China closes exchanges - page 2. | Bitcointalksearch.org

lordquanta

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Quote from: konco_kenthel on October 01, 2017, 02:10:31 AM

I consider the reason for China to ban ico because this country has planned strategy in marketing system later so that government can get big advantage and can improve prosperity of its people in a relatively short period of time.

One of Major reason is millionaires and billionaires from china are moving wealth out of country to same safe places. The fiat currency transfer is limited thus these guys are moving their wealth via cryptocurrecies. Now China govt is not letting go their control so easily thus they have came with restrictions and ban.
It may be possible govt is looking for big benefit.. long shot.
Now largely chinese influence on the bitcoin prices is faded and bitcoin is standing stronger on its own. So we don't have to bother much about the china now.

konco_kenthel

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I consider the reason for China to ban ico because this country has planned strategy in marketing system later so that government can get big advantage and can improve prosperity of its people in a relatively short period of time.

Baehr123456789

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China has also reportedly issued specific instructions as to how the exchanges should close, according to leaked documents reported by Coindesk. China’s crackdown on cryptocurrency also includes bans on Initial Coin Offerings, or ICOs, about which several additional countries have expressed concerns. Bitcoin’s sharp drop comes after rising uncertainty in the Chinese market, with two major Chinese currency exchanges, China BTC and ViaBTC, having announced that they will halt trading by the end of this month.

stellgod

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Quote from: Kotone on September 22, 2017, 05:31:11 AM

Quote from: MadMac on September 16, 2017, 02:31:34 AM

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

As they have already banned bitcoin it might be that this is really bound to happen. The question is why would yhere be closures and banning of bitcoin. Is china closing its doors to the world or a rebellious action towards the united nations. What do you think?

I don’t know what is right and what is wrong. Yesterday I got a report in which China had condemned on the news of banning bitcoin exchanges and now still news are roaming around about its being banned. Still China will never do it because they don’t want to lose the future economics.

Roman Abraham

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Quote from: MadMac on September 16, 2017, 02:31:34 AM

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

One of the factors that led to the decline bitcoin prices was due to the Chinese government that closed bitcoin in their country. I think they have made a mistake and throw away a golden opportunity to shine with bitcoin in the future, because I think if the bitcoin legal in the country, they have a great chance of being a country with more advanced economic developments than ever before.

Ljanesanti

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So it is. I really thought China will release another type of cryptocurrency reason why they close the exchanges in the market. Well if licenses and regulations will be be imposed , lets just hope they will take this scenario as an advantage to them. I mean I hope they will do this for good deed and not for they know that industry is booming and they want to get something big from it.

kidsuzudn

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China has an economy that is still relying on its exports and foreign demand, if the Chinese currency is getting more expensive than foreign demand will decline and hurt Chinese exports. This is why China has put a lot of efforts in keeping its currency ‘export friendly’. In order to keep it ‘export friendly’, China has limited the amount of capital outflow to $50000 per person. This means that is has become increasingly more difficult for Chinese businesses as well as rich individuals to move money abroad as part of for example an investment.

Question123

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Other people said bitcoin in china or exchanges will not close. But if its true its good to use because the price will continue to increase again. But if china close all exchanges site in bitcoin and if the price decrease for sure it will increase or recover again. But as of now the price of bitcoin increasing and it will continue it for sure so we can make a lot of profit in the future.

ALT67890

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Quote from: bettercrypto on September 29, 2017, 07:33:52 PM

Quote from: ALT67890 on September 29, 2017, 06:10:54 PM

Quote from: MadMac on September 16, 2017, 02:31:34 AM

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

I hope it is for a good cause and the intention of China government is genuine and transparent for checking by the Chinese bitcoin community that might be the first that been targeted on this policy. Regulation is necessary when the one implemented it doesn't think about self interest or corruption. We just hope for the best of both parties.

I guess it is. With the exchanges without formal licenses being closed, a new legit one will be opened. This will make the image of Bitcoin clean and may set to the world that Bitcoin can be use and transasct without any trace of illegal activities if the government just act accordingly to get rid of illegal people and transaction in Bitcoins. Though it might have been used to mislead weak hands into selling their coins. Oh well sad for those who sold all their coins though I guess they deserved it.

I hope your guess is right. I don't know much on how central government on china is running especially about monopoly of business. If all be given fair licensed and not be chosen by the government officials for a personal reason. Regulating exchanges at that rate maybe good to all. But if it is the other way around, transaction fees will be much higher than a decentralized concept where compitetion is available.

bettercrypto

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★Bitvest.io★ Play Plinko or Invest!

