Why does China hate Bitcoin?

[dasdo]

You do not correctly interpret this article. This is the market and what people write and say on television is not true and true. China, like other countries, fights for primacy and applies all possible methods. Soon you will see how all the prohibitions of China will be abolished. The reason for the prohibitions was in another. In that that someone from large investors has bought more cheaply, or in creation by China of the new кpиптoaлюты, analogue Usdt.

[sheamus10]

china does not hate bitcoin. but bitcoin has become a threat to the country of china. yes that's the case, china is the biggest producer in asia about pirated goods. duplicate brands. and china wants to make its own crypto. that's what I think.

but not everything about China is true, we need to be more familiar with what China really wants,
whether about shifting their currency or they want to make their own currency cryptocurrency or the other

Here i am not agree fully with you but still at some extent you are right .
All the products that produces in China which are not perfect are only prepare by the people who have not job but have compulsation of having any type of job to make daily earnings .
Here the condition is also same , due to big population in china , people moving toward the cryptocurrency and thats why the big part ot cryptocurrency depends upon the china , but here government is going to take some action which is not in favour of the bitcoiners of china as well for us also because of the the down in the market of bitcoin .

it is true that Chinese bitcoiners users have a big impact on bitcoin transactions in the world
but what power is now the biggest transaction transactions have switched to another country and maybe Japan will replace it

Japan is indeed one of the countries that will likely later replace the country with the largest global market of China.
but do not forget, now there are european countries that have started to learn and develop bitcoin that is russia.

[the rise]

You do not correctly interpret this article. This is the market and what people write and say on television is not true and true. China, like other countries, fights for primacy and applies all possible methods. Soon you will see how all the prohibitions of China will be abolished. The reason for the prohibitions was in another. In that that someone from large investors has bought more cheaply, or in creation by China of the new кpиптoaлюты, analogue Usdt.

A lot of news is deviant in the media, but the banning ico issue is a fact because China is concerned about the potential inflation rate of bitcoin against Cny. We need a credible medium that says that China is still trying to regulate the correct and strong rules for crypto currency, but they may not reject 100% bitcoin, they just want to secure the cny and are unrivaled by anyone because it is the country's identity intact.

[kerjakuat]

To be easy understand why china ban icos is easy. That because they cannot get tax.. That why they dont likes it. The government cannot make a shit from any ICOs so why they want to let their peoples to join ICOs.

[BurhanPSG]

I think china believe that bitcoins are use for money laundering. So to protect the dignity they ban bitcoins. There should be an other reason for banned.i think they want to stop local exchanges. It was a big business in china and i wonder why they are taking such steps.

China may have reasons that other nations should not know for a reason.
and now we can only accept that China forbids the existence of Bitcoin, but I am still optimistic that bitcoin will continue to grow even if China forbids it

Nope, China does not ban Bitcoin, this country only banned the ICO market and some cryptocurrency exchanges (almost are small exchange or exchange has small volume). China not stupid when they ignore a huge profit from Bitcoin.

meaning they are only banning digital-based currency exchange such as bitcoin in their local exchanges.
as you say, it seems that china does not want to loss because the benefits of the bitcoin can be very large, of course this is a separate consideration.

[TheFirstOfHisName]

Doesn't the whole world kind of hate Bitcion. Government wise speaking. As soon as they know what value goes around without being able to get tax out of it, it's pretty much an enemy.

[BitcoinCommodor]

China does not like most of its people investing in bitcoin as a result of which its national currency losing its value.Further,it does not want its wealth being transferred to outer nations via bitcoins.It feels that even though it regulates bitcoin exchanges to strictly follow KYC,still it would be impossible to trace all the transactions.It also does not want to lose tax revenues by allowing bitcoin.So,it just decided to take very severe measures against bitcoin and related platforms.But,i personally feel that they could have followed the model of japan regarding regulation of bitcoin.

The main reason of china’s hate is that he fear he may loss his currency because in china people start taking more interest in bitcoins, and this fear the china’s internal economy. So they took this nonsense decision and now their own people are complaining about this decision and asking to take it back.

[Skieleton]

China controls everything. Bitcoin and Crypt are independent. One can restrict access. This situation is disturbing ...

[Granxis]

It will not work if China hates Bitcoin. Because it is impossible to ban the Bitcoin network, they just shut down the companies. And they hurt their own economy.

[bajing]

I think their reasoning is the same as the reason government from other countries is bitcoin can be used as a tool for money laundering, tax evasion, etc. but there is something strange, why they do not prohibit bitcoin mining maybe they want to create their own crypto currency.

[pasmas]

Cause state loose their money from banks into bitcoin and  they are loosing control. It is normal they hate bitcoin and people of China love bitcoin

[jameskarl]

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.

[Jeffreyforce]

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.

This is where China and Russia are going to clash soon.
Russia is essentially using and supporting Bitcoin because it is neutral and independent from the global FED led Central Banking System and its FIAT money system... however Chinas Central Bank is still partially under control of the same FED led central Banking System that promotes FIAT money...

[S A KHAIR]

It is not Truth. China doesn't hate Bitcoin. I think they have their own Idea about Digital Currency.
As far I know China wanted to make their own centralized digital crypto currency. Don't know is it possible or not.

[Anfisman]

I think the reason why the Chinese government closed all the activities of ICO in their country is because the Government they want to fully hold the control of banking systems that exist in their country, and allocate credit according to a political agenda. Because bitcoins can not be controlled by the Government, they perceive that as a threats. The government does not want to see competing currencies. They threaten their monopoly to create money and control the financial system and the economy.

[Flomo]

china may want to protect its people that investors are still bitcoin, so as not to spend their funds for something that may be according to the Chinese government bitcoin is not profitable for the country of China.

[Kiweikoo]

china does not hate bitcoin. but bitcoin has become a threat to the country of china. yes that's the case, china is the biggest producer in asia about pirated goods. duplicate brands. and china wants to make its own crypto. that's what I think.

but not everything about China is true, we need to be more familiar with what China really wants,
whether about shifting their currency or they want to make their own currency cryptocurrency or the other

Here i am not agree fully with you but still at some extent you are right .
All the products that produces in China which are not perfect are only prepare by the people who have not job but have compulsation of having any type of job to make daily earnings .
Here the condition is also same , due to big population in china , people moving toward the cryptocurrency and thats why the big part ot cryptocurrency depends upon the china , but here government is going to take some action which is not in favour of the bitcoiners of china as well for us also because of the the down in the market of bitcoin .

it is true that Chinese bitcoiners users have a big impact on bitcoin transactions in the world
but what power is now the biggest transaction transactions have switched to another country and maybe Japan will replace it

Japan is indeed one of the countries that will likely later replace the country with the largest global market of China.
but do not forget, now there are european countries that have started to learn and develop bitcoin that is russia.

China hates bitcoins and they have banned it in their country. This is because they have some sort of different believe and usually the things that are more common into the international market and   common possessions are well not supported by china.

They do prefer the things with a Chinese tag over them. I think this could not affect the BTCs because now Europeans are more into it.

[mahimonliner]

In my opinion the main reason behind banning bitcoin from china is people's will addict to bitcoin rather then their fiat, and for that china will be in loss of huge taxes.cz bitcoin fees will not go to chinas govt fund.
Afraid Fiat afraid.new era has begin.

[IvanPont]

China does not hate bitcoin. He simply established a temporary ban because of the large number of scammers who use crypto currency and want to control it.

[Johnzky]

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 dont think china hates bitcoin,they just want to make control of the system in their country.and china wasnt just represent by government.but with people the chinese,and chinese love bitcoin so as every people in the world that knows about Bitcoin.