China says all crypto transaction are illegal - page 3.

terrorJR

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Quote from: onecall123 on October 11, 2021, 11:39:52 AM

Quote from: CrossroadBTC on October 11, 2021, 09:12:51 AM

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

It's quite normal right now. However, China underestimated bitcoin holders this time.

Should China ban bitcoin more often? Let's put this in a better perspective. Prices go up and down wherever bitcoin's management wants them to go. Sadly, it did not work this time. Maybe they should build a time machine and go back to 2010 to ban it and buy the dip. It's possible that China might unban BTC when they have accumulated enough. Indeed, China's FUD did nothing additional.

maybe it's true that a time machine is the best way for them right now even though it's an impossibility Cheesy

Don't be surprised when you hear that China is legalizing bitcoin again because I don't think this ban will last long and the case will be almost the same as the previous cases.
but on the other hand this will make the FUD made by China seem like it will become normal because the method is always the same from year to year and the longer it goes on, it doesn't have any impact.

Sled

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Quote from: Ever-young on September 24, 2021, 06:31:09 AM

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?

Many Chinese citizen is already using bitcoins or other crypto coins to make profits and make some sort of payment in the form of digital currencies. But I think China bans all type of crypto transactions because the government itself can't profit much from it and because it is decentralized, they cannot oversee what is exactly happening inside and the Chinese governemnt cannot act as a middle man and have that authority just like any other banks.

Sure China is making a lot of fuss this past few years and they have been making moves arbitrarily and make some countries mad about their system but we can't do anything about it because they even don't care about the international law.

gabbie2010

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Many a time when China makes a pronouncement relating to the ban, clampdown on exchanges the impact on the price of bitcoin is momentarily or shortlived infact it even provide an avenue to buy cryptocurrencies after the news must have died down, ever since I have been in this forum it was always always one negative news or the other from China, the country had already proved that they are not cryptocurrencies friendly nation at all are always

bhadz

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Quote from: Galley on October 11, 2021, 03:03:43 PM

We have information about cryptocurrency bans by China at regular intervals. But what would it somehow strongly affect the crypto market is completely imperceptible. The market has not collapsed and continues to work as before.

It won't collapse. There has been a lot of FUD that's made by China and even they ban crypto for a millionth time, nothing will change.

Quote from: Galley on October 11, 2021, 03:03:43 PM

Nobody pays much attention to this anymore.

Exactly. We've been hearing and reading that every year and what's next for the next year? another ban wave from them?

Galley

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We have information about cryptocurrency bans by China at regular intervals. But what would it somehow strongly affect the crypto market is completely imperceptible. The market has not collapsed and continues to work as before. Nobody pays much attention to this anymore.

jerrison

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This is not the first time china is causing a whole lot of heat in the crypto space as it is one of the major reasons why the price of crypto assets go down towards the first month of the last quarter of every year. But i believe its a strategy to always increase their holdings of crypto and the measures are always very stern leaving no doubt of the fact that they are really serious but at the end, its alwyas the saem old story

Ziskinberg

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Quote from: onecall123 on October 11, 2021, 11:39:52 AM

Quote from: CrossroadBTC on October 11, 2021, 09:12:51 AM

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

It's quite normal right now. However, China underestimated bitcoin holders this time.

Should China ban bitcoin more often? Let's put this in a better perspective. Prices go up and down wherever bitcoin's management wants them to go. Sadly, it did not work this time. Maybe they should build a time machine and go back to 2010 to ban it and buy the dip. It's possible that China might unban BTC when they have accumulated enough. Indeed, China's FUD did nothing additional.

Forget about FUD from China, eventually, it will not anymore affect the market as people already know China's stance regarding cryptocurrency, they ban it so they don't want it. China will remain negative on crypto so we have to accept that and move on, besides, there are still a lot of countries that have a positive outlook on crypto and they are will to legalize and regulate the market.

onecall123

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Quote from: CrossroadBTC on October 11, 2021, 09:12:51 AM

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

It's quite normal right now. However, China underestimated bitcoin holders this time.

