China bans Bitcoin again in 2021 | Bitcointalksearch.org

BitcoinLegends

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China appears very two-faced when it comes to Bitcoin. China has banned Bitcoin dozens of time.

2013: Crackdown on Banks and Payment Processors

2017: Closure of Local Exchanges

2019: A Warning to Miners

at the same time while china bans Bitcoin . China hosts the majority of Bitcoin hash rate — around 65% . Heck of a ban. China is good at banning things. If it wants something banned it would not still hold 65% of hash rate

DOH!

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Quote from: Lorence.xD on May 19, 2021, 01:33:12 AM

Quote from: liao chandra on May 19, 2021, 01:30:07 AM

china once again bans bitcoin in 2021. Even though as far as I know, China also wants to make their own digital currency. This causes the market to fall again, potentially crashing again. Hopefully there will be no more negative news because it can make bitcoin prices fall again.

They are a hypocritical government because they own a lot of bitcoin and bitcoin mines, they ban it because they want to solo the profits of bitcoin. This ban won't last, they just want to make sure that crypto businesses that are operating in mainland to know who's the boss.

They imposed it and it was their mistake. XCH has been mined, they will realize what they have and what they have lost. The anchors in bitcoin mining are separated and removed from China, the loss belongs to them. It has gone through the Carbon section which it deserves to consider in terms of renewable energy. But no, that was their plot. Bitcoin will go up soon before China realizes its big mistake. Pray God.
China has weakened in the bitcoin market.

geegaw

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Quote from: Rajamuda on June 27, 2021, 04:47:21 AM

This is what causes many people to panic until the downtrend that has occurred has become a threat for some people. I just hope things get better soon from whatever happens to the crypto world related to countries or governments and hopefully bitcoin will remain in its popularity so that it can make more many people believe it again.

We need to wait for more good news as this china thing really affects those holders and traders, the decision making take a tough time either you sell and try to buy with much cheaper value.

Or keep holding then and more spare money with those cheap coins that being dumped. Just make sure that you do understand your position and have a good faith with your decision.

Precisely, it is necessary to distinguish whether we are in a disadvantage or neutral to make more decisions, every correct and timely decision, it will break the link between us and the negative, help us cancel the damage from bad news and increase the chance. In the long term, bitcoin will still have a recovery, China is just a very brief pause and after a stable arrangement, bitcoin will continue its predetermined journey, today's price chart shows the first reversal, can see the ban from China has been disabled

SoeNan89

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China is an expert in imitation of all kinds, but in crypto they are losing out on imitation. And it seems that China is desperate to stop the advance of cryptocurrencies. They know that they will have a hard time stopping decentralized ecosystems so they are now targeting centralized ones who use cryptocurrencies as their service/product. China really never stops playing around with the cryptocurrency market, and someday China will succumb to cryptocurrenty too, hopefully China quickly accepts the reality in the coin field.

MFahad

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Quote from: virasog on May 18, 2021, 10:51:13 AM

China bans bitcoin again in 2021.

No worries. China will ban bitcoin in 2022 also and this will continue until there is volatility in the market. Manipulators make big money in this market and china is one of the biggest manipulator of bitcoin.

bryant.coleman

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Quote from: marilynmanson21 on June 27, 2021, 02:35:57 AM

how many times has china spread fud, but only how many times will bitcoin go down, and why is it that at this time when bitcoin is bullrun it spreads fud, the party just started and they spread rumors again

At least now some of the users have realized that all of this is not entirely a coincidence. Chinese government is trying to manipulate the cryptocurrency market, similar to the way they manipulate each and every financial institution in their country. However this time they are facing some backlash. Some of the miners have already shifted their mining operations to Kazakhstan and some of the other neighboring nations. If the trend continues, then we will see the overall influence of China in the cryptocurrency market decreasing in next 2-3 years.

Rajamuda

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This is what causes many people to panic until the downtrend that has occurred has become a threat for some people. I just hope things get better soon from whatever happens to the crypto world related to countries or governments and hopefully bitcoin will remain in its popularity so that it can make more many people believe it again.

