China & The Bitcoin

[piebeyb]

but they are not anti-blockchain even though they are anti-crypto that does not mean they hate it, if it hates it maybe their government will ban all people immediately away from crypto or give severe sanctions to those crypto users, my thinking is that they haven't learned at least a little about crypto or maybe they are really worried that crypto will destroy their fiat currency, if they are never anti-crypto maybe everything will embrace each other to make the future of this technology better, their thinking is still old-fashioned and to be honest they are usually experts in plagiarism so they will make a currency digital for themselves without having to have other crypto like Bitcoin

[danherbias07]

Bitcoin has its own features that cannot be erased.
Yes, they can regulate it and even ban it in their country but that doesn't mean it cannot be used or be a store of value by someone.
Mostly, it is prohibited by usage. Just like how smoking is banned. It can just be used in a "smoking area".

It is the government which oppose the to features of bitcoin specially the privacy.
See about the type of government they have and you will understand why.

[Eugenar]

it's true that China is a country that wants to dominate the economy of the whole world, we know the biggest mining is in China, but the government bans cryptocurrency, I think this is just a strategy because they don't want to be controlled by other parties, it is likely to make their own crypto

Basically it is totally different to consider only mining and not the entire domination of bitcoin to their country. Cryptocurrency is powerful and they know that, and thinking about the fact that mining is a good business where government and their economy could also benefit, it doesn't necessarily mean they need to adopt cryptocurrency. China is taking step little by little, and they know what to do and how to control their people for good governance because their population needs to be taken care of seriously.

[Dart18]

They will not use bitcoin. That is what I know. It is too private for them and they don't like it.

That is why the Chinese President already announced the adaption of blockchain but never mentioned bitcoin.
A government money just like fiat but can be used digitally.
I don't think they will ever let any other crypto currencies be used in their homeland.

[itchycoin]

China is anti bitcoin for already several years. If they continue to only talk about it than nothing sirous will happen. But real ban will cause great dump in crypto space

[White Christmas]

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

We already know that the country China is an anti bitcoin way back then but we also heard that the president of China announced that they are open to accept the blockchain technology as well as they open that they are already become one of the front line of the cryptocurrency all over the world. China is one of the biggest bitcoin mining all over the world in which they also have a lot of hashing in terms of cryptocurrency and bitcoin as well.
Although China is an anti bitcoin they already has a lot of hashing because as like as what I have been said they are the one who has the biggest bitcoin mining.

[bitcoindusts]

China is anti bitcoin for already several years. If they continue to only talk about it than nothing sirous will happen. But real ban will cause great dump in crypto space

I do not think there will be a great dump in crypto space if China bans Bitcoin.  As far as I know, China maybe friendly towards Blockchain tech but they are already hostile to Bitcoin so if ever they decided to ban Bitcoin, I believe there is very little difference on what they have done before.  The effect will possibly be the opposite because people tends to rebel when being suppressed.

[Artemis3]

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

I think its more accurate to say anti freedom. The Chinese State does not want something they cannot control, remember the State and politicians are control freaks. They want the POWER to change the coin rules at anytime to suit their needs (this occurs in most countries, not just China, but they are one of the most honest about it.

See, just cloning Bitcoin and renaming it wouldn't just do, they want back the ability to create as many as they want on a whim, they don't want others not them controlling it, exactly like Venezuela did to Petro (from Dash).

Mining is a bit different because to them its just another commercial (export) activity that produces wealth. They would be fools to stop that, as long as the miners pay the electricity and associated taxes.

It is also true that some private entities are moving virtual money (electronic payment), maybe they also want to end those because its no in their direct control.

Tokens were banned first probably because there were so many scams associated with them, but that very old news. Bitcoin is another matter altogether, but a country cannot adopt it without willing to surrender their gov control of the money, which is a huge step in freedom. A coin that cannot be devalued is a coin that the Chicago school of economy fears, because it will lead to deflation. Therefore unless you study and adopt the Austrian school of economy and drop the other one, you will never understand how a world economy can function with it. Most economists and politicians only know the Chicago school (or worse, Keynes, Marx, etc). Even people in this forum are mostly unaware of the Austrian school and are fearful of deflation, because they don't know any better.

