【I am in China】About China 2021/09/24 FUD

leea-1334

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Quote from: ?? on ??

Don't believe what they say immediately, we need a lot of people to share their story so that we can see what's really going on in there, remember that most Chinese people are patriotic and they won't be saying anything bad against the country.

I think almost every person automatically defends their country no matter what,,, this is my experience, even if in private we may all hate our government:)

You know the famous Chinese meme about a Chinese guy saying to Trump: don't trust China, China is ***hoe Wink

Besides, OP was actually sharing something not so positive so I can believe it, he was not saying anything particularly factual!

pooya87

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Quote from: BlackHatCoiner on September 28, 2021, 01:03:08 AM

Also, isn't the Chinese government the one holding the most bitcoins? Why do they keep banning it? Unless, that's a lie too.

Possibly, but the reason why Chinese government is cracking down on bitcoin is that they have been trying to replace US Dollar with Chinese Yuan and also they have plans to push for digital Yuan. They seem to believe that letting people freely use bitcoin could pose a threat to that goal. Easter block is already moving away from dollar anyways.

Amph

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you can still do it privately i suppose, so who care... bitcoin is unstoppable no matter what they are trying to do here, it's useless, their own centralized crypto will not prevail it's just another digital fiat garbage

rodskee

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Quote from: ?? on ??

official statement

--------------------------------------------------------------

2021年9月15日

You must put the official statement translated in ENGLISH mate and not written in Chinese because this is a english forum and only few can understand what you posted.

Quote from: ?? on ??

Quote from: leea-1334 on September 28, 2021, 12:59:30 AM

Thank you for sharing OP and I think we need more people like you to explain and share what is really happening.

According to posts I read from the week since the announcement though,,, people are saying it is still not illegal to exchange between people, after all crypto itself is not banned, now only mining and exchange transactions. Can you confirm it is true?

Don't believe what they say immediately, we need a lot of people to share their story so that we can see what's really going on in there, remember that most Chinese people are patriotic and they won't be saying anything bad against the country.

sounds legit , it is hard to believe in Hear Says because there are reality outside this forum that Only Chinese People can clarify and speaks well.

BlackHatCoiner

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Farewell, Leo

Quote from: pooya87 on September 28, 2021, 12:36:42 AM

The statement that is circulating the internet these days is "China banned bitcoin" and "Cryptocurrency is illegal in China" both of which are lies hence they are FUD.

I sometimes wonder how many lies are said in the internet news. For example, I didn't know that; I was convinced that China banned it completely. I knew they had done this before, like 7 times, but I felt they indeed illegalized it.

But, now you're telling me that they've made illegal buying Bitcoin, not using Bitcoin. This changes the fact completely.

Also, isn't the Chinese government the one holding the most bitcoins? Why do they keep banning it? Unless, that's a lie too.

leea-1334

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Thank you for sharing OP and I think we need more people like you to explain and share what is really happening.

According to posts I read from the week since the announcement though,,, people are saying it is still not illegal to exchange between people, after all crypto itself is not banned, now only mining and exchange transactions. Can you confirm it is true?

pooya87

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Quote from: stompix on September 26, 2021, 07:25:09 AM

Contradiction much?
I don't understand this addiction to call everything FUD.

It depends on the statement which is why I don't see any contradiction here. The statement that is circulating the internet these days is "China banned bitcoin" and "Cryptocurrency is illegal in China" both of which are lies hence they are FUD.
What is banned is using your bank to buy/sell cryptocurrencies. Using bitcoin (paying or get paid) owning and even trading it without your bank is legal; ergo bitcoin or cryptocurrencies are neither banned nor illegal.

Funny enough this same thing is true in many other countries. Google stories about bank accounts (in different countries) that were closed just because the account owner used it to buy bitcoin! But just because this was from "China" it suddenly becomes a big news.

bk201-xyz

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Quote from: Kaylana on September 27, 2021, 02:02:40 AM

So, what are you going to do next? Will you sell all your cryptocurrencies and exit the market? It's frustrating to hear that you are helpless.

I will continue trading,
Uniswap is a good choice.
but withdrawal is a problem.

BIN-BIN

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China is just depriving its citizens the freedom to independent financial life, well I guess p2p is the only way to go in this situation. If the exchange requires your KYC then it becomes impossible to bypass using VPN.

Zedpastin

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Quote from: Anonylz on September 27, 2021, 03:16:28 PM

If there is an ignore button to this constant China btc ban news in all the news outlets who published this news, I would suggest we all use it to show our lack of interest in their shenanigans, they should realise nobody cares much about this news anymore, this isn't 2018.

