China cracking down on bitcoin again

[BChydro]

It is not just the Chinese. A lot many of the major players (all around the globe) are trying to keep the exchange rates down. And despite the prices increasing by more than 200% during the last few months, the fact remains that Bitcoin is still underpriced. We can expect a major price movement, once the next block reward halving approaches.

I did not understand the part where you claim that the price of bitcoin is under priced  , expecting a major price movement after the block reward halving can have some logic because it happened in the past but how can you claim that the price of bitcoin is under valued, the price depends upon the market demand and if anyone is will to buy the coin at a higher price then the market will go higher if not you cannot call it under valuation because no one is willing to give a higher amount  .

[1714580911]

1714580911

[1714580911]

1714580911

[1714580911]

1714580911

[cutesgirl]

The latest attempt features Alipay (payment processor):

https://cointelegraph.com/news/official-alipay-to-ban-all-bitcoin-related-transactions

Alipay, the digital payment arm of Chinese e-commerce giant Alibaba, has declared that it will be banning any transactions related to Bitcoin (BTC) and other cryptocurrencies.

On Oct. 10, Alipay reiterated its anti-crypto stance in a Twitter thread, which warned that the company is closely monitoring over-the-counter transactions to identify irregular behavior and ensure compliance with relevant regulations. Alipay wrote:

    “If any transactions are identified as being related to bitcoin or other virtual currencies, @Alipay immediately stops the relevant payment services.”

This move follows various reports that Alipay is being used for BTC transactions.

Binance uses Alipay for buying crypto

On Oct. 9, major crypto exchange Binance confirmed on Twitter that it has begun accepting fiat currencies through online payment service Alipay and mobile messaging and payment app WeChat.

Binance CEO Changpeng Zhao, also known as CZ, clarified that the exchange is not working directly with WeChat or Alipay, and users are still able to use them for peer-to-peer transactions.

This announcement followed the implementation of Binance’s peer-to-peer trading for Bitcoin, Ether (ETH) and Tether (USDT) against the Chinese yuan (CNY) earlier, as reported by Cointelegraph.

I think what has happened is this: China closed down all the cryotocurrency exchanges back in early 2017.

Then Binance tweeted to their Chinese users that they could buy bitcoin with Alipay. The Chinese authorities then put pressure on Alipay to close down any bitcoin related transactions, which is what they've done.

China always have fantastic moment to make bitcoin higher and lower, last day China make bitcoin from lower price become to higher price just giving announce to the public for receiving bitcoin as blockhcain technology as digital currency, bitcoin down last than one week but after China make publishing for adopting bitcoin, price of bitcoin become higher.

[bryant.coleman]

Do the citizens of China have no other way to buy bitcoin than AliPay? I'm not from China and this makes me interested, how much ways the Chinese people can buy bitcoin. Maybe this is why Xi wants the adoption of the blockchain to make its citizens prefer their digital currency to other digital currencies. I have heard that China wants to make own cryptocurrency.

A number of Bitcoin exchanges operate out of China, but they are not allowed to use the fiat currency (CNY). THe only thing that is allowed is crypto-to-crypto trading. So you can exchange your BTC to ETH or your ADA to XMR, but you can never exchange your BTC to CNY. And that is why Tether (USDT) and other stablecoins are being used a lot in many of these exchanges. The users were quick to find loopholes and they replaced CNY with USDT once the crypto-to-fiat trade was banned.

[Webetcoins]

If I am not wrong that I want to say boldly that China is really afraid of bitcoin as a threat of their country's economy, It may be a new happening between Binance and Alipay, Of course, Alipay needs to follow the rule of China government because they have a good reputation within this country, not only that but also some blame should go to the Bitcoin platform because it's still a very volatile platform, how a government take risk for their people to get engaged in this system, but the Chinese people are really doing a vast portion within cryptocurrency platform, but China is very strick to use Bitcoin and Altcoin to their territory but at the beginning of cryptocurrency invention, China was not as like today. how things can change?

China is really afraid of bitcoin which they don't even trust the service of all these Alipay and WeChat payment system again to really tackle bitcoin, and which is why they are also proposing to introduce their own currency thinking and believing that it will be strong enough to actually deal with the bitcoin technology which until they release before the realize that there is nothing that can really compete with bitcoin.

Instead of the way they are wasting time and cracking on bitcoin, the best they would have done is to even under study the coin perfectly well and then see how it can still be used to their own advantage, but because of most of their selfish interest protecting their coin, they are very much blind to what bitcoin can actually do for them.

Sometimes I really feel like China has gone crazy because it has become hard for it to digest that no one can control bitcoin and no one can kill it either. There have been times, when bitcoin was supported by it. I think it planned to take over bitcoin because everyone knows what power one can have by controlling world’s most expensive crypto currency. Bitcoin can’t care less about China.