Bitcoin defeats the Chinese government

[Xenophoto]

I doubt there is anything that any government can do to destroy bitcoins like the US government did to Liberty Reserve, am sure thats one of the reason why satoshi has remained anonymous so far . he doesn't want any charges of money laundering and tax evasion brought against him by any government.

How can it be money laundering or tax evasion when bitcoins isn't issued or regulated by any government? That's the one of the privileges you get if you use bitcoin. You don't have to pay any tax, you don't go to jail for hoarding money or so.

Maybe one government is not enough so I'm thinking that maybe all countries are going to try and destroy bitcoins. But I really do believe that if ever a government, especially a major one, have done a single thing that's about bitcoins, it will just introduce more members. Thus, it will have a negative effect to them instead. When they announce that they are going to put a ban on bitcoins, people are going to be curious about it and probably use it when they found out the use and advantages of bitcoins.

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[Yakamoto]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

[OROBTC]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

Yes, I'll along with all that you wrote.  There seem to be many ways of getting BTC out of China (and so can buy other assets outside of China).  I believe a lot of VPNs also work in China to cloak browsing as well as make it possible (at least in many cases) to avoid the "Great Firewall of China".

Should it become easier to buy assets worth a lot of money with Bitcoin, more Chinese people will likely start getting money into BTC and out of China.

[centralbanksequalsbombs]

Bitcoin has already defeated every regulation and government that tries to restrict it. And will automatically defeat all future attempts of regulation and governments. 

Because by definition, since inception, through the future, defeats both.

[Nagadota]

Bitcoin doesn't need to "defeat" the Chinese government.  A lot of their supposed attempts at regulation before were just FUD, and now that they're seemingly actually trying to do something it's not significant.

[andrei56]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

Yes, I'll along with all that you wrote.  There seem to be many ways of getting BTC out of China (and so can buy other assets outside of China).  I believe a lot of VPNs also work in China to cloak browsing as well as make it possible (at least in many cases) to avoid the "Great Firewall of China".

Should it become easier to buy assets worth a lot of money with Bitcoin, more Chinese people will likely start getting money into BTC and out of China.

Even if nothing like that existed what is stopping the person to buy bitcoin in other countries, simply put the ways we can use bitcoin to achieve our goals are almost unlimited and no amount of regulation is going to change that anytime soon.

[fathur.aza]

I think it is very satisfying for our users and can beat china bitcoin.
forward bitcoin

[BitcoinPanther]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

Honestly, I never think that the Chinese government is suppressing Bitcoin or Bitcoin users and Bitcoin miners.  If they are, they should have release and order of closure of all the Bitcoin mining farm in their country.  But have we heard of that news?  No.  Simply because Chinese government just want to make things in order.  They need to protect their interest and preserve their law on AML and KYC.  The reason why they are only after the exchanges that transacts Bitcoin and  other currencies.

[talkbitcoin]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

Honestly, I never think that the Chinese government is suppressing Bitcoin or Bitcoin users and Bitcoin miners.  If they are, they should have release and order of closure of all the Bitcoin mining farm in their country.  But have we heard of that news?  No.  Simply because Chinese government just want to make things in order.  They need to protect their interest and preserve their law on AML and KYC.  The reason why they are only after the exchanges that transacts Bitcoin and  other currencies.

exactly this. i have been saying this for a long time.
every time there is some small news in China about regulations, all the news media make that simple news into something horrible and make it so that Chinese government seem like a dictatorship set out to kill anybody who even thinks about bitcoin
and when you think about these new or get them from proper Chinese resources you can clearly see that the concern has always been about illegal activities done with bitcoin and an attempt to prevent it and nothing more.

so i say whoever that is talking about China and how they want to kill bitcoin is either very misunderstood person or they want to do something illegal and this prevents them.

[bitart]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

Honestly, I never think that the Chinese government is suppressing Bitcoin or Bitcoin users and Bitcoin miners.  If they are, they should have release and order of closure of all the Bitcoin mining farm in their country.  But have we heard of that news?  No.  Simply because Chinese government just want to make things in order.  They need to protect their interest and preserve their law on AML and KYC.  The reason why they are only after the exchanges that transacts Bitcoin and  other currencies.

exactly this. i have been saying this for a long time.
every time there is some small news in China about regulations, all the news media make that simple news into something horrible and make it so that Chinese government seem like a dictatorship set out to kill anybody who even thinks about bitcoin
and when you think about these new or get them from proper Chinese resources you can clearly see that the concern has always been about illegal activities done with bitcoin and an attempt to prevent it and nothing more.

so i say whoever that is talking about China and how they want to kill bitcoin is either very misunderstood person or they want to do something illegal and this prevents them.

OK, but if you don't have a trustable Chinese resource, you can't decide if the news are legit or not... Moreover, China is a very strict country, so you can just belive the news if they're a bit horrible. Things are different in China, so who knows...
I'm wondering what will be next after the BU thing that comes from China, but I'm more curious about Japan, since there are great news from there in connection with the everyday use of bitcoin. Japan is a bit different country, so we'll see.

