China Bitcoin Ban Again? Whenever In Doubt, Look At This List

Gozie51

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Quote from: Oasisman on October 02, 2021, 08:37:17 AM

Well, enough with the Chinese banning of cryptocurrency news, because it seems like the FuD has just died down as the crypto market has been rapidly recovering after it fell down to $41,000 after the China ban news came out.
I don't know If people have learned about all this drama from China where it has happened several times and always had a negative impact to the price.

The China story and experience should be a lesson for investors that it is just a moment of down and within days recovery of market and rally and why this happens is still a mirage for my understanding. A ban that was suppose to harm will further make better what it intends to harm. Investors don't believe China after 2017 on the ban and bitcoin didn't stop, it went higher to unestimated value back then and since that era, bitcoin has got mare patronage.

Oasisman

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Well, enough with the Chinese banning of cryptocurrency news, because it seems like the FuD has just died down as the crypto market has been rapidly recovering after it fell down to $41,000 after the China ban news came out.
I don't know If people have learned about all this drama from China where it has happened several times and always had a negative impact to the price.

lepbagong

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Quote from: Shenzou on September 29, 2021, 02:24:48 PM

Quote from: TedMosby on September 25, 2021, 02:13:51 AM

Zoom out the chart or take a look on this article.

List of websites blocked in mainland China:
https://en.wikipedia.org/wiki/List_of_websites_blocked_in_mainland_China

They only want the chinese version of Bitcoin Grin

This is was obvious and i actually was surprised that it took them a while to ban it, since bitcoin has been very popular among Chinese and the government had no control over it, but i think that with the increase of the use of crypto in the world they have decided to create their own crypto and ban bitcoin and cryptocurrency just to force people to use their own version, just like they did with many internet sites and devices .

It seems that what the Chinese government has done for the umpteenth time is that it has certain goals that all of them can analyze well. because we know that china is an expert in everything that is done to be able to make something similar to the original, we have to admit it.

what do you think that China wants to master crypto, with the aim of being able to make what is made according to its version can be used, is very true and I agree with that. there are always things that we need to pay attention to, every ban in China, then there is an intention behind it with the aim of leading there.

but they have done it several times and it can't be done well, because bitcoin enthusiasts in China themselves don't want to speculate that they have to obey what the government wants. because they know that bitcoin is worldwide and it is not easy to ban it by replacing it according to what they make, of course it is very speculative and will actually make miners there lose.

cotton ball

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Obviously everyone has started to doubt, because China almost every year says ban bitcoin, but the proof is they can't ban bitcoin, I think the media exaggerates the news in China, because we know China has never really banned the use of bitcoin, the government China only prohibits bitcoin from being used as a legal currency in their country, if it is for investment and we make it an asset, I think the Chinese government does not prohibit it at all..

Dhoe

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China always says a ban on bitcoin, almost every month, even news about China prohibiting the use of crypto currency in almost every media, but in fact bitcoin is still active in China, even the Chinese government says it is forbidden to bitcoin, bitcoin fans are growing, so if now maybe people no longer think about anything the Chinese government says..

IamWealth

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This won’t be the first time China is trying to create their own version of an already existing technology. With this, they are building their own centralized crypto Yuan and they’ll have full control on this currency. For now, they are only getting rid of competitors. Decentralized competitors actually.

Nutrient

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Seems to me that China is trying to get rid of decentralized competition while trying to solidly build their centralized crypto Yuan. The news of the ban keeps reoccurring because they know the power of negative news on the market.

Rampagoe004

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Although for now many websites that have been blocked in China but this will not have a big effect on the value of bitcoin at this time because the popularity of the crypto world in the country is already so large that it is difficult to be blocked by the government, according to us see from the regulations implemented by the government today they do want to eradicate the use of crypto nationally and we do not know what plans want to be applied in the use of currencies. digital in the country.