This is a ignorant view point of course people care and the people of China are devastated by the news just because you do not live in China does not mean you should not care about how a government is negatively effecting peoples lives because they have a alternative agenda to Bitcoin. We should be supporting any one that wants to use Bitcoin because it strengthens Bitcoin for us all. A lot of Bitcoin nodes were being run in China and because of this ban a lot of those nodes will now go offline weakening the Bitcoin network. They will not weaken it to critical levels but it will weaken the network. I hope what Franky said about the government licensing certain exchanges to trade Bitcoin is correct because at least that would be better then a complete ban for everyone that uses Bitcoin.

Anonylz

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If there is an ignore button to this constant China btc ban news in all the news outlets who published this news, I would suggest we all use it to show our lack of interest in their shenanigans, they should realise nobody cares much about this news anymore, this isn't 2018.

Zedpastin

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Quote from: Imran232 on September 27, 2021, 05:10:24 AM

I do not care about China. Because they are always fud creators. They are like bi*ch. Because of them, some of my friends got a liquidation of their 30% portfolio. Actually, I always stay away from future trades. But my friends' trap me in this. Actually, China will do this again and again. That's why I don't want to talk about China. I am just aware of those people who believe in this type of fud. and making the market candle red. Why should we understand that bitcoin doesn't depend on any country, so why should we follow any countries' news that they approve it or ban it? Bitcoin is our currency and we are the controlers of it, but we are still trapped by this type of fud.

I care what China does because it is against the basic human rights that most of the western world has. The Chinese government control their citizens and prevent them from using legitimate services just because they do not agree with the ideology or see it as a threat to their way of governing its people. I think we should all care and stop labelling China as fud creators it is not the people of China that are creating the fud it is the government of China creating it to try and stop people using Bitcoin. We should not look negatively on the people of China because of the wrong doings of the government. Instead we should speak out against it and end the corruption that is plaguing the country. Bitcoin adoption in China helps your Bitcoin become more valuable and it is in your best interest to have every country allowing Bitcoin to be traded and exchanged.

Cryptoshops

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I see that the 2nd biggest China based Ethereum mining pool Sparkpool has shut down all services both in China and abroad.

SFR10

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Quote from: Leviathan.007 on September 26, 2021, 11:36:29 AM

Just as a suggestion why you don't create a group of trusted people with your friends who own bitcoin and interested in trading cryptocurrencies
~Snipped~
You just need to transfer bitcoins to your friends and they will give you some money in cash or using back transactions.

That might work for small amounts, but for larger ones, they'd probably have to deal with problems like insufficient supplies... Sooner or later, that'll lead to expanding the group and that's where it gets tricky!

Quote from: Leviathan.007 on September 26, 2021, 11:36:29 AM

so you won't be tracked and the government won't understand anything.

Depending on how they do it, they could still get caught if they're not careful enough ^{[unfortunately]}!

Quote from: franky1 on September 26, 2021, 04:13:12 PM

in short give it some time and china will start allowing licences

Even if that happens, I highly doubt they'd give those to "normal" individuals!

Imran232

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I do not care about China. Because they are always fud creators. They are like bi*ch. Because of them, some of my friends got a liquidation of their 30% portfolio. Actually, I always stay away from future trades. But my friends' trap me in this. Actually, China will do this again and again. That's why I don't want to talk about China. I am just aware of those people who believe in this type of fud. and making the market candle red. Why should we understand that bitcoin doesn't depend on any country, so why should we follow any countries' news that they approve it or ban it? Bitcoin is our currency and we are the controlers of it, but we are still trapped by this type of fud.

NotATether

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Quote from: bk201-xyz on September 26, 2021, 10:16:24 AM

VPN does not help, because providing transaction services may go to jail
Once the exchange of CNY and USDT becomes difficult, most Chinese people will be excluded
The cause of the current panic is the exchange problem between CNY and USDT

And there's no way to convert CNY to some intermediate fiat currency (e.g. EUR) first before passing it on to USDT? I'm suspecting that door is closed too.

Kaylana

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So, what are you going to do next? Will you sell all your cryptocurrencies and exit the market? It's frustrating to hear that you are helpless.

Tashana

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Quote from: bk201-xyz on September 26, 2021, 10:16:24 AM

VPN does not help, because providing transaction services may go to jail
Once the exchange of CNY and USDT becomes difficult, most Chinese people will be excluded
The cause of the current panic is the exchange problem between CNY and USDT

You can’t withdraw money, and it’s not directly confiscated. The most panicking thing is May 19, which has already passed.
Then learn to use decentralization. Now that Chinese users are restricted from withdrawing funds, someone will definitely find a way to let them find other channels to withdraw funds.
This panic is almost relieved.

