China’s Great Firewall blocks Ethereum blockchain websites

Sorry folks, I honestly believe Monero on Binance is a non-starter, and they'll never re-enable it. Details inside.

Monero is essentially the only truly private and anonymous cryptocurrency when used properly [that you can trust is actually private].
Binance is a Chinese company and China has ridiculously strict fiscal controls on its citizens & businesses (you can't move money out of the country without government approval, for example). A few months ago they cracked down on the crypto exchanges and people were speculating they were banning bitcoin. They didn't ban it, but they wanted to make sure the exchanges were following Chinese law. Bitcoin is allowed because they can track it and observe it. They can also control it to an extent given that the majority of the mining hashrate rests behind China's great firewall. Monero, on the other hand, allows them to circumvent all of China's fiscal regulations and controls, and do so anonymously. It would allow anyone, from Chinese peasant farmers to their billion dollar businessmen to do whatever they wanted with their money without government approval or oversight. This is a huge no-no. China isn't having any of that nonsense.
Hence, the real reason why Monero and Binance are having problems. I will no longer use this exchange because I don't want to support that kind of business (or politics, oppression, whatever the Chinese communist party are in the mood for that day). People seem to forget... While China has become slightly more capitalistic these past 20 years, it's still one of the most authoritarian governments on the planet.
submitted by QnA to binance [link] [comments]

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A third of the world's biggest crypto exchanges are based in China and they have accounted for the lion's share of Bitcoin transactions in the first half of 2019. Due to regulations introduced in the last year, Bitcoin is teetering on the edge of getting banned and the Celestial Empire is no longer the king of the crypto jungle. This is how events escalated. He added that the state is very adept at filtering web content and the Great Firewall is generally accepted as a way of life. He added that they will probably try a similar approach to blockchain. When asked about the latest fiasco regarding offices getting raided in China CZ clarified; “Binance does not have legal entities in China. We have no office, though we have made some investments ... China’s Great Firewall blocks one of the most popular Ethereum blockchain websites By Giorgi Mikhelidze - 4 Dec 2019 With no exact explanation, the Etherscan.io website, one of the most popular and widely-used Ethereum explorers, was banned from the China mainland as of Tuesday, December 2nd. Another reason why China is a threat to Bitcoin is the fact that it has the Great Firewall and the Great Cannon. These are tools mainly used to filter what people see online. However, this can also modify traffic in the country. And ultimately, it can affect Bitcoin’s network. Because of the Great Firewall, Chinese miners were incentivized to mine so-called “empty blocks”. And because of ... They cite China’s operation of a variety of Internet control measures that can affect Bitcoin traffic including the most well-understood system – the Great Firewall (GFW). On the contrary Some of the arguments that may be raised against this study are that the claims are not likely to happen. First, the fact that the centralization of ... How China Took Over the Cryptocurrency Mining Industry. Long before China came up with plans for the digital yuan, decentralized cryptocurrencies were extremely popular in the region. From Bitcoin to Ethereum and newer projects, Chinese citizens invested significantly in almost every token.

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