China will ban BTC exhangers for good - page 3.

gentlemand

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Welt Am Draht

Quote from: nioctiB#1 on January 16, 2018, 10:58:13 AM

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.

Correct, but expect them to go all out on VPNs too. They've been a constant thorn in their side. I'm sure the dedicated will continue to manage it somehow but VPNs may become a lot harder to obtain soon in China. They may be monolithic but they're no dummies.

nicko122

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The Chinese government is only doing worse. People will look for ways to trade in crypto currency.

nioctiB#1

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Quote from: mayax on January 16, 2018, 08:35:18 AM

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. Cheesy

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

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.

Greenkarki

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Quote from: mayax on January 16, 2018, 10:30:24 AM

Quote from: Aura on January 16, 2018, 09:39:24 AM

You expressly write China bans centralized exchanges, so can I conclude that decentralized exchanges are fine? In that case, this ban isn't that bad as it seems. I'm pretty sure that more decentralized exchanges will open, because the Chinese population seems to be one of the biggest participants in the crypto community.

China will ban all the exchange websites even from outside... So, if you live in China, you won't be able to trage with Gemini or any other exchanger.

The miners are staring to close them their "business" too. Let's not forget that China owns aprox 80% from miners.

This is something worst for miners plus traders. I am sure this would still affect the transaction fees? There will be so much traffic right plus transaction will be more delayed!

Values have come down, transaction fees has gone worst, too much delays in transaction!!! Hope the situation should change. Heard news on Russia planning to open up mining with a huge investment?

gentlemand

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Welt Am Draht

Quote from: mayax on January 16, 2018, 10:36:37 AM

good point and let's not forget Bitfinex is cancer too. Their Tether is a plague pandemic , a fraud which will collapse soon.

Yup. It's a great disappointment to me that Bitfinex hasn't been nuked from orbit. It's pretty much the final holdout from Bitcoin's seedy early phase. I only hope it has an orderly death. Its days are numbered whatever happens.

teejaymuna

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Hidden transactions will still go on. I think the government cannot entirely ban BTC because people will still go ahead with trad actions. Inly that the price will be very high.

BrewMaster

legendary

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There is trouble abrewing

awesome news. the sooner the better.

the (blank) country banned bitcoin is starting to become the dumbest news that we read these days. every day we read about a new country. and it is sometimes so severe that the government makes an statement saying we never had any intentions of that sorts!!!
and it needs to stop one way or another. preferably with them finally banning it for real not just talk about it so we can get on with our lives and give them the middle finger they deserve and continue using bitcoin.

Quote from: First77 on January 16, 2018, 10:07:22 AM

Quote from: kalidos on January 16, 2018, 09:30:54 AM

korea , indonoesia , now china , who next want to see bitcoin blooding

India

at some point we are going to run out of country names that we can say "banned bitcoin".

mayax

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Quote from: gentlemand on January 16, 2018, 10:33:23 AM

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.

good point and let's not forget Bitfinex is cancer too. Their Tether is a plague pandemic , a fraud which will collapse soon.

KwizatzHaderach

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Chinese govt always wanted to have control on important things, should be a prelude to an announcement of a national cryptocurrency in the future.

gentlemand

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Welt Am Draht

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.

Quote from: mayax on January 16, 2018, 10:30:24 AM

The miners are staring to close them their "business" too. Let's not forget that China owns aprox 80% from miners.

Sadly the same operators are migrating abroad so we won't be rid of them any time soon.

mayax

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Quote from: Aura on January 16, 2018, 09:39:24 AM

You expressly write China bans centralized exchanges, so can I conclude that decentralized exchanges are fine? In that case, this ban isn't that bad as it seems. I'm pretty sure that more decentralized exchanges will open, because the Chinese population seems to be one of the biggest participants in the crypto community.

China will ban all the exchange websites even from outside... So, if you live in China, you won't be able to trage with Gemini or any other exchanger.

The miners are staring to close them their "business" too. Let's not forget that China owns aprox 80% from miners.

Virman01

sr. member

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for me this will not destroy the bitcoin world / crypto, because crypto market is not just in china only. there are still many other countries that are more advanced and play a role in the world of crypto.

argiyan.tri

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whatever is in the mind of the government, to the extent that they forbid the bitcoin / crypto what they do not want if the people are more modern and rich because of bitcoin / crypto.

First77

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Quote from: kalidos on January 16, 2018, 09:30:54 AM

korea , indonoesia , now china , who next want to see bitcoin blooding

India

tyuner4

full member

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China done this last year and coming back again to ban bitcoin, exchanges and mining? I don’t think there will be much impact since the exchanges, miners and etc can move to another country.

Roboabhishek

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Quote from: mayax on January 16, 2018, 08:35:18 AM

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. Cheesy

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

BTC won't stop growing even if China doesn't trade but it will decrease the speed of growth of this bitcoin since Chinese traders play a huge role of whale in trading.
It will indirectly affect the price of bitcoin.
But I don't think most of the Chinese will stop trading because of this.

Aura

sr. member

Activity: 518

Merit: 268

You expressly write China bans centralized exchanges, so can I conclude that decentralized exchanges are fine? In that case, this ban isn't that bad as it seems. I'm pretty sure that more decentralized exchanges will open, because the Chinese population seems to be one of the biggest participants in the crypto community.

kalidos

newbie

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korea , indonoesia , now china , who next want to see bitcoin blooding

bigmaster23

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WWW.BLOCKCHAIN021.COM

What a beautiful world to have if their's a money that can spend with no history of whom you are, Sad to hear that! waiting here with such a power that can reverse the said news! Pray to mother Bitcoin.

Eterbank

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How many times does china needs to ban bitcoin to realise nobody cares about her.

Topic: China will ban BTC exhangers for good - page 3. (Read 628 times)