WHY IS CHINA ACTING THIS WAY

[enterprevic]

Actually the way china has been acting for these past months has been annoying, they have been interfering with the affairs of the market and causing lot of issues for everyone. I need to know why they are acting like this

[nikolaich]

They don`t know what to do with all this crypto. Maybe they are trying to start regulating this sphere. It`s an inevitable process.

[TK14]

A centralized country cannot tolerate a decentralized thing, that's it

[ayesha201009]

I guess their move are just dictated by the possibility to speculate in the future. In the past chinese exchanges experienced this issue, but in the end all went fine.
Just wait, chinese are the best btc user/miners they will be for a long time.

[CoinSpeculator]

because they are manuplating with government hand. they are doing this everyyear and this is last one. they won't make this speculation anymore.

[AleSergio]

Still blockchain and bitcoin is a threat to banking system a specialy in China and who wants to lose their money? That is the first reason and second can be just some speculations and nothing more.

[DarkbLue]

Actually the way china has been acting for these past months has been annoying, they have been interfering with the affairs of the market and causing lot of issues for everyone. I need to know why they are acting like this

They have to improve their monetary policy. 75% of their wealth left the country in only a few years. To that effect, China implemented strict capital controls. A lot of rich Chinese are buying real estate in North America. With their government's tight currency control policy, they are not able to move enough money abroad to purchase those real estate. Bitcoin exchanges made it possible for them. It made those currency control policy useless. China doesn't dislike bitcoin, it's because this was one easy way for people to get money out of their country and into a mansion in Usa, Canada, Australia etc.

[garytheasshole]

They got tiny dicks, so they have to compensate in such dickish manner.

[qiman]

Actually the way china has been acting for these past months has been annoying, they have been interfering with the affairs of the market and causing lot of issues for everyone. I need to know why they are acting like this

They have to improve their monetary policy. 75% of their wealth left the country in only a few years. To that effect, China implemented strict capital controls. A lot of rich Chinese are buying real estate in North America. With their government's tight currency control policy, they are not able to move enough money abroad to purchase those real estate. Bitcoin exchanges made it possible for them. It made those currency control policy useless. China doesn't dislike bitcoin, it's because this was one easy way for people to get money out of their country and into a mansion in Usa, Canada, Australia etc.

Many Chinese here in Cyprus getting Cyprus Citizenship and buying houses to become EU citizens. There are millions of rich Chinese who want to have more ways to spend their money and want to live outside of China. They are trying to stop the flow of capital going outside China. As long as Chinese arr mining bitcoin and dumping on the rest of the world they do not mind that but if Chinese are spending money in foreign ICOS they do not like that. Also within China many scams are coming so they have to stop that. I think once the PBOC can regulate Cryptos then we may see the exchanges come back.

[S A KHAIR]

The main reason is that Bitcoin is decentralized.
There is a lot of investment from their country but the government does not get any tax.

[dothebeats]

With a large portion of their investors throwing money at bitcoin, they have to divert the money into some of their own ventures. Rich businessmen find bitcoin as one sort of escape also to their strict capital controls PLUS making profit in doing so, hence China chasing out these exchanges to ensure that the money will only circulate around China and nowhere else.

It's kind of ironic to think that the US is indebted to China with trillions of dollars yet China itself can't stabilize its own monetary problems.

[BCwinning]

1 word
communists
why are we doing business with them is the real question.

[garytheasshole]

1 word
communists
why are we doing business with them is the real question.

Slave labor, why else.

[alyssa85]

Actually the way china has been acting for these past months has been annoying, they have been interfering with the affairs of the market and causing lot of issues for everyone. I need to know why they are acting like this

They have to improve their monetary policy. 75% of their wealth left the country in only a few years. To that effect, China implemented strict capital controls. A lot of rich Chinese are buying real estate in North America. With their government's tight currency control policy, they are not able to move enough money abroad to purchase those real estate. Bitcoin exchanges made it possible for them. It made those currency control policy useless. China doesn't dislike bitcoin, it's because this was one easy way for people to get money out of their country and into a mansion in Usa, Canada, Australia etc.

Many Chinese here in Cyprus getting Cyprus Citizenship and buying houses to become EU citizens. There are millions of rich Chinese who want to have more ways to spend their money and want to live outside of China. They are trying to stop the flow of capital going outside China. As long as Chinese arr mining bitcoin and dumping on the rest of the world they do not mind that but if Chinese are spending money in foreign ICOS they do not like that. Also within China many scams are coming so they have to stop that. I think once the PBOC can regulate Cryptos then we may see the exchanges come back.

The current Chinese president is very authoritarian (more so than the last president). He's been cracking down on corruption, though strangely it seems to affect mainly his opponents, and I think a bunch of rich Chinese are just trying to get out. The Chinese govt is responding by trying to close off all their avenues.

[Zeeks]

Yes cheap labor why else.

Hope bitcoin won't fall victim to the regulations.

[Rinaze]

They got tiny dicks, so they have to compensate in such dickish manner.

That's very gentleman of you to make that comment!

[sakkosekk]

I think that is just the market price of the Chinese financiers
They rely on news, media to sell off, push prices down
When the market is chaotic
They will buy more bargain,
And pump them

[OneNattyLitecoin]

To purchase as much state controlled Bitcoin as possible. They'll be set when the American dollar crashes.

[VeeraS]

I guess we all dont know for sure about the China ban. but china says on the news online. that many ico are involved in the crime of fraud. that's one of china forbidding ico and bitcoin. and we do not know what next china plan.

[HotCold]

China wants a chunk of the pie too. Crypto essentially allowed companies to bypass so many regulations and the government got nothing in return. All of this is to be expected and I'm sure more nations will introduce regulations on crypto in the years to follow. With China, I think they will likely restore the crypto market once they figure out how to do so profitably.