want their peoples get more weatlh from bitcoin.
Not only from bitcoin, also from other altcoins too.
The cryptocurrency can bring profit and wealth for us.

masterchief001

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Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

China is also a country with a strong economic development. And this country has a lot of merchants involved in bitcoin. But there is always bad news about bitcoin. But the bitcoin ban has reduced the price of bitcoin in the past. Affect the bitcoin of the world.

Fundalini

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China has always been strict with internet censorship and bitcoin--which runs in the internet-- is not an exception. Perhaps they see the pseudo-anonimity of it as a threat to people's security or even to its own economy. There's a possibility that these news were just a ploy to control the market but imo, this is a genuine effort of their government to cope to the increasing demand for cryptos.

Danglen1010

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In my own opinion, China have their own standards, own manipulation on their currency so they do have bad news for bitcoin. But anyway, there are still countries who accepts bitcoin. Don't just focus on one thing. It should be something big for this big currency.

cryptolerant

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Quote from: TheGodFather on January 24, 2018, 01:34:56 AM

Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

I think china began to acknowledge that there was indeed power and money from cryptocurrency and they wanted to have a facade that they hate it that they did by banning bitcoin and other cryptocurrency in china. However I believe that they have found something or into something and that they would unleash it once its perfected and it would be rivalling that of bitcoin

I believe all the news that coming from China is just to manipulate the market. I see different news from China all the time, not all of them negative tough. Some is supporting the bitcoin. I kind of believe that they are just increasing their positing by manipulating market with those news.

copoyes

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I think it's some kind of strategy
where if it has reached the target to make a news
with over a reason for example banned in its place
so the price goes down
and if the price drops in buy again
continue to make new news again
to rise again and reach the desired target
well I think like that

mindfly09

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Quote from: lunaalthea on January 21, 2018, 03:22:21 AM

Call it bias or not, it is a fact that China is a communist country. Their government want to control everything, facebook and google is not even allowed in that country, and now bitcoin and other cryptocurrencies as well. They only want things that came from them, and things they can control. They want things that will give them benefit. Bitcoin, miners and crypto industry is a threat to them. Let us hope for our brothers there to remain safe and anonymous while engaging in trading and mining.

I agree with you, because this is the reason why their government that was they want control the people, especially related to the money they don't want give a chance to earn, because bitcoin will make people to become rich. Maybe if they allowed bitcoin in their country they could not control anything. Or they think bitcoin is a threatening on their country, because theirs a lot of problem facing on their own country.

aray80

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Their government wants to control everything, media social is not even allowed in the country, and now also contains bitcoins and other cryptocurrencies. They just want things that come from them, and things they can control. They want things that will give them an advantage. Bitcoin, miners and the crypto industry are a threat to them...

Games.Bitcoin

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Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

It confuses me, because they strive to better their economy, and crypto would do just that... They also invested so much money into BTC... It's unfair how much they can manipulate.

Rappyboy

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Because they are so big of a country that every move they take could lead either positive or negative side of the market.

buhchain

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Because the Chinese government still does not accept bitcoin, it still prohibits bitcoin. Maybe they are afraid they can not control the development of the bitcoin market.

criz2fer

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Quote from: metenjean on January 24, 2018, 01:45:09 AM

China became a superpower country nowadays not by being stupid, they know cryptocurrency can help them gain profits but they also know that they cant control and centralized its assets as more wealhty chinese people started using it to avoid tax, so the first step was to ban bitcoins and other cryptocurrency. That strategy works a bit when bitcoin prices starts to falling in september 2017 if i'm not mistaken, by banning it and lower the price, who can tell if the chinese didnt buy it for themselves at that time. Grin

For my point of view, I think there will be something big will happen this first quarter of this year. Like last quarter of 2017, China ban exchangers which provide a deep over the market and skyrockets to by the end of the month of November to $19.9k in the market. With these bad news, manipulation really present in the market which make the softhand withdraw and big investors of bitcoin will enter again which makes the market pump. If you will try to check the marketcap from the daily basis, almost $80 billion dollars increase in the marketcap before China announces a good new from adoptation of credit market by the China Banking Regulatory Commission (CBRC).

jacquueline

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This country is like shit.
They have banned twitter and facebook, which is banned in this country, which they banned means there is a lot of potential and needs to be watched.

usechain

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Quote from: lunaalthea on January 21, 2018, 03:22:21 AM

Call it bias or not, it is a fact that China is a communist country. Their government want to control everything, facebook and google is not even allowed in that country, and now bitcoin and other cryptocurrencies as well. They only want things that came from them, and things they can control. They want things that will give them benefit. Bitcoin, miners and crypto industry is a threat to them. Let us hope for our brothers there to remain safe and anonymous while engaging in trading and mining.

Actually, I do not agree with your answer. Now that bitcoin is threatening that country's sovereignty, it is really a fuss. The government is guarding that the current bitter bitcoin is jumping off the floor after its natural collapse, so let it cool down first. I think this time the Chinese government is a rare enlightened person. Ten years ago, the Chinese government indiscriminately cut off the government of the entire game console market and industry in China (which is still a real economy). Instead, the fiery bitcoin is actually not a one-size-fits-all Clarify its status (virtual goods), surgery-like adjustments.

nianshaoqingkuang

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Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

Because bitcoin only makes a small portion of the money rich, and most people are just cannon fodder, the government does not want many people to be able to use cannon fodder

Nunoluck

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Quote from: cybersofts on January 21, 2018, 02:49:56 AM

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

Although China banning ICO but Chinese people can participating in ICO anytime they want. The effect is not for long term , there are other countries that start to embrace cryptocurrency and blockchain technology. I think everything is fine.

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