Topic: China banning bitcoin exchages, good or bad? - page 17. (Read 8124 times)
Banned of local exchanger's is bad for Bitcoin market both local and international markets in a short term but in a long run Bitcoin will definitely regained it momentum in upwards move. Chinese according to online data own over 45 percent Bitcoin in circulation and because of this they have strong influence on Bitcoin and other altcoins. We would need time to reduce this influence Chinese people has on Bitcoin and ctyptocurrency in general.
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
That's right that China is one of the largest market holder and firm around the world and maybe it's a bad news because China is one of the location of the world's highest investors and investment being done.The banning of China on Bitcoin makes a negative impact especially in the Bitcoin community because we lose one of the highest investors.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
No,china's ban on ICOs just had a negative impact on bitcoin's price for only two or three days resulting in bitcoin price to reach $3,100.But soon it recovered and now its almost $3,961,.This clearly shows that bitcoin is no more dependent on china for its future.Its good that the world has now realized that bitcoin has investors world wide more than in china.Now,its time to set up more mining farms in other parts of world to make mining once again decentralized thus getting completely out of china's control.GMO,japan's leading internet company has announced the manufacturing of ASIC miners.So,in a long term basis,china banning bitcoin exchanges is only good for bitcoin.
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.
In the short term, obviously bad for the price of BTC, with a lot of ppl liquidating their holdings.
However, after the initial shock I think this can actually be good, as exchanges with more robust regulatory compliance prop in China. Yes, I believe it would be impossible to ban cryptocurrency trading in china, and a long-term ban will only push business more underground and out of governmental control (and taxation
). And they know that too. They cannot afford to stay closed from the world on this one, and on the long term this will further inflate the price of btc
On the positive side and on the short term, I think a lot of smart chinese crypto-investors will invest in foreign ICOs and cash out abroad in another currency.
However, after the initial shock I think this can actually be good, as exchanges with more robust regulatory compliance prop in China. Yes, I believe it would be impossible to ban cryptocurrency trading in china, and a long-term ban will only push business more underground and out of governmental control (and taxation
). And they know that too. They cannot afford to stay closed from the world on this one, and on the long term this will further inflate the price of btcOn the positive side and on the short term, I think a lot of smart chinese crypto-investors will invest in foreign ICOs and cash out abroad in another currency.
Im not sure, because I have only read it somewhere... But I have found few informations and facts that China doesn't ban exchanges(China bans ICOs*) for exchanges China only makes or creates new restrictions, principles etc. toward decrease fraud and money laundering. So China implements very important features for me which should bring only benefits in future. So don't be afraid.
bitcoin recently decreasy its price as in big dump for past few days after china declared that they're going to stop exchanges of bitcoin on september 30 so people who owns bitcoin do panic selling that's why bitcoin dump under $3000 but after it dump really low price many people bought bitcoin because they know that bitcoin could increase again so looks what happen bitcoin over $3500 again. 
Price is recovering fast, But we must remember that it wasn´t only the news that came from China those that recently affected the market but also statements by CEO from a well-known firm which caused the double panic in some peoples and further impacted the market, On the other hand, The measures taken by China is an event to reflect on and although I do not know if those will be effective yet, Perhaps the most worrying for most peoples is to identify where sources come from and whether they are reliable or not, And the purpose of these.
I think good because bitcoin is not a currency but digital goods useful as a means of
barter or investment that promise ban on bitcoin in China will not have a big effect on
the exchange rate of bitcoin instead predicted will continue to grow because the
enthusiasts betkion a lot and began to spread to various worlds . bitkoin also has many
benefits in cross-country transactions so that it will remain useful and remain in interest
by the commodities bitcoin
barter or investment that promise ban on bitcoin in China will not have a big effect on
the exchange rate of bitcoin instead predicted will continue to grow because the
enthusiasts betkion a lot and began to spread to various worlds . bitkoin also has many
benefits in cross-country transactions so that it will remain useful and remain in interest
by the commodities bitcoin
If they'll ever close down exchanges there (which I think they wouldn't), then it is good for us and bad for them. Money Chinese citizens invested in bitcoin would evaporate into thin air. Those left in exchanges they might not be able to take back and if they did they'd be worthless. Same with those in their wallets. As for us, bitcoins would be cheaper for a time until some other country take the lead.
Now let's just hope they don't close them mines as well.
Now let's just hope they don't close them mines as well.
China closing down exchanges would be the dumbest thing they could possible do, and they are not that stupid. China are masters at manipulating currency. I think the recent dip and huge jump are caused mostly by them, actually.
Sorry for the late reply, had a fun weekend. Yes, I think that would really be a dumb move, to just indiscriminately close down exchanges. Which is why I think they released this rumor several weeks ago to scare weak hands into selling. 2 exchanges have already announced closure though (not sure if they already closed) and some have already met with regulators and might announce soon.
