China says all crypto transaction are illegal - page 6.

livingfree

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Quote from: Rocky993 on October 01, 2021, 08:55:50 AM

China sees its own advantage all its life, that all the time they try to control the market price when they see that their cryptocurrency market is not under their control. They want to ban cryptocurrencies from their country, bring down the market, then invest their money to revitalize the market and maintain their dominance and control.

It's been common thought that they try to manipulate every market that they are in. And in cryptocurrencies, with the said ban, they're manipulating every single crypto that's being supported by many.

But it's a likely thing that whenever everything is down, they're the ones first to accumulate those cryptos on sale.

Ozero

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Quote from: Rocky993 on October 01, 2021, 08:55:50 AM

China sees its own advantage all its life, that all the time they try to control the market price when they see that their cryptocurrency market is not under their control. They want to ban cryptocurrencies from their country, bring down the market, then invest their money to revitalize the market and maintain their dominance and control.

We are seeing a significant increase in the Chinese authorities' offensive against cryptocurrency ahead of the introduction of their digital yuan. Yes, and this happens in the form of some vague statements, and not in the form of laws that would clearly prohibit the circulation of cryptocurrency in this country. Therefore, I think that after the successful introduction of the digital yuan, the pressure on cryptocurrency in China will decrease significantly. However, this will largely depend on how peacefully the digital yuan and cryptocurrency can coexist. So far, I do not see any particular problems in this. People have already seen the benefits of cryptocurrency and will support and use it regardless of the bans.

Rocky993

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China sees its own advantage all its life, that all the time they try to control the market price when they see that their cryptocurrency market is not under their control. They want to ban cryptocurrencies from their country, bring down the market, then invest their money to revitalize the market and maintain their dominance and control.

carrigan

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Everyone must have known that China strongly rejects Bitcoin or cryptocurrency, but apart from all that, everything that China has thrown at Bitcoin so far has not had much effect on the market. So I thought not to be too fussy about the statement from China because every government in a country must have their own reasons why they accept or conversely reject Bitcoin and consider it illegal. Bitcoin has been getting better and stronger over time and has even become known to many people, so it is difficult to get rid of Bitcoin.

lienfaye

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Quote from: Ever-young on September 24, 2021, 07:31:09 AM

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

We cant deny it has an impact but its not new actually. They already did it before and now just renewed their stance in banning bitcoin and all crypto transactions.

Quote from: Ever-young on September 24, 2021, 07:31:09 AM

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

We really cant please everyone to like bitcoin, there are certain countries who banned it but despite that btc is still existing and strong. So forget about China and focus on yourself, disregard those who cant help you in deciding whats best for your investment.

Finestream

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Quote from: South Park on September 30, 2021, 07:29:37 PM

Quote from: Ever-young on September 24, 2021, 07:31:09 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.

Yaunfitda

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Quote from: South Park on September 30, 2021, 07:29:37 PM

Quote from: Ever-young on September 24, 2021, 07:31:09 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.

There are still opportunities like going underground and other ways to get away with this crypto ban.

However, it will be a big risk for our Chinese investors, so they need to be very careful if they go on this route. Or take their crypto with them, go to US or any other nations that at least the government is friendly. This is their last resort, but for sure many of them are already thinking this way. The thing is, why they have to wait for a total crypto ban before living this oppressive government?

South Park

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Quote from: Ever-young on September 24, 2021, 07:31:09 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.

Botnake

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Quote from: sayam on September 30, 2021, 02:52:07 PM

This is not a new phenomenon. I have heard about this kind of rumor from China's many times so far. It's basically a ploy of theirs, they basically spread such rumors to buy bitcoin at the possible lowest price. So I urge everyone not to listen to such rumors.

I think everyone is used to it already. This should not threaten investors to prevent from buying and holding because if they do, its like they are giving China the chance to buy it at the lowest prices. I get pity with those crypto holders that are stucked in China because it will be hard for them to sell their coins if they want, unless if they will just hold them for a long time so that won't create a problem. One thing i am certain about China, they won't succeed in crypto through banning and making it illegal in all means.

sayam

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This is not a new phenomenon. I have heard about this kind of rumor from China's many times so far. It's basically a ploy of theirs, they basically spread such rumors to buy bitcoin at the possible lowest price. So I urge everyone not to listen to such rumors.

