Why China is always bad news for bitcoin?

[fatema]

I can not say for sure, but since the first time the Chinese government has banned the use of Bitcoin in their country. I think China's government is not able to control Bitcoin in the country. They think it protects their personal interests. They think Bitcoin and cryptocurrency threaten their country's economy. Many people in China use it to bring money from the country, which the Chinese government does not like.

[mahibul49]

china is stupid country and i think china want to buy more cheap btc thats why they always promote fud.

[Zentor]

China was heaven IMHO because they tried to become a leader in this industry. Later the situation become more clear and China started to regulate different aspects.

[kingofrogues07]

Because chinese goverments ban everything even google This is normal day on china:) I believe china will change their mind about BTC in near future.

[marabanda]

Because in China there is a huge number of investors. And this is not pleasant to the government, since all the Crypto-currency is a huge threat to the world financial system ... so the Chinese government tries to regulate everything regarding crypto-currencies, including bitcoins.

[cp3mc]

China is the fastest growing economy in the world as a way of transacting business bitcoin has a great impact to move wealth with very swift move

[Roboabhishek]

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.

Cause of its pumpers/ dumpers, Spreading FUD, China is the worst possible example for bitcoin.

Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

They don't want their economy to be seen as a decentralized place where they cannot control anything. They don't want their citizens to eat fruit so they are cutting the trees down >> with reference to Not allowing them to mine bitcoins will reduce after spam tx(s) on the blockchain as most of the hash rate generating from China would be gone. Unless everyone uses lightning network but that is also a temp solution.

[laserfocused]

This may sound funny but that is the reality. why?
Though the title says it all, you know China was the once the safe haven for bitcoin and bitcoiners.
Then, China started doing something to hurt the bitcoin and cryptocurrency in-general from banning ICOs to cryptocurrency exchanges and now they are after bitcoin miners, again... What is your thought on this matter? Share with us. thanks

Love them or hate them, the fact is that most of the cryptocurrency activity comes out of Asia, and China is a large part of that.  So when the Chinese government starts to impose or threatens to impose restrictions the danger is that they are cutting off a huge supply line of investors in that area.  If I said I was banning bitcoin in my house, it would not move the markets, because I am not even a rounding error with the market.  However if China says it then it is talking about potentially restricting billions of dollars worth of cryptocurrency

[turagsoy123456]

This is a stupid country.
Is mainly the corruption in this country is quite serious, so the BTC and encryption currency is the way of the transfer of natural assets, it will make most of the assets transferred to foreign countries, China's so countries need to control the problem of foreign exchange, this is the fundamental.

The main reason for this why china always spread bad news of bitcoin digital money currency its because they want to competent bitcoin. They want to make their own cryptocurrencies. That why their government planning to crackdown bitcoin and limits the electricity use by the bitcoin miner's.

[Sadlife]

I think this is all because the government is trying protect it's currency knowing that citizens are far more using into digital money than they're paper money seems threatening and they've become giants in bitcoin community. So they've have to take action to save their centralized currency from getting bested by crypto currencies.

[AbsoluteT]

China being bad news for bitcoin has become a type of meme now it seems like every month there saying some kind of ban or something and it dumps then goes back up

[toiratdeptrai13]

At present, China is the country that holds the most bitcoin. Many Chinese investors also want to jump into this market. Plus, many of the older investors holding bitcoins want to increase their bitcoin amount. So they constantly manipulate the bad news to bitcoin away to facilitate their purchase campaign

[Vin183~]

Bcos china have their own coin, so.they will not think the good of bitcoin. They want people trust to their coin.

[maianh09]

Bitcoin has been known as a paradise for Bitcoiner as it holds more than 60% of Bitcoin. But as more and more people in China invest in Crypto, the economy of the country is affected, and the projects do not call for capital because almost all investors here turn their assets into crypto. In particular, many people here try to launder their money by converting them into Bitcoins illegally.

[cacakuswaya]

because Chinese state assets have large investors, they are afraid if investors switch to using crypto instead of saving their money in the bank. hopefully this is only temporary because of the progress of blockchan technology is very beneficial to the progress of a country, and hopefully China legalize crypto back in the country.

[Rishabh riyz]

This may be  because the government doesn't want their people to directly get involved into crypto currencies like bitcoins and ETH  or maybe because they want their nation to use their own crypto currency that they may release to benefit their government economically .

[bolbau]

i think becuase the china goverment know that they are one of the biggest cryptocurrency users, china wants to control the price of coins in the market according to their interests. I just read a thread a few weeks ago, explained a fact that china always do ban and unban cryptocurrency every year and currently, Jan 2018, china threatens to ban bitcoin causing bitcoin decline.

[Pasadoble]

I think Chinese government is not able to face all those economic problems which rise from cryto trading and mining in their country.

[ar72]

Always bad news about bitcoin in china because its goverment banned bitcoin for citizen. And I think this country will make other cryptocurrency by own country that be rival of bitcoin.

[vonnyaries]

form the beginning china is very unpredictable, i don't know why but when i see that country many weirdness thing happen in that country. and my prediction chine banning ICO and cryptocurrencies is just fake, maybe they make that rules to makes bitcoin price is down and they can buy more bitcoin. lol its just in my imagination