Topic: Why does China hate Bitcoin? - page 20. (Read 8833 times)
We all know that the Chinese government is worried if the use of bitcoin continues to increase so that it can threaten the legal currency that is Yuan. besides, china would want to be able to fully control whatever the people do including what is used bitcoin.
We all know that china is a communist country having lots of regulations and restrictions.it always wants to keep its people under its strict control.Bitcoin is a currency which has been created to give financial freedom to people.Just we could understand that both are contrast.China does not want to loose its control over its people,either due to bitcoin or other.It does not want its country's wealth to be transacted via bitcoin outside its boundary and get invested in other countries.Also,it does not want its own currency yuan losing its value due to bitcoin.So,it has started to take severe actions against bitcoin.
I agree, chinese government likes to control their citizen's lifes and to have control over maximum sectors as possible. Bitcoin represents exactly the opposite of chinese government and that is a threat for them if used as it was planned on its essence. So what they try to do is to subvert the nature of Bitcoin to make it more agreeable to their rules and who knows, take some advantage over it and over their people as individuals.
I think the Chinese government banned the sale of btc
Bitcoin Edition
The cause is about the Bitcoin of the product. "Currency code restricts currency coding according to the type of code that is controversial." Professor Yang determined, the way "new system coding is created, current algorithm can also do and the play of the code has been increased."
Add this, the keyboard about the real estate of Bitcoin. According to the professor, the lack of money for "minimum standards" is due to "no platform based industry can accurately assess the source and provide Bitcoin as well as intrinsic value." " He added: "Many investors tend to be blind and may take time."
Other, Professor Yang said that Cryptocurrency is not "affected by inflation and price differences as well as many other problems.
Bitcoin Edition
The cause is about the Bitcoin of the product. "Currency code restricts currency coding according to the type of code that is controversial." Professor Yang determined, the way "new system coding is created, current algorithm can also do and the play of the code has been increased."
Add this, the keyboard about the real estate of Bitcoin. According to the professor, the lack of money for "minimum standards" is due to "no platform based industry can accurately assess the source and provide Bitcoin as well as intrinsic value." " He added: "Many investors tend to be blind and may take time."
Other, Professor Yang said that Cryptocurrency is not "affected by inflation and price differences as well as many other problems.
In my opinion, China does not hate Bitcoin, it knows that Bitcoin is important, and because China loves Bitcoin so much, it is constantly trying to reduce Bitcoin prices by spreading negative news, and Bitcoin buys more Bitcoin when prices fall. China wants to manage Bitcoin in this way.
We all know that china is a communist country having lots of regulations and restrictions.it always wants to keep its people under its strict control.Bitcoin is a currency which has been created to give financial freedom to people.Just we could understand that both are contrast.China does not want to loose its control over its people,either due to bitcoin or other.It does not want its country's wealth to be transacted via bitcoin outside its boundary and get invested in other countries.Also,it does not want its own currency yuan losing its value due to bitcoin.So,it has started to take severe actions against bitcoin.
I agree, chinese government likes to control their citizen's lifes and to have control over maximum sectors as possible. Bitcoin represents exactly the opposite of chinese government and that is a threat for them if used as it was planned on its essence. So what they try to do is to subvert the nature of Bitcoin to make it more agreeable to their rules and who knows, take some advantage over it and over their people as individuals.
I think the Chinese government doesn't hate bitcoin. It is the central bank of China that has directed that bitcoin should be banned. Like other banks they don't trust bitcoin enough and they think that it is just another scam that will take their people's money.
it seems to me that this question rests on the ubiquitous control of its citizens. do not forget that the usual Internet for citizens, is protected by the "wall"
I think youhave a point, my soecukation about it is China wants its people to work for the government so they can have taxes for improving theyre countryand given the fact that its China they were the center of negotiation they want to preserve not only the title but also the status of each family. I have red some reply that bitcoin in China were banned because their goverment wants that every source of their is traceable, and in bitcoin it has the anonymity feature in which you dont have to personally introduce yourself here to gain.
As per the fact China does not hate bitcoin , the thing is that as bitcoin is untraceable so the people of china do money laundering through bitcoins so they want to track every bitcoin so that they could get to know about the tax defaulters and others who are misusing this cryptocurrency.
China hates bitcoin probably because China don't want to lose competitiveness with bitcoin. In my country there are some chinese people are successful in opening a business. But I don't like Chinese people. Because, goods are sold by him mostly not durable. I'm sure even though bitcoin is hated by chinese, bitcoin will remain popular. Because we live in this world many countries, not just china.
