Kakashi2020 Posted June 25, 2018 Share Posted June 25, 2018 A few months ago China banned ICO's and Cryptocurrency exchanges, trading and use of all coins. While on the other hand Japan's coin market is exploding. What is your take on this? Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/ Share on other sites More sharing options...
CARLOSP1 Posted July 3, 2018 Share Posted July 3, 2018 The People's Bank of China issued a statement that all ICOs should be stopped immediately. As reported by Caixin, the prohibition concerns not only the conduct of new primary distributions of currencies. In addition, organizations and individuals who have already held an ICO will now have to return the funds to investors. My point of view: while developed countries like Japan, USA etc ... line up and have a heated market, this attitude of China is like going back in time Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-1597 Share on other sites More sharing options...
EfficientNinja Posted July 9, 2018 Share Posted July 9, 2018 China is restricting trades. I read somewhere about trade wars with the United States. I guess China doesn't want their money going out of their country. I also think the main reason that China is banning crypto is that they are the main areas that it is profitable to mine cryptocurrency. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-1716 Share on other sites More sharing options...
Kakashi2020 Posted July 14, 2018 Author Share Posted July 14, 2018 On 7/9/2018 at 8:46 PM, EfficientNinja said: China is restricting trades. I read somewhere about trade wars with the United States. I guess China doesn't want their money going out of their country. I also think the main reason that China is banning crypto is that they are the main areas that it is profitable to mine cryptocurrency. That was also my thought, I mean China might be mining secretly, because it's one of the cheapest country to mine bitcoin. While they don't want their people mining because it would disrupt their economy if something bad happens because they do have a lot of enemies. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-1800 Share on other sites More sharing options...
Henrywrites Posted July 14, 2018 Share Posted July 14, 2018 It is really sad that such is the situation in China as I am yet to see the big threat that coins are bringing to any government and their monetary policies. It is going to be better to have had some restrictions instead of the type of outright ban on cryptocurrencies. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-1808 Share on other sites More sharing options...
Marako0406 Posted July 16, 2018 Share Posted July 16, 2018 Yeah! Not to ban cryptocurrencies right away, I really thought that crypto would be given a chance to be part of global economy and not to replace fiat money. I believe that china is just getting ready for its own ICO haha Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-1832 Share on other sites More sharing options...
Kakashi2020 Posted July 23, 2018 Author Share Posted July 23, 2018 On 7/4/2018 at 1:13 AM, CARLOSP1 said: The People's Bank of China issued a statement that all ICOs should be stopped immediately. As reported by Caixin, the prohibition concerns not only the conduct of new primary distributions of currencies. In addition, organizations and individuals who have already held an ICO will now have to return the funds to investors. My point of view: while developed countries like Japan, USA etc ... line up and have a heated market, this attitude of China is like going back in time I really think China is afraid that cryptocurrencies could be used as a weapon against them also cryptocurrencies has a democratic side to it, and China has the biggest population in the world. The Communist government is always on the lookout of major threats and it seems they've branded cryptocurrencies as one. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-1937 Share on other sites More sharing options...
focusedwriter10 Posted November 3, 2018 Share Posted November 3, 2018 On 7/9/2018 at 3:46 PM, EfficientNinja said: China is restricting trades. I read somewhere about trade wars with the United States. I guess China doesn't want their money going out of their country. I also think the main reason that China is banning crypto is that they are the main areas that it is profitable to mine cryptocurrency. Exactly. The issues cited by China were not convincing. However, China is a country that does not want money to leave their country. Just check around the world and you will realize how selfish China is. Business is only good where China is benefiting without competition. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2323 Share on other sites More sharing options...
menchuuy58 Posted November 3, 2018 Share Posted November 3, 2018 On 6/26/2018 at 7:48 AM, Kakashi2020 said: A few months ago China banned ICO's and Cryptocurrency exchanges, trading and use of all coins. While on the other hand Japan's coin market is exploding. What is your take on this? I think they ban it in order to control the wealth and the lives of Chinese. I think their government thinks that bitcoin will later on give them problems. Things may go out of hands. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2335 Share on other sites More sharing options...
Kakashi2020 Posted November 3, 2018 Author Share Posted November 3, 2018 6 hours ago, menchuuy58 said: I think they ban it in order to control the wealth and the lives of Chinese. I think their government thinks that bitcoin will later on give them problems. Things may go out of hands. I do agree with you in that China thinks of anything external as a threat, just like what happened to Facebook, they banned it and created their own Facebook copycat platform called Baidu. They're a bunch of paranoid commies if you ask me. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2353 Share on other sites More sharing options...
anyone01 Posted November 4, 2018 Share Posted November 4, 2018 There are already nations who banned bitcoin aside from china, so that is only a ordinary event at the cryptocurrency world. In case you guys are afraid that bitcoin will die due to the fact China banned it, do not be hassle by means of this. Bitcoin could exist without this chinese authorities, there is a few countries already who depended on bitcoin and make it one of their currency, and certainly one of them is Japan, so relaxation assured, bitcoin will nevertheless stay and will maintaining booming as continually and will sooner result in innovative length during the sector industry. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2362 Share on other sites More sharing options...
menchuuy58 Posted November 4, 2018 Share Posted November 4, 2018 16 hours ago, Kakashi2020 said: I do agree with you in that China thinks of anything external as a threat, just like what happened to Facebook, they banned it and created their own Facebook copycat platform called Baidu. They're a bunch of paranoid commies if you ask me. That's right. I think that they are afraid of their own people. They are afraid of masses of people to come to the knowledge of things. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2380 Share on other sites More sharing options...
Kakashi2020 Posted November 4, 2018 Author Share Posted November 4, 2018 8 hours ago, menchuuy58 said: That's right. I think that they are afraid of their own people. They are afraid of masses of people to come to the knowledge of things. I do agree that Communist China likes keeping their people in the dark and the Ruling Party is constantly making their people believe that their nation is highly industrialized and currently the most powerful nation in earth. What's funny is that they've succeeded in brainwashing the bulk of their population which are mainly unschooled farmers. All opposition is being silenced and crush. Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2408 Share on other sites More sharing options...
Steve5 Posted November 7, 2018 Share Posted November 7, 2018 On 7/9/2018 at 8:46 PM, EfficientNinja said: China is restricting trades. I read somewhere about trade wars with the United States. I guess China doesn't want their money going out of their country. I also think the main reason that China is banning crypto is that they are the main areas that it is profitable to mine cryptocurrency. That's interesting. I wonder why that is. Well, since China is one of the leading countries in the world. I guess it makes sense. They want the odds to be in their favor when it comes to power struggle. Money is a huge part of that. 😁 Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2558 Share on other sites More sharing options...
Steve5 Posted November 7, 2018 Share Posted November 7, 2018 On 11/3/2018 at 11:57 PM, menchuuy58 said: I think they ban it in order to control the wealth and the lives of Chinese. I think their government thinks that bitcoin will later on give them problems. Things may go out of hands. You might be right. They would rather not risk losing control of finances. Cryptocurrency is a new thing for many countries. It could be that it's not really something that's working for them compared to other nations. 😁 Quote Link to comment https://slingbank.com/forums/topic/944-china-bans-cryptos/#findComment-2559 Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.