China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges

Bitcoin Guy

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Quote from: darklus123 on October 16, 2017, 12:59:19 AM

Agree. In the first place they can't afford to let the opportunity to just pass by. I bet they are losing millions on their finance after banning the huge exchanges for awhile

They are missing all the potential corporation taxes that they can collect from these exchanges.

pat4cryptoreal

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All what china is looking at is to have a portion in what so ever profit their citizens are making from bitcoin business and also reduce the rate of scammers that are running ICO.

audrey12

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Well I guess China realize now that crypto currency is now the new money of the people and whether they like it or not the adaptation will likely to happen soon. I think in few more years bitcoin will become well known global currency that can be used without the need of converting them into fiat.

poplolnman

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Quote from: sublime5447 on October 12, 2017, 11:47:59 AM

Bitcoin can be shaken by a country just like what the Chinese government did yesterday but Bitcoin proved to have market power and showed a very good recovery because it's back to $ 4500, so it's not impossible for them to just want to test Bitcoin. they are worried about their citizens because many of them are involved in this field and Bitcoin can also boost their citizens' economy.

yeah it's just doesn't makes any sense when a superpower country like china who have big influence in cryptocurrency world leaving , it has a lot of benefit for them to keep developing cryptocurrency especially when the miner mostly come from there where the electricity cost far so low compared to any other country. they would do anything to survive . and here we go , they are rumoured to be back and not surprising actually.

notyours

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This is my thoughts. Because I know many do not agree that this will be implemented. It may be the only person who wants to knock out the bitcoins and try to sell its holders. They can buy cheap bitcoins and of course the price increases when the so-called whales enter. And now there will be panic buying that will result in price increases.

darklus123

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Quote from: Bitcoin Guy on October 06, 2017, 04:42:26 PM

Be ready for this reversal. It may happen sooner than you expected.

https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/

As I have mentioned in other posts before, the ban from China should be only temporary. Once they figure out how to regular the crypto market, they will disban the exchanges (provided that the exchanges get proper license).

China is not stupid enough to exclude itself from the crypto ride. Also, a long term ban will damage its status and reputation in the financial market.

China always plays its part in this game. It seems that all those banning was just a part of their long term view's or plan for digital currency. Now that they already figured things out. Confidently they are going back to the market.

Quote

Also, a long term ban will damage its status and reputation in the financial market.

Agree. In the first place they can't afford to let the opportunity to just pass by. I bet they are losing millions on their finance after banning the huge exchanges for awhile

jerrison

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it is indeed necessary for china to resume cryptocurrency trading as it also stands as one of the major pioneers of the crypto currrency pioneers in the globe and it gives the blockchain technological institution more confidence

patt0

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Yes the ban has to be temporary, not really because of it's reputation on the financial market, but simply because it's useless to try to ban bitcoin. The only thing they will achieve with this, will be to send bitcoins users to the dark market, and they will completely lose track of what their citizens are doing. They have billionaires that buy peaces of art, send them to Europe so they can be sold there, and the money is then deposited in a bank account there.
If people can do that with art, they will do the same with bitcoin, either it's banned or not, so it's better for them to try to keep it in sight.

Bitcoin Guy

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Bitcoin is at $5300ish now. Read this article to see why.

https://www.cnbc.com/2017/10/12/bitcoin-price-record-high-above-5000.html

jekjekman

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Quote from: Bitcoin Guy on October 06, 2017, 04:42:26 PM

Be ready for this reversal. It may happen sooner than you expected.

https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/

As I have mentioned in other posts before, the ban from China should be only temporary. Once they figure out how to regular the crypto market, they will disban the exchanges (provided that the exchanges get proper license).

China is not stupid enough to exclude itself from the crypto ride. Also, a long term ban will damage its status and reputation in the financial market.

Exactly to what I am thinking first time I knew about Chinese government banning Chinese cryptocurrency exchanges, they just want to put a tax on it to make a profit out of it because their government know they have the biggest cryptocurrency mining industry in the whole world and a big sum of money online is trading to this exchanges by their citizens.

