Quote from: Kate Beckett on January 28, 2018, 09:53:07 AM

Quote from: ShadyMash on January 20, 2018, 03:13:24 PM

china is one of the powerful country in this world.they are in a high position in economy.and also china is well developed country.but they still don't like bitcoin revolution.what is the main reason for that?

China doesn`t like Bitcoin in particular, not the whole revolution. Chaina alreade uses blockchain technology. But they don`t prefer Bitcoin, because they can`t control it. Bitcoin is untraceble and anonimous. China doesn`t like it. The country is considering creating its own crypto currency, which they will be able to control.

Bitcoin is traceable and not completely anonymous but I agree China is opposed to bitcoin because its not under central government control. I did read a theory that BCH is connected to Chinese government but I do not know thats been proven to be true, many miners are based in China though.
The big deal with China is they do not allow their people to freely exchange value except via government which involves taxation and possibly forfeiting value if you are not aligned to the politics of that country or region even. Of course its not democracy and not actually capitalist. Capitalism is always capital and means of production with the people, even the West fails in this by centralising banking

Quote from: lampukoe lumo on March 08, 2018, 06:07:27 PM

What you mean is why China forbids bitcoin as a means of payment in the country. Probably the reason why China forbids its citizens to trade in bitcoin is probably the Chinese State Government thinks bitcoin can harm banks, And maybe China wants to make its own Crypto better than Bitcoin, and other reasons may be the Chinese government is afraid that one day bitcoin can beat their own country's currency.

China doesn't have freely operating banks, they are all drones of the government operations. The people are constricted by capital controls. Bitcoin avoids these two things and profits may or may not be taxed, they do not allow free enterprise in this country I think its as simple as that