Would that mean there will no longer be more exchanges? I don't think so. Some would definitely open to take the place of these. Wouldn't be surprised if those are with insider tips and bought the bitcoins that were dropped.
The layman see the ico ban in china is a negative thing. That news is a universal negative sentiment in the krypto world. Expert said that this is not long term problem. Essentially the ico ban does not directly affect bitcoin. But the news creates a negative market sentiment on the price of some altcoin.
It seems to me that you exaggerate the importance of the prohibition of IKO by the Chinese. I don't see anything wrong with that. Yes, the price of all crypto currencies, but this is a game of whales. If you keep calm then you will not lose anything. I'm sure that the loss of the China monopoly in the market of crypto will only benefit. The layman see the ico ban in china is a negative thing. That news is a universal negative sentiment in the krypto world. Expert said that this is not long term problem. Essentially the ico ban does not directly affect bitcoin. But the news creates a negative market sentiment on the price of some altcoin.
It affects the bitcoin too because if chinese government banned the ico then there will be no ico investors in that country and the demand of bitcoin came from the ico investors also because they want to invest so they need to buy some bitcoin and if the countries that is one of the biggest contributor ban ico then it is a bad news for all the cryptocurrencies but like you said, it is not for long term and everything will be fine in the future. 
The layman see the ico ban in china is a negative thing. That news is a universal negative sentiment in the krypto world. Expert said that this is not long term problem. Essentially the ico ban does not directly affect bitcoin. But the news creates a negative market sentiment on the price of some altcoin.
Whether good or bad, oklyntime will tell but one thing I know is that with all this episode, a lot of people will lament on how they have losrbsome money why some other people will see this as an opportunity to even make massive return within a short period of time. In essesnxe, its bad for the losers while its the best for those who will seize the chance to make a fortune out of it.
Well China as a country has the right to ban the activities involving bitcoin in China but can't ban bitcoin totally cause why bitcoin is a decentralized currency wise is not subject to any central bank of any country.
In fact this is not the first time China will place a ban on bitcoin, and the ban can only affect bitcoin price for some time because why it will cause panic and people will rush to sell the bitcoin but it will pick up again very soon.
In fact this is not the first time China will place a ban on bitcoin, and the ban can only affect bitcoin price for some time because why it will cause panic and people will rush to sell the bitcoin but it will pick up again very soon.
bitcoin recently decreasy its price as in big dump for past few days after china declared that they're going to stop exchanges of bitcoin on september 30 so people who owns bitcoin do panic selling that's why bitcoin dump under $3000 but after it dump really low price many people bought bitcoin because they know that bitcoin could increase again so looks what happen bitcoin over $3500 again.
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
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
For me it is bad, why? Simply because bitcoins value drops because of that incident. Banning all the cryptos in china is a big mistake. A lot of investors including us, loss a lot of money because of that. China is a big country with a lot of bitcoin users and enthusiasts. With them being unable to use bitcoins the popularion of bitcoins will reduce and so does the value of it. That is whybthe value of bitcoins today are getting low and those who holds their bitcoins are going crazy, they are panic selling it.
First in the beginning its bad for the market since so many sell-offs however it has open good opportunities for investors. Markets downfall is expected but the longterm benefits awaits, lets remember that Chinese exchanges holds big volume of cryptos and speculations claim that they control market prices. In conclusion closing their exchanges is benefit to many.
I think so too, although there are so many speculations that the most traders came from the chinese country or should we say they are mostly traders, i think because of its closure some of the traders are happy because of it, but still sad to say that are fellow chinese mens are prohibited to do this things.
First in the beginning its bad for the market since so many sell-offs however it has open good opportunities for investors. Markets downfall is expected but the longterm benefits awaits, lets remember that Chinese exchanges holds big volume of cryptos and speculations claim that they control market prices. In conclusion closing their exchanges is benefit to many.
China banning Bitcoin exchanges is bad, but I don't think this is a permanent thing only temporary.
As per observation banning ICO's of China it was result of falling down of bitcoin. More user's in the whole world would be affected because of this. However, I think it was not permanently because some community of china was largely damage because of banning ICO's. I was hoping together with the other users to unbanned the ICO's of China. 
China has gone so far as to build entire fake cities in an effort to artificially boost its GDP. Banning bitcoin exchanges will likely result in a hit to china's overall GDP as closing exchanges could have a negative effect on china's job market and investment sector.
Over the long term, china unnecessarily restricting the innovation and progress which crypto represents is only likely to weaken their economy over the long term, while other nations like japan, australia and russia are in a better position to benefit from crypto's growth.
Over the long term, china unnecessarily restricting the innovation and progress which crypto represents is only likely to weaken their economy over the long term, while other nations like japan, australia and russia are in a better position to benefit from crypto's growth.
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