Topic: China Bitcoin Ban false alarm (Read 382 times)

If it is a false alarm, it has created room for FUD, and which will end up hitting the market price of bitcoin. It being real will still affect the price of bitcoin. They may in anyway term the use of bitcoin to be to be illegal and somewhat, they know what they are scared of. As the world is moving and the development of technology is fast growing, then the use of bitcoin will be for real, and the upcoming generation will have the full use of bitcoin and crypto currencies at large.
For now, the news of this could be true or false, only those that are citizens and residents of China can give a real say on the statement of ban within the country. If it is really banned, they will still be using this site at least, cause the internet won't be shutdown, except they will only be shutout from the internet.

The only thing it will do is to affect the price for a period of time, which always happens as the price is always on a rollercoaster ride, and everyone by now is used to this without fear again.

Let them ban bitcoin in their region , but let the world accept it , while China is doing such closure there are many countries opening their door to open arms accept crypto specially bitcoin.
They banned bitcoin but we have EL salvador adopting this, so what comes next? those anti China countries will offer something .
this was given already above that the news is legit and happening now.

So china bans bitcoin finally but the world is accepting this.

Whether the news is true or not, why would you let the FUD get into you? We know better. They have been doing this for the past years already and they are doing it again. This kind of event triggers the bearish market for bitcoin but that doesn't necessarily mean it would just stay in that low position and would never bounce back. In contrast, this kind of event just makes the price value and potential of bitcoin even stronger. Every time China fuels FUD, bitcoin always recovers stronger than the trend it was seen before on the market. Let's just use this opportunity to buy the dip and not worry too much most especially if we are here for the long-term aspect.

Currently the price of crypto is in decline and this is very influential from the news of the bitcoin ban in China, but as you said in the previous year something like this has also happened but it has not been bad for the crypto world and this year the value of crypto can reach the highest value even though it is currently back down to 50%, So we as crypto users do not easily believe the news spread at this time and we should also be able to take advantage of the situation when the price of coins drops to invest.

now the news circulating should not be directly believed, because every news is not certain to be accurate, many media want to seek fame, so in my personal opinion, if the Chinese problem prohibits all types of crypto in their country, I am very sure they will suffer a lot of losses, so I still can't believe that China banned all types of crypto in their country..

What I am curious here is that if China can stick to their total banning of crypto? If a lot of countries are already pro-crypto in the next coming years, are they going to keep their word about this banning thing? Or are they going to change mind if they see some favorable things that can happen to their country if they accept crypto again in their system? High likely that they will develop their own digital currency to stay relevant. But I believe in the near future, they will change their stance again towards the crypto market.

Better make a full research first before making a thread like this.
China really ban crypto currency in their country and its not a false alarm I already read it in the facebook page of Cointelegraph. I dont know if it will really affect the market because base on my research China is one of the big holder of bitcoin.

when time comes that people inside crypto realized that this is currency and not an  asset, then those are the days that news like this will never take effect again.
those are the days that country like china is just a piece of shit to be hatred in crypto.
this may take time but for sure this will come in our doorstep .

In fact, whatever China does, it can be ascertained that there is content and there is an implied to something that we may find difficult to express, but we know that China always makes innovations that can always resemble the original. did none of that charge happen in china with the ban?

This prohibition has happened several times but eventually just disappeared because bitcoin is difficult to intervene and is able to move on its own without anyone being able to control it. especially with news that is always repeated.

bitcoin will be able to move up in time and nothing will be able to stop it. because bitcoin is used to this kind of news and is able to get through it.

