Topic: Oh Shit! - China bans Bitcoin yet again. This time for real. (Read 3274 times)
let china want to ban ico as much as anything and as often as anything, bitcoin will keep growing even though there is no china, the proof is now bitcoin up l...
September 28, 2017, 11:54:07 AM
really ? you think how many times china banned bitcoin in the past ? why people keep fall with same trap 
just let them to what they fear ofthey dont know the history, they dont take a time to read what happens before in bitcoin. that is why they are all scared about the price fall of bitcoin.
September 28, 2017, 11:34:44 AM
And we are still unaffected. Thanks for trying to manipulate everyone here, but it has had zero affect. You can try to show people fear and it will result in nothing good for you. Keep trying, we are stronger than your weak spine and we will hold harder and faster than you can ever see.
September 28, 2017, 11:14:23 AM
Well, the true is that bitcoin hold it and it's going up again,
Have a nice weekend. But I know some Chinese government people and I have inside knowledge. Don't be surprised if you lose a shit ton of money on Monday or Tuesday next week. China is going to make the ban more detailed and more formal. Bitcoin price will fall big again early next week. Mark my words. sr. member
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September 28, 2017, 12:43:47 AM
Hahahahaha.
So funny!
China and ANY governments do not matter to Bitcoin anymore! Hahahahaha.
Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter. Bitcoin cannot be controlled.
On the opposite end of the spectrum the global fiat bubble system broke a couple of decades ago.
Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses
Bitcoin, systemically, is free from these burdens.
Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalksearch.org/topic/which-country-are-you-from-here-list-thirty-popular-bitcoin-countries-for-trade-1853019
CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping
https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/
So funny!
China and ANY governments do not matter to Bitcoin anymore! Hahahahaha.
Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter. Bitcoin cannot be controlled.
On the opposite end of the spectrum the global fiat bubble system broke a couple of decades ago.
Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses
Bitcoin, systemically, is free from these burdens.
Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalksearch.org/topic/which-country-are-you-from-here-list-thirty-popular-bitcoin-countries-for-trade-1853019
CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping
https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/
September 28, 2017, 12:39:43 AM
Well, the true is that bitcoin hold it and it's going up again, and even with all those announcements, the so called china's ethereum hold it good 2 and growing.
I think that we can look at this as a indicator that you just need to move the action to a country that accepts it (japan in this case and singapura for what i've saw is gaining terrain also) and everything will be fine.
It's that panic sell off that makes everything goes wrong.
And again...it's China, they do this with everything, and probably in a few weeks they will announce that they accept it again in they're conditions, exchange house under gov rules etc...one thing they love it to shake economies.
I think that we can look at this as a indicator that you just need to move the action to a country that accepts it (japan in this case and singapura for what i've saw is gaining terrain also) and everything will be fine.
It's that panic sell off that makes everything goes wrong.
And again...it's China, they do this with everything, and probably in a few weeks they will announce that they accept it again in they're conditions, exchange house under gov rules etc...one thing they love it to shake economies.
Correct. They seem to be trying to manipulate things in their turf though i don't think it's going to have the same effect now as the first time we've heard of the announcement. It's waning now and btc is again looking good streaking past 4k again
September 27, 2017, 12:24:23 PM
Well, the true is that bitcoin hold it and it's going up again, and even with all those announcements, the so called china's ethereum hold it good 2 and growing.
I think that we can look at this as a indicator that you just need to move the action to a country that accepts it (japan in this case and singapura for what i've saw is gaining terrain also) and everything will be fine.
It's that panic sell off that makes everything goes wrong.
And again...it's China, they do this with everything, and probably in a few weeks they will announce that they accept it again in they're conditions, exchange house under gov rules etc...one thing they love it to shake economies.
I think that we can look at this as a indicator that you just need to move the action to a country that accepts it (japan in this case and singapura for what i've saw is gaining terrain also) and everything will be fine.
It's that panic sell off that makes everything goes wrong.
And again...it's China, they do this with everything, and probably in a few weeks they will announce that they accept it again in they're conditions, exchange house under gov rules etc...one thing they love it to shake economies.
September 27, 2017, 11:00:43 AM
Sorry, you should not "burn" people to sell their bitcoin just because the news ; China banned bitcoin for real. I don't think it will give us a good effect, because without china bitcoin still run. CMIIW.