[omonuyak]

I'm still not familiar with how most investments work but if they're earning less from it then that's a good thing. I'd understand that shorting is an investment strategy some individuals use but if the government does engage in it would really be unfair since they have larger influence in how things are run that it almost seem unethical.

very very unethical! I find out that any time the price of bitcoin  make an attempt to be more than the price of gold the people bank of china will come up with they usual trick of regulations of the big exchangers like okcoin, btcc and others and the arm is to create panic  were people will sell off they position. But they have be cut to their size.

[Hydrogen]

Mao Zedong's "revolution" was funded by international banking cartels.

Today, banks wield a great deal of influence in china.

It could help to recognize many of china's policies are written by bankers, rather than by chinese politicians.

[JeffBrad12]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

Honestly, I never think that the Chinese government is suppressing Bitcoin or Bitcoin users and Bitcoin miners.  If they are, they should have release and order of closure of all the Bitcoin mining farm in their country.  But have we heard of that news?  No.  Simply because Chinese government just want to make things in order.  They need to protect their interest and preserve their law on AML and KYC.  The reason why they are only after the exchanges that transacts Bitcoin and  other currencies.

exactly this. i have been saying this for a long time.
every time there is some small news in China about regulations, all the news media make that simple news into something horrible and make it so that Chinese government seem like a dictatorship set out to kill anybody who even thinks about bitcoin
and when you think about these new or get them from proper Chinese resources you can clearly see that the concern has always been about illegal activities done with bitcoin and an attempt to prevent it and nothing more.

so i say whoever that is talking about China and how they want to kill bitcoin is either very misunderstood person or they want to do something illegal and this prevents them.

I'm wondering what will be next after the BU thing that comes from China, but I'm more curious about Japan, since there are great news from there in connection with the everyday use of bitcoin. Japan is a bit different country, so we'll see.

Believe me, You will see block extension after the bitcoin unlimited soon. Japan is announcing if the bitcoin has accepted on the japan. But the next news will have related to that topic.
https://themerkle.com/bitcoin-unlimited-vs-extension-blocks/
More competitor for SW, although it was still being an untested proposal.
It looks the Japan becomes a leader in the bitcoin right now. Along with the bitcoin's history and this is the first time Chinese gets kicked out by the japan from his domination.

[deisik]

I doubt there is anything that any government can do to destroy bitcoins like the US government did to Liberty Reserve, am sure thats one of the reason why satoshi has remained anonymous so far . he doesn't want any charges of money laundering and tax evasion brought against him by any government.

How can it be money laundering or tax evasion when bitcoins isn't issued or regulated by any government? That's the one of the privileges you get if you use bitcoin. You don't have to pay any tax, you don't go to jail for hoarding money or so

You are either severely misinformed or ignorantly uninformed

While keeping and using Bitcoin in general cannot be considered money laundering (unless you deliberately go for that, of course), but it is certainly not so with taxes as you seem to assume. The fact that the government didn't create, doesn't issue or regulate Bitcoin doesn't in the least mean that it is somehow tax free altogether. The government likely didn't build your home either (provided you have one in the first place), but you still have to pay a property tax on it. With Bitcoin, you have to pay an income tax on your earnings that you obtain via Bitcoin operations. It is easy to avoid this tax, but that doesn't make Bitcoin less taxable and your tax evasion less illegal. Sorry to dispel your illusions on this account

[KennyR]

Bitcoin haven't defeated any government for its well being. It grew as a technology to support financial system which in turn due to the growth got used as an payment gateway and for illegal transactions. Now most of them consider it an investment as the growth experienced is high than other investments.

[Barbut]

Bitcoin didn't defeat Chinese government, new players or new strategy used by old players lowered Chinese influence on bitcoin network. I doubt that any coin can defeat countries, I don't think that bitcoin is made for that ( or I'm wrong? ). And when we are on influence on bitcoin, I think that is on miners and and early adopter's cause they have a lot of bitcoins, and they can manipulate with markets.

[btcdevil]

I doubt there is anything that any government can do to destroy bitcoins like the US government did to Liberty Reserve, am sure thats one of the reason why satoshi has remained anonymous so far . he doesn't want any charges of money laundering and tax evasion brought against him by any government.

