Why has China declared war on bitcoin and digital currencies?

ConquerGold

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Quote from: darkangel11 on January 26, 2018, 12:36:08 PM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

They have closed down the exchanges some time ago, but it's not set in stone. What I mean by that is, there's a reason for the ban and it's not "the good of the people" or a similar slogan. They are doing it to make all crypto businesses file for a government issued license and that will require them to pay a certain fee. The license will also make sure only certain people are allowed to run an exchange and this will of course be members of the ruling party or their family members.
IMO by this time next year they will announce the plan to tax and regulate exchanges.

True that. Since cryptos like bitcoin is decentralized, what they want to happen is for it to have regulations and be able to tax this type of trade. What's ironic is they don't regulate massive mining farms there as well as stop the manufacturing of mining devices there, like they want to make the most money out of the whole industry Roll Eyes

Oceat

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Quote from: Oliveir on June 14, 2018, 07:55:27 AM

That was an issue before since, but as of today hundreds of ICO project is built and created by Chinese and the main investor and funds source is from China itsellf and many Chinese has many Bitcoin no during the dips, I think as of today they are going friendly with cryptocurrency.

That issue was last year December and probably Chinese government are making some regulations to make it legal again that's why they were accepting the initial coin offering again. And Chinese government had nothing to do with this Bitcoin dips because from the other sources made news that it was from the hack attack from the Korean Exchange Hack.

Oliveir

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That was an issue before since, but as of today hundreds of ICO project is built and created by Chinese and the main investor and funds source is from China itsellf and many Chinese has many Bitcoin no during the dips, I think as of today they are going friendly with cryptocurrency.

Bros_3

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China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges.

Two of the largest cryptocurrency exchanges in China, OKCoin and Huobi, issued statements on Friday night saying they would shutdown all trading between bitcoin and the yuan by October 31. A day earlier, BTC China, a Shanghai-based cryptocurrency exchange, said it would stop trading as of September 30.

The cease of operations of the three biggest cryptocurrency exchanges, along with at least 20 other smaller exchanges in China, shows a centralised effort from Beijing to curb or even eradicate cryptocurrencies on the mainland. The government’s decision pushed bitcoin prices below US$3,000 briefly before they rebounded over 20 per cent.

warrior333

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Quote from: Faeton on June 09, 2018, 01:43:19 AM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

The Chinese government is not yet going to declare war on the Crypto-currency. It is looking for its own way of its implementation, restriction and regulation. This is evidenced precisely by the hesitant and contradictory actions of this government when introducing such prohibitions and restrictions. It is trying to protect its economy from the possible negative impact of the crypto currency, and since September of last year it has clearly stated that it considers the crypto currency to be a threat to its economy, since the crypto currency allows uncontrolled withdrawal of its funds from the country. The ban on mining bitcoin means fighting for economical consumption of electricity. At the same time, there was information that in China they are going to resolve the ICO process, but under the control of the government. This will just be a positive moment, as it will protect the rights of investors.

ICO is under government control. LOL. Tell me one successful example of something that's run by the state. Any regulator pursues its goals and they are often aimed at overcoming resistance to the laws of the market. That's why I don't believe in government projects. I think that other investors will also think.

Faeton

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

The Chinese government is not yet going to declare war on the Crypto-currency. It is looking for its own way of its implementation, restriction and regulation. This is evidenced precisely by the hesitant and contradictory actions of this government when introducing such prohibitions and restrictions. It is trying to protect its economy from the possible negative impact of the crypto currency, and since September of last year it has clearly stated that it considers the crypto currency to be a threat to its economy, since the crypto currency allows uncontrolled withdrawal of its funds from the country. The ban on mining bitcoin means fighting for economical consumption of electricity. At the same time, there was information that in China they are going to resolve the ICO process, but under the control of the government. This will just be a positive moment, as it will protect the rights of investors.

bitcad4u

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Quote from: lynttrs on June 07, 2018, 06:58:08 AM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

Bitcoin has already caught the attention of the Chinese government with many of its people getting interested with it. But they are not totally against cryptocurrency. There are just making some regulations on it. They're just trying to manage it. They are still studying it. They also see the potential of bitcoin.

But I don't think so.China government officially announced,to inverse their people in Gold and Silver instead of cryptocurrency investments.If they have a idea to regulate the cryptocurrency,why don't they asked their people to inverse in cryptocurrency.They want to improve t government treasurer by the investments from their people.

lynttrs

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

Bitcoin has already caught the attention of the Chinese government with many of its people getting interested with it. But they are not totally against cryptocurrency. There are just making some regulations on it. They're just trying to manage it. They are still studying it. They also see the potential of bitcoin.

BitHodler

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Quote from: Aikidoka on June 05, 2018, 06:28:29 AM

Instead of relying on banks, people prefer relying on the blockchain. And that is what I would choose actually.

Banks could also adapt to how the blockchain is gaining popularity. Would you accept using a bank if they completely rely on the blockchain instead of their own legacy infrastructure?

Banks will never allow you to enjoy the perks of an immutable ledger, so you will be dealing with a ledger which grants them the freedom to reverse and even remove transactions completely if they so wish.

Banks technically don't even need to use the blockchain. They can just set up a similar construction where they have a copy of every bit of data stored in plenty of different locations simultaneously.

Mukarram Tariq

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Beijing’s assault on bitcoin has surprised observers. Photo: Reuters
ECONOMY
Why has China declared war on bitcoin and digital currencies?
Ban on initial coin offerings and the closure of exchanges kick off Beijing’s offensive

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges.

Two of the largest cryptocurrency exchanges in China, OKCoin and Huobi, issued statements on Friday night saying they would shutdown all trading between bitcoin and the yuan by October 31. A day earlier, BTC China, a Shanghai-based cryptocurrency exchange, said it would stop trading as of September 30.

