Why is Bitcoin a threat to China? Is China deliberately imposing sanction on BTC

[adzino]

Obviously they are deliberately imposing sanctions on bitcoin. Look at China. Total control freak nation. They like to control their people. If their people start using bitcoin, the government won't have a chance to bring them under total control. Hence they make up stories like how bitcoin is a scam and a danger to their people. They are also making their own "crypto currency" - digital yuan. Bitcoin is a direct competitor over here. So they are just eliminating competition from their country.

[BuNga_cute]

Yes, I think this is only temporary, because China’s current demand is to ban cryptocurrencies, but the future may be different. The law is a manifestation of power, and we will wait and see.

China many time said that Cryptocurrency is illegal and we will banned cryptocurrency and cryptocurrency releted all transaction from chaina. It is not new, i don’t know that, why they always create a panic news in market, i think Their target is something other.           

China banning cryptocurrencies is not new, almost every year they say they will ban Bitcoin. And we know China is a country that wants to control
all the activities of its citizens, so for the Chinese government Bitcoin is a threat. Because we know that Bitcoin, which is decentralized, is very difficult
to control by the Chinese government, so for the Chinese government Bitcoin is not something that sounds good. Moreover, they really think Bitcoin
can be dangerous for the digital money they have created, so China's goal of banning crypto is to fully control its population.

[Hippocrypto]

I've seen a huge rivalry here, and with China's plan to sanction btc I guess they're controlling their people to adopt their own digital currency. But they couldn't force their residents because Bitcoin in the first place runs through Blockchain and can be accessed anonymously.
Freedom is there in cryptocurrency, and even they're trying more blockage just to stop their countrymen adopting bitcoin as their alternative in getting passive income; I guess they'll be failing so many times.

[Alf_m.h]

you can see how this affects the decline in BTC prices, a thing or news that brings trust and confidence to the people, should be given in balance.

Wasn't the news said to be fake since it was just a rumors, and even though it's something china is hoping on doing or has already done, it won't be their first time banning Bitcoin related activities. The decline in prices are caused by manipulations from the whales hoping to capitalized on the fud currently ongoing in the community. Give Bitcoin couple of weeks, it'll recover and even be trading more than the price it was when the news broke.

but what I hope is that the balance of coins and the durability of BTC unravel here, there are some that affect the fundamentals, whether it's hoax news, we know gold when the transition from storage to exchange was hit by hoax news but they don't budge and are stable, now is the time where BTC becomes a world medium of exchange began to be hit by the issue of what is his position?
That's why the need for balanced news and the influence of price fluctuations.

[XCANA]

Why is Bitcoin a threat to China? Is China deliberately imposing sanction on BTC

China has always imposed sanctions on bitcoin and China has always called it a conspiracy. China believes that if the world became rich because of bitcoin, no country would need China. This is because people will become economically prosperous, which will reduce their dependence on China. On the other hand, members of the Chinese Communist Party are very interested in bitcoin. I don't think that China will ever call the bitcoin a legal currency, but a time will surely come when China will have to trade by buying bitcoins from the world. Because how long can China trust banks? As the banks may start printing a lot of money which will increase the inflation and people will be forced to move to Dogecoin. If this happens then everyone will be forced to accepting cryptocurrency and The inflation of the dollar will be as much as the amount of tokens like Shiba Inu.

China is not the only country in the world that has ban Bitcoin and crypto currency activities and each of those countries has their reason for doin so. I don't think any other can just become reach just because of the adoption of Bitcoin and crypto currency in general, and I don't think your reason is correct. China today is growing economically on knowledge base and that is why they a producing country and not consuming country like others.

[Luzin]

Obviously they are deliberately imposing sanctions on bitcoin. Look at China. Total control freak nation. They like to control their people. If their people start using bitcoin, the government won't have a chance to bring them under total control.

This has been repeated, seems the mode is the same. They want cheap bitcoin prices, to buy them again. The reason is that their currency will be threatened because of BTC. So they take advantage of this moment, to get an advantage. I can't be sure but it keeps repeating bad news and then good news, like it keeps repeating.

