How are you taking the China Bitcoin Ban? - page 2.

Natsuu

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Quote from: Em00n01 on September 27, 2021, 03:39:46 PM

What do you think about this? How are you taking this ban?

It is now just repetitive and a same old thing. The market didn't collapse everytime this news spreads so its actually not a big deal. Plus, banning of BTC in china doesn't mean that the hodlers will actually throw away/sell their btc right away. Yes they will ALL sell it in the right time but it is a normal trading/investment scenario that will not affect me at all. They can just hide it and pretend nothing is happening.

Sayeds56

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Quote from: nelson4lov on September 27, 2021, 04:43:46 PM

Tbh, I'm not that bothered about the ban. The only downside to that news is that market always reacts to it negatively and that's what we're seeing right now. Aside from that, I'm not bothered. I mean, this is actually not the first time that China has openly gone all out for crypto and definitely won't be the last. Just like @jackg said, the ban might just be to prevent people from investing and that they should focus more on government based ventures.

Absolutely right. This is not first time CHINA banned crypto currency in their country, there is long history of banning and it always had temporary effect on Bitcoin price and later it recovered quickly. Bitcoin is decentralized and anti inflation digital currency and it has won the confidence of investors with its outstanding performance since it was launched so serious and long term investors will continue holding it and this kind of FUD won't bother them much.

Questat

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Quote from: AakZaki on September 29, 2021, 09:13:06 PM

When China always gives negative news for bitcoin, it's China's decision and we can't stop it. what we can do is not have to respond or expose it. As long as I or you who are not Chinese will not be a problem, we just have to ignore it.
China has always been against crypto and the peak is now. Chinese citizens are prohibited from using crypto and big miners in China are expelled.

When China is no longer influential for crypto, then other negative news will have no effect.

They're done, their market influence has been over a very long time, and even hearing such banning issues or FUD's, it never weighs a lot and it was just ignored. That is why we'd never see a huge impact on the trend, it was just a coincidence that happens. Maybe some did selling after reading the news but the majority of we're still calm and patient waiting for the recovery as I believe it won't take so long.
We have nothing to expect from China anymore and expected to hear that again someday until they become a crypto-free country.

AakZaki

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When China always gives negative news for bitcoin, it's China's decision and we can't stop it. what we can do is not have to respond or expose it. As long as I or you who are not Chinese will not be a problem, we just have to ignore it.
China has always been against crypto and the peak is now. Chinese citizens are prohibited from using crypto and big miners in China are expelled.

When China is no longer influential for crypto, then other negative news will have no effect.

arwin100

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Quote from: Botnake on September 29, 2021, 06:11:18 PM

Quote from: Mahanton on September 29, 2021, 04:28:07 PM

Quote from: Shenzou on September 29, 2021, 01:00:07 PM

Hate or not the news about a government and especially a big one like china completely banning the use of bitcoin is a negative news and we are truly seeing its influence on the market, sure they banned the mining in earlier date and that affected the price slightly, but banning the use of it is a big deal, and we all know that the government has a some strict surveillance on its people so anyone who is using bitcoin will defiantly be looking to sell.

There's nothing we can do but to deal with it because this is something that cant really be changed whenever they do like on banning everything according to their liking.China's behavior had been always like this on where they do really get rid of things that they dont like or simply cant control knowing on how a communist country China been then its no surprise that they would really be making such action but based off on history then
there are several times that China make out some pullbacks of their decisions which turns out to be having that impression to be a bit manipulative.

For me, i chose to be calm as i'm not affected with this and i think we bitcoiners should have to accept and live with this. This is not the first time banning from China so probably, there will still bannings that will happen every year. And knowing China who's very authoritative, so they will do everything just to make bitcoin stop from evolving. But that will not happen for sure. Because China is just a single country, there are still lots of countries who are supporting and adopting bitcoin too. In the long run, China will never have an effect to bitcoin anymore even how many bannings will be imposed.

This should be how we take on those issues hurdling down by China and we need to accept that this kind of attack towards bitcoin is normal since they want to manipulate the result then gain at the end of the day if they are successful to move downwards the market.

And its good to see how the market goes after they fud since even though we see it again that China spreading fud in the market we can still see that bitcoin is going solid run.

Botnake

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Quote from: Mahanton on September 29, 2021, 04:28:07 PM

Quote from: Shenzou on September 29, 2021, 01:00:07 PM

Hate or not the news about a government and especially a big one like china completely banning the use of bitcoin is a negative news and we are truly seeing its influence on the market, sure they banned the mining in earlier date and that affected the price slightly, but banning the use of it is a big deal, and we all know that the government has a some strict surveillance on its people so anyone who is using bitcoin will defiantly be looking to sell.

