China banning bitcoin exchages, good or bad? - page 21.

lordquanta

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Quote from: Yuhee on September 13, 2017, 01:29:15 AM

Quote from: lordquanta on September 13, 2017, 01:22:13 AM

Quote from: Blue2012 on September 13, 2017, 12:19:16 AM

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It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

We cant really blame them because there was another news that they ban ICOs in china. Maybe this is the result of that banning. Most government would see btc as an economic because it is virtual. They really dont have a full control of any virtual currency so i guess they may start there own virtual currency so that they wont be left out in this kind of investment. Maybe they banned it because they already have there own virtual currency.

This makes sense when one observes how online trading/shopping happening in China. Everything is connected by single chinese government controlled app. At this point bitcoin is posing threat to this control. Nothing wrong on Chinese govt part as they are trying to get everything in line. They may introduce their virtual currency as it is less hassle and easy to administer.

lordquanta

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Quote from: djsugar on September 12, 2017, 11:53:46 AM

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.

Indeed. If you see the immediate effects are visible. The bitcoin price has tumbled below $4000 and may continue same path for few more dollars. Best part is bitcoin will rise higher and grow stronger in its recovery. We have seen bitcoin doing that again and again. Every fall in price is followed new and higher peak price.
Thus in way this is great time to buy bitcoin and earn profit when bitcoin goes in bull-run phase.

Yuhee

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Quote from: lordquanta on September 13, 2017, 01:22:13 AM

Quote from: Blue2012 on September 13, 2017, 12:19:16 AM

.
.
.
It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

We cant really blame them because there was another news that they ban ICOs in china. Maybe this is the result of that banning. Most government would see btc as an economic because it is virtual. They really dont have a full control of any virtual currency so i guess they may start there own virtual currency so that they wont be left out in this kind of investment. Maybe they banned it because they already have there own virtual currency.

lordquanta

sr. member

Activity: 770

Merit: 268

Quote from: Blue2012 on September 13, 2017, 12:19:16 AM

.
.
.
It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

Blue2012

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Quote from: kkofor on September 13, 2017, 12:09:07 AM

Quote from: Lumada on September 12, 2017, 11:33:55 PM

Quote from: shine1123 on September 11, 2017, 11:32:48 PM

Quote from: lordquanta on September 11, 2017, 05:51:21 AM

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

I'm still confused about that news, so China government only ban ICOs and local bitcoin exchanges right ? So chinese people still can use bitcoin and use outside exchanges like bittrex and some else ? Actually it's bad for chinese people who use bitcoin on their country but it's also give a bad affect into the bitcoin price nowdays.

Definitely,see btc value now it lowers to $4000 , China been affecting its value this past week and does really make big commotion onthe btc world. Hope it can fixed their issues on it.

that is just some news from China. I believe China will not ban any exchange. They always say that but never really do

It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

kkofor

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Quote from: Lumada on September 12, 2017, 11:33:55 PM

Quote from: shine1123 on September 11, 2017, 11:32:48 PM

Quote from: lordquanta on September 11, 2017, 05:51:21 AM

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

I'm still confused about that news, so China government only ban ICOs and local bitcoin exchanges right ? So chinese people still can use bitcoin and use outside exchanges like bittrex and some else ? Actually it's bad for chinese people who use bitcoin on their country but it's also give a bad affect into the bitcoin price nowdays.

Definitely,see btc value now it lowers to $4000 , China been affecting its value this past week and does really make big commotion onthe btc world. Hope it can fixed their issues on it.

that is just some news from China. I believe China will not ban any exchange. They always say that but never really do

Lumada

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Quote from: shine1123 on September 11, 2017, 11:32:48 PM

Quote from: lordquanta on September 11, 2017, 05:51:21 AM

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

I'm still confused about that news, so China government only ban ICOs and local bitcoin exchanges right ? So chinese people still can use bitcoin and use outside exchanges like bittrex and some else ? Actually it's bad for chinese people who use bitcoin on their country but it's also give a bad affect into the bitcoin price nowdays.