Twinkledoe

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Quote from: sirminesalot on September 29, 2021, 08:20:52 PM

Quote from: Congyang on September 29, 2021, 02:39:50 PM

this happens often and it's no stranger when china implements this kind of ban because they want to do anything with their own version and don't want any products or anything related to the west, including technology.
I don't know whether it will have an impact or not for its citizens, but what is certain is that something like this is indeed the way they are taking to compete and fight technology from the west.
the concept is like instead of using other people's products, they are better off making their own products even though the products they make are not as good as foreign products.
for example, they rely more on the QQ browser or UC browser which incidentally is the original product they made instead of using Google Chrome which is already very global, besides that now they choose to ban bitcoin in order to design the CDBC they manage.

Yeah it's because china has huge population, they think they could running the country by theirself without any cooperation with another countries including the technology and anything related to products that will be used daily. Actually this is very good for making a country big because the commitment and the loyalty of the people to the country is very solid, but the impact to crypto space is quite big since china has one of the biggest crypto possesion.
I think the crypto community in the future must be not relying on china anymore because this country is controlled by their top brass which could changing decision suddenly in a short time.

But even if China is big, I don't think the impact is quite huge because right now we are heading to positive direction despite China's ban. So I believe, the impact of China in the market is not to be worry anymore as seen recently. The market sentiments are evolving and it seems the community is not bothered anymore by what China's approach to crypto market.

sirminesalot

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Quote from: Congyang on September 29, 2021, 02:39:50 PM

this happens often and it's no stranger when china implements this kind of ban because they want to do anything with their own version and don't want any products or anything related to the west, including technology.
I don't know whether it will have an impact or not for its citizens, but what is certain is that something like this is indeed the way they are taking to compete and fight technology from the west.
the concept is like instead of using other people's products, they are better off making their own products even though the products they make are not as good as foreign products.
for example, they rely more on the QQ browser or UC browser which incidentally is the original product they made instead of using Google Chrome which is already very global, besides that now they choose to ban bitcoin in order to design the CDBC they manage.

Yeah it's because china has huge population, they think they could running the country by theirself without any cooperation with another countries including the technology and anything related to products that will be used daily. Actually this is very good for making a country big because the commitment and the loyalty of the people to the country is very solid, but the impact to crypto space is quite big since china has one of the biggest crypto possesion.
I think the crypto community in the future must be not relying on china anymore because this country is controlled by their top brass which could changing decision suddenly in a short time.

Wawa2013

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Quote from: Finestream on September 29, 2021, 06:58:56 PM

Quote from: Shenzou on September 29, 2021, 02:24:48 PM

Quote from: TedMosby on September 25, 2021, 02:13:51 AM

Zoom out the chart or take a look on this article.

List of websites blocked in mainland China:
https://en.wikipedia.org/wiki/List_of_websites_blocked_in_mainland_China

They only want the chinese version of Bitcoin Grin

This is was obvious and i actually was surprised that it took them a while to ban it, since bitcoin has been very popular among Chinese and the government had no control over it, but i think that with the increase of the use of crypto in the world they have decided to create their own crypto and ban bitcoin and cryptocurrency just to force people to use their own version, just like they did with many internet sites and devices .

Well, this is no surprising at all because China always want to be the center of all even in the aspect of digital currencies. So what they did is to impose a force banning on all cryptos that can block the popularity of their own digital currency. They want to give focus to yuan but the citizens are not being cooperative since we all know that there are lot of Chinese people who are bag holders of bitcoin and other potential cryptos. Imposing a ban that will finally stop all crypto related activities but i think bitcoin will not be beaten by this, only those who are holders of it. Maybe going to nearby countries to transact cryptos is the best thing they could do.

The Chinese government prohibits cryptocurrency, it must have something to do with the digital Yuan, so that the Chinese population is more focused
on the digital Yuan. Because we know there are so many crypto users in China, the Chinese government is worried about this situation, so move fast
by banning crypto. I agree with you, Chinese residents will not stop making transactions using crypto. Because there must be various ways for
Chinese residents to still be able to transact using crypto. So what the Chinese government did was not entirely successful, because in the end
even though it was banned, the Chinese population would definitely find a way to still be able to trade crypto.

