China says all crypto transaction are illegal - page 4.

imstillthebest

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The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link

put an end it to cryptos and make it illegal forever ?
if thats what he mean then it really does have an effect with the price because people will sell their cryptos as there will be no use for it in the future .

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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?

of course they have the power to do so but it doesnt affect other countries . this isnt just a statement but it also done with actions , which is why people act quickly .
its not that people dont have a faith in cryptos but its the order of their government and they should follow it if they dont want to get harmed .

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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?

Honestly, I'm not that surprised about this news because China have been always banning crypto over and over again. IMO, China is intentionally doing this to shake the market and to make it dip.

This marks Beijing's latest racheting up of restrictions on what it sees as a vehicle for capital flight and competition for its digital yuan

https://asia.nikkei.com/Spotlight/Cryptocurrencies/China-declares-all-crypto-transactions-illegal-as-digital-yuan-nears

mamesso

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The Chinese government has shown a firm stance on cryptocurrency, they prohibit crypto transactions in china even the Central Bank of China (PBoC) strictly prohibits cryptocurrency trading because it is considered illegal.
China has issued several statement banning cryptocurrency trading, including mining activities. But in reality, Crypto trading and mining practices are still happening in China.
Although the exchange rate of Bitcoin and several other coins dropped drastically due to the ban on transactions in China, but china cannot stop the development of cryptocurrency in the future.

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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.

They weigh almost nothing and people are already that China is not already involved in crypto nor that they need to create FUDs just to change our mindset. This could still give a small impact on the market since not all are in strong hands, many were still being emotional and they easily got caught with this news. As long as we all don't have faith and trust crypto, this will certainly be happening again and again.

livingfree

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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.

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Quote from: Finestream on September 30, 2021, 06:40:00 PM

Quote from: South Park on September 30, 2021, 06:29:37 PM

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?

It is not a mere statement what is causing the price of all the coins in the market to go down, this means that from now on they are going to take actions against all of the people that somehow are dealing with cryptocurrencies, this is a problem because as we know there are many Chinese citizens that invested in bitcoin and did so precisely to try to escape all of the measures the government was implementing, and now they do not have this opportunity anymore.

It's really a sad fact that even Chinese investors are being deprived of their own rights and even opportunities from their own country. If they will be sanctioned once they are discovered that they are still holding cryptos and transact them despite the bans, i know this will put them in danger. If they can transfer to other countries for their own safety and for them to continue creating opportunities with bitcoin and other potential cryptos, then it will be a good initiative for them to do. Might be a sad story, but definitely not a losing part in the end.

Unfortunately only those that have acquired a significant amount of cryptocurrencies are going to be able to do this, the rest of them which were holding bitcoin with the hope of improving their future are going to have a lot of problems because as we know all Internet activity on China is being monitored and if they try to sell their coins then the government is going to find out and they are going to get in trouble because of it, so it is going to be really difficult for them to even sell their coins, so the only other option that they have is to keep holding their coins and hope that at some point in the future the government of China changes its stance on cryptocurrencies.

meldrio1

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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.

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Quote from: AwoCorporation on October 05, 2021, 07:40:05 AM

The news that China always spreads about bitcoin is just a strategy to get rid of bitcoin enthusiasts because china made their own currency, due to the fact they can't get rid of bitcoin or at least reduce its popularity, news about bitcoin's bad will only be a passing wind that will not have much impact on cryptocurrency especially nowadays more and more people are interested in Crypto, especially Bitcoin.

That's a lot of fun, and may I know what coins are going to be built by china at this time? because if they can successfully build their own coin, then the competition in cryptocurrency will be very fierce to see especially if they want to fight bitcoin which has become king in cryptocurrency.

Of course this is good news for cryptocurrency lovers, especially in China. because we all know that China strictly prohibits the circulation of cryptocurrencies. maybe after knowing that crypto currency is very useful for the economy, then China finally decided to accept and make its own crypto currency, my friend

AwoCorporation

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In general the Chinese have all the resources to run any job they want, but they also cannot rule the world of cryptocurrency by making news about Bitcoin because cryptocurrency is liked by everyone in this world even though not all countries use cryptocurrency.

The news that China always spreads about bitcoin is just a strategy to get rid of bitcoin enthusiasts because china made their own currency, due to the fact they can't get rid of bitcoin or at least reduce its popularity, news about bitcoin's bad will only be a passing wind that will not have much impact on cryptocurrency especially nowadays more and more people are interested in Crypto, especially Bitcoin.

mumang siat

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Quote from: speedforce on October 03, 2021, 05:23:59 PM

Quote from: Luffygroove on October 03, 2021, 05:26:31 AM

Honestly, China isn't that affecting the market now. We can see how China government tried so hard to kill Bitcoin from a long time ago so their own digital currency will have a good place in the country (or even in the world) later, but Bitcoin keeps arise no matter how hard they've tried. Of course, the news got Bitcoin corrected here and there but it's still alive and rocking. IMHO the soonest China is out from the game, the better. They are just nothing but a distraction and it's really irritating.

Government always take a radical move to support their own product, its always happen and its good for them. Now our turn is to show off the Bitcoin power by not affected by China news anymore, also i doubt that China gov already soldout their own Bitcoin. Based on this https://www.kevinrooke.com/bitcoin, China have huge amount of BTC, if they sold many, ofc market would be drop, but i believe its a normal action and would recover if we strong against this China strategy.

I agree with assumptions like this, waste of time thinking about speculations made by china, basically they issue such news just to sell the products/coins they own, so bitcoin keeps being suppressed in various ways, but they don't know that bitcoin has We have experienced problems like that many times, I also believe that this will recover by itself, without having to worry about the current news, we need to find the right way to invest, so that in the future we will be able to produce optimally.

