China will completely ban bitcoin - page 6.

Sharma

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Quote from: mk4 on September 16, 2017, 08:23:41 AM

For the readers out there, this is still UNCONFIRMED. Though I personally think this is really really possible.

I understand that China can easily ban bitcoin exchanges from their firewall, but I don't know how they're gonna totally block p2p network from their "great" firewall.

About the Chinese miners though, I'm pretty sure they're gonna need to spend a good amount of money to oppose the Chinese government in court. Jihan's probably gonna need to move to another country LUL.

Most of his users are drom China and if they cant use btc,what will Jihan do even if he moved to another country.Is there any chance Chinese exchanges and mining firm are behind this to make btc cash more popular?

AgentofCoin

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Quote from: BCMB on September 16, 2017, 04:45:43 PM

Quote from: AgentofCoin on September 16, 2017, 04:39:40 PM

Anyone who thought China would be a friend to Bitcoin was delusional.
This was always anticipated.
This is the beginning of birth pains.
This is when the actual experiment begins.

Agreed, China has crazy monetary policies, and they do NOT want their citizens taking money out of the country. This was inevitable. That being said, this won't stop the Chinese from using Bitcoin for that purpose, it will just go underground.

I agree, it will go underground and that is where the real tests and
creativity will be. Even if their government is able to monitor and control
internet traffic for the purpose of restricting Bitcoin transmission or
whatever, they will not be able to stop loaded OpenDime devices
and other such things.

When this occurs, we may all hear and read about Chinese citizens
returning from abroad with dozens of loaded OneDimes up their anuses.
Then, they will not only smuggle drugs in for entertainment, but bitcoins
for freedom from oppression. The question then becomes, which will
receive the more severe punishment? Drugs or Freedom?

People may not wish to die for drugs, but some shall for Freedom.

digicoinuser

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Haven't done any research on it yet but is "The Great Firewall" the technical name of their solution or a catchy name people use for it? I saw GFW in the translation and assume they meant "Great Firewall".

Shinpako09

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Quote from: ninche on September 16, 2017, 04:41:15 PM

if it is true,bitcoin will die soon

Why? was china the only btc user in this world? definitely not. We're still here and as long as there is a user, btc won't die. If the price will fall, so be it. Let's just buy their btc if they dump it and for sure price will goes up again in the right time.

kwaasteniet

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The Chinese bans everything they consider to be a threat... So most likely it will get banned.

grermezter

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Quote from: chek2fire on September 16, 2017, 08:07:59 AM

According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall.

https://twitter.com/btcdrak/status/908998917995552776

and the translation in english here

https://pastebin.com/6vKp6rh6

I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen.
I will laugh for months if Jihan ask the help of blocstream to keep operating in china

This action is not going to fly at all and from what i heard this issue is totally about licensing the Chinese cryptocurrency exchanges and had nothing to do with banning bitcoins or anything at all. If they want to ban their citizens from using bitcoins, they should do so already, bitcoins is not going to die because of the Chinese and they should get out of it before they cause any problem because we all know the Chinese are mischief makers. Bitcoin will not die.

no0dlepunk

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I have read the translations and I am not really concerned with the Chinese at the moment. What concern's me a lot are those noobs from all over the world who will definitely sell on panic. Can the entire world possibly give China what they want? If they want to isolate themselves to us then do so. I mean if they would like to stop exchanges from operating then just close it without putting it on news.

If only the world would resist, then China couldn't harm the bitcoin. Why don't we all unite and boycott Chinese products from now on? Let them feel their own walls.

illyiller

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Quote from: chek2fire on September 16, 2017, 08:07:59 AM

According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall.

https://twitter.com/btcdrak/status/908998917995552776

and the translation in english here

https://pastebin.com/6vKp6rh6

I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen.
I will laugh for months if Jihan ask the help of blocstream to keep operating in china

Very interesting turn of events. I have to say, this really blindsided me. But let's keep in mind that this report is not confirmed. For now it's just a picture of a printed out piece of paper -- anyone could have put this out there.

