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

[Silberman]

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.

The worst part of all of this is that we know that this is never going to work, it is true that we are being monitored more than ever even in countries that supposedly love freedom but it is nowhere near as extreme as what it is happening at China, and this means that at some point people are going to get tired about what is happening and they will begin to challenge the government on their decisions, they will not do so openly as that would be dumb, but they will do so by maintaining possession of their coins and by making use of technologies that assure them to get some level of freedom they cannot get otherwise.

[Botnake]

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.

The worst part of all of this is that we know that this is never going to work, it is true that we are being monitored more than ever even in countries that supposedly love freedom but it is nowhere near as extreme as what it is happening at China, and this means that at some point people are going to get tired about what is happening and they will begin to challenge the government on their decisions, they will not do so openly as that would be dumb, but they will do so by maintaining possession of their coins and by making use of technologies that assure them to get some level of freedom they cannot get otherwise.

It will probably happen if the Chinese government will continue to release sanction on btc and its holders and users. But i don't think this will take so long because i believe that China is a source of FUDs, and they have been making that since they discovered that bitcoin could be a source of economic stability that will eventually turn a country into a successful and progressive one. So from then on, bitcoin has become a big threat to China. But we also know deeply that China has been threatening bitcoin because of that. But lately, seems the market has been used to it and bitcoin is no longer affected with these FUDs anymore.

[Shenzou]

Probably the reason why bitcoin has became a threat in china is due to the fact that it gave too much freedom, bitcoin has been very popular among Chinese since they hold the highest mining rate in the world and the were able to use it freely and not having to worry about the government, but because of that and because of how they can't hold control over the bitcoin network and we all know how the Chinese need to have always be tracking their people's movements and actions, it posed a threat that needed to dealt with before it got more popular.

[proTECH77]

Bitcoin has gone to far for any centralized currency to threat. Even the digital Yuan China has legalized in their country, it cannot withstand bitcoin in the areas of pumping in the exchange market. During the covid-19 virus that generated from China which took many life in the world base on the spreading of the virus. Many things where affected negatively include their currency that was devalue in the process of the pandemic that was giving so much joy to bitcoin traders for the massive pumping during the lockdown that made many citizens to seat at home because of the virus that was spreading in different communities.
Despite China has legalized their digital currency in the country, many traders will still prefer to trade with crypto than digital Yuan.

[michellee]

Probably the reason why bitcoin has became a threat in china is due to the fact that it gave too much freedom, bitcoin has been very popular among Chinese since they hold the highest mining rate in the world and the were able to use it freely and not having to worry about the government, but because of that and because of how they can't hold control over the bitcoin network and we all know how the Chinese need to have always be tracking their people's movements and actions, it posed a threat that needed to dealt with before it got more popular.

Maybe that is the reason why China government does not like bitcoin and tends to prohibit bitcoin. But hopefully, that is wrong because we do not know if that is just camouflage to other countries that they do not like bitcoin. We do not know if their government uses bitcoin secretly without anyone knows and their people still mine bitcoin under the government radar. If they really do not like bitcoin, then that will not be a problem because the other countries will still support bitcoin. And if the China government still does not allow their people to use bitcoin, they will regret it when the situation changes in the future.

[justdimin]

Maybe that is the reason why China government does not like bitcoin and tends to prohibit bitcoin. But hopefully, that is wrong because we do not know if that is just camouflage to other countries that they do not like bitcoin. We do not know if their government uses bitcoin secretly without anyone knows and their people still mine bitcoin under the government radar. If they really do not like bitcoin, then that will not be a problem because the other countries will still support bitcoin. And if the China government still does not allow their people to use bitcoin, they will regret it when the situation changes in the future.

Tax evasion is a serious threat in the crypto world, if you could somehow put your money into crypto before you put it in any legal place, then you could avoid taxes as long as you do not claim that money. Since crypto is also something that is profitable to hold for long term, many very wealthy people could maybe use it to put their crypto in hidden wallets and protect their wealth without paying taxes at all.