[tvplus006]

Why is Bitcoin a threat to China? ...

It is no secret to anyone that the Chinese government is threatened by everything that they cannot control. Accordingly, bitcoin, as a truly decentralized coin, cannot be controlled by anyone, which is why the digital yuan was created in China. And now all decisions are aimed at ensuring that no one has the opportunity to use cryptocurrency in China except for the digital yuan.

[Silberman]

This China issue now, I believe it is just temporary. It's just like, "At first, they will hate you, but later on, they will join with you", "If you can't beat them, join them".

I don't find any negative effects on Bitcoin for this China issue for the long term, yes it may affect the price because of the news and other Bitcoin holders that don't believe for long term of Bitcoin could panic sell.

What is odd about all of this is that earlier on the life of bitcoin a great deal of the support for it came from Chinese citizens, it was not a secret that the majority of the hash rate was there and there was thriving exchange industry as well, from a historical point of view it would be interesting to know what changed? China back then was miles ahead of any other country and then the government decided to change course and cost themselves a lot of money in terms of taxes and the opportunity cost they will suffer by not being part of the bitcoin economy.

One possible answer to this was the potential freedom their citizens will get with bitcoin and without a doubt this would be risky for an authoritative government, but even then the potential was enormous and now it seems they will miss the revolution that is coming.

[Viscore]

This China issue now, I believe it is just temporary. It's just like, "At first, they will hate you, but later on, they will join with you", "If you can't beat them, join them".

I don't find any negative effects on Bitcoin for this China issue for the long term, yes it may affect the price because of the news and other Bitcoin holders that don't believe for long term of Bitcoin could panic sell.

What is odd about all of this is that earlier on the life of bitcoin a great deal of the support for it came from Chinese citizens, it was not a secret that the majority of the hash rate was there and there was thriving exchange industry as well, from a historical point of view it would be interesting to know what changed? China back then was miles ahead of any other country and then the government decided to change course and cost themselves a lot of money in terms of taxes and the opportunity cost they will suffer by not being part of the bitcoin economy.

One possible answer to this was the potential freedom their citizens will get with bitcoin and without a doubt this would be risky for an authoritative government, but even then the potential was enormous and now it seems they will miss the revolution that is coming.

If China had thought that before taking the action, then it would not come to a point that they will miss the revolution that is coming. Maybe this is just part of the plan, and when everything seems to be discouraged on crypto because of their continuous bannings, then that will be the perfect time that they will start to acquire lots of bitcoin.

However, one thing also that they are doing this is because they want to give more credits to their own digital currency and through giving sanctions to bitcoin, Chinese citizens will be threaten to stop accumulating bitcoin and focus on yuan as their own digital currency.

[southerngentuk]

I just ask myself are they committed to their word and when will they accept it again
The way I'm looking at this is a bit humorous, that the FUDs only slow down the process and can't stop the target it's creating.
I have read a lot of information about their government owning a large amount of bitcoin, and preventing but still holding a lot

[martina14]

Why is Bitcoin a threat to China? Is China deliberately imposing sanction on BTC

China has always imposed sanctions on bitcoin and China has always called it a conspiracy. China believes that if the world became rich because of bitcoin, no country would need China. This is because people will become economically prosperous, which will reduce their dependence on China. On the other hand, members of the Chinese Communist Party are very interested in bitcoin. I don't think that China will ever call the bitcoin a legal currency, but a time will surely come when China will have to trade by buying bitcoins from the world. Because how long can China trust banks? As the banks may start printing a lot of money which will increase the inflation and people will be forced to move to Dogecoin. If this happens then everyone will be forced to accepting cryptocurrency and The inflation of the dollar will be as much as the amount of tokens like Shiba Inu.

We don't know what's in the mind of the government in China, just all I can say about this situation is that it could be their way to invest more into Bitcoin, they're maybe doing this to dump the market price value then once the price goes down rapidly according to their plan, they will buy a huge for sure. This is just my thoughts in regardless of what their doing it now.