The cease of operations of the three biggest cryptocurrency exchanges, along with at least 20 other smaller exchanges in China, shows a centralised effort from Beijing to curb or even eradicate cryptocurrencies on the mainland. The government’s decision pushed bitcoin prices below US$3,000 briefly before they rebounded over 20 per cent.

Aikidoka

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Sinbad Mixer: Mix Your BTC Quickly

Maybe they want to create their own coin and have people invest in it. So if they already are using Bitcoin in which it will gain popularity across the country, their new coin will not be as valuable as bitcoin. On the other hand, maybe because bitcoin is threat to banks.

Instead of relying on banks, people prefer relying on the blockchain. And that is what I would choose actually. Also, China is overpopulated, so the more people use Btc, bigger the threat arises.

Sandeep24

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I think China wants to control world economy with their own currency but near future Bitcoin will be accepted by China legally.

vessing

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The main reason for excluding such a scenario is that the current closed economic system in China limits the possibilities for innovation. Chinese companies are good at copying the ideas of others, but in general they are not great inventors (except for the latest advances in solar technology and payments).
Closed planned economies do not encourage open innovations, it is impossible to give the order to invent through the state dictatorship.

Name: Claudio

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First they try to ban digital currency because in first I think they were also afraid on its sudden growth and some business in China will be affected by this decentralized thing that people can earn without paying tax and without working outside their house and I believe if almost of the people in China will be working in home mining and making trading, so I think they put a little barrier for the people to be on their usual self and work.
No offense but their is possible like this, imagine how many people already left their work and decided just to be at home and do bitcoin?

SectorZero

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Quote from: avikz on February 26, 2018, 05:27:23 AM

Quote from: jseverson on February 26, 2018, 03:16:11 AM

Quote from: MisterPrada on February 26, 2018, 02:43:18 AM

They have already "banned" bitcoin like 10 times past 4 years without success. This is nothing new, they ban everything that is great about the internet.

They have never banned Bitcoin outright. This seems to be a common misconception. They have banned ICOs, exchanges, P2P exchanges (that served as a loophole for the initial ban), and they're currently sitting the fence on mining. Holding and trading are still fair game, but who knows how long that will last.

Either way, China is no longer the giant it once was in trading volume, and the remaining traders have already learned how to sidestep regulations. An outright ban at this point shouldn't be too crippling in the short term, FUD aside.

Right you are! China has never banned bitcoin outright. Because that can't be possible for them. So they have taken a phased approach. First they banned ICOs because that was a channel of dirty money flowing in to their economy. I have seen a lot of Chinese scammers active in the ICO market prior to China ban so it was a good news for the entire crypto community.

Now China is trying to ban the mining operations because a communist country doesn't believe in people empowerment by sidetracking them. They follow heavily centralized policies. Crypto is one way that can't be properly tracked and taxed because of its pseudo anonymous nature. So the Chinese government are not getting the proper revenue from these crypto related market. So they are trying to curb it down.

But China is not anymore the superpower of crypto market. If China ban all crypto related activities outright, the market will react for a short span. But I don't think any big impact will be seen for China's exit. Also the Chinese government knows that it is impossible to control the entire crypto market in China. So those who want to use it, they will continue using it. Absolute ban can't be achieved practically.

Yes, the market will not suffer much from the ban of bitcoin in China. But everyone knows that the news from China only to speculate. I think in the near future and this speculator
crypto market will win. This and the Chinese government itself already understands, we are waiting for positive decisions from them.

KorakPawon

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Quote from: darkangel11 on January 26, 2018, 12:36:08 PM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

They have closed down the exchanges some time ago, but it's not set in stone. What I mean by that is, there's a reason for the ban and it's not "the good of the people" or a similar slogan. They are doing it to make all crypto businesses file for a government issued license and that will require them to pay a certain fee. The license will also make sure only certain people are allowed to run an exchange and this will of course be members of the ruling party or their family members.
IMO by this time next year they will announce the plan to tax and regulate exchanges.

actually this issue has long been discussed China is often open the lid How the use of Bitcoin in their country for various reasons one of the most important thing is the Central Bank of China has banned local companies to conduct transactions related to the virtual money. The ban orders follow fears of a sell-off that could bring Bitcoin's value down to 60 billion dollars from the total since the cryptocurrency transaction reached its highest point.

QuickS22

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It's their right, but seriously do they do it? As far as I know, most of the bitcoins belong to the Chinese and they make good money on it.

FUD Expert

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China is still leading the way in making new ICOs and exchanges so this war that they are trying to wage are futile up to this point. Their just waiting for a good timing to get back at it again.

Tigorss

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they make their own digital money and close access to other digital currencies into their country who wish their own coins that they make can grow like bitcoins and others.

Anees1122

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I think the china government wants to control every transaction that the citizens make
It is definitely that there are major problems in the economy of China

Sandeep24

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China government wants overall control on Chinese crunncy but digital currency lile Bitcoin is most popular in China as well as in the world that's way China is fearing from digital currency.

Mhd-Bobbi

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what makes the Chinese state fund raising. there is the same with Indonesia. whether they are not pushing this bitcoin to develop. I do not understand from other countries forbid bitcoin to flourish. I really want the currency cryptocurrency used as a means of payment. and can be used from other means.

KorakPawon

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China is the most active market for bitcoin trading on exchange exchanges. But lately the Chinese government plans to block domestic access to home and overseas platforms that allow for centralized trading. There is no definite clarity only China plans to make their own digital currency.

Vektrum

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

China has never declared war on a crypto currency. They pursue the interests of their country, although they may also make a number of mistakes. They are looking, as always, their own way of using crypto currency. If the government does not find other solutions to this issue, China will return to the world of decentralized crypto currency. So far we see that such opportunities still exist.

Tigorss

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In due time, all companies in China simply can not serve Bitcoin transactions. There will be sanctions for those who violate, although the current sampat form of punishment is still not ascertained. They think bitcoin is very dangerous.

