And what actually happened NEW? China has banned all this already before hasn't it? This is a good opportunity for me to buy coins of interest to me at a discount. I recommend looking at this news from the same angle as me.
In my opinion, their prohibition is part of their strategy to play the market price. The rest they will take advantage of a bad market to collect lots of valuable coins when the price improves again. From time to time, China continues to ban crypto activities for various reasons. 
Topic: China says all crypto transaction are illegal - page 10. (Read 1492 times)
According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
In general, China has great power to shake crypto, but to maximize that power they have to do many things, the Central Bank of China issued news like this not without reason, they dare to say all crypto transactions are illegal because there is great power behind them, so it's no wonder they issue statements like this, but for the issue of trust this is different from the idea that crypto is illegal issued by China, trust in crypto has been built from the past and this does not involve any country, but the effect of the risk will still be in the future.
Actually, crypto market is so volatile that every news can change the price very significantly. But I don't think that only chinese government is guilty for this fall. To my mind, the market was just overheated, so it is a regular correction. Moreover, there are shocks on other markets as well (stock market). It is caused by difficult economic situation around the world.
Yeah, Since it's more volatile and more risky i think government was right to doing some prevention step but i don't think by making it ilegal was an good choice, Maybe Chinese Government can take an refrence from other country by making the crypto as Trading Commodities and not for the payment tools, Beside that as you said current economic situation was also affecting the market so we can't blame only on one side for this matters.
They can ban everything in their country but it stops there. They cannot do it worldwide since they don't own the globe. 
They keep on pushing about banning Bitcoin and they did it a long time ago. It's just digging the grave to create sympathy and make people be part of their madness.
Looks to me like they'd do anything even if they stoop so low just to bring down the Bitcoin technology and then offer their self-created cryptocurrency. It's too damn obvious and they want control with multi-billion dollar industry.
They keep on pushing about banning Bitcoin and they did it a long time ago. It's just digging the grave to create sympathy and make people be part of their madness.
Looks to me like they'd do anything even if they stoop so low just to bring down the Bitcoin technology and then offer their self-created cryptocurrency. It's too damn obvious and they want control with multi-billion dollar industry.
According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
For China is currently developing its own cryptocurrency, in fact they have banned mining in the country, China has great potential for crypto to develop with the majority of the population controlling strong resources, they are preparing their own cryptocurrency in their country, so that in dependence in the future people will turn to the country, with many considerations so that China must maneuver or speculate to raise a branch to the cryptocurrency they have, and the possibility of what they do, the success rate reaches 80%, considering the many resources they have that can exploited.
I really think it might be something to do with the fact that it has been a long time suspicion by many cryptocurrency followers that China has been planning to create its own cryptocurrency called the Digital Yuan. Now they are making steps to ensure that no citizen will be transacting in cryptocurrencies and that is not really a surprise as the opposition against Bitcoin and cryptocurrency in general in China has been ongoing for years now.
One of the reasons I think that a lot of people don't like China is when it comes to cryptocurrencies because China often manipulates the market. When the market has caused the price of coins to drop, they buy up coins when the price has dropped and they always have a negative influence on cryptocurrencies which can disrupt the country's economy because the crypto transaction system is not controlled. I think the news is included in the list of news that is not clear.
Not first time. There’s always something different about the bans, but this happens all the time and it’s never really dramatic in the larger scheme of things. I expect same this time.
China is always in the news for the wrong news, thought smoking out it's crypto miners with its " carbon footprint reduction" reason was enough but now they seem to have gone in overdrive and trying to fix everyone to stop using crypto as a lasting solution. As far as I know , What these guys are doing is an expensive undertaking which will be a waste of financial resources with a small benefit to be attained , I would rather the redirect these resources to more meaningful stuff than trying to disband the crypto community over there.
Chinese citizens should adopt 0xMonero and DERO to keep their transactions private.
Crypto on the fall because of what? one of them as you mentioned above https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies. What should we do, just relax looking at the news like the one above, just the sound of the firecrackers, don't be afraid, then cut loss and if the mining is closed, the miner just needs to move to another place, where can it be closed and then immediately stop mining.
