China vs BTC?

[harmunian]

Can someone explain to me why china is trying to ban bitcoin.?

Thanks for your replies.

[1713865000]

1713865000

[Md Kayum Uddin]

I also know about why China banned bitcoin??

[MostHigh]

Can someone explain to me why china is trying to ban bitcoin.?

So far China has banned ICOs that is initial coin offering. China has not ban bitcoin even if that is the plan the decentralized nature of btc makes it highly impossible to ban. Remember its a virtual commodity

[Karpeles]

They are not, or at least they claim they don't.

They just want to regulate it and avoid Bitcoin to be used in illegal activities, so they create news rules and demand news licenses.

Maybe they want to make impossible buy and sell bitcoins by making impossible to get all the licenses and follow all the rules, but there is no way to know right now.

[mdripon]

Can someone explain to me why china is trying to ban bitcoin.?

China does bitcoin and alternative coin banned. but bitcoin not use only for china. so bitcain have and strongly have. you have to understand It is virtual commodity.

[Pursuer]

Can someone explain to me why china is trying to ban bitcoin.?

it is impossible to explain something that is not happening. it is like asking "can someone explain why sun comes out of north"

what China did was close down illegal businesses working in form of exchanges that were also laundering money and did not have any kind of license for operating.

[Victorycoin]

Can someone explain to me why china is trying to ban bitcoin.?

No they are not trying to ban Bitcoin or altcoins, rather they are working at centralizing the activities of exchanges in China, so that they could control and manipulate Bitcoin and other coins as they do with Yuan. That is however going to be their undoing because Bitcoin and cryptocurrency in general is beyond China. Interestingly, Japan and South Korea have positioned themselves to fill any void that would be created by China's shortsightedness.

[kevoh]

I will not call what is happening a ban on Bitcoin. What the Chinese government is doing is to shutdown ICOs due to the increasing number of Chinese wanting to participate in all sorts of ICOs in order to take a sustainable approach that will prevent possible losses by investors in ICOs. So the government is actually trying to regulate their crypto economy, this is the news that is affecting Bitcoin as there is uncertainty with the so called regulation.

[valentin68]

I do not think that China is trying to ban bitcoin. China is the oldest country in the world, I guess it is oldest than the city of Summer, and it has the most wise and the most hard working people in this world. Chinese people are the best merchants that ever existed, and bitcoin is in their favour. Bitcoin is something that it was invented to facilitate buying and selling goods. Until bitcoin there was PayPal (and other epayments), now there is a simpler way to pay for goods: bitcoin.
 By having the biggest mining companies in the world China has demonstrated that understands the power and the value of the bitcoin in this world.

  By having all this knowledge would you think now that China is trying to ban bitcoin, that China is trying to sell less and earn less? What would you do if you were Chinese? Wouldn't you protect your people and their earnings, and their wealth? The China ICO ban was very good, all these ICO are Indian inventions, haven't you been tricked by the Indians at least once?
  
 This exchange ban is also a very good thing. Haven't you tried to exchange money and being stolen of your hard worked money at least once? China is trying to regulate these exchanges, and in my opinion this is very good.

 I'm from an Eastern European country. I grew up in communism. When I was in school I've received all the books from which I was learning for free. School was free. And guess what: when I went to US to continue my education I had to buy my books. The price of one book was 90 USD and the tuition was bigger than 10 000 USD/year. I do not say that Communism is better than Capitalism, but in some aspects it really is.

 China is trying to protect its people and this is a very good thing. I do not believe that China will ban the bitcoin because it works in their favour.

[bitcub]

China has a great fear of crashing its fiat currency as Bitcoin is so familiar with their country. Other beliefs, China wants to dump their bitcoin to enable their whales and high profile people buy Bitcoin for only $3000

Can someone explain to me why china is trying to ban bitcoin.?

[kdiag]

Is the BTC still expected to fall?

[RawDog]

Can someone explain to me why china is trying to ban bitcoin.?

China enslaves her remarkable labor force with many powerful monetary tools such as currency devaluation.  This means the people in Chinese government can capture huge wealth while the common chinese worker makes products that are competitively priced all over the world.  Bitcoin allows rich factory owners to to keep the money instead of giving it to the government in a maneuver called 'capital flight'.

Don't worry.  This is GOOD for bitcoin.  Not good for the short term price of Bitcoin, but good for Bitcoin.  Bitcoin was created for this very reason.  Bitcoin was created to prevent governments from controlling (just a nice way of saying 'stealing') other people's money.  Bitcoin will really shine when it proves that a powerful government like China can't prevent people from exchanging value as peer to peer.  

