Why does China hate Bitcoin?

[Sahabat_]

The rumors said china hates bitcoin.. i think china is into monitoring their money or profit accurately like in their transaction they dont want their money to convert in other currency.. so thats why they dont want bitcoin, all transaction in bit coin is so easy and untraceable you can use bitcoin anonymously..

now the Chinese state began to close the virtual currency exchange places bitcoin there.
I do not know how the reaction of his society might be very interesting to wait for how the future again.

[nevergone]

This is pretty much the whole story right here...

" NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” "

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.

i can hardly agree with you, although China ban ico and all exchange, it doesn't mean China take a negative attitude towards bitcoin, in fact, China pays high attention to the blockchain techonology, bitcoin is the representive of blockchain and China never show the willing to ban btc

[bitcoinvestor]

it seems to me that this question rests on the ubiquitous control of its citizens. do not forget that the usual Internet for citizens, is protected by the "wall"

Bitoin will be threat to China Govt. When people become rich , they will be more educated, when they educated, the comunist party will loose the followers, more educated people tend to have open and liberal minded than communists. That's why CHina doesn't like ICOs and bitcoin.

[Bhbtc]

China just hates buying in high.

[Cherylstar86]

The rumors said china hates bitcoin.. i think china is into monitoring their money or profit accurately like in their transaction they dont want their money to convert in other currency.. so thats why they dont want bitcoin, all transaction in bit coin is so easy and untraceable you can use bitcoin anonymously..

now the Chinese state began to close the virtual currency exchange places bitcoin there.
I do not know how the reaction of his society might be very interesting to wait for how the future again.

Those china people doesn't really hated bitcoin and for my observations here I believed that those people were just using bitcoin to grow their money as well. By the time their bitcoin grows it's amount bigger they immediately dumped their assets, along with the timing which there's also speculations that bitcoin was banned. Actually it's not the scenario, but those biggest china investors really did that because they wanted the btc price to lower down due to it's expensive price, so they had the chances now to invest for another holdings.

[Sahabat_]

The rumors said china hates bitcoin.. i think china is into monitoring their money or profit accurately like in their transaction they dont want their money to convert in other currency.. so thats why they dont want bitcoin, all transaction in bit coin is so easy and untraceable you can use bitcoin anonymously..

now the Chinese state began to close the virtual currency exchange places bitcoin there.
I do not know how the reaction of his society might be very interesting to wait for how the future again.

Those china people doesn't really hated bitcoin and for my observations here I believed that those people were just using bitcoin to grow their money as well. By the time their bitcoin grows it's amount bigger they immediately dumped their assets, along with the timing which there's also speculations that bitcoin was banned. Actually it's not the scenario, but those biggest china investors really did that because they wanted the btc price to lower down due to it's expensive price, so they had the chances now to invest for another holdings.

maybe that's what they want because the Chinese people can play bitcoin prices.
before the biggest daily transactions are always held by China so with that they can lower the price of bitcoin.
and after going down they buy bitcoin, with a ban already made how they can still do activities about bitcoin.

[rifatfor]

I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity. 

[inoes]

those who hate bitcoin are those who do not know what exactly bitcoin is
and certainly they have not tried using bitcoin

china hate bitcoin , bitcoin just smile

[master2#]

Its is a really good sign when china hate something

[majdoso]

China is an industrial country. Bitcoin will attract lot of people who can make the same income with less effort. It will have bad consequences on their economy that's why they baned bitcoin.

[ramsdaj28]

This is pretty much the whole story right here...

" NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” "

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.

Because bitcoin is tax-free (except mining fee). The government can not get taxes from bitcoin users. I think that is the reason why they hate btc. Another thing is that China is known as one of the biggest player in economy and business in the world. Maybe, they are planning to create their own cryptocurrency/token and want to compete bitcoin.

[robbietobby]

I think China most probably wanted to discipline children or teenager which involves in transacting and generating income that termed "illegal" in their own belief and culture. Yet, I think if ICO will still propagate the world then its reliable to be back soon in their own homeland.

[DoublerHunter]

China hate bitcoin because it is starting to revolutionize the country and a lot of people are getting into bitcoin and they realized that bitcoin is getting better and better everyday and that is why they make a move to stop that and regulate bitcoin and that is by banning some exchanges and shutting them down to slow the process of getting stronger of bitcoin.

[herdiansyahdanang]

I think China most probably wanted to discipline children or teenager which involves in transacting and generating income that termed "illegal" in their own belief and culture. Yet, I think if ICO will still propagate the world then its reliable to be back soon in their own homeland.

just a reason if they want to discipline children and teenager that's not the right if they hate bitcoin money for the future,
if all countries have started using bitcoin technology and how are they taught not to use bitcoin? yes they will become disciplined losers

[cjinny]

because bitcoin has an anonymous, decentralized nature. Bitcoin is also hated by China because bitcoin can not be regulated by any country. Chinese hates bitcoin because the corruptors there launder their money using bitcoin.

[Lorilikes]

They hate it ?  I thought they were just fearful of it because it is almighty and looms ominously over their riches like a threat.  They are trying to figure how to control it or at least monitor the in and out of capital flow, before they will accept it.

Might be a while.

[Bacotan Bae]

I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity. 

I do not think china hate cryptocurrency can be a real money threat. we all know that cryptocurrency is decentralized, of course the Chinese government hopes that they can take full control.

[Sahabat_]

I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity. 

I do not think china hate cryptocurrency can be a real money threat. we all know that cryptocurrency is decentralized, of course the Chinese government hopes that they can take full control.

I think the Chinese government does not hate cryptocurrency but they have a reason to ban it.
perhaps they are concerned with the abuse of cryptocurrency as the frequent misuse of ICO scam.
which then resulted in disadvantage to the investors and also the other party.

[ethereumhunter]

I think China doesn't hate Bitcoin. China hate the decentralized process. there is no way to trace the scammers identity. 

I do not think china hate cryptocurrency can be a real money threat. we all know that cryptocurrency is decentralized, of course the Chinese government hopes that they can take full control.

I think the Chinese government does not hate cryptocurrency but they have a reason to ban it.
perhaps they are concerned with the abuse of cryptocurrency as the frequent misuse of ICO scam.
which then resulted in disadvantage to the investors and also the other party.

and i think maybe they are afraid when one or several ico scamming their people because the ico is not always guarantee to the investor can make profit in the end. i think the government can make some regulation to control the ico so the ico can not scamming people although the possibility is always there. with the biggest mining company, i am not sure that chinese government will continue their plan to ban bitcoin and the ico. but i am curious with what happen later and i hope the other country will not affected.

[Snaic]

Now China is introducing tough measures against bitcoin and other crypto-currencies. This is a good way to see if a separate, large country by territory and population, the recent leader in bitcoin mining, can cope with the crypto currency and prohibit or severely restrict its circulation on its territory. We will have a good experience. It is already clear that a single country will not be able to significantly affect the crypto currency, and the experiment that is currently conducted by China is quite interesting from the point of view of the vitality of the crypto currency. If you look at this issue more broadly, it is that the individual country can actively resist the circulation of the crypto currency and what will come of it. After all, Chinese citizens will also look for ways to bypass government bans and restrictions. For fans of crypto currency, this will be a good experience. So, let's look at the example of China who wins who