China & The Bitcoin

[Kelvinid]

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've been talking about China for multiple times regarding banning issues, nothing could change their minds, they are all-out war against crypto many years ago. They'll have no interest in crypto since they can't control the market and for the reason also that they are protecting their people against the rise of illegalities by using crypto.

We don't need to ask them for their support, in fact, a lot of countries who are giving their all-out support to the market and that was big enough to help the market to grow.

[hendra147]

China is anti-bitcoin, but does not prohibit bitcoin from being used. China is anti-bitcoin but is very interested in the technology. This is proven by the government's plan to release their yuan digital currency based on the blockchain. I think they would be bad if they refused bitcoin but took the technology. But I've heard the news, that the Chinese government makes digital yuan to dispel bitcoin in widespread circulation in China.

[bounceback]

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 banned many crypto mining companies due to electricity problems, however i think the governments want to take affect on Bitcoin, keep it far from their country.

Apart from electricity problems, there is also the possibility that China has banned bitcoin mining in the country as one of its concerns about the process of making its digital currency, because previously we also heard that they would make their own digital currencies with blockchain technology that can be controlled by organizations center.

[aishteru]

when we say china its only a country,and china is a big place.yes china banned almost everything about crypto but chinese didnt stop at all...most chinese are in taiwan,macau,and hk which is not affected with the crypto banned in mainland.the reason why chinese still holds a big part of crypto world.and china is aware about that so i guess the reason they are interested in making their own blockchain tech and own coin. just like what they did in google,facebook and other social media,they make their own version to still hold and control their people.

[arimamib]

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've been talking about China for multiple times regarding banning issues, nothing could change their minds, they are all-out war against crypto many years ago. They'll have no interest in crypto since they can't control the market and for the reason also that they are protecting their people against the rise of illegalities by using crypto.

We don't need to ask them for their support, in fact, a lot of countries who are giving their all-out support to the market and that was big enough to help the market to grow.

when they make a policy then they will survive with that policy, their political problems that make the rejection of the use of crypto that cannot be controlled by them. and we really have to really understand their policies because so far they are one of the world's giants who can do anything, and in the crypto world they do the same thing.

[btccashacc]

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.

Guess what? they are building their own cryptocurrency (Here's the link : https://www.bloomberg.com/news/articles/2019-08-12/china-s-pboc-says-its-own-cryptocurrency-is-close-to-release) Well it's not only China but also most countries in this world are not interested in the Bitcoin and the Cryptocurrency they just interested on the technology behind the Bitcoin the Blockchain, I think it's normal since most cryptos are decentralized meaning that they can't control it.

[nicolas1979]

China see crypto and blockchain as opportunity to answer economy problems. We know how China develop mining city and their own coin to against bitcoin domination and use it to monopoly merchant payment around the world. This country always take part in every economy progress but the goal is not profit, the answer is position. They want become leader and other country should follow them, I'm not agree with that but that is their policy in economy global.

[FanEagle]

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 don’t think that Bitcoin mining is illegal in China, though they have tried to ban it, from what I’ve learnt, but there is really no reason that they can use to declare it as illegal. So, people are still able to mine Bitcoin, the only problem is exchanges and when there are no exchanges for miners to sell their coins they might get discouraged. And moreover there is going to be a Chinese cryptocurrency very soon, they haven’t announced a particular date but they have made it clear that they are creating their own cryptocurrency and it will soon be released.

China's biggest positive thing is their population and when more number of people from them are believing into the future of cryptos then their government's stand can do anything against bitcoin or crypto space.