Bitcoin Forum

if it's closed forever.
What  we can sell bitcoin using Paypal ? ( For citizen from China )
If we can sell bitcoin pair with Paypal , how can do it ?
I think this is a silly idea because of the conflicting nature between cryptocurrency and paypal.

Cryptocurrency : Decentralized
Paypal : Centralized. in government supervision.

Selling Bitcoin for PayPal funds is rarely a good idea (for both the buyer and the seller). The Bitcoin seller runs at risk of getting scammed via chargeback, the buyer runs at risk of having their PayPal account frozen.

I guess once the Chinese exchanges shut down the only way for the Chinese populace to trade crypto-currencies would be by finding western (or other non-Chinese) exchanges that are willing to accept Chinese traders?

so many  people  owns  BTC ,   these ppl have good knowledge  about  the world  ,   close  exchange  means nothing  in long term

Closed exchanges are significant long term. Might just be one country(China), but lets not forget how big China is(roughly 4x the population of the United States). Yes, bitcoin will surely live on with or without China, but if I remember correctly China has decent adoption in the past in terms of Bitcoin usage, and also China has a significant number of miners. So without China, it will definitely slow down the adoption of bitcoin a bit.

China does not like cryptocurrency, because they cannot control it effectively and it is a way for Chinese people to get money out of the country. It is similar to how they block and filter the internet - they can only view what the elitist politicians want them to see. I think anybody familiar with bitcoin would see that it is very easy to avoid the block but it may still be difficult to cash out.

The exchanges took the decision to close their exchanges without the government ordering anything. If the Chinese actually appreciate bitcoin and see it more then a way to make money then I'm pretty sure we will soon start seeing new projects and P2P trading platforms and again, that service the whole community, the more decentralized the network and services are, the better. As for trading for PayPal or anything else, there is Paxful, Localbitcoins or the forums.

The Chinese are moving to telegram groups and will trade P2P. That looks like their only option as it appears access to foreign exchanges is being shut down too. Maybe they'll finally innovate and come up with a bitsq that everyone wants to use.

I'm not surprised the exchanges are closing for RMB, I am surprised they're appearing to attempt to put everything to a halt.

they'll anonymously trading their bitcoin and paypal balance, maybe bypassing the system by doing some sort of transaction manipulation. but I'm pretty sure that the chinese bitcoiners will just sell off their bitcoin offshore and get their dollars, and then they'll be able to exchange their dollars to chinese yuan afterwards. such a simple step for me. unless some exchanges deny to give their service to chinese.

that's also a big reason why china will also think about this actions people around crypto are already huge in terms of populations so the demands
will force the government to find another way instead of full closure as mention also here inside the forum that they only wants to control the decentralized
exchange to prevent damaging their economy.

OP must be does not know about Paypal did not accepting any payment related to cryptocurrency.

Let me tell you something,a few days ago before they(Chinese goverment) banning their citizen and exchanger to trade Bitcoin.Paypal allow you to do the trade in public ? No!
they will not do any transaction if you use their service for sending the money to pay/buy related to cryptocurrency.
it has been a few months since they declared it and until now many people still doing this right ?
based this alone you should know the answer.
why would you care about it? while you still can do it privately,as long as you do not do it openly you can do the trade even though they banned it.
that is why a lot of platform based on Peer to Peer(P2P) existed.
they know something like this will happen and that is why they opened it.

The Chinese government imposed a ban on exchangers, everyone panicked because China has 20% of the trade.
I read a story that this is only temporary and at the end of the month the Chinese Government will reactivate,
I do not know if I do not want to focus on this issue then make bad decisions.
Without China Bitcoin alive.

If we are talking on its contribution or influence on bitcoins adoption i would say that China does really have the power but even if they would able to close exchangers forever then it does really give an effect but wont be the reason for bitcoin to die or decline.It might slow down the adoption but we can still stand without them and regarding on op's queries its a possible way on transacting by using paypal but somehow risky.

it won't be closed forever. some exchanges are closed, there is still localbitcoins and any other Chinese version of it are available.

you can sell bitcoin for anything.
for cash, paypal, gold, car, a house, a boat, ... as long as you can find someone else who is willing to trade with you.

so the questions should really be how you can find or convince someone to accept Paypal since nobody trusts Paypal transactions because of their charge back.

Localbitcoins will be toast as soon as they get around to it there.

The biggest Chinese only equivalent, Bitkan, shut down last week as well. I don't know about this protocol level shuttering they're talking about, but it's easy to believe all the foreign trading sites will be blocked too.

There is no doubt that recent shutdown of bitcoin trading platforms in china is temporary one and we might soon see new bitcoin trading platform with new bitcoin trading license and really huge tax owned by big bankers of china with new set of rules and intense monitoring. ;)

I don’t think so that this will affect bitcoins more because of following reasons:
1.   Bitcoins are now rising again in the world.
2.   They have retained their worth and value in the market.
3.   People are making use of bitcoins more than before for trading and investments.

no matter if china market will close bitcoin, bitcoin not only in china in other countries there are still many who want bitcoin, europe for example, in europe i heard bitcoin news already in legalkan.

OTC is still available I think for China. So if they want to still buy and trade bitcoin then its the best option for them. I don't think that using Paypal is a viable choice. No one can stop people from engaging in bitcoin so even if they choose to ban and close their local exchanges, Chinese will still find a way to trade bitcoin.

I don't think that your 3rd point is true, there's no significant usage to bitcoins after the mass closing down of exchangers in china, the value has now down a little bit compared to before the rumours about this spreading.
China's money are now moving to various countries with easy regulation about the usage of bitcoin, china has now lose its power basically.

I just hope so. They have already put a tighter regulations on them when they were caught doing fake volumes early this year so I don't know what regulations should be added to just let them go operational on the next coming months if ever they would be allowed by the government. My personal believe says that they are going to completely shut them off. Just my personal opinion.


Too much risk if you buy or sell using Paypal. Chances of a scam is greater if you used it. Its just sad to see what the government of China has done after enjoying it and made most of them millionaires. I'm not sure what options do the Chinese have but to go and leave the country if they really want to go full trading in bitcoin market.

1. China blocked the only yuan to BTC trading. No crypto to crypto trading has been affected so far.
2. From what I know Russia banned bitcoin as well at some point in the past. This ban might be temporary. We don't know yet.
3. When we have an issue with bank transfers not working earlier this year and some other problems with Chinese exchanges most Chinese trades moved to p2p trading anyway.
So I expect that p2p trading will be the way to go from on one, services like localbitcoins would be primarily way to exchange coins to fiat.

Now there is a 50/50 chance of closing because if china banned all exchanges it will affect their population because people will go to other country to continue their work so i think if it gets banned you can only do is OTC.