Topic: China calling for a wider ban on Crypto currency trading ? - page 10. (Read 1598 times)
I thought the news about korea shutting down and banning bitcoin exchanges was fake news but it seems it is under proposal i hope the korean government doesn't consider it. Also china is trying so hard to ban bitcoin when their citizens can easily use tor and virtual private network to access those sites and hide from their government monitoring, no matter what they do they can't fully extinguish bitcoin as long as there is international crypto exchanges.
I dont think they can ban all crypto trading. They cant even fully extinguish crypto trading in their country. Yes, they succesful ban all the exchanges, but how about the other form of crypto trading, like, over the counter and overseas crypto to crypto trading? These kind of trading is still available for some chinese people out there.
There are many valid points mentioned already by others. The nature of China's government is centralized. It is not a democracy. Bitcoin and cryptocurrencies are the opposite (in most cases). Aside from wanting to prevent capital from pouring out of the country, it is also possible that China does not want a weakening fiat currency against a currency that has no centralized authority it can control or influence. Therefore, it uses FUD to influence the cryptocurrency market. I do think that if the country decides to ban cryptos entirely, then the market will also even out with the exit of such a major player.
One thing to consider though, worst-case, is whether China will leverage trade deals with countries to also influence them not to use and adopt cryptocurrency.
One thing to consider though, worst-case, is whether China will leverage trade deals with countries to also influence them not to use and adopt cryptocurrency.
China calling for a wider ban on crypto currency trading will sure make a very big impact But any point of angle till internet available in the world it is not a very big deal to handle It is automatically will changed most of the things
They might see bitcoin as a threat to their economy and because they can not control it, they decided to ban the mining and trading of this virtual currency in their land. They don't want any currency that has no direct contribution to their financial growth. They've been considering measure like imposing strict regulation on any exchanges but that plan did not push through and instead they continue their crackdown.
from the start china has been the protagonist of bitcoin , they ban those mining firm also they prohibit the exchange to function in their country , and now i cant see still why china think that bitcoin is a threat with their economy and somehow it may help their people .
I have heard from a news that China did call for a wider band for the reason that most of their transactions on ICO's are fraudulent. People used it to scams and in return earn quick money. It was said that it was about 90 percent of these transactions. Given this huge percentage, how can a person trust the use of these virtual currencies? So i think it is the reason, but could it be that they (these scammers) are trying not just to make money and they are those who would like to see bitcoins eradicated probably because they felt it is a danger to their business?
China just always do that banning thing for the past years may it be a rumor or an actual news. It has heavily affected the price of bitcoin in the past and due to the new members of the crypto ecosystem, there are still many who panic sell because of this news but then it doesn't affect the price that much compared to months or years ago because China don't hold that much volume in the crypto world anymore. The Korean news though has a big impact but then as what we have observed in the past, price will recover and then reach all time high again.
They might see bitcoin as a threat to their economy and because they can not control it, they decided to ban the mining and trading of this virtual currency in their land. They don't want any currency that has no direct contribution to their financial growth. They've been considering measure like imposing strict regulation on any exchanges but that plan did not push through and instead they continue their crackdown.
Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news
https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
bad news, apparently because of this bitcoin price down. hopefully the future is legalized bitcoin trade in china.
Hope they will come back positively but with lot of restrictions with the intention of defense of their economy.
Crypto can survive without China but China factor is important for the Crypto future.
Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news
https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
bad news, apparently because of this bitcoin price down. hopefully the future is legalized bitcoin trade in china.
China is always banning something.
This comment made me laugh once I saw it.
China always ban something. does it?
They banned Facebook. they got QQ.. My Chinese friend said me.
China is always more defensive as a nation that's why you see such steps from them. they wanna achieve their targets without engaging unnecessary external stuffs I guess.
china make this news every week. same with south Korea.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
china make this news every week, you said this. well, It means market is not running stable more than a week as China make this news every week continuously, I don't know whether they release this type of news weekly base. but I can see that Now they Crypto market has not been stable more than 1 week. if one week went going well which mean next week market gonna crash..
Crypto market is a very unstable market right now.
We need it to be stable more than this to deal in it.
I agree with you. I got in to this knowing the risk. There is saying of Warren Buffet, If you don't know what you are doing you are risking your money, Crypto market's recent instability also occurred to due to this new uninformed traders, They came to the market hoping for quick profit as Bitcoin price were rising..and suddenly they became panic sellers due the fear.
Greedy invited them to be in, Fear asked them to exit from it. that's how it works,
China is always banning something.
china make this news every week. same with south Korea.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
china make this news every week, you said this. well, It means market is not running stable more than a week as China make this news every week continuously, I don't know whether they release this type of news weekly base. but I can see that Now they Crypto market has not been stable more than 1 week. if one week went going well which mean next week market gonna crash..
Crypto market is a very unstable market right now.
