Bitcoin Forum

November 2, Beijing-“If bitcoin exchanges were not shut down a few month ago to crack down ICO, and if over 80% of bitcoin trading and ico financing took place in China, can you imagine what would it look like today? Personally, I am a bit scared when flash back.” Pan Gongsheng, Vice President of PBoC, said when asked about bitcoin on a forum held in Beijing.


http://news.8btc.com/pboc-official-sitting-by-the-river-one-day-you-will-see-the-body-of-bitcoin-drift-past

With that said, I think they already put into rest speculations about Chinese bitcoin trading platforms opening its door once more. Chinese authorities decided to ban digital currencies as part of a plan for reducing the country's financial risks. But how did bitcoin really become a financial risk to the Chinese government? I would understand banning ICO's because there's a lot of scams out there, but shutting down bitcoin exchanges? I really don't know.

I have a feeling that the Chinese government is really feeling threaten by bitcoin growing everyday and they can't contained it in the future that's why they have to make a drastic move last September. But seeing bitcoin die as he portray it is out of context. It would never die and will continue to flourish.

China can chortle Jihan's balls.

They'll change their tune when they see sovereign states going all-in on blockchain and Bitcoin.

But first, they have to navigate their own impending credit crunch, and prop up their economy so Xi's ambitions can be fulfilled when they have their grand 2020 celebration.

They have plenty of problems, Bitcoin is just a drop in that ocean.

Bitcoin threat to any of the formal economy. Even if we assume that all bitcoin users will honestly pay all the taxes it will not help the government. People will choose better-paid jobs in the Internet and the real economy will begin to suffer from labor shortages. I think that is the key that is afraid of any state.

I've been thinking about it from a long time . There is no denying of the fact that Bitcoin has flourished after the China ban but imagine what would it be if it was no banned ?
Bitcoin would've been near $20,000k at this time . But obviously sooner or later the dream figure is going to be attained . The coinbase has already witnessed wonders in this year . The Chinese government has apparently decided to launch their own cryptocurrency . This seems like such an irony to me " Banning bitcoin for getting profit out of their crypto currency" . The governments always play a dirty game to get profit from any possible way.

Maybe Bitcoin is too big to ignore at the moment. And officials have learned to shun future accusations of "no regulation".

Do you think CME and US government are plotting to tame "bitcoin" so that it becomes less attractive as a store of value?