How can it be money laundering or tax evasion when bitcoins isn't issued or regulated by any government? That's the one of the privileges you get if you use bitcoin. You don't have to pay any tax, you don't go to jail for hoarding money or so

You are either severely misinformed or ignorantly uninformed

While keeping and using Bitcoin in general cannot be considered money laundering (unless you deliberately go for that, of course), but it is certainly not so with taxes as you seem to assume. The fact that the government didn't create, doesn't issue or regulate Bitcoin doesn't in the least mean that it is somehow tax free altogether. The government likely didn't build your home either (provided you have one in the first place), but you still have to pay a property tax on it. With Bitcoin, you have to pay an income tax on your earnings that you obtain via Bitcoin operations. It is easy to avoid this tax, but that doesn't make Bitcoin less taxable and your tax evasion less illegal. Sorry to dispel your illusions on this account

Ya it is true that the users dont wanted to pay tax so he is just ignoring it or wantedly he is just commenting here but he knows that if their government states bitcoin as illegal  then obviously he will be more worried if he is holding bitcoins in high stock. Some country are just ignoring the bitcoin but having the close watch on the transaction and uses of it and some country are making steps to curb bitcoin and its users.

[talkbitcoin]

I've never expected for the Chinese government to ever really be able to combat the "Bitcoin menace" as it would be, regardless of all the various things they try to implement to get their people from using it. There are simply too many people with too many different means of getting what they want, along with too big of a market to stop it at this point.

Bitcoin is no longer experiencing the same influence from China as it once did. There is still some influence China can exert, but it is much smaller than what it used to be.

Honestly, I never think that the Chinese government is suppressing Bitcoin or Bitcoin users and Bitcoin miners.  If they are, they should have release and order of closure of all the Bitcoin mining farm in their country.  But have we heard of that news?  No.  Simply because Chinese government just want to make things in order.  They need to protect their interest and preserve their law on AML and KYC.  The reason why they are only after the exchanges that transacts Bitcoin and  other currencies.

exactly this. i have been saying this for a long time.
every time there is some small news in China about regulations, all the news media make that simple news into something horrible and make it so that Chinese government seem like a dictatorship set out to kill anybody who even thinks about bitcoin
and when you think about these new or get them from proper Chinese resources you can clearly see that the concern has always been about illegal activities done with bitcoin and an attempt to prevent it and nothing more.

so i say whoever that is talking about China and how they want to kill bitcoin is either very misunderstood person or they want to do something illegal and this prevents them.

OK, but if you don't have a trustable Chinese resource, you can't decide if the news are legit or not... Moreover, China is a very strict country, so you can just belive the news if they're a bit horrible. Things are different in China, so who knows...
I'm wondering what will be next after the BU thing that comes from China, but I'm more curious about Japan, since there are great news from there in connection with the everyday use of bitcoin. Japan is a bit different country, so we'll see.

there is 8btc that gives more logical and level headed news.
but even without a news source you can use your head and your own logic. look around you and see what business is working without a license? that is right, NO business that is legal and works with fiat.
now imagine you hear a business with 20 million something dollar money flow on daily basis is working without a license or anything else.
that business is bitcoin exchanges in China.

and i don't get why you bring BU into this so i won't comment on that.

[Oilacris]

I doubt there is anything that any government can do to destroy bitcoins like the US government did to Liberty Reserve, am sure thats one of the reason why satoshi has remained anonymous so far . he doesn't want any charges of money laundering and tax evasion brought against him by any government.

How can it be money laundering or tax evasion when bitcoins isn't issued or regulated by any government? That's the one of the privileges you get if you use bitcoin. You don't have to pay any tax, you don't go to jail for hoarding money or so

You are either severely misinformed or ignorantly uninformed

While keeping and using Bitcoin in general cannot be considered money laundering (unless you deliberately go for that, of course), but it is certainly not so with taxes as you seem to assume. The fact that the government didn't create, doesn't issue or regulate Bitcoin doesn't in the least mean that it is somehow tax free altogether. The government likely didn't build your home either (provided you have one in the first place), but you still have to pay a property tax on it. With Bitcoin, you have to pay an income tax on your earnings that you obtain via Bitcoin operations. It is easy to avoid this tax, but that doesn't make Bitcoin less taxable and your tax evasion less illegal. Sorry to dispel your illusions on this account

Ya it is true that the users dont wanted to pay tax so he is just ignoring it or wantedly he is just commenting here but he knows that if their government states bitcoin as illegal  then obviously he will be more worried if he is holding bitcoins in high stock. Some country are just ignoring the bitcoin but having the close watch on the transaction and uses of it and some country are making steps to curb bitcoin and its users.

I dont know whats on the mind on that dude above mentioning that theres no harm on using bitcoin when it comes to tax issues and yet government would be really have a close watch when tax is involved and it can really caught their attention when you do hoard lots of it.Its really suspicious but depend on how you gonna execute it and you are right some countries do really have serious matter when it comes to bitcoin but it they arent do care at all.

[Mia Wallace]

Bitcoin doesn't need to "defeat" the Chinese government.  A lot of their supposed attempts at regulation before were just FUD, and now that they're seemingly actually trying to do something it's not significant.

What difference does it make if China and other countries try to regulate bitcoin,either people start investing heavily in it because the government have regulated and with China being the major players in the mining area as they did have some power but now things have changed as more countries are looking into the opportunity and technology.