Quote from: gcckpxm62308 on February 02, 2018, 08:04:22 AM

Quote from: Hopeful2017 on February 01, 2018, 08:00:37 AM

Quote from: gcckpxm62308 on January 26, 2018, 08:42:42 AM

China's three major virtual currencies trading platform Bitcoin China, Coin Network, OKCoin currency have announced that they will cease trading business, the Chinese regulatory authorities so resolute and beyond imagination. I would like to know why China prohibits bitcoin. What is the reason, who can tell me?
This is the news link I saw before：http://www.myzaker.com/article/59bf055a9490cb703500002b/

Chinese government officials are the main culprit why Bitcoin is being banned in their countries. There are several hypothesis why they are doing this. First, imagine if majority of Chinese people are just doing Bitcoin the whole day, there manpower in a lot of industries and factories will be crippled. We all know that China has a lot of factories and many factory workers. It would result to disaster if all or most people would do bitcoin. Second, Bitcoin makes bank loss huge some of money.

I also read other news about the reasons for China's restriction on the development of bitcoin. They think bitcoin has an impact on the RMB's status and does not match the future internationalization strategy of the RMB. This is not conducive to China's economic development. And China Prohibition of illegal mining, although they do not state that the prohibition, but the behavioral aspects of Bitcoin transactions in many ways, I think this bitcoin will be a negative blow.

Well, for those news that china has forever banned bitcoin is not true that is just a rumors. They have just controlled the crypto currencies in there country to spread out because they can not contribute a lot to the economic stability. The reason is that china is more concerned on the taxation they collected for the development of there country as well.