Zedpastin

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Quote from: franky1 on September 26, 2021, 04:13:12 PM

a nations law cannot regulate/license its use legally until they first ban it and make it illegal

EG if alcohol prohibition did not happen to ban alcohol government could not then make alcohol licences to allow certain businesses to then operate as all businesses would still operate for free.

in short give it some time and china will start allowing licences

I think you might be right the Chinese government want to profit directly from people using Bitcoin. I think the safest option atm if you live in China would be to keep your Bitcoin safe and hold it until it becomes clearer in a couple of months whether China are going to license certain companies to trade in Bitcoin. I expect if they do allow licenses the tax on cryptocurrencies will be extremely high and will eat into the profit of any traders business but it would be better than what they are currently doing.

Quote from: hatshepsut93 on September 26, 2021, 04:06:54 PM

Quote from: LFC_Bitcoin on September 26, 2021, 07:37:50 AM

Nothing a foreign bank account, a VPN & an account on a European exchange can’t solve in all honesty.

Can Chinese people easily open foreign bank accounts? I thought China is really hard on controlling the flow of capital to prevent it fleeing from their country. Chances are, Chinese citizens will be getting caught while sending or receiving funds from foreign exchanges/bank accounts if their regulators have enough control, which I assume they do, knowing how totalitarian China is.

I think most banks will be on high alert of Chinese residents trying to open up bank accounts and then commit a crime using their new bank account to trade Bitcoin. I think it will be hard to open a account because you need to provide ID and when that ID says you live in China they will probably refuse your application.

franky1

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a nations law cannot regulate/license its use legally until they first ban it and make it illegal

EG if alcohol prohibition did not happen to ban alcohol government could not then make alcohol licences to allow certain businesses to then operate as all businesses would still operate for free.

in short give it some time and china will start allowing licences

hatshepsut93

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Quote from: LFC_Bitcoin on September 26, 2021, 07:37:50 AM

Nothing a foreign bank account, a VPN & an account on a European exchange can’t solve in all honesty.

Can Chinese people easily open foreign bank accounts? I thought China is really hard on controlling the flow of capital to prevent it fleeing from their country. Chances are, Chinese citizens will be getting caught while sending or receiving funds from foreign exchanges/bank accounts if their regulators have enough control, which I assume they do, knowing how totalitarian China is.

Quote from: stompix on September 26, 2021, 07:25:09 AM

- title describes the situation as "FUD"
- content says everything has become illegal

Contradiction much?
I don't understand this addiction to call everything FUD.

No, it's a damn FACT! It's as real as it can get, the PBOC has issued this notice which as fucked as it might be in China has the same power as the real law issued by the parliament in other states, and unless anything changes yes, cryptocurrency have become nearly illegal, the only thing not punishable is possession.

Bitcoin community has a huge persecution complex and this idea that the major powers of this world, like banks and governments, are always plotting against Bitcoin. But if any of that was true, those powers would have simply banned all white market uses of Bitcoin.

aoluain

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Yea this is pretty real, China is closing the door and thats great. As soon as the fudsters
run out of fuel on this the better. And while its a pity for the citizens of China its good
to have closure on this, there wont be the constant speculation of "will they ban crypto?"

Again its a pity for the citizens in general in China there surely will be work arounds or
cheats for some im sure but they will be a minority.

Leviathan.007

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Just as a suggestion why you don't create a group of trusted people with your friends who own bitcoin and interested in trading cryptocurrencies so you won't be tracked and the government won't understand anything. You just need to transfer bitcoins to your friends and they will give you some money in cash or using back transactions. In this p2p method you won't even pay any exchange fee.

stompix

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Blackjack.fun

Quote from: LFC_Bitcoin on September 26, 2021, 07:37:50 AM

Nothing a foreign bank account, a VPN & an account on a European exchange can’t solve in all honesty.

If the exchange in question bans Chinese users I would advise against it.
There are a lot of things that can go wrong and nowadays a lot of them are simply preying on suspicious users, one failure of the kill switch in your IP, one bug in your VPN that gives a different country IP, and good luck with the support team and getting you funds back.
I've seen tons of such stories later both here and on Reddit, for exchanges this is a perfect source of income, not even 0.01% will be able to go and file a police complaint against or sue them and they know it.

