Why China rejects bitcoin?

The control of bitcoin abroad, if all China, or a country's people will be one-third of their country's currency have been replaced by bitcoin, which is like a third of the country's GDP donated to the bit The issuer of the currency, that time, the sovereign currency will be uncontrolled devaluation, because bitcoin can be unscrupulously issued, the sovereign currency will not be able to curb the liquidity in the market, so to speak, any virtual currency, including vouchers As long as the circulation of stocks, bonds and futures is large, they eventually lead to the financial crisis. In other words, as long as the large circulation currency can control and lead to the financial crisis.

Why can the Communist Party resist it? Because the sovereign currency of the renminbi can not shake the position in the country, there is no way for large amounts of dollars to circulate directly in China. Overseas investments into the Chinese market can only be converted into renminbi first, and the dollar can not be used directly. Try cabbage, I promise, the seller will give you the first exchange of RMB.