As a Chinese, I want to talk about China's ban on cryptocurrency

[btc-room101]

Using more chips and cheaper is a good reason. China is facing a computer chip crisis as there is more demand. Banning cryptocurrencies is also just one of the ways to serve the larger purpose of producing for other industries.

There are two main producers of chips for ASICs and those are TSCM and Samsung, neither of those would divert production capacity to what China needs.
Contrary to the popular belief not everything in this world is made in China by Chinese companies, just how a Huawei phone might be Chinese but the ones manufacturing the chips, the camera, the display are not  

I think that Taiwan is closer to China than the Western mind puts on, should there be a vote, I think most would rather be 'chinese' like HK, or Macau, rather than a whore-house like Manila for USA sailors.

Let's remember here that post WW2 Taiwan was the only place in ASIA for sexpat's white soldier to R&R, as they were  banned from much of asia under chinese control. To this day Taiwan still has its left over 'red zone' from this era,

Lot's Taiwanese want neither, USA nor China occupation.

But the TSMC & bit CHIP factorys of Taiwan, their #1 customer is still asians, for asia; Don't kid your self that the high-tech CEO's of Taiwan if given a last minute choice wouldn't go to China, rather than being destroyed by virtue of location, and returning to being a US-base for sex-pats.

All tech is ASIAN based, the west doesnt' even get considered.

I agree with the first commenter, he was just saying the reason the CCP 'banned' bitcoin is chip shortage, he didn't say that china made all the chips, hes just saying that the ccp wanted the allocation to not go to btc.

With regards to where Taiwan sends their chips, it will be to the GUY with the most MONEY, and that's still china.

All of asia now has chip shortage gpu shortage, hdd shortage, ... everything is not available, even security cam hdd's are now not-avail

So of course the CCP would not allow critical stuff to go to BS like BTC.

The trigger here seems to be "ASICS", and of course BITCOIN, but most ppl now are moving to HDD & GPU mining, and chips are still made in Shenzhen and lots of places in China. I think it can just be said that Taiwan makes the 'best chips' and the smallest nano-meter chips, but they don't make the majority of chips, they don't even have their own sources of raw materials.

Most of the regions rare-earth minerals are in North Korea.

[1715569944]

1715569944

[1715569944]

1715569944

[BIN-BIN]

Governments’ policies on cryptocurrency have minimal impact on the growth and development of cryptocurrency this is so because the government has weak institutions that have failed in many policy executions.

The China ban on cryptocurrency is not taken seriously because the citizens still have access to cryptocurrency through the use of VPN and this is the same with other countries where crypto is banned.

[stompix]

Let's remember here that post WW2 Taiwan was the only place in ASIA for sexpat's white soldier to R&R, as they were  banned from much of asia under chinese control. To this day Taiwan still has its left over 'red zone' from this era,
Lot's Taiwanese want neither, USA nor China occupation.
But the TSMC & bit CHIP factorys of Taiwan, their #1 customer is still asians,

And let's stop here because you posted a lot of totally inaccurate information already.
We have a clear example, the US has told TSMC  to cut ties with Huawei, can you guess what TSMC has told Huawei? It starts with f and it ends with f!
TSMC's largest customer is Apple, with 25% market share, second is Qualcomm and third is Nvidia!

So next time, check the numbers, they tell a totally different story than the one you're trying to picture here.

I think it can just be said that Taiwan makes the 'best chips' and the smallest nano-meter chips, but they don't make the majority of chips, they don't even have their own sources of raw materials.
Most of the regions rare-earth minerals are in North Korea.

Mass production chips are not made out of "rare" materials, and no, NK doesn't hold the biggest reserves, it has fewer than both Vietnam and India and anyhow China tops them all.

[pugss]

There is some social instability, which is why the government is cracking down

[Obito]

Governments’ policies on cryptocurrency have minimal impact on the growth and development of cryptocurrency this is so because the government has weak institutions that have failed in many policy executions.

The China ban on cryptocurrency is not taken seriously because the citizens still have access to cryptocurrency through the use of VPN and this is the same with other countries where crypto is banned.

I am more surprised that Chinese citizens can use a VPN, that's pretty new to me because I know for a fact how heavy the censorship is in the Chinese Internet. I do agree with you about the policy not being taken seriously but we know that if it's there, then it will still be implemented.

[ILuckyGuyI]

China has banned cryptocurrencies again, yeah. But the people of China can still continue to use them via options like VPN I guess. And China's policy about cryptocurrencies is really ridiculous. They are caring about yuan but they are also missing a huge opportunity and power by imposing a ban on cryptos.

