Is China still going to ban bitcoin exchange in China - page 3.

Persiville

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Quote from: TheCoinFinder on September 28, 2017, 05:14:16 AM

Yeah china's government is definite to ban their local exchanges till 30th september.
The goveenment has already issued regulations to exchanges that they should not accept new deposits or registrations on their websites.
The reason why ban imposed exchanges are still live in chaina is only for serving withdrawals to their clients.

Now i get it. I am also being curious towards the actions of Chinese governments upon banning cryptocurrency. For me it doesn't really makes sense that they will actually ban it permanently, and besides there are so many crypto users, traders and investors in that specific region and area, and still i was thinking that it wont be permanent ban.

mozillaspez

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Quote from: zzSunZZ on September 28, 2017, 11:57:48 PM

The Chinese government tries to ban outside non-censored internet, citizens with a little know how get around it easily.
You can't ban bitcoin. Banks could stop letting you use your own money to purchase bitcoins from places like Gemini or coinbase, but that still doesn't "ban" bitcoin. You can buy them from other people, withdraw cash from banks and localbitcoins.com
Your complete focus, before buying a satoshi, should be learning how to properly secure your bitcoins. Unless you want to invest in GBTC and pay a premium, it is imperative that you learn security before buying.

yeah this may be some temporary news because as far as I know china is the biggest support for bitcoin. As it has the largest trading networks which deals in bitcoin. China will never ban bitcoin because it surely will damage the progress of the country as bitcoin is one of the sources for progress of china.

Monnt

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Quote from: fedoralite on September 28, 2017, 05:31:30 AM

Quote from: Yaunfitda on September 28, 2017, 05:14:31 AM

We can't really tell. They have taken a step back in their decision. So for sure if they might have a change in heart once they found out that their decision was not for the greater good of the Chinese community. And might suddenly make a U-turn again and allow the operations of their local exchanges. We have to wait and see how things pans out.

Steps back will be done if there are protest will be happen on it but if there's no appeal sent to the chinese government came to their fellow mens then I think the law will be implemented but lets hope that there's nothing serious will be happen if this sad government dominating will step up so that fall will not came again on bitcoins.

I don’t believe that China will take action against bitcoin because China will face an unemployment issue in this case and it is not for the first time that China is angry on bitcoin. I hope nothing from China government side will be much hard towards bitcoin because Chinese will also protest against the government for their rights and their massive investment in bitcoin. I think China will finally take care of their citizens.

katiecbell

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Quote from: xaxistech on September 30, 2017, 11:23:48 AM

iCO's has been banned in China, but it is october 30th and there were going to be bad news about china and cryptos, but the price is only going up.. i dont know what is happening right now, it was like $4150 yesterday evening, and now it touched $4400 a few hours ago, i am very happy with seeing that the price is going up again, seriously, but i dont know what is really happening with China.

It doesn’t matters that what china is doing in his regions bitcoins are surviving without them and this is bitter for the Chinese they think bitcoin will be down without zero and it is up to 4500usd and this is not acceptable to them and they will feel sorry in future when the prices will be at 6000USD or more, so china should rethink about his decision.

Red Fish

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Bitcoin exchanges in China ban will not affect Bitcoin market, because there are thousands of Bitcoin mining rigs from the whole world, which make new Bitcoins. Plus there are also thousands of BTC daily users from the whole world, so Bitcoin China exchanges ban can not affect whole Bitcoin market. Keep in the mind, that large part of BTC users & miners come from USA. Grin

Bagaji

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I don't think such ban will not happen again and if it eventually happen, it will be on those exchange company that are not playing by the rule of their country which i think is hygienic for the success of bitcoin business in China.

Edrian

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Quote from: albertvert on September 27, 2017, 07:18:07 AM

Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

Their are chance for China to ban .Because they start to get fear about that the bitcoin will reach the peak and Replace their own currency. Due to this fear they stop to ban some of the trading done in China.But now bitcoin replace his own price. It now crossed the value of 4000$.

I though it is a manipulative and strategic way of China in making some value more advantageous on there side. They are clearly manipulating the market because they will soon create something similar to a crypto that can be called there own. China banned only those exchange that do not have a license yet, if some failed to comply with having one, then China will close it.

Bitcoin can never be banned in China, there are a lot of exchange in the internet and internet usage is not forbidden in that place.

China is certainly huge population of miner and trader, I think it will affect the market greatly, but it will not be detrimental to the future of bitcoin. Unless the allied country of China conduct a similar plan and action. They might have realize the risk that this crypto have imposed to the countries economic status.

novaprime

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Quote from: PizzaBTC on October 03, 2017, 03:23:37 AM

Quote from: Rastadon on September 27, 2017, 07:28:59 PM

Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

It will give impact tot eh crypto but that will be not significant as the pboc announced to shutdown the exchange sites. But the ban was temporary. If we will be facing the date and i believe the bear market will come for the crypto.

I don’t think so that China will commit such a mistake which China had made in the past by banning Bitcoin and other crypto currencies. In fact, China will happily invest in Bitcoin and will promote the use and investment of Bitcoin amongst their citizens. Moreover, China will take very much positive steps for making the best use of Bitcoin in his country.

I agree with you . China is a financial powerhouse and certainly will not miss this great market. If China has more strategies to help Bitcoin grow, then surely Bitcoin will be legalized in this country.