Finestream

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Quote from: Shenzou on September 29, 2021, 02:24:48 PM

Quote from: TedMosby on September 25, 2021, 02:13:51 AM

Zoom out the chart or take a look on this article.

List of websites blocked in mainland China:
https://en.wikipedia.org/wiki/List_of_websites_blocked_in_mainland_China

They only want the chinese version of Bitcoin Grin

This is was obvious and i actually was surprised that it took them a while to ban it, since bitcoin has been very popular among Chinese and the government had no control over it, but i think that with the increase of the use of crypto in the world they have decided to create their own crypto and ban bitcoin and cryptocurrency just to force people to use their own version, just like they did with many internet sites and devices .

Well, this is no surprising at all because China always want to be the center of all even in the aspect of digital currencies. So what they did is to impose a force banning on all cryptos that can block the popularity of their own digital currency. They want to give focus to yuan but the citizens are not being cooperative since we all know that there are lot of Chinese people who are bag holders of bitcoin and other potential cryptos. Imposing a ban that will finally stop all crypto related activities but i think bitcoin will not be beaten by this, only those who are holders of it. Maybe going to nearby countries to transact cryptos is the best thing they could do.

Congyang

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this happens often and it's no stranger when china implements this kind of ban because they want to do anything with their own version and don't want any products or anything related to the west, including technology.
I don't know whether it will have an impact or not for its citizens, but what is certain is that something like this is indeed the way they are taking to compete and fight technology from the west.
the concept is like instead of using other people's products, they are better off making their own products even though the products they make are not as good as foreign products.
for example, they rely more on the QQ browser or UC browser which incidentally is the original product they made instead of using Google Chrome which is already very global, besides that now they choose to ban bitcoin in order to design the CDBC they manage.

Shenzou

sr. member

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Quote from: TedMosby on September 25, 2021, 02:13:51 AM

Zoom out the chart or take a look on this article.

List of websites blocked in mainland China:
https://en.wikipedia.org/wiki/List_of_websites_blocked_in_mainland_China

They only want the chinese version of Bitcoin Grin

This is was obvious and i actually was surprised that it took them a while to ban it, since bitcoin has been very popular among Chinese and the government had no control over it, but i think that with the increase of the use of crypto in the world they have decided to create their own crypto and ban bitcoin and cryptocurrency just to force people to use their own version, just like they did with many internet sites and devices .

SquirrelJulietGarden

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Quote from: Twinkledoe on September 27, 2021, 10:38:00 AM

But with their recent announcement regarding total banning of crypto transactions, the crypto market survives and actually going green again. So it shows that China can't control this crypto market. No single country can. I hope by now, China can see that crypto market survives even without them. Its citizens will just find a way how to go around this restriction. But I think, crypto market from China will not totally be abandoned or goes to zero.

They changed or expanded from banning Bitcoin mining to Bitcoin transactions. Their bans are applied for crypto mining and crypto transactions too.

If you read more news, you will know China has problems with power, fuel supplies and they are in a power crisis. I think it is reason that China has to react like that. When their source of fuel, power becomes stable again, they will lift bans on Bitcoin and crypto mining.

About the crypto transaction, how do they ban it? They will not succeed. People in China can use Internet and break the Great Fire Wall.

Twinkledoe

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Quote from: tulusikhlas on September 27, 2021, 10:29:20 AM

Quote from: TribalBob on September 27, 2021, 09:57:45 AM

maybe this has become a characteristic of china as a disseminator of negative news about crypto, with a ban on bitcoin transactions in china, and this news is always spread when BTC starts to rise,
I don't know what the real purpose of China is from this news, and in fact its citizens are still conducting transactions

That's because China wants to be in control of everything, with the bad news that China spreads implying China's role in having an influence on crypto prices. Their sentiment is indeed very dangerous and of course it is impossible that behind what China is doing there must be a goal that ultimately makes China a country that insists on controlling the crypto market.

