China might shut down the country's bitcoin exchanges

China has never been a fan of digital currencies like Bitcoin, and now the Country appears to go on a major crackdown.
In the wake of China's recent ban on initial coin offerings (where you raise funds for a new cryptocurrency), Wall Street Journal sources understand that Chinese official are ordering the shutdown of domestic bitcoin exchanges.


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It is debatable.
I'll be honest, how can you control 1.5 Billion citizens? If everyone is free to do whatever they want, you would have thousands of political parties.
Following this logic, you would never know what your citizens are paying for when using bitcoins.

However, it is also a violation to the Human freedom. Privacy is important. Everyone has the right to have privacy in his life.

That's just an overview of this problematic, problems are deeper than this.

I don't know all that much about China's inner workings but I watch SerpentZA on YT and I remember him saying in response to a question that China have really been clamping down on crytocurrencies as they want to keep all the money within the country. I belive they plan to introduce their own cryptocurrency.

I think its confirmed, cryptocurrencies are banned in China !

They are afraid because they can control bitcoin. In banking industry they all are afraid of criptocurrency,

Chinese economy is questionable at best. Bitcoin is superior

02-10-2017, 11:58 AM

Apollo Wrote: Chinese economy is questionable at best. Bitcoin is superior

Well, it depends on the region. The market areas I'd say are some of the most successful economic bubbles on the entire continent. The vast majority of the country is economically... not up to par with those districts.

02-10-2017, 12:03 PM

fdigl Wrote: Well, it depends on the region. The market areas I'd say are some of the most successful economic bubbles on the entire continent. The vast majority of the country is economically... not up to par with those districts.

True I didn't even take into consideration farmland and other rural areas.

They say cryptos will disrupt the banking industry the same way internet did to the medias

China gov doesn't know the value of cryptocurrency.