Yes it is , but well China is the most influencial contributor of the worldwide economy, given that fact yes they have a huge contribution in bitcoins proce but even though they already ban bitcoin in their country, as well as the transactions and exchanges happening there were all gone still bitcoin is slowly recovering from it depreciation in 10% imagine that, China has a huge investments in bitcoin, with or without them we can continue thats for sure.
September 27, 2017, 10:54:27 AM
Is it true again?
I don't think that China has declared Bitcoin for illegal currency
China has declared it illegal for everything. I don't think that China has declared Bitcoin for illegal currency
stop spreading lies. nothing remotely like that has happened so far.
what they did was 2 things:
- ban ICOs which are already either illegal or frowned upon in other countries
- close exchanges which have been working illegally.
September 27, 2017, 10:40:49 AM
Is it true again?
I don't think that China has declared Bitcoin for illegal currency
China has declared it illegal for everything. China hates Bitcoin. It means they can't continue to fuck their citizens out of the money they earn. Check 'currency devaluation' on Google. I don't think that China has declared Bitcoin for illegal currency
September 27, 2017, 06:42:05 AM
What is the matter if china banned bitcoin? I don't see any bad thing about it because that is normal for bitcoin to get rejected or ordered as a banned currency in a country and we still have a lot of countries for the market and a lot of people are still using bitcoin and still buying and it is not always only in china.
I agree with you. there are still many countries that use bitcoin. if china prohibits it it will not have any effect or anything bad happen.
September 27, 2017, 06:13:41 AM
Is it true again?
I don't think that China has declared Bitcoin for illegal currency, I believe that China government is trying to reallocate all of the capital of Bitcoin which captured by the Chinese people. so it takes a long time to be legal in this country. but, it is absolutely sure that China will give the green signal regarding allowing legal currency.
I don't think that China has declared Bitcoin for illegal currency, I believe that China government is trying to reallocate all of the capital of Bitcoin which captured by the Chinese people. so it takes a long time to be legal in this country. but, it is absolutely sure that China will give the green signal regarding allowing legal currency.
September 27, 2017, 05:59:42 AM
I don’t even know why anyone should be worried about China banning bitcoin. It’s just a one country out of many, so we can still achieve a lot without them. I don’t need to say it twice, cause you’re already seeing the return of the bitcoin price to a high value.
It may be one country out of many, but it is a very important country. As per the market stats, China accounts for almost one-sixth of the Bitcoin exchange volumes. And do you think that the ban will remain limited to China? What if the other nations take note of it and ban BTC within their borders as well?
Japan is regulating Bitcoin and the business sector is pouring money in, and the US is about to have fully-regulated futures markets on LedgerX next month, so I doubt it.
And global trading volumes are rapidly changing. A year ago, Japan wasn't even on the radar. Now they have the biggest volume in the world (albeit, some exchanges with zero fees, so there is likely additional churn). South Korea, too, is now becoming one of the top countries for trading volume, seemingly out of nowhere.
So even if the Chinese government is putting the brakes on exchange trading, it seems like those volumes are being replaced elsewhere. I'll bet some Chinese traders have already moved to Japanese and Korean exchanges.
couldn't have said it better!
September 27, 2017, 05:48:44 AM
I don’t even know why anyone should be worried about China banning bitcoin. It’s just a one country out of many, so we can still achieve a lot without them. I don’t need to say it twice, cause you’re already seeing the return of the bitcoin price to a high value.
It may be one country out of many, but it is a very important country. As per the market stats, China accounts for almost one-sixth of the Bitcoin exchange volumes. And do you think that the ban will remain limited to China? What if the other nations take note of it and ban BTC within their borders as well?
Japan is regulating Bitcoin and the business sector is pouring money in, and the US is about to have fully-regulated futures markets on LedgerX next month, so I doubt it.
And global trading volumes are rapidly changing. A year ago, Japan wasn't even on the radar. Now they have the biggest volume in the world (albeit, some exchanges with zero fees, so there is likely additional churn). South Korea, too, is now becoming one of the top countries for trading volume, seemingly out of nowhere.
So even if the Chinese government is putting the brakes on exchange trading, it seems like those volumes are being replaced elsewhere. I'll bet some Chinese traders have already moved to Japanese and Korean exchanges.
