China Will Kill Bitcoin: A Conspiracy Theory

[audaciousbeing]

Even though the effect of the decisions by the Chinese government is reaching an unprecedented level and the last time we went as low as this in recent time is prior August 1 but right now its facing us again.

The way bitcoin is structured, I don't think Chinese government can successfully kill it and its no other reason that when group of people resolve to go a particular way come what may, they can only be put down but not defeated and that is exactly what will happen in the case of bitcoin. Bitcoin has grown beyond nationalities or even continent and a whole lot of us have resolved to make this a success.

[Jake052478]

this is because Bitcoin Exchanges Lack Legal Foundation, China Internet Finance Association Says... this is the reason why China has junk the use of bitcoins in their country.  They are basically afraid that they will lose their economic power eventually. 

[Finestream]

this is because Bitcoin Exchanges Lack Legal Foundation, China Internet Finance Association Says... this is the reason why China has junk the use of bitcoins in their country.  They are basically afraid that they will lose their economic power eventually. 

On the other hand, they should be looking for the economic success it would bring, they surrendered in finding ways to regulate bitcoin and that will lead them incompetent, they cannot stop the changes and whatever they do some countries will continue the development as decentralization is the new system that would be beneficial to the people.

[arseaboy]

this is because Bitcoin Exchanges Lack Legal Foundation, China Internet Finance Association Says... this is the reason why China has junk the use of bitcoins in their country.  They are basically afraid that they will lose their economic power eventually. 

On the other hand, they should be looking for the economic success it would bring, they surrendered in finding ways to regulate bitcoin and that will lead them incompetent, they cannot stop the changes and whatever they do some countries will continue the development as decentralization is the new system that would be beneficial to the people.

china might just playing for their benefits and i think they are wiser than people who's thinking that they will really stop crypto, they got a huge numbers of miners from their country and they build most of the mining hardware so for sure they wont stop that due to the fact that they are gaining out from this
system they just wanted to make sure that they are controlling crypto from their jurisdictions.

[michellee]

this is because Bitcoin Exchanges Lack Legal Foundation, China Internet Finance Association Says... this is the reason why China has junk the use of bitcoins in their country.  They are basically afraid that they will lose their economic power eventually. 

On the other hand, they should be looking for the economic success it would bring, they surrendered in finding ways to regulate bitcoin and that will lead them incompetent, they cannot stop the changes and whatever they do some countries will continue the development as decentralization is the new system that would be beneficial to the people.

china might just playing for their benefits and i think they are wiser than people who's thinking that they will really stop crypto, they got a huge numbers of miners from their country and they build most of the mining hardware so for sure they wont stop that due to the fact that they are gaining out from this
system they just wanted to make sure that they are controlling crypto from their jurisdictions.

i think china become success to make peoples panic and they already selling their bitcoin and now big whales is taking the benefits because bitcoin price is down so they can buy in a big amount. for the first time I heard that china will banning bitcoin, I wonder if its true because like above me said, china got a huge numbers  of miners and I don't think that the miners will stay calm with the news.

[nightways]

Even though the effect of the decisions by the Chinese government is reaching an unprecedented level and the last time we went as low as this in recent time is prior August 1 but right now its facing us again.

The way bitcoin is structured, I don't think Chinese government can successfully kill it and its no other reason that when group of people resolve to go a particular way come what may, they can only be put down but not defeated and that is exactly what will happen in the case of bitcoin. Bitcoin has grown beyond nationalities or even continent and a whole lot of us have resolved to make this a success.

This is not the sensible decision by Chinese to ban bitcoin as world is looking forward to accept the values and trades of bit coin and they are banning it and this will left them behind from the progressing as many of shopping will be done by bitcoins in future and they are not accepting it will give them loss and those who believe in bitcoin will not be effected by this decision of Chinese and will invest more to gain more.

[xSkylarx]

China will not kill bitcoin because bitcoin is a really strong cryptocurrency in the world and china is just a piece of cake for bitcoin to let it destroy bitcoin because bitcoin done a lot of things and it is already been through a lot of problems and none of that will be able to kill bitcoin.

