Topic: Will China ban bitcoin completely? opinions - page 4. (Read 505 times)

I do not think china will likely tire bitcoin
if they will make their own cryptocurrency they need bitcoin as their marketing container unless they make it only for their own country

doesn't seem to be possible for bitcoin is not only the State-owned China only. Anyway, this would not be a great problem because there are still many other countries who would support the bitcoin if see the potential of this coin.

Beijing - One of the popular virtual money alias cryptocurrency, Bitcoin, is experiencing a decline in exchange rates. Chinese policy is the reason.
The Chinese government issued a policy prohibiting the transaction of initial coin offerings (ICO). The ban was issued not without reason.
As quoted from Reuters on Friday (15/09/2017), there are several reasons Bamboo Curtain country banned Bitcoin transactions.

Virtual currencies are hard to control
Bitcoin exchange rate up and down purely following the market mechanism. The government can not control the exchange rate, unlike the yuan against the US dollar. The government does not like something that can not be arranged.

Easy to use for fraud
For some people who understand the Bitcoin movement, it could be a lucrative investment. But for those who do not understand can be bandwagon and entrust the money to buy Bitcoin through any place so that there can be fraud.

Destroying the investment world
Bitcoin is potentially bubble and breaks out after a lot of popularity and lots of people want to have. Evidenced by its value that skyrocketed from Rp 10 million to Rp 60 million in just 8 months. When the bubble bursts and the price falls, the investor will be harmed.

China is the center of virtual currency transactions
Two of the world's largest Bitcoin markets exist in China. Imagine how much damage China suffered when bubble and break.

China wants to make its own virtual money
It is not impossible that China wants to create its own cryptocurrency that can be government legality. During this time many things are banned in China, in the end they make their own.

Used illegal transactions
Bitcoin transactions are difficult to trace. It is used by irresponsible parties for money laundering, drug sales, smuggling, and other illegal activities.

I do not think that China will ban the BTС. Against the backdrop of more and more countries that legalized the cryptocurrency,  this seems impossible.

The community of China will find the other way to support(Invest, Mining etc) Cryptocurrency, so far there is no regulation on Bitcoin so it will never ban in my opinion.

China is not ban in cryptocurrency but some regulations are possible in the country because every year chinese government block the trading site then again they will allow to survive in the market. So we don't consider the China this will always supporting to cryptocurrency. But US government is main killer in the crypto platform so other countries are favourable in Cryptocurrency.

Why they have to ban it? It's gonna be really stupid, i think they would find a solution to control it / everyone would need to complete KYC to buy/sell on Chinese markets.

But if they would ban - it gonna be veery bad, -3k instantly

China is the world's largest BTC holder, forbid what they will be?

I believe that such kind of news is oriented on creating FUD exclusively.
Whales use panic sells for buying on the dip. Of course, crypto economy needs to be regulated, but there are different ways to do it except total banning.
Although China government introduces tough laws against crypto I'm sure they won't miss opportunities provided by blockchain technologies. As bitcoin is the essential part of this technological movement, so they definitely won't ban it completely.

I think that eventually they will try but the problem is how can you truly ban something that you or anyone else have zero control over? Sure eventually you may be able to create some sort of program that would block bitcoin transactions but the problem then becomes what if another coin type pops up? Virtually anyone can create alt coins in the current world we are living in for various purposes so what's stopping someone from creating another coin to trade with. As much as they might potentially "hate" it sadly it's the future we are going to.

China can completely prohibit the crypto currency. They can come up with something of their own. There are a lot of them.

The point is China is a sovereign nation like any other nation on earth and when they detect anything will harm their economy,they are at liberty to ban it.So they could one day wake up and ban bitcoin altogether without recourse to anyone.So that is a possibility we cant deny.

not big problem
all china exchanger still open binance, kucoin, okex, okchanger, huobi and more
and crypto curency user in china still use crypto curency include bitcoin

Officially - possibly. Technically - how? With great chinese bitcoinwall?

Cryptocurrency ban in China is one of the most discussed topics in the community.
The truth is that bitcoin thrives in the country, despite the restraining policy of the local government.