I do not know how long that will go on, there could be some people who will get caught eventually. China wanted to prevent that beforehand, they are a dictatorship and people hiding their money is not something they could allow, that would look like weakness and they couldn't allow to look like they have a weakness.

[michellee]

Maybe that is the reason why China government does not like bitcoin and tends to prohibit bitcoin. But hopefully, that is wrong because we do not know if that is just camouflage to other countries that they do not like bitcoin. We do not know if their government uses bitcoin secretly without anyone knows and their people still mine bitcoin under the government radar. If they really do not like bitcoin, then that will not be a problem because the other countries will still support bitcoin. And if the China government still does not allow their people to use bitcoin, they will regret it when the situation changes in the future.

Tax evasion is a serious threat in the crypto world, if you could somehow put your money into crypto before you put it in any legal place, then you could avoid taxes as long as you do not claim that money. Since crypto is also something that is profitable to hold for long term, many very wealthy people could maybe use it to put their crypto in hidden wallets and protect their wealth without paying taxes at all.

I do not know how long that will go on, there could be some people who will get caught eventually. China wanted to prevent that beforehand, they are a dictatorship and people hiding their money is not something they could allow, that would look like weakness and they couldn't allow to look like they have a weakness.

Yes, that is because if someone is doing illegal activity, they can easily send the "hot money" to the crypto and keep it in a separate wallet and we know that we have so many wallets that give that function. I guess the government is already searching for people related to crypto and asking them many questions related to crypto. And maybe the government decide to watch close to that people so they can know what their activity.

China's government, with its power, can make sure they can monitor all activity of their people because they want their people to follow their rules and not trying to do something that they do not like. They will hide their weakness from all, including other countries, to see that China is a strong country. But hopefully, they will realize that their people need something better for their lives and allow people to do something that can benefit them.

[Kasabus]

Probably the reason why bitcoin has became a threat in china is due to the fact that it gave too much freedom, bitcoin has been very popular among Chinese since they hold the highest mining rate in the world and the were able to use it freely and not having to worry about the government, but because of that and because of how they can't hold control over the bitcoin network and we all know how the Chinese need to have always be tracking their people's movements and actions, it posed a threat that needed to dealt with before it got more popular.

Maybe that is the reason why China government does not like bitcoin and tends to prohibit bitcoin. But hopefully, that is wrong because we do not know if that is just camouflage to other countries that they do not like bitcoin. We do not know if their government uses bitcoin secretly without anyone knows and their people still mine bitcoin under the government radar. If they really do not like bitcoin, then that will not be a problem because the other countries will still support bitcoin. And if the China government still does not allow their people to use bitcoin, they will regret it when the situation changes in the future.

There's always  a big reason why they keep on hating bitcoin, maybe its the thing that they can't hold onto, or they think that bitcoin has made borderless transactions already without them knowing. And possibly tax evasion could be the best reason too why holders and users keep them secretly without the government's awareness.

However, this is not new to us as this has been happening since they found out that bitcoin has been adopted already with some countries that are experiencing financial stability after that. Just imagine how this selfish country would feel.

[mamesso]

The reason China prohibit Bitcoin trading in their country is because the existence of Bitcoin disrupts the Chinese economic order. Other than that, investors from China were also ordered not to make speculative transaction against Bitcoin. This is China latest attempt to clamp down on burgeoning digital transaction.
The Chinese government also highlighted the risks of trading cryptocurrency, according to them cryptocurrency are not backed by real value, values ​​are easy to manipulate, and trade contracts are not protected by regulation in China. Seeing China's stance that strictly prohibits bitcoin, it seems that Bitcoin and China are two things that cannot be combined.

[milewilda]

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.

