China bans Bitcoin again in 2021 - page 9.

snipie

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Quote from: ampu on May 19, 2021, 12:08:22 PM

It was uncensored news. The cryptocurrency ban happened in China many years ago and that caused the world's largest crypto exchanges like Kucoin, Binance, Bibox, Huobi to leave China. We have seen that in the past.
Router misrepresented the news and that sent the market reeling once again despite a correction from reputable people in the crypto space.

I read the same news in another article which mentioned that the ban is already on place since 2019? I no longer recall with the infinite bans already taking place in China, but Chinese institutions (govs) made a statement about the risk of volatility and loss of money about the already banned cryptocurrencies related activities..
The timing of such move is questionable, they were warning about manipulation while they were involved in it deeply.
I believe such move could be related to their national -not yet launched- crypto coin... make bitcoin and altcoins look bad Undecided

bryant.coleman

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Quote from: iTradeChips on May 19, 2021, 08:44:15 AM

Good to know that we share the same views. I mean China has been fighting its so called "battles" against Bitcoin, and it always loses (in my opinion). Chinese are still adopting the cryptocurrency and they could easily cash this out with no problem. Maybe China is starting to rev up their own digital currency so that it can be introduced as a digital currency now and then cryptocurrency later. Then they be able to pull off something unthinkable, Digital Yuan being king of cryptocurrencies.

China want to regulate cryptocurrency and that is all. If their intention was to ban cryptocurrency, then they could have shut down all the mining farms in China (which contribute to more than 80% of the mining hash rate). They are perfectly fine with the miners earning revenue by selling the mined coins. The only issue seems to be capital outflows in the form of cryptocurrency. Capital outflow has been an issue for China since long.. but now cryptocurrency has been used for making the transactions more anonymous.

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It was uncensored news. The cryptocurrency ban happened in China many years ago and that caused the world's largest crypto exchanges like Kucoin, Binance, Bibox, Huobi to leave China. We have seen that in the past.
Router misrepresented the news and that sent the market reeling once again despite a correction from reputable people in the crypto space.

iTradeChips

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Quote from: LittlePrinceCat on May 19, 2021, 01:20:23 AM

Quote from: gribalenfeksiyon on May 18, 2021, 07:38:08 PM

It seems surprising to me that a big country like China banned bitcoin. China has been making such news about bitcoin for a long time. everyone knows this. and because we know this, I find it difficult to take such news seriously. There is a large mass of miners in China, and it can even be considered the largest mass of miners. Therefore, the possibility that bitcoin will be banned in China does not seem right to me. these could be news stories created to create manipulation.

I’m a Chinese. I just hear that China government just ban those financial institutions to use crypto but not individual. This is not a news but an old news. I think those whales use this old news to lower the price and buy more in the dip.

Good to know that we share the same views. I mean China has been fighting its so called "battles" against Bitcoin, and it always loses (in my opinion). Chinese are still adopting the cryptocurrency and they could easily cash this out with no problem. Maybe China is starting to rev up their own digital currency so that it can be introduced as a digital currency now and then cryptocurrency later. Then they be able to pull off something unthinkable, Digital Yuan being king of cryptocurrencies.

TastyChillySauce00

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it seems reuter making kinda misleading title but that's what media usually does right? Roll Eyes

not to mention china banning bitcoin is like de javu, they've done this too much time already that i'm not even curious about the content
of the news. Though I wonder why the market so affected meanwhile back in 2017 the market didn't even stutter at the slightest from this kind of news.

Quote from: ?? on ??

Again? But mining is allowed, right?

it seems so but even if they ban mining activities and causes 35% of mining power to vanish into thin air i'd be among the other people jumping in and start mining btc for real.

inanilujimi

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we are already in 2021 if something like this can affect the price of bitcoin, so when do we learn from experience Huh

This is nothing new in the crypto world, there are influencers who are trying to manipulate the market and some countries are rejecting bitcoin, come on, man, don't let your mental sway because of things like this.

michellee

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Maybe this is one reason why bitcoin plunged to the lower price. I guess China plays with fire by saying that because I do not think they are serious about what they say, especially if they really know what benefits they can get from bitcoin. I do not care about what China says about bitcoin, even if China bans bitcoin (again) because people who are the bitcoin user will decide to use bitcoin or leave bitcoin and know what they want to do with bitcoin. But I am still buying more bitcoin when the price is down to have a chance to sell it at a high price later.

lifeforcepools

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They are preparing the platform for their digital yuan.

Kasabus

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Quote from: Welsh on May 19, 2021, 03:00:49 AM

This saga is kind of like when you finish with your partner, and they simply can't get over you, so they keep breaking up with you, only to realize they can't find better. But, in all seriousness China banning Bitcoin has never really effecting the overall adoption of Bitcoin even in China, let alone the rest of the world. I believe, Bitcoin actually gains more traction within China the more they try, and censor it.

I don't think if this news is a reliable one but if its true, China can't really get rid of bitcoin. Even if they keep on banning bitcoin, but they can't control the continuous widespread of the usage of bitcoin online. The more they ban it, the more people will be curious about how amazing bitcoin is.

If this news is made to pull down the price of bitcoin, i think investors will definitely love it because it will open great opportunity to buy more bitcoin that will be added to their portfolio.

