Bitcoin is having a hard time recently due to China's regulation. I wonder what China can gain in cracking down bitcoin trade and mining? Does't the government figure out that cryptocurrency is lucrative and alomst unstoppable? Banning mining is really an insane act as I see it, they are actually expelling money and power!!!
what do you think? leave you comment, thx
They are not planning to eliminating the whole crypto market but instead it is only bitcoin that they are targeting because this coin is the biggest competitor of their Own cryptocurrency .
in short they want to get Bitcoin out so their people will have no choice but to use their coin or at least altcoins.
The established Bitcoin will be a threat to what they are planning so eliminating this will make all happy in chinese government.
But what about their people? would they be happy truly or just because they have no option but to follow as communist party?