[amishmanish]

As everyone knows, the Chinese government has banned cryptocurrency exchanges, and now it has banned mining. The entire market has undergone many changes due to policy reasons.In fact, you should not pay too much attention to the policies of the Chinese government, because since the cryptocurrency exchanges moved out of China, the influence of the Chinese government on cryptocurrencies has become very limited.
You may not know that the Chinese government has proposed no real estate speculation for ten years, but the housing prices in big cities are getting higher and higher, and even restricting purchases and sales is useless.In China’s cryptocurrency circle, everyone silently regards the government’s cryptocurrency policy as a joke.Of course, this is probably just the dealer using China’s bad policy to suppress the price of cryptocurrency in order to get more and cheaper chips.

The problem with China is that nothing coming out of there can be trusted. For example, you may as well be one of their propaganda warriors. Remember "Wolf diplomacy"?

This is what creates so much uncertainty about actions of China as a country and the intentions of there people. The Chinese people have adopted cryptocurrency in a big way but most of them are into Alts. The miners and manufacturers never have had much say in the politics and when they had, it was never for the benefit of Bitcoin. Everybody remembers Jihan and his collusion with BCash during the blocksize debate.

So, in my book, and i believe for a lot of others, China is little more than an uncertainty to BTC. The people live under a regime whose only target is dominance. There is enough evidence in recent history that the Chinese people's will has been broken  by years of communist regime. The Tiananmen massacre was the last time that the Chinese dared to rise. For rest of the time, they have been obedient cogs in the huge machine. From the one-child policy to working for the lowest labor rates in the world to actively doing espionage in western companies and educational institutes on behalf of their governments. Not to forget the COVID fiasco. As a creed of men, the Chinese are so broken that they no longer judge what is right or wrong. They just do as instructed, otherwise risk everything from their reputation in the point system to political disappearances.

So, if you are an actual Chinese trying to start a conversation about Bitcoin, I laud your courage. But it'll take more than a post to convince me that the Chinese can actually have an opinion.

[cryptomaniac_xxx]

As everyone knows, the Chinese government has banned cryptocurrency exchanges, and now it has banned mining. The entire market has undergone many changes due to policy reasons.In fact, you should not pay too much attention to the policies of the Chinese government, because since the cryptocurrency exchanges moved out of China, the influence of the Chinese government on cryptocurrencies has become very limited.

True, it is very limited, but I guess investors thinks that they have the monopoly of bitcoin mining. And as much as we really think that China is irrelevant since 2017, everything news that they releases has somewhat put a dent on the price in the last couple of weeks.

You may not know that the Chinese government has proposed no real estate speculation for ten years, but the housing prices in big cities are getting higher and higher, and even restricting purchases and sales is useless.In China’s cryptocurrency circle, everyone silently regards the government’s cryptocurrency policy as a joke.Of course, this is probably just the dealer using China’s bad policy to suppress the price of cryptocurrency in order to get more and cheaper chips.

Possible, but only a small number of investors see that, and we all know that when China made a U-turn in 2017, it's over for them except bitcoin mining. But if they wlll ban bitcoin mining, then there's no choice for businesses to shift outside to other nation.

[Renampun]

China has banned cryptocurrencies again, yeah. But the people of China can still continue to use them via options like VPN I guess. And China's policy about cryptocurrencies is really ridiculous. They are caring about yuan but they are also missing a huge opportunity and power by imposing a ban on cryptos.

as long as a VPN exists then no country can really block cryptocurrencies...

China is a great country but its greatness still can't block access to cryptocurrencies. Banned cryptocurrencies are just a pointless job and will only be a talk.

[btc-room101]

Governments’ policies on cryptocurrency have minimal impact on the growth and development of cryptocurrency this is so because the government has weak institutions that have failed in many policy executions.

The China ban on cryptocurrency is not taken seriously because the citizens still have access to cryptocurrency through the use of VPN and this is the same with other countries where crypto is banned.

I am more surprised that Chinese citizens can use a VPN, that's pretty new to me because I know for a fact how heavy the censorship is in the Chinese Internet. I do agree with you about the policy not being taken seriously but we know that if it's there, then it will still be implemented.

Just remember that CHINA owns this blog site, essentially that's all u need to know, reminds me of (((...))) bashing on zerohedge, owned by the (((...))); The entire narrative on this site, is focus on anything but the chinese owners of bitcoin infrastructure

China didn't ban crypto, they banned energy waste, big diff

[btc-room101]

China has banned cryptocurrencies again, yeah. But the people of China can still continue to use them via options like VPN I guess. And China's policy about cryptocurrencies is really ridiculous. They are caring about yuan but they are also missing a huge opportunity and power by imposing a ban on cryptos.

as long as a VPN exists then no country can really block cryptocurrencies...

China is a great country but its greatness still can't block access to cryptocurrencies. Banned cryptocurrencies are just a pointless job and will only be a talk.