LimLims

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Quote from: marilynmanson21 on June 27, 2021, 02:35:57 AM

how many times has china spread fud, but only how many times will bitcoin go down, and why is it that at this time when bitcoin is bullrun it spreads fud, the party just started and they spread rumors again

As Bitcoin is decentralised, so it’s cannot be regulated by the government .
Though China bans it, but the Chinese people will still use it.
Yes the only thing affecting right now is that, the ban leads to decrease in prices of the coin.
But this is only a hint of the upcoming PUMP.
Let’s be ready to sell our Bitcoins now at higher prices than ATH.

marilynmanson21

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how many times has china spread fud, but only how many times will bitcoin go down, and why is it that at this time when bitcoin is bullrun it spreads fud, the party just started and they spread rumors again

rosebrand

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This isn't the first time china is placing a ban on crypto, there are only causing a FUD in the crypto space in order to drag priceses very low, and i think there have a plan for doing this, but so bad the FUD there shared affected the market price so bad that we saw this low prices which is still down till now and this is because many people panicked sold. There are actually good news of adoption coming in and with this i think the prices of bitcoin will start laughing upwards

temple

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Quote from: MCobian on June 18, 2021, 08:31:25 PM

Quote from: temple on June 18, 2021, 06:57:25 PM

Quote from: clint25n on June 17, 2021, 01:39:09 PM

China banned bitcoin because they were very afraid of being rivaled by several countries that had started to acquire bitcoin as a legal medium of exchange. Because China was the holder of the largest economy in the world. Therefore, they banned the circulation of coin bits in their country. the bitcoin.they will slowly be eliminated as the country's largest economic ruler

China banned Bitcoin so often, I personally believe that China and the government in specific has much more Bitcoin than many people want to believe. Getting a huge position in Bitcoin was pocket money for them and maybe they want to hide a majority stake by repeatedly behaving as if they were against it. They may even be against it and purely keep it as a hidden reserve against the world just in case. They still will prefer their transparent systems where they can track everyone down.

It is true that China has banned Bitcoin several times, and if this year China plans to ban Bitcoin again, it is not surprising. There are many reasons
why China did this, but the reasons you mentioned are quite reasonable, it is possible that China has a large amount of Bitcoin. Moreover, China is
known to be the country that is most obsessed with money, therefore China has always tried to dominate the world economy. And China seems to
see Bitcoin as an opportunity to get big profits in the future, so China always spreads FUD so that Bitcoin prices fall. Then they can buy Bitcoin at
a low price, anything is possible. My advice is not to be influenced by news related to China banned Bitcoin, it's an old method used by
the Chinese government, to crash the crypto market.

I am certainly not concerned about news from China and at this point also not about whether they hold a lot of Bitcoin. If think if they did we would never find out anyway. However, an interesting thought experiment would be if Bitcoin arrives at $10 trillion and China leaks that they own 70% of it, what would that do to the value of Bitcoin at that point and could it do anything to the value of Bitcoin because they could still manipulate it anyway they want. If by then Bitcoin has been legalized all over the place, what would happen? It is difficult to analyze because saying Bitcoin drops to zero doesn't make sense as the other 30% could now either lose everything they have in Bitcoin or just accept that it is controlled by China anyway.

clint25n

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It's not a new thing if China again prohibits the implementation of bitcoin in 2021, because this has happened in the previous years. And this has absolutely no effect on the bitcoin stock itself. Because they feel desperate for the progress of the crypto emergency. Moreover, China is a as the country with the largest economic progress in the world. So it is only natural for them to be afraid of being rivaled in terms of economy

MCobian

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Quote from: temple on June 18, 2021, 06:57:25 PM

Quote from: clint25n on June 17, 2021, 01:39:09 PM

China banned bitcoin because they were very afraid of being rivaled by several countries that had started to acquire bitcoin as a legal medium of exchange. Because China was the holder of the largest economy in the world. Therefore, they banned the circulation of coin bits in their country. the bitcoin.they will slowly be eliminated as the country's largest economic ruler

China banned Bitcoin so often, I personally believe that China and the government in specific has much more Bitcoin than many people want to believe. Getting a huge position in Bitcoin was pocket money for them and maybe they want to hide a majority stake by repeatedly behaving as if they were against it. They may even be against it and purely keep it as a hidden reserve against the world just in case. They still will prefer their transparent systems where they can track everyone down.

