China is coming back to the game, moon?

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

According to the following article, regulations will be released in June:

http://btc-times.com/chinese-bitcoin-exchanges-can-resume-withdrawals-in-june/

It also said the following:

Quote

However, China’s Bitcoin exchanges will not get off scot-free too. BTCC, OKCoin, and Huobi will all obtain an economic penalty. This is not unexpected, as the People’s Bank of China hinted at how a few Bitcoin and Cryptocurrency platforms were not adhering to Anti-money Laundering recommendations properly. It is uncertain what kind of penalty they’ll face ultimately.

I presume that means the exchanges will get fined for breaking various laws. It remains to be seen how much the fine will be, whether they can afford to pay it, and whether they'll try to get the money for the fines from their customers.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: Okurkabinladin on May 17, 2017, 03:56:59 PM

Do we have a timeline for resuming of full bitcoin withdrawal from chinese exchanges? Firm date or just vague "maybe in june"?

I couldnt care less about these trolls saying China doesnt matter. It does, it already did two years ago, when the bear market ended. Bitcoin is retesting ATH right now. Chinese getting onboard would send it straight to stratosphere. And dont mind the fact, that they have been lagging behind by around 15% in USD value. That difference would vanish overnight, making those who timed their longs well, rich overnight.

it is an ongoing process so we can't possibly know a "firm" date on that. and it is a "maybe" at best. I believe near June, they start slowly resuming their full operation, maybe first ask their users to properly register and fully verify first and then open up some channels to slowly let in and out some money.

things will surely be under a lot of observation and restriction from PBoC, because the Chinese exchange have been naughtier than we thought Wink

azguard

legendary

Activity: 1484

Merit: 1001

Crypto-News.net: News from Crypto World

Quote from: panju1 on May 17, 2017, 10:54:40 AM

Quote from: Wind_FURY on May 15, 2017, 11:33:35 PM

Quote from: RoommateAgreement on May 15, 2017, 10:29:36 PM

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.

Yes they are but very annoying one sometimes we must say that. But they are more LTC holders then bitcoin one, also they seek opportunity to earn more, like you mentioned they move from asset to asset in search for this goal. Sure they have big influence on the market price no question about but remember that once they were tricked when price in Europe went higher then on China market then was very bad for them but that only happen once.

ArdiPrabowo

hero member

Activity: 644

Merit: 500

the first after china exchanger nomal withdraw again
bitcoin price with pair yuan, can equal price in USD, after several week bitcoin price in china can highest again, and bitcoin price can incraese very high, maybe incraese to 2000 dollar/bitcoin

Okurkabinladin

hero member

Activity: 574

Merit: 506

Do we have a timeline for resuming of full bitcoin withdrawal from chinese exchanges? Firm date or just vague "maybe in june"?

I couldnt care less about these trolls saying China doesnt matter. It does, it already did two years ago, when the bear market ended. Bitcoin is retesting ATH right now. Chinese getting onboard would send it straight to stratosphere. And dont mind the fact, that they have been lagging behind by around 15% in USD value. That difference would vanish overnight, making those who timed their longs well, rich overnight.

Slark

legendary

Activity: 1862

Merit: 1004

Quote from: panju1 on May 17, 2017, 10:54:40 AM

Quote from: Wind_FURY on May 15, 2017, 11:33:35 PM

Quote from: RoommateAgreement on May 15, 2017, 10:29:36 PM

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.

That is what I noticed too. Chinanese traders are known for their unpredictable nature and are extremely prone to gambling and risk.
Current Price Index Volatility of bitcoin is lowest than ever - Latest 60-Day Estimate is only 3.35%
I am afraid that when China will be fully back online they will try to start pump&dump roller coaster once again.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: panju1 on May 17, 2017, 10:54:40 AM

Quote from: Wind_FURY on May 15, 2017, 11:33:35 PM

Quote from: RoommateAgreement on May 15, 2017, 10:29:36 PM

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.

