Topic: Why does China hate Bitcoin? - page 21. (Read 8833 times)
The Chinese government first announced that the Crypto-currency is a threat to its economy, as money is being sent out of the country uncontrollably through the crypto currency. Therefore, it began to look for ways to resolve this issue, and before the final decision was suspended or banned activities related to the crypto currency. It tried to centralize the crypto currency, but it seems that he did not succeed.
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.
Maybe because government of different countries have no capacity to control the increasing price of bitcoin. Moreover because of bitcoin income of corrupt leaders of each country were lessen, due to non taxable income of each people in bitcoin.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.
Otherwise large volume of people are already joined in bitcoin so it means high numbers of people who earn high amount of profit were not given tax to the government of respective country.
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?
I believe too much freedom is bad and for a large country such as China control is important and the only way to keep its people within their rules and regulations as people could easily go astray. And I dont think they hate bitcoin probably just trying to avoid been the driver of this technology.
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.
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.
It's not that they hate it but they see it as a threat of their people using it and not paying taxes, China absolutely wants their cut if money is coming and go from anywhere.
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 think china is not really hate bitcoin they just really want to gain first something before bitcoin takes place in china they know that china is a super power and it would bring huge profits to their country so they want to regulate it first before bitcoin takes place to their market
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.
I don't believed that China hate bitcoin, how is that happen since China is one of the biggest average percentage of bitcoin mining farm in the whole world. It's only a FUD with non-sense topic. In fact, its really ridiculous when I heard that.
China do not hate bitcoin, the Chinese government is the one who hate bitcoin because their government are very authoritarian. Bitcoin allows china to avoid taxes, avoid confiscation of their wealth that’s why chinese government are not to fan of bitcoin.
China do not hate bitcoin, the Chinese government is the one who hate bitcoin because their government are very authoritarian. Bitcoin allows china to avoid taxes, avoid confiscation of their wealth that’s why chinese government are not to fan of bitcoin.
I dont think China hates bitcoins. looking at it at a larger perspective, bitcoin has been used by some people illegally, for example money laundering. Illegal activities that are monetary in nature can now be untraceable through bitcoin, that is the main reason why china hates bitcoin.
"Hate" is exaggerated. Bitcoin wasn't in their ''Divine Plan'' so they had to do it
Agreed. Bitcoin goes against their plan to control the economy and reduce personal liberty. The Chinese want to place everyone under government surveillance, and the anonymity of Bitcoin makes it really hard for the government to track the transactions of the users. And that is exactly the reason why the Chinese government is trying to ban the BTC.
This is why the people will look to bitcoin if its legal or not. the government of china has effectively advertised to its people that bitcoin is a threat and so it will be illegal. which means more people know about it than ever in china due to it being national news where as if they left it not so many people would of known.
Because they fear if all people people of china starting using bitcoin, in this condition Chinese Renminbi currency popularity will decrease. they want to take control over everything. This is why they already banned whatsapp,facebook, twitter, gmail,youtube, pinterest , pornhub etc.
I agree with you . They ban all media and use We Chat only, which is not good because they are trying to forbid everything outside and put false information about the market to make investors confusion
Because they fear if all people people of china starting using bitcoin, in this condition Chinese Renminbi currency popularity will decrease. they want to take control over everything. This is why they already banned whatsapp,facebook, twitter, gmail,youtube, pinterest , pornhub etc.
"Hate" is exaggerated. Bitcoin wasn't in their ''Divine Plan'' so they had to do it
Agreed. Bitcoin goes against their plan to control the economy and reduce personal liberty. The Chinese want to place everyone under government surveillance, and the anonymity of Bitcoin makes it really hard for the government to track the transactions of the users. And that is exactly the reason why the Chinese government is trying to ban the BTC.
"Hate" is exaggerated. Bitcoin wasn't in their ''Divine Plan'' so they had to do it
As in the above quote, hate is something an exaggeration. China always support bitcoin as well other digital currencies. If hatred is found on China, surely now a big negative impact could have been felt upon the bitcoin community in terms of growth as well diversified usage accessibility. 
"Hate" is exaggerated. Bitcoin wasn't in their ''Divine Plan'' so they had to do it
china does not hate bitcoin, they just make the bitcoin price decrease and they will invest in bitcoin. so they will benefit greatly if bitcoin prices increase
China hates bitcoin, but chinese people like it
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