Why China banned bitcoin？

[ne0nx9]

It's interesting point of view. China has been banned a lot of popular services like YouTube, Google.
Actually citizens not disappointed about that because they have analogs for all of banned services.
Also, they can control all of analogs and government can do what they want. It's their politics, just a party politics.  

I think in the future they will make their own coin with the government support.

[charlzyeby]

Whether China bans bitcoin in or not it still has the potential to increase in price in that people are even getting to know bitcoin now. The bad news will only make people know bitcoin and when the good news come up, more investors are attracted. I hope bitcoin lovers from China can trade using offshore accounts.

[nguyenphucdang]

I hope bitcoin lovers from China can trade using offshore accounts.

[Rishabh riyz]

In my personal views China banned bitcoins because

• the government didn't wanted their people to interact with crypto currency like bitcoins fearing that their nation currency Renminbi would lose its Value
• the government may be planning to launch their own crypto currency

[erichall]

So it was just a negative temporary information throw. Not worth much to trust this news because it is bad for your nerves.

I never trust a single thing the media says. There has been so much fake news regarding laws and China's "banning" of crypto that I no longer take any of it seriously anymore.

[brengoskandel]

As I think, the Chinese banning bitcoin is only sooner or later. Earlier, it revealed that the central bank was researching and issuing digital money. Getting too well known bitcoin and the power of profit will make them anxious. Their investment in bitcoin and crypto will affect the success of their own digital money.

[JeBro]

The main reason for China's prohibition of bitcoin, in my opinion, is to prevent the withdrawal of financial resources from the country. A strict monetary policy is being implemented in China, and the use of bitcoin and crypto-currencies makes possible to freely move money around the world, including withdrawing them from the PRC.

[tuanvu199x]

China has repeatedly announced a ban of bitcoin, ICO, cryptocurrency. But I believe the future of China will have new policies on bitcoin

[rightway00372018]

China has repeatedly announced a ban of bitcoin, ICO, cryptocurrency. But I believe the future of China will have new policies on bitcoin

I dont believe china will banned bitcoin because there are so many chinese investing on it, so dont listen fake news as this may affect your decision in investing crypto.

[Wagako]

Sorry, I just went to ask my Chinese friend.
The news I got was that China did not ban bitcoin transactions.
It's just tougher regulation.
I also don't see any news that exchanges stopped trading bitcoins.

I think they want to secure every transactions and make the bitcoin become safer for all the traders that's why they are regulating this because they want that every investors and traders are safe from any scammers. I hope that this wouod be the reason behind banning bitcoin in different countries.

[SangitAlam]

Because it can not be copied

[goodfortune2018]

China has repeatedly announced a ban of bitcoin, ICO, cryptocurrency. But I believe the future of China will have new policies on bitcoin

This is purely speculation trying to destruct the image of bitcoin in the  global market because there is no stronmg evidence to prove that china banned the use of crypto in their country.

[CryptoLoverz]

whether this news is indeed proven. because a lot of false news is not yet known, but it has already been shared and read by people. but if indeed this news is definitely the truth. maybe it will affect the market price. recently i have read that bitcoin persists in china but its existence bitcoin is nothing compared to other coin that exist in china.

https://m.detik.com/inet/cyberlife/d-4028998/di-china-bitcoin-not-what-you

[Akupuniard]

Probably many Chinese people invested in crypto and was scammed or something else , government tried to save situation and banned bitcoin. Nowadays their developers making new cryptocurrency.

[Ryanpaul80]

Not all wealthy people in China are well aware of paying taxes. They are ready to evade taxes if possible. Therefore, the conversion of personal property to Bitcoin is also a suitable method for evading taxes.

[vipaleks]

I think they see a threat to the long-established monetary system

[BitRentXx]

I think China is not really banning bitcoin, the Chinese government has just closed some uncontrolled exchanges. This is what causes investors to panic and sell their coins, and ultimately impact on the decline in bitcoin values.
But during this mining activity is not really any prohibition.

[danwanyd]

Bitcoin is very popular in China because the number of people using it is so large that the government can't control it, so China has cracked down on the use of bitcoin. This is the performance of China's dictatorship.

[ScroodjMoney]

They do not banned the bitcoin at all, they just emphasize the regulation in which people really attracts to bitcoin so they can control on how people really buy or purchase the said currency.

[tongkatakai]

The circulation of bitcoin is still considered illegal in the Chinese government because they consider the bitcoin a den of crime. Payment is for hackers and traffic