Topic: China banning bitcoin exchages, good or bad? - page 14. (Read 8149 times)
Well knowing that banning exchanges does make some extra investors to left and leave crypto its bad news, but for other side this exposes and clears any doubts that China doesnt control bitcoin, can influence it and damage but as some people thinked they haven the control over it, big miners are located there, but Russia already open the doors to those big companies.
Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China.
Do you think this would affect bitcoin world and bitcoin price in negative way or positive way? Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.
[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11
It is obviously bad for bitcoin economy because we all know that China has a big contribution on bitcoin as well as on other things so if Chinese government ban the bitcoin in China totally there is a big total loss.Do you think this would affect bitcoin world and bitcoin price in negative way or positive way? Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.
[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11
Which total loss do you refer to?
It has been been inadvertently proven by the Chinese authorities themselves that China is not a big player in the Bitcoin world apart from mining but this is gonna change too in the nearest future due to involvement of Japan in Bitcoin mining. So I don't really know what big loss we might suffer. Further, I have heard rumors that these threats of banning Bitcoin in China are no more than part of political agenda of some clans inside the CPC before the Politburo elections which are to be held October, 18th, and thus they are of no real importance or significance (apart from usual pump and dump) since no one is actually going to ban Bitcoin in China
Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China.
Do you think this would affect bitcoin world and bitcoin price in negative way or positive way? Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.
[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11
It is obviously bad for bitcoin economy because we all know that China has a big contribution on bitcoin as well as on other things so if Chinese government ban the bitcoin in China totally there is a big total loss. Do you think this would affect bitcoin world and bitcoin price in negative way or positive way? Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.
[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11
It is obviously bad for a mean time just like what happened these days, bitcoin price in the market has dropped because of the issue but immediately recovers for a few days.
Bitcoin price will fall down if users are not allowed to work on bitcoin in some part of world. Same happened in China and we have seen the immediate effect on market last week. Definitely bitcoin will rise again and things will be fine but for now it is really bad.These types of Govt exists in all countries even in my country and no one can control Govt decision. let see what will happen at the end of OCTOBER.
It is obviously bad for a mean time just like what happened these days, bitcoin price in the market has dropped because of the issue but immediately recovers for a few days.
Bitcoin price will fall down if users are not allowed to work on bitcoin in some part of world. Same happened in China and we have seen the immediate effect on market last week. Definitely bitcoin will rise again and things will be fine but for now it is really badAnd what did we see last week?
Or a week before the last week? Bitcoin flash crashed down to 3,000 dollars but now it is trading at around 4,000 dollars per coin. If what you say were true (i.e. if "users were not allowed to work on bitcoin in some part of world"), how could it possibly happen that Bitcoin rebounded 1,000 dollars within a week? Have all these people been allowed "to work on bitcoin" again or what? I guess if you claim that the price went down because some (a lot of) people were forbidden from dealing with Bitcoin, you will have hard time explaining how the price went up again so fast so soon
It is obviously bad for a mean time just like what happened these days, bitcoin price in the market has dropped because of the issue but immediately recovers for a few days.
Bitcoin price will fall down if users are not allowed to work on bitcoin in some part of world. Same happened in China and we have seen the immediate effect on market last week. Definitely bitcoin will rise again and things will be fine but for now it is really bad.China is the most populated country and it does hold many bitcoins users..since China has decided to ban the bitcoins exchange.. Now what will happen is...all those people who posses btc.. they will return all that btc in the market again...and offcourse then the price will go down
This may be completely irrelevant
It doesn't matter how many folks live there if they are mostly poor and live paycheck-to-paycheck. I don't really know if the majority of population in China really receives a paycheck and not just a bowl of rice for their daily toils. Anyway, there are certainly wealthy people in China (I call them nouveaux riches, i.e. new rich men), but to me it is unlikely that they are going to part with their Bitcoin stashes. If you ask me, they would rather settle in some other country, in a more Bitcoin friendly one, if things go from bad to worse for them personally
China is a huge market of cryptocurrencies. Their banning of Bitcoin exchanges will definitely have a negative impact on the market. Market might experience a relatively large dump. But market as always will ultimately recover and will come back on track.
Yes there will be a negative impact on the cryptocurrencies of china and trade in digital currency will be effected as this decision will be suffered by the china and a lot of talks are being made to take off this decision because bitcoin are progression and in coming future all the business will be done in cryptocurrencies more likely in bitcoin so they should rethink on their decisionRight. And when it bounces back without the chinese, that means that btc has become stronger and had more solid support that it doesn't need the chinese market anymore no matter how big it is.
China is the most populated country and it does hold many bitcoins users..since China has decided to ban the bitcoins exchange.. Now what will happen is...all those people who posses btc.. they will return all that btc in the market again...and offcourse then the price will go down.
We can't say its bad or good.. because its something that country's leader has decided and offcourse it is supposed to be for the welfare of China.
But due to this market rate of bitcoins will go down...but since its getting more and more popular it will soon recover.
We can't say its bad or good.. because its something that country's leader has decided and offcourse it is supposed to be for the welfare of China.
But due to this market rate of bitcoins will go down...but since its getting more and more popular it will soon recover.
I heard the news that the Chinese exchanger is a full bot, so that easily the price can be controlled. if the government of China banned exchangers I think this will not have a big impact for bitcoin.
It seems like they're cleaning house - banning is a misused word here
China banning Bitcoin exchanges is a great thing. It showed people that we don't need them, look at the price, and Bitcoin got more decentralized because of it.
Let's see whether they make an exciting comeback with new regulations before deciding they're forever closed, but overall it's fairly neutral.
It's not good that a huge population is being cut out of the market. The years of endless fuckery caused by China have not been good either.