I don't think China hates bitcoin, if they do they should've totally considered it as illegal but
rather what they did was the regulated the use of bitcoin and avoid it from leaving their country.
What they're doing is trying to hoard the coin and when the price goes high they can dominate it's market and gain more.
China hates bitcoin probably because China don't want to lose competitiveness with bitcoin. In my country there are some chinese people are successful in opening a business. But I don't like Chinese people. Because, goods are sold by him mostly not durable. I'm sure even though bitcoin is hated by chinese, bitcoin will remain popular. Because we live in this world many countries, not just china.
Any tax dependant economy would most likely hate bitcoin or any other crypto because of the annonymous nature of transactions which makes it almmst impossible to tax such transactions.
I agree with you maybe the tax absorption for bitcoin in china has not been too big and the anonymous transaction being the reason of the fear of being misused by the person 
This is pretty much the whole story right here...
Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
For China, I can say so they do not like if they are driven into their state policy, they really do a lot for people and regulate many laws. That's why there is order, and then a dark man came who wants to change their views, as you think they would like, I think not. Quote
" NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” "
Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
A lot of governments are hating bitcoin and cryptocurrencies right now, because they are making rich a lot of people, and they are stopping using banks only to use cryptocurrencies.
And this is not only about China, a lot of countries are going to be worried about bitcoins and all the cryptos.
but it seems like china is quiet right now, because i haven't seen any update from them.
oh you're right And this is not only about China, a lot of countries are going to be worried about bitcoins and all the cryptos.
but it seems like china is quiet right now, because i haven't seen any update from them.
maybe bitcoins should be official? and banks would be okay after that
And If governments the world over – more importantly the big economies – continue to be restrictive to the use of cryptos, what effects would that have on the industry in future?
When the price of oil was beginning to get out of hand and almost a threat to normal life, money starting going into alternative enegry and today, a barrel of oil is going for less than $50. When people want something desperately, they usually have it because number is strength. Bitcoin has got a very strong community, any country that dares to take them for granted, does so to their own peril.
China wants regulations. They want control.
China loves bitcoin but hates alts my friend.
Alts are a direct threat to btc.
China loves bitcoin but hates alts my friend.
Alts are a direct threat to btc.
I dont think that China government hates bitcoin, they didnt forbid it or anyway, they just regulated the ICO and stuff.
There was even plans to make their own cryptocurrency, so im sure that bitcoin will live long in china!
There was even plans to make their own cryptocurrency, so im sure that bitcoin will live long in china!
Yeah they're looking for ways to keep crypto in check and controlles which is obviously against bitcoin's very nature. Though in fairness to china, some points on security that they've raised is well valid like it being used for illegal transactions and terroristic activities. I think it's inevutable that regulations will be implemented
This is pretty much the whole story right here...
Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
Quote
" NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” "
Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
it is because why china hate bitcoin maybe They're simply afraid of it. Did you know 40% of Bitcoin investors were chinese? Chinese government doesn't want yens to be replaced by Bitcoins.
I dont think that China government hates bitcoin, they didnt forbid it or anyway, they just regulated the ICO and stuff.
There was even plans to make their own cryptocurrency, so im sure that bitcoin will live long in china!
There was even plans to make their own cryptocurrency, so im sure that bitcoin will live long in china!
This is pretty much the whole story right here...
Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
Quote
" NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” "
Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
for me maybe why china hate bitcoin it is because Chinese are really business minded people. Cryptocurrencies bypasses tax in products which means lesser profit for them. Another thing is that online stores are ran by different foreign group; if their citizen choose to buy online than in their local stores, that means more money will be going out than coming in to their country.
since when are we focusing all our attentions to one country in the whole world?
and since when did we centralize bitcoin to only one country and stood around watching what they say or do to decide the fate of the decentralized and global currency that people created and control?
... oh right, since the bitcoin rally stopped and we wanted a drop to make profit and buy back cheaper coins!!!
and since when did we centralize bitcoin to only one country and stood around watching what they say or do to decide the fate of the decentralized and global currency that people created and control?
... oh right, since the bitcoin rally stopped and we wanted a drop to make profit and buy back cheaper coins!!!
I don't think that they hate it but they want something even more. i think They want to ban bitcoin and create their own coin that could surpass btc.
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