China Will Kill Bitcoin: A Conspiracy Theory

[CryptoBry]

I am presenting a speculative idea and a conspiracy theory and here it is: China is planning to kill the whole of the cryptocurrency market starting with the biggest of them all Bitcoin and all the rest will follow. In fact, there is a detailed plan being worked out on here and it started with the banning of all ICO projects...next is the ban of all Bitcoin exchanges and soon all citizens of China having Bitcoin will be imprisoned for 20 years (only 5 years if the person will surrender his Bitcoin to the government for possible burning).

Do you think am I hallucinating due to the "shabu I bought coming from China? Or am I only making some predictions that has more chance to come true than playing in lottery?

Please tell me what you think...and let's have some fun!

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[peter0425]

I am presenting a speculative idea and a conspiracy theory and here it is: China is planning to kill the whole of the cryptocurrency market starting with the biggest of them all Bitcoin and all the rest will follow. In fact, there is a detailed plan being worked out on here and it started with the banning of all ICO projects...next is the ban of all Bitcoin exchanges and soon all citizens of China having Bitcoin will be imprisoned for 20 years (only 5 years if the person will surrender his Bitcoin to the government for possible burning).

Do you think am I hallucinating due to the "shabu I bought coming from China? Or am I only making some predictions that has more chance to come true than playing in lottery?

Please tell me what you think...and let's have some fun!

Damn man, you are really high with the "Shabu" thingy you got. You gimme some. LOL.

But seriously, though what benefits are the Chinese getting from banning bitcoin or even killing it? Chinese has been the beneficiary of bitcoin ever since they have found and love it and evident of the miners farm they have. Personally, we are not thinking the same by saying that they have this plan and why just now? And if ever this comes into reality, others will take the void that China will left and bitcoin will still continue to function normally.

[lidd0512]

what they want to do is just regulate the token market and grab it in hands instead of getting rid of it.As digital currency is always decentraling and seperating from gov's hands,what china has done and being done is just on the contrary of digital currency's mind.what if the things you are doing is on opposite side of the main trend,will it succeed of fail?

[minthit]

I am presenting a speculative idea and a conspiracy theory and here it is: China is planning to kill the whole of the cryptocurrency market starting with the biggest of them all Bitcoin and all the rest will follow. In fact, there is a detailed plan being worked out on here and it started with the banning of all ICO projects...next is the ban of all Bitcoin exchanges and soon all citizens of China having Bitcoin will be imprisoned for 20 years (only 5 years if the person will surrender his Bitcoin to the government for possible burning).

Do you think am I hallucinating due to the "shabu I bought coming from China? Or am I only making some predictions that has more chance to come true than playing in lottery?

Please tell me what you think...and let's have some fun!

Government of China had history of taking actions boldly, even though it might not be trasparent. In my opinion, banning ICO is just trying to fight against 'illegal activities' behind it. It does not necessarily mean they are trying to kill cryptocurrency. They are also quite strict with money laundering. If cryptocurrency is becoming a popular way to money laundering, they will boldly kill crypto. So, in my opinion, the illegal issues will play a key role for the conspiracy to turn out to be true.

[danim1130]

this will not gonna happen not only china can be the destruction of the bitcoin there are so many country's that supports bitcoin including the one of the most wealthy country korea and japan they are supporting this coin until today so this theory can't be happen.

[Yarsk]

Only China can't ban bitcoin what they know is that bitcoin is a decentralized currency so is other cryptocurrencies, they can regulate it acceptability but not total ban. China is right in their own way may be they want to stop money laundering in their country. And their are afraid cryptocurrencies may be use to launder money out of the country.

[Immakillya]

Lol. Man, just stop what you drinking. Cut that shit. China isn't North Korea man. Why would they do that? China is the biggest bitcoin miner in the world. If they are going to ban bitcoin. A lot of people there will suffer. It's just ICOs are prohibited there not other cryptos.

what they want to do is just regulate the token market and grab it in hands instead of getting rid of it.As digital currency is always decentraling and seperating from gov's hands,what china has done and being done is just on the contrary of digital currency's mind.what if the things you are doing is on opposite side of the main trend,will it succeed of fail?

You are right. They don't have to get rid all of it because there are still way to regulate it. Implementation of Know Your Customer (KYC) policy i think is enough to regulate it.

[Iranus]

It's a bit late for that.  The Chinese government have not been oblivious to Bitcoin over the last few years at all - if they know what it's like and they intend to ban it, it would already have been banned several years ago.

In reality they know that there are people in China making profit from mining and other Bitcoin-related activities, so there's no point stopping that useful business.
You can't ban Bitcoin anyway.  You can try, but it'll only get rid of the people using it for legal things.  People who use it for illegal things will continue because they're better at handling their privacy.

[severaldetails]

I do not think that China really needs a plan when it wants to shut down the market of cryptocurrencies.
China would simply do it. There is no need for them to do anything step by step.
China is no democracy.
One announcement from their central bank that declares the usage of all cryptocurrencies as illegal, and that would be it.

But they have not done it. So I am pretty confident something like that is not going to happen.

[Coffee135]

Lol! Let forbid. What will come of this? You think the world will suffer if China closes exchanges crypto currencies? All the rest of the exchange is with great pleasure that increase their transaction volumes. Also destroyed the dominance of China among the miners. I'm all for it. Moreover, even if it does not need to provoke. China has long captured the global economy and is now trying to do the same thing with crypto economy.

