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. 
Topic: Why does China hate Bitcoin? - page 27. (Read 8882 times)
at the end of the day china doesn't hate Bitcoin they just want to stop the Rampage of tax loopholes and money laundering that it enables.
it so happens that it's far more profitable to mine Bitcoins and run exchanges in Asian countries, sold them have chosen to regulate it and accept it as a valid currency like Japan and others like China have taken a more proactive approach and attempted to stop its use in many different ways.
it's obvious at this point that they are not against Bitcoin but rather they just want to regulate and control it which is obviously against the very point and nature of Bitcoin so inevitably they'll make their own version and insist that you use it if you're in China.
it so happens that it's far more profitable to mine Bitcoins and run exchanges in Asian countries, sold them have chosen to regulate it and accept it as a valid currency like Japan and others like China have taken a more proactive approach and attempted to stop its use in many different ways.
it's obvious at this point that they are not against Bitcoin but rather they just want to regulate and control it which is obviously against the very point and nature of Bitcoin so inevitably they'll make their own version and insist that you use it if you're in China.
In my opinion China isn't hate Bitcoin, the only thing they banned in their country is ICO projects cause there are a lot of new ICO projects everyday and not all of them are good, some out of it is scam that why China government banned ICO projects just to protect investors in their country. Beside as I know China government has earned a lot of money every year from Bitcoin mining factories in their country so there are no reason for them to hate Bitcoin 
I personally don't think that china hates or bans bitcoin because if they going to ban bitcoin as a whole, they already ban the bitcoin many years ago and i think that banning bitcoin exchanges and ICOs is for their citizen safety why? Because too many scam ICOs and it is hard to tell which is the legit or not.
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.
I think that China banned bitcoin in their country because it may become as treat to their governement economy because as of now their is a lot of people that have been using bitcoin in their daily lives. And also they dont want their people to have a power to keep their money. 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 just because bitcoin took over the people. Not only Chinese people but all people that has access to it all over the world. Well another reason is because of that they wanted to create a "new" bitcoin for their community. I think this October they will release that coin.
China hates bitcoin because they don't want their people to be free.
Chinese government tend to control everything the country while bitcoin is uncontrollable!
So, how you expect the survival of bitcoin in China before? I knew this was going to happened.
China only allows what they make to circulate in their country, I see no way they might leave bitcoin in that country for long.
Chinese government tend to control everything the country while bitcoin is uncontrollable!
So, how you expect the survival of bitcoin in China before? I knew this was going to happened.
China only allows what they make to circulate in their country, I see no way they might leave bitcoin in that country for long.
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.
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.
Because they are acting in a logical manor? It has nothing to do with love or hate.
Is China going to allow tax evasion and capitol flight?
Is China going to act legally when they see scams like ICOs?
Is a totalitarian communist regime going to want to control the money?
Where is the surprise here?
Is China going to allow tax evasion and capitol flight?
Is China going to act legally when they see scams like ICOs?
Is a totalitarian communist regime going to want to control the money?
Where is the surprise here?
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.
In my opinion only i think china targeting the bitcoin becuase bitcoin is ownership of america so thats why they want to falldown the bitcoin and the america get mad to china this is the start of world war 3 but i how did not happen becuase many ordinary people like me die without hopeless. 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.
China has been trying to stop money laundering for decades.
The Chinese people launder billions of dollars every year to Australia, Canada, U.S. and Europe every year to buy real estate. This is aided and abetted by these Western governments, when they offer resident visas to those Chinese who bring over $X. Consequently, Australia and Canada have the largest housing bubbles in the world.
Cracking down on ICOs is just another way of clamping down on this money laundering...which Western governments urge on.
The Chinese people launder billions of dollars every year to Australia, Canada, U.S. and Europe every year to buy real estate. This is aided and abetted by these Western governments, when they offer resident visas to those Chinese who bring over $X. Consequently, Australia and Canada have the largest housing bubbles in the world.
Cracking down on ICOs is just another way of clamping down on this money laundering...which Western governments urge on.
China not only wants to track wealth, but they want their wealthy to reinvest in Chinese businesses. They are limited by the government as to how much they can invest overseas. It was discovered last year that wealthy Chinese citizens were using bitcoin to get their Yuan out of the country, and make more overseas investments than were allowed. I guess the writing was on the wall at that point. Here is a story on it from earlier this year.
http://www.theaustralian.com.au/business/markets/chinese-investors-use-bitcoin-to-get-yuan-out-of-country/news-story/7cd6f89ae7cd84aef91078326b6274cc
http://www.theaustralian.com.au/business/markets/chinese-investors-use-bitcoin-to-get-yuan-out-of-country/news-story/7cd6f89ae7cd84aef91078326b6274cc
I think chinese people like bitcoin a lot, but their government fear about capital flight.
They want to keep the control of the capital flow.
That sounds right, many Chinese people buying bitcoin back then, and now many of them struggling because of the strict regulation which happen to be released by the local government.They want to keep the control of the capital flow.
some people said that many of them who owns big amunt of bitcoin migrating to other country, I think it's a wise move to avoid the regulation and punishment.
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
I think chinese people like bitcoin a lot, but their government fear about capital flight.
They want to keep the control of the capital flow.
They want to keep the control of the capital flow.
China hates Bitcoin because they cannot control it! So they try and ban it now which will only make them lose out in the end. Oh well, it's their loss and they will have to catch up.
It's all about maintaining the internal scheme they have set up and seeking to maintain it. They need to keep the money within the country and if they let it flow out then they won't be able to keep their countrymen poor and working in the factories to make cheap goods for the rest of the world.Losing out on Bitcoin in the short term might not even really be a loss for them, if they were to actually ban it instead of just putting a leash on ICOs. That's something that people are really overlooking.
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.
China hates bitcoin because they wanted all the profit to go to their goverment they do not want their country man to get rich in investing in bitcoin they do want to control the holdings of each person living 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.
It is really quite simple why they do hate bitcoin. Bitcoin is decentralized and takes control away from the government. Same with any government, especially China who wants to retain a tight grasp over the economy and how people transact with each other.
Therefore, they want to regulate it to the point that it becomes unfeasible for anyone to use bitcoin. Shut down exchanges, ban ICOs, etc.
But, p2p trading will always exist. Bitcoin will live, even if china hates it and decides to ban it completely. People will still run bitcoin software, and the network will live on.
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.
All countries have problems with money laundering and not with bitcoin. That's why China banned ICOs in the first place because of the reason that China's investors play a major role in crypto currency investment. Afraid of new money laundering cases being created every day, China took this regulatory steps. The more scams occur every day, the more countries will start taking action against crypto currency. 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.
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