Also, there are mixed reactions. Samson Mow (formerly BTCC, now Blockstream) tweeted that he think it's true:

Quote

High probably of being true.

https://twitter.com/Excellion/status/909000668345757697

Many other people are saying that this is photoshopped image from 2013. I can't find any proof yet from comparable images. Clearly the exchanges are shook -- Huobi and Okcoin are now ending all crypto trading (not just CNY pairs). Could they really be trying to ban BTC?

Seriously.... China banning BTC? The meme is coming true!? Roll Eyes

alex_rada

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This is bat country!

Quote from: ninche on September 16, 2017, 04:41:15 PM

if it is true,bitcoin will die soon

I don't know if you are serious but I sincerely hope you are just sarcastic. At most, this is going to be a temporary setback for Bitcoin and a major loss for China, which had a head start in the crypto field. The lost miners from China will gradually be replaced and trust me there are a few players out there whom can't wait to fill the spots left empty by the Chinese miners.

BCMB

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Quote from: AgentofCoin on September 16, 2017, 04:39:40 PM

Anyone who thought China would be a friend to Bitcoin was delusional.

This was always anticipated.
This is the beginning of birth pains.
This is when the actual experiment begins.

Agreed, China has crazy monetary policies, and they do NOT want their citizens taking money out of the country. This was inevitable. That being said, this won't stop the Chinese from using Bitcoin for that purpose, it will just go underground.

hatshepsut93

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It's quite possible, since China already has the technology to block certain sites effectively filtering Internet traffic. This would lead to a harder price drop, as it's much harsher than banning exchanges themselves, but Bitcoin was designed to operate in very hard conditions, including nation-wide bans. Such ban would never be able to cut the whole country from the Bitcoin network, because even one link is enough to keep Chinese users in sync with the rest of the world.

ninche

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if it is true,bitcoin will die soon

gandame

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I think its not confirmed yet, they ban ico project but the bitcoin ban not yet sure.
And china can do it if they want to ban bitcoin to their country.

AgentofCoin

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Quote from: chek2fire on September 16, 2017, 08:07:59 AM

...

Anyone who thought China would be a friend to Bitcoin was delusional.

This was always anticipated.
This is the beginning of birth pains.
This is when the actual experiment begins.

Quote from: chek2fire on September 16, 2017, 08:07:59 AM

I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen.
I will laugh for months if Jihan ask the help of blocstream to keep operating in china

Chinese Miners will just switch to a government approved coin if restricted
by the Great Firewall. It is more probable that Jihan and others knew this
would occur all along, and kept it hidden from their customers and the world,
and thus why they created Bitcoin Cash. In China, nothing is coincidence.

casinolize.com

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may be it can happen.

batang_bitcoin

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I have read the replies from the tweets and some comments said that this news is still not confirmed and don't believe on it.

Quote from: chek2fire on September 16, 2017, 08:07:59 AM

I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen.
I will laugh for months if Jihan ask the help of blocstream to keep operating in china

So true, they mostly focus on the block size debates and really they didn't see this coming. Does anyone knows if Jihan has been commenting on this issue or he's still quiet after all of this?

pseudo_geek

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Blocking the bitcoin protocol seemed to be quite easy for the GFW.
The bitcoin protocol has a magic value while establishing TCP connection: 0xD9B4BEF9.

mk4

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For the readers out there, this is still UNCONFIRMED. Though I personally think this is really really possible.

I understand that China can easily ban bitcoin exchanges from their firewall, but I don't know how they're gonna totally block p2p network from their "great" firewall.

About the Chinese miners though, I'm pretty sure they're gonna need to spend a good amount of money to oppose the Chinese government in court. Jihan's probably gonna need to move to another country LUL.

chek2fire

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According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall.

https://twitter.com/btcdrak/status/908998917995552776

and the translation in english here

https://pastebin.com/6vKp6rh6

I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen.
I will laugh for months if Jihan ask the help of blocstream to keep operating in china

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