[sachinunchwal02]

Every time a government sets out to abolish something people like, the well-liked thing moves to where it can’t be stopped. This has happened with prohibition, gambling, the war on drugs and digital piracy. Now it's happening in China, where the government has been trying to crack down on bitcoin.

[xFiber]

You really do have a very dark but creative mind to say the least. This might be something North Korea would do if their citizens had access to the internet. But I honestly think China is just being extremely smart and hoarding loads of bitcoin to be ahead of the game for the years to come.

[talkbitcoin]

i don't know why you keep creating topics like these in different boards but it seems like you have put too much faith in one country and what its government does! if bitcoin someday gets affected by the government of one country while others are accepting it, then bitcoin is not bitcoin anymore!

yes China is big and there are a lot of traders there but what you say seems to be assuming that the millions of people who are involved in bitcoin from all over the world apart from China are nothing and count to nothing!

[Doell]

I think this is just a veiled conspiracy , where maybe bitcoin will be burned , for example there is a need for 1000 bitcoin kept on burn, what is this $ 4,230,000 in fuel? from the burn better for the government to prosper the people.

[Adbitco]

I am presenting a speculative idea and a conspiracy theory and here it is: China is planning to kill the whole of the cryptocurrency market starting with the biggest of them all Bitcoin and all the rest will follow. In fact, there is a detailed plan being worked out on here and it started with the banning of all ICO projects...next is the ban of all Bitcoin exchanges and soon all citizens of China having Bitcoin will be imprisoned for 20 years (only 5 years if the person will surrender his Bitcoin to the government for possible burning).

Do you think am I hallucinating due to the "shabu I bought coming from China? Or am I only making some predictions that has more chance to come true than playing in lottery?

Please tell me what you think...and let's have some fun!

Damn man, you are really high with the "Shabu" thingy you got. You gimme some. LOL.

But seriously, though what benefits are the Chinese getting from banning bitcoin or even killing it? Chinese has been the beneficiary of bitcoin ever since they have found and love it and evident of the miners farm they have. Personally, we are not thinking the same by saying that they have this plan and why just now? And if ever this comes into reality, others will take the void that China will left and bitcoin will still continue to function normally.

I agree if China had any such plans to kill bitcoin it would have implemented them at the very beginning when the Chinese started taking a lead in bitcoin mining. Now there's no gains to China if they kill bitcoin so I do have the same question what are the benefits China may be expecting by banning bitcoin? Apparently there seems to be none so I don't think China is going to take any such stupid step to put end to bitcoin or cryptocurrency in their country.

[revinvested]

My opinion on China killing Bitcoin.. Just spreading FUD to catch more cheap coins for whales a corporations. Saw meme on twitter.. that they have already tried it 15 times..tried to do it 16th time and still worked.. people still can not learn from their mistakes and are selling cheap BTC. Need to learn that they can not make decisions after seeing first post somewhere, need to learn how to select news which are fake and which are possible real one.. time solves everything.. so panic sell is the worst thing you can do evyry time.

http://secretsofthefed.com/wp-content/uploads/2013/09/msm-in_the_news_today_some_more_shit-we_made_up.jpg

[alex_rada]

Just when they are starting to grasp the obvious financial implications of crypto? Don't think so, they are not just that stupid. Also, take it with a grain of salt any piece of news that comes from the Chinese regulators, there is a high probability that the real reason for their decisions is actually the complete opposite of what they are actually trying to make the people think.

[machinek20]

The world doesnt really care about what will china government do, if they want to shutdown bitcoin then its their authority to do so, but bitcoin and alt coins bring job opportunity and increasing the citizen economics life, if the country want to responsible is fine, the crypto currencies world still can go on without china

[krishnapramod]

I am presenting a speculative idea and a conspiracy theory and here it is: China is planning to kill the whole of the cryptocurrency market starting with the biggest of them all Bitcoin and all the rest will follow. In fact, there is a detailed plan being worked out on here and it started with the banning of all ICO projects...next is the ban of all Bitcoin exchanges and soon all citizens of China having Bitcoin will be imprisoned for 20 years (only 5 years if the person will surrender his Bitcoin to the government for possible burning).

Do you think am I hallucinating due to the "shabu I bought coming from China? Or am I only making some predictions that has more chance to come true than playing in lottery?

Please tell me what you think...and let's have some fun!

Not a conspiracy theory, it is quite evident from all the contradictory statements PBOC had made regarding bitcoin since 2013 that they are trying to manipulate bitcoins price. They know they have a global advantage when bitcoin is concerned and they are exploiting/manipulating it. BTC/CNY, Yuan still stays in China, good for the government, miner dominance, good for the government. I don't think the Chinese government would benefit in anyway by altogether banning bitcoin. They would just end up losing their global advantage.

China ban on bitcoin would have a short-term effect on bitcoin, but it would recover as always. There is Japan, South Korea, US, Australia, Russia, India. Even Russia and Japan are planning to launch their own mining operations by next year.

Banning ICOs is entirely different from banning bitcoin so I really don't think the Chinese government would take such a drastic step.

[Rahar02]

Do you think am I hallucinating due to the "shabu I bought coming from China? Or am I only making some predictions that has more chance to come true than playing in lottery?

Yes, you're hallucinating. China Government banned ICO because some reasonable reasons to protect their citizens from financial scammers or being deceived. Bitcoin is a digital currency, govs can't just ban and seize it without any reason, even though cash could be used for illegal transactions. Bitcoin has become a profitable resource in China, there are many bitcoiners and miners, the biggest mining pools in the world, in that case, govs get taxes from their activities.