Doesnt only apply on China but also in other countries as well which are heavily regulated where Bitcoin or decentralization itself is a threat because government doesnt really like for things that wont
able to be traced up or cant be viewed or be known that they do like thats why some government cant really still be sure whether they do still remain neutral with bitcoin or crypto or would totally
impose bans and restrictions due to that characteristics.China isnt the first time on making out these kind of decisions where they do make out bans and later on they do lift up the ban
and then later on they do it again..Get used to it because they do really have that kind of behavior.

[michellee]

Probably the reason why bitcoin has became a threat in china is due to the fact that it gave too much freedom, bitcoin has been very popular among Chinese since they hold the highest mining rate in the world and the were able to use it freely and not having to worry about the government, but because of that and because of how they can't hold control over the bitcoin network and we all know how the Chinese need to have always be tracking their people's movements and actions, it posed a threat that needed to dealt with before it got more popular.

Maybe that is the reason why China government does not like bitcoin and tends to prohibit bitcoin. But hopefully, that is wrong because we do not know if that is just camouflage to other countries that they do not like bitcoin. We do not know if their government uses bitcoin secretly without anyone knows and their people still mine bitcoin under the government radar. If they really do not like bitcoin, then that will not be a problem because the other countries will still support bitcoin. And if the China government still does not allow their people to use bitcoin, they will regret it when the situation changes in the future.

There's always  a big reason why they keep on hating bitcoin, maybe its the thing that they can't hold onto, or they think that bitcoin has made borderless transactions already without them knowing. And possibly tax evasion could be the best reason too why holders and users keep them secretly without the government's awareness.

However, this is not new to us as this has been happening since they found out that bitcoin has been adopted already with some countries that are experiencing financial stability after that. Just imagine how this selfish country would feel.

Yes, you are right. We do not know why they do not like bitcoin, so they still spread FUD to the crypto world. Maybe there is another thing behind the tax evasion that they still hide from us but no matter what it is, the show must go on and bitcoin will be global, whether with or without them.

Whether they are new or old in the bitcoin world, we can hope that people will not affect whatever they will spread in the future and will still calm down. Maybe one or more people will panic but the rest of us will remain calm while waiting for the next thing that can happen.

[sujonali1819]

Every Year they come with some such bad news about Crypto Ban in China. This time they also don't forget to do that. But I don't think it will alive for long time. It's just temporary and I think this will solve or the effectivity will less day by day. Btw Bitcoin don't care the china fraud anymore. So don't worry about it.

[EdenHazard]

Probably the reason why bitcoin has became a threat in china is due to the fact that it gave too much freedom, bitcoin has been very popular among Chinese since they hold the highest mining rate in the world and the were able to use it freely and not having to worry about the government, but because of that and because of how they can't hold control over the bitcoin network and we all know how the Chinese need to have always be tracking their people's movements and actions, it posed a threat that needed to dealt with before it got more popular.

lol, i can only say lol.

china are indeed against any form of freedom and since bitcoin itself as a symbol of a freedom and actually it is. of course they will do anything to de-freedomination lol, this statement from you just really makes sense to me personally. thats why i used lol so much this time lol.
its just like a funny statement but damn true.
they ban bitcoin now and fully legalized it tomorrow, typical china.

[tulusikhlas]

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.

Such is the character of China, which is greedy for all economic markets, not only in the digital industry, such as the eye, they also do not want other economic sectors to rival China. It is unfortunate that the world has awarded China with the most authoritarian system of government. The role of the US is getting weaker, then with the existence of a very large Chinese FUD it is clear that China does not want cryptocurrencies to shift its position. I hope China realizes what it is doing has harmed many human beings around the world.

[passwordnow]

I have seen a picture about the number and list of those that own a lot of bitcoin and IIRC, China is the second on it. I'm not sure if that image was an actual statistic of the whales that own bitcoin and if that's for real. Then it only means that China is accumulating with every FUD that they make. While they're sending that FUD to the world, they're taking care of those bitcoins at the cheap price being sold by those people that have panic sold.

