Chinese whispers hit Bitcoin, again

Rumours suggesting the Chinese government was moving to block Bitcoin related traffic on its networks have been dismissed.

AccessTimeIconMay 24, 2013 at 10:25 a.m. UTC
Updated Sep 10, 2021 at 10:47 a.m. UTC

Rumours suggesting the Chinese government was moving to block Bitcoin related traffic on its networks have been dismissed.

News stories about China routinely get traction without being checked and elements of the Bitcoin community seem happy to believe anything which fits with their world view.

But forum posters on Bitcointalk quickly moved to quash rumours that Chinese telcos were being warned to block bitcoin-related traffic.

The original poster quoted a supposed email which said:

"We got further information from our carrier confirming that business such as bitcoin is not a proper financial tool in China and the Authority may treat bitcoin as an illegal business. Unfortunately the China Telecom Authority has requested that all bit-coin traffic to China be blocked."

But other posters reported using China Telcom networks without problems.

China's convoluted censorship system, called Golden Shield, doesn't usually email people with explanations either.

Data from Sourceforge showed that Chinese computers were continuing to download thousands of Bitcoin clients - see here for the Sourceforge charts.

Blockchain.info also showed recent connections to China-based bitcoin nodes. 

China has moved up the rankings to second place behind the US for Bitcoin client downloads, and shows no sign of slipping yet.

The original thread is here.

A previous Chinese Bitcoin rumour was that the People's Republic was about to back Bitcoin - the basis for this was a documentary on Chinese state television.

The Chinese government has squashed previous alternative currencies when people started using them in the real world.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
DeFi Troubles in a Bear Market

Notional Finance CEO Teddy Woodward discusses the current crisis facing many DeFi lending and borrowing protocols.

CoinDesk - Unknown
2
CoinDesk - Unknown
Bitmark Raises $5.6M, Launches Interoperable NFT Wallet

The wallet, named “Autonomy,” is looking to bridge the gap between mainstream art collectors and the world of NFTs.

CoinDesk - Unknown
3
CoinDesk - Unknown
Solana-Based Chingari Tokens Plunge 87%, Developers Flag Big Sell Order

The team denies rumors of an exploit or insider trading.

CoinDesk - Unknown
4
CoinDesk - Unknown
Belgium Regulator Ponders Crypto as a Security

The EU’s landmark crypto law won’t take effect for a couple of years, but existing stock-trading rules may still apply, financial regulator FSMA says.

CoinDesk - Unknown