Oh Shit! - China bans Bitcoin yet again. This time for real. - page 2.

futile-resistance

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Quote from: MiddleFingerToTheMan on September 19, 2017, 09:44:43 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”.

JamesBolivar

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Quote from: DoublerHunter on September 26, 2017, 06:16:45 AM

Quote from: voztata on September 26, 2017, 03:44:27 AM

Quote from: LesterD on September 20, 2017, 06:35:09 AM

Quote from: sammrheza on September 20, 2017, 03:55:02 AM

really ? you think how many times china banned bitcoin in the past ? why people keep fall with same trap Undecided

just let them to what they fear of
they 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.

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.

That is right, there are still a lot of countries that could help bitcoin to become more successful in the future and china can change their decision anytime because if they will see bitcoin getting more mainstream and if they will realize that the countries that accepted bitcoin is also gaining good profits then they will change their position from against into supportive to bitcoin again and the price in that time will go up dramatically.

I doubt they will care too much about how Bitcoin is perceived in the rest of the world. The Chinese government only cares about control and power, not about its citizens. Just look at their internet censorship, which is completely insane.

DoublerHunter

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Quote from: voztata on September 26, 2017, 03:44:27 AM

Quote from: LesterD on September 20, 2017, 06:35:09 AM

Quote from: sammrheza on September 20, 2017, 03:55:02 AM

really ? you think how many times china banned bitcoin in the past ? why people keep fall with same trap Undecided

just let them to what they fear of
they 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.

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.

That is right, there are still a lot of countries that could help bitcoin to become more successful in the future and china can change their decision anytime because if they will see bitcoin getting more mainstream and if they will realize that the countries that accepted bitcoin is also gaining good profits then they will change their position from against into supportive to bitcoin again and the price in that time will go up dramatically.

voztata

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Quote from: LesterD on September 20, 2017, 06:35:09 AM

Quote from: sammrheza on September 20, 2017, 03:55:02 AM

really ? you think how many times china banned bitcoin in the past ? why people keep fall with same trap Undecided

just let them to what they fear of
they 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.

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.

raymart0720

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if china do that bitcoin will continue to work

it will have an effect about the behavior of coins but it will recover again many of countries still can use BTC in payments like what we are now

and because china is most influencer in terms of techs and stuffs like that

hopefully the rumors is not real that china tries to imitate what BTC have done

Casabrandy

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Quote from: Rajamuda on September 22, 2017, 01:55:16 AM

Oh bad news let alone this, well this really will make panicked many peoples to immediately decide selling bitcoin, no wonder the bitcoin prices look declining at this time. In my opinion.. it should us find out first more details about this news, bringing together information from various sources of information. Don't be too panicky about this, it could be just mere a issue.. we better still think calmly and don't hastily take action to sell it, who knows this is beginning of rising prices bicoin for the next.

I think the FuD and panicked were recovered already from this week, i think it will be fine for now that btc recovers from it in just a short period of time knowing how influential China is, meaning btc alone can really stand still even without China.

Rajamuda

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Oh bad news let alone this, well this really will make panicked many peoples to immediately decide selling bitcoin, no wonder the bitcoin prices look declining at this time. In my opinion.. it should us find out first more details about this news, bringing together information from various sources of information. Don't be too panicky about this, it could be just mere a issue.. we better still think calmly and don't hastily take action to sell it, who knows this is beginning of rising prices bicoin for the next.

kenkoy

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These are FUD made by Chinese Government. Is it confirmed? According to the article, it was a closed door meeting the company officials. They will crack down all bitcoin and Cryptocurrency exchanges. This already affected the BTC value as the price is still dropping now. Whi benefits this most? China has a lot of big investors and whales of BTC.

ZaoXhou

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I think it's becoming a little more substantial than just fud.

Biggapp

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Quote from: rodel caling on September 19, 2017, 09:35:55 AM

do you means bouble banned why china very angry about bitcoin currency its because china can't under the custody of bitcoin the china government want to regulate to control bitcoin for the government interest or whwt reason, don't worry guys bitcoin raised to other country as currency and many investor goes to invest in bitcoin.

For sure it would be fake news but if it is true even then the bitcoin will never get affected because the circle of the bitcoin is now so wide. Many new and more countries are now investing in bitcoin and they have the strong believe in bitcoin, if the china will ban bitcoin then the price may fell down but as more countries are now supporting bitcoin and it will never affect the price of the bitcoin.

MiBambino

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Quote from: bnkj76 on September 20, 2017, 06:29:02 PM

Quote from: MiBambino on September 20, 2017, 06:12:38 PM

Quote from: bnkj76 on September 20, 2017, 05:46:26 PM

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

They're already building their own national crypto coin, which will fail. The nature of crypto is that the gvernment has no say in it. Either they accept it and learn how to benefit from them, or they'll get destroyed. They might win a couple of battles, but the war is ours

bitcoin is supposed to be decentralized. yes. in theory.
yet, in practice, the mining is overwhelmingly Chinese operated.
furthermore, until recent cleanup, Chinese exchanges operators have been manipulating the price. They own the order books. they can manipulate it.

however, China has probably already developed or going to build a version of bitcoins that will be controlled by the central bank. it will be feel decentralized but it will be fully transparent, censored, and monitored by the central bank to prevent fraud and to prevent yuan from devaluating against it.