China has expanded its crackdown on cryptocurrencies by declaring that all activities related to digital coins are “illegal”. The People’s Bank of China and other government agencies targeted overseas cryptocurrency exchanges specifically on Friday, declaring that it was illegal for them to provide online services to residents in China. The move was an apparent bid to close a loophole that remained after the PBoC, China’s central bank, in May banned domestic financial institutions from providing cryptocurrency transaction services. In the months since, Chinese traders have continued to invest in cryptocurrency using foreign platforms. The price of bitcoin fell more than 8 per cent immediately after the announcement, dropping to just over $41,000. The PBoC announced the crackdown on Friday in a notice issued jointly with nine other government bodies including the Cyberspace Administration and the Supreme People’s Court, China’s top court. The notice said that “there are legal risks for individuals and organisations participating in virtual currency and trading activities”. It added that all Chinese nationals working for overseas cryptocurrency exchanges would be “investigated according to the law”, as would organisations providing marketing, payment and technical support to them.

it is not a false alarm mate it is reality and this is the reason why market is hurting once again now. the Price is now little by little recovering but it is truthful that this banning always take place in the market.
maybe Manipulators took advantage? or just panicking is affecting the whole market?

because now it is not only bitcoin but all of the cryptos are in Red zone .

it may sound FUD but it isnt , this is a correct news and crypto is affecting .


But i doubt that this make the whole amrket suffer again for another months like what happened in 2017 , now the investors shows strong hold and also we have legit investors now that made the market stays in its level .

I don’t normally pay close attention to fuds and most time I just disregard such news; I think this is a plot by the china government to pave the way for the digital yaun as it’s about to be launched. But banning cryptocurrency in their jurisdiction may render their own CBDC ineffective, as there will not be room for a competitive market.

Well, it remains to be seen whether this news will impact Bitcoin and cryptocurrency as a whole in the next few weeks. We must and should not be panicking yet as we saw the resilience that Bitcoin is showing for the past days since the news was reported. I think what is best right now is for us to always check this forum and also your apps for many latest Bitcoin news and then hold a little longer because many believe that this is just an attempt to make the price lower.

They will see that they can not do that for their people because once their people do not like it, they will reject the regulations. Once that happens, we might see a war inside their country and if that happens (again), I can not imagine how many people would be killed.

They need to realize that the world is changing, so they need to adjust and follow the technology and not prohibit their people from using something that can change their lives or country. I am not sure if that ban will really happen for a long time but let see what will happen later.

they have also banned CMC, COINGECKO, and others. China is serious about this ban. and they do not create a gap for their citizens to play a role in the crypto industry.

I thought I was the only one that thought about this. The Chinese people are good at economics, I believe they are using their economical and numerical power to manipulate the market. No matter how any country bans Bitcoin and cryptocurrencies, they are still connected to the blockchain and trying to develop their own national e-currency.
No matter the present predicament of Bitcoin, it can become the chief corner stone in the future, and the government knows about this.

China's expansion will not stop just by banning crypto, but they will do other things to conquer all countries.
China doesn't like crypto and they want to bring down the market in their own way. the presence of bitcoin can destroy the market competition they have been running for so long. we know that bitcoin is not going to stop because of the news and we will soon see bitcoin rise.

I agree with that Bitcoin has really gain ground and most ban news around no longer has much effect on it market price in recent time. Can you please provide any link of where someone make a post here that he or she can still buy and sell Bitcoin in China freely after the government ban.

There is nothing false about the fact that China has banned cryptocurrency, it is widely reported by major news organizations who confirm with the Chinese government themselves. They are trying to stop people using Bitcoin as a method for officials and wealthy citizens to abandon China - either because they see the house of cards starting to collapse or they fear repression by higher-ups. When things start to go wrong in this country, sh#t flows down hill and anyone who is unable to escape might be scapegoated. You have seemingly skipped over the fact that Bitcoin dropped about 10% before recovering 1%, that hardly seems like a big win in my book.

Since I started using cryptocurrencies there are so many bans, clampdown on Bitcoin exchanges mostly from China the bottom line is that Bitcoin still survive and thrives,  consequences of such fundamentals often result to a price drop or dump, however the aftermath of such announcement is that price recovery is very sure though it might take some time, the Europeans and American had already embraced and had been adopting cryptocurrencies thus it has come to stay no ban will have any impact on it again.