Welsh

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This saga is kind of like when you finish with your partner, and they simply can't get over you, so they keep breaking up with you, only to realize they can't find better. But, in all seriousness China banning Bitcoin has never really effecting the overall adoption of Bitcoin even in China, let alone the rest of the world. I believe, Bitcoin actually gains more traction within China the more they try, and censor it.

maxreish

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That is why bitcoin continuously drop. Now I figured out the reason why and China's announcement one of the greatest influence of this massive dump. But then again, it will not always the bear market to stay lasts, as long as there are good news that awaits then the bull will gonna beat the bear soon.

This isnt new in cryptocurrency, though the dump is so big and others isnt expecting this but those long term holder like me can still wait until it recovers and goes back to $60k again. Who knows? If China will reconsider and lift this ban in the right time or another country will accept bitcoin's financial payment, it will be a boom for bitcoin again.

cryptoaddictchie

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

China bans bitcoin again in 2021.
Another fud in the bull run. Angry

https://twitter.com/Reuters/status/1394665379616673792

This is so obvious, in my opinion it seems China are just using this time or reason to re enter with a lower price. Its always business matter. Of course they knew that bull season and crypto market still on good mood, and they decided to jump in. Why? Very simple create fud and let the price go down, of course they will wanted to buy a cheap price rather than jump in with an expensive value now.

Michael Saylor is honest and announced they bought at 43k level. But China is not playing fair, needed to exploit the market through banning crypto and probably will unban once they already bought back their bags.

Birb

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I lost count on how many times China has tried to ban crypto. It looks like China has also banned crypto exchanges. The good thing is there are Dex exchanges available for the Chinese community!

electronicash

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everyone panics already when they hear that ban again like it's 2017. the ban that Reuters is saying is just for the financial institutions participating in crypto and it's just for the financial institutions and payment bodies. they ensure members are going to involve in crypto.

Quote

The three industry bodies are: the National Internet Finance Association of China, the China Banking Association and the Payment and Clearing Association of China.

this is not new since this is what they also said back 2017. this is close to nothing that should not cause dumps because there are lots of Chinese exchanges already having tons of BTC probably more than what Elon musk has.

LittlePrinceCat

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Quote from: davis196 on May 19, 2021, 01:33:45 AM

Quote from: quocsi on May 18, 2021, 07:46:30 PM

It is so awful! I don't want that to happen. China banned bitcoin, which had a huge impact on the global bitcoin market. Bitcoin price has plummeted without brakes. Many investors are bankrupt, they are trying to sell their bitcoins as soon as possible. I think bitcoin will have an overcast sky in the near term. You should be careful while investing in bitcoin for the time being.

You should read the news,before making mindless low quality posts,just to boost your post count.
China "banned" Bitcoin 4 years ago.They cannot ban Bitcoin twice.This news is just a reminder that Chinese financial institutions cannot get involved into cryptocurrency trading or investments.
We are heading towards a 30K USD Bitcoin price,but that doesn't mean that "many investors are going bankrupt". Smart investors will HODL and wait for the next bull run.

I think this “news” is the rumour from the whales to make people panic and sell the crypto.

davis196

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Quote from: quocsi on May 18, 2021, 07:46:30 PM

It is so awful! I don't want that to happen. China banned bitcoin, which had a huge impact on the global bitcoin market. Bitcoin price has plummeted without brakes. Many investors are bankrupt, they are trying to sell their bitcoins as soon as possible. I think bitcoin will have an overcast sky in the near term. You should be careful while investing in bitcoin for the time being.

You should read the news,before making mindless low quality posts,just to boost your post count.
China "banned" Bitcoin 4 years ago.They cannot ban Bitcoin twice.This news is just a reminder that Chinese financial institutions cannot get involved into cryptocurrency trading or investments.
We are heading towards a 30K USD Bitcoin price,but that doesn't mean that "many investors are going bankrupt". Smart investors will HODL and wait for the next bull run.

Lorence.xD

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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.

liao chandra

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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.

LittlePrinceCat

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Quote from: gribalenfeksiyon on May 18, 2021, 07:38:08 PM

It seems surprising to me that a big country like China banned bitcoin. China has been making such news about bitcoin for a long time. everyone knows this. and because we know this, I find it difficult to take such news seriously. There is a large mass of miners in China, and it can even be considered the largest mass of miners. Therefore, the possibility that bitcoin will be banned in China does not seem right to me. these could be news stories created to create manipulation.

I’m a Chinese. I just hear that China government just ban those financial institutions to use crypto but not individual. This is not a news but an old news. I think those whales use this old news to lower the price and buy more in the dip.

LittlePrinceCat

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Quote from: avikz on May 18, 2021, 01:22:37 PM

Isn't cryptocurrency already banned in China? I believe they had firstly banned ICOs and then they had issued banking ban on crypto businesses. I may be wrong as well.

I don't know if it is going to impact crypto market in any way, but it is going to impact the miners in China. They will probably find it difficult to convert their mined bitcoin into Cash. Also the administration is very strict, that it is difficult to execute p2p trades as well.

But if it makes the chinese miners to leave the market, that might be great for bitcoin itself. Too much dependency on China may bring ruin on the bitcoin network.

I think those whales use this old news to lower the price.

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