Bitcoin Forum

What will happen to the china based cryptos ?

All are dead and no more new coins and which ever have started now they have to dilute their funds or else they are going to face a law problems.

Worst case scenario, the company will be "sold" off-shore (outside China).  ;)

Stop with the FUD man! There are no apparent conclusions that the coins will be dead or the ban is going to wipe out the entire crypto-scene.Chinese government is just paranoid with the missiles flying from the North Koera and hence panic banning their un-taxed businesses.Jokes only!

Yes and the team will move to another country to operate the project from off-shores,well only on the papers.They all know how to do cloud computing. ;)

Yes, I think this is the best way to market closed in their country. By selling the company and reinvigorating the company, over time BTC and Altcoin market conditions will return to normal.

I think it will be gone, the new ICO has been shutdown and the exchanger will be shutdown, so there are no place for them to do the operational things, and the government really strict about the law, so I guess they will just closed down

They could easily reopen in Hong Kong.  8)

cryptocurrency is borderless, the only one affected is exchange platform that could be used for money laundering.  ICO was stopped due to people are using it as vehicle to collect money and use exchange to turn those token back to CNY.

The whole thing is trying to stop evil minded peoples to collect money from uninformed investors, and run away easily.

China based cryptos will no longer exist, there are ICOs being shutdown (as well as exchanger). The law was imposed and it is strictly imposed in the country, thus to continue their operation they may probably move to another country which cryptos are not prohibited.

In worst scenario they will move to other country but based on my understanding it's not completely banned they are restricting ico with proper proof and license if any coin having real working business model then there should not be any problem only pump and dump coin has to fear.

Their prices will tank seriously, then after a solution is found people will start buying back at the button. I don't like engaging myself in anything Chinese now. Chinese = trouble

well its obviously not good news for them and every bit of tiny bad news tanks the price in crypto lol

Most probably they are going to dive continuously, until such a time when their country will put in place some version of a new regulation that would somehow stabilize the situation regarding cryptocurrency and as well as exchanges in their country. Until then, the diving is going to be nonstop.

in my opinion if you can call something "China based coin" or generally if you can limit it to a country then it is already dead as a cryptocurrency project.
one of the main things about cryptocurrencies and all the projects involving the technology, is the decentralization. if you take that away you are taking away one of the main reasons they even exist!

Chinese Government would be required them to abolished it all upon lifting the ban. Most likely Chinese businessman and/or devs are not dumb enough not to have contingency plans. Though the effect of this scenario will not only affect the Chinese investors but most likely the whole investors in the crypto world. Not unless that these Chinese Devs will still continue to make their cryptos working under the radar of the Chinese Government, which they need to at least operate their businesses outside the country. This is not only to save their cryptos but also to minimize further damage to their company.

Hahahah saying NEO is dead? Makes no sense.

Are the tokens I have in binance exchange going to be okay or should I just send them to another wallet? Binance they say is a Chinese exchange but will it be affected? I have been with binance since they launched and find their services quite superb.

Nothing different from what was ever going to happen to them before this month. You should pay more attention to the news you read. Even the fake news and rumours say nothing about moves against China-based cryptos. ICOs are a different matter and arguably most are just tokens, not crypto. Exchanges are not crypto.

With the presence or absence of china participate in the crypto i think the crypto world will keep going and btc also alt will soon go to moon leave china  ::) :D

I think Chinese government did not shut down permanently , they just want to make policy against bitcoin in order to protect people from money laundry etc
I'm sure that Chinese exchanger can be operated once again in the future but with restrict term that have been apply by government

Is there any member of the forum living in China that could potentially shed some light on the subject ? that would be awesome

all of you saying that all coin based on china are dead, you need to shut you mouth for a moment as there are no statement about it. Everything are speculative and more are FUD, just think about it, prominent people/billionaire and politician in china was invest in crypto and in just one click thier investment are getting ripped off, do you thing they will let this happen? and you all down to your conclusion that coin based on china are dead. in addition their no statement coming from Chinese government that everyone who started a new coin will face law enforcement. As far as I believe China take this action as they see that the Cryptocurrency are getting more bigger and prone to scammers and fake companies. so they need to stop it to see whos the real deal to invest and they regulate it.

Agreed with you, China has taken few preventive measures due to some undisclosed reasons. As per me, China may lift all the restrictions regarding cryptocurrencies after the re-selection of president Xi Jinping in the upcoming meeting of the congress.

Maybe some will be dead or have already sold off all of their coins because of the news about china and the closing of the exchanges. And we'll never know this is just a temporary thing, nothing had been confirmed yet if this will be taken into action forever.

Off course every currency in the china might be dead by now. That's what will happen and has happened by now. I'm sure people might have gone crazy by now as they might be losing lots of investment they had. Just imagine if we had couple of thousands dollar and they are just lost within a night time then you can imagine what can happen to us. It's bad very very bad if it happens. China might be regretting by now about whatever happened and nobody will again trust it.

