Bitcoin Forum

In Chineses bitcoin communities, it is rumored that China will also ban all the bitcoin exchange in Hongkong too.

Bitfinex is in Hongkong and currently dealing with over 20% volume of the world.


I just hope this is just another rumor, but if you remember how China's ban of bitcoin in the mainland turned out to be true.......

Clearly, it is not the best time to buy more.

Source? Why create a topic without naming the source?

its always a good time to buy

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more fud for the fudgod

I hard that China ban bitcoin 3x time in crypto history. But end of the time they unban bitcoin because of future crypto currency. Hope this time will be same thing happen.

China will never ban bitcoin. as much as they fear capital flight, China loves capital inflows just as much. given that China is the majority of the mining scene, they would lose a ton of advantage if they flat out banned bitcoin. but, they are doing a great job manipulating the price with these vague announcements. everytime we are here, we are reacting on unsubstantiated rumors; its like China is wary to give formal announcements, or they have a worse leak problem than the current White House ;D

it wouldnt be odd if they shuttered all bitcoin exchanges, and at this point it shouldnt have too serious of an effect on the price. thats old news, even if they close everything down. they havent banned peer to peer exchange, and its only a temporary thing. hopefully, the panic has subsided, but we will see.

Interesting. The FUD is really reaching critical mass here. There are definitely mixed opinions here. Some well-connected people, like Bitcoin Association of Hong Kong President Leonhard Weese, think the ban will drive businesses to Hong Kong and other neighboring countries like Japan and South Korea: https://cointelegraph.com/news/chinas-stricter-bitcoin-regulations-will-strengthen-hong-kong-market

If restrictions like this were to be placed on Hong Kong, then whatever is happening is far bigger than Bitcoin. In that case, they are making a move to crush the shadow banking sector entirely, and massively restrict capital outflows in the process.

As for Bitfinex, they are legally structured as a British Virgin Islands company, despite having some operational base in Hong Kong. They have stated that the exchange ban has no effect on them: https://twitter.com/bitfinex/status/908397018728595456

If they will ban all the exchanges then the exchange owners will just go overseas and they will transfer the location of their exchange into different place where the country is not banning or a country that has no laws about banning exchanges and cryptocurrency. It is sad that the biggest contributor of bitcoin is now banning bitcoin on its country.

it's just their tactics to lower bitcoin prices, when bitcoiners sell their coins because of their country's prohibitors and lower prices there they invest in buying and making bitcoin announcements no longer banned

If only it were so simple. Indeed, the ban doesn't seem to affect OKEX, Okcoin.com, BitMEX and other Chinese-facing sites that are organized outside of China on non-.cn domains.

But the bigger problem is that by making it cumbersome and difficult to buy BTC, investment will be stifled. Chinese residents will need to obtain BTC to deposit to these sites. It was much easier when they could just link their Alipay account to Okcoin.cn or Huobi and deposit CNY in 30 minutes.

bitfinex is domiciled in the british virgin islands these days.

hong kong has a completely separate legal apparatus compared to the rest of china so okcoin.com and the rest will be fine. but as bitfinex has nothing much to do with hong kong any more it doesn't matter.

Never act on rumours as they will ruin you and you will repent later

China did not ban Bitcoin just the Exchanges.. and hopefully the HK news is fake.

I don't think this is a long-term play. Sooner or later they will lift the ban. They are just up to something.

tell that to the people who got out of mt gox in time. they only had rumors to go on. the rumors were true.

china block bitcoin it makes a bad effect for bitcoin prices, so bitcoin prices are now down. I hope the bitcoin prices go back to normal and increase again. because bitcoin is a good and profitable way to invest in the future  ;D