[jets567]

Nope, Everyone who will be believing this FUD will be considered as total Fool. Bitcoin Climbs again without help of any chinese. It's only a portion of the market and lots of lots of big investor are not yet coming in into cryptos meaning there's more for btc. RIP china BTC don't need you to climb it's heights.

[Wyse]

I'd say it's impossible for any government to "kill" Bitcoin; sure, they can ban it or make it illegal in their jurisdiction thus making the exchange of fiat to btc and vice versa quite hard, but how are they going to go after the people who are making transactions or holding it in their wallets? It's kind of like torrenting imo, it can't really be killed as long as it's decentralized.

[Gozie51]

I would say China wants to make a statement, to get to be associated with bitcoin and its properties. I believe the banning would either bring moves to monitor or trying to control.

[Chachacoin17]

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!

Wooaaahh.!..You really had a bad hallucination, mate! That's kinda creative but very dark. I don't think China will do that. They just banned ICOs becasr of scammers. It's very hard to trace bitcoin transactions because of its anonimosity. How can they tract all the people who used bitcoin? Bitcoin is unstoppable!:)

[mrayazgul]

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!

Well why should china burn the coins ?  There should be a services who accept bitcoins as donation. But i am afraid with tax. If government start accepting bitcoins they can applied highly tax for sure. So my answer is yes bitcoin can help community by donation. The amount which government gather in form of bitcoins from citizens should be donated to help the poor.

[patt0]

I think you are going to far. China like to keep an eye on their money, and bitcoin doesn't help them in that task. They will fight it if they can't control it, but I don't think it will ever go that far, and truly don't believe that even if they ban bitcoin, the other countries will follow. All countries will feel the need to regulate bitcoin, and that's about it.

[chickenado]

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!

Well why should china burn the coins ?  There should be a services who accept bitcoins as donation. But i am afraid with tax. If government start accepting bitcoins they can applied highly tax for sure. So my answer is yes bitcoin can help community by donation. The amount which government gather in form of bitcoins from citizens should be donated to help the poor.

Well, that sounds better if government will donate the money to the poor community instead of burning it literally. I don't think it's good that it will be legalized in the country and tax implementations might be abused. I may lead to over taxation and corruption will really take place for that in the future.

[Colt22]

I would say China wants to make a statement, to get to be associated with bitcoin and its properties. I believe the banning would either bring moves to monitor or trying to control.

China is not against bitcoins or any other digital currency. There was a time when eighty percent of the bitcoin trading was done in that land. Whatever China has been doing is just for the safety of investors and its local currency yawn. Moreover, still some people in China will be dealing in bitcoins and even its cut off from this digital world, bitcoins won't die.

[Ngewex Yuk]

I think not to worry about this, let alone and we enjoy the profit from rising prices, because bitcoin users continue to increase despite the many negative issues and banned bitcoin countries.

[bubblebit]

It is just a theory, we might not agree or agree with it. He got a valid point but it is just so negative thinking on his mind that triggers this idea. Some had said before don't use drugs it will kill you. Not bitcoin be killed on that country because it will helped them than they suffer in it. I hope in the end they will consider what is best for they're countrymen than thinking about profits for its government.

[Shinpako09]

China can't kill btc, what is one country compared to many of us. Okay, let's say they have a big part on btc but that isn't enough to take down btc. Aside from that, there are country like Japan who are currently pushing into btc. Maybe they can affect the price movement but they can't totally kill btc because it has been widely spread.

[Kevin13]

I think they will not do that one because in fact why is they called the number 1 bitcoin miners in the world if they themselves will be the one to destroy, kill or any conspiracy that throw on them about bitcoin. That would be an absurd way on China and it would be a worst case on themselves also if that happens.

[krisnt80]

Ico were banned not forever, they are making some rules to allow people to invest and dont allow the ilegal money to enter into them, that was something that were happenening. Exchanges were working without a proper license soo again the government is acting to regulate Ico and exchanges licenses, soo even knowing they have some plans to make their crypto they cant kill bitcoin, in fact the market reacted already and now bitcoin is back to  4000 dollars again, China does have big players and big investors soo it did affected a bit crypto world.