Why does China hate Bitcoin?

[shejunk]

Because bitcoin is free and government-neutral, and China does not want to see it, bitcoin's anonymity makes it possible for some lawless elements to launder money. The Chinese government thinks bitcoin can cause national chaos, so the Chinese government does not like bit currency. 

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[Alfinopogi]

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.

for because why china hate bitcoin because The People's Bank of China appears to be closer to issuing a digital fiat currency than pretty much any other central bank on the planet. It has launched its own digital currency research institute with a director who openly talks about its design possibilities with publications.

[BUY_SELL]

When talking about China is not the concept of hatred of the crypto currency. They themselves in the near future are ready to create their own crypto-Yuan, they need little competitors, especially in such a closed economic system as their one

[trinhdinhthang20007]

I personally think that China does not hate the BTC, they are gradually managing them and putting into use for national purposes. China is a technologically advanced country, possessing many powerful technologies and future big projects so BTC will be their partner because Blockchain platform is the future foundation, All know that.

[buharikx31]

They are worried that bitcoin can't be tracked and money can go to a wrong direction for illegal stuff for sure people are really intrested in to cryptocurrencies because they can send recieve funds without paying 3 rd parties

[ufaiz50]

They are worried that bitcoin can't be tracked and money can go to a wrong direction for illegal stuff for sure people are really intrested in to cryptocurrencies because they can send recieve funds without paying 3 rd parties

they worry because more towards bitcoin can not be controlled by them so they apply the regulation that ban local exchangesand it indirectly banned bitcoin. to use for the wrong direction I disagree because I think all the currency that has that value can do that. bitcoin is decentral it can be an advantage to use as you say where there is no third party and could be a disadvantage where there is no support like in china.

[entropy0]

because it leads to the lack of control on money, where it goes, whom it goes to.

simply put it makes controlling the country difficult.

[tukagero]

China hates bitcoin maybe because of its unstable price, bitcoin is being used in  fraud and in illegal activities the fact that it is untraceable too.  Maybe they want bitcoin to more public.

[LogitechMouse]

I think they don't hate bitcoin. Its just they want to have a currency that the government can control of it but since bitcoin is decentralized, no one can control of it and that is one reason they ban it in their country. They want also a currency that they can be track but as we can see, no one can track the transactions on the blockchain.

[Julia_bitcoin]

A simple solution for the Chinese authorities with illegal schemes for collecting funds using counterfeit digital coins was the ban crypto stock exchange.
Therefore, China hates bitcoin because of fraud, speculation

[PagingCrying]

China does not like most of its individuals purchasing bitcoin as a result of which its national currency dropping its value.Additional,it doesn't want its wealth becoming transferred to external nations by way of bitcoins.It feels that even though it regulates bitcoin trades to purely follow KYC,nevertheless it would be not possible to trace all the transactions.It also does not want to shed taxes income by allowing bitcoin.So,it simply chose to consider severely measures towards bitcoin and associated systems.But,personally, i feel that they could have adopted the model of japan concerning regulating bitcoin.

[sanbashiyi]

chinese not hate bitcoin , the main reason is the chinese government . if the leadership didn't like bitcoin ,

the people  are no way to touch bitcoin. but bitcoin is decentralized， they want to ban is really irony

[mininghubby]

A simple solution for the Chinese authorities with illegal schemes for collecting funds using counterfeit digital coins was the ban crypto stock exchange.
Therefore, China hates bitcoin because of fraud, speculation

because chinese government think that bitcoin and other coin help can be help full for money launder.and i alsoI think not all Chinese people hate bitcoin! there are only some especially there government but that is not hate! I think they just made rules for the safety of taxtation system and for money laundering.

[mukeymon]

Because bitcoin is anonymous and hard to track, bitcoin can be used for money laundering, the Chinese government does not like bitcoin, and bitcoin can cause chaos in China.

Not only does, bitcoin make investing in real life difficult. When all investors ignore it and invest what they have into bitcoin.

[Bustart]

They are worried that bitcoin can't be tracked and money can go to a wrong direction for illegal stuff for sure people are really intrested in to cryptocurrencies because they can send recieve funds without paying 3 rd parties

China is not totally hate bitcoin. Actually, this bitcoin was being ban by China to enforce capital control. The point is that the Chinese leadership would do anything to keep the Chinese economy going in order to keep power of these important juncture in Chinese history. Messing with the bitcoin for that matter, is one of the tools to meet their goals before summit.

[akmittal]

It is not good to say China hate Bitcoin. The main problem with bitcoin is that transactions are not traceable and there is no regulatory to control bitcoin. There are a number of ICO scam and farads
 transactions where the investor loose there money. China want to regulate bitcoin.

[Phyton76]

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 think China hates bitcoin because I believe China doesn't hate bitcoin. China might hate the fact that it's untraceable, and with the problems that rised with the ICO's where many investors were scammed, and lost money, they couldn't do anything to retrieve that. It's a risky market, some will opt out of it, some will just act that they will opt out, and others will continue following bitcoin

[xandriel]

They don't hate Bitcoin, they are trying to control it. They don't wanna Bitcoin will affect badly in their currency.

[AngelGoldfish]

I do not think China dislikes bitcoins. looking at it at a larger viewpoint, bitcoin has been utilized by some individuals unlawfully, for example money washing. Illegal actions which are financial in nature is now able to untraceable via bitcoin, that's precisely why the far east dislikes bitcoin.

[Bakemat]

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.

from your statement or for your research the answer is on that . bitcoin is decentralize and we know that bitcoin is untraceable i'm right yeah ? so if the bitcoin is untraceable then china does not allowed any money that untraceable so in that statement the answer is that. china hate the bitcoin because they don't know where the bitcoin find if the problem or issues on bitcoin was happen. i think they hate it because they only want the money that if a have a problem on that they want to contact what that is