Should China ban bitcoin more often? Let's put this in a better perspective. Prices go up and down wherever bitcoin's management wants them to go. Sadly, it did not work this time. Maybe they should build a time machine and go back to 2010 to ban it and buy the dip. It's possible that China might unban BTC when they have accumulated enough. Indeed, China's FUD did nothing additional.

CrossroadBTC

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This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

Pamadar

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Quote from: nimogsm on October 10, 2021, 01:02:30 PM

Quote from: ?? on ??

Quote from: fileo on October 06, 2021, 08:07:35 AM

The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

True, but as we seen the effect not really huge and we started to recover it. A rich man and real crypto believer probably would leave china to avoid the rules there, like what Miners done before after the government forbid mining activity.

Or give access to another person to their assets who is not in the country. The most important thing is that their funds are safe and they can deal with cryptocurrency from anywhere in the world, and I think they will solve the problem in the near future. I'm sure the state wants to control this industry but does not know yet how.

Rich people will find ways to continue. This implementation from the government is not in their hands,

But the fate of their investment inside crypto always rely with them. If they are a believer, they will seek for the better way to make
sure that the government will not hit them with cases against these rules.

Some may flyaway and relocate and others may paused for a while and store everything inside a safe wallet.

whatever plans they've got, for sure, believers will hold and not abandoned this investment.

zaim7413

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Quote from: Coin BTC on October 10, 2021, 03:32:19 PM

Master of plagiat, Yuan rnb crypto.. the reason China is very fundamental, creates some fud, Make the market crash and all in at the lowest price is old trick that is outdated but still very familiar keeps happening over and over again.. We must learning this trick and apply it in crypto trading can make profit...

From which direction will you try to learn the trick? because every strategy from other people will not immediately be fully disclosed to everyone, because they are also afraid that their strategy will be known by others.

masulum

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hmph..

Quote from: terrorJR on October 10, 2021, 02:58:43 PM

That's right, because when something like this happens over and over again, of course, the results will be increasingly ignored because it turns out that what was originally extraordinary becomes a normal thing because it is like normal.
and this sooner or later it will be like this and when in the future there is news about China related to crypto then the impression will be normal, nothing special.
and I will wait and be happy when something like this happens.
they don't know that when fud and decline occur there is always immediate recovery

Now China has blocked everything, there is nothing more they can do to make another FUD, this year everything related to crypto has been blocked. We should have calmed down from their FUD troubles, unless they are making senseless cases just to ruin crypto prices. Moreover, trading, mining and transactions, all crypto components have been banned, so the Chinese FUD has been over. IMO

Coin BTC

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Master of plagiat, Yuan rnb crypto.. the reason China is very fundamental, creates some fud, Make the market crash and all in at the lowest price is old trick that is outdated but still very familiar keeps happening over and over again.. We must learning this trick and apply it in crypto trading can make profit...

Valak

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Quote from: Ever-young on September 24, 2021, 06:31:09 AM

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?

I think the Chinese government does not have the power to ban crypto, maybe they can prevent local transactions, such as crypto exchanges with central banks. It's just a game of rumors so that the price of crypto drops, and they come back to buy crypto in bulk. So that those who panic with the conditions they convey will experience losses.

terrorJR

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Quote from: masulum on October 06, 2021, 08:51:26 AM

Quote from: fileo on October 06, 2021, 08:07:35 AM

Despite of the repeated scenario that China banned crypto currency and announced crypto is illegal, they are one of crypto lovers. In fact more of our Chinese neighbor are using cryptocurrencies and they are investors. Also some of them are so good in development to produce potential crypto. China might shake crypto market but it could not stop cryptocurrencies. The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

I believe one day market will no longer care about what China has to say about crypto. There will be a moment when the market will no longer believe in the statements of the Chinese government, because the market has often experienced FUD from them. Similar to psychology we meet people who often lie, at first we believe them, in the end we don't care what they say. As long as other countries still legalize crypto as an investment asset, even though there is no China on the list, then even China's FUD will have no effect on the market.

