Only the Chinese government don't like Bitcoin. However, the Chinese people who are into the cryptocurrency world, they don't hate it, they love Bitcoin. In fact more than half of the people who are into cryptos are Chinese. Even the miners, most of them are Chinese. They make the best Mining equipment in the world, such Bitmain.
Those Chinese exchanges closed by the Government are going to re-open their exchanges but outside China so that the Chinese government cannot shut it down like it did days ago.
Topic: Why does China hate Bitcoin? - page 26. (Read 8833 times)
china does not hate bitcoin. but bitcoin has become a threat to the country of china. yes that's the case, china is the biggest producer in asia about pirated goods. duplicate brands. and china wants to make its own crypto. that's what I think.
but not everything about China is true, we need to be more familiar with what China really wants,
whether about shifting their currency or they want to make their own currency cryptocurrency or the other
All the products that produces in China which are not perfect are only prepare by the people who have not job but have compulsation of having any type of job to make daily earnings .
Here the condition is also same , due to big population in china , people moving toward the cryptocurrency and thats why the big part ot cryptocurrency depends upon the china , but here government is going to take some action which is not in favour of the bitcoiners of china as well for us also because of the the down in the market of bitcoin .
china does not hate bitcoin. but bitcoin has become a threat to the country of china. yes that's the case, china is the biggest producer in asia about pirated goods. duplicate brands. and china wants to make its own crypto. that's what I think.
but not everything about China is true, we need to be more familiar with what China really wants,
whether about shifting their currency or they want to make their own currency cryptocurrency or the other
china does not hate bitcoin. but bitcoin has become a threat to the country of china. yes that's the case, china is the biggest producer in asia about pirated goods. duplicate brands. and china wants to make its own crypto. that's what I think.
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.
1) China wants to dominate the global economy with its own currency, and competitors do not need it.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.
2) Centralization is the key principle of Chinese power, monetary strategy and everything else. Bitcoin is a free market and decentralization in its pure form.
It is for these reasons that China is doing its utmost to keep 100% control over its own currency. In particular, at the moment China artificially understates the value of the yuan to increase its export competitiveness.
China isn't hating Bitcoin. They have shut down the exchanges because they are bringing their own cryptocurrency. Then people can directly convert their fiat to buy government's cryptocurrency and in turn can buy other coins through it. This way they'll keep a check on in going and out going of money which was tough to analyze earlier with exchanges. They aren't banning Bitcoin but playing safely.
I agree with you . China is trying to control this market to prevent money laundering because if this happens it will undoubtedly cause huge damage to the cryptoucurrency market as China is trying to create its own market.I think by banning bitcoins China is doing no good to itself and no damage to bitcoins. If they think they can destroy the bitcoins and come up with their own crypto currency, this is their mistake. By baning the bitcoins they are just being left behind the digital currency world. The Chinese should think in this way too.
it is ok. let they quit from this market. Hi God please give us Japan and take back China . thank you verymuch God!
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 bitcoin is a real threat for their economy. we all know that there are a lot of businesses in china that are fraudlent that helps their economy. with bitcoin it might be prevented.
no,China doesn't hate bitcoin.i think they have some problem with ico.it's a risky market.and china govt is trying to stop money laundering. because from it peoples gets benifits but government and bank don't get that.
I don't think China hate bitcoin as there are so many miners out there in the China. But there is a love-hate relationship of China's central bank with the digital currency like bitcoins. As i read on a news regarding on the China's central bank, the author stated that People’s Bank of China (PBOC) which is the China's central bank has been pouring money to study the blockchain technology. This shows that they are aware of the benefits of the bitcoins and how it could affect the future. While for the hate, it is obviously the central bank doesn't like bitcoin because it affect their business as bitcoin is developed to overcome the issues of the making transaction using bank eg bank transaction fees are high and expensive.
China believes that it’s a superpower and if it makes a strong move ,other countries might follow them, I don’t know more about it. China can do anything, but the question is, will it do it? Common bitcoin is not that weak to be striked again and again, something else is coming other than china and I don’t know what, but something big is coming!
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.
Yes I think that statement sums it all. China is not really against bitcoin, but they really like to control things, specially money, so if they can't control bitcoin, then they will fight back with all they can. I all favor for regulation, as I think it's important to fight crime and prevent the population to be scammed, but China sometimes goes way to far on that task. I think Japan is doing a far better work on that matter.
I think China probably wants to discipline children or teens involved in dealing and generating illegal income means in their own beliefs and culture. However, I think if the ICO would still propagate the world then it would reliably return soon to their homeland.
what is the state of china disadvantaged by the presence of bitcoin? I think not because in my country even happy with the existence of bitcoin which makes economic growth increased.
I believe China doesn't hate bitcoin. China might hate the fact that it's untraceable, and with the problems that rised with the ICO's where many investors were scammed, and lost money, they couldn't do anything to retrieve that. It's a risky market, some will opt out of it, some will just act that they will opt out, and others will continue following bitcoin!
I agree the fact that botcoin cant be trace easily investors who get scammed cant recover that they lose in the ICO. Yes bitcoin was a risky market because you are not sure if it would going to be successful or not. But i think only china did this. Because they are negotiable people which always think about earning money. That was their characteristic that I observed to chinese people.
I think the government of China doesn't hate Bitcoin. They're simply afraid it might ruin their financial system considering that Bitcoin and ICO are becoming popular in China. And so, since they cannot control bitcoin because it's digital and uncontrollable they banned it.
China isn't hating Bitcoin. They have shut down the exchanges because they are bringing their own cryptocurrency. Then people can directly convert their fiat to buy government's cryptocurrency and in turn can but other coins through it. This way they'll keep a check on in going and out going of money which was tough to analyze earlier with exchanges. They aren't banning Bitcoin but playing safely.
I agree with you . China is trying to control this market to prevent money laundering because if this happens it will undoubtedly cause huge damage to the cryptoucurrency market as China is trying to create its own market.I think by banning bitcoins China is doing no good to itself and no damage to bitcoins. If they think they can destroy the bitcoins and come up with their own crypto currency, this is their mistake. By baning the bitcoins they are just being left behind the digital currency world. The Chinese should think in this way too.
I believe that China is hating bitcoins because the Chinese government love to control everything happening in their county and bitcoin is the only thing that they can't control, so they are trying to stop its usage in their country. The reputation of bitcoin is so tarnished that I once was telling my friend about bitcoin and he said that ya i know about bitcoin, it is the currency that is used to buy drugs online, maybe the mentality of the people towards bitcoin can also be the reason behind this.
I do not know exactly what and why China hates bitcoin in the country?
make no mistake that bitcoin can be used by anyone including chinese.
make no mistake that bitcoin can be used by anyone including chinese.
China wants to create their own crypto!
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