Definitely,see btc value now it lowers to $4000 , China been affecting its value this past week and does really make big commotion onthe btc world. Hope it can fixed their issues on it.

nikkibinsi

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Quote from: BitPACK on September 11, 2017, 09:32:28 AM

those news are not new. bitcoin price already down 10% with this news. why still opening new thread with same news?

RodneyKings

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Quote from: FrueGreads on September 11, 2017, 06:41:19 AM

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.

I agree. These issues regarding bitcoin will surely pass in time and I am sure the crypto market will just recover after that. I'm excited to see bitcoin in the $5K mark.

Nicol3

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With this current decision from China I think it's both good and bad. Good because if it does happen, chances are the coins will drop down its price giving chances to the investors and people as well to buy bitcoin at a cheaper price; bad because it won't look good if it happens. What about those people who are trading and lives in China, they won't be able to make a transaction because the government issued a ban of all local exchanges.

batang_bitcoin

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Quote from: lordquanta on September 11, 2017, 05:51:21 AM

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

I have two points on this and it's positive and negative.
1. The whole bitcoin world is affected and every time we are seeing a negative news in China, the price of bitcoin get's down.
2. And for those bitcoin miners in China they can possibly shift into some other alt coins and leave bitcoin and this is positive to their other miners around the world because the competition will reduce it's difficulty.

pinkflower

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Quote from: fanbeila on September 11, 2017, 11:31:57 PM

In a long term basis,it's good for bitcoin progress.Its because bitcoin has already suffered a lot due to price manipulation by chinese bitcoiners and dominance of bitcoin miners.We could not forget the hurdles created by chinese mining pools and miners in activating segwit.Earlier,bitcoin market was mostly dependent on china for every thing.This move by china could hurt bitcoin price temporarily,but in the long run,it would help mining pools spread in all parts of the world and by this way,the dragon era would finally come to an end soon.

Do you think its only the Chinese who try to manipulate BTC's price? That would be naive of anyone if they think thats true. Market manipulation happens everywhere and can be done by the select players from different counties. By taking China out of BTC trading, it would make it a lot easier to manipulate by the players left because of the reduced liquidity and volume.

janeparamas

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Quote from: djsugar on September 12, 2017, 11:53:46 AM

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.

Of course china is a big market for cryptocurrencies and by banning exchanges its really give a huge affect into cryptocurreny world. Look at the price of bitcoin right now, the price is falling so hard. Its around $4,030, i'm afraid it will continue fall more deeper than before.

左

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Looking at the price movement now, obviously bad for btc.

djsugar

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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.

kamikadze69

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of course it will cause a bad thing, because china is very strong in the field of mining, so when they issued the regulation semcam it, certainly will cause an extraordinary effect for the world of crypto

killerfrost

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Quote from: lordquanta on September 11, 2017, 05:51:21 AM

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

I think China's ban on using BitCometin locally will undoubtedly affect Bitcoin prices. However, Bitcoin is distributed around the world via the underground system, hiding account holder information, so there are still people using Bitcoin in China that will happen. Because they recognize the potential and development of Bitcoin

Sang Prabu

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Of course bad because china is the world's largest bitcoin user so when they are banned of course will have a very big impact for bitcoin prices.

Dontme

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Quote from: lordquanta on September 11, 2017, 05:51:21 AM

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

If that so, that government of china ban the local bitcoin exchanges their is possibilities that bitcoin gets a bad impact too because that was one of the foundation of bitcoin but I do believe that bitcoin eill conquer those because of some foundations left in its side. It is not only local exchanges of china but their are more connections. Bitcoin can stand because of it's great foundation that bitcoin build since it was started. Their is a good impact too because "if door close there will be more doors to open". There will be a new great foundation to be there to function again.

barhavsky

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I think it's bad news because a lot of people from China are investing in huge amounts. with the ban may be the amount of investment will decrease.

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