Actually, crypto market is so volatile that every news can change the price very significantly. But I don't think that only chinese government is guilty for this fall. To my mind, the market was just overheated, so it is a regular correction. Moreover, there are shocks on other markets as well (stock market). It is caused by difficult economic situation around the world.
I believe what you said did have a big impact on the crypto market which is currently falling. but the moment will surely rise again. we will see the market will grow in the future.After mining was banned now China banned crypto transactions. the impact is quite large and indeed can change market trends quite quickly.
The ban applies to all digital tokens, which China said are not legal and cannot be used as a currency in the market. Online crypto services to Chinese residents provided by overseas virtual currency exchanges are also considered illegal financial activity. The ban applies to crypto derivatives trading, too.
Actually, crypto market is so volatile that every news can change the price very significantly. But I don't think that only chinese government is guilty for this fall. To my mind, the market was just overheated, so it is a regular correction. Moreover, there are shocks on other markets as well (stock market). It is caused by difficult economic situation around the world.
I believe what you said did have a big impact on the crypto market which is currently falling. but the moment will surely rise again. we will see the market will grow in the future.After mining was banned now China banned crypto transactions. the impact is quite large and indeed can change market trends quite quickly.
According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
Actually, crypto market is so volatile that every news can change the price very significantly. But I don't think that only chinese government is guilty for this fall. To my mind, the market was just overheated, so it is a regular correction. Moreover, there are shocks on other markets as well (stock market). It is caused by difficult economic situation around the world.
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Another day and another FUD was coming to the crypto. So many time china was spreading FUD to the crypto. it seems like crypto must not touch this country again. Crypto was feeling fine without the adoption was coming from the china. that's why there's massive migration by china miners to the another country. it seems like another FUD will come but bitcoin still able to retrace its position to the above 40k after it gets dumped to the less than 40k in a short time. I think that the community must also start to ignore any news that was coming from the china. even if this is an old news but people are still taking this as a serious problem while evergrande's impact still happening right now.
Actually, this issue is rising up after the problem of mining in that country is solved. Many miners move their mining activities to other countries.
But, China is still China, this country will always give bad news to crypto, this country will never end, from the past to the future
And yes, although we don't like it much, in fact, China can shake this crypto market. China is a big country, this is the competitor of the US.
We know that this country always uses its power seriously and significantly to do whatever they want to do and they must be successful in doing that thing.
Actually, this news is ever raised several months ago and today it is common up again with bigger trouble.
But, China is still China, this country will always give bad news to crypto, this country will never end, from the past to the future
And yes, although we don't like it much, in fact, China can shake this crypto market. China is a big country, this is the competitor of the US.
We know that this country always uses its power seriously and significantly to do whatever they want to do and they must be successful in doing that thing.
Actually, this news is ever raised several months ago and today it is common up again with bigger trouble.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
The Chinese government is doing these gimmicks for a very long time and whenever these sort of news comes out the market usually reacts and still i could not understand why that happens over and over again. There is no data suggestion that the government is manipulating the market and making a huge profit doing that and unless we have these evidence we cannot come to a conclusion that they are manipulating the market to benefit.And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?
What can they actually do to enforce this though? Pretty much nothing.
If that's the reason for the dip today then evecryone should buy up.
They cannot trace pseudoanonymous addresses to actual people with 100% accuracy and they would certainly not expend that much energy in enforcement efforts.
If that's the reason for the dip today then evecryone should buy up.
They cannot trace pseudoanonymous addresses to actual people with 100% accuracy and they would certainly not expend that much energy in enforcement efforts.
My question here is, is it that the Chinese government has the power to shake the market just with a mare statement
Temporarily, yes. If we're talking about the Bitcoin network, then the government can prolly influence the market and cause a plunge in the price, but that can only be sustained for the short period, as the coin will definitely shake it off and appreciate again, even though one doesn't like how governments make most of their decisions, but we can't deny the fact that they have quite a lot of influence, and even though they can't control the network, they can influence it, either positively and negatively.Having said that, it all depends on the coin you're holding, if it's shitcoins/pump and dump, then this sort of news can knock them out completely as there will be a major exodus of investors from their network, but if your portfolio is made up of long term projects like Bitcoin and Ethereum, then you should be rest assured that the Chinese government nor any other government for that matter can only temporarily affect the network with their sanctions.
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