why China goverment allergic to bitcoin?

[ohkkstaaahp]

Maybe they are not as we think. They deliberately do so to push the bitcoin price down and then buy themselves bitcoin and wait until the bitcoin rise. The Chinese are very scary

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[zakcooper40]

china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?

govermentChinese can not to impose taxes on Bitcoin, so they seek ways to prevent their people from using Bitcoin. I think so

[snekinmyleg]

I see  there are many altcoin from China. Maybe their government wants all Chinese people to use their coins instead of using bitcoins

[mulia tani]

maybe China want to make their own virtual money, It is not impossible that China wants to create its own cryptocurrency that can be the legality of the government. So far, many things are banned in China, ultimately they make themselves. Used illegal transactions,Bitcoin transactions are difficult to trace.it is used by irresponsible parties for money laundering, drug sales, smuggling, and other illegal activities.

[pri3oner]

Just cos China controls everything inside the country such as new type of economics as crypto. It's normal for their bevahiour and they are smart enough to get all pro's from it getting rid of cons. Lets watch.

[nandamo]

china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?

Because they want to pirate(copy) Btc and make their own style(crypto). We all know china like copying things and pretend that it is their own idea like what they did with Apple Technology Company.

[markerr]

I think if it was possible China afraid of the country’s digantikanoleh bitcoin.

Try not to use google translate next time.

All governments are concerned with the rise of cryptocurrencies. The main difference is most of them are democratic and allow the people to decide. Take Korea for instance. When the rumors about a ban came to light Koreans started to sign petitions demanding the minister to resign from office. In China the power of the government is absolute, these people are organizing events where they're publically sentencing people to death, and the crowd is cheering. It's like in ancient Rome!
That's why they aren't playing around asking people for their opiniions. When they want to ban something they just do it.

you mention something.

[Veterock]

hah)If you powerful person or country and you see the thing which you can't to control, you just trying to ban it)

[Dele2018]

I guess they are against bitcoin because they have their own cryptocurrency called Neo.

[richardsNY]

govermentChinese can not to impose taxes on Bitcoin, so they seek ways to prevent their people from using Bitcoin.

Any government can indirectly impose tax on crypto in its entirety, so that's not a problem at all. China's main problem is how madly paranoid they are when it comes to capital outflow. It has been like that for years now, and the only thing crypto did was making China's paranoia worse. Instead of somewhat controlling the situation, crypto wiped all their prior efforts off the table, and formed more of a potential threat in that aspect than ever before. That's why it actually surprised me that China didn't take any actions against crypto years ago already. It's either them at that point having believed that crypto wouldn't last, or they thought it was a manageable threat. Whatever turns out to be the case, their actions against crypto in current days speak for themselves. I however believe that their sanctions aren't final, but just an attempt to buy time in order to come up with proper regulations....

[Pandacomel]

For a justifiable reason: governments would prefer not to see contending monetary standards. They debilitate their imposing business model to make cash and control the monetary framework and the economy.In reality, the reason China is the primary huge government to make such move isn't a mischance. China more than some other nation needs to have firm control of its managing an account framework, and distribute credit as indicated by a political plan. This implies a contending money like the Bitcoin would debilitate its political framework.

[Fairy_90]

Unfortunately, the BTC's enthusiasm has left the Chinese government concerned. Government officials, including the Chinese prime minister, have repeatedly expressed concern over the psychology of virtual money.
People worry about this: I worry too much. My money will be thrown into the trash if the government closes the trading floor

[ggod5]

Because bitcoin is not conducive to centralization of the Chinese government, it threatens the dominance of the Chinese government, so they can only strictly supervise Bitcoin and control Bitcoin as much as possible.

[kynaz]

govermentChinese can not to impose taxes on Bitcoin, so they seek ways to prevent their people from using Bitcoin.

Any government can indirectly impose tax on crypto in its entirety, so that's not a problem at all. China's main problem is how madly paranoid they are when it comes to capital outflow. It has been like that for years now, and the only thing crypto did was making China's paranoia worse. Instead of somewhat controlling the situation, crypto wiped all their prior efforts off the table, and formed more of a potential threat in that aspect than ever before. That's why it actually surprised me that China didn't take any actions against crypto years ago already. It's either them at that point having believed that crypto wouldn't last, or they thought it was a manageable threat. Whatever turns out to be the case, their actions against crypto in current days speak for themselves. I however believe that their sanctions aren't final, but just an attempt to buy time in order to come up with proper regulations....

Bitcoin can have a huge impact on China's economy as Crypto markets in China are not subject to tax and they can be comfortable doing business. I think China will soon be legalizing Bitcoin because most people in the country have a very good view of Bitcoin and this is definitely the best chance for the entire Cryptocurrency market.

[ramahero01]

The main problem is that the country has a very serious corruption problem. They can not control the bitcoin, so they can only forbid it, so chances are it makes the Chinese country allergic to bitcoin.

[eoolm]

China's economy is advanced, but its population base is also large. When new things are introduced, it is very easy to cause market chaos. Therefore, they can only be introduced when it is ensured that there are corresponding countermeasures to control new things, especially when it comes to the economic market.

[poot89]

china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?

Its because they don't have total control over of it that's why they are so against it and with their type of government if they don't have control over something the best way they go about is is either by destroying it or banning it completely.

In the quagmire of the world financial crisis, at the final juncture of East-West economic power competition, the country’s real economy must not be affected by anything. This is the main reason why the Chinese government has braked Bitcoin at this time.

[Loopper]

Just cos China controls everything inside the country such as new type of economics as crypto. It's normal for their bevahiour and they are smart enough to get all pro's from it getting rid of cons. Lets watch.

That's right, They will have other intentions to gain more profit than Bitcoin or another way to create a new token that rivals Bitcoin.

[cocal]

Many of China's large companies are researching blockchain technology. China is a technology that recognizes blockchains, but he does not support Bitcoin. China believes Bitcoin will undermine the national economy.

[filtyfrank251]

I think the Chinese government is deliberately trying to lower the value of bitcoin to promote the development of their own crypto. Bitcoins are not made by the Chinese, so they certainly do not want it to own the cryptocurrency market, which should be the crypto of China, probably NEO a crypto is receiving great support.