[email protected]

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China has declared war on cryptocurrency, only because it is impossible to control the outflow of capital from the country through cryptocurrencies, thereby causing economic imbalance of the foreign exchange market.

imsotiredofmoviereboots

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It's their right, but seriously do they do it? As far as I know, most of the bitcoins belong to the Chinese and they make good money on it.

That's true. Their government might just be concern knowing that a lot of their people's money are just wasted on scams so they became strict towards it. But it's very obvious that China really do want to get into bitcoin after all.

Kemarit

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Quote from: richardsNY on May 02, 2018, 12:52:47 PM

Quote from: Oasisman on April 30, 2018, 01:35:41 PM

Chinese government is one of the countries that has a very strict policy, and its not that they dont understand the idea behind Bitcoin, but their government were being threatend that they cannot control over their people financialy.

If you properly regulate the centralized ecosystem, you as government can obtain as much control over people as you want. China however is too paranoid to even take that in consideration, and just want to make sure capital doesn't leave the country. I think it's safe to say that this is one of the main reasons they aren't happy with all the crypto developments. In most cases people wire funds to an exchange with foreign bank accounts, and that alone is something they at all cost want to prevent. It's not really a surprise at the end of the day -- their prior actions were indicative enough to not be surprised about everything that happened recently.

Yes, we can say that they are really paranoid because they are afraid on something they can't even control in the first place. Just imagine how much money flowing in and out without them at the middle, damn, the government will really be pissed off with that. And the solution of them? Make a U-turn and declare war on crypto. The good news though is that crypto survived the scare and we did continue to survived without them in the equation. As far as the effect on the Chinese crypto community? I don't know but I think it didn't deter them from engaging underground just to continue with crypto trading.

tambok

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Quote from: richardsNY on May 02, 2018, 12:52:47 PM

Quote from: Oasisman on April 30, 2018, 01:35:41 PM

Chinese government is one of the countries that has a very strict policy, and its not that they dont understand the idea behind Bitcoin, but their government were being threatend that they cannot control over their people financialy.

If you properly regulate the centralized ecosystem, you as government can obtain as much control over people as you want. China however is too paranoid to even take that in consideration, and just want to make sure capital doesn't leave the country. I think it's safe to say that this is one of the main reasons they aren't happy with all the crypto developments. In most cases people wire funds to an exchange with foreign bank accounts, and that alone is something they at all cost want to prevent. It's not really a surprise at the end of the day -- their prior actions were indicative enough to not be surprised about everything that happened recently.

There is a leakage with what China wants to do right now, and we don't know the real behind it, but I felt that there was a deeper reason why they declared it, and why they banned bitcoin and some crypto but they have created their own, isn't obvious that they want to rule crypto too.

richardsNY

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Quote from: Oasisman on April 30, 2018, 01:35:41 PM

Chinese government is one of the countries that has a very strict policy, and its not that they dont understand the idea behind Bitcoin, but their government were being threatend that they cannot control over their people financialy.

If you properly regulate the centralized ecosystem, you as government can obtain as much control over people as you want. China however is too paranoid to even take that in consideration, and just want to make sure capital doesn't leave the country. I think it's safe to say that this is one of the main reasons they aren't happy with all the crypto developments. In most cases people wire funds to an exchange with foreign bank accounts, and that alone is something they at all cost want to prevent. It's not really a surprise at the end of the day -- their prior actions were indicative enough to not be surprised about everything that happened recently.

Oasisman

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Quote from: matuson on January 27, 2018, 06:55:43 AM

Bitcoin has already spread around the world. A ban in one country can affect the entire market. Chinese traders will use the South Korean and Japanese exchange. Hashing power will be moved to other countries where there are a lot of cheap electricity. Bans can't stop bitcoin. The most reasonable solution is the legalization. But the government does not understand this.

Yeah, A certain ban to a specific country specially China, cant stop someone from doing or using Bitcoin transactions. Deapite of a strong Bitcoin ban in China, there were still chinese people who secretly trade cryptocurrency. Chinese government is one of the countries that has a very strict policy, and its not that they dont understand the idea behind Bitcoin, but their government were being threatend that they cannot control over their people financialy.

Mehedi72

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin
and other digital currencies by banning fundraising through initial coin offerings
and shutting down all mainland digital currency exchanges?

This is probably china thinks Bitcoin as bubble which can truns into zero or get scam anytime.
Furthermore china Ban Bitcoin due to the reason of Bitcoin is out of control and
China bank get worried about loss of their profit and there existence due to bitcoin.
And that's why they start drama with bitcoin along with all cryto currency and exchanges...
As a bitcoin lover, also want that every single country will accept BTC soon...

Maxxbill

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China's government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges. Two of the largest cryptocurrency exchanges in China, OKCoin and Huobi, issued statements on Friday.

giffen

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From what I read recently, China created a government-backed fund to finance startups.
https://www.forbes.com/sites/ralphjennings/2018/04/26/china-is-tightening-its-grip-on-cryptocurrency-to-promote-rather-than-purge-it/#3ab4f6aa5482

But in general the attitude towards crypto remains restrictive in China, imho.
And I think that one of the most important reasons is the continuing fight against capital outflow. China experienced enormous flight of capital in 2016. Capital outflow reached $725bln that year. The situation became better in 2017 but the amount of "shadow capital flight" has been on the same level since 2015. And cryptocurrencies are among the instruments used to avoid capital controls.
I suppose that government will continue its battle against capital outflow and the crypto will remain uder pressure.

Snaic

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

The Chinese government never declared war on the Crypto-currency. They take it quite seriously and study the ways of its use and implementation. It even established the Institute of Digital Currency, which is studying this new phenomenon in financial relations.
Yes, the government of China in September last year announced that the crypto currency is a threat
for the economy of the country because it allows uncontrolled withdrawal of funds from the country. Since then, they are looking for their own ways of solving this issue. However, there was not banned crypto currency as it was done in some other countries. Recently, even the information appeared that there they are going to finally allow the ICO, but under the regulation of state bodies and that they will do so in order to protect the rights of investors.

