China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges - page 2.

dothebeats

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Quote from: Almat on October 07, 2017, 09:53:24 AM

That's excellent. I read somewhere that a lot of Chinese holders dumped when they heard the news of shutting down exchanges. This means it's very likely of them to buy back in. Time to get back to $5000!

Or maybe the other way around. Roll Eyes

Most big names on Chinese probably held and just added more fire to the burning mess that was the FUD on Chinese exchanges. They were indeed successful on causing a massive price dump from uncertain holders, and have now accumulated enough to pump the price to higher highs again. Also, isn't it shady that after everything is going well, these Chinese regulators comes back and wants to "reconsider" their decisions? Pretty cool huh?

Md Saad

sr. member

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I think so, they had an intention to regulate the cryptocurrency sector. but a lot of people have left due to this reason. but China has to come back this platform for the sake of their population. I think Chine will surely come back to this platform in the near future.

tundexijim

newbie

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True, I know China will surely come back.

Barcode_

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This shows that even the 2nd largest economy country in the world can't stop bitcoin in any way, banning crypto-currenices exchanges operating in china is just a bad decision made by the Chinese government, and they realize their citizens are still able to purchase and trade crypto-currencies in other ways, so it is still a better idea to regulate the crypto-currencies exchanges and allow them to operate legally in China.

luffy7

member

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Great. Now more China people will believe and use bitcoin more. People are afraid of unregulated stuff. To da moon!

Freezingel

sr. member

Activity: 574

Merit: 251

Thought that this will happen, but way earlier than my prediction. I thought they will allow exchange to operate again by 2018. Bitcoin is huge in china there's no way they will throw that away.

Rinder

hero member

Activity: 868

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All people had received the ban of exchanges and ICO as China were against bitcoin and crypto, but the real thing is they only stoped those for a while to legalize all companies involved into the crypto world, soo we can assume they had a huge impact at the price, soo maybe we will see a wave of demand for bitcoin once those exchanges back into the market.

Almat

sr. member

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That's excellent. I read somewhere that a lot of Chinese holders dumped when they heard the news of shutting down exchanges. This means it's very likely of them to buy back in. Time to get back to $5000!

salihno71

sr. member

Activity: 420

Merit: 250

China will probably try to tax the transactions in some way, maybe trough additional fees on the exchanges. They generally like to control whatever happens on their turf so this is no exception but on the other hand they don't want to fall behind by completely banning any trade. It looks like someone is really paying a close attention on the topic in chinese government.

xianbits

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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.

This is a very great news. So China has now realized that they can't really control crypto trading since there are those who do it peer-to-peer. Good thing they have thought of the KYC and AML systems which can prohibit illegal/criminal acts related to bitcoin rather than totally banning everything. For sure, the price will skyrocket anytime soon.

severaldetails

hero member

Activity: 959

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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.

mobnepal

legendary

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They might issue new type of trading license for bitcoin exchanges which will have many requirements and restriction. Big banks and relatives of government officer will get those licenses and entrepreneurs will be left behind.

Chinese government is losing so much in taxes because of peer to peer trading so all this chaos they have created by banning bitcoin trading platform is just their strategy to buy some cheap bitcoins and issue license to their relatives and big banks.

matuson

sr. member

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It seems to me that it is too early to rejoice. If the Chinese government will start to control the cryptocurrency market could lead to falling prices. We understand that this is done in order to take taxes. Accordingly, increasing the price of mining. The rise in the price of the transaction. Many negative consequences of this step can be. They will definitely affect the price.

audaciousbeing

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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.

I had known this is what will happen eventually and that is why there is no official statement from them concerning the ban. What j think sent some warnings to them was because the moment the rumor was going round, it was equally creating another opportunity for countries like Japan and South Korea ready to fill the gap created by their proposed exit even before announcement. That alone is enough to make them have a change of heart.

Another is looking at the future because the moment they are able to lose the number 1 spot finally, its never coming back to them and bitcoin is not stopping so not to sound hypocritical, they had to come with more spinning of regulations which we all know was not the plan initially.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

China and bitcoin are inseparable. or at least it looks like it.
bitcoin is being used a lot more than the government can do anything about it and stop it. so the only option that is left for the government is try and take as much control back as they can.
they do it through regulating the exchanges and trying to put them on leash so they can control the flow of money in and out of them and watch it closely for money launderers.
it happened before and it will happen again.

Lucius

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China is only tries to regulate the crypto market in the best possible way to prevent money laundering and illegal withdrawal of money from the country.If they manage to implement measures which will enable them to have control on market(exchanges) they will probably allow to game start again, but this time by their rules.I never thought they could totally ban it,big money is in this game.With all the potential which this industry has it would be really unreasonable to stay sideways.

yugyug

sr. member

Activity: 616

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China are try toying us , they test the water what would be the outcome for what ever intention they may have all i can say is they failed. Bitcoin community doesn't care any conflict about China agains bitcoin. People now already learned a lesson and besides, Japanese with arms wide open,welcomes bitcoin ready to embrace if ever China are trying to kick-out bitcoin out of their territory. China's influence has a lesser impact than before although they hold the largest bitcoin supply but it is useless if not circulated worldwide, they have the supply but their demand is less, the largest demand are outside China, Japan and South Korea are the two largest bitcoin adaptor in the world today and Japan could be the next largest bitcoin mining firm, some Japanese semiconductor companies are now beginning to produce mining hardware twice as fast and efficient than China's Bitmain mining hardware.

Marileno

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This makes a lot of sense to me. All governments want is control and being able to regulate this space is certainly on all their minds right now. One of the major factors is all the tax revenue they miss out on while it is unregulated. That said though, the inner working of the Chinese government are a mystery to most so who knows what they will do. Other countries are more likely to take this route faster imo

jech1028

member

Activity: 67

Merit: 10

China is just an FUD. They just want to buy bitcoin in low price. China is Smart.

Yaunfitda

hero member

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Quote from: yishak on October 07, 2017, 03:03:19 AM

So what? Aren't we all tired of China controlling the cryptocurrency market? I personally don't want China to unban bitcoin exchanges. I don't want them to toy around with the market its better if they stay out of this. We don't need China to make bitcoin's price go up . Bitcoin has reached $4380 without China's help and I believe it will continue making a steady growth.

Yes, we are really tired and we don't want any negative news coming from them. If they decided to come back then good, if not no problem. We have overcome the situation already and we are seeing a nice growth since they left already. They can't really stop bitcoin if that is their plan. And the one that are really hurting from their decision is the Chinese bitcoin community itself. By now I will take everything with a grain of salt every news coming from them regarding bitcoin.

Topic: China Will Likely Resume Cryptocurrency Trading by Licensing Bitcoin Exchanges - page 2. (Read 1286 times)