what's the bitcoin in china?

[pranaja]

Earlier this week, authorities in China reportedly planned to block domestic access to Chinese and foreign virtual currency platforms that allowed trade to be centralized.

[Kotone]

Earlier this week, authorities in China reportedly planned to block domestic access to Chinese and foreign virtual currency platforms that allowed trade to be centralized.

I also heard some news or rumors that china has been planning to block of all the other cryptocurrencies and only allow one form of it which they are heavily invested in to their borders. THAt way they can have a monopoly in their land the investments on it and it would allow them to have a large number of income mainly for the Chinese government

[maydna]

but if the people don't agree with this, I am sure that they will search another way to use cryptocurrency especially to still use bitcoin. but I think it is just temporary because I don't think every investor in Chinese especially investor from outside of Chinese will like this. maybe this is the way that Chinese government to try to control cryptocurrency that has been growing in their country and they want to take the benefits for them.

[giogio0504]

I think that these are temporary restrictions, coins will not be popular if they or trading will be centralized.

[boyshx]

 China is a communist country. There everything is decided by government. Government is the only central decision making authority. People in general have no right to express their freedom. Decentralised coin`s b entry in China was a big surprise. After realising the fact that it is impossible to regulate bitcoin currency Chine`s government decided to ban it from their economy. This has created a panic wave among bitcoin community, because China was the biggest trader as well as revenue generator. News or rumours are also there in the market that China is planning to introduce its own cryptocurrency soon.

[naufals4]

from what i read that bitcoin in china will be ban from this country and even korea do ban bitcoin too. i think because the price of their currency can down because of this bitcoin thing. so china and the other country ban them.

[bttcoin]

Bitcoin is not forbidden in China, but it is not supported either. But many people are involved in the world of cryptocurrencies, and we all believe in the potential of Bitcoin.

[Scor1937]

Even i heard some similar news and i think china is planning to shut bitcoins down. Perhaps they might be having some other skills about the cryptos and they may start some new currency in their nation as they have a alternative for youtube, internet browser and everything else so i think they might be having a similar thinking in the terms of bitcoins too. Lets wait for something really intresting to happen with and also i dont think bitcoins for wait for all this. It will continue going up.

[Johnnie Kien]

BTCChina (now BTCC), based in Shanghai, was the world's second largest bitcoin exchange by volume as of October 2014. Founded in June 2011, it was China's first bitcoin exchange, and most of its customers are thought to be Chinese.In November 2013, the company had grown to 20 employees. It announced on 14 September 2017 that it was suspending trading as of 30 September 2017.

[Jimitieu]

What do you think of this Chinese government doing? Personally, I feel that the Chinese government is very suspicious of the electronic money market. They found that the altcoins are gradually falling down too much and maybe if the market is in China, most of China's population will not seek employment in real life instead of focusing on the bitcoin. That is probably the main reason for the Chinese government.

[icreative998]

Their purpose is not to want their economy not to depend too much on this market. They also see the risks of electronic money, so they want to prevent their people from entering the electronic money market. Maybe the e-money market has really come down and people should be wary of this market. Ideally I recommend you do ICO projects to earn extra money or mining bitcoin.

[dado7]

If they will really block some cryptocurrencies and allow others, be sure that the allowed ones will be from China. So for now, my guess is a NEO platform. If you take a look at it - they have their versions of everything - Google, iPhone,..... , they are keeping the investments inside their countries that way.

However I do not believe it will happen anytime soon. They already announced similar things which created FUD and then nothing really happened except some increase in regulation, which is a very good thin actually.

[Dreamchaser21]

but if the people don't agree with this, I am sure that they will search another way to use cryptocurrency especially to still use bitcoin. but I think it is just temporary because I don't think every investor in Chinese especially investor from outside of Chinese will like this. maybe this is the way that Chinese government to try to control cryptocurrency that has been growing in their country and they want to take the benefits for them.

But the government of china controlled its people and I think this thing can happen but it will takes time. Cryptocurrency is just starting to be use by many people and even big companies, they may ban bitcoin but for me its just a temporary. China is just trying to manipulate its own people by using only on coin so they can get higher profit.

[catchemcrypto]

A lot of bitcoin is in china even though the government banned trading cryptocurrencies there. I don't know much but i think there were ICOs in china and projects have been launched there.

[The Demon Slick]

They're corrupt. Spread a few renminbris around, everybody looks the other way. Nothing to worry about.