Biscutard

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Quote from: orions.belt19 on April 03, 2018, 06:52:28 PM

Quote from: ecnalubma on March 16, 2018, 12:16:26 PM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

Its kind a hard to tell where the stance of Chinese Government is heading at this moment. They are showing signs to embrace blockchain technology but they are uncertain with cryptocurrencies, maybe this year the game will change and their tone against crypto will be more welcoming.

I won’t call it an ‘embrace’. They may have not totally banned crypto, but they want control adn regulation over it - which is not a surprise. They want to have and utilize crypto, but they want it to be under their control and regulation. They will benefit and profit from crypto however their government will not allow such a decentralized wntity to run free within their country, not under their watch at least.

Chinese economy is very well known because of their hard working people and a lot of them are business minded which is a great impact to their economy while making and selling their very own products. I think the government of China are alarmed that those people who make and sell products won't work again because they are now selling a digital money/cryptocurrency.

BitHodler

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Quote from: Leyss on April 25, 2018, 10:45:34 PM

I do not think that there they are going to finally ban all the crypto currency, most likely these are some temporary difficulties.

They don't have to ban crypto ever. If you look at their actions, they are trying to prevent people from accessing exchanges, preventing people from conducting crypto versus fiat trades, and the list goes on.

In other words, they legally want to make it impossible for the mass to either buy or sell crypto, and it seems to be working already. Only a small percentage will ignore the legal framework and still buy and sell crypto.

Will they ever lift these measures? Or soften them up? I don't know and it actually doesn't really matter. Bitcoin will grow regardless of China being on board or not. Bitcoin is too scarce to suffer from country exclusion.

At some point owning even one tenth of a whole coin will be a tremendous achievement. High demand from buyers, but low urge to sell for those who already have Bitcoin.

Leyss

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

When last September, the Chinese government decided to impose its prohibitions and restrictions on the crypto currency, they clearly stated that they consider the currency a threat to the country's economy, since the crypto currency allows uncontrolled withdrawal of funds from the country. That is, the government said that it can not control the Crypto currency. Since then, they are looking for ways to solve this problem.
They also stated that they will create their national centralized crypto currency, but they have not been created so far. Then the pressure on the crypto currency was weakened, most of the stock exchanges and exchangers remained there, freely went crypto currency. Recently there were even news that in China the ICO will be allowed, but this process will be regulated. I do not think that there they are going to finally ban all the crypto currency, most likely these are some temporary difficulties.

johanesrobin

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This is good news I think China is beginning to think to open their eyes to cryptocurrency.

https://bitcointalksearch.org/topic/breaking-china-may-legalize-ico-soon-3204253

orions.belt19

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Quote from: ecnalubma on March 16, 2018, 12:16:26 PM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

Its kind a hard to tell where the stance of Chinese Government is heading at this moment. They are showing signs to embrace blockchain technology but they are uncertain with cryptocurrencies, maybe this year the game will change and their tone against crypto will be more welcoming.

I won’t call it an ‘embrace’. They may have not totally banned crypto, but they want control adn regulation over it - which is not a surprise. They want to have and utilize crypto, but they want it to be under their control and regulation. They will benefit and profit from crypto however their government will not allow such a decentralized wntity to run free within their country, not under their watch at least.

Edraket31

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Quote from: makolz26 on April 02, 2018, 09:11:08 AM

Quote from: onebtcforlife on April 02, 2018, 06:31:40 AM

Still, Government of China didn't declare anything about banning the Bitcoin and people is very curious about the news from China. While other governments are very positive about the Bitcoin technology and only China is abusing the cryptocurrency.

What China wants always is that they will be the number one in everything, and because they did not made bitcoin so they are treating it as one of their big rival, it was really frustrating to see how greedy they were when it comes to something like that, and now that they have NEO they want NEO will top the crypto world.

That is China as much as possible they want to become the number one country in the world, they are not contented and satisfied with everything, they want to the most powerful just like here in cryptocurrency they made their own coin so that it will be the one Chinese people will invest at rather than bitcoin.

makolz26

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Quote from: onebtcforlife on April 02, 2018, 06:31:40 AM

Still, Government of China didn't declare anything about banning the Bitcoin and people is very curious about the news from China. While other governments are very positive about the Bitcoin technology and only China is abusing the cryptocurrency.

What China wants always is that they will be the number one in everything, and because they did not made bitcoin so they are treating it as one of their big rival, it was really frustrating to see how greedy they were when it comes to something like that, and now that they have NEO they want NEO will top the crypto world.

onebtcforlife

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Still, Government of China didn't declare anything about banning the Bitcoin and people is very curious about the news from China. While other governments are very positive about the Bitcoin technology and only China is abusing the cryptocurrency.

arthur25

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Well, I think it wasn't a total ban. In some times but not all the time for China is one of cryptocurrency lover. They come in to crypto and go out then pretty sure they will come in again. Preparation for the future of management of cryptocurrency can be the hidden agenda.

warrior333

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Quote from: Irvinn on March 28, 2018, 03:04:03 PM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

China did not declare war on the Crypto-currency. In September last year, the Chinese government announced a crypto currency threat to the country's economy due to the fact that with the help of its out of the country could withdraw funds uncontrolled. With regard to the ICO projects, they immediately warned of significant fraud and the need to protect the rights of investors. All this time, the Chinese government was looking for ways to solve this problem. Recently, there has already been allowed the possibility of authorizing an ICO, but regulated by the state. Thus, China is gradually returning to the usual way of using crypto currency.

State regulation is an unusual state for the ICO. It seems to me that China seeks to build an ICO system with one-way traffic. Under fictitious pretexts, they block access to external ICO. So they want to stop any possibility of withdrawing capital from China. But I do not believe that the Chinese will be able to close their borders.