We need it to be stable more than this to deal in it.
china make this news every week. same with south Korea.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
china make this news every week, you said this. well, It means market is not running stable more than a week as China make this news every week continuously, I don't know whether they release this type of news weekly base. but I can see that Now they Crypto market has not been stable more than 1 week. if one week went going well which mean next week market gonna crash..
Crypto market is a very unstable market right now.
We need it to be stable more than this to deal in it.
I personally dont like what they do even this. Agree that they are not bitcoin and other way around but somehow they always have the first move, even on this. Also agree that one country cannot be allowed to control the price.
In a decentralized environment we cannot do anything about a country's dominance in one system. That is the reason China is dominating in bitcoin mining and controlling bitcoin price levels. We must have to agree that huge population is the biggest power of China so they are able to dominate in bitcoin ecosystem in various aspects.One is for sure now we should expect to see some bigger movement in price for upcoming period.
Yes that is obvious. Even Chinese government is trying to regulate bitcoin in all possible ways, they cannot stop their people from adopting and investing into bitcoins. So, we can expect bigger moment in bitcoin price levels in coming days.
china make this news every week. same with south Korea.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
big miners play to sell them bitcoin in high price.
wider ban on Crypto can happen as regulation.
China supported good on the growth of cryptocurrency for a longer time period. Once after some inspection by the PBOC on various exchanges the issue arose and the same started generating of regulations on usage of bitcoin. Now this has been getting hard as days pass.
China has been nothing but a problem to crypto, where their announcements were constantly shaking the market up and down due to how big of a deal China was in people's eyes. People were even of believe that if Chinese exchanges were no longer able to function, that this market would fall down so hard, that it likely wouldn't recover anymore. Let me tell you one thing, Bitcoin isn't China, and China isn't Bitcoin. Bitcoin's current growth is more well distributed throughout the world than ever before, and that's something we should be extremely happy with. It means that if one country is about to exit this market, regardless of how big that specific country is, it will not be able to drag down this entire market with it. And honestly speaking, one country shouldn't be able to have such a large impact on the entire market. It makes no sense. Correction is understandable, but that's all it should be.
China truly has no control to drag down the bitcoin itself but the big factor that can china do is that they can bring the price as low as todays price but also the fact that they cannot bring the bitcoin to become negative in the market let us wait bitcoin can recover in the future and maybe those country who turn their back maybe they face bitcoin again.
China supported good on the growth of cryptocurrency for a longer time period. Once after some inspection by the PBOC on various exchanges the issue arose and the same started generating of regulations on usage of bitcoin. Now this has been getting hard as days pass.
China has been nothing but a problem to crypto, where their announcements were constantly shaking the market up and down due to how big of a deal China was in people's eyes. People were even of believe that if Chinese exchanges were no longer able to function, that this market would fall down so hard, that it likely wouldn't recover anymore. Let me tell you one thing, Bitcoin isn't China, and China isn't Bitcoin. Bitcoin's current growth is more well distributed throughout the world than ever before, and that's something we should be extremely happy with. It means that if one country is about to exit this market, regardless of how big that specific country is, it will not be able to drag down this entire market with it. And honestly speaking, one country shouldn't be able to have such a large impact on the entire market. It makes no sense. Correction is understandable, but that's all it should be.
I personally dont like what they do even this. Agree that they are not bitcoin and other way around but somehow they always have the first move, even on this. Also agree that one country cannot be allowed to control the price.
One is for sure now we should expect to see some bigger movement in price for upcoming period.
China supported good on the growth of cryptocurrency for a longer time period. Once after some inspection by the PBOC on various exchanges the issue arose and the same started generating of regulations on usage of bitcoin. Now this has been getting hard as days pass.
China has been nothing but a problem to crypto, where their announcements were constantly shaking the market up and down due to how big of a deal China was in people's eyes. People were even of believe that if Chinese exchanges were no longer able to function, that this market would fall down so hard, that it likely wouldn't recover anymore. Let me tell you one thing, Bitcoin isn't China, and China isn't Bitcoin. Bitcoin's current growth is more well distributed throughout the world than ever before, and that's something we should be extremely happy with. It means that if one country is about to exit this market, regardless of how big that specific country is, it will not be able to drag down this entire market with it. And honestly speaking, one country shouldn't be able to have such a large impact on the entire market. It makes no sense. Correction is understandable, but that's all it should be.
They create huge impact of downfall if they raised some concerns about banning or anything regarding to crypto's. But let's come to think with it China always announce that but Banning never really happens and I really think that this one made just to create a huge commotion and to gain with the dilemma they created. But reality speaks on this since China is been known well as big market on crypto's they can easily manipulate the price and create those shakes since people around the globe will throw off their coins, It's so so hard to defeat the chinese market even if we calm ourselves on not to look after them and believe that the bitcoin is been scattered and all or shall we say huge numbers of supplies are not been handled by them at this time.
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