Topic: Why does China hate Bitcoin? - page 35. (Read 8844 times)
I believe the Chinese government is trying to find a way to stop their citizens on money laundering from trading of bitcoins, I believe there might be a small group of wealthy Chinese citizens who are trying to evade paying taxes to the Chinese government and they are using bitcoins to send money overseas, that is one of the main reason for China to enforce tighter laws and regulations on bitcoin.
The chinese government or central bank is not CHINA.The people of China love bitcoin and cryptocurrencies.
Why it`s so important for the authorities in China to track all transactions?Taxation,money laundering or something else?Total control over the financial system is almost impossible.
Why it`s so important for the authorities in China to track all transactions?Taxation,money laundering or something else?Total control over the financial system is almost impossible.
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"
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 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!
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.
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