China's irrelevance at the start of the year coincided with the huge rise. This says that they're not leaders and were probably suppressing the price.
If China never comes back then the market will be smoother and quieter. I for one will not miss them desperately.
It's not good that a huge population is being cut out of the market. The years of endless fuckery caused by China have not been good either.
China's irrelevance at the start of the year coincided with the huge rise. This says that they're not leaders and were probably suppressing the price.
If China never comes back then the market will be smoother and quieter. I for one will not miss them desperately.
The banning could only make bitcoin to have a little slow down but after sometime it will pick again because conglomerate and countries including Japan are supporting for their transactions and payment.
It's good because it's brought the strength of Bitcoin to bear for the whole world to see. If the Chinese with all their machinations against Bitcoin couldn't keep it down then I guess Bitcoin has shown true character and strength.
Bitcoin had shown its resilience and strength before that
Before 2017 there was a sort of consensus that Chinese were playing a major role in the Bitcoin world, but when right after then New Year the Chinese central bank had launched its attack against local exchanges, it became abundantly clear that Bitcoin didn't and doesn't belong to China. But, as the saying goes, repetition is the mother of learning, so those who can't learn it any other way should learn it the hard way and likely lose their money if they still believe that China is of any importance in the Bitcoin world (at least, in respect to Bitcoin trading)
I've kinda heard about that news before, but can't really recall it well. Anyway, yes I agree that with due respect for those Chinese traders, China doesn't really play a big role in bitcoin, and it cannot trigger the flowing of bitcoin to go down even the market, its because I have also heard that the banning of crypto in China is up until Oct 18, so further than that the continues flow will still go on.
The banning could only make bitcoin to have a little slow down but after sometime it will pick again because conglomerate and countries including Japan are supporting for their transactions and payment.
It's good because it's brought the strength of Bitcoin to bear for the whole world to see. If the Chinese with all their machinations against Bitcoin couldn't keep it down then I guess Bitcoin has shown true character and strength.
Bitcoin had shown its resilience and strength before that
Before 2017 there was a sort of consensus that Chinese were playing a major role in the Bitcoin world, but when right after the New Year the Chinese central bank had launched its attack against local exchanges, it became abundantly clear that Bitcoin didn't and doesn't belong to China. But, as the saying goes, repetition is the mother of learning, so those who can't learn it any other way should learn it the hard way and likely lose their money if they still believe that China is of any importance in the Bitcoin world (at least, in respect to Bitcoin trading)
Last week,we saw that china banning exchanges had a negative impact on bitcoin price.But it was only temporary.Very soon,bitcoin price managed to increase and now its price is $3,950.
China was not at all comfortable with bitcoin from the beginning.It was just waiting for a time to start its actions against bitcoin and a week before,it started.China does not want money laundering being promoted using bitcoins.Its now taking strict actions against bitcoin exchanges and very soon,its going to issue licenses only to exchanges which fulfill its rules.
In a long term basis,china banning exchanges is good for the progress of bitcoin because bitcoin would get totally free from depending on china and also mining farms would get promoted in other parts of the world which would bring decentralization once again in mining.
Chinese have never been loyal to bitcoin ad i think its time now to say good bye to china.
China was not at all comfortable with bitcoin from the beginning.It was just waiting for a time to start its actions against bitcoin and a week before,it started.China does not want money laundering being promoted using bitcoins.Its now taking strict actions against bitcoin exchanges and very soon,its going to issue licenses only to exchanges which fulfill its rules.
In a long term basis,china banning exchanges is good for the progress of bitcoin because bitcoin would get totally free from depending on china and also mining farms would get promoted in other parts of the world which would bring decentralization once again in mining.
Chinese have never been loyal to bitcoin ad i think its time now to say good bye to china.
There is still further news to come on this one in the coming days but initially it was a big shock to the market, for clarity though, exchanges have not been banned, unlicensed exchanges have been banned.
China is a huge market of cryptocurrencies. Their banning of Bitcoin exchanges will definitely have a negative impact on the market. Market might experience a relatively large dump. But market as always will ultimately recover and will come back on track.
Yes there will be a negative impact on the cryptocurrencies of china and trade in digital currency will be effected as this decision will be suffered by the china and a lot of talks are being made to take off this decision because bitcoin are progression and in coming future all the business will be done in cryptocurrencies more likely in bitcoin so they should rethink on their decisionRight. And when it bounces back without the chinese, that means that btc has become stronger and had more solid support that it doesn't need the chinese market anymore no matter how big it is.
I don't think this is anything new. If I'm not mistaken China already did that in the past. I think it will of course affect the price of BTC, because of all those panic sellers, and all of those that just use BTC to trade. The thing is, that China, although having a lot of users with BTC, does not really control them, and are not even banning them. So BTC will continue to be a good way of holding value. So the price will go down a little, and them will just recover, because the guys that know the true value of BTC, will just hold them around the world.
Apparently, it seems that government of China has banned bitcoin in their country irrespective of the fact that their country have a huge number of bitcoin users. They can’t actually control people from using bitcoins because they bitcoins are the most secured and exponentially growing currency which is accessible to anyone from any corner of the world. China is a huge market of cryptocurrencies. Their banning of Bitcoin exchanges will definitely have a negative impact on the market. Market might experience a relatively large dump. But market as always will ultimately recover and will come back on track.
Yes there will be a negative impact on the cryptocurrencies of china and trade in digital currency will be effected as this decision will be suffered by the china and a lot of talks are being made to take off this decision because bitcoin are progression and in coming future all the business will be done in cryptocurrencies more likely in bitcoin so they should rethink on their decision Jump to: