Quote from: Nrcewker on October 25, 2022, 09:53:18 AM

Quote from: lhrbeijing on October 25, 2022, 03:11:13 AM

I am bullish on the future of Bitcoin as a technology.

We all know that China has a total ban on cryptocurrencies, including but not limited to no mining, no circulation, no trading, no banking services, no listing on exchanges.

What do you think countries have to lose by making this choice?

China had ban cryptos. The main reason for the ban is the decentralised nature of the coin for which they arent able to impose tax on the coins. So they literally banned it. But guess what people are still using and holding cryptos. The countrys arent losing anything if we see thoroughly. Its the people are suffering as they are missing complete independence on their own money. Nevertheless lets see how much far this will be stretched.

In short, China banned crypto and anything related to it because it is something they can't control, getting some tax out of it is the least of their problems. This country doesn't surprise me already because they are also like North Korea, but the difference is the citizens of China have a little freedom and choices compared to NK. Can't blame that some Chinese citizens chose to migrate towards Hong Kong, Macau and to different country just to get away from CCP's cruelty.