If it's just a simple exchange between fiat<>btc, better ask a friend or a relative outside the mainland to do it for you, if it's day trading, find a platform that doesn't care about the rules and says that upfront.

Quote from: mk4 on September 26, 2021, 10:29:32 AM

I wouldn't be surprised if the Chinese government would commit entrapment by pretending to be a bitcoin seller or something.

I would be surprised if a lot of countries are not already present on all platforms with accounts and doing trades, probably some have managed to get mediator status.Localbitcoins, 2014. I doubt that they haven't infiltrated all p2p exchanges in 7 years.

pergola

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Quote from: bk201-xyz on September 26, 2021, 10:16:24 AM

VPN does not help, because providing transaction services may go to jail
Once the exchange of CNY and USDT becomes difficult, most Chinese people will be excluded
The cause of the current panic is the exchange problem between CNY and USDT

Too bad, if you guys use DEX is it legal in China?
I noticed Huobi has made an official announcement about removing all users from China. The value of HT and Bitcoin has decreased, DEFI tokens have increased in value.
If the Chinese government is really tough on bans, how will they penalize crypto traders?

calchuchesta

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I remember the PBOC FUD from back in the day. While these were non-events other than short temp crashes, this one has a bigger impact since it smokes the entire Chinese trading scene, unless you want to risk getting the chinese KGB knocking on your door trying to circumvent it. So im assuming anyone with enough resouces is going to flee borders into somewhere where they are free to trade. Otherwise forget about it. This may be what makes the price crash below the 200MA and you have to add in the Evergrande clusterfuck which will have global contagion. A good time to buy a massive dip at any rate.

bittraffic

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Quote from: Beparanf on September 26, 2021, 07:55:19 AM

Quote from: stompix on September 26, 2021, 07:25:09 AM

- title describes the situation as "FUD"
- content says everything has become illegal

Contradiction much?
I don't understand this addiction to call everything FUD.

No, it's a damn FACT! It's as real as it can get, the PBOC has issued this notice which as fucked as it might be in China has the same power as the real law issued by the parliament in other states, and unless anything changes yes, cryptocurrency have become nearly illegal, the only thing not punishable is possession.

But!
Nobody cares about it anymore, I've been saying for years that after the fake volume exchanges have fled the country with their bogus numbers, China accounted only for mining and mining gear manufacturing (although the chips are made in Taiwan), nothing else.

So, no, it's not FUD, it's pretty real but nobody should give a damn about it, and the markets say the same thing!

Finally. Yes this is damn fact but many crypto influencer keeps denying it and posting that it was just FUD to hype there followers to don't panic and keep buying instead of educating what's true and explain as you said above so that people will not panic. These shitty crypto influencer make things worst instead of helping the community in an organic way. The result was more FUD if people discover that news is indeed true that China is tightening there campaign against crypto.

It's because China had been reviving news every time since 2017 about this Crypto ban and because it's making investors panic that price is also sending it down. The Chinese people seem to be laughing at the result. This could be a joke to them actually, the same joke as the shirt printing company in China where the employees in the company are packing newly printed shirts saying "Boycott China".

If this isn't a FUD, then it's true. But I wouldn't be surprised by another crypto news that will still affect investors, especially because China has Chinese exchanges still running, and there are big altcoins companies like NEO, VECHAIN, and even Polygon.

bk201-xyz

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Quote from: mk4 on September 26, 2021, 10:29:32 AM

Quote from: Jawhead999 on September 26, 2021, 07:28:24 AM

DEX is the way for those countries banning Bitcoin, take a look of Bisq and hodlhodl. Have you completed KYC on centralized exchange you using it before? you need to use Bitcoin mixer to hide your tainted coins, so you couldn't get traced.

Seems to be a solution; but honestly if I was in China, I probably wouldn't risk it. If the usage of non-custodial platforms gets enough publicity, I wouldn't be surprised if the Chinese government would commit entrapment by pretending to be a bitcoin seller or something.

Yes, all Chinese exchanges are KYC
Illegal trading of virtual currency may freeze bank cards

mk4

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Quote from: Jawhead999 on September 26, 2021, 07:28:24 AM

DEX is the way for those countries banning Bitcoin, take a look of Bisq and hodlhodl. Have you completed KYC on centralized exchange you using it before? you need to use Bitcoin mixer to hide your tainted coins, so you couldn't get traced.

Seems to be a solution; but honestly if I was in China, I probably wouldn't risk it. If the usage of non-custodial platforms gets enough publicity, I wouldn't be surprised if the Chinese government would commit entrapment by pretending to be a bitcoin seller or something.

