Topic: Oh Shit! - China bans Bitcoin yet again. This time for real. - page 3. (Read 3330 times)

Bitcoin exchanges and ICO may currently be banned, but I'm sure Chinese regulators are in the process of developing new laws--meaning the ban will eventually be lifted.

next thing you know, NEO will develop a digital currency censored by the communist and used exclusively by the Chinese, just like WeChat, requiring your phone's number and your ID.

I guess it's just a scenario. so far we know that the Chinese government has never issued a permanent regulation, so I will not be hooked on such a thing.

ok guys, the crypto world was created to serve all the entire world. Lets not be extreme and say that people from China must be banned from Bitcoin.
Every one should and must use cryptocurrency to set itself free from the fiat rotten world BUT what I support is anti centralization from a country or market. That would mean falling again into old vicious economical behavior and we want to avoid  that,  right?

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 fact that China has done the "banning" of bitcoin is the reason that the market have not overreacted.

The only way we can know that we have lost a large part of the market is to wait and see if the price will go further down. It would need to crash further if the rumours are real.

I think it was an ironic statement. You can tell from the avatar of RawDog that he rarely speaks seriously. But this time he even put "How many times are stupid people going to care and fall for the same story? " to make it more obvious.

I'm sure many wise people took advantage of the situation and bought more BTC for themselves below $3,500. And I pity people who fell for the story and sold their coins at low price.

Stop making people sell.
That is why the price is going down.

It is not fair to punish the Chinese Bitcoin users for the policies of their government. The Bitcoin users in China are just ordinary people like you and me. They don't have any intention to hurt the popularity of the crypto-currency.

Or at least once Bitcoin forces them to change. The writer and "longshoreman philosopher" Eric Hoffer once wrote that "For the old, change is usually bad news." My guess is the banks will adopt rather than die once they figure out a way to make money from Bitcoin. Probably they will begin by offering crypto-wallet services. 
 

Theres a big difference, the JP morgan guys have more to lose than the CHinese government. The governments can tax people, use cryptocurrency to their advantage, whereas JP morgan loses billions once Bitcoin makes banks obsolete.

Remember that the level of misinformation about Bitcoin even in the West is very high. A few months back Warren Buffet publicly compared the mining of bitcoins to the printing of checks. In a comical and incoherent rambling rant Jamie Dimon called bitcoin a fraud worse than the (so-called) "tulip bubble" and that would be "shut down" -- as if it were a centralized entity, which he clearly thinks that it is. Think of it: the head of JPMorgan imagines that bitcoin mining -- the hashing of data -- is an activity that can itself be banned, by law, in the West! But it is probably also true that no one on the editorial staff of the Wall Street Journal is aware of Bitcoin's ability to immutably register data in a fast and cost-effective way. Imagine then the level of ignorance in the higher echelons of China's communist government! They too think it is inherently fraudulent and so must be "shut down." So, rolling up their sleeves, the comrades begin the straightforward and commonsensical process of sewing farts to moonbeams. The only question now is whether they will also (try to) shut down mining, a process which, like a lot of people in the West, the Chinese probably regard as secret, questionable, and sinister.

This is only temporary. Bitcoin exchanges and mining are just getting started in China.

mmm Well, I dont know but that banning seems to be not very likely. We all know what we heard and read from China is not always 100% true. Anyways Bitcoin is something unstoppable , it always find a way to pass through restrictions. Chinese people know about VPN and TOR so...

What would be interesting is the banning of Bitcoin mining in China, now THAT would be a game changer for the Bitcoin mining centralization

Time will tell

Yeah right. It's China, what should we expect? They will kill btc (in their dreams) multiple times like 2x a month so that they won't lose the spotlight. They just love seeing themselves in the headlines. And I swear this is gonna be the last time that I'll entertain news/threads that has "China" in it. Unless something interesting and worth pondering upon came up, which I'll bet is unlikely.

with this mentality we will survive even without this Chinese I really don't care about their decision which only prohibits their countrymen to invest
and to earned from crypto though they also getting a lots of income from the mining system as the maker did paid taxes.

It's not the end of the world. If you'd been around long enough you would have got used to this China stuff. Their exchanges were locked down for months in 2016. The regulators have been breathing down their necks for ages.

Who cares! without China bitcoin run very well. Sure, China is not greater than Bitcoin community. No one can stop crypto, its decentralized. If that is the case, people just going to find another way to invest their money. Bitcoin will go to the moon again and again.

For the first time I want to agree with you on this. They have a monopoly on Bitcoin mining and they misuse that advantage

to feed their greed. I thought some other country would rid us of these greedy miners and now it turns out that their own

government will block them. Double loss for them.... what are they going to do with all the surplus electricity? Who cares? 

Do not just believe in news without a basis. This may be fictitious so he can earn on traffic. This means that when you click on his link and visit here he earns money. So he's really desperate to make money even if something bad happens. And then whatever you do the bitcoins will not be overtaken by anyone. Because it is decentralized and can not be controlled by anybody

I guess if you live in China you would do the same thing. Anyways, I just make a half of my BTC into SHORT position. The chart is so bearish.. I think the price would touch 2600usd, or worse come to worse if the support breaks it will touch 1900usd. Then moon to 8k