There's nothing we can do but to deal with it because this is something that cant really be changed whenever they do like on banning everything according to their liking.China's behavior had been always like this on where they do really get rid of things that they dont like or simply cant control knowing on how a communist country China been then its no surprise that they would really be making such action but based off on history then
there are several times that China make out some pullbacks of their decisions which turns out to be having that impression to be a bit manipulative.

For me, i chose to be calm as i'm not affected with this and i think we bitcoiners should have to accept and live with this. This is not the first time banning from China so probably, there will still bannings that will happen every year. And knowing China who's very authoritative, so they will do everything just to make bitcoin stop from evolving. But that will not happen for sure. Because China is just a single country, there are still lots of countries who are supporting and adopting bitcoin too. In the long run, China will never have an effect to bitcoin anymore even how many bannings will be imposed.

flip4flop

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Ultimately the reason China is banning cryptocurrency is they see it as a threat to their economy and at the same time as an opportunity to push the digital yuan which has been an ongoing effort to develop for years. I don't see the digital yuan as quite ready to be rolled out yet but these bans and tighter restrictions are stepping stones for when they are ready. They want more laws and regulations on the books so when the time is right they can enforce them and it won't be seen as one swift action. It will instead be a series of small actions that slowly tightened their control over the digital economy with the final step being the deployment of the digital yuan. Will it be successful? I have no idea but that is how I see it today.

Mahanton

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Quote from: Shenzou on September 29, 2021, 01:00:07 PM

Hate or not the news about a government and especially a big one like china completely banning the use of bitcoin is a negative news and we are truly seeing its influence on the market, sure they banned the mining in earlier date and that affected the price slightly, but banning the use of it is a big deal, and we all know that the government has a some strict surveillance on its people so anyone who is using bitcoin will defiantly be looking to sell.

There's nothing we can do but to deal with it because this is something that cant really be changed whenever they do like on banning everything according to their liking.China's behavior had been always like this on where they do really get rid of things that they dont like or simply cant control knowing on how a communist country China been then its no surprise that they would really be making such action but based off on history then
there are several times that China make out some pullbacks of their decisions which turns out to be having that impression to be a bit manipulative.

antminerguruguy

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Quote from: Em00n01 on September 27, 2021, 03:39:46 PM

Some reports telling that china government's place is second in holding Bitcoin. But we're seeing that china is always publishing negative news about crypto currency / Bitcoin. They've published noticr about banning Bitcoin in a several times.
Ref:
https://www.linkpicture.com/q/FB_IMG_1632747711734.jpg
https://www.kevinrooke.com/bitcoin.

What do you think about this? How are you taking this ban?

Well we don't understand at the moment here what the BAN is doing. Is the chinese government rounding up all bitcoin facility owners and locking them away in jail? Are just technologically seizing bitcoin? Are they putting people in prison for using it? Well what are they banning? are they enforcing the law putting bitcoin miners away for fraud? Maybe you could explain what there seizing if anything. Maybe this is the government making themselves rich seizing all the bitcoin from all the facilities is that what is going on?

Can you explain whats going on?

Tybi

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The Chinese government's ban on bitcoin now has no effect on the public because the Chinese government has banned bitcoin before. Now the Chinese government is speculating on the price of bitcoin Reduces bitcoin purchases.

Shenzou

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Hate or not the news about a government and especially a big one like china completely banning the use of bitcoin is a negative news and we are truly seeing its influence on the market, sure they banned the mining in earlier date and that affected the price slightly, but banning the use of it is a big deal, and we all know that the government has a some strict surveillance on its people so anyone who is using bitcoin will defiantly be looking to sell.

Kasabus

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Quote from: mksundip on September 29, 2021, 10:51:05 AM

Quote from: jakdanyel on September 28, 2021, 02:13:48 PM

I'm not taking this very good honestly. I don't know why China government banned cryptocurrencies but actually it is not too hard to predict the reason correctly. They have already been antagonizing cryptocurrencies for a very long time. And they have finally decided to impose a ban on them. They didn't want their people to take big risks in this market. But this not the best way to approach to this market.

we have to realize that china is doing propaganda market for crypto especially bitcoin. If it's true that China is banning crypto, China should be sporting to prohibit anyone in China from owning bitcoin. However, the reality is that China currently occupies the 2nd position with the largest crypto holdings in the world. this is clearly an unreasonable thing and a market propaganda for china to take advantage of the moment to profit from bitcoin in the future

As we have seen in the chart, China has been a big part in crypto holdings but what they are showing to us is that they don't really care about what the future of bitcoin is. Are they only manipulating the market? So that if the market dumps, they will be buying bitcoins that are in cheap prices. I guess this is their own motive, to take advantage whenever there is an opportunity to buy. Their banning of bitcoin is just a front so that everyone will believe that they won't be needing bitcoin because they believe in their own virtual currency.