Apocollapse

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Quote from: bk201-xyz on September 26, 2021, 10:16:24 AM

VPN does not help, because providing transaction services may go to jail
Once the exchange of CNY and USDT becomes difficult, most Chinese people will be excluded
The cause of the current panic is the exchange problem between CNY and USDT

Panic? No one's panic except weak hands.
+1.8% in 24 hours, -9.28% in 7 days it's really normal volatility in Bitcoin.
Look Bitcoin chart in 2018 that's a real panic.

bk201-xyz

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Huobi exchange clears all Chinese users
https://www.huobi.com/support/zh-cn/detail/54886961978434

bk201-xyz

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VPN does not help, because providing transaction services may go to jail
Once the exchange of CNY and USDT becomes difficult, most Chinese people will be excluded
The cause of the current panic is the exchange problem between CNY and USDT

Beparanf

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Quote from: stompix on September 26, 2021, 07:25:09 AM

- title describes the situation as "FUD"
- content says everything has become illegal

Contradiction much?
I don't understand this addiction to call everything FUD.

No, it's a damn FACT! It's as real as it can get, the PBOC has issued this notice which as fucked as it might be in China has the same power as the real law issued by the parliament in other states, and unless anything changes yes, cryptocurrency have become nearly illegal, the only thing not punishable is possession.

But!
Nobody cares about it anymore, I've been saying for years that after the fake volume exchanges have fled the country with their bogus numbers, China accounted only for mining and mining gear manufacturing (although the chips are made in Taiwan), nothing else.

So, no, it's not FUD, it's pretty real but nobody should give a damn about it, and the markets say the same thing!

Finally. Yes this is damn fact but many crypto influencer keeps denying it and posting that it was just FUD to hype there followers to don't panic and keep buying instead of educating what's true and explain as you said above so that people will not panic. These shitty crypto influencer make things worst instead of helping the community in an organic way. The result was more FUD if people discover that news is indeed true that China is tightening there campaign against crypto.

dansus021

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to be honest china always make fud when bitcoin reach new ATH, i think there is website that record all the fud. i dont know why. maybe china fud so whale can buy in the dip or something else

for me itself i am already tired with this Cry

it will be great if they are really banned but after that market going to normal rather than Up -> Fud -> Down

LFC_Bitcoin

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Nothing a foreign bank account, a VPN & an account on a European exchange can’t solve in all honesty.

Jawhead999

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DEX is the way for those countries banning Bitcoin, take a look of Bisq and hodlhodl. Have you completed KYC on centralized exchange you using it before? you need to use Bitcoin mixer to hide your tainted coins, so you couldn't get traced.

Quote from: NotATether on September 26, 2021, 07:11:26 AM

I guess using VPNs to access the exchanges isn't going to help you guys, is it? Sad

There's a problem if the exchanges ask KYC, he will know OP come from China.

stompix

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Blackjack.fun

- title describes the situation as "FUD"
- content says everything has become illegal

Contradiction much?
I don't understand this addiction to call everything FUD.

No, it's a damn FACT! It's as real as it can get, the PBOC has issued this notice which as fucked as it might be in China has the same power as the real law issued by the parliament in other states, and unless anything changes yes, cryptocurrency have become nearly illegal, the only thing not punishable is possession.

But!
Nobody cares about it anymore, I've been saying for years that after the fake volume exchanges have fled the country with their bogus numbers, China accounted only for mining and mining gear manufacturing (although the chips are made in Taiwan), nothing else.

So, no, it's not FUD, it's pretty real but nobody should give a damn about it, and the markets say the same thing!

NotATether

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Quote from: bk201-xyz on September 26, 2021, 07:04:28 AM

2021 Year,
It is illegal for the exchange to provide services to the Chinese！
There is a high probability that there is no way to bypass

I guess using VPNs to access the exchanges isn't going to help you guys, is it? Sad

bk201-xyz

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2017 Year,
China banned fiat currency trading virtual currency，
BTC ->CNY and CNY -> BTC, Illegal trading on the exchange.
However, user A and user B can seek guarantee from the exchange, and user A transfers money to user B.

CNY(UserA) -> USDT(UserB)，USDT(UserA) Exchange Buy BTC, ETH,...., OK
BTC(UserA) Exchange Buy USDT, USDT(UserA) -> CNY(UserB) OK

2021 Year,
It is illegal for the exchange to provide services to the Chinese！
There is a high probability that there is no way to bypass

--------------------------

Translated by google, I don’t know if I can express it clearly

Topic: 【I am in China】About China 2021/09/24 FUD (Read 368 times)