The Chinese government plans to make a state run exchange that only allows dogecoin 🐕

I guess,

They will be given more months time to settle down their bitcoin and transactions



Here is an yet another released today: https://coinpedia.org/news/huobi-okcoin-btcc-viabtc-will-stop-trading/

I don't think that the Chinese ban will affect the Chinese coins in anyway, I have read a lot people panicking that the Chinese coins will drop to zero and they ended up selling their Chinese coins. We should actually consider this crash as the opportunity to buy more Chinese coins. I bought recently some neo and qtum, since I have a believe that nothing will happen to Chinese coins. As you have already seen that they are already picking up on coinmarketcap, just hold.

If you follow crypto Youtuber's like Boxmining and others, they will tell you China will regulate and potentially allow cryptocurrency exchange in the future: https://www.youtube.com/watch?v=rIVKeaRXOpo

Why is the name of Xi Jinping dragged into the current discussion? The ban has always been believed to be temporary. There will not be such permanent law because the world is actually turning on the side of crypto. ICO is one instrument normally used by crypto in promoting a certain project.

I also think the ban is only temporary. They will re-open ICO and exchanges once they have finished the regulations.
If not, china based cryptos will only move to another place without a doubt

Not only youtubers but a lot of people are saying that the crypto will be allowed in the china as long as the crypto is fully regulated by the goverment. That will be true in the future.

I guess China will start to invest self exchange systems like waves and also TOR network coins.
They will not want to get caught so this china ban will start a new trend for TOR network coins.

They can rule their country and can close crypto currencies in their country, but they cannot control whole world crypto market. After some time, every thing comes to its normal position and market moving to its direction. Market already absorb that news and start moving upward direction.

It seams they started cracking down hard, I hear mining might face a problem, maybe just rumors .

they only want cheap price so they can stock more and they don't have any tricks anymore so they create rumor like this. i believe they will change their decision again in future

I think they are dead .

There is just a lot of FUD at the moment. With time things will get fine. Wait and don't panic sell into the deliberately created FUD. The ones who hold during this time will emerge out to be the winners. I am buying NEO, it just broke the trendline.

the announce btcc totally banned of the china government, the cryptos die in the china and according to news japan try to start mining, in this step dicision of japan is a big help to bitcoin to recover the price value.

according to me the measures taken by the Chinese government are only temporary!
The Chinese president wants to show that he manages everything because the elections are coming soon

That is not a smart move in my opinion. Many suffered  because of their idiocy. I am sure this did not have positive impact.

Are there any similar former cases where Xi Jinping recalled any decrete before? The damage done is looking rather permanent. Don't know what would be to regain by reopening Yunbi agains (as example)

Two possible SAR regions Macau features enough autonomy, too. That would be the quick fix. On the long term any crypto project that's sitting like a dead duck on one single spot is doomed sooner or later. They will see the money, they will want to grab that money, period.
Either branch out to several different legislation types, or perish.

even without china there's still lights from this crypto investment as mention japan are now considering to create mining system that will compete with
antminer not confirmed yet but for sure it will bring more investors and new comers inside crypto industry.

According to the reports and the latest news on the cryptocurrency situation in China, the cryptos are in the process of shutting down and closing them completely.
It's known at the beginning of this month China placed a law ban on ICOs as being the illegal form of fundraising. Currently these regulators are thinking over to put the much more integral ban on any trading platforms and exchanges. So, the China-based cryptos have really unfortunate prospect.

Now all investors and miner alerted to see China announcement, so now onwards nobody will support China based mining pools and cryptos. It is good to see that Japan immediately reacts with this issue and they are helping to bitcoin. Maybe next Japan will replace China, and they will take hold on Bitcoins.

not really of much to change as the different level of expectation as investors to put of decision as releasing distribution of funds
as following use of strategics on appealing the use of details as the customs on personal preference
to work with the release of displacement
to keep on secure with the running of terms with the projects plan as different developer to gives as customs on returns with the possession of
authority as showing the level of competence.

At present, China not only restricts and prohibits the circulation of crypto currency in its country, but also actively seeks ways to solve this problem in order to preserve the crypto currency, and that it will cause minimal damage to China's economy. As they do, we'll see in the future. However, it is too early to consider that the crypto currency will be unequivocally banned in this country. If this happens, then China will become an outcast for the world's crypto-exchange community, and its place in this market will be occupied by others.

I don't think China as intelligence as they are will allow it citizens to lose such huge amount of investment in cryptocurrency. Chinese investors has the best technology and software structure in cryptocurrency and I believe the government has it citizens at heart and that is why they are trying to stop the activities of scammers and fake ico project by providing a framework for how cryptocurrency should be use in China.

yes i agree with you i think that so that there comes a time that all crypto that is based on china will be operated we dont knowwhen it will be but i think they wont let that this crypto will totally gone in the currency.

Everyone knows china is a big factor in Crypto
But if they choose in the future to completelg
Close their doors to it there are plenty of other
Users in other countries so it will continue.

I hate how eceryone is thinking the worst at
this early stage in the China news and how
People are including exchanges in the worse
Case scenarios.

F
U
D