Maestro75

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Quote from: cryptoaddictchie on September 24, 2021, 08:41:36 AM

Honestly, I am tired of this fud of China. We all knew that they are simply manipulating the market by putting up a serious act to ban everything about crypto, then when yhe market plunge to death, then they will buy massive coins and started to renounced something of support to crypto. Its like they wanted so badly to buy at very cheap and slowly pump it and sell again. Damn China, worse pump and dump on crypto.

This allegations are possible as I have suspected that is what China is up to. If not why is the country always hitting bitcoin every now and then. I hope it will loose with this approach of trying to manipulate the market. I do not know why is China not copying other countries supporting bitcoin instead of trying to destroy it.

cimoin2211

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China is doing this from several years and geuss what we don't even care anymore because we know what they're plan is they just want the first place in every site.
Don't believe what they say they just love Bitcoin and that's what is it.

jakdanyel

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kycfree

I was not very happy to get this news. China has been opposing cryptocurrencies a lot for a very long time. And they finally reached their goal by banning them all. But this is not the best way to handle this situation I think. I know that they are against cryptocurrencies because they want to protect their people. They did the same thing when it comes to some social media apps also. But when it comes to cryptocurrencies, regulation is a better way than completely banning. People should be free to use whatever currency they would like.

Natalim

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Quote from: BaeSuzy on September 30, 2021, 03:52:05 AM

Any transactions involving crypto are now deemed to be criminal financial activity. The bank told financial and internet companies to stop allowing crypto trades on their platforms. Foreign exchanges are banned from providing services to Chinese residents too. It very sad, china always doing the bad things to cryptocurrency and ruined our party.

My sympathy is on the residents of China that are finding it more difficult for now to transact in exchanges or otherwise, they may be sanctioned. But as we all know, China has been very impulsive on their decisions so whatever comes out today, they might regret it in the future. And probably China will have to change its laws again that prohibits crypto.

However, as for the residents in China, they might hold their coins for long, or maybe sell them in other countries wherein crypto is legal.

BaeSuzy

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Any transactions involving crypto are now deemed to be criminal financial activity. The bank told financial and internet companies to stop allowing crypto trades on their platforms. Foreign exchanges are banned from providing services to Chinese residents too. It very sad, china always doing the bad things to cryptocurrency and ruined our party.

kaseygriffin

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The total of FUD information related to China in the past 12 years is 17 events. Among them are many types of news from: fake news, media orientation, hacking, new regulations, bans... generalizing the issue, over the past decade, China has created 17 FUD news for the crypto market.
And we all have to acknowledge the fact that China's FUDs over the years can only cause a little correction to the market, but cannot completely "kill" cryptocurrencies. And don't be too alarmed by the news.

Jaered

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China is a major force in every sphere of human endeavor, and crypto is no exception. And another fact, is they have the biggest mining hash in the world of bitcoin. I don't know about other coins. So when there is a ban, obviously the effects would be worldwide. My grouse is this ban is getting irritating. They keep on doing it and this time around there is little effect

Gorosden

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$CYBERCASH METAVERSE

The question is why now? It seems banning and unbanning crypto is another way of screwing crypto value to buy at lower price but honestly it's not going to work anymore, crypto can't be fully ban but it's users can be stopped through centralised access, another reason why this is happening might be because of Central bank digital currency but I'm sure this ban will be lifted in future

Koro-Sensei

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Theres nothing new here. As a communist country, they will do everything to control its people in everything which they cant do with crypto. They will do everything in their power just to have your assets. First they ban the mining industry, now everything that is crypto related from trading to even the tradingview tool. However, chinese people are smart. According to statistics, they own a large amount of BTC which is why their government are afraid to. Chinese people will be more likely trading through p2p at blackmarket.

Kasabus

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Quote from: senyorito123 on September 29, 2021, 04:15:47 PM

Quote from: Ever-young on September 24, 2021, 07:31:09 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 don't think so that these Chinese people losses faith in cryptocurrency, and there's no fact checks for this stories behind us. Only main stream media made all statements like this at worst perceptions, basically FUD started to fool our minds which isn't healthy for our mental capacity. Most traders specially Chinese residents would tend to worry, also with other countries who was also having huge numbers of holders.

China has even hit the second largest position as crypto holders all over the world so this statement simply totally contradicts that Chinese people have no more faith in bitcoin. I think its more on the government that has become so manipulative and they can do whatever things they want just to give way for their own YUAN and so that all the Chinese will make it as a priority over bitcoin and other crypto coins. But the question is will YUAN lasts for long? I mean bitcoin has been here over a decade so more likely, its potentials cannot be surpass by YUAN or any digital curerency.

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