China will completely ban bitcoin | Bitcointalksearch.org

Brigalabdis

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Quote from: Ryan Dugan on November 11, 2017, 06:31:22 PM

Who cares about China let us just leave them alone to be as they wish. China is a weird country with a really weird government and laws.
If they want to be stupid and cut themselves off let them. They already ban so much social media so I am not surprised they want to ban btc too.

they are rich country too so they didnt need btc and they are the one that are selfish. I dont agree that terms of china because they know that they have a power so why they do whatever they want?

Ryan Dugan

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Who cares about China let us just leave them alone to be as they wish. China is a weird country with a really weird government and laws.
If they want to be stupid and cut themselves off let them. They already ban so much social media so I am not surprised they want to ban btc too.

Mary ann Labor

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I don't think china can ban the Bitcoin, it has closed down exchanges, they may well open again but with more regulation as the ICOs are getting out of control with scams.

Hallmader

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China does not have much options really. Will they ban Bitcoin completely and isolate itself from the Cryptoworld like a hermit? That sound pretty stupid of them to do that. Well, they could actually do that and invent a cryptocurrency that is solely for china and the chinese people. Just the same, however, they will look an isolated hermit. And then there are those big names in china who are also big names in crypto. They will surely leave their country if that happens.

4hajs

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Translation Service: English -> Polish

I heard that the China will come back in the next year. I hope that is true, we need their capital and their money, they have large market and economy. I already miss them...

nydiacaskey01

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They might have banned Bitcoin in China as they announced a few months ago but I dont think every citizen followed and sold their Bitcoin or never deal with Bitcoin anymore. I read in cointelegraph that there is this exchange site that accepts CNY and if that is the case trading is still ongoing. Law makers in China will soon come to their senses and lift the ban.

King Sastro

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The bitcoin deals in china are the largest in the world, and certainly the Chinese government knows about this, the Chinese government is afraid someday bitcoin will defeat Yuan which is the official government currency of china.

tn211

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Quote from: xBitHodler on November 09, 2017, 05:14:57 PM

It looks like China is thinking about unbanning Bitcoin. That's hilarious. There are plenty of reason why they have tried to ban Bitcoin.
- they thought it was a threat to their current financial system,
- they wanted to earn money by selling BTC before they announced they were going to ban Bitcoin.
I'm not surprised why they want to change their decision. China wants to be number 1, Bitcoin might help with that.

China can do whatever they want, bitcoin is not much affected by it anymore. The have played too long the same boring game. And now we have japan and korea, which are more positive about bitcoin and crypto. So yeah soo long china!. We see you when you want to have decided what to do.

xBitHodler

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It looks like China is thinking about unbanning Bitcoin. That's hilarious. There are plenty of reason why they have tried to ban Bitcoin.
- they thought it was a threat to their current financial system,
- they wanted to earn money by selling BTC before they announced they were going to ban Bitcoin.
I'm not surprised why they want to change their decision. China wants to be number 1, Bitcoin might help with that.

Lubang Bawah

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This is what many countries will do and I'm sure other countries soon follow china for total banned, but I do not think this will bring any impact because the key to bitcoin performance is from internal factors ie users, not external.

scottykarate

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The Chinese government is a master at manipulating trade and money. Never assume that they're speaking the truth and don't have some angle that will benefit them. Like has already been said in this thread, news manipulation is a powerful tool. Whatever it is that they're saying is some kind of manipulation and likely just for their benefit in some way and isn't what they will actually do.

coinoberg

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Get your share of the future

Quote from: GaPR on November 09, 2017, 01:25:54 PM

Quote from: teejayrichard2 on November 09, 2017, 01:11:23 PM

This is mere speculation. China won't ban bitcoin.

In fact, news and rumors make money. I will not believe it until I see it in practice.

me too! I think there were maybe thousands of similar speculation.

East7547

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I can’t see a total ban, they will legislate it I’m sure tho

Nilda

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Good! It's their loss. Although this is mere speculations, I doubt if the Chinese leadership would allow their country to be left behind. Any forward thinking country would want to be part of this game changer.

GaPR

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coinBusiness / Gapur Ozdoev

Quote from: teejayrichard2 on November 09, 2017, 01:11:23 PM

This is mere speculation. China won't ban bitcoin.

In fact, news and rumors make money. I will not believe it until I see it in practice.

teejayrichard2

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This is mere speculation. China won't ban bitcoin.

aeternus

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Quote from: Granxis on September 17, 2017, 09:30:33 PM

Quote from: jerowacik on September 17, 2017, 09:20:54 PM

Quote from: Granxis on September 17, 2017, 09:16:38 PM

I do not think this ban will last for a long time, because they will see that the front of the illegal people has opened, and if they are going to ban again, Japan is moving on this very much.

may be re-adopted by china a few months ahead. they just want to reconstruct the circulation of bitocin. thus rebuilding bitcoin from scratch is one way they do. it's going to be painful in the beginning, but I think we'll get an incredible increase in bitcoin development in the future.

I think what you say is absolutely right also China technically can not ban the Bitcoin network, it is technically not possible, but they can ban mining, this ban is not very important.

If China bans bitcoin mining that would be a really hard blow for bitcoin, this is why I think it is imperative that the Chinese miners look beyond profits and establish themselves in countries where this kind of repression is less likely however since they only care about profits that is going to be hard to implement.

fullhdpixel

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Quote from: kpcian on September 17, 2017, 04:21:28 AM

No, it will not happen in the future. though Bitcoin is being accepted in some developed countries so that China has taken it seriously in terms of regulating. when they have an intention to regulate so that they will allow Bitcoin as a legal currency. The Chinese government is surely known that a lot of Chinese people is involved in this platform. so they should not ban this platform.

Yes I agree to you 100 percent. In this day if we observe China holds almost all the sectors of productions in the world and they generate revenue from the entire world. The issue is not about the banning of investment and trading in bitcoin, the issue is about the regulation.

The legalization and regularization of bitcoin in China will be better for them because the payments will be easy while sending the items toother part of the world.

nareshrohra

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No, they won't. Note that mining is not yet banned in China and most likely won't be. they are more worried about the outflow of fiat in ICO & exchanges. Recently, Da Hongfei, founder of NEO gave an interview and clarified that mining bans are rumours and there's no official statement yet. He also mentioned that he was consulted on ICO ban and it was more for money flows regulation.

https://www.cryptocoinsnews.com/neo-founder-da-hongfei-advised-china-ico-ban-govt-collaboration-possible/

Kyraishi

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As the article says, this is unverified.

Anyone could have printed off that piece of paper and put it up on twitter in order to create some commotion and a panic sell so that their short positions can make a profit for whoever is behind this. I'm not saying that in this case, this is true, but it's a real possibilty here.

Even if it is true, people will find loopholes around it. There is no perfect way to block the bitcoin network. Even if China does somehow completely ban bitcoin which is very unlikely, then bitcoin companies and major bitcoiners will just move to another country and go on as usual.

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