Kambal2000

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Quote from: Irvinn on March 28, 2018, 03:04:03 PM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

China did not declare war on the Crypto-currency. In September last year, the Chinese government announced a crypto currency threat to the country's economy due to the fact that with the help of its out of the country could withdraw funds uncontrolled. With regard to the ICO projects, they immediately warned of significant fraud and the need to protect the rights of investors. All this time, the Chinese government was looking for ways to solve this problem. Recently, there has already been allowed the possibility of authorizing an ICO, but regulated by the state. Thus, China is gradually returning to the usual way of using crypto currency.

They did not literally declared war but China already banned all cryptocurrency related, you cannot even search it in their internet and now they are targeting those miners and exchanges, don't know the update now but for sure they are just doing it because they just want their own coin to subscribe in their country.

Irvinn

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

China did not declare war on the Crypto-currency. In September last year, the Chinese government announced a crypto currency threat to the country's economy due to the fact that with the help of its out of the country could withdraw funds uncontrolled. With regard to the ICO projects, they immediately warned of significant fraud and the need to protect the rights of investors. All this time, the Chinese government was looking for ways to solve this problem. Recently, there has already been allowed the possibility of authorizing an ICO, but regulated by the state. Thus, China is gradually returning to the usual way of using crypto currency.

Fantastic33

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China banned bitcoin and other crypto exchanges but not really a way against crypto. It was issued to prevent financial risk to its holders and users, and to also prevent fraud and pyramid selling of cryptos.

http://www.scmp.com/business/banking-finance/article/2132009/china-stamp-out-cryptocurrency-trading-completely-ban

gatti

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The investors in bitcoin was 3/10 from China.Even they are lot of mining farm in China and to reduce the involvement of Chinese in the crypto investment,their government made bitcoin as illegal one.

BitcoinGirl.Club

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Farewell LEO: o_e_l_e_o

Government just wants to put in place a system they will have full control of these digital currencies while they can and not necessarily declaring war on bitcoin and other digital currencies, and I think once laws and regulations are set it should be easy for demand to grow and later on the price of the coins will rise.

marielbeckham

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It's difficult to determine what exact stage is here. Still, it's quite obvious that China won't accept BTC not willing to lose control.

Edraket31

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Quote from: danielschwerzer on March 17, 2018, 05:58:13 AM

I think it isn't a war itself
looks like chinese don't understand how to controle crypto, that's why they decided to take a break and go deep in it
i heard that they are developing their own crypto exchanger... chinese way to do things - ban foreign stuff and create smth similar lol

They do understand, they just don't want bitcoin because they cannot control it so what they did is they have created their own coin, so that their people has no choice, they also banned bitcoin and some sites for cryptos so that Chinese cannot access it and will leave no choice at all.

danielschwerzer

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I think it isn't a war itself
looks like chinese don't understand how to controle crypto, that's why they decided to take a break and go deep in it
i heard that they are developing their own crypto exchanger... chinese way to do things - ban foreign stuff and create smth similar lol

Leyss

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

What the Chinese government does is not like declaring war on a crypto currency. In China, still operate crypto-exchange exchanges and exchangers. Earlier, the government announced that it was setting up its national centralized crypto currency, but recently they are already saying that they are not in a hurry to do it. In my opinion, the Chinese government is looking for its way of introducing the crypto currency into its country. China in this regard is generally unique, the development of the economy of this country has always taken place in a separate way.

ecnalubma

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www.Artemis.co

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

Its kind a hard to tell where the stance of Chinese Government is heading at this moment. They are showing signs to embrace blockchain technology but they are uncertain with cryptocurrencies, maybe this year the game will change and their tone against crypto will be more welcoming.

fuding12

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It is said, the Chinese government considers the crypto spread in China is considered to affect retail investors, and has caused a considerable price volatility. In addition, there was a fraudulent incident reported to the Chinese government. That led to the Chinese policy holders taking immediate action to prevent the riots by prohibiting fund raising through initial coin offerings and turning off all cryptocurrencies exchange.

Proton2233

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Quote from: chris2btc on March 09, 2018, 10:28:11 PM

Answer is quite simple. Steadiness.

Both economy and politics.

People in China always follow the crowd. When there's a asset being hot and highly profitale (or even looks look profitable), crowds with unthoughtful people will come, and pump the price extreamly higher. Imagine 1.4 billion people invest bitcoin or shitcoins, and imagine the 50% dumping in Jan, how many people will jump from the top floor? And simply some steadiness about finance linquidity, foreign exchane loss, wow^^

Those will finally come to the steadiness of politics. For a despotism, what they need is steadiness, people working hard for the living, no troubles, no arguement, no unsatisfactory.

That's all.

It seems to me that the cause of the other. I do not believe that the Chinese government cares about is to protect its citizens. In many villages of China now there is no elementary medical service. There is no reason that the use of cryptocurrencies makes people independent of the monetary policy of the state. They are free in their actions. These people are hard to manage.

chris2btc

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Answer is quite simple. Steadiness.

Both economy and politics.

People in China always follow the crowd. When there's a asset being hot and highly profitale (or even looks look profitable), crowds with unthoughtful people will come, and pump the price extreamly higher. Imagine 1.4 billion people invest bitcoin or shitcoins, and imagine the 50% dumping in Jan, how many people will jump from the top floor? And simply some steadiness about finance linquidity, foreign exchane loss, wow^^

Those will finally come to the steadiness of politics. For a despotism, what they need is steadiness, people working hard for the living, no troubles, no arguement, no unsatisfactory.

That's all.

SixOfFive

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Quote from: avikz on February 26, 2018, 05:27:23 AM

Quote from: jseverson on February 26, 2018, 03:16:11 AM

Quote from: MisterPrada on February 26, 2018, 02:43:18 AM

They have already "banned" bitcoin like 10 times past 4 years without success. This is nothing new, they ban everything that is great about the internet.

