bitcoin China, USA, Bitcoin - war

[scot-t 5]

As the leader of cyber currency trading, China has made no secret that they intend to take control of the global market. To accomplish this feat they have come up with a clever solution; namely, the Chinese New Silk Road. The economic development of Asia Pacific will see a significant increase in online gambling across the globe. By all accounts, by mid-2020, over half of all worldwide cannabis exchanges are Chinese based. If this trend continues, there is no telling what direction the currency of the world will be heading. That being said: "There is no denying that the Chinese government has taken an interest in the world of gambling and online bitcoin gambling".

 

Recently the Chinese government issued a statement warning that gambling websites were not legitimate. According to their understanding, these online websites were offering services that were akin to those of fered by online black markets such as the Silk Road. It was claimed that by allowing these websites to exist, the financial system of the people of China would be disrupted. This threat prompted the government to issue this warning. By understanding how the system works, a gambler should be able to understand why the Chinese government fears the concept of a decentralized payment system like that found with the traditional black markets.

 

The Chinese government fears that people will start to withdraw from the banking system, which would cause hyperinflation. In an attempt to prevent this from happening, they believe that regulating the use of bitcoins, will prevent the phenomenon of hyperinflation. The only way for the Chinese government to make their fears a reality is for them to be able to control the supply of bitcoins through taxation. By putting a limit on the number of bitcoins created, they hope that individuals will be more careful when spending them online gambling or otherwise.

 

The Chinese have a long history of internet black markets where illegal items are sold, such as drugs, guns, and stolen credit card information. The same tactics that would be used in these black markets could also be used online to ban online gambling. Therefore, if the Chinese government attempted to ban the transfer of bitcoins it would make the black market criminals very happy as they would not need them.

 

Therefore, to protect their citizens they have issued a warning against the use of currencies associated with the black market. They do this to limit the availability of bitcoin to ensure that there are no losses incurred by the people of China and other nations that allow for the recreation of such currencies as the US Dollar, Euro, and Yen. These currencies are considered by the Chinese government to be highly dangerous because their values tend to fluctuate uncontrollably and they are known to be used by the hackers behind cybercrimes. They, therefore, believe that regulating these particular currencies is the best way to protect their people and prevent online gambling sites from being hacked.

 

To make it clear to everyone that the government has issued a warning about the use of bitcoins in online gambling, there is going to be a clampdown on all transactions involving the said currency. This means that if you are interested in placing orders for gaming sites that accept bitcoins as a form of payment you will not be able to place the orders. This means that if you want to gamble on the black market using these currencies, you will not be able to do so. This, however, should not deter you from playing at online gambling sites that accept the currency. If you are just looking for excitement and want to place bets on the outcome of an online soccer game, cricket match, or horse race then you will be fine.

 

If you are an avid enthusiast of the game and you want to try and leverage the potential of the currency but you do not want to risk your money then the only solution that is open to you is to go and register at a site that allows you to play with bitcoins. This is the only solution that is available to anyone who wants to take advantage of the potential of the crypto coinage. Many online casinos accept bitcoin and they have made the move to ensure that their clients can fully enjoy the benefits that come with the cryptocurrency.

 

Many people around the world are still uncertain about the whole process of accepting bitcoins as a form of gambling payment online. They have not come to grips with the fact that this measure is being taken by the authorities to stem the tide of the rising popularity of bitcoin. To combat the fears and apprehensions that people have towards the currency you need to convince them that the online casinos that accept the currency will not cause them any loss of interest. This means that you have to reassure them that the increase in the availability of online casinos that accept bitcoin as payment will make their gambling experience a lot more exciting. Once you have done that you can be sure that the introduction of bitcoin into online gambling is well on its way to becoming a success story.

Edited February 10, 2021 by scot-t
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[guatazoo 7150]

China has war with bitcoin because they need to kill bitcoin and making their coins more best than bitcoin, but USA is fighting against bitcoin because they don't need USD to be #1 rank and overtaken USD. 

[Cleaner 2549]

Bitcoin is a coin that is popular with users in all countries.  The price of this coin is increasing day by day.  However, the Chinese government thinks that Bitcoin will make the people of the country more interested in Bitcoin instead of Fiat money, which will reduce the demand for Fiat currency in the country and therefore they will impose VAT or ban on this coin.  However, Bitcoin has gone far beyond the USD coin.  The Americans have legalized Bitcoin.