In a sense, I agree. One of the first country to really invest heavy on bitcoin economy. But Chinese coming back will not be the same when they are the dominant country behind bitcoin. Now we have Japan and other countries to back up the bitcoin ecosystem. They are still good to be around though, but we don't expect them to manipulate the price of bitcoin as they want to be. It wont happen now.

panju1

legendary

Activity: 1246

Merit: 1000

Quote from: Wind_FURY on May 15, 2017, 11:33:35 PM

Quote from: RoommateAgreement on May 15, 2017, 10:29:36 PM

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

They are speculators, moving from one asset class to another. Love them or hate them, you cannot ignore them. They are the most populous country in the world, have one of the largest economies and are important investors.

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: RoommateAgreement on May 15, 2017, 10:29:36 PM

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

But also note that China has always been the first big dumpers of Bitcoin everytime there is a meaningful rise in price. They want to be first to initiate the price drop so again they would be the first to catch the low prices of BTC. I am happier if they were not around.

Yakamoto

legendary

Activity: 1218

Merit: 1007

Quote from: RoommateAgreement on May 15, 2017, 10:29:36 PM

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

I can see there being a rally in the future when they start to come back but if the Chinese start to crack down on it in the same way they have been it might wane some prominent investors from China from returning. We have to wait on China to warm up to the idea of having their people gain access to more free markets, but if they really don't want to there's little that can be done.

Rally or not, China is slowly being replaced by other countries. An almost welcome even in my opinion.

RoommateAgreement

hero member

Activity: 770

Merit: 500

Bazinga!

China has always been a very big market, even without all the fake volume they are still big. with a huge population and a lot of people who are interested in bitcoin and also trading they will always be big.
now that their major exchanges are closed a big part of bitcoin demand is out of it in my opinion and if they come back in June there will surely be a big rally for bitcoin. even if it is only partly coming back with much smaller volume.

Silberman

legendary

Activity: 2716

Merit: 1383

Quote from: talkbitcoin on May 11, 2017, 04:33:34 AM

so it seems like Chinese exchanges fate are finally coming to a conclusion. the AML laws soon to be applied to these exchanges and they say Withdrawals will possibly start in June.

so how do you think this affects the whole market, with all the Chinese big exchanges being out of the game and now a lot of hungry Chinese traders coming back with their price being much lower than USD value (practically free bitcoin at this point).

currently ~10100 CNY = $1,463.25

link: http://www.newsbtc.com/2017/05/10/chinese-bitcoin-exchanges-may-resume-btc-withdrawals-june-new-regulation-introduced/

I don’t know about that, to me it seemed that the Chinese tried to keep the price of bitcoin low, and now they have been out of the game for some time, the price of bitcoin reached new all time highs, so to be honest I don’t want them in the game anymore.

iv4n

legendary

Activity: 3346

Merit: 1191

Quote from: Utrine on May 14, 2017, 01:55:09 AM

Quote from: alyssa85 on May 12, 2017, 03:59:00 AM

I'd say it depends on how strict their AML rules are and whether the old players on those exchanges decide they want to comply. If it's too much for them, the action might stay where it is (in Japan).

I think so. The Chinese market will not gain its former leading in the near future.

This means that we shouldn't make any early conclusions, we can just guess what will be their decision in the end. Chinese are aware what is happening in the world, and that will make affect on their decision for sure. They have a choice to go forward or backward we will see their decision.

elite3000

legendary

Activity: 1073

Merit: 1000

Moon with or without them.

We are just a few millions, so doesn't take much for a big rise in price. Good without them, even better with them

mikenz

full member

Activity: 215

Merit: 102

Quote

they are 40-45 % of the market.

No they're not.

In the brief period when they were operating with fees they were just another player among many others. China was quickly exposed as the mirage it is. Them getting shut down was the best thing that's happened to this market in years. There's absolutely no way it would be where it is if China had been allowed to continue operating as it had.