But with their recent announcement regarding total banning of crypto transactions, the crypto market survives and actually going green again. So it shows that China can't control this crypto market. No single country can. I hope by now, China can see that crypto market survives even without them. Its citizens will just find a way how to go around this restriction. But I think, crypto market from China will not totally be abandoned or goes to zero.

tulusikhlas

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Quote from: TribalBob on September 27, 2021, 09:57:45 AM

maybe this has become a characteristic of china as a disseminator of negative news about crypto, with a ban on bitcoin transactions in china, and this news is always spread when BTC starts to rise,
I don't know what the real purpose of China is from this news, and in fact its citizens are still conducting transactions

That's because China wants to be in control of everything, with the bad news that China spreads implying China's role in having an influence on crypto prices. Their sentiment is indeed very dangerous and of course it is impossible that behind what China is doing there must be a goal that ultimately makes China a country that insists on controlling the crypto market.

Altryist

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Quote from: AicecreaME on September 27, 2021, 07:26:44 AM

I think China is doing this again to dump the market so that they can hoard coins as much as they please because the prices are in their low position. They already did this before and they are doing it again. The people are spreading FUD because of their announcement. And like before, FUD is still an effective technique to make few people panic sell, making the prices go dipper. They take advantage of this opportunity to buy coins and store them until the bull market comes. They do not really intend to ban it permanently, but just to just make the market go red. Then they'll do their thing. After this, surely they will lift the 'ban' and release some sort of statement to justify what they did.

For those people who want to invest in crypto, this is one of the best timings because you can enter a low position. If you have the money, do your own research and invest while the prices are still low. I think the prices will still go lower for the following days. It's up to you whether you'll see this as a threat or as an opportunity. Be wise enough to decide.

It seems to me that China has done this so many times that everyone should already know about this manipulation and react to it as adequately as possible, without hasty actions and without panic selling. But every time we see the same thing, the market turns red, many panic and sell. Well, for me this is an additional opportunity to buy at a low price. It's good to follow the news, but in the information age, you need to be able to filter information and draw the right conclusions.

TribalBob

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maybe this has become a characteristic of china as a disseminator of negative news about crypto, with a ban on bitcoin transactions in china, and this news is always spread when BTC starts to rise,
I don't know what the real purpose of China is from this news, and in fact its citizens are still conducting transactions

AicecreaME

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Quote from: SoeNan89 on September 25, 2021, 05:17:35 AM

The Chinese government is increasingly intensifying its crackdown on cryptocurrency trading. China will strictly eradicate the illegal activities of trading Bitcoin and other cryptocurrencies. China will also issue a nationwide ban on cryptocurrency mining.

About 10 Chinese government agencies, including the central bank, banks, securities, foreign currency regulators in their joint statement will impose a ban on crypto trading.

China Strictly suppresses virtual currency speculation, and related financial activities and behavior to protect people's property and maintain economic, financial and social order.

I think China is doing this again to dump the market so that they can hoard coins as much as they please because the prices are in their low position. They already did this before and they are doing it again. The people are spreading FUD because of their announcement. And like before, FUD is still an effective technique to make few people panic sell, making the prices go dipper. They take advantage of this opportunity to buy coins and store them until the bull market comes. They do not really intend to ban it permanently, but just to just make the market go red. Then they'll do their thing. After this, surely they will lift the 'ban' and release some sort of statement to justify what they did.

For those people who want to invest in crypto, this is one of the best timings because you can enter a low position. If you have the money, do your own research and invest while the prices are still low. I think the prices will still go lower for the following days. It's up to you whether you'll see this as a threat or as an opportunity. Be wise enough to decide.

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