Why does China hate Bitcoin?

[tambok]

The chinese government is actively cracking down on anything, that will allow its wealthy citizens to get wealth out of the country. Bitcoin, is obviously a great tool for this, and is therefore an enemy of the communist party.

It is not the Chinese that hates bitcoin it is the Chinese government, they are very greedy they don't want bitcoin because they cannot control it and since they cannot control it they will not know if how much money is their Chinese people earning to it, their people  can avoid to pay taxes because of the anonymity of users and they really hate it.

[diskodasa]

I think China gov doesn't hate bitcoin. They ban it because they can't control it. that's all

[Sahabat_]

I think China gov doesn't hate bitcoin. They ban it because they can't control it. that's all

that's right in my opinion as well, the Chinese government has not been able to control how bitcoins work.
frankly they are concerned with what is there for example they forbid the existence of the ICO is due to the many projects behind it is just a scam

[supto005]

Well It's true China ban Bitcoin but that's mean's they hate bitcoin. The people of China love bitcoin as well as cryptocurrencies. There are some reason that's why they ban Bitcoin Not for they hate it.

[onpages]

Well It's true China ban Bitcoin but that's mean's they hate bitcoin. The people of China love bitcoin as well as cryptocurrencies. There are some reason that's why they ban Bitcoin Not for they hate it.

Perhaps the reason is to be the way out of some of the scams that occur that use the Bitcoin system.
But I'm sure they do not completely hate Bitcoin they are just limiting. because we know most Bitcoin users are china.

[Beicin]

Its not that China hates bitcoin... its the fact that they need to control every single thing going on inside their borders (and some outside too lol), and bitcoin is a hard thing to control. You can bet that china is gonna come up with a solution to this rather soon, maybe a blockchain of their own - they wont miss out on this huge technology.

[Lagduf]

Well It's true China ban Bitcoin but that's mean's they hate bitcoin. The people of China love bitcoin as well as cryptocurrencies. There are some reason that's why they ban Bitcoin Not for they hate it.

The banned was temporary by pboc and there is a possibility about the banned should be removed from there but that depends on the regulators, as far as i can understand abou the china are trying to regulate the crypto in there. There was a notice from some people about that.

[Indrawan77]

The government hates everything that they can't control or supervised so the government hate decentralized things, I think in the future the government will try to regulate bitcoin, for now the government still doing research and observation to see the advantage of crypto currencies, I think in the future there will be a lot of controversial decision by the government

[peter0425]

Well It's true China ban Bitcoin but that's mean's they hate bitcoin. The people of China love bitcoin as well as cryptocurrencies. There are some reason that's why they ban Bitcoin Not for they hate it.

If they totally ban bitcoin then it's safe to conclude that they they hate it, isn't it?

The people of China loves bitcoin, but what can you do if the government doesn't want it in their backyard? So banning bitcoin would only hurt their citizens, but they doesn't care because they will always do what they think is right for their country. Unfortunately many of them have relied on bitcoin too much like in mining, who I assume have a lot of workers monitoring it 24x7 and an outright ban of everything bitcoin related would really affect those workers in the end.

[Kemarit]

Well It's true China ban Bitcoin but that's mean's they hate bitcoin. The people of China love bitcoin as well as cryptocurrencies. There are some reason that's why they ban Bitcoin Not for they hate it.

The banned was temporary by pboc and there is a possibility about the banned should be removed from there but that depends on the regulators, as far as i can understand abou the china are trying to regulate the crypto in there. There was a notice from some people about that.

That's what we heard, we just hope that is really temporary otherwise Chinese will say bye bye to the precious bitcoin that they all love from the very beginning. They have regulated in place already in their local exchanges. If you remember early this year they have suspended them because of fake trading volume scheme, but they allow them to be back in business with tighter regulations. So I don't know what kind of regulations are still needed. They really want to control everything that is going in and out of their country and if bitcoin is decentralized then how can they do that? Solution, total ban of bitcoin activity. I'm assuming that bitcoin mining will be next as well.

[pooya87]

~
Bitcoin is the mortal enemy of 'tracking'.  Therefore China is going to continue to assault Bitcoin from every angle.  You can be sure of that.

not exactly. in fact everyone these days knows well enough that bitcoin is traceable! the "bitcoin is anonymous" false information is long dead now. apart from some misinformed people nobody else thinks like that.
in fact it was the Russian central bank that said once that since bitcoin is traceable we are thinking about legalizing it.

[TheWalkingCoin]

China doesn't hate bitcoins many people there used to them, is the goverment who are agains't decentralized currencys.

[Armstand]

~
Bitcoin is the mortal enemy of 'tracking'.  Therefore China is going to continue to assault Bitcoin from every angle.  You can be sure of that.

not exactly. in fact everyone these days knows well enough that bitcoin is traceable! the "bitcoin is anonymous" false information is long dead now. apart from some misinformed people nobody else thinks like that.
in fact it was the Russian central bank that said once that since bitcoin is traceable we are thinking about legalizing it.

Since many scammers sacttered around tge forum as well as in online businesses, having an identity is quite a mass now, it is needed especially in investing in btc since its a guarantee of existence at some point.

[Thndr]

many gov dont want their citizen use bitcoin. because they can't control tax, money laudering, drug, weapon...

[chip211]

bitcoin can't know destination to it will cause the inflation, bad guys can launder their money illegally, and the government can not control it.

[hardiyanto]

I think china wants to make altcoin alone so that their altcoin is successful then they embroider bitcoin so their coins can become a global commodity later

[fitriyanti]

Chinese do not like to use products from outside the country meraka.mereka prefer to imitate the same product and wear it. so also with bitcoin. they will mimic the pattern of bitcoin and wear and sell it

[mozillaspez]

The chinese government is actively cracking down on anything, that will allow its wealthy citizens to get wealth out of the country. Bitcoin, is obviously a great tool for this, and is therefore an enemy of the communist party.

Actually they are not going to crack down everything because we know that bitcoin is decentralized if they break and crack everything but they cannot crack bitcoin because bitcoin is decentralized...

[alyssa85]

Well It's true China ban Bitcoin but that's mean's they hate bitcoin. The people of China love bitcoin as well as cryptocurrencies. There are some reason that's why they ban Bitcoin Not for they hate it.

If they totally ban bitcoin then it's safe to conclude that they they hate it, isn't it?

The people of China loves bitcoin, but what can you do if the government doesn't want it in their backyard? So banning bitcoin would only hurt their citizens, but they doesn't care because they will always do what they think is right for their country. Unfortunately many of them have relied on bitcoin too much like in mining, who I assume have a lot of workers monitoring it 24x7 and an outright ban of everything bitcoin related would really affect those workers in the end.

They can't do squat because they live in a system designed around autocracy. And they keep making excuses for keeping the autocracy too - people truly get the governments they deserve.

[Odora]

china may hate bitcoin because there is a relationship with Japan, we know that during these 2 countries there is a cold war ..