Why did bitcoin stop in China

1. According to the notice on preventing the financing risk of token issuance, there is no approved digital currency trading platform in China. According to the regulation of digital currency in China, investors have the freedom to participate in digital currency transactions at their own risk
the concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system. Unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

warm tips:
1. The above explanations are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
response time: February 2, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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2. Recently, the China Internet Finance Association issued the "tips on preventing the risks of bitcoin and other so-called" virtual currencies ", pointing out that bitcoin trading platform is a tool for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities e to the expanding number of stakeholders and strong speculative atmosphere; There is no legal basis for the establishment of various so-called "currency" trading platforms in China
at the same time, the price of bitcoin dropped from a high level. Since bitcoin China announced it would stop trading at the end of this month, the price of bitcoin has dropped 11.3% to $3426.92, Reuters reported. This is also bitcoin's seven consecutive days of decline, becoming its longest decline in a year.

3.

On October 10, bitcoin China, one of the three major bitcoin exchanges in China, announced on its official wechat account that it would stop the cash withdrawal business at 12:00 noon on October 30, Beijing time, and ask users to reflect it as soon as possible

bitcoin China has previously turned off the digital assets and RMB recharge function at 12:00 noon on September 27, and turned off all trading functions at 12:00 noon on September 30. The other two big bitcoin exchanges in China, Huo coin.com and okcoin.com, which are headquartered in Beijing, will stop trading all digital assets into RMB before October 31, and the work of clearing their funds and assets is also in progress

4. It is easy to understand that the main reason is that the negative impact on China's economy and society is unforgivable. First of all, these computer geniuses have a good desire to create algorithmic digital currency, but because it has no value base, the consideration of bitcoin is dominated by underground economy from the beginning, and then it becomes a tool for speculation. Secondly, every surge of bitcoin is related to Chinese speculators, which is basically the result of domestic speculation and malicious speculation. This kind of malicious speculation not only has a serious impact on China's financial market, but also creates conditions for many illegal funds to flee. Third, bitcoin and other algorithmic currencies have never served the real economy in China, and have promoted the development of the real economy. On the contrary, let the funds serving the real economy flow into the market for speculation, which has a serious crowding out effect on the real economy. Fourth, under the above circumstances, bitcoin and other so-called "algorithmic digital currencies" will surely become increasingly tools for money laundering, drug trafficking, smuggling, illegal fund-raising and other illegal and criminal activities, and the responsible government must absolutely own this market.

5. Yes, as long as you have a laptop and the router is a wireless router

6. Bitcoin is a kind of virtual currency, its value can not be affirmed, blind investment will bring greater risks, the state is not allowed to trade bitcoin and other virtual currencies mainly to protect the interests of investors.

7. Bitcoin is not currently functioning as a trading medium in China, and the rapid rise in current prices has created speculative expectations and may form bubbles in the future. Therefore, it is necessary to take measures in advance. Bitcoin is not currently functioning as a trading medium in China, and the rapid rise in current prices has created speculative expectations and may form bubbles in the future. Therefore, it is necessary to take measures in advance. Bitcoin is not currently functioning as a trading medium in China, and the rapid rise in current prices has created speculative expectations and may form bubbles in the future. Therefore, it is necessary to take measures in advance. Bitcoin is not currently functioning as a trading medium in China, and the rapid rise in current prices has created speculative expectations and may form bubbles in the future. Therefore, it is necessary to take measures in advance. Bitcoin is not currently functioning as a trading medium in China, and the rapid rise in current prices has created speculative expectations and may form bubbles in the future. Therefore, it is necessary to take measures in advance.

8. Normal.

9. Bitcoin China stopped withdrawing cash on October 30, and a certain fee will be charged for later withdrawal
in addition, bitcoin is essentially a piece of computer code, which is generated by bitcoin software system on P2P network; Today, its price is getting higher and higher. It can only be said that people have a high acceptance of it
as we all know, the main function of money is to act as the intermediary of transaction; According to coin packet, as bitcoin, it can be said that it is the comprehensive proct of the current network technology and social and economic development to a certain stage; It is people's general acceptance of it that makes it part of the function of currency. When a new currency appears one day, people will be interested in it, and bitcoin will pay less and less attention. Maybe bitcoin will leave
therefore, it is wise to invest rationally.