[Ararbermas]

I believe bitcoin is not a threat in china before wherien it's just at this point because of having their own digital currency main reason they backed out and decided to ban it within the country , and probably they want to take the crown of bitcoin reason they want keep posting negative stuff about it just to get more attention in the internet as well.. A great technique if i'm not mistaken because you know after all their efforts posting negative instead of going dip bitcoin surge. 

[so98nn]

I don’t think bitcoin can make anyone prosperous. The statement of yours is little controversial. If you ever give away 10,20,40 lbs of gold to someone then also we are not sure if that person will use it wisely or not and he may end up loosing it all on leisure and May fail to reinvest and grow it.
Bitcoin is no different.

Even if Chinese peeps started using bitcoin then it’s not a guarantee that they will make good fortune out of it. Many peeps still struggle to use bitcoin in day to day life because of its poor infra and non-instant nature.

The main reason I see here is dominance of Yuan which is dream of China and their dictatorship leaders.

[Zilon]

Definitely a time will come when china will have to trade this very Bitcoin they have sanctioned on several occasions and I believe their reason for very act of sanctioning this coin should be because china is been scared of how much control it's citizens will get from Bitcoin due to its decentralized nature. For this sanction is no longer a threat to Bitcoin price so I don't really treat it as important

[Taskford]

Its hard to think that bitcoin is a threat of china since if they really think about that way they will not buy a huge volume of bitcoin in the first place, maybe you can say because they released so many news about banning but I don't think they will impose it forever since their main intention is to manipulate the market. I will only believe that they will see it as a treat if they dump all of their bitcoins and leave the industry totally and imposed a hard ban unto this.

[Mahanton]

Why is Bitcoin a threat to China? Is China deliberately imposing sanction on BTC

They dont like centralized things as simple as that.Knowing that China is a powerful country which they are a communist type of government which it isnt surprising that they do love on everything to be tracked or controlled
and now that bitcoin had really made out things possible which cant really be controlled nor be traced on where China did really have some bad views and impressions on it.They do even create digital yuan which do signifies that they are sticking with centralization.So its better to get yourself get used into things whatever China would make out decisions.

[tvplus006]

...They do even create digital yuan which do signifies that they are sticking with centralization...

Digital yuan is another form of money and is in circulation along with cash and non-cash yuan. Therefore, a centralized digital yuan cannot compete with a decentralized bitcoin, despite all the restrictions imposed by the Chinese government. But the citizens of this country will have to comply with government decisions if they want to be law-abiding.

[Silberman]

...They do even create digital yuan which do signifies that they are sticking with centralization...

Digital yuan is another form of money and is in circulation along with cash and non-cash yuan. Therefore, a centralized digital yuan cannot compete with a decentralized bitcoin, despite all the restrictions imposed by the Chinese government. But the citizens of this country will have to comply with government decisions if they want to be law-abiding.

Exactly, this is just another form of protectionism and nothing more, the Chinese government knows that if they actually let people choose between their digital currency and bitcoin they will choose bitcoin, in almost any other industry or business this will force the company at a disadvantage to improve their product or to lose against the superior option, but we are taking about governments here, and they make the rules so it is obvious they are trying to rig the game in favor of their currency, and even then I do not think this is going to be enough to help them win the war against bitcoin.

[otundebis]

China is big controlling machine,  anything China can not control will be removed from the people.  China controls her citizens thought,  way of life even personal decision like how many children you want to have.  Bitcoin is of the most liberating asset,  and China can not let her people be liberated!

[crzy]

China is big controlling machine,  anything China can not control will be removed from the people.  China controls her citizens thought,  way of life even personal decision like how many children you want to have.  Bitcoin is of the most liberating asset,  and China can not let her people be liberated!

This is the simplest answer to OP, everything is a threat to China especially if they can’t control it and this is also why they created their own Digital Yuan so they can prevent their people from using cryptocurrency. China is a big FUD, they spread lies and negative news about Bitcoin fortunately, this market is still strong even without China and we are still moving forward and keeps on rising.