Quote from: ALT67890 on September 29, 2017, 06:10:54 PM

Quote from: MadMac on September 16, 2017, 02:31:34 AM

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

I hope it is for a good cause and the intention of China government is genuine and transparent for checking by the Chinese bitcoin community that might be the first that been targeted on this policy. Regulation is necessary when the one implemented it doesn't think about self interest or corruption. We just hope for the best of both parties.

I guess it is. With the exchanges without formal licenses being closed, a new legit one will be opened. This will make the image of Bitcoin clean and may set to the world that Bitcoin can be use and transasct without any trace of illegal activities if the government just act accordingly to get rid of illegal people and transaction in Bitcoins. Though it might have been used to mislead weak hands into selling their coins. Oh well sad for those who sold all their coins though I guess they deserved it.

ALT67890

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Quote from: MadMac on September 16, 2017, 02:31:34 AM

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

I hope it is for a good cause and the intention of China government is genuine and transparent for checking by the Chinese bitcoin community that might be the first that been targeted on this policy. Regulation is necessary when the one implemented it doesn't think about self interest or corruption. We just hope for the best of both parties.

error08

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Quote from: MadMac on September 16, 2017, 02:31:34 AM

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

Soon or later, a country should regulate bitcoin an exchanges due to trading volume getting bigger as time goes on.
As long as government doesn't ban bitcoin and people could trade in exchnges, even though it was stated as illegal, not to be used as medium of payment, it doesn't matter. Actually, Chinese people still have 2 biggest exchanges to trade cryptocurrency until the end of October, so the cat still in the bag.

hashtag101

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Quote from: South Park on September 29, 2017, 01:33:41 PM

Quote from: ged00u on September 28, 2017, 01:59:25 PM

Quote from: South Park on September 28, 2017, 01:56:48 PM

Quote from: Kemarit on September 27, 2017, 02:54:27 PM

Quote from: South Park on September 27, 2017, 02:05:05 PM

Quote from: eaLiTy on September 23, 2017, 06:26:38 PM

Quote from: Jose Mourinho on September 22, 2017, 11:45:45 PM

This is the worst disaster for bitcoin, when the price is skyrocketing but china confirm will close the exchanges of course have big impact so the price is hard to reach $ 5000, hope this soon finish.

What do you consider a disaster ,the price drop after an increase of over 300% in the last few months Roll Eyes

expect these sort of movements in the market and especially in the crypto currency market as a single news could move the market in either directions,China closed its doors for exchanges to regulate them and i think it is for the better as we wont see any more manipulation with volumes from their exchanges.

People have very short memory, I remember seeing people complaining that ETH is not moving up in price even if in this year we saw one of the greatest rallies for all altcoins and not only for Ethereum and they were complaining why it has not reached 500 yet, we cannot reach all time highs every day be calm and wait for the opportunity to present itself.

Those complaining are not in it for the long haul. They always complain and not looking for the future. As you mentioned ETH reach its peak around May if my memory serves me right and yet they are not still satisfied with it. Too greedy I guess.

Its a blessing in disguise for bitcoin as well. Now we are seeing a good price movement since the Chinese news came out, I agree that we are in the peak of making another ATH when the announcement came out and the timing was really bad. But I'm still positive that we can reach $5000 very soon or even more in the latter part of the year. So no complains for me.

I suppose that explains it, I’m in bitcoin for the long term, so I do not need all time highs every month, I buy as much bitcoin as I can afford monthly and let it there, I do not even look at the price when I’m buying I do not want to think about waiting to get a better price for my fiat since I know that a few dollar are not going to make the difference in the future.

I am the same person at you. I hold a lot of bitcoin without looking at the price. However, it is still better if we know whether the price is dumping or not so that we can sell bitcoin and rebuy it when it is at the bottem of the chart. That is why trading brings a lot of money to traders and investors. Buy when low and sell when high. Unfortunately, I do not have much time to do what I want and learn trading as well as look at the chart. THerefore, I just keep holding my bitcoin

With the right knowledge I could get better prices but I do not have the time to do that, I’m as busy as I can be, so the best strategy for someone like me is to buy bitcoin whenever I can afford, I’m not going to get the best prices but on average I will be better than all of those that decide to trade and fail.

You will succeed if your prediction is right and you can keep your rule in a long time. Although there are many traders know that, but almost traders can not keep their patience till the end and give up their profits.

South Park

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I am terrible at Fantasy Football!!!