[joemcgwa 3227]

Of course China and USA are the mostly countries which are fighting so much about bitcoin, for China we know they need to promote their crypto currencies against bitcoin, so I don't know what's makes war against bitcoin and USA.

[joemcgwa 3227]

But we cannot be feared to use bitcoin because of USA and China are fighting against it, as we can see that the bitcoin price is still increased and we still using it.

[pax166 0]

Not only the chinese government but all over the world there is been an increasing concern about the effect of cryptocurrency on local currencies. That is why many of these countries are placing restrictions on the use of cryptocurrency. With china taking a major step, i believe other countries will also start implementing their own laws and restrictions on the use of cryptocurrencies.

[KarlJohn1 56]

On 12/27/2020 at 9:41 PM, guatazoo said:

China has war with bitcoin because they need to kill bitcoin and making their coins more best than bitcoin, but USA is fighting against bitcoin because they don't need USD to be #1 rank and overtaken USD. 

But nothing will happen to bitcoin, China did not support bitcoin because they are selfish and self centered. That led to the creation of what they are about to create which is China own crypto. No matter what China does, bitcoin will always increase price and get more popular. 

[cryptovlek 2597]

I don't see a Bitcoin war between China and USA and not with anyone. There is no information about something like that in this post. It is a good post but mostly covers the reasons why China doesn't like Bitcoin under a gamblers perspective. However I would prefer to read about geopolitics and why Bitcoin would have a role to play in the economic rivalry between China and USA.

[Fixfin 2569]

You "written" all that but there is no Bitcoin war between any country. The governments of these countries have under their control some Bitcoin but how exactly can a Bitcoin war happen and what it will mean, wasn't explained at all in this post, you just talk about gamblers and hacks.

[Sykkuno 2887]

You are discussing more gambling than anything else so probably in the view of the gambler there is a war between US and China but what is Bitcoin has to do with this? We know that US has banned online gambling and China all kinds of gambling. Bitcoin is used by many websites and citizens from these countries visit them but it is illegal to do that, so this is on their own risk.

[zhoutong 2188]

China has the modern Silk Road ready, it will be a boost for all Asia trading and will also increase commerce in Europe and Africa. It is not something that is a bad move, as along with trade there will be increase in infrastructure and perhaps a rise in living conditions. How Bitcoin is connected with that I don't know, there may be some connection but I don't see something right now. 

[Froshk 1828]

The China and USA battle of economic deminance is clearly seen even when it comes to the aspect of crypto currency's.

And these competition between these great economic forces is actually increasing the overall popularity and acceptability of these currencies

[percare 3192]

On 12/24/2020 at 11:21 AM, scot-t said:

These currencies are considered by the Chinese government to be highly dangerous because their values tend to fluctuate uncontrollably and they are known to be used by the hackers behind cybercrimes.

Great post overall. China is most of all interested in stopping money laundering and there was data for the previous years about many billions having fled China to other locations with the use of cryptocurrencies.

[abohasnn9 2401]

My friend, the Bitcoin currency is a major conflict for the largest economies of the countries, China is the largest country that has mining computers, as it is the one in control of sending cryptocurrencies, as it owns 80 percent of the mining computers globally, but the controller of Bitcoin is a blockchain company of American origin and this raises concern because of the ongoing conflict in both  Thank you so much

[Rozy 1918]

It a long but worthy to read article, I guess China is against Bitcoin because it already knows that USA is not going to let such a thing passes by without taking advantage of it, some people even say that the Blockchain technology was initiated in the United states years before the official release of Bitcoin, so I guess what China fears is the hidden Agendas the United States has. However I guess that People are the best gainers from Blockchain technology. 

[Whited35 15285]

On 1/13/2021 at 10:44 PM, zhoutong said:

It is not something that is a bad move, as along with trade there will be increase in infrastructure and perhaps a rise in living conditions. How Bitcoin is connected with that I don't know, there may be some connection but I don't see something right now. 

The fears of  hyperinflation is not just for the Chinese government by thinking like so many citizens start to withdraw funds from the bank to the increasing crazes in the cryptocurrencies. Imposing the tax in Bitcoin can be a temporary solution but the rest of factors will still remain to take into the account.