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Musk said Tesla will accept Dogecoin payments: Why is virtual currency banned in China

According to Reuters reported on the 14th, Tesla CEO Musk tweeted on the same day, "Tesla will allow the use of Dogecoin to buy some goods to see how it progresses." Tesla will accept Dogecoin as a payment method in the form of a test, which has increased the cryptocurrency that was born out of memes by 24%.

Musk said Tesla will accept Dogecoin payments: Why is virtual currency banned in China

Each country's attitude towards virtual currency is completely different, China clearly prohibits virtual currency transactions, why should we ban virtual currency transactions.

As we all know, virtual currencies need to be obtained through "mining". If you want to quickly "mining" need to configure a high computer, "mining" process also consumes a lot of electricity, China mainly relies on coal power generation, "mining" is equivalent to disguised increase in environmental pressure, a large number of physical coal power into virtual currency, contrary to high-quality economic and social development and energy conservation and emission reduction.

Virtual currency is difficult to supervise and is easy to be used by criminals to carry out false transactions, money laundering and other operations.

Virtual currency has no real value support, the price is easily manipulated, the instability of the currency itself increases the risk, do not speculate on the virtual currency, optimistic about their own money bags.

On June 19, 2011, the cyber theft and hacking of mt.gox led to the leakage of thousands of users' information and passwords, and the value of bitcoin on that day fell from $17.5 to $0.01 in a short period of time.

Whether it is Bitcoin, Dogecoin or other virtual currencies, a few words of the big V may affect the price direction of the virtual currency.

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