Yes they are. When they where running unregulated, everybody assumed they are leading the market and the wrong charts showed stg. like 70 -90% market share and everybody here on the board screamed oh China. Then the data during the period when the PBOC regulation finally started showed they have a little less than 50 % market share. I posted that chart somewhere back then. Check you facts. So they are not leaders. but are definitely significant. Its a 1.3 Billion population with much stronger attraction to new technologies than the west. It would be naive to believe they cannot influence the market.

Utrine

newbie

Activity: 53

Merit: 0

Quote from: alyssa85 on May 12, 2017, 03:59:00 AM

I'd say it depends on how strict their AML rules are and whether the old players on those exchanges decide they want to comply. If it's too much for them, the action might stay where it is (in Japan).

I think so. The Chinese market will not gain its former leading in the near future.

eaLiTy

hero member

Activity: 2814

Merit: 911

Have Fun )@@( Stay Safe

I do consider the recent price rise is mainly because majority of the coins were stuck in Chinese exchanges and there was a shortage with the increasing demand and may be that is the reason for the price of bitcoin to raise this much,because in the past the Chinese managed to control the price with their huge volumes and would drive the price down,but this time around they could not do anything and so is the reason we did not see any major correction after the exchanges banned withdrawals.

PokerFace3

hero member

Activity: 700

Merit: 500

Quote from: talkbitcoin on May 11, 2017, 04:33:34 AM

so it seems like Chinese exchanges fate are finally coming to a conclusion. the AML laws soon to be applied to these exchanges and they say Withdrawals will possibly start in June.

so how do you think this affects the whole market, with all the Chinese big exchanges being out of the game and now a lot of hungry Chinese traders coming back with their price being much lower than USD value (practically free bitcoin at this point).

It is highly expected at the end of China's bitcoin exchanges related regulation will lead to more massive adoptions among Chinese people as they will not be having any legal hurdles to get themselves into bitcoin trading. Already Chinese investors are fed up with weak performances of yuvan, they are all looking for moving their investments into different sectors, for them bitcoin may become more preferred one.

I am so confident, China will join the party to take prices to another levels like $5000, because no one could forget their contribution by end of 2016 to take prices around $1000.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: Sundark on May 13, 2017, 10:36:41 AM

I heard that bitcoin trading in china moved from centralized mega exchanges OKCoin, Huobi and BTCC to more p2p trading.

they are still trading on all those exchanges despite not being able to deposit/withdraw. you can see the high volumes which still exist.
but you are correct that they have moved to a more p2p option.

Quote

Sure, it was dictated by the fact that exchanges were not working 100% but now it is hard to tell if all traders will go back.

why won't they come back?
a regulated exchange is 100 times better than an unregulated exchange which nobody is looking into. they can no longer do anything fake, illegal, and they can no longer scam and run away as easy as before.
and more people will trust a regulated place than an unregulated one. just like Forex places.

Quote

Instead moon, we could see a reverse situation and Chinese holders will liquidate their long BTC positions.

again i don't see why would they do that, as OP has also pointed out price of bitcoin is extremely low in CNY.

you are saying "traders have waited this long, held their coins and not sold, waited until all the problems are solved with the exchanges, they come back under regulation laws and safer than before and then they sell". i don't know but that doesn't sound like a logical action to me.

ASHLIUSZ

hero member

Activity: 994

Merit: 502

Quote from: Sundark on May 13, 2017, 10:36:41 AM

I heard that bitcoin trading in china moved from centralized mega exchanges OKCoin, Huobi and BTCC to more p2p trading.
Sure, it was dictated by the fact that exchanges were not working 100% but now it is hard to tell if all traders will go back.
Instead moon, we could see a reverse situation and Chinese holders will liquidate their long BTC positions.

In a short they can't make the big market move, because even now more bitcoin exchanges were not allowed to make transactions as well withdrawal once after the fake volume issue to make market moves and gain good earning. So by the years to come Japan might go far than China due to its recognised usage.

Topic: China is coming back to the game, moon? (Read 2578 times)