It is true that China has banned Bitcoin several times, and if this year China plans to ban Bitcoin again, it is not surprising. There are many reasons
why China did this, but the reasons you mentioned are quite reasonable, it is possible that China has a large amount of Bitcoin. Moreover, China is
known to be the country that is most obsessed with money, therefore China has always tried to dominate the world economy. And China seems to
see Bitcoin as an opportunity to get big profits in the future, so China always spreads FUD so that Bitcoin prices fall. Then they can buy Bitcoin at
a low price, anything is possible. My advice is not to be influenced by news related to China banned Bitcoin, it's an old method used by
the Chinese government, to crash the crypto market.

perryxi2

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The fact that China banned BTC not only this year but also many years ago, it seems that China really wants to control the price of BTC and dominate it, because most of the amount of BTC is mined in China, so the control price or FUD BTC both start from China.

temple

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Quote from: clint25n on June 17, 2021, 01:39:09 PM

China banned bitcoin because they were very afraid of being rivaled by several countries that had started to acquire bitcoin as a legal medium of exchange. Because China was the holder of the largest economy in the world. Therefore, they banned the circulation of coin bits in their country. the bitcoin.they will slowly be eliminated as the country's largest economic ruler

China banned Bitcoin so often, I personally believe that China and the government in specific has much more Bitcoin than many people want to believe. Getting a huge position in Bitcoin was pocket money for them and maybe they want to hide a majority stake by repeatedly behaving as if they were against it. They may even be against it and purely keep it as a hidden reserve against the world just in case. They still will prefer their transparent systems where they can track everyone down.

clint25n

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China banned bitcoin because they were very afraid of being rivaled by several countries that had started to acquire bitcoin as a legal medium of exchange. Because China was the holder of the largest economy in the world. Therefore, they banned the circulation of coin bits in their country. the bitcoin.they will slowly be eliminated as the country's largest economic ruler

tyz

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Quote from: Naficopa on June 11, 2021, 03:23:29 AM

China is closed economy for the world but china want to do business in every country of the world. China controls the crypto market and its funny that they have banned crypto in their own country. Nonetheless take this as buying opportunity. Remember 2017 DIP? BTC went up to its ATH after that in Dec 2019.

I don't think you can compare this ban with previous ones. I remember when China banned Bitcoin a few years ago, the price plummeted massively. At that time, the ban did not last long, by the way, because the Chinese also realized that they can't do that so easily. Today, the ban has only had a minor impact. That also shows how the factors are shifting. A tweet from Elon Musk about Bitcoin has much more influence nowadays.

Dhoe

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I think China failed to stop the growth of bitcoin, because they have been frustrated with stopping bitcoin, because the evidence is that China always says ban bitcoin every year, and every year strongly opposes bitcoin, but the results are always nil, do you think China's next step is to stop bitcoin??? I think if China has not been able to control bitcoin, I think next month they will also say the same thing..

hajirkhalid2

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China ban in bitcoin, this is bad news from china country because bitcoin is decentralised currency nothing happen with ban and nobody control bitcoin. bitcoin is king of cryptocurrency.

Sithara007

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Quote from: Xinarae* on June 16, 2021, 11:24:49 PM

In some countries there is no law on bitcoin while in many countries bitcoin transactions are legal. But regulators economists and other stakeholders around the world have warned that investing in cryptocurrencies is risky as their prices rise and fall sharply china usually wants everything under their control china noted that crypto transactions are not protected by law meaning money investors are liable for any crypto losses. The crypto exchange service with fiat yuan and foreign currency remains illegal in china.

If we had listened to the economists, the we would have never become rich. I am hearing this from 2013 onward. Various economists have termed Bitcoin as a scam and have issued multiple warnings against investing in them. And still, during this period, the exchange rate increased from $10 to $40,000. Bitcoin has provided more returns than any other asset during the 2013-21 period. Economists will always side with fiat assets and there is no point in listening to their advice, unless they take a more neutral view about Bitcoin.

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