They have never banned Bitcoin outright. This seems to be a common misconception. They have banned ICOs, exchanges, P2P exchanges (that served as a loophole for the initial ban), and they're currently sitting the fence on mining. Holding and trading are still fair game, but who knows how long that will last.

Either way, China is no longer the giant it once was in trading volume, and the remaining traders have already learned how to sidestep regulations. An outright ban at this point shouldn't be too crippling in the short term, FUD aside.

Right you are! China has never banned bitcoin outright. Because that can't be possible for them. So they have taken a phased approach. First they banned ICOs because that was a channel of dirty money flowing in to their economy. I have seen a lot of Chinese scammers active in the ICO market prior to China ban so it was a good news for the entire crypto community.

Now China is trying to ban the mining operations because a communist country doesn't believe in people empowerment by sidetracking them. They follow heavily centralized policies. Crypto is one way that can't be properly tracked and taxed because of its pseudo anonymous nature. So the Chinese government are not getting the proper revenue from these crypto related market. So they are trying to curb it down.

But China is not anymore the superpower of crypto market. If China ban all crypto related activities outright, the market will react for a short span. But I don't think any big impact will be seen for China's exit. Also the Chinese government knows that it is impossible to control the entire crypto market in China. So those who want to use it, they will continue using it. Absolute ban can't be achieved practically.

Complete ban on crypto may not possible but in that scenario only tech freaks or Big traders can surpass the regulation and trade crypto currency without getting into the eyes of govt. the percentage of such people who can endure such risk are very less in no. BAN from a very strong economic country like china will definitely create a environment of panic in whole crypto market.

richardsNY

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Quote from: gogrowglow on March 07, 2018, 02:08:40 AM

The all-out-war against bitcoin and other digital currencies in their country is one way of telling their people that they wants control over everything, their lives and their financial freedom and eventually they wants control all over the world. I myself don't want it to happenned, communism style of government, no freedom at all, is not a life worth living for.

It's not an all out war against Bitcoin, or at least, that's not what I believe it is. Currently, China has seen and experienced how crypto in its entirety has been growing and gaining ground in basically every economy. It might have been the case that they in the very beginning thought Bitcoin was something they could easily deal with, but now realize it's impossible. If we take all that into consideration, they could right now choose to legally prohibit every form of crypto usage, and that on all levels, but it's not happening. I am quite certain that they realized that even for them, it's impossible to ban something that can't be banned at all. China will eventually come back, but with clear regulations and rules that are more in the government's advantage. It's either banning crypto and lose control, or regulate the market and maintain control....

Edraket31

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Quote from: Lampaster on March 09, 2018, 10:44:07 AM

Quote from: Vektrum on March 09, 2018, 02:57:59 AM

It seems to me that China did not intend to declare war on the Crypto-currency. Although the government of China last September pointed out that the crypto currency is a threat to the country's economy due to the fact that it allows uncontrolled movement of significant funds in bitcoins and other crypto currency outside the country, but they are looking for their own way of solving this issue.

I do not see effective solutions in this direction. But cryptocurrencies are a secondary goal. The main goal for the Chinese government is ICO. They don't want the outflow of investment. I think that they will create an internal ICO. Foreigners can buy Chinese ICO but Chinese will not be allowed to participate in ICO abroad. It has a meaning.

Maybe they have said that because they want NEO to be one of the top cryptocurrency or will fight against Eth and Btc to take over their place as the top cryptocurrency of all time, let us see what will happen if they can make those things war possible with their very own coins.

Lampaster

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Quote from: Vektrum on March 09, 2018, 02:57:59 AM

It seems to me that China did not intend to declare war on the Crypto-currency. Although the government of China last September pointed out that the crypto currency is a threat to the country's economy due to the fact that it allows uncontrolled movement of significant funds in bitcoins and other crypto currency outside the country, but they are looking for their own way of solving this issue.

I do not see effective solutions in this direction. But cryptocurrencies are a secondary goal. The main goal for the Chinese government is ICO. They don't want the outflow of investment. I think that they will create an internal ICO. Foreigners can buy Chinese ICO but Chinese will not be allowed to participate in ICO abroad. It has a meaning.

Vektrum

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It seems to me that China did not intend to declare war on the Crypto-currency. Although the government of China last September pointed out that the crypto currency is a threat to the country's economy due to the fact that it allows uncontrolled movement of significant funds in bitcoins and other crypto currency outside the country, but they are looking for their own way of solving this issue.

marielbeckham

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It is obvious that the government considers it to be a threat. They prefer to have almost full control in its own hands.

gogrowglow

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It's all about politics and power. Knowing China who wants always to manipulate everything, wants to control the world and people, no wonder they are so much against crypto curriencies. They are against crypto currencies firstly maybe because they cannot control it, cannot taxed it so the government have no benefits on it and so they banned it in their country. The all-out-war against bitcoin and other digital currencies in their country is one way of telling their people that they wants control over everything, their lives and their financial freedom and eventually they wants control all over the world. I myself don't want it to happenned, communism style of government, no freedom at all, is not a life worth living for.

senin

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China did not declare war on bitcoin and other digital crypto-currencies. In this country they are looking for their own way of introducing the crypto currency, including the question of the optimal ratio of decentralization and centralization in the crypto currency. I think that for a crypto currency such an experience can even be useful. If China does not find its own solution to the problem, then, most likely, it will join the rest of the crypto-currency community.

Ozero

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It is hardly possible to regard the measures taken by the Chinese government to regulate crypto currency as a war against it. Back in September last year, they said that they consider the crypto currency to be a threat to their economy, because it allows uncontrolled withdrawal of large sums of money from anywhere in the world. Also, the Chinese government was concerned about the massive cases of fraud among ICO campaigns and stated that this process is subject to regulation. They are still solving these problems. This is their right, because it is the internal affairs of this state. It remains to be hoped that China will find its way to ensure that the crypto currency is recognized as a legal tender in the territory of this country.

