Why does China hate Bitcoin? - page 29.

Sahabat_

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Quote from: Sweetbtc on September 23, 2017, 04:18:29 AM

I think china believe that bitcoins are use for money laundering. So to protect the dignity they ban bitcoins. There should be an other reason for banned.i think they want to stop local exchanges. It was a big business in china and i wonder why they are taking such steps. Huh

China may have reasons that other nations should not know for a reason.
and now we can only accept that China forbids the existence of Bitcoin, but I am still optimistic that bitcoin will continue to grow even if China forbids it

Sweetbtc

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I think china believe that bitcoins are use for money laundering. So to protect the dignity they ban bitcoins. There should be an other reason for banned.i think they want to stop local exchanges. It was a big business in china and i wonder why they are taking such steps. Huh

GreenBits

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Pretty sure China really doesnt have a beef with bitcoin. they have allowed the majority of bitcoin mining equipment to operate without really saying anything. retrospectively, i think this is more about capital ouftflows, and trying to get better control over the lack of proper aml/kyc and registration at exchanges. Im not talking the customers; im more talking the fact that alot of these coins and tokens dont actually pass the Howey test, or at least completely. to list these is to essentially list an unregulated security, which doesnt usually fly anywhere in the civilized world. also im pretty sure organized crime is seizing the opportunity these price levels provide to launder money, this should do a lot to prevent that as well.

ruskytailz02

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we cannot blame CHINA because I think they want to secure their country especially in money laundering
its like protection for those people who doing this

I think they want to ensure all of investors who became victims of scams

kevindjunaidi

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china does not hate bitcoin, but china sees the bitcoin's success and its many devotees, so china wants to make its own coin to compete with bitcoin. that's why china blocks bitcoin Grin

jets567

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They don't hate it, They are trying to manipulate the price hoping they can have a shopping spree. They want to be whales trying to do FUD to the Cryptos. But the fact is bitcoin can soar the market without them, No one's stopping the flight of BTC and that's the fact.

Snaic

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Now China is introducing tough measures against bitcoin and other crypto-currencies. This is a good way to see if a separate, large country by territory and population, the recent leader in bitcoin mining, can cope with the crypto currency and prohibit or severely restrict its circulation on its territory. We will have a good experience. It is already clear that a single country will not be able to significantly affect the crypto currency, and the experiment that is currently conducted by China is quite interesting from the point of view of the vitality of the crypto currency. If you look at this issue more broadly, it is that the individual country can actively resist the circulation of the crypto currency and what will come of it. After all, Chinese citizens will also look for ways to bypass government bans and restrictions. For fans of crypto currency, this will be a good experience. So, let's look at the example of China who wins who

ethereumhunter

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Quote from: Sahabat_ on September 22, 2017, 10:12:47 PM

Quote from: Bacotan Bae on September 22, 2017, 10:01:50 PM

Quote from: rifatfor on September 22, 2017, 09:01:40 PM

I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity.

I do not think china hate cryptocurrency can be a real money threat. we all know that cryptocurrency is decentralized, of course the Chinese government hopes that they can take full control.

I think the Chinese government does not hate cryptocurrency but they have a reason to ban it.
perhaps they are concerned with the abuse of cryptocurrency as the frequent misuse of ICO scam.
which then resulted in disadvantage to the investors and also the other party.

and i think maybe they are afraid when one or several ico scamming their people because the ico is not always guarantee to the investor can make profit in the end. i think the government can make some regulation to control the ico so the ico can not scamming people although the possibility is always there. with the biggest mining company, i am not sure that chinese government will continue their plan to ban bitcoin and the ico. but i am curious with what happen later and i hope the other country will not affected.

Sahabat_

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Quote from: Bacotan Bae on September 22, 2017, 10:01:50 PM

Quote from: rifatfor on September 22, 2017, 09:01:40 PM

I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity.

I do not think china hate cryptocurrency can be a real money threat. we all know that cryptocurrency is decentralized, of course the Chinese government hopes that they can take full control.

I think the Chinese government does not hate cryptocurrency but they have a reason to ban it.
perhaps they are concerned with the abuse of cryptocurrency as the frequent misuse of ICO scam.
which then resulted in disadvantage to the investors and also the other party.

Bacotan Bae

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Quote from: rifatfor on September 22, 2017, 09:01:40 PM

I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity.

I do not think china hate cryptocurrency can be a real money threat. we all know that cryptocurrency is decentralized, of course the Chinese government hopes that they can take full control.

Lorilikes

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They hate it ? I thought they were just fearful of it because it is almighty and looms ominously over their riches like a threat. They are trying to figure how to control it or at least monitor the in and out of capital flow, before they will accept it.

Might be a while.

cjinny

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because bitcoin has an anonymous, decentralized nature. Bitcoin is also hated by China because bitcoin can not be regulated by any country. Chinese hates bitcoin because the corruptors there launder their money using bitcoin.

herdiansyahdanang

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Quote from: robbietobby on September 22, 2017, 09:43:07 PM

I think China most probably wanted to discipline children or teenager which involves in transacting and generating income that termed "illegal" in their own belief and culture. Yet, I think if ICO will still propagate the world then its reliable to be back soon in their own homeland.

just a reason if they want to discipline children and teenager that's not the right if they hate bitcoin money for the future,
if all countries have started using bitcoin technology and how are they taught not to use bitcoin? yes they will become disciplined losers

DoublerHunter

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China hate bitcoin because it is starting to revolutionize the country and a lot of people are getting into bitcoin and they realized that bitcoin is getting better and better everyday and that is why they make a move to stop that and regulate bitcoin and that is by banning some exchanges and shutting them down to slow the process of getting stronger of bitcoin.

robbietobby

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I think China most probably wanted to discipline children or teenager which involves in transacting and generating income that termed "illegal" in their own belief and culture. Yet, I think if ICO will still propagate the world then its reliable to be back soon in their own homeland.

ramsdaj28

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اللعنة

Quote from: RawDog on September 21, 2017, 04:47:08 AM

This is pretty much the whole story right here...

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.

Because bitcoin is tax-free (except mining fee). The government can not get taxes from bitcoin users. I think that is the reason why they hate btc. Another thing is that China is known as one of the biggest player in economy and business in the world. Maybe, they are planning to create their own cryptocurrency/token and want to compete bitcoin.

majdoso

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China is an industrial country. Bitcoin will attract lot of people who can make the same income with less effort. It will have bad consequences on their economy that's why they baned bitcoin.

master2#

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Its is a really good sign when china hate something

inoes

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those who hate bitcoin are those who do not know what exactly bitcoin is
and certainly they have not tried using bitcoin Cheesy

china hate bitcoin , bitcoin just smile

rifatfor

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I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity.

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