Bank of China continue its war against cryptocurrencies

[annayks 2314]

China makes a mistake to wage a war on cryptocurrencies. Not only they didn't stop the Chinese traders and investors but they are losing too as a regulated market could offer them some taxes too and better security. A big ponzi last year showed how much they can ban anything as millions of people had to buy bitcoin first before they send to Plustoken.

[Mansoor sumaan 29 0]

Basically the banking system of all the countries are afraid of the fame of the cryptocurrency as the cryptocurrency is becoming so famous these days so banking system is afraid that cryptocurrency will replace the banking system. 

As cryptocurrency becomes so famous that everyone can get access to it so it is very difficult for the governments and banking system to take tax from the user of the cryptocurrency so basically they are against the cryptocurrency for that reason.

[Hamza 2.2 631]

That is unquestionably a terrible move that can influence the crypto market on the grounds that numerous clients including the individuals who needed to join digital currency will be scared as they will might suspect crypto is trick however the bank of China is on the whole correct to caution individuals to know about phony and trick venture ventures.

[Amir bhai 464]

The bank of china continues their fight with crypto currencies but this fight have not result because day by day the crypto forum users are increases and lots of people join day by day so we should be cooperative with this forum

[zhoutong 2188]

China will never allow cryptocurrencies, the moment this market grown the chinese government banned trading and ownership making it impossible to grow more in the country, although allowed mining and there are also traders.

[Syriana 350]

The economic war actually exists between cryptocurrencies and China, and China is always trying to overcome the cryptocurrencies, but I do not think that will succeed because the cryptocurrencies have become strong and will not die anymore and they are in a state of continuous development and their price is constantly rising. It helps many users in cryptocurrencies.

[teebasas 3018]

China is resuming its campaign of demonizing Bitcoin at all cost, believing it to be a threat to their own digital currency. According to what I've read, they're attempting to hasten the release and integration of the digital yuan into their economy. They continue to allow Bitcoin mining in their country and attempt to control its price as much as possible.

[Dadouasaad123 902]

I think that this is also in the past, many countries have declared that they do not trust the cryptocurrency project, and I believe that the main reason behind this is that they cannot control it and its fluctuations, because cryptocurrencies of course are decentralized, that is, no one can control their value, only from  It is controlled by supply and demand, of course this will affect cryptocurrencies due to some in these countries following their rules and not dealing with cryptocurrencies, but as we are always used to, currencies will continue to struggle until they achieve what they dream about.

[Pereira 2303]

China had its mishaps with cryptocurrency, but it could be fixed by excluding a group of cryptocurrencies that could be used for extortion, money laundering, or on the dark web of the web. For this reason, many privacy cryptocurrencies were excluded and now operations are free in China, highly accepted by the regions and even regulated.

[selfmade 7]

On 12/11/2020 at 3:58 PM, zhoutong said:

China will never allow cryptocurrencies, the moment this market grown the chinese government banned trading and ownership making it impossible to grow more in the country, although allowed mining and there are also traders.

If they would never allow cryptocurrencies, then why are they making their own cryptocurrencies and also they mine bitcoin.

[HadiLord 926]

It is strange that this decision was made despite the Chinese government contributing positively to dealing with cryptocurrencies until it will issue its own currency, perhaps it is related to the fierce competition between banks and cryptocurrencies.

[HumamAliDeeb 590]

China calls for the struggle for technological supremacy in the field of patents, as the conflict has become most intense between it and the United States, and it has also announced its entry into a patent war for cryptocurrencies, and it is worth noting that patent wars are based on counterattacks, so there is no doubt that these are Conflicts will affect artificial intelligence.

[kion 381]

China like other countries are trying to earn people against the use of cryptocurrecy basically because upto now, they are still not sure about it , though they are not forcing there citizens to leave it, all they do is to advise people not to out too much hope into cryptocurrecy as it can be a scamm. 

[Jack764 1841]

Everyone has his own point of view, but if this field is so far good and makes a lot of things for us, then why do we not use it for our benefit and if anything happens, we will be the same as other people

[chris smith 950]

I do not know why these banks are doing this bad desicions which will affect on their jobs and on the cryptocurrencies so i wish the european banks will not do like that.

[Alix188 585]

All central banks are fighting cryptocurrencies and saying they are scam because if cryptocurrencies are used, we will not need central banks, I think that investors in cryptocurrencies will never abandon them.

[hghadeer611 689]

Despite all these attempts to defuse cryptocurrencies, these currencies are still resilient and face all challenges, and this is because they have great reliability, in addition to the speed in conducting transactions, all these advantages not present in traditional currencies, which made everyone prefer cryptocurrencies.

[Zein21 839]

I do not think that the Bank of China or any other country is able to stop the progress of cryptocurrencies because there are a large number of people who use cryptocurrencies in their daily lives and when the currencies spread in the way they deserve, no one will be able to experience standing against them

[Francy Mory 543]

What happens is that the central bank of China is planning to launch the first singular digital currency to what they consider will be the most important in the world. This could eliminate the need for third-party digital payment services. The other side of this coin will be to what extent other countries will want to use a digital currency issued by China.

[Maria karam 667]

I think that the idea of cryptocurrencies and blockchain terrifies banks, so we see many banks oppose their idea and do not tell you about people who managed to make a fortune by investing in cryptocurrencies only.

[piuri01 446]

There will always be someone who is against good things, in this case the Bank of China, it is that being a bank they tend to have control over people and their money, but in this case as virtual currencies are decentralized They cannot have access to them, much less control, that is why they are against this type of finance.

[khaler 1549]

The audience of Bitcoin has started to increase on a daily basis due to its ability to rise well and the opportunities it provides to be able to reap profits from it, and this is a very nice thing.

[Angeln20 513]

       I think banks are not just afraid of the successes of crypto currencies that's yet to be seen, so they're putting all forces together to pull it down with all force but that's not possible, I'm very optimistic.

 

[Nnnbht 502]

I think that the volatility of cryptocurrencies is the first reason for their confrontation with it, and I think they are a little wrong, but their position will not threaten the currencies, as they always strive to make the matter under their control and it seems that the currencies freed us from that.

[Jami ss 843]

My dear friend I am not agree with you and I want to tell you that at this time the China is promoting that cryptocurrency and deeply involved in the trading of cryptocurrency. so how you can say that the Bank of China is starting the bar against the cryptocurrency?