Topic: Why does China hate Bitcoin? - page 8. (Read 8832 times)
I does not hates, but it became dangerous for the state economics, the price of local currency was decreased, infrastructure could not afford so many mining farms, so they made some restrictions in order to protect the country economics, that's it.
To a large extent because bitcoin is decentralized and uncontrolled, and China is a populous country in the world, the economic system of its own country is hard to control. Therefore, before the steady development of bitcoin, China believes it will not accept 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.
China hated bitcoin to the extent that they even banned bitcoin in their country. As far as I know, bitcoin is decentralized,that means the government has no power or no ability to control it, I think that is why they banned it. The Cental bank of China has no power in regulating the cryptocurrency so before it became widespread in China, they banned it so that crypto currencies will not over power the banks. The only thing to stop bitcoin in their country is by banning them, my opinion only. 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.
My take on this is that China doesn't hate Bitcoin per se', we just need to remember China is a communist country therefore they just don't allow something that they cannot control especially if its a big thing that may affect their economy and financial lives of their people.
China hates Bitcoin because it is a competitor to all the gold reserves they have stored up. This is where their wealth is stored and they're mad because it's going to have to go into BTC eventually but are trying to stop that.
China wants to be in control of everything. When they failed to regulate the Bitcoin transactions, they though banning it might help.
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.
china don't dislike bitcoin.It's more of a matter of regulating it to prevent something bad from happening. 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.
Bcos china have other coin which issued by.themselce.
China's decision to clamp down on cryptocurrency exchanges earlier this year. Because bitcoin is a threat to financial stability of there economy. However, China is still one of the world’s biggest sources of cryptocurrency mining.
Why China should hate bitcoin? When China can just make huge profit on it. I think China don't hate it, but they (group of chinese with big money) would manipulate with it through their big capital.
The chinese government hates bitcoin because citizens can use it to get around their capital controls. This combined with the amount of government debt they have accumulated now, they cant afford capital outflows
Why China should hate bitcoin? When China can just make huge profit on it. I think China don't hate it, but they (group of chinese with big money) would manipulate with it through their big capital.
Maybe they think bitcoin can make the economy in their country down so they ban and hate bitcoin or they do not want bitcoin to dominate the global market
Bitcoin grows very fast, everyone is interested in putting money in bitcoin because it can proift up to thousands of percent per year. china is the strongest economic power today, the presence of bitcoin is feared disturbing the rate of china that will make people divert investments into bitcoin and leave china.
all of countries love BTC: if transaction and peopole tackable 2- take fees for transaction 3- be in their control
I think that is related to the trade issue. China has tested and released its own electronic money. However, the paradox is that their electronic money has not had the influence and the practical importance and not much difference compared to other electronic coins. Therefore, they are always concerned and careful with the influence of bitcoin. I think this is the reason the Chinese government is cautious and has measures to limit the impact of bitcoin.
well it is actually about their belief, philosophy, that they dont like things that they cannot unify, or in easy term control. they dont want anything that will destroy their belief.
Bitcoin is could be trace an in light of the fact that we have this exchange history, including where we send the cash and others, yet the thing here we don't know who is the proprietor of a specific bitcoin address, that is the reason bitcoin is unknown. Any digital currency is traceable in the blockchain, so I don't know why this Chinese Government restricted the ICO's or crowdfunding, we don't have a clue about that is their genuine purpose for this issue, yet what is critical is bitcoin is as yet living and it is proceeding to transcend the ground.However, because due to the increase scammed accusation from neighboring countries that is might push China to its decision.
The government of China condones the use of bitcoin I think is because of this reason. They think that the use itself will not benefit their economy's growth and that they think that the growing population of chinese people that are investing in bitcoin might someday make their own national currency obsolete.
I don't think the word "hate" is not the right term to use for what China feels about bitcoin. Maybe they are just threatened on what bitcoin might bring to the economy. We all know that China is very competitive in terms of economic activities.
Another reason is that,as one of the biggest economy in Asia, they are making some research on creating another cryptocurrency system so bitcoin won't threat them . they don't want to be overpowered.
guys come on, open your eyes. What makes you really think that China hates bitcoin. They love it man. They love it more than anything. They are playing with news just to speculate the market, that's all.
China government doesn't hate cryptocurrencies, they just want to stop speculations, manipulations and money laundering. No matter what we say, bitcoin is a perfect tool for money laundering, I hope it won't be known as "dirty business money" in future.
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!
Perhaps, one the main reason why china is not in favor of bitcoin is because of their economic system. The government of china hates individual operations, almost all their market industry is run by the state. So how would they ever allow a decentralized monetarial system. There are also speculations that China will create their own cryptocurrency. Jump to: