it is all about more regulations and making things more legal regarding these big exchanges that are in fact dealing with large sums of money. money or fiat that needs to always follow the regulation rules and also always needs to be in the hands of licensed businesses not the unlicensed and illegal ones.
the funny thing is that Chinese government has been transparent about it from the start and they even said the OTC trading of bitcoin and other cryptocurrencies is perfectly fine but they can not allow these unlicensed exchanges to go on working.
Topic: China closes exchanges - page 6. (Read 3034 times)
I think this is a tremendous event and makes all the shake. we all know that the largest bitcoin user is china, may chinese users find other countries and start doing bitcoin business in other countries.
No yaar.Now many news are come like,China accepted the bitcoin transaction. So only the price of bitcoin again start to raise.So you can start to inverse your money in bitcoin .You will become millionaire or billionaire one day.Their is no doubt in that.If you want to rich you can choose bitcoin.
I think this is a tremendous event and makes all the shake. we all know that the largest bitcoin user is china, may chinese users find other countries and start doing bitcoin business in other countries.
Yes I agree with you that the Chinese investors of bitcoin maybe find another countries that accepting bitcoin as a legal payment because they don't want to stop their business because they seek an opportunity in bitcoin on which it become more valuable as the years past.
China closes exchanges will effect to market in short time due china hold 23% coin market. But in long time market will rehabilitate for CryptoCurrency is trend of future
I think this is a tremendous event and makes all the shake. we all know that the largest bitcoin user is china, may chinese users find other countries and start doing bitcoin business in other countries.
They close the exchanges every year, perhapes the govement want to create an officail one.
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/
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/
this is very good news
I hope nothing else or anything can affect the bitcoin in the future.
No problem, this will only have a small and temporary impact, the bitcoin community is global, very powerful and independent of a country's users including china. please closes the exchange in china. 
I think the closing companies were working as Legal, and as a result of these prohibitions illegal formations will increase, so illegal companies will come out instead of loyal companies.
Scary thing is that the government might put up its own exchange to profit even more than what the previous exchanges did, or the Chinese traders would move to other exchanges (e.g. Japan or Hong Kong) to stay out of China's strict stance about trading. China is not out of the picture, but their exchanges are.
I think Chinese government will not take such steps. As per me, chinese government will come up with some strict rules and regulations regarding business related to cryptocurrency. To stay away from this heat, china based investors could shift their strategies towards the other countries trading platform.
Hopefull they get through all this drama quickly. They're dragging down the rest of us while they feast on cheap coins from the exchanges they are closing.
Hong Kong-based exchanges operate out of Mainland China's laws and jurisdiction so no, they aren't affected of any sanctions and regulations imposed by PBoC or the government itself.
Scary thing is that the government might put up its own exchange to profit even more than what the previous exchanges did, or the Chinese traders would move to other exchanges (e.g. Japan or Hong Kong) to stay out of China's strict stance about trading. China is not out of the picture, but their exchanges are.
Good riddance then. I just feel sad for the people who have money in those exchanges though. Would their money just disappear into thin air or would they be given a chance to take em out (albeit, at a lower price)?
Is there any possible impact on Hong Kong exchanges, Bitfinex eventually?
Hong Kong-based exchanges operate out of Mainland China's laws and jurisdiction so no, they aren't affected of any sanctions and regulations imposed by PBoC or the government itself.
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/
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/
Scary thing is that the government might put up its own exchange to profit even more than what the previous exchanges did, or the Chinese traders would move to other exchanges (e.g. Japan or Hong Kong) to stay out of China's strict stance about trading. China is not out of the picture, but their exchanges are.
Good riddance then. I just feel sad for the people who have money in those exchanges though. Would their money just disappear into thin air or would they be given a chance to take em out (albeit, at a lower price)?
Yes it's good news for the rest world because there will be no fluctuation in the market anymore and we can just grab huge volume in the rest time. They used to be bad guys in this movie, no offence by the way but that was reality. They did the manipulation to bitcoin many times which we have witnessed in the past. At least there won't be anything like that happening real time sooner or later.
Licensing I think has its advantages and disadvantages, it will off lead to monitoring which might be good people in the business genuinely and not to manipulate. Also, on the other hand , it will emerge new era for bitcoin business and cryptos which might either be good or negative, maybe leading us to what we know of paper money.
Yes it's good news for the rest world because there will be no fluctuation in the market anymore and we can just grab huge volume in the rest time. They used to be bad guys in this movie, no offence by the way but that was reality. They did the manipulation to bitcoin many times which we have witnessed in the past. At least there won't be anything like that happening real time sooner or later.
It needs regulation, America is not the frontrunner here, too much banksters at stake. But look for instance at Singapore, they have done that years ago. Hongkong not so much, but that again is China. Also Germany took a proactive approach and those Swiss mountaineers 
. If China gets it right now, they gain a huge advantage.
. If China gets it right now, they gain a huge advantage. 
they are closing their exchanges everyyear. it is pure speculation by government hand.
It was at 70$ when I bought them first, not the all time low then 
For some people that is not good step forward, for some that is bad, because they need to pay their country part of their earnings. I thought about it for quite sometime, and come to a conclusion that it was inevitable for that to happen, it started in china, but it will spread to other countries too. But what ever happen, bitcoin and altcoins will continue on, they will survive no matter what.
i was surprise of the rapid gain of bitcoins... yesterday.. i just posted that it reaches all time low below USD 3500... but i did not expect bitcoin can climb the market that fast... just being happy after all the scare and doubt... here we are... continue to soar... just happy... feeling happy about it....
we will safe from china affect by this way.
i hope they won't come back again this market. i am bored from their scenerios.
i hope they won't come back again this market. i am bored from their scenerios.
Regarding Hongkong, I don't know enought about their big firewall and whatever systems they have in place. It is part of China nevertheless and why would the Chinese not simply trade in Hongkong if possible. So there is some risk here.
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