That's a solid theory. Bitcoin will indeed never be fully decentralized, whether it's the governments or giant whales that hold the majority, unless it goes up to 50K a coin, which would make it harder for whales to manipulate. Now, be that as it may, the Chinese might be able to fully control bitcoin in china, they don't have power anywhere else in the world. Let them control everything in their own country like they always have, I'll keep investing and making money

bnkj76

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Quote from: leopard2 on September 20, 2017, 06:38:41 PM

sure they can build a Chinese version of Ripple but people will not use that shit

in fact this will send a strong message, "you cannot have the real thing, BTC is the real thing, but you can get our shitty fiat or sandpit crypto lookalike" and make BTC even more desirable Cheesy

China has a great firewall to ban and censor all the traffics related to Facebook, Google, WhatsApp....etc.and has developed their own equivalent software for their own use with heavy censorship, WeChat, Baidu.
What's preventing China from banning bitcoins and develop their own bitcoins with fully censorship and Call it ChinaCoin?
It's not desirable to Chinese if bitcoins are banned just like Facebook or Google in the country with banned access to foreign exchanges or p2p websites without using VPN which is actively monitored by the communists

leopard2

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sure they can build a Chinese version of Ripple but people will not use that shit

in fact this will send a strong message, "you cannot have the real thing, BTC is the real thing, but you can get our shitty fiat or sandpit crypto lookalike" and make BTC even more desirable Cheesy

bettercrypto

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Isn't it the exchanges and transaction that were banned? Not bitcoin itself? Anyway I believe China is one of the country that see the potential of Bitcoin that is why they wanted to clean up Bitcoin exchanges and crack illegal activities that is connected to Bitcoin, so that when they come into a decision to freely accept Bitcoin in their country, they will be the first one to regulate Bitcoin perfectly but the question is, Is bitcoin can be regulated?

Oceat

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Quote from: davids on September 20, 2017, 01:52:09 PM

bad news continues but market not reacting that much with the many news about how China banning bitcoin. if they go, there will be other markets ready to make use of bitcoin they cannot stop bitcoin from rising

The market traders are all aware of this same strategy, they won't fall for it again. China is not the only country that can manipulate the fluctuation of bitcoin. There's a lot of Countries that can change the price because they have Whales in their country too. Those investors/traders on the market are keeping an eye on the price that's why they were aware of the China's strategy to try to manipulate the price again, but i guess it's not working.

bnkj76

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Quote from: MiBambino on September 20, 2017, 06:12:38 PM

Quote from: bnkj76 on September 20, 2017, 05:46:26 PM

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

They're already building their own national crypto coin, which will fail. The nature of crypto is that the gvernment has no say in it. Either they accept it and learn how to benefit from them, or they'll get destroyed. They might win a couple of battles, but the war is ours

bitcoin is supposed to be decentralized. yes. in theory.
yet, in practice, the mining is overwhelmingly Chinese operated.
furthermore, until recent cleanup, Chinese exchanges operators have been manipulating the price. They own the order books. they can manipulate it.

however, China has probably already developed or going to build a version of bitcoins that will be controlled by the central bank. it will be feel decentralized but it will be fully transparent, censored, and monitored by the central bank to prevent fraud and to prevent yuan from devaluating against it.

leopard2

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Quote from: RawDog on September 19, 2017, 05:14:55 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?

I would not be surprised AT ALL, if in 12 months more Chinese own BTC than today.

Chinese banned second child, Indian government banned gold & cash, US banned alcohol and banned cocaine, it all backfired ... today more people take opiates in the USA than ever before.

BTC doesn't give a shit Grin

Holy fuck, they even mine more than 50% of world's Bitcoin, it's like New Zealand banning sheep LOL

CarnagexD

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Quote from: Nawaytes on September 19, 2017, 05:52:11 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.

Yu are actually right, we could convince peoe to get involved in the wolrd of Bitcoin as cell as country because they may have their own Constitution and views about Bitcoin. So for me wevstiet bitcoin develop in the future by continuing our support and using Bitcoin as part of our transaction for future development and innovation.

MiBambino

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Quote from: bnkj76 on September 20, 2017, 05:46:26 PM

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

They're already building their own national crypto coin, which will fail. The nature of crypto is that the gvernment has no say in it. Either they accept it and learn how to benefit from them, or they'll get destroyed. They might win a couple of battles, but the war is ours

bnkj76

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i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

Topic: Oh Shit! - China bans Bitcoin yet again. This time for real. - page 2. (Read 3275 times)