Aikidoka

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Sinbad Mixer: Mix Your BTC Quickly

China is over-populated, thus many people are using bitcoin which it has become a real threat to the bank systems. So, China had to declare a war. That is why bitcoin has fallen sharply last year. Moreover, I do not believe they will continue with their scheme because they are going to regulate it so they can have a percentage. There are many unemployed people in China including poverty and famine. And the government's best choice was to ban bitcoin. Unbelievable.

bajigur894784

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As we know, rising and falling of exchange rates Bitcoin and other cryptocurrencies are pure followed the market mechanism. so the Chinese government can not control the exchange rate, unlike the yuan against the US dollar. The government always dislikes something that can not be regulated. maybe that's why the Chinese government forbids ICO and cryptocurrency exchange.

Kambal2000

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Quote from: Mobshady24 on February 28, 2018, 08:38:15 AM

The main targeted crypto related activity as far as i know are those ICOs and domestic exchanges as well as foreign exchanges due to the financial risk though i don't know what kind of risk they were talking about, i believe if chinese government ends up banning possession and trading of bitcoin is not the end game of cryptocurrency, there is a wider market out there than a single country like china.

You are right, they want their countrymen to promote and to support their own coins, they don't give freedom to their people to choose what they want, and besides that they want to imposed tax in their domestic coins which they are having a hard time imposing it in bitcoin.

KingScorpio

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

short and simple:

chinas central bankers will take the role of protecting the supply of motivated and rewarded labor for the countries economic structures, to ensure social order and peace

that is why they have to be in a conflict with cryptoeconomics,

Additionally chinas current corporate elite, will push them towards that direction, for personal and altruistic reasons

now give me your merits

regards

Scorpio

Mobshady24

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The main targeted crypto related activity as far as i know are those ICOs and domestic exchanges as well as foreign exchanges due to the financial risk though i don't know what kind of risk they were talking about, i believe if chinese government ends up banning possession and trading of bitcoin is not the end game of cryptocurrency, there is a wider market out there than a single country like china.

Fobrins

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Quote from: darkangel11 on January 26, 2018, 12:36:08 PM

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

They have closed down the exchanges some time ago, but it's not set in stone. What I mean by that is, there's a reason for the ban and it's not "the good of the people" or a similar slogan. They are doing it to make all crypto businesses file for a government issued license and that will require them to pay a certain fee. The license will also make sure only certain people are allowed to run an exchange and this will of course be members of the ruling party or their family members.
IMO by this time next year they will announce the plan to tax and regulate exchanges.

It makes sense. Full control and corruption at its best.
China is harsh with everything else too not just with Bitcoin.

Edraket31

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They have declared because they wanted to make their own coin to be known and supported by Chinese rather that bitcoin, they have seen the potential it brought to each individual and they don't want that they cannot control it so they made their own not to compete with bitcoin but to control their people and can collect tax on them.

BitHodler

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Quote from: avikz on February 26, 2018, 05:27:23 AM

But China is not anymore the superpower of crypto market. If China ban all crypto related activities outright, the market will react for a short span. But I don't think any big impact will be seen for China's exit.

China's importance has been greatly exaggerated by the market for a very long time. It's safe to say that after the PBOC stepped in, the Chinese market showed its real nature, which is a very unmotivated market.

If you look at the ratio of China's massive size in comparison to other countries, and put it against the volumes they generated on a daily basis, they are a non important market overall.

The only reason that market boomed in the first place, was because of high frequency traders taking advantage of the zero fee structure the exchanges were using to massively inflate their volumes.

It shouldn't come as a surprise that after the exchanges there were forced to shut down, the general Bitcoin and crypto market did better than ever before. It's a clear sign that China's importance was only a thing in people's minds.

btrice7

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The Chinese government does not want the Chinese people to be rich.then who will work cheap?..

KorakPawon

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1. Bitcoin pricing does not have clear rules. So the price can change change every time. "For the determination of the price of this product is not based on a clear underline transaction (guarantee), so the possibility of speculating the price rise and fall is very high
2.Bitcoin also does not have adequate consumer protection rules. Therefore, in the event of a loss, the user can not file a claim
essentially can only harm the user

avikz

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Quote from: jseverson on February 26, 2018, 03:16:11 AM

Quote from: MisterPrada on February 26, 2018, 02:43:18 AM

They have already "banned" bitcoin like 10 times past 4 years without success. This is nothing new, they ban everything that is great about the internet.

They have never banned Bitcoin outright. This seems to be a common misconception. They have banned ICOs, exchanges, P2P exchanges (that served as a loophole for the initial ban), and they're currently sitting the fence on mining. Holding and trading are still fair game, but who knows how long that will last.

Either way, China is no longer the giant it once was in trading volume, and the remaining traders have already learned how to sidestep regulations. An outright ban at this point shouldn't be too crippling in the short term, FUD aside.

Right you are! China has never banned bitcoin outright. Because that can't be possible for them. So they have taken a phased approach. First they banned ICOs because that was a channel of dirty money flowing in to their economy. I have seen a lot of Chinese scammers active in the ICO market prior to China ban so it was a good news for the entire crypto community.

Now China is trying to ban the mining operations because a communist country doesn't believe in people empowerment by sidetracking them. They follow heavily centralized policies. Crypto is one way that can't be properly tracked and taxed because of its pseudo anonymous nature. So the Chinese government are not getting the proper revenue from these crypto related market. So they are trying to curb it down.

But China is not anymore the superpower of crypto market. If China ban all crypto related activities outright, the market will react for a short span. But I don't think any big impact will be seen for China's exit. Also the Chinese government knows that it is impossible to control the entire crypto market in China. So those who want to use it, they will continue using it. Absolute ban can't be achieved practically.

jseverson

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Quote from: MisterPrada on February 26, 2018, 02:43:18 AM

They have already "banned" bitcoin like 10 times past 4 years without success. This is nothing new, they ban everything that is great about the internet.