Chinese people are too smart to find another way to access different non Chinese cryptocurrency exchange so it is not a problem to them and that is why the price of Bitcoin is now going strong because of them are not scared about this regulations of their very own government.

hitrawal91

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I read the article given at the provided link and it is really well written. I knew that Big economy like china is banning the bitcoin exchanges only for short term and they will return back strongly by supporting the Exchanges by giving them proper licenses and rules & regulations for business purposes. It will be a good positive sign and bitcoin prices will boost, once the china provide the green signal to the Bitcoin exchanges. Came to know from sources that China will generate and regulate its private coin soon.

darthmaul

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Quote from: Bitcoin Guy on October 06, 2017, 04:42:26 PM

Be ready for this reversal. It may happen sooner than you expected.

https://www.cryptocoinsnews.com/china-will-likely-resume-cryptocurrency-trading-by-licensing-bitcoin-exchanges/

As I have mentioned in other posts before, the ban from China should be only temporary. Once they figure out how to regular the crypto market, they will disban the exchanges (provided that the exchanges get proper license).

China is not stupid enough to exclude itself from the crypto ride. Also, a long term ban will damage its status and reputation in the financial market.

Yeah all the hype again and I don't know who cares about that really. It is so stupid to think about the bitcoin and china relation anymore. Just imagine man the bitcoin has crossed the 5K USD prices in no time and that too without china, that clearly states who cares if the china is involved or not. Why anyone would really care now, and I'm not sure why people keep opening a topic based on the china in first place. ;-)

Lipe490

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I was sure that this ban would be temporary and regulatory only. China would never fail to lose its share of crypto-coins and price manipulation. And after Japan licensed 11 new exchanges after the
ICOS ban was announced, China must have felt pressured to go back on their decision. Meanwhile we know that China's crypto investors never stopped investing on ICO because in the end, the
announcement was only political. They will keep manipulating prices and whales will keep investing strongly.

Lieldoryn

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I do not understand why the news that China will not ban bitcoin should rejoice. This is the Chinese problem. The market has shown that with China or without it, bitcoin remains a currency of number one. Can I trade currency in Japanese markets. I don't care who makes money on it. If China do not need money may prohibit.

pearlmen

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Quote from: sublime5447 on October 12, 2017, 11:47:59 AM

Bitcoin can be shaken by a country just like what the Chinese government did yesterday but Bitcoin proved to have market power and showed a very good recovery because it's back to $ 4500, so it's not impossible for them to just want to test Bitcoin. they are worried about their citizens because many of them are involved in this field and Bitcoin can also boost their citizens' economy.

I cant imagine a country losing out on the amount of revenue that will paid as taxes and licences renewal by the exchange sites on an annual basis just because they are lacking in their own responsibility. The Chinese government have seen this and just to announce the tightening of the current laws surrounding bitcoin and crypto-currency. With the exchange sites also agreeing to some conditions, everyone leaves the table happy without the need to ban anybody for running his business.

sublime5447

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Bitcoin can be shaken by a country just like what the Chinese government did yesterday but Bitcoin proved to have market power and showed a very good recovery because it's back to $ 4500, so it's not impossible for them to just want to test Bitcoin. they are worried about their citizens because many of them are involved in this field and Bitcoin can also boost their citizens' economy.

Vikingr

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Quote from: severaldetails on October 07, 2017, 08:57:40 AM

I don't think that bitcoin has a problem with China as long as it is not concentrated there.
Last year a large majority of the trades were made in exchanges based in China, that is not good for a currency that is based on decentralization.
But if they have no exchanges at all, we miss the opportunities their market brings.
After all, the only thing chinese government can regulate are the exchanges in China.
And if the importance of chinese exchanges is small, the influence of chinese government is small as well.

They will be welcomed by the bitcoin community they banned bitcoin on the serious concerned and the problem they were suffering and as all of them are sorted out they will like to continue because they know about its world they admit the importance of world and their rejoin will also give benefit to the bitcoin and prices will go up more and this will bring a good time for investor.

Svelto

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Thank you for sharing this piece of good news. This is what I am expecting too. Why shall the China government ban crypto currencies, it is a lucrative business. Once the exchanges are regulated, China can monitor and control its residents easier and earn more from taxes.

buwaytress

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Of course, everyone will now be coming out to say they knew this all along, even though the weeks of selloffs would seem to indicate that the power of rumour still outstrips that of news in trading. At any rate, the Chinese authorities stands to benefit from moving down this path in several ways. First, they could have smoked out the ones they were really after in trying to mitigate capital flight. Second, they can learn immediate lessons from neighbour Japan's already ongoing regulation of exchanges. Third, they will come to learn a lot more about crypto and mining from their discussions and negotiations with these stalled companies. Wins all around, but probably already priced in buy those who bought the dip.

cpfreeplz

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I love how people say crap like "China feels like..." or "China doesn't want to miss out..." you do know that you're talking about a country right? They don't all blindly buy and sell bitcoins in China. There are a lot of users but that doesn't mean the country as a whole gives a crap.

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