PizzaBTC

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Quote from: Rastadon on September 27, 2017, 07:28:59 PM

Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

It will give impact tot eh crypto but that will be not significant as the pboc announced to shutdown the exchange sites. But the ban was temporary. If we will be facing the date and i believe the bear market will come for the crypto.

I don’t think so that China will commit such a mistake which China had made in the past by banning Bitcoin and other crypto currencies. In fact, China will happily invest in Bitcoin and will promote the use and investment of Bitcoin amongst their citizens. Moreover, China will take very much positive steps for making the best use of Bitcoin in his country.

frowsiter

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Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep

Will it affect on cryptomarket

They are already closed and almost every exchange will be invalid after tomorrow onwards. I don't think any of them will stay online anymore unless and until the government of of china will be making any further decisions. If the China's regulation fit in just right then ICO might be overwhelmed and world will have great response towards the big investments. Then this could be new revolutionary way of investing and prices of ICO will be legitimately high. But who knows if the Chinese have decided to shut the program completely then that might be happening more. Nothing much will happen and we can see the market more stable and non fluctuating as china was use to be destabiliser according to my experience. At least that's not gonna happen now.

xaxistech

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iCO's has been banned in China, but it is october 30th and there were going to be bad news about china and cryptos, but the price is only going up.. i dont know what is happening right now, it was like $4150 yesterday evening, and now it touched $4400 a few hours ago, i am very happy with seeing that the price is going up again, seriously, but i dont know what is really happening with China.

Crypto Carl

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ss890

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Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

Whatever effect it had it had last to last week only. The price of bitcoin dropped like crazy and this was becuase cryp lovers got crazy and panicked and they started to sell off their btc. Anyway what happens after tomorrow is completely new thing. There good be two things that might happen, first will be every dime of bitcoin will be washed out from the china and secondly government china might just publish new ways of regulated ICO leading to huge investment and pumped price of bitcoin. That's easy.

Netnox

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Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

Right now, the prices seems to be going up. During the past 24 hours, the prices have increased by at least 5%. This may be due to the fact that there is no large-scale sell-off among the Chinese users. The users have simply moved their coins from exchange wallets to personal wallets.

InvoKing

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BTCChina Has Stopped Accepting Fiat and Crypto Deposits, Trading to Stop September 30

https://cms.btcchina.com/notices/1-5?lang=en

After carefully considering the "Seven Regulatory Bodies' Announcement on Preventing Risks Associated With Token Fundraising" (http://www.csrc.gov.cn/pub/newsite/zjhxwfb/xwdd/201709/t20170904_323047.html), BTCChina has stopped accepting CNY and digital asset deposits, and will stop all trading functionality on BTCChina Exchange 12:00 PM (UTC+8) on Saturday, September 30th... [snip]

secone

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Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

maybe the global volume will be go down, but some people at chinese, now using localbitcoin.com to buy bitcoin. this is some proof of my statement.
http://www.newsbtc.com/2017/09/28/global-localbitcoins-trading-volume-reached-new-time-high-two-weeks-ago/

Cmoh

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What are the Chinese exchanges for Altcoin trading and Bitcoin? If banned effected is that possible that our funds would be collapsed? Currently my funds in Poloniex and Bittrex. So if anybody knows that are these two of exchanges is Chinese based then confirm me, so that i can withdraw my fund earlier. Also post here the list of Chinese based exchanges.

Strongkored

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Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

The effect of this news has happened a few weeks ago, and if you look to the current price of Bitcoin it starts back to $ 4000 even today it's $ 4200.

I think the decision to shutdown the exchange in China is only temporary, because China regulator need to create regulations that protect their citizen.

coinplus

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Quote from: gilangIDR on September 27, 2017, 08:11:13 AM

Quote from: albertvert on September 27, 2017, 07:18:07 AM

Quote from: Nikhilk on September 27, 2017, 07:02:12 AM

will Chinese exchange platforms shutdown on 30 sep
Will it affect on cryptomarket

Their are chance for China to ban .Because they start to get fear about that the bitcoin will reach the peak and Replace their own currency. Due to this fear they stop to ban some of the trading done in China.But now bitcoin replace his own price. It now crossed the value of 4000$.

I also believe that one of the reasons for China is that they fear if bitcoin is growing rapidly in the country. It could be that bitcoin replaces the local currency and destroys the conventional economic system. The decision of china will greatly affect the bitcoin price, I think that on September 30th there will be more panic for bitcoin users. It is feared that the price of bitcoin can go back down and of course this is not the hope we want. The only way is to be calm and tell everyone that do not sell bitcoins simultaneously. If this can be overcome then the price of bitcoin may stabilize and also rise above 4000 $.

Honestly, if anyone wants to panic at this moment, their loss! It might draw us back but it sure won't stop some of us from buying at good price again. All I know for now is that even if it is going to ban a bit impactful, the impact will not be as bad as what we had the last time. Most people are beginning to realize that panicking will only make them to lose eventually rather than concentrating on the development of bitcoin with or without china.

Bibox

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Well, its been banned already including two largest cryptocurrency exchange platform OKcoin and huobi.com.

But, OKCoin's co-founder reunited the team and created Bibox.com to keep trading out of China market.

www.bibox.com. A great digital asset exchange platform that you shouldn't miss.

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