Oh lol,
China bans something again!
Run!!! Panic!!! The purge!!!!
But, one of a few articles that finally tell something right and show the true picture of the things going there, which most of the people in this forum still don't get it.
Blockchain, not Bitcoin
I don't understand why it is so hard to ..
understand!
China was never interested in bitcoin, all they care about is the blockchain, just as there are no shops, there is no usage there is only mining and manufacture of equipment, for them and the people it's not about the principles behind bitcoin it's about profits.
And the leaders think the same, they want something which they can control and make money out of it, and bitcoin comes with way too many disadvantages for their policy.
Long story short, as I said a few days ago, a week ago, a month ago...and so on.
Nothing good for bitcoin will come from China.
Most people do not really understand the difference between bitcoin and the blockchain, they think they are the same thing but we know they are not, and while China is by far the most obvious example of a government that likes the blockchain but doesn't like bitcoin on top of it the truth is that all governments are like that.
They are excited about having a ledger in which all the transactions of their citizens are visible to them, what they do not like in bitcoin is that they do not know who they are and that they do not control the network.
Of course for a heavily centralized like government wont really tend out to accept easily with Bitcoin.They know its disadvantages when they do tend to adopt it.
I dont know why people cant just simply understand on whats bitcoin and whats blockchain tech.Im not already surprised on what would be Chinas decisions towards things.
No matter what they do they cant really able to have a big impact on overall market.