Well , they have their own reason but China has always have the strategy of wanting to be in total control of anything they do. Guess this is the reason why it happened
Crypto currency is beyond them to control it except if they are able to build a technology much stronger than blockchain to control the Crypto currency market.
Yeah, I wonder how exactly will that affect the value of yuan though, especially with people who deals with yuan in forex trading, or the fiat exchanges in totality
Yeah I think the forex trader will be happy with this and those running importation business with China aside this I don't see any other benefits.
Even at that they cannot be able to control blockchain because whatever they will build will be different from blockchain. No one can control blockchain
I think there was a time that they tried building their own version of blockchain but I guess the project didn't go as planned. They love control.
Even if they succeed , I doubt if companies will want to use their blockchain because it will give them some right over the projects launched on it
Since they have population advantages they may be using the blockchain in their country alone because that's what they desire.
Well , that's true. China will one day regret their actions because time will come when people over the world will say No to their products.
Yeah because every country is trying as much as they can to reduce importation. If cryptocurrencies can survive this moment no doubt China has more task ahead.
The continuous fall and rise in cryptocurrency can be attributed to people leveraging on the situation to do short term trading. This is quite sad .
Yeah this period normally exist in the market especially a major crash in the market and this may continue until there is a significant one time Investment that will change the market.
I believe that if people continue to short trade , they will end up making the market very volatile . Am really desperate to see such huge Investment that will change the market
I believe that it is a matter of time before their intimidation ends. People will soon try to avoid their product or even having any business with them.
Hope this happen. Since right now they are dominating the world with everything. They might try with crypto currency too. They are truly greedy.
They have population advantages and they have cheaper goods and services that are manageable so they strong influence in the global economy but that can't bring down Crypto currencies as they hope for.
I think it's less about competition it's about control. The communist party will not accept that a uncontrollable currency competes against their own e-CNY specially since their e currency lacks of privacy. I think the Chinese could accept crypto besides their currencies if they would not see a danger in it.
They already did . They were initially the country with the highest Mining rig in bitcoin but they later banned it which caused a crash in the market
Which is probably why they hate it because they have no power over it.. although their decisions may affect the market it won't stay like that for long
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