why China goverment allergic to bitcoin?

[jamelyn]

Because bitcoin can be taxed. The government of China wants everything be taxed because of their army. They need huge funds their military.

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[tartecyst7d]

Don't know why they all are not letting btcs grow. They are missing a huge benefit for their respective countries

[tanxingwo1215]

Because China is a one-party dictatorship!

The decentralization of BTC is different from their governing philosophy and cannot control BTC!

[STT]

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?

China doesn`t like Bitcoin in particular, not the whole revolution. Chaina alreade uses blockchain technology. But they don`t prefer Bitcoin, because they can`t control it. Bitcoin is untraceble and anonimous. China doesn`t like it. The country is considering creating its own crypto currency, which they will be able to control.

Bitcoin is traceable and not completely anonymous but I agree China is opposed to bitcoin because its not under central government control.    I did read a theory that BCH is connected to Chinese government but I do not know thats been proven to be true, many miners are based in China though.
  The big deal with China is they do not allow their people to freely exchange value except via government which involves taxation and possibly forfeiting value if you are not aligned to the politics of that country or region even.   Of course its not democracy and not actually capitalist.  Capitalism is always capital and means of production with the people, even the West fails in this by centralising banking

What you mean is why China forbids bitcoin as a means of payment in the country. Probably the reason why China forbids its citizens to trade in bitcoin is probably the Chinese State Government thinks bitcoin can harm banks, And maybe China wants to make its own Crypto better than Bitcoin, and other reasons may be the Chinese government is afraid that one day bitcoin can beat their own country's currency.

China doesn't have freely operating banks, they are all drones of the government operations.  The people are constricted by capital controls.   Bitcoin avoids these two things and profits may or may not be taxed, they do not allow free enterprise in this country I think its as simple as that

[webdevmastery]

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?

China has factories in their country and they need a lot of employees in order to run the industry but because of bitcoins, most of the people are focusing on mining since the cost of their electricity are also low and they can earn more money on mining more than working on the corporate world.

[ChConcept]

We have to remember that China is a communist country that's the main reason why their government is in control of everything there, so Bitcoin being decentralized is something that they don't want their people to use. They won't be able to control it so might as well ban it to ensure that it will not be a problem for them.

[ClownSpider]

China and India have done NOTHING against bitcoin.
They only are regulating and stopping Alt coin ICOs. 
ICOs are Alt coins, NOT bitcoin.

[czhen]

China will invest heavily in digital currency, though most likely not bitcoin. The Chinese government will want to have a competitive digital currency with bitcoin. Condition of the digital currency should be able to control them.

[Royal Jelly]

So far China is the center of virtual currency transactions where Two of the world's largest Bitcoin markets exist in China. Maybe the China government is afraid if bubble happens, because if there is bubble and broke it will be very big losses suffered.

[devioso8]

Bitcoin is a threat to China's surveillance state. They hate freedom.

[Rockyz]

I am not surprised if they are allergic to bitcoin! They are allergic to a lot of things. They are allergic to things that is possible to hack. They are very tight of security measures. They dont even have facebook in their country. They are allergic to bitcoin simply because it is a threat to their government and investments.

[danielwwt]

Interesting to see this thread is still on top.

From a recent news, top government officials said they like blockchain technology, but things are going so fast. This is their biggest concern.

I would imagine they'd love to learn more about bitcoin.

[Arata]

First, China avoids any illegal transactions, because the bitcoin transactions are difficult to trace. Second, China avoids the bubble. This is directly related to 2 of the world's largest Bitcoin markets exist in China. If there is a bubble and broke, it is certain that China will be affected by huge losses. Third, maybe China wants to make its own virtual money. It is not impossible that China wants to create its own cryptocurrency that can be government legality.

[firec8]

Because China is a big country in the world, the Chinese government is afraid that economic markets will become confused after the introduction of cryptocurrencies. Therefore, China does not dare to introduce Bitcoin before it has a policy of specific control.

[Javed zaman]

I think China wants to show people that its people can develop without the aid of Internet because of which China has ban Google too.

[Rishabh riyz]

maybe it's just because the government of China is over controlling and punitive.
they just don't want their position to directly deal with crypocurrencues now and maybe they would be planning for their own crypto currency that they would launch sooner or later !

[DoublerHunter]

Since the government cannot control the cryptocurrencies just like bitcoin then it is not a good thing for them to have since it is pure decentralization and they can't get benefit to that for their maximum wants. Some of the government are still trying to control it by having a regulation orders in order to slowly get the control of the whole.

[anhchangdeptrai13]

China is not allergic to bitcoin. They are just controlling the flow of money out of their country. They are creating their own crypto

[frillyblockG]

I think they don't want fiats to be replaced by btcs as they are totally aware of the growing btc craze in their country

[safeend6]

Don't know may be there is some allergic reaction to the china govt. Let them visit to Doctors :p LOL