VPN is just fine in CHINA, all they have done is make it harder for morons to lose family wealth in Crypto gambling. Smart ppl will always be able to bypass anything, by definition, so I beg to ask here on this forum, why are U all so concerned that the morons can't make contact with u?

[yohananaomi]

Using more chips and cheaper is a good reason. China is facing a computer chip crisis as there is more demand. Banning cryptocurrencies is also just one of the ways to serve the larger purpose of producing for other industries.
I think it is better to buy Bitcoin more because China policy only works in the short term and bitcoin is decentralized. There will be a day when the crypto market will not be affected much by news from China.

It must be admitted that maybe that's one reason apart from the others wherein, electricity is also affected as well. but the things that China does it seems not just this once and even though there are disturbances but maybe it will be resolved for some time to come. because we know that China is indeed famous for technology for mining which has indeed become a trend there.
Of course every rule will affect but because the rules are not always certain it will be resolved well and hopefully bitcoin can move up again after bad news that continues to whack with good news.

[Rushzhy]

As everyone knows, the Chinese government has banned cryptocurrency exchanges, and now it has banned mining. The entire market has undergone many changes due to policy reasons.In fact, you should not pay too much attention to the policies of the Chinese government, because since the cryptocurrency exchanges moved out of China, the influence of the Chinese government on cryptocurrencies has become very limited.
You may not know that the Chinese government has proposed no real estate speculation for ten years, but the housing prices in big cities are getting higher and higher, and even restricting purchases and sales is useless.In China’s cryptocurrency circle, everyone silently regards the government’s cryptocurrency policy as a joke.Of course, this is probably just the dealer using China’s bad policy to suppress the price of cryptocurrency in order to get more and cheaper chips.

The problem with China is that nothing coming out of there can be trusted. For example, you may as well be one of their propaganda warriors. Remember "Wolf diplomacy"?

This is what creates so much uncertainty about actions of China as a country and the intentions of there people. The Chinese people have adopted cryptocurrency in a big way but most of them are into Alts. The miners and manufacturers never have had much say in the politics and when they had, it was never for the benefit of Bitcoin. Everybody remembers Jihan and his collusion with BCash during the blocksize debate.

So, in my book, and i believe for a lot of others, China is little more than an uncertainty to BTC. The people live under a regime whose only target is dominance. There is enough evidence in recent history that the Chinese people's will has been broken  by years of communist regime. The Tiananmen massacre was the last time that the Chinese dared to rise. For rest of the time, they have been obedient cogs in the huge machine. From the one-child policy to working for the lowest labor rates in the world to actively doing espionage in western companies and educational institutes on behalf of their governments. Not to forget the COVID fiasco. As a creed of men, the Chinese are so broken that they no longer judge what is right or wrong. They just do as instructed, otherwise risk everything from their reputation in the point system to political disappearances.

So, if you are an actual Chinese trying to start a conversation about Bitcoin, I laud your courage. But it'll take more than a post to convince me that the Chinese can actually have an opinion.

You are right, but most of the statements you see are those of the government. Although VPNs can be used for most Internet names in China, it is very troublesome. Most people still don’t want to use them, so that you always think that Chinese people are like Like spokespersons, they like to express their opinions on behalf of 1.4 billion Chinese people, but you can’t hear the voices in China, because there are always people who say that you can’t represent all the Chinese people. Can you speak on behalf of your family? The child discusses not to mention representing all Chinese people. So not all Chinese people are as hostile to people as you can see, and there is no logic in answering reporters’ questions. Most Chinese people are very friendly, but they are represented by a small number of CCP staff. In addition, the incident you mentioned , We will never forget, because at the University of Hong Kong we still have a monument.

[22bits]

I wonder the overall impact of the mining ban, first off people can still access bitcoin via a vpn but will everyone really be forced to shut down all mining, will there be 100% compliance?  I guess the mining will all move overseas.  Secondly the BTC price took a hit, but will the ban really negatively impact the bitcoin ecosystem if mining has to move, as other countries (El Salvador) are starting to be more supportive? 

[Rushzhy]

I wonder the overall impact of the mining ban, first off people can still access bitcoin via a vpn but will everyone really be forced to shut down all mining, will there be 100% compliance?  I guess the mining will all move overseas.  Secondly the BTC price took a hit, but will the ban really negatively impact the bitcoin ecosystem if mining has to move, as other countries (El Salvador) are starting to be more supportive? 

Regarding the question of whether you are 100% qualified, I want to say that there are a lot of non-compliant places in China, but because of the centralized government, people have no way to do it in the country. Just like North Korea, many things are not compliant, but people there still There is no way. As you said, many mines are moving overseas. Due to COVID-19, the border is blocked, and the transfer of mines is relatively slow. The only way to transfer equipment is to find an agent aboard. Way to solve.