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I would be surprised if the Chinese government doesn't ban Bitcoin at some point. They don't allow their people free access to information, why would they allow

by runeks 9y ago

I would be surprised if the Chinese government doesn't ban Bitcoin at some point. They don't allow their people free access to information, why would they allow freedom in monetary matters? They certainly doesn't seem inhibited in banning things that may pose a threat to themselves. Bitcoin just doesn't pose much of a threat yet, not until it's generally useful as a payment system and for financing -- thus comprising an actual competition to the PBOC and their member banks.

_coldfire 9y ago
As long as all the entry/exit points are regulated and in line with the government, Bitcoin is perfect for a country obsessed with capital controls. Far easier to monitor than cash.
zabana 9y ago
> They don't allow their people free access to information, why would they allow freedom in monetary matters? The US and other major "democracies" out there are already working on restricting access to information. I believe it's called "Fake News" ...
- lawless123 9y ago
  Are you saying you don't believe Hillary drags children under their bed and eats them?
  - wand3r 9y ago
    No one is saying that. Its what cost her the election.
    - Sunset 9y ago
      Being the personification of a crony career politician cost her the election.
      - wand3r 9y ago
        Do you believe that I think she literally eats children; or did you want to just put Hillary down? I read most of the DNC emails, I researched her as much as a voter should. Clearly couldn't vote for her (voted a write in "no confidence in candidates") But she never ate kids; that was John Podesta.
- driverdan 9y ago
  Fake news is a side effect of the US' freedom. You can publish what you want.
VectorLock 9y ago
Why ban it when they can nationalize all the miners and have total (>51%) control of Bitcoin?
- posterboy 9y ago
  My Thoughts exactly. If it would repalce cash money, that would be a good motivation on top of that, as they might control the anonymity of transactions. I don't think they'd need >50% total, if only inland transactions are concerned (as would be the case with any other payment system, without further assumptions)

by runeks 9y ago

_coldfire 9y ago

As long as all the entry/exit points are regulated and in line with the government, Bitcoin is perfect for a country obsessed with capital controls. Far easier to monitor than cash.

zabana 9y ago

> They don't allow their people free access to information, why would they allow freedom in monetary matters? The US and other major "democracies" out there are already working on restricting access to information. I believe it's called "Fake News" ...

lawless123 9y ago
Are you saying you don't believe Hillary drags children under their bed and eats them?
- wand3r 9y ago
  No one is saying that. Its what cost her the election.
  - Sunset 9y ago
    Being the personification of a crony career politician cost her the election.
    - wand3r 9y ago
      Do you believe that I think she literally eats children; or did you want to just put Hillary down? I read most of the DNC emails, I researched her as much as a voter should. Clearly couldn't vote for her (voted a write in "no confidence in candidates") But she never ate kids; that was John Podesta.
driverdan 9y ago
Fake news is a side effect of the US' freedom. You can publish what you want.

VectorLock 9y ago

Why ban it when they can nationalize all the miners and have total (>51%) control of Bitcoin?

posterboy 9y ago
My Thoughts exactly. If it would repalce cash money, that would be a good motivation on top of that, as they might control the anonymity of transactions. I don't think they'd need >50% total, if only inland transactions are concerned (as would be the case with any other payment system, without further assumptions)