question

[kivuti Elias]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

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[Agamemnus]

In the previous pumps China was the front runner in injecting the money for the pump, so China is watched closely. Also most of the Bitcoin mining is based in China so thats another big reason for it.

[Teraboy]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

Since crypto can attract the china's potential investors. And they are not going to miss it. I meant to watch the crypto closely.

If you are seeing so many scam icos recently that aims the potential investors to be the next victims and china were aware of that.

That's why china try to strict the potential investors to invest in the crypto (ico).

[cryptorTUX]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

Because they are the country who cares about the future and thus are trying to control the situation because it is better that way than for it to get out of control and then they will hit big wall. If you look for instance US is also closely watching what's happening and EU. China is aware that this whole thing can disrupt the money system that was built before and questions such as how you tax it, who to trust etc. should be asked. To my understanding China is mostly negative towards ICOs because of the way they are funded and because there are scams related to it.

[jacafbiz]

It is not only in Crypto that China is watched closely, even in the traditional market, China has the market and the amount of volume coming from the country can't be ignored, also remember that the mining companies are concentrated in China, it is not onlt ablout the economy but also the security of the Bitcoin network

[styca]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

Because it is a huge market. Anything that China does in any industry can have huge effects. There is also the sometimes very insular nature of the Chinese economy, and the massive sway this holds over the Chinese crypto projects.

[mariangpalad]

Because the chinese has the most supply of bitcoin,largest supply of bitcoin is from the china because china has the most mining rigs in the world,we are talking not just rigs,but farms of farms that is why china has a big role in cryptocurrencies but their government strictly prohibited these acitivities that is why our market doesnt have the chinese investors.

[adzino]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

The Chinese have a huge market and plays an important role in case of the price of bitcoins and other crypto currencies. The government right now is kinda being very harsh on those who use crypto currencies. They are imposing strict regulations like blocking websites that allow users to trade bitcoin or join ICOs. They are not anti crypto currency or anything since they are also doing trials of making their own crypto currency. Now if the government starts being normal or does anything that will affect crypto currencies positively we will see a huge price rise for which others keep a close eye on China.

[Zeeks]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

You can't get around the biggest player on the market.

[oscarrsm]

Look at today's news from China. They become entangled and contradict themselves. A year ago they announced that they would give out the national cryptocurrency, today they say they will be cautious with cryptocurrencies. I think that the situation will change after the change in the leadership of the central bank.
https://www.ccn.com/cash-might-die-no-hurry-develop-digital-currency-china-central-bank-chief/

[Muhammad Muneeb]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

china is a big market of crypto so any stance by the chinease government effects the crypto prices.. china has banned all type of crypto trading now people sell or buy through we chat groups but now government want to ban these types of we chat groups too

[xiaohang07]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

China's government would like to control the trading of BTC and alts, because they don't want people have a very simple way to send money overseas, which could be a systematic risk for China.

[sindikat]

The answer is very simple. China is the largest country in the world by population. If bitcoin is popular in China, then every Chinese can not buy a 0.0015 btc. They don't have enough coins. What's the rest of it? There is still a country like India. There is also now the government struggles with bitcoin. This significantly reduces the demand for bitcoin and the price is growing very slowly. That is why people are interested in the position of these countries.

[KEPLER99]

In the previous pumps China was the front runner in injecting the money for the pump, so China is watched closely. Also most of the Bitcoin mining is based in China so thats another big reason for it.

Indeed. Quite much amount of money is injected in crypto market by china which causes huge pumps and it also causes dump when investors from china withdraw their money from crypto currencies. China is one of the biggest market for crypto assets and also most of the crypto currencies are mined in china. China invests huge in new projects and has also given birth to quite many good crypto currencies such as NEO and TRX. China is helping develop blockchain technology to new level. That is the reason I think people watch china’s stance carefully.

[boboking]

It is not only in Crypto that China is watched closely, even in the traditional market, China has the market and the amount of volume coming from the country can't be ignored, also remember that the mining companies are concentrated in China, it is not onlt ablout the economy but also the security of the Bitcoin network

China is a big player in the world economy. As we all know everything now is made from china.  Do you notice in hollywood movies there is always a chinese actor. China is a big market and penetrating this market is a huge deal.

We all know the stance of their goverment about crypto currency right now, if they continue this crack down against crypto currency surely it has an effect on the market.

[LancelotRay]

Look at today's news from China. They become entangled and contradict themselves. A year ago they announced that they would give out the national cryptocurrency, today they say they will be cautious with cryptocurrencies. I think that the situation will change after the change in the leadership of the central bank.
https://www.ccn.com/cash-might-die-no-hurry-develop-digital-currency-china-central-bank-chief/

With that being said, they still have a huge influence on cryptos. Whenever they tried to ban it, the markets would fall.

[swscowods]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

China’s stance over bitcoin and other crypto currencies is watch quite closely before china is a large country and one of the major market for cypto currencies. Many investors in crypto market are from china. China is quite much involved in crypto market financially than rest of the countries. Any action taken by government of china can manipulate the prices of crypto assets as it might cause major sell off if banned and if legalised, can cause market to skyrocket. When the news came that india had not considered crypto currencies as legal tender, the price of cryptocurrencies fell quite hard, now think how much china’s news will affect the market.

[bitgolden]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

Because they are the country who cares about the future and thus are trying to control the situation because it is better that way than for it to get out of control and then they will hit big wall. If you look for instance US is also closely watching what's happening and EU. China is aware that this whole thing can disrupt the money system that was built before and questions such as how you tax it, who to trust etc. should be asked. To my understanding China is mostly negative towards ICOs because of the way they are funded and because there are scams related to it.

China has never stepped behind when the matter is about technology and development and has been major market for most of the technological inventions. China has major investors and people that don’t want something revolutionary thing such as crypto currencies go to vane. So china is regulation crypto currencies and protecting its investors from scams and ponzi schemes.

Recently china also created a fire wall and blocked people access to outside crypto exchanges to ensure that the money stays within china and is not flooded out. And not only china, almost every country is getting against ICO’s now as most of them are scams and they are not being registered under government to help protect people from losing their investments.

[Daimon88]

Why is China’s stance on bitcoin and other cryptocurrencies watched so closely?

China's government would like to control the trading of BTC and alts, because they don't want people have a very simple way to send money overseas, which could be a systematic risk for China.

Not only china, almost all countries in the world would like to regulate the trading of bitcoin and other crypto currencies so that governments can track any illegal activities or terrorist funding going on around the country or overseas. Moreover, free trading of crypto currencies also posses threat to government as people don’t pay their taxes on the amount the earn from the profits in crypto currencies. All countries want the transactions to be centralized and keep the record of overseas transaction to understand where the money is flowing and for what reason.

[Condoriano]

If too much money was spend on a certain activity, even other country will get alarmed. China is so big that lot of investors is spending their fortune on crypto that makes them the most influential when it comes to the market. Any moves make from them will affect the prices of the market. Government of china need to take a closer look to monitor every transactions and atleast trying to avoid being outplayed by crypto.