They have never banned Bitcoin outright. This seems to be a common misconception. They have banned ICOs, exchanges, P2P exchanges (that served as a loophole for the initial ban), and they're currently sitting the fence on mining. Holding and trading are still fair game, but who knows how long that will last.

Either way, China is no longer the giant it once was in trading volume, and the remaining traders have already learned how to sidestep regulations. An outright ban at this point shouldn't be too crippling in the short term, FUD aside.

MisterPrada

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They have already "banned" bitcoin like 10 times past 4 years without success. This is nothing new, they ban everything that is great about the internet.

thrylos

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

Here is my opinion to this unpleasant action of China against bitcoin,
We all know that china is always after for something which they can earn big for their side. Are you not wonder that everytime Chinese New Year is approaching and passing the price of bitcoin is affected? It decreases, so it is quite strange seems that chinese people has a control over bitcoin. So banning bitcoin is one of their strategy to put bitcoin down the price and buy more from the lowest price.

AssiZichlinski

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Quote from: Baoo on January 26, 2018, 04:22:03 PM

It is definitely that there are a major problems in the economy of China, due to the existence of Bitcoin and other currencies in the market. Moreover, this has led to preventing the use of all digital currencies in this country.

In addition to that, the government of China has tried many times to break the progress of bitcoin and it has not been able to achieve that goal. In my opinion, if many economic crises occur in the coming period, then it is sure that china will recognize all digital currencies (I think it will be achieved in the near future) .

China's position is two-fold. First, regarding their recent clamp-down on bitcoin mining, the government is fearful of an overload on their electrical infrastructure. Second, regarding cryptocurrencies in general, the government is simply fearful of a loss of central control (as they always are). Surprisingly, the idea of crypto itself doesn't scare them - they are creating their own government-issued cryptocurrency - but they are fearful of the use of external coins to transfer money in and out of the country beyond their watch, and the ability of individuals to amass wealth without their notice.

maurenza

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global worries about the risk of a bubble.Bubble condition occurs when the price of a commodity is soaring too high. Eventually, this could impact the disruption of financial stability.

lili song

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The China government they want control them self almost all sector. So that reason they ban other coins in their country.
The government support their local products, it will effect the country grow fast and the welfare of their communities.

r01k

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After all the Chinese government still considers itself communist and monopartidist, which allows them to control whatever they want. For such authoritarian regimes "decentralized" and "accessible" are anathema. Heck, they don't event allow a free Internet; why would they in their sane minds not ban cryptocurrencies?

veleten

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to understand why ,one has to look at the global politics and what is going on in the world at the moment
China is trying to establish itself as one of the superpowers,challenging the US on every front
bitcoins and cryptocurrencies in general allow money to escape the regulations
people and companies are able to move millions of dollars literally undetected and uncontrolled
it can lead to many bad things including risks to the current regime in power

matuson

sr. member

Activity: 420

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Bitcoin has already spread around the world. A ban in one country can affect the entire market. Chinese traders will use the South Korean and Japanese exchange. Hashing power will be moved to other countries where there are a lot of cheap electricity. Bans can't stop bitcoin. The most reasonable solution is the legalization. But the government does not understand this.

RamonBTC

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China has this idea of owning and controlling the cryptocurrency market and been acting one since last year. They’re attacking bitcoin at once because it is the most powerful of all crypto coin and if this happen then it would be easy for them to crash every alternative coins that is available. There implementing they’re new coin in the market that most of us know about but not aware of its consequences because we’re too greedy for profits.

marcbitcoins

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Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

I thought banning is over last year so this is another occurrence i guess? Well for me they are banning bitcoin and digital currencies because as they have the biggest miners in the world that maybe they want to manipulate the price of bitcoin and control it so that they have the control of Bitcoin in which a big help to their economy to become more strong than America. We know that many Chinese are in crypto currencies investments that they have the great numbers so there is possibility of conspiracy.

Indrawan77

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I think the china government want to control every transaction that the citizens make, the China government is famous for its tight supervision for every thing, and the government see crypto currencies as something threatening, it can caused people to avoid tax and doing money laundering with it, and the government shutting down the ICO because there are so many people scammed through ICO

Baoo

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It is definitely that there are a major problems in the economy of China, due to the existence of Bitcoin and other currencies in the market. Moreover, this has led to preventing the use of all digital currencies in this country.

In addition to that, the government of China has tried many times to break the progress of bitcoin and it has not been able to achieve that goal. In my opinion, if many economic crises occur in the coming period, then it is sure that china will recognize all digital currencies (I think it will be achieved in the near future) .

darkangel11

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Don't let others control your BTC -> self custody

Quote from: The BlockRx Project on January 25, 2018, 02:22:01 PM

China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

They have closed down the exchanges some time ago, but it's not set in stone. What I mean by that is, there's a reason for the ban and it's not "the good of the people" or a similar slogan. They are doing it to make all crypto businesses file for a government issued license and that will require them to pay a certain fee. The license will also make sure only certain people are allowed to run an exchange and this will of course be members of the ruling party or their family members.
IMO by this time next year they will announce the plan to tax and regulate exchanges.

stantpro

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Does this imply that bitcoin exchanged and mining having been banned in China
may also be repeated by other countries of the world?If this happens, where is then the safe haven
to mine and exchange bitcoin and other cryptocurrencies?Hope there is a way out of this
governmental war against bitcoin in China?Let it not extend to other countries.

signalbitbot

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Activity: 126

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This is decided by the government, it is beneficial for them to take everything under control.

The BlockRx Project

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China’s government is starting an all-out war against bitcoin and other digital currencies by banning fundraising through initial coin offerings and shutting down all mainland digital currency exchanges?

Topic: Why has China declared war on bitcoin and digital currencies? (Read 633 times)