Bank of China continue its war against cryptocurrencies

[Shaza Ahmad 1682]

There is no interest for WeChat in China for the spread of cryptocurrencies such as Bitcoin or others, because it processes all payments to its users smoothly and quickly, so that many WeChat users do not carry anything but their phone with them, as they pay everything via WeChat application.

[avgplaya 97]

The digital yuan has passed internal tests in China and is ready to break into the world economy, with this, the Central Bank of China seeks to take advantage of technological advances and increase its centralized control from the implementation of its Chinese digital currency.
With that, we can understand the animosity of the Chinese Bank towards cryptocurrencies. However, the world sees the crypto world with better eyes. What do you think ?

 

😎 ♥️ 👻

[Naga 1250]

On 10/10/2020 at 9:16 PM, Shaza Ahmad said:

There is no interest for WeChat in China for the spread of cryptocurrencies such as Bitcoin or others, because it processes all payments to its users smoothly and quickly, so that many WeChat users do not carry anything but their phone with them, as they pay everything via WeChat application.

i think the reason why people would want to use crypto in china would be that crypto provide you with anonymity, while apps like wechat can be tracked to you, thats why the big whales in china are buying bitcoin.

[Mella 3680]

I am not know why it is chine that are not allow the cryptocurrency and why they are at war with them. The chinese are very controlling and are not want anything to be out of their power. I am not like this and maybe we are need to make to them to know that Bitcoin isnot about them.

[ramouddz 68]

Je suis d'accord avec vous, mais même si la Banque de Chine met en garde contre la crypto-monnaie, elle ne pourra pas arrêter la crypto car elle veut que tout soit sous son contrôle, mais la crypto n'est sous le contrôle de personne et cela dépend du marché. Si la plupart des gens dans le monde sont impliqués dans la cryptographie, ils ne pourront pas réussir en se battant.

[percare 3192]

It is safe to say that China is not playing games. They don't like cryptocurrencies but they love those they can control 100%. If they don't they ban them but if they see profit like the Bitcoin mining they allow it. IT is all about the government being powerful and it doesn't have to do with how cryptocurrencies can help a society.

[Fixfin 2569]

China is on another crackdown lately. They blocked bank accounts of traders in localbitcoins and now they blocked withdrawals and arrested the founder of Okex exchange. They are always trying but what happened to Bitcoin price? 100 dollar drop. Nothing. The centralized exchanges are no longer a threat to Bitcoin. This was a test in my opinoin and not even a problem with Binance can stop Bitcoin. It will rise a lot soon.

[Zeshan Khalid 2577]

Chine is trying to develop its own crypto currency that is why they will not allow any other crypto currency in their region. They also have the advantage of population

[Mike1515 2977]

I think their war is valid if you you look around to how people do make money , the truth is sometimes we can have shady people getting into crypto currency and that can prove to be very difficult to get out of some of the crazy ways we see around. I think its important for any nation to check on crypto before they allow adoption.

[Syedbesharat 5423]

This will effect the crypto trading in China where most the BTC is mining. The huge population  stop or prevented from investment will effect the growth of crypto in market. Which is not a small thing also its comes from national bank which is main problem because no one can stand against him in China. The interest of people will drastically decrease and people may start selling their crypto assets more fastly. 

[ramonn22 731]

For my part, what I think is that China is a dictator country and that is why cryptocurrencies will change what the Chinese government fears the most is not having complete control over its citizens but I think that at the end of it it will be cryptocurrencies
  Good luck to all and a big greeting

[percare 3192]

1 hour ago, ramonn22 said:

For my part, what I think is that China is a dictator country and that is why cryptocurrencies will change what the Chinese government fears the most is not having complete control over its citizens but I think that at the end of it it will be cryptocurrencies
  Good luck to all and a big greeting

Greetings friend. I agree but we have to remember the rules of the forum that we don't discuss politics. It is as you said that they want control and what better way than to have complete control on the financial life of all their citizens.

[Cryptomint 433]

I didn't understand what is going now. I have listened many news about the china. I also listened that now the china is supporting the cryptocurrencies but this post is against about my vision.

[M.bello 1015]

Hello mate base on my opinion is not a big deal fighting it will not solve any problems rather is going to help many people in China to earn a living many of the Chinese are jobless, introducing it could boost many youth to work hard and earn money 

[Russel 017 506]

Yeah definitely it can affect the crypto market . The people who wanted to join crypto world, they will not join.They will think crypto is bogus site for warning which given by china about crypto. 

[Onden 2098]

A futile war and it will only be a classic tale in the sad memories of the bank. Banks never help people to improve people's welfare, they only monopolize the financial sector. I think news like that we have heard many times and the fact is that bitcoin holders have gained wealth and profits thanks to the current bull market. I think whatever people say about Bitcoin, we can see that many people are helped by the existence of bitcoin, nowadays in many countries many people depend on bitcoin jobs, they are very helped, including me.

[VijithaVarghese 1994]

They found it less effective due to the voltality  of the prices. There are certain risks that it's not being accepted by the world financial market. This would really make it more normalised like fiat money and people would be reluctant.

[MalikAdnan 1662]

Yes the bank of china very active to save the people from the crypto scam. It is true there are many scamers in the market. So china bank warns their people about this. But china now going yo become the crypto industry. It is very fantastic.

[Goyaa 2414]

As we all know that many don't like the emergence of cryptocurrency, they think cryptocurrency will have a bad impact on their economy. Statements attacking cryptocurrency are common. A statement that states that bitcoin is a place to store fake assets is inconsistent with the facts. We bitcoin users know which one is best to protect our assets, the bank only takes our profits but never shares them.

[Smallingcane012 344]

Those bank in China that are against crypto currency, they should please allow crypto currency should continue with it business so every members we enjoy.

[yonkii 3205]

The China govenrment is making a big mistake with Bitcoin. There was no reason to ban and with regulations it would have succeeded more but they have some other plans for control of the total money supply and the flows inside the country as well as in satellite states that will follow.

[Froshk 1828]

17 hours ago, yonkii said:

The China govenrment is making a big mistake with Bitcoin. There was no reason to ban and with regulations it would have succeeded more but they have some other plans for control of the total money supply and the flows inside the country as well as in satellite states that will follow.

@yonkiiI wouldn't call that a mistake, Remember China have always been a safe heaven for various economic activities, cryptocurrencies included. But it's no longer news that many ponzi schemes are continually taking advantage of these liniency to defraud innocent citizens of their hard earned incomes, I think the clamp down is against fraud not bitcoin or cryptocurrency in general 

[cryptovlek 2597]

On 3/23/2020 at 2:58 PM, Jone20 said:

The bank is urging people to protect themselves from pursuing the crowd by refraining from investing in digital currencies.

This is common in China they block bank accounts and don't allow cryptocurrencies trying to control the money flow and hunt the cryptocurrency exchanges that operate now in hong kong. It is bad to live in china and have no access to cryptocurrencies.

[mahdititus16 216]

bank of china continue but maybe it is war against crypto currency , so i will show you why that happen , just listen , 

They are just warning their people that bitcoin is volatile and it is not good for usages, that why I think they insist of not using bitcoin but they are interested in the technology , so that all i have about your question brother , good luck for every one .

[Himu__69 632]

Yes, of course it will have an impact on our community. However, the Chinese government has probably not said this on all types of offline currencies. Rather, their purpose was to speak out against fraud. crypto trusted enough. Everyone is using it. So we have no reason to worry.