The whole fucking reason we have Bitcoin - is now being put to a real test for the first time.  This is totally perfect.  This is Bitcoin V. China.  We are about to find out whether Bitcoin can be controlled by a governement or rather if Bitcoin is actually successful in its primary mission.  

Who could be upset by that?  It is the greatest thing that could ever happen to Bitcoin.  I hope the fight gets fierce and nasty.  I hope it goes hard and heavy to the wire.  I want the test to be complete.  If China backs up and takes a soft path, we will never know the true strength and nature of Bitcoin.  The test is on!  I hope it is a good one.

Is the BTC still expected to fall?

Who cares?  Only short thinking profit mongers give a damn about that.  Why would you be interested in a few bucks this week rather than the entire reason for being of Bitcoin?  How fucking dumb can you possibly be?

[Manuj]

Can someone explain to me why china is trying to ban bitcoin.?

Try to do some more research about this latest news. China is not banning bitcoin, nor does the country ban altcoins for that matter. China is banning ICOs. Perhaps some regulations will take place about ICOs. Crypto exchanges are also being treated with very strict measures, even closing some.

[megynacuna]

Can someone explain to me why china is trying to ban bitcoin.?

Try to do some more research about this latest news. China is not banning bitcoin, nor does the country ban altcoins for that matter. China is banning ICOs. Perhaps some regulations will take place about ICOs. Crypto exchanges are also being treated with very strict measures, even closing some.

Yes, some of the exchanges are perpetuating money laundering and the government wants to get strict on the ICO's and if possible the exchanges with whom these illegal moneys are converted into the Chinese yuan and vice versa.

[RawDog]

China is not banning bitcoin.

Wrong.  China is banning Bitcoin.  They are launching a full war on Bitcoin.  Stopping the ICOs and closing the exchanges is in effect 'banning Bitcoin'.  

[Victorycoin]

Can someone explain to me why china is trying to ban bitcoin.?

Try to do some more research about this latest news. China is not banning bitcoin, nor does the country ban altcoins for that matter. China is banning ICOs. Perhaps some regulations will take place about ICOs. Crypto exchanges are also being treated with very strict measures, even closing some.

Yes, some of the exchanges are perpetuating money laundering and the government wants to get strict on the ICO's and if possible the exchanges with whom these illegal moneys are converted into the Chinese yuan and vice versa.

You're sounding more like the spokes person for China, so where are thou evidence to support all those claims? Are you aware that China also attempted to ban Bitcoin way back 2013, which resulted in taking the wind out of Bitcoin's sail back then and now in 2017, they are still lost what to do with Bitcoin
https://www.theverge.com/2013/12/5/5177550/bitcoin-banned-from-chinese-banks-amid-fears-of-laundering

[aoluain]

Can someone explain to me why china is trying to ban bitcoin.?

Try to do some more research about this latest news. China is not banning bitcoin, nor does the country ban altcoins for that matter. China is banning ICOs. Perhaps some regulations will take place about ICOs. Crypto exchanges are also being treated with very strict measures, even closing some.

Yes, some of the exchanges are perpetuating money laundering and the government wants to get strict on the ICO's and if possible the exchanges with whom these illegal moneys are converted into the Chinese yuan and vice versa.

Yes this is what I believe like many others. China is trying to clampdown
on the money laundering and general scamming with OCO's and the exchanges
which facilitate this which is mostly all of them whether they are aware
of a particular scam ICO or not.

The exchanges will have to apply for a licence.

https://twitter.com/TradingWhaIe/status/908607956010389506

[emuLOAD]

China is not banning bitcoin.

Wrong.  China is banning Bitcoin.  They are launching a full war on Bitcoin.  Stopping the ICOs and closing the exchanges is in effect 'banning Bitcoin'.  

not even close

[Prince8]

china is not banning btc ! will it ban in the future ? who knows..

but china is not banning or trying to ban bitcoin now

[Yakamoto]

Can someone explain to me why china is trying to ban bitcoin.?

Thanks for your replies.

I don't think that they're trying to ban bitcoin at this point, seems like they want to stop ICOs, which I am essentially in agreement with in the context of how most ICOs end up turning out. They typically just act as funding for the devs and then as a speculative token which is forgotten about in a week for the coin, so most of them shouldn't really exist to be honest. I'm fine with releasing a coin on an exchange or whatever, but pre-selling tokens is stupid.