[Kittygalore]

It's not a threat to them, they're antagonizing bitcoin because they have a stake in bitcoin. They manipulate the market because they know that they can do this, there's a reason why the big FUDs come from them because that's how they move the market.

[so98nn]

Every Year they come with some such bad news about Crypto Ban in China. This time they also don't forget to do that. But I don't think it will alive for long time. It's just temporary and I think this will solve or the effectivity will less day by day. Btw Bitcoin don't care the china fraud anymore. So don't worry about it.

Exactly, there is nothing new about the china. I am not sure how many china threads we have but I have said this before too. China only will get into those things which are very important to them and their nation. They just want to develop their nation (or may be few billionaires) and get rid off those things which they are unable to control. As of now they understand very well that bitcoin is no place for the China to enter even after they had the biggest operation of mining on their soil. Unfortunately it had negative effect on them and they had to take it down due to blackouts. The later also seems to be conspiracy to me so that no one can laugh on them. Lolz. Moreover if they impose it or not does not matter, BTC is still healthy and with the current bull I see BTC already shown it's power. 

[traderethereum]

It's not a threat to them, they're antagonizing bitcoin because they have a stake in bitcoin. They manipulate the market because they know that they can do this, there's a reason why the big FUDs come from them because that's how they move the market.

They already manipulate the market and spreads FUD to the public and make people panic.
But that strategy will not work forever because people will think that they only want to benefit from the crash.
Maybe every year, they will use different news to make the market crash to use the moment to buy bitcoin because the bitcoin market can get down because of their news.
I believe the market will be back to normal and will have a chance to lift the high price.

[RealMalatesta]

I am not sure how many china threads we have but I have said this before too. China only will get into those things which are very important to them and their nation. They just want to develop their nation (or may be few billionaires) and get rid off those things which they are unable to control. As of now they understand very well that bitcoin is no place for the China to enter even after they had the biggest operation of mining on their soil. Unfortunately it had negative effect on them and they had to take it down due to blackouts. The later also seems to be conspiracy to me so that no one can laugh on them. Lolz. Moreover if they impose it or not does not matter, BTC is still healthy and with the current bull I see BTC already shown it's power. 

No other nation controls bitcoin too, can't they realize that. When we are talking about USD getting more famous, I totally understand them not wanting something like that, when it is euro or pound or whatever I get it. However, bitcoin doesn't belong to anyone, so it wouldn't really hurt them.

It is really weird how tough they are ruling that nation, I wouldn't even imagine living in a nation like that, even if it was a good nation to live in which it isn't, having your freedoms blocked as bad as ccp blocks Chinese rights, it would be horrible even if I was a billionaire, which Jack Ma proved that it is not even good to be a billionaire there. All in all crypto is far better without them, and I am happy that they keep doing FUDs in their nation, let Chinese people be behind on crypto.

[Silberman]

Probably the reason why bitcoin has became a threat in china is due to the fact that it gave too much freedom, bitcoin has been very popular among Chinese since they hold the highest mining rate in the world and the were able to use it freely and not having to worry about the government, but because of that and because of how they can't hold control over the bitcoin network and we all know how the Chinese need to have always be tracking their people's movements and actions, it posed a threat that needed to dealt with before it got more popular.

lol, i can only say lol.

china are indeed against any form of freedom and since bitcoin itself as a symbol of a freedom and actually it is. of course they will do anything to de-freedomination lol, this statement from you just really makes sense to me personally. thats why i used lol so much this time lol.
its just like a funny statement but damn true.
they ban bitcoin now and fully legalized it tomorrow, typical china.

I think they know exactly what they are doing, the reason sometimes they may seem to be so ambivalent towards bitcoin is because this was a tactic used to try to get information about possible huge holders of bitcoin that are within their territory or that are their citizens, however it seems they have finally crossed the line and now they are doing everything they can to oppose bitcoin, but at the end of the day it does not matter, bitcoin was specifically built to get around governments like the Chinese one so as long as those that dealt with bitcoin in China did so while not revealing this to anyone they should be fine.