That's right, because when something like this happens over and over again, of course, the results will be increasingly ignored because it turns out that what was originally extraordinary becomes a normal thing because it is like normal.
and this sooner or later it will be like this and when in the future there is news about China related to crypto then the impression will be normal, nothing special.
and I will wait and be happy when something like this happens.
they don't know that when fud and decline occur there is always immediate recovery

nimogsm

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Quote from: ?? on ??

Quote from: fileo on October 06, 2021, 08:07:35 AM

The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

True, but as we seen the effect not really huge and we started to recover it. A rich man and real crypto believer probably would leave china to avoid the rules there, like what Miners done before after the government forbid mining activity.

Or give access to another person to their assets who is not in the country. The most important thing is that their funds are safe and they can deal with cryptocurrency from anywhere in the world, and I think they will solve the problem in the near future. I'm sure the state wants to control this industry but does not know yet how.

speedforce

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Quote from: fileo on October 06, 2021, 08:07:35 AM

Despite of the repeated scenario that China banned crypto currency and announced crypto is illegal, they are one of crypto lovers. In fact more of our Chinese neighbor are using cryptocurrencies and they are investors. Also some of them are so good in development to produce potential crypto. China might shake crypto market but it could not stop cryptocurrencies. The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

Agreed, even the crash happen, recovers always happen too. If China probably leave crypto forever (No more fud, its a good thing), or comeback later (Would be good too for crypto, more adoption).

masulum

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hmph..

Quote from: fileo on October 06, 2021, 08:07:35 AM

Despite of the repeated scenario that China banned crypto currency and announced crypto is illegal, they are one of crypto lovers. In fact more of our Chinese neighbor are using cryptocurrencies and they are investors. Also some of them are so good in development to produce potential crypto. China might shake crypto market but it could not stop cryptocurrencies. The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

I believe one day market will no longer care about what China has to say about crypto. There will be a moment when the market will no longer believe in the statements of the Chinese government, because the market has often experienced FUD from them. Similar to psychology we meet people who often lie, at first we believe them, in the end we don't care what they say. As long as other countries still legalize crypto as an investment asset, even though there is no China on the list, then even China's FUD will have no effect on the market.

fileo

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Despite of the repeated scenario that China banned crypto currency and announced crypto is illegal, they are one of crypto lovers. In fact more of our Chinese neighbor are using cryptocurrencies and they are investors. Also some of them are so good in development to produce potential crypto. China might shake crypto market but it could not stop cryptocurrencies. The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

livingfree

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Quote from: ?? on ??

Quote from: livingfree on October 05, 2021, 05:59:25 PM

Quote from: meldrio1 on October 05, 2021, 09:36:16 AM

I'm not surprised this news when it comes from China because they always doing this spreading FUDs. China is a big country and I think they can manipulate the market but I'm hoping that people in the world ignore this news so that people will not panicking and the market will not go dump.

They do.

And that's what they keep on doing in the crypto market. They don't mind what they're doing to the smaller markets and even in taking over in almost everything.

It's what they do all of this time.

And mostly they succeed doing this FUD, be very careful dealing with negative news from China,
most of the time it creates a short time impact then after it will bounce and start building good resistance.

It happened before so it's not far that again it will happen back.
The cycles are just repeating itself. Better to make sure that you are fully aware of China's tactics.

Crypto was been treated this way even before, but only thing know is, they are more strict and they keeping their eyes to strictly implement the rules.

Yes, it's what they're always having as a result. They are successful at most times but that success don't stay for long.

They might accumulate by that time but still they're able to see and knew it that the market will eventually recover and so did it.

Topic: China says all crypto transaction are illegal - page 3. (Read 1492 times)