Topic: China will ban BTC exhangers for good - page 2. (Read 628 times)

You might get your wish! See

Now all we need is the end of Chinese mining and the most toxic player in Bitcoin history will be gone forever. I will dance on its poorly constructed grave. China has been nothing  but a cancer on every aspect since minute one. I hope it never comes back in any capacity whatsoever.

China’s government is planning to shut down Bitcoin miners in its latest crackdown on the cryptocurrency. The Leading Group of Internet Financial Risks Remediation has requested that local governments make an “orderly exit” from the industry. China produces the most Bitcoin in the world using Bitcoin mining , which involves an energy-intensive process of solving complex math problems to add transactions to the Blockchain, a public ledger. But the crackdown is about more than the high levels of energy required to mine Bitcoin.

China is planning to limit electricity to Bitcoin miners, and government bodies have expressed concern about energy usage. Bitcoin mining is estimated to use up to 4 gigawatts of electricity, equivalent to three nuclear reactors' production levels.

However, this move isn’t just about the electricity. In fact, it is telling that it was China's central bank that met on the issue of Bitcoin mining, underscoring the fact that the issue is not only, or even primarily, an energy issue. It’s about clamping down on perceived risks of the cryptocurrency, which regulators have associated with malicious acts like fraud and money laundering. Authorities have already cracked down on thousands of criminal cases associated with alternative cryptocurrencies, including Onecoin and Ticcoin. These cryptocurrencies were viewed as Ponzi schemes used to raise illicit funds. Later, officials shut down cryptocurrency exchanges and banned fundraising through initial coin offerings (ICOs). On Monday, it was reported that Chinese authorities would block cryptocurrency platforms that permit centralized trading.

Again and again the Chinese Government is acting. China banned its banks from handling transactions involving the Bitcoin virtual currency and this makes the market worse.
To be honest, I was amazed by china, just imagine 'with just one hit' bitcoin prices dropped very sharply, and this can`t be denied because this is based on the fact that happened. However, They weren't only attacking bitcoin but also attacked hundreds of altcoin. This is obviously very sad for me, and now hundreds of altcoin into a sea of red.

Again and again the Chinese Government is acting. China banned its banks from handling transactions involving the Bitcoin virtual currency and this makes the market worse.
To be honest, I was amazed by china, just imagine 'with just one hit' bitcoin prices dropped very sharply, and this can`t be denied because this is based on the fact that happened. However, They weren't only attacking bitcoin but also attacked hundreds of altcoin. This is obviously very sad for me, and now hundreds of altcoin into a sea of red.

A senior Chinese central banker says authorities will ban centralized trading of virtual currencies as well as individuals and businesses that provide related services.

Authorities will also block domestic and foreign websites and close mobile apps that provide centralized virtual currency trading services to Chinese users, and sanction platforms that provide virtual currency payment services.

So, bye-bye BTC in China.  

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

https://www.reuters.com/article/us-china-bitcoin/pboc-official-says-chinas-centralized-virtual-currency-trade-needs-to-end-source-idUSKBN1F50FZ

maybe this is one of the reasons of the drastic decrease of bitcoin's market cap today.

if they're going to ban bitcoin or if they really are decided that much to ban it, then that will be a long process.

This is funny. blocking domestic and foreign cryptocurreny exchange websites will not prevent people from china to buy and sell cryptocurrencies. people can just use services that offers vpn with it they can still acess those exchanges and how about over the counter or otc market how do they stop it if it is a decentralized market? china can never stop cryptocurrency just face it.