Topic: Fake news :Bitcoin is not banned in china (Read 3513 times)

Bitcoin isn't banned in China but the exchange, now exchange companies are seeking license abroad to operate since China won't allow Bitcoin exchange and other Altcoins other than their own ICO.

 Well yes, maybe it is indeed true that China already banned bitcoin.  In any case, should we be worried about it?  Considering the fact that China banned bitcoin and the news from Dimon that bitcoin is fraud, we can see that there is just a little effect on bitcoin price.  Bitcoin is still the most preferred, most trusted, and well known crypto currency.  And even if its price will go down, I still believe that its price will goes up again.  Its price will be a good opportunity for people who are into investment.

What are you all discussing about? Don't you know as of now a few bitcoin exchanges of china locality have dialect farewell to cryptocurrency community?
It was a true news and now it turned into reality, we can't make it happen happen reverse by our enthusiasm.
Anyways, digital currency market speculators are in believe that banned exchange platforms would return after they get licensed from their government but this would also take time. Currently we have to accept the truth.

Probably bitcoin is really profitable for bitcoin users but how you can assume that bitcoin is profitable for china? how can you assume like that when there's so many tax avoider hiding their wealth in china, well, I just heard that from rumour in the internet, don't know if it's true.
By the way, your statement that saying by banning bitcoin china will not going to success is just doesn't make sense.

I think too. Bitcoin comeback with it's rate. We are very happy to see it.

I did not panic because I am sure that China's ban is temporary and in general bitcoin can successfully develop without China. This news only reduced the price of bitcoin for a while and allowed buying coins at a cheap price.

Yes that news was wrong and I was thinking how a sensible country can ban such a valuable thing in their region, the rumor spreader did very wrong. Chinese are now clearing all this and they said we are in it and we will not leave it many of investors are from china they don’t want to lag in field of development. And world will be more far than they.

Chinese are wise nation they cannot ban such a profitable coin just without any reason they know this coin can give them strength also their economy can earn some boost.

And they know the problems that will arise without bitcoin and they will not do it in future also because they know there is lot of success in bitcoin and banning it mean saying no to success.

How is it possible that such a sensible government can ban such a valuable currency that will give them a lot of profit and will boost their economy .All the news that are going viral are not authentic and have no proofs. So don’t stuck into such a debate and invest more to gain more the true investors doesn’t care what other say he have a faith in bitcoin.

Bitcoin has been a major disruptor in China and its socialist monetary policies.
As such, it is believed that the Chinese government has perceived the growing interest of the digital currency as a threat especially as Chinese investors have been seen to buy up Bitcoin and bet against the yuan.
The anonymous source cites “too much disorder” as the reason for the alleged shutdown, echoing the Chinese central bank’s words last week criticizing ICOs for disrupting the country’s financial order.

I think it is true but the question is that why the price of bitcoin fell very low in the past few weeks? The reason was that all the people realized that China has banned transaction in bitcoin. So there are two different thoughts about the banning of bitcoin in China. May be it is false that china has banned bitcoin because the news says that in the near future china will legalize bitcoin.

Yeah, FUDDERS are losing a lot of credibility these days.

I hope the Chinese government is not banned bitcoin because bitcoin is a big industry and gives a lot of work for chinese citizens, if banned of course unemployment will increase in china.

not everything will end like that later, because each country has its own capacity to manage Bitcoin.
and China reacts as it may be because they can not control or manage how bitcoin lanes are

To all of you saying cryptocurrency will be doomed if they ban the exchanges, atomic swap was tested and it was successful. Quoting bitcoin magazine:

Atomic Swaps

"Interoperability between Bitcoin and altcoins is not new. So-called atomic swaps (or atomic cross-chain trading) were first described by Tier Nolan back in 2013.

Let’s say Alice has 200 litecoins, but prefers 1 bitcoin. And Bob has 1 bitcoin, but prefers 200 litecoins. So Alice and Bob agree to trade. But neither Alice nor Bob trust each other, so neither wants to be the first to send over the coins. The other may not return the favor.

That’s why Alice and Bob set up an atomic swap.

Atomic swaps utilize a clever trick known as a hash time-locked contract, which in turn leverages the potential of multisignature addresses and time-locks. All this is enabled by the basic scripting language found in Bitcoin and most altcoins, including Litecoin.

In short, Alice and Bob submit transactions to both blockchains: one on Bitcoin and one on Litecoin. The Bitcoin transaction sends 1 bitcoin from Bob to Alice, but Alice can only claim this bitcoin if she reveals a secret number only she knows. The Litecoin transaction sends 200 litecoins from Alice to Bob, but requires the same secret number on both chains.

When Alice claims her bitcoin, she reveals her secret number on the Bitcoin blockchain. And with that same secret number, Bob can, in turn, claim his 200 litecoins.

Even though the transactions are on completely different blockchains, they are effectively linked. Bob just needs to monitor the Bitcoin blockchain to see if Alice claimed her bitcoin so that he can claim his litecoins.

All this works today. But it is a bit of a hassle. Alice and Bob need to find each other to set up the atomic swap, which then requires several transactions on multiple blockchains.

This can be improved.

(Note: there are some extra steps to ensure that Alice actually does claim her bitcoin within a limited amount of time so that Bob can also claim his litecoins in a timely manner. The specifics are beyond the scope of this article; however, for details on how hash time-locked contracts work, see Understanding the Lightning Network, Part 2: Creating the Network.)"

And that's why banning the exchanges won't kill cryptocurrency.

These are the major risks with bitcoin. Government will shut them down eventually.

Just to make it clear. China CAN ban bitcoin if they want to. The case now is that, they are not YET banning bitcoin and I think that they WON'T ban it because many Chinese investors have put their money on it. If China bans bitcoin, these Chinese investors will surely get raged and will surely affect the country's economy. So stay calm. I am not even alarmed with that news anymore.

Yes they cant ban bitcoin, but they can ban the use of it.. heard also they charge big to those ICO that are accounted for. But as said there is nothing to be afraid of. As google was ban in china it still strive to millions now. In bitcoin it will be the same.

I researched about china banning bitcoin and is not true but they only can manipulate it. They only prioritize their own money country it only controlling the bitcoin in their country to the economy . don't us panic because its only a hoax news or fake don't sell your bitcoin because no one can destroy it.

first this is bullshit.
secondly it is impossible to do which makes it even more bullshit
third it is bitcoin.com and they have just been trying to put fuel into the already burnt out fire to try and pump their altcoin (bitcoin cash). and they have been failing.
finally, a click-bait news site which belongs to Roger Ver is not a reliable source.