Study Mises, and clear your doubts. The economy CAN function with a coin that does not lose value over time: https://mises.org

[joinfree]

I don't know why this question seems to be asked several times over and over again yet carrying the same theme. China may not approve of Bitcoin but the cost of energy and other expenses required in setting up a mining rig is far cheaper in China than any country hence the reason why most mining farms have set up there

[JC btc]

I don't know why this question seems to be asked several times over and over again yet carrying the same theme. China may not approve of Bitcoin but the cost of energy and other expenses required in setting up a mining rig is far cheaper in China than any country hence the reason why most mining farms have set up there

Maybe because it is still circulating over the internet that's why there's still a lot of newbies still curios and besides this has been the way of other people to FUD by telling everyone that Bitcoin will be banned in China, or has been banned, sometimes due to this news you will be really panic.

[BeManga]

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

China has the highest population in the world and its look like china also have the highest bitcoin user
bitcoin user in China is also one of those who start to build pool and mining farm early it not really a surprise if they have a lot of hash rate

[agentx44]

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

Maybe that is what the news want the world to know. We cannot really be certain that China is anti bitcoin that's why we should never jump into conclusion and if that's the case, we will see the effect as soon as possible. China is a very rich country and it contributes largely in crypto so instead of thinking and claiming that it is anti bitcoin, we should hope that it is pro bitcoin and is looking forward on helping bitcoin and other crypto even more than ever.

[GideonGono]

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

It will affect the price on what China do because there are a lot of investor China have from crypto so they are the one who has or who can manipulate the price. Even the China was anti bitcoin we can still wait until a lot of person do know about crypto for the price to rise. Bitcoin was not focus on China so it can gain or recover as much as possible.

[cotton ball]

China still low respond about when adopted bitcoin again, will last news by China president only gibe announcement to make many people become interested with bitcoin? I think when China have accepted bitcoin as legal currency become most bigger competitor for United State and other country because bitcoin will be popular than other fiat currency payment.

[Bonenx14]

Seemingly in the news we hear how China is anti Bitcoin and anti cryptocurrency and well that may be all well and true but for an anti Bitcoin Country they sure do have lots of hash. In the Top 10 mining Pools in the world China has around 4 maybe even more. Which comes to the question what is really going on in China & The Bitcoin. As usual thoughts and comments are more than welcome. Thanks.

It will affect the price on what China do because there are a lot of investor China have from crypto so they are the one who has or who can manipulate the price. Even the China was anti bitcoin we can still wait until a lot of person do know about crypto for the price to rise. Bitcoin was not focus on China so it can gain or recover as much as possible.

China is one of the giants in the world, especially in bitcoin because government regulations there could have an impact on the market because people will be provoked by a lot of news that is happening in China, good news and bad news can affect people and the impact will be very seen on the market

[acdc]

I think China is not against bitcoin, it's just against using bitcoin as a currency and criminals using bitcoin as a means of them.
In China the possession of cryptocurrencies is legal and protected by law, but it will be long before China accepts to treat bitcoin as a currency.

[cotton ball]

I think China is not against bitcoin, it's just against using bitcoin as a currency and criminals using bitcoin as a means of them.
In China the possession of cryptocurrencies is legal and protected by law, but it will be long before China accepts to treat bitcoin as a currency.

China have planning for launching their own coin and make popular bitcoin as currency digital payment there will increase by their own new coin, just still planning schedule by China but still not have update time when they will launch their coin to public and investor can buy their coin, but when China really want to created new coin maybe bitcoin get great competitor and could change bitcoin price later.

[Darooghe]

China is about to head into a time of economic crisis. The government knows this and will require the masses to shoulder the financial hardship to come. This can only be implemented if the masses are tied to the Renminbi. If the masses can escape their fate by moving their wealth and transactions into Bitcoin and Cryptocurrencies it is the state that will bare the burden instead. Hence, In my opinion, until China shuts down mining and mining equipment production they are not banning cryptocurrencies. However, If they did this the Cryptocuurencies would survive.

[sovie]

If I am not wrong Google, Facebook and Youtube all are banned in china ( Why Are Google Facebook And Youtube Blocked In China - Decode China ). One of the main reason apart from censorship is that china don't want its capital to go out of the country. How can China allows a decentralized currency thats not in there control and with which capital can be very easily moved out of the country?

[bettercrypto]

If I am not wrong Google, Facebook and Youtube all are banned in china ( Why Are Google Facebook And Youtube Blocked In China - Decode China ). One of the main reason apart from censorship is that china don't want its capital to go out of the country. How can China allows a decentralized currency thats not in there control and with which capital can be very easily moved out of the country?

I think the reason is also that the social media apps are threat with their security. Just like what America did in Huawei, they thought that it was a spy.
Maybe, it is a political issue but banning of bitcoin would be a big mistake for every country. If they think that bitcoin gives only a harm to the people then they are wrong. Bitcoin is a new type of currency and it will be a trend in whole world soon.