NotFuzzyWarm

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Frankly, I really do not care one bit about China banning crypto.
Ja it sucks if you live there but I don't Wink

mksundip

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Quote from: jakdanyel on September 28, 2021, 02:13:48 PM

I'm not taking this very good honestly. I don't know why China government banned cryptocurrencies but actually it is not too hard to predict the reason correctly. They have already been antagonizing cryptocurrencies for a very long time. And they have finally decided to impose a ban on them. They didn't want their people to take big risks in this market. But this not the best way to approach to this market.

we have to realize that china is doing propaganda market for crypto especially bitcoin. If it's true that China is banning crypto, China should be sporting to prohibit anyone in China from owning bitcoin. However, the reality is that China currently occupies the 2nd position with the largest crypto holdings in the world. this is clearly an unreasonable thing and a market propaganda for china to take advantage of the moment to profit from bitcoin in the future

Cling18

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Quote from: Upgrade00 on September 27, 2021, 04:57:17 PM

I do not live in China, so the ban doesn't bother me at all. It would have an impact on the price, but that would only be temporary, eventually the market would adjust to it. The Chinese government simply locked themselves out of the network.

My country banned banks from mediating transactions involving Bitcoin some months ago and this actually increased the popularity of bitcoin, so, the decision of the Chinese government could actually have a positive effect in the long run.

It's a good thing that most of us here aren't living in China. The market might be affected by the banning these days but I'm sure that it wouldn't affect Bitcoin in the long run. We all know how Bitcoin could surpass all the tests of time and because of its stronger foundation, I believe that it could stand firmly despite this kind of ban.

glendall

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maybe many people don't care about the news of the bitcoin ban from china, because this is the umpteenth time china has made a statmed when it prohibits activities in the form of bitcoin, if I'm not mistaken from 2013 this news started to exist, but we can see bitcoin still exists and continues to grow , I think this news is just a price diversion so that the Chinese people can buy bitcoin again at a low price and make bitcoin reach a new ath again

kayiboyu

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I'm not taking the China ban very good because it affected the market in a really bad way. Maybe Bitcoin price didn't drop very sharply and it is actually maintaining its usual level. But the main problem is that there will be so many people who will have to stop using Bitcoin or any cryptocurrencies. As people will start selling their coins, this can cause Bitcoin not to hold onto the current resistance level for a long time.

Mr.sprin

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Until now bitcoin is still standing and the price of bitcoin is not so affected by the issue made by the Chinese state, this proves that bitcoin is independent and does not depend on anything even on the state. With this incident bitcoin is increasingly in demand by new investors.
China makes issues like this, of course they have a mission and if the price of bitcoin goes down with the issue they make then they will buy bitcoins in large quantities and after that they will make positive issues about bitcoin with the aim of boosting the price of bitcoin and they sell it they will get the advantage of this incident, so don't be easily influenced by issues made by countries like China, they only prioritize personal gain and don't care about others.

osasshem

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I will take my say that the ban can and will majorly affect the users within and from the China region. The Chinese has more users, followers, backers and supporters in the crypto world. When we talk or look at the big miners, it comes from China, and now the government is kicking against it. This which the Chinese government is doing is to affect the international usage of bitcoin from banks and local stores (cause I will believe China is already making use of bitcoin on the daily activities). This ban will not be affected if the coins are stored in cold or offline wallet, whereby the internet is not need for that.
This will affect the price of bitcoin as fundamental analysis will have its play somehow, and which will not take long.

RiskySanchez

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This is really weird China bans bitcoin, mining and all crypto markets I think what conspiracy is China planning? Every 4 years when the bitcoin trend increases, that's where Chinese news always appears and continues to sell old news, is this a scheme of the whales? who knows. it's all still a mystery China's freedom is to use the products they own not the world owns that's what i understand how china works in regulating their country because of that crypto is the goal of china to regulate it from their country including dumping bitcoin prices

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