Bank of China continue its war against cryptocurrencies

[Dark_Sky 8489]

On 3/23/2020 at 10:54 PM, Tomas2020 said:

Governments and banks in general do not prefer citizens to deal in cryptocurrencies because they will lose their customers who benefit from them in taxes and interest, and not be guilty after users discover the ease of cryptocurrencies and deal with them freely.

That's right. 

That's one of the main reason why some countries don't accept cryptocurrencies. 

But once they can make taxes from it maybe they will approve it. 

[Mcd0d0 5882]

20 hours ago, Treat1234 said:

 it will favor their citizens to other people,

Of course mate because this their own coin so that this will be more favorable to their citizens, i hope that you may understood right now, happy posting everyone.

[deepown 0]

1 hour ago, Mcd0d0 said:

Of course mate because this their own coin so that this will be more favorable to their citizens, i hope that you may understood right now, happy posting everyone.

I'm not sure if the chinese are happy with their country banning bitcoin and force them to use their own coins which are centralized.

[bliznec 22267]

2 hours ago, Basad said:

Good number of population Chinese are already exposed to cryptocurency system so it will be very difficult for banks to stop the people from accepting, using or appreciating cryptocurency 

This applies not only to the population of China, but also to other countries, have a large number of investors and traders who store bitcoin. 

[Treat1234 0]

5 hours ago, deepown said:

I'm not sure if the chinese are happy with their country banning bitcoin and force them to use their own coins which are centralized.

They wont be Happy about it, they need to enjoy the same benefits as other people of the world are enjoying, not by just limiting themselves 

[Mcd0d0 5882]

2 hours ago, kabanidze said:

the own coin of any country will be very useful first of all for the citizens of the country themselves

Absolutely yes mate, if your country has make or publish a coin, are you willing to support this by investing it? I think you will support this and if this will be going popular, there has a possibility to increased its price and also the outsiders will also used it too.

[DavCrypto 298]

21 hours ago, teminalibug said:

It is not too late yet, but the longer they ignore it, it becomes too late for them, the future is only bright if you invest now.

Certainly, this is true. ”And I meant that it was too late for people trying to prevent the spread of cryptocurrencies and dealing with them, as they have already spread and become strong enough in the markets.

 

Edited April 26, 2020 by DavCrypto

[DavCrypto 298]

12 hours ago, Roytuni82 said:

Financial markets are facing their worst crisis and people are looking for alternatives to protect themselves from collapse. One option that many consider is the cryptocurrency annoying Chinese authorities and others

This is completely true. I find that cryptocurrencies are now the best option for saving and storing money and many of us do that. In your opinion, Chinese authorities are very disturbed by that? Although it began to pay salaries to some military sectors through Bitcoin.

[teminalibug 309]

1 hour ago, DavCrypto said:

Certainly, this is true. ”And I meant that it was too late for people trying to prevent the spread of cryptocurrencies and dealing with them, as they have already spread and become strong enough in the markets.

 

Oh if you meant that then they are too late indeed, you see they should have stopped they use if bitcoin when there was less than a hundred investors at least.

[Treat1234 0]

22 hours ago, halloweed said:

Even if they do not follow the rules they will never get caught and that is exactly what i think they are doing, not following the rules.

Yea,, only the vigilant people will escape being caught, but this is possible that they will instilled all measures that will trace anyone that violate their laws set aside

[P A Ashif 2409]

I have seen that many of the government of different countries are not accepting cryptocurrencies.  The major reason behind is that if crypto is made currency of a particular country then control of currency will go from government. 

[Captain Karim 0]

It will definitely affect people, if the Bank of China continues to publish about Bitcoin in this way, it will definitely affect new investors who want to enter the cryptocurrency market because after these statements they will choose to stay away.

[Brand1 1336]

This is very natural and always expected, because most banks hate cryptocurrencies, and this is because they are unable to control the prices of these currencies, and also with what they track. For this reason, many banks have started to establish their own currencies, but with different characteristics from the currencies that we know.

[MrGox 880]

This decision may not affect cryptocurrencies, but maybe affect people. That is why all of us know about China,  its economy and others. But l can not deny that, despite big economy people are not rich. China doesn't want people to be free from her. 

[Amir Vao 341]

On 3/23/2020 at 6:58 PM, Jone20 said:

 

The Bank of China continues its anti-cryptocurrency stance on WeChat, voicing its aversion to cryptocurrencies and urging the public to pay attention to fraud.
The Bank of China post also indicated that the claim that Bitcoin is a false safe haven, because it is very volatile. The bank is urging people to protect themselves from pursuing the crowd by refraining from investing in digital currencies.
Will this affect the cryptocurrencies, or will it continue to fight for its strength and effectiveness?

We know that China banned crypto services in their country long time ago. But recently they are showing interest on crypto to adopt it. And this is a good news for the market.

[Ayush Singh 1175]

The bank of china is acting for anti-cryptocurency just because the country wants to develop there own technology and Cryptocurrency and later on they will be supplying their crypto coins in the international markets. 

[CryptoLover21 0]

China wants to take under everyone for their economy and it is known as most powerful country in economy so cryptocurrency disturb in Chinese marketing because one can control cryptocurrency and people always give priority to cryptocurrency than country currency. It is waste of time for fighting against cryptocurrency.

[Zues 1069]

On 4/29/2020 at 10:54 PM, halloweed said:

Maybe after the economy of many countries been messed up with the COVID-19, those countries might finally consider recovering through crypto investments.

Yes I think that this news is bad and unfortunate because the people that use cryptocurrencies in China will fail because the government of China is now banning and fighting cryptocurrency in their country which is unfortunate to the people. I hope that they will accept cryptocurrency. 

[Irish 128]

On 3/23/2020 at 8:58 PM, Jone20 said:

 

The Bank of China continues its anti-cryptocurrency stance on WeChat, voicing its aversion to cryptocurrencies and urging the public to pay attention to fraud.
The Bank of China post also indicated that the claim that Bitcoin is a false safe haven, because it is very volatile. The bank is urging people to protect themselves from pursuing the crowd by refraining from investing in digital currencies.
Will this affect the cryptocurrencies, or will it continue to fight for its strength and effectiveness?

Actually China is not against crypto currency in fact they are planning to launch their crypto yuan this year but I dont think that that will happen because of the corona virus outbreak maybe next year it will eventually happen if the problem of corona virus will be resolved.

[IamLeader12 682]

On 23.03.2020 at 15:58, Jone20 said:

Will this affect the cryptocurrencies, or will it continue to fight for its strength and effectiveness?

I think that this will not greatly affect the price of bitcoin and the miners, but fewer and fewer people will continue to mine bitcoin in China.

[Moaz 7239]

Yes, it is true, that the Bank of China is one of the most opponents of the cryptocurrency, and this may negatively affect the encryption negatively, but temporarily, that China seeks to control the cryptocurrencies, and this is contrary to the concept of crypto

[Zezo 306]

Most of the banks and governments in the countries of the world are fighting Bitcoin not only in China. However, there are companies in China that carry out important projects in digital currencies.

[Thekingcallme 1975]

China may succeed in fighting cryptocurrencies on its soil, but it cannot prevent the whole world from using cryptocurrencies

[Treat1234 0]

Bank of China can not stop crypto currency from spreading across the globe o heard that China government are planning to adopt crypto currency.

[Zalaks007 543]

I really don't think the war against crypto by the bank of china will really last long because lost of people have started adapting to the use of crypto and also looking for other means of investing and earning money.