September 27, 2017, 04:54:38 AM
I though China learned the lesson that they cant stop bitcoin and nobody can.
China and others never had any delusion of being able to "stop bitcoin" ever. they have always known this. and whatever they did so far could only delay the inevitable and keep the growth smaller but the growth is happening and adoption is increasing.
i just hope people started to see this too.
September 27, 2017, 04:28:20 AM
Yep, that is right - China does it yet again. Bitcoin is now banned AGAIN!!! Quick sell your Bitcoin!!!
https://cointelegraph.com/news/china-will-heavily-crack-down-on-all-bitcoin-trades
How many times is China going try this same trick? How many times are stupid people going to care and fall for the same story?
https://cointelegraph.com/news/china-will-heavily-crack-down-on-all-bitcoin-trades
How many times is China going try this same trick? How many times are stupid people going to care and fall for the same story?
I though China learned the lesson that they cant stop bitcoin and nobody can. After the series of attempts including JP Morgan i will think this another ban will not affect the bitcoin anymore because most of the panic people before are already learned from the past attempts. The most affected of this ban will be the Chinese people who will be forced to reject bitcoin once again because of their government law in which they are oblige to follow.
September 27, 2017, 04:10:02 AM
I don’t even know why anyone should be worried about China banning bitcoin. It’s just a one country out of many, so we can still achieve a lot without them. I don’t need to say it twice, cause you’re already seeing the return of the bitcoin price to a high value.
It may be one country out of many, but it is a very important country. As per the market stats, China accounts for almost one-sixth of the Bitcoin exchange volumes. And do you think that the ban will remain limited to China? What if the other nations take note of it and ban BTC within their borders as well?
China is just overreacting before they come up with a way to regulate cryptocurrencies, this ban won't last. I bet my balls that they higher-up's in e.g., PBOC have notable BTC/crypto investments themselves, because they knew they could buy low after starting all the FUD. Don't be as deluded as to think that they'd be against getting richer than they already are, especially if it's basically risk-free and requires absolutely no personal effort.
September 27, 2017, 03:59:12 AM
I don’t even know why anyone should be worried about China banning bitcoin. It’s just a one country out of many, so we can still achieve a lot without them. I don’t need to say it twice, cause you’re already seeing the return of the bitcoin price to a high value.
It may be one country out of many, but it is a very important country. As per the market stats, China accounts for almost one-sixth of the Bitcoin exchange volumes. And do you think that the ban will remain limited to China? What if the other nations take note of it and ban BTC within their borders as well?
September 27, 2017, 03:46:59 AM
Well, let China ban everything 100 times, but they will continue using bitcoin by some other means. Meanwhile Japan is now overtaking and getting into this market fast, so who cares about what China bans and don't ban. Bitcoin is more than a country. They might have a huge contribution to this market, but if they go, there will be other markets ready to make use of bitcoin
Yes, still there are other countries that support, friendly with bitcoin. Bitcoin can not be banned by the country as long the internet connection is still there, maybe Chinese government just take the benefit of the rumors be made by them selves to get cheap bitcoin due to many people are panic selling with cheap price and they have bought them. 
September 27, 2017, 03:38:31 AM
This comes to mind now:
Nassim Taleb: "For bitcoin to make it, it needs to be banned by a few governments and critiqued by policy makers. Otherwise it will fade."
Literally exactly this is happening
I really don’t know what they are doing actually. China have to take some sensible actions that may lead to their success but whatsoever they are behaving, it will cost them. Reason is the future is about bitcoins everywhere and then China will have nothing other than “Crying over spilt milt”.Nassim Taleb: "For bitcoin to make it, it needs to be banned by a few governments and critiqued by policy makers. Otherwise it will fade."
Literally exactly this is happening
What they are doing is totally reasonable. The exchanges were operating as shadow banks... the biggest ones (Huobi and Okcoin) supposedly invested ~ a billion CNY worth of customer deposits, probably in debt instruments to facilitate capital flight: https://twitter.com/tuurdemeester/status/900027535450353664
So, I suspect that this was a "two birds, one stone" move. They want to bring exchanges under tight regulation (or perhaps even see them administered by the state). The issue is indeed capital flight, but not for the reasons that most bitcoiners think.
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