Don't underestimate what China is doing, they have the resources to do anything right now, there's no need to think too much about the news they release, but whatever they do, it will definitely have an effect, even if it's not that big of an impact. But regarding bitcoin, I don't think there will be much impact from the news, because bitcoin is the first coin to be in crytocurrency.

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Quote from: fauzan Ichsan on October 04, 2021, 12:59:01 AM

Quote from: tabas on October 03, 2021, 04:24:09 PM

Quote from: rika0223 on October 03, 2021, 01:10:28 AM

China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically

And as well as tanking the other markets. Think of what they do with US stocks and as well as the crypto market, they're tanking both markets but no matter what they do.
There will still be the time for its recovery and they'll just buying during the flash crash every single time that they tank these markets.

but what they did didn't last long despite the real effect. China has done this a few times, but crypto is still going up in the end. we do not know what they really mean, of course it is to seek profit for them personally. but in fact we can take advantage of this moment to invest

Yes.
It didn't last and look at how much bitcoin is again right now, it just hit $50k and this is a very good sign.

mumang siat

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Quote from: fauzan Ichsan on October 04, 2021, 12:59:01 AM

but what they did didn't last long despite the real effect. China has done this a few times, but crypto is still going up in the end. we do not know what they really mean, of course it is to seek profit for them personally. but in fact we can take advantage of this moment to invest

Don't be too concerned because they also want to play their strategy for this in that way, because no one refuses to profit through cryptocurrency, moreover it can be very free for everyone in the market to do.

Worry is important, but it should not be exaggerated, because it will make us lose from the worry, there are many ways to profit from cryptocurrency, not just playing bounty, but many other ways that we can take advantage of, I agree with you , that concern no need to overdo it, all we need to prepare is a mature strategy to do all that, so that whatever we do is able to provide maximum benefits and not too big of a risk that we will accept.

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Quote from: tabas on October 03, 2021, 04:24:09 PM

Quote from: rika0223 on October 03, 2021, 01:10:28 AM

China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically

And as well as tanking the other markets. Think of what they do with US stocks and as well as the crypto market, they're tanking both markets but no matter what they do.
There will still be the time for its recovery and they'll just buying during the flash crash every single time that they tank these markets.

but what they did didn't last long despite the real effect. China has done this a few times, but crypto is still going up in the end. we do not know what they really mean, of course it is to seek profit for them personally. but in fact we can take advantage of this moment to invest

speedforce

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Quote from: Luffygroove on October 03, 2021, 05:26:31 AM

Honestly, China isn't that affecting the market now. We can see how China government tried so hard to kill Bitcoin from a long time ago so their own digital currency will have a good place in the country (or even in the world) later, but Bitcoin keeps arise no matter how hard they've tried. Of course, the news got Bitcoin corrected here and there but it's still alive and rocking. IMHO the soonest China is out from the game, the better. They are just nothing but a distraction and it's really irritating.

Government always take a radical move to support their own product, its always happen and its good for them. Now our turn is to show off the Bitcoin power by not affected by China news anymore, also i doubt that China gov already soldout their own Bitcoin. Based on this https://www.kevinrooke.com/bitcoin, China have huge amount of BTC, if they sold many, ofc market would be drop, but i believe its a normal action and would recover if we strong against this China strategy.

tabas

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Quote from: rika0223 on October 03, 2021, 01:10:28 AM

China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically

And as well as tanking the other markets. Think of what they do with US stocks and as well as the crypto market, they're tanking both markets but no matter what they do.
There will still be the time for its recovery and they'll just buying during the flash crash every single time that they tank these markets.

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Quote from: rika0223 on October 03, 2021, 01:10:28 AM

China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically

I don't think so they could do that seriously, cryptocurrency has its own independent body and never controlled by a certain powerful country. Even US has no power on that matter, only that China's huge investors was also holders of Bitcoin. That doesn't mean these guys are afraid of that news because it was only a strategy of other anonymous business personality to spread FUD around us in order to crash btc's promising price nowadays.

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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?

This repressive decision is not new, China has since some time and even since 2013 issued such strict decisions against Bitcoin and cryptocurrencies. Fortunately, Bitcoin and altcoins have not been affected much by these decisions. In my opinion, it is difficult to ban Bitcoin in any particular country by any government due to its design because it is not subject to the control of governments and central banks.

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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 understand that they would want to reel in the fun and take control over the nation, after all why allow anyone to be as free as crypto makes them to be and be in a decentralized world when you want to rule with an iron fist. However, I do not understand why they are not interested in it as government.

I mean yeah do not let your people do be free if you are a dictator, but wouldn't it be easy to start a 10 billion dollar bitcoin mining farm? They have the money for it, they have the machines for it, they can even create their own machines, they have the energy source for it, basically they could do 51% attack on bitcoin itself, they are THAT big, so it makes no sense to me that CCP itself would be against it.

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For me, crypto transactions made depends if it's illegal or not. Speaking of legal ways, i think normal transactions through buy and sell or trades are legit and legal if the two sides transact knowingly what they do for a transaction, but if someone's account is hacked, the transactions made could be illegal.

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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?

So far there has been no major influence exerted by China saying all crypto transactions are illegal, if asked if China has the power to shake the crypto market, then we can confirm that China has that power, but not all of them can be influenced by them, even if sources their power has the ability to do that, cryptocurrency is not something that is easy to overthrow, even at the beginning of its emergence, many countries also opposed, but they continue to grow to this day.

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