Bitcoin Forum

A lot of news came up today. I hope it's fake news but it seems not.
http://www.zerohedge.com/news/2017-09-08/bitcoin-crashes-massive-volume-china-plans-shut-local-exchanges (http://www.zerohedge.com/news/2017-09-08/bitcoin-crashes-massive-volume-china-plans-shut-local-exchanges)

9/14
BTCChina will close exchange after Aug30.
https://www.btcchina.com/ (https://www.btcchina.com/)

I just skimmed over the report linked above and I
think this is actually about the banning of the ICO's
but re-headlined to mention BITCOIN which will
actually affect the price S H O R T  T E R M

KEEP CALM PEOPLE, DONT PANIC

oh no sea of red here we go

another thread about china's moves against crypto currency I think more will come, news after news and weak holders will be eaten alive because of this
issue I'm sure those opportunist will take advantage and place a good buy walls for their supported project, play wisely guys.

All ready being announced as fake news by some outlets.

http://www.allcryptocurrencies.news/bitcoin/bitcoin-crash-of-8-september-due-to-fake-chinese-news/

Zero Hedge is pretty unreliable source.  They tend to go for clickbait drama and hyperbole instead of accurate reporting.  I'd want to see it from another source.

No names mentioned, no links to official sites, no links to serious news papers no evidence, no source mentioned... smells like fake news.....

Some famous local media in Chinese also issued the same news, such as sina, ifeng, and wallstreetcn.

I hope that the information about the closure of local exchanges in China is false. In addition, no information about the reasons for such an act. The infor- tion is either untrue to sow panic in the face of the ICO situation in China, or it is greatly exaggerated. The Chinese government does not intend to step on the crypto currency and fight it. It has always been loyal to her and supported her. Here something else.

Yes, I think the official announcement will be released next Monday, since this information has made the Chinese market panic and some red curves a few hours ago, but I think there will be new hope again.

I believe there is a high chance that the Chinese exchanges will be temporarily closed.

Investors should not forget that Japan is the only country with a clear legal framework for digital currencies...
Monacoin should be in every portfolio as a hedge.

This is typical of PBOC, "leak" the news right before weekend so it can be absorbed before the big announcement on Monday. Although the rumor is that they are going to ban Crypto-Fiat trading not Crypto-Crypto trading. We will see.

I hope it's not true because China is a very big market with a huge share of crypto-fiat trading. This would affect the whole crypto capitalization for sure.
The Chinese authorities seem to be complete control freaks, trying to ban anything they can't tightly control. It's definitely not good for people living in China.

Only a few of them are real, most of them fake news that has made the market unstable recently.

I have checked the new carefully and asked for my Chinese for help, they told me most of them were fake news since there was no official announcement about that, but we can check that on tomorrow.

Just misinterpretation of text used to cause FUD.

Nothing to worry about

Its all fud. We've been through this before all it does is bring the prices down for a month until everything shoots right back up to normal again.

if they close local exchange then there will be some effect on Bitcoin and Altcoins
Hope this new should be fake

Thanks
Regards

IMO, these fake news websites should be closed instead.  :-[

It will be some effects in publish moment. Now this effect will be leveled because most people are ready to this. Decentralization is basis of this.

following the different issue of news with the ICO ban that they might be experiencing use of the unmanaged situation as might of those with the people

to lives as the customs of homogenism on casuals.

the use of one of issue by the year of 2016 as the speculation on referring contrast on value with the returns of the work on finance investing, as the

stock market turned with the 50% drawing of down, as for several parts of their people those gives of unfair kinds of chance as attaining works with the

business as referring the customs of the homogenism of the communist culture.

Guess, its not fake. Bloomberg and WSJ backing it up https://www.bloomberg.com/news/articles/2017-09-11/china-is-said-to-ban-bitcoin-exchanges-while-allowing-otc-trades-j7fofh20

The main take away , crypto currencies are still legal in China, OTC trades are legal, dodgy ass chinese exchanges are NOT legal.

To all our Chinese brothers and sisters out there in the cryptosphere, seriously take a look at SuperNET's BarterDEX trading platform, it's still being made more user friendly with better wallets, but the tech already allows you to trade coins P2P without any need for an exchange, so afaik it would be legal in China.


https://supernet.org/en/technology/whitepapers/BarterDEX-a-practical-native-dex

Dodgy exchanges should be banned everywhere, P2P trading is the future, when the dust settles this will go down in crypto history as a good day!

For safe haven investments with the uncertainty in China, can I suggest you look at the coins / payments systems that will see growth in the next 4 weeks :

OMG - Asian focus and not China dependent. Real world use.

Metal - huge announcement rumoured to be coming in the next 3 weeks of international alignment with a major corporate. Huge real world use that could see it become the "survivor"

NEM - safe haven for Asian investors
 

 
 
 

China "banned" bitcoin a few times in the last years, they all've been campaigns to manipulate the markets, it still seems to be the case, always effective, someone is making a load of money on these rumors.

Today BTCChina said that they will close exchange at the end of this month. News said that more China local exchanges will be closed.

I'd say everything related to China is a big fat scam. Even if China banned anything, that would be good for the entire crypto world. Alot of shit comming out of China, Bitmain etc.

If this thing would really happen and all of those news then for sure we would really see a bad dip on here on bitcoins price but i do believe that they would enable it again for sure and i do really feel that they do have really plans on this such kind of decisions that they do made.Reds is really happening as of now not only on my bitcoin portfolio but also in my altcoins too which is really a disaster.

China at it again they must of sold all there coins at $5000 and are either looking to buy back or start there own coin.

What you said it's 100% correct. Some group of people are making a load of money by spreading this news in all over the world. This looks like one type of strategy to make money by fooling small traders and newcomers in this market. Who will take the sudden decision they all will lose their money.

maybe there are some people spread this news at purpose, but China will close all the exchanges indeed, the government release the news through the media for several days to let the market prepare and then announce it to reduce the impact, but there are some people still cant believe, then they may suffer big loss for their judgement

Yup China is doing everything to dominate this market and they have been successful in just a short week. For me many investors are selling panic in big markets because they fear BTC may return to the $ 2000 price.

btc-e will open tomorrow with many btc and eth. I think this is China trader trick to make btc-e user dump their coin.

It would be China's loss. Who don't want this billion dollar business?
Your crypto-currency investments may be affected in short term but in the long run it will go back to bullish. Don't make panic decisions.

Here is the news. I think China just again wants to intimidate that could derail the price, as it was previously. Those who bought bitcoin for$ 5,000, do not panic!

They known they don't panic but tomorrow many big trader will dump their coin. Then they can't control their emotion and panic sell. After all price will recover. Classic!

With Decentralized Exchanges like the Blocknet on the horizon - I don't think it's wise for the Chinese traders to exit the market.  When products like BLOCK go live in the near future, anyone across the world will be able to trade wallet to wallet trustlessly without worrying about having their coins kept on a centralized exchange that can be shut down by the government at any moment.

yes this is the end of this. this rumor has spread. news now about china and end closing ico and bitcoin.
this is a scenario to decrease crypto value. and the effect is to decrease the btc value.