Topic: China banning bitcoin exchages, good or bad? - page 4. (Read 8147 times)
I think this will not bring any impact, and this is proven because bitcoin users are so strong that the price is not on the floor. bitcoin users around the world including in china will keep bitcoin even though its government banned bitcoin.
This, of course, had a negative effect on the cryptocurrency, but still there is an opinion that China will soon resolve the cryptocurrency in its country.
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
That bad, that is of the one reason why bitcoin users decreased this 2019 because of that strict implementation to avoid using Bitcoin or specially to ban the exchanger which is needed by each user.
This could be a bad thing for cryprocurrency community. It's a huge loss of population.
After a ban or regulation at that time, has triggered a massive panic sale in China, inevitably the value of bitcoin also experienced a very sharp decline. For us, this tragedy is a heartbreaking story that I may never forget forever.
Those happened long back when the price was plunging towards the peak. Now quite often they were making regulations to make everything functional in an orderly manner. When China imposed ban upon exchanges the impact upon the price got affected, but didn't last long as the exchanges started to function with base on other countries.
After a ban or regulation at that time, has triggered a massive panic sale in China, inevitably the value of bitcoin also experienced a very sharp decline. For us, this tragedy is a heartbreaking story that I may never forget forever.
I think its a negative way that china was banning crypto because china has a big popularity of bitcoiner's or using crypto as I saw they started banning crypto the value of bitcoin and altcoins is dropping so its a bad thing for us.
I agree with you. Although China has issued a ban on Bitcoin in the country. But the ban on Bitcoin-related transactions will adversely affect non-Chinese nationals living and working in the country. It makes it difficult to use the property of a citizen in another country. And the Chinese market always has a great impact on world trade.
Well china now adapting cryptocurrency and that is the best thing that happen because we expect that there will be a good increase on its market price of the cyrpto in the market with the participation of the chinese people this could add a lively market to cryptocurrency. As we all know that the chinese do love cryptocurrency and CHina is one of the countries in the asia with a large consumer on cryptocurrency.
I do not think that's a good news. It's probably a bad news because this is a negative news that negatively affects the growth of e-currencies in the Cryptocurrency market. It will directly affect Bitcoin and indirectly to other electronic currencies. China is a very good trading market for investors. The ban from China is always worrying and confusing to investors.
It is not a big deal for the long term! I think it is a good measure to crack the scams OCO although there are some genuine ICO. As the adoption is increasing, many people realise the advantages of btc. It is hard to say what will happen with the policy.
I think its a negative way that china was banning crypto because china has a big popularity of bitcoiner's or using crypto as I saw they started banning crypto the value of bitcoin and altcoins is dropping so its a bad thing for us.
Of course you can say that banning of bitcoin of China can have a negative effect on the value of bitcoin. A great percentage of the users of bitcoin is from China as it is a big and populous area and banning it can ultimately reduce it.
Not to mention that the news of banning may influence other people's opinion about bitcoin negatively, it can be a trigger for other governments on succession.
we know that in china many big investors are staying, so this is very detrimental to bitcoin to continue its development. and that may be one of the factors falling btc prices to date. although we know that china has a plan behind it all Not to mention that the news of banning may influence other people's opinion about bitcoin negatively, it can be a trigger for other governments on succession.
It's was bad because the price took a tumble and it's good for traders and those that were intending to buy because it was cheap. It's also good because Bitcoin has proven again that it can be resilient eve against the dominant Chinese miners and market.
Of course you can say that banning of bitcoin of China can have a negative effect on the value of bitcoin. A great percentage of the users of bitcoin is from China as it is a big and populous area and banning it can ultimately reduce it.
Not to mention that the news of banning may influence other people's opinion about bitcoin negatively, it can be a trigger for other governments on succession.
Not to mention that the news of banning may influence other people's opinion about bitcoin negatively, it can be a trigger for other governments on succession.
This a story from a long time ago. But whenever a country ban crypto currency, then the people of that country will immedietly sell off thier holdings increasing the supply of coins in the market and plummeting the price in effect. That is always a bad news for all of us. But I'm pretty sure people will pick it up since it's so cheap.
Even the china will ban bitcoins in their country still I think that people there will hold BTCs there because if the government is unaware about the fame and popularity of BTCs, I am sure the people wouldn’t act like that because they know about a well and secure future of BTCs ahead. And if they become panic and sell out their BTCs, I know people all over the world would instantly buy them. 
In my opinion, anything that relates to banning bitcoin has a bad effect to the cryptoworld, but it might hasve some good effects as well. I believe these banning of cryptocurrencies in some countries only means that the cryptoworld is gradually taking over the fiat system and that is a good thing for the cryptocommunity.
Obviously it loses value with a smaller community.
The Asian market is too large for Bitcoin to just fail in Asia especially since the Asian markets have such a large impact on the flow of Bitcoin along with other Altcoins. While China is attempting to totally ban Crypto exchange and totally stop mining because of cautionary tales such as the city of Shenzhen feeling the effect of mining pollution, their Asian counterparts Japan are allowing their one of their biggest financial service agents to move forward with plans to open a Crypto exchange in the near future and people in china are still within the trade of Crypto through other means than exchanges. There is a lot of FUD in the Chinese region about Crypto but that looks to be mainly in terms of environmental issues and security issues but that will soon become a moot point with the progression to Proof Of Stake models such as Proof of Ambassador in projects like Bitcoin Origin involving no physical mining at all.
https://cointelegraph.com/news/japans-financial-services-giant-sbi-launches-crypto-exchange
https://cointelegraph.com/news/japans-financial-services-giant-sbi-launches-crypto-exchange
Of course it will adversely affect the value of bitcoin. In China there are 2 biggest markets bitcoin, ban and closing it makes the user can no longer use bitcoin. It causes the number of users to decrease and affect the value of bitcoin which also decreased.
Certainly bad news, China is the country's largest users of cryptocurrencies so if the Chinese government banned bitcoin, exchanges and ICO it will have a major impact on the declining number of users.
Jump to: