Bitcoin Forum

Yep, that is right - China does it yet again.  Bitcoin is now banned AGAIN!!!  Quick sell your Bitcoin!!!
https://cointelegraph.com/news/china-will-heavily-crack-down-on-all-bitcoin-trades (https://cointelegraph.com/news/china-will-heavily-crack-down-on-all-bitcoin-trades)

How many times is China going try this same trick?  How many times are stupid people going to care and fall for the same story? 

Well, let China ban everything 100 times, but they will continue using bitcoin by some other means. Meanwhile Japan is now overtaking and getting into this market fast, so who cares about what China bans and don't ban. Bitcoin is more than a country. They might have a huge contribution to this market, but if they go, there will be other markets ready to make use of bitcoin

haha, i hope there will be more times they fall for the same story! and bigger even in the future. $1000 is not a joke. we got bitcoin $1000+ under-price because of these "stupid people". without them you would have been forced to buy bitcoin at a much higher price this month but they were kind enough to give you a great discount.

i'm just thankful for their existence. and fearful of their extinction which is inevitable.

Sorry, you should not "burn" people to sell their bitcoin just because the news ; China banned bitcoin for real. I don't think it will give us a good effect, because without china bitcoin still run. CMIIW.

I don't think it's smart to say "Quick sell your BTC". Did you already forget September 15th ?!

No matter what China has started to take bitcoin regulation very seriously compared to before where there were absolutely no regulations, so it would come as no surprise to me if this turned out to be true.

However, even if they decide to crack down on BTC trading they wouldn't have the means to simply monitor every p2p transaction that everyone does. There is no way for them to "ban" bitcoin. All they can do is ban centralized bitcoin exchanges, they cannot ban p2p exchanges at all.

It's not wise to fall for FUD like this.

My bids haven't been filled yet, we need more panic and more dumping, $2800 is the target, China bans no longer as effective as they have been in the past...

China will be China :D If they ban BTC or any Crypto so be it. I read an article where it actually says that Crypto is really strong in part of Europe and Asia is starting to adapt it. In terms of ICO, Chinese are well known to be fond of business and investment. I am pretty they'll make a way how to bypass any security measure just to explore and venture crytpocurrency /ICO. When this news first started, BTC went down, but I think holders learned the lesson hard because BTC is coming back stronger

As many times as long as theyll profit from it, bacause they can only ban ICO's and exchanges but the blockchain technology of bitcoin itself? Ibthink they cant stop it, chinese will just shift to decentralize exchanges using VPN's and other stuff. Just my cent.

the china panic is past. there's not much else they can do. most people would welcome the end of chinese mining. maybe there'll be an organic fall anyway,

VPNs also banned in China.

If they can't trade Renminbi with bitcoin easily, bitcoin will never be used at a relevant scale in China.

Some highly tech savvy people will continue to use, but no significant use can be achieved if bitcoin is banned.

What is the matter if china banned bitcoin? I don't see any bad thing about it because that is normal for bitcoin to get rejected or ordered as a banned currency in a country and we still have a lot of countries for the market and a lot of people are still using bitcoin and still buying and it is not always only in china.

Is a ridiculous story, i cant understand if it is a real notice or not.
Someone tell yes someone tell no
But i cant understand in which mode china can ban the bitcoin?

I am tired of this repetitive news, if the government want to banned please just banned it, so the price will fall down once and recover prefectly, dont keep on spreading the rumors and make the traders and investor worries and makes people doing panic sell and cause riot in every market

well, so far bitcoin is not banned and there is no plan or even indication of banning bitcoin so all these arguments are moot!

and while people are arguing over pointless FUD and discuss whether it is true or not and what will happen if... some sneakier people who know the reality have been accumulating cheaper bitcoin in bottomless their bags.

Again they base their news on anonymous sources. How can we know if the sources ever exist and aren't just an invention to spread FUD?

And if they exist, how can they know they are telling the truth?

Listen btc has one price and the market will even itself out. Its one asset that is truly an asset of confidence. Its price is a pure reflection of the communal confidence. What you must not miss out is that people make money when the price drops especially a certain prolonged drop which is expected with news like china bans all exchanges. If a btc owner sells at 1btc at $4500 expecting a nosedive then buy whn it steadily begins to rise again at $3500. then the btc owner has made $1000 profit. Now multiply that by 1000. If a group had government intel and knew this announcement was coming........ the more they rushed the market the higher the price got till .......Ok I got sidetracked, but the point is if price goes down people make money too.

Bottomline is there is a transfer of wealth when the prices move but bitcoin will stabilize, because it is (bruce lee voice)"like water" it has no border, boundaries. If you close one space it will flow into another.

I think it's just some group that try to gain the advantage for gaining profit by using Chinese ICO issue in order to scare people so whale trader able to manipulate their transaction for profit.


Japanese and South korean market have bigger market so IMO Chinese can't affect bitcoin market for now

I think they would learn their lesson and stop panicking and stop selling their coin when they heard some rumors going around,
They are just being played by this same old trick lets just wait and see how many people did fall in this scheme.

Is it likely that China will not in fact [Ban] Bitcoin, but "control" it, much the same way it does with other things. Think of how they essentially have blocked and allowed Google over the years - in favour of Baidu their own flavour of search engine that they can control [more].

Yes, in many statements from the China they never said we are banning Bitcoin but we are banning ICO in order to regulate them again. Still, long way to go because it depends on their economic growth because other countries all allowing their people for Bitcoin purchase and start thinking to regulate it.

As long as there is a lot of people that are involved in bitcoin trades they'll never get tired.


For this time, this will be the last.

It doesn't matter what China does, it might effect the value for a short while but it will rise once again, like it always does.

No matter how they try to spin the news, we have always expected it to happen this way and it still wont change the mind of believers like me and several others on what they need to do. This wont be the first time they will be coming to ban bitcoin and surely it wont be the last. Let them bring it as we are more than ready.

Whoever falls for this Chinese crap obviously need some deliverance. As a result of their stupid stunts, even traders have deemed it fit to shift to Japanese market which now remains the largest after US. According to cryptocompare, they are now the 4th on the list based on Bitcoin (BTC) Volume by Currency and they will keep going down until we see them no more for all we care. (https://www.cryptocompare.com/coins/btc/analysis/USD). No country can just wake up one day and feel they are indispensable. If they like, they should keep banning bitcoin until they have no news to give again.

Without China bitcoin will grow faster. Most Chinese are tricky, First, they fail with BCC to destroy bitcoin, next scenario they ban ICO, then they ban Bitcoin and then they ban internet at all. So the citizens will be out of date information and stupid that's why CHinse govt can easily control stupid citizens. IF I live in China I will migrate to other countries and never come back .

Bitcoin is still bitcoin even without China bitcoin will continue ,so i think we don't need to panic. Maybe it will affect for now, but sooner or late the price will come back again.

I think China is trying to scare investors and then take over the BTC as much as they can, and this is the battle of big organizations that are behind the whole market. Keep calm and make the right decision

Banned of china? the bitcoin? tsk.. tsk.. Do not trust them, they just destroy the bitcoin for when someone else is banned from it? they will no longer use. Then if china had banned the bitcoin? many country were angry to them. They are too selfish. So many are angry with them, because they feel strong? haha. Do not believe that news, that's not true, that's just a threat to china, they can not just banned it. Do not be afraid, bitcoin will not be lost because many people will need bitcoin help :).

People do forget easily. Just look around how the politicians win the elections :)
It's a sad truth and this same trick will get used over and over again until the number of people falling for it will decrease enough. As you can see, this will still have success for quite a while.


I expect that after the price strengthens a bit more somebody will pull out of hat the SegWit2x "the world is going to end" news.

Only chinese cannot utilize the bitcoins right. I check the price rate also, it is not fall down big when compare with the last time ban from China few days before.
Let China do their own wish, since Japan implemented world's largest mining rig worth of 20 million dollars will bump the price for sure. In future we may find the many adoption.

China is not the world. BTC could crash but it will rebound and ignore China after few months. Banning crypto in China will make the price on the black market much higher...

We should not be afraid of China's bam on Bitcoin because people will still use or mine by any other means.
Anyways Japan is quickly approaching towards taking over China so who cares about their ban .

Bring it on, I like cheap bitcoin!

Blockchain is an trendsetting technonolgy, so can not ban it forever. It is always the same:

first they ignore you then they laugh at you then they fight you then you win.

Exactly, and even they do that, many chinese people will stay with bitcoin, even they do that price will fall but will rise again to recover and even break the record since japan will take the lead for this technology this time. So keep holding and waut until japan totally help to fuel for the rocket going to the moon ;D

Again and again. Well, If it is true, I will convert all of my bitcoin into USDT so that I will have a chance to buy cheaper bitcoin. However, I think that people has already prepared for the next ban and therefore, it is hard for the price to be dumped as hard as the last ban. Bitcoin will stay strong for the next ban. Maybe it will fall about $500-600. Not $1500 anymore

I don't think china did ban bitcoin, they said they are banning ICO's and not bitcoin, it is only a fake news that are spreading, and that news has cause a storm towards the value dropping significantly, well I think we can say that the price is still fluctuating but this time going up, well we can really never see the real value of bitcoin but I am guessing it is stable in moving up right now.

Another negative news again. I will not consider that news.  It's not my problem if china will be doing some restrictions about BTC. Bitcoin will continue to spread without them.

 do you means bouble banned why china very angry about bitcoin currency its because china can't under the custody of bitcoin the china government want to regulate to control bitcoin for the government interest or whwt reason, don't worry guys bitcoin raised to other country as currency and many investor goes to invest in bitcoin.

This comes to mind now:

Nassim Taleb: "For bitcoin to make it, it needs to be banned by a few governments and critiqued by policy makers. Otherwise it will fade."

Literally exactly this is happening

So what is next, there would be another story that they will ban bitcoin for real?  Just let China ban bitcoin who cares.  Bitcoin has been here for almost close to decade right now.  Many people are into bitcoins.  It would actually be a good news for those who want to buy bitcoins.  Now is the time.  If they ban bitcoin many countries like Japan continue to use bitcoin for good.

Well if their plan is to try to get the price lower, so that they can buy cheap bitcoins themselves then it's not going to work again, because like they said, the price already reacted to those news, and most of the users went searching for a solution in Japan. I really don't think that's what they are trying to do now. First I don't think they will try to ban BTC or mining, since there are some news about that as well, where they seem to be considering to make mining illegal, which I think it's just FUD. I think they are just trying to gain some time to regulate crytpo, and at the same time, doing all they can to keep the BTC of their citizens in China.

The rest of the world is slowly accepting BTC, so they have to do the same, otherwise they will just lose the advantage they already have on BTC, and they will lose money if they do that.

Already I have lost all my money for such a stupidity. It does not matter if China Bans all Crypto with exchange.
There are thousand of Investors and users who lives on other countries. Hope BTC will Overcome this slimy Issues very soon.

Who told you to sell your coins? Now you can't blame Bitcoin for your losses. First of all, invest in a high risk asset such as Bitcoin only if you are capable of absorbing the losses. And secondly, panic selling is not a solution for non-stop FUD.

The recent surge in bitcoin shows that we can move without china also, even ukraine has legalized crypto and i guess next will be  Japan. This is just beginning man..wait and watch.

Price did not move that much, does this mean this news ain't that effective anymore? Anyway, if the price goes down again because of this, it opens opportunity to buy cheaper bitcoin.

You made a great point there and i am totally agreed with you.
Everyone focusing china because they have a huge share in the market but we forget bitcoin is much more than a single country and it's very hard to control the price of bitcoin No matter it's china or any other country.

what Chinese government should do is to create a legal framework in other to regulate bitcoin and others cryptocurrency within their country. Based on my understanding of bitcoin, the system is decentralized that is a country or countries cannot banned bitcoin! They can only create a system to regulate it use and acceptability within China.

china could not do same trick for bitcoin users, every thing about banning bitcoin from China will not give significant impact for bitcoin price. i just see the price of bitcoin on blockchain (where i saving my balance) that the current price more than $3950 it means china 's treat for bitcoin is non sense anymore.

I read somwhere that in China they banned trading.
This recipe comes into life 30 september.

Yes I too read somewhere that in China they banned trading of  bitcoin and China bans bitcoin yet again and this time for real and this one is fact are not.

All the chinese government wants is control. They want to be able to tax and track every single transaction, and if they can't do it, they'll try to completely get rid of it. Let them try, they might succeed but they'll lose a shitton of money when chinese investors take their money to other countries

Who gives a fuck about China? They may be big right now, but once the mainstream of the investor class jumps on the train it will become irrelevant.

If Bitcoin survives until 2020 no regulation will ever be able to stop it.

And in the meantime any regulation would simply make life a bit more difficult for the enthusiasts, and that's the worst case scenario.

It's too easy to trade cryptos entirely under the radar for anybody who is willing to invest some time into research... so there really is no stopping strong hands.

Cointelegraph has idiots working for them. They keep repeating this bullshit that this bankster had something to do with the last correction. Yea, right. Some guy whose bank stands behind everything that Bitcoin is against said he thinks Bitcoin won't survive. WOW! And I say your bank won't survive, we'll see in 10 years.

The blockchain was created largely to get rid of banks, so it's obvious they're not so happy with its currency marketcap reaching way into the 100 billions in less than 10 years. I love how afraid and desperate they are

Simple you can understand this mean as: " If I can not make money from this field, I will destroy it and nobody can receive profit from it 8)". This is the nature of the Chinese government.

really, I agree with what you say, very reasonable from the post above. china is no longer a scourge for bitcoin. if it really happens, get out of bitcoin. it's better than just being a pest to bitcoin.

And the nature of the chinese government is also 'if we can't beat them, we join them'. They'll come around as soon as they figure out how to regulate everything.

The fact is that to date we can be sure that the Chinese problem can and consider itself very quickly and all the Chinese functions can take Japan. Thus, in the near future we can get rid of the problems, and even more so today Bitcoin starts more or less stable growth.

Yes, the one thing we can be sure about is that if the Chinese give up their marketshare, a smarter country will take its place, they all want to jump on the bandwagon now that it's still going relatively slow. Blockchain is the future, like internet was 25 years ago.

Thank u China :D

If that is true, i guess, more of the investor doesn't care anymore about the news. Bitcoin now is much stable than last week, it means everyone doesn't care anymore.

There is nothing more to worry about that.Bitcoin has already recovered from the fall occurred as a result of china banning ICOs and regulating bitcoin exchanges.Most of traders have shifted towards japan's bitcoin exchanges where regulations are low.The only people who have to worry about is the chinese who have enjoyed great profits from bitcoin in the past and who had dominated the bitcoin world previously.And now,thanks to chinese government's actions,bitcoin is now totally independent of china and its good for the progress and retaining the decentralized nature of mining industry of bitcoin.

I still think caution is advised. China is a massive market and it'll take more than a few days to recover. On the surface it might seem OK but I wouldn't put my money on it

The market right now is not reacting that much with the many news about how China is carrying its policy of banning Bitcoin exchanges and the holding of ICOs in its territory. I am hoping that they will not extend the same policy towards Hong Kong where many Chinese can transfer their cryptocurrency business and involvement.

The bad news kept on trickling in and the media is getting to be interested with those news as they know that millions are following the latest Bitcoin news from around the world. The market has already discounted the China ban and may not be causing the great retreat which happened last week but this can make Bitcoin stay put within the vicinity of $4,900 - $4,000 for now.

Next month which is October we might be seeing some respite for Bitcoin before going into November which is the scheduled fork month which may not affecting Bitcoin that much because we already saw what happened in August.

Long live, Bitcoin!

Why should we sell our bitcoins?
I think it is only you who is afraid of banning?

 Don't worry of the problem in banning it is not your problem
It's bitcoin's.

China, has a problem that we don't know that's why they
Keep banning bitcoin.

Maybe there are hackers that is initiating china's information
Or weaponries by using bitcoin.

I don't think so that China will ban bitcoin easily with just
Minor problems, maybe there is a real and serious problem.

Wise, whales keep on buying bitcoin, because this is their advantage.

The Chinese government will fail miserbly, given bitcoin's decentralized nature. This is clearly an overreach by an insecure government if true. On the other hand, the article linked to lacks sources and seems to be based on rumor or speculation. In any case, the Chinese government, like any other government, will fail in any attempts to prevent the use of bitcoin.

I agree with you although they (china) banned bitcoin in fact it will not bring down people's interest in bitcoin, am I right ?


Or maybe they want to make their country like north Korea? not everyone can access internet in north Korea. I'm not sure ::)

a decentralized system doesn't care about china, bitcoin will be better without china

really ? you think how many times china banned bitcoin in the past ? why people keep fall with same trap  :-\

Yes they are doing it example china itself blocked access to all local exchanges and now reports claims they are going to ban ip address of foreign exchanges also and the most important thing ban mining in the country with that they cause lot of issues to btc itself and they are also planning to ban bitcoin network in their country. It might cause issues for a while but other countries like japan maybe able to co-op up.

let forbid)) the rate will fall and we will buy bitcoin at the bottom.
it is important not to miss the moment...

just let them to what they fear of
they dont know the history, they dont take a time to read what happens before in bitcoin. that is why they are all scared about the price fall of bitcoin.

i think its rather that, this time around, people have learned. we've seen, what, three separate instances of negative bitcoin - related news in the past two weeks? with the price tanking and recovering fairly quickly each time, i think people have learned that itll take a lot more than just china to destroy bitcoin, and have finally gotten to the point where they can see past the unreasonable amounts of FUD that people are spreading over every bit of news. that, or maybe the chinese have run out of coins to panic sell, and everyone else has already bought them up.

maybe, maybe not. like it or not, china has a pretty big global economic presence. it might be beneficial in the future for them to be involved.

No one should panic and sell their bitcoins just yet, that is going to devalue the currency even more. We really don't need the Chinese at all, this after all isn't the first time that they have banned bitcoins but yet still the currency is still thriving and if they are banning it now i really hope that they ban it for good this time.I for one am sick of their antics.

Though china is a large country, we should not panic, thr chinese banning bitcoin, will only mean, more bitcoins for the rest of us, we should also be aware that everything that china bans, we should invest on and take advantage, just look at them banning facebook in their country, facebook still grew, even without the chinese. I think we all are ready for this, since after the dip, those with weak handd already sold their bitcoinnand are out, those who are left are the real investors, since we know, one if the basics of investing is to buy low and sell high, this strategy is always effective, and when it comes to bitcoin doin a cut loss strategy is not advisable since we all know bitcoin always bounces back and for sure bitcoin will do it over and over again, even without the chinese. This news should also be clarified, we haven't heard yet, from a anyone who is investing bitcoin, that resides in china, and if they ban bitcoin, what will they do to all the bitcoin that they had mine, they cannot just easily throw their wallets away, well in for sure, those people have knowledge on how to keep safe their cryptocurrencies. I think for most of us, this will again make bitcoin's price go down and again we will hear from different personalities that will bad mouth bitcoin, and in the end, bitcoin will still prove itself to be powerful, more and more people will be patronizing bitcoin, and for sure china on the other hand might regret that kind of decision. Let's just not go into panic into thinking bitcoin is just a bubble, this is what they also said on facebook before, and we all know what is facebook today.

The price is not moving because the damage has already been done. China can no longer push the price lower than $2800, that was the bottom. Anyone still FUDding is because he got stuck on a short position, he sold at a loss, he sold and isn't able to get get in again.... basically everyone still FUDding are panic sellers that want to buy back without having to pay an higher price. Fuck them, they are what's wrong with Bitcoin, and we are getting rid of them.

maybe, maybe not. like it or not, china has a pretty big global economic presence. it might be beneficial in the future for them to be involved.
[/quote]

Bitcoin IS better without a corrupted shithole like China. Bitmain is a cancer to Bitcoin. The faster they die the better it will be. It may cause a temporal correction due the lower hashrate but the fundamentals will be better without Jihad Wu supporting every hard fork under the sun.

Well, the same trick they did last year. Shaking off a lot of bitcoin noobs whose panic when see bad news. The FUDs were effective though. The price drops to $2900+. But me, i don't buy that bullshit they've made. They are just scare people to sell their bitcoins and buy when drops to get handful of bitcoins. Well that's the way it is. Everyone gets scared. Bitcoin ban in China is impossible to happen and i think the statement of China about that was unconfirmed. If it's true, it will be just temporary. Even if China ban Bitcoin. I don't think they cannot stop bitcoin from rising. A lot of huge countries already adopting this technology. They will just simply replace China. In the end i think China is the loser.

It already happened.  Don't believe me, just ask Bobby Lee.  This is serious shit when they kill the exchanges. That is as close to 'a ban' as you can get.  Just because they havn't removed every node from China territory yet, don't think the ban is not done.  It is done. 

Me for one, I am glad the Chinese are gone.  We didn't need them anyway and they contributed nothing but FUD and problems to bitcoin.  I wish we could find a way to kick them off the Internet too. 

Regurgitating the same news will not work to push the price lower. They aren't scaring anyone anymore, the novelty factor is lost, the price isn't even moving anywhere. When people see the headlines they will realize "oh wait I have heard this before". There's no point in trying to negotiate with them. The language barrier is too strong, they will never understand what real bitcoin is. Let them mine BCash or whatever shitty hardfork they come up with next.

Well VPN is not the only solution for sure, theres a bunch of exchange sites from different countries available such as japan, singpore, etc. Especially decentralize exchanges that china cant ban, and right now on a news only 7% bitcoin volume left in chinese exchanges, it means that they transfer their holding to ezchanges that are out of jurisdiction of the chinese government law..

In time they'll realise their mistake, hopefully it'll be sooner than later

Bitcoin Trading is the one who gets banned and not exchanges right? Well, Again it's their loss and not bitcoin itself and not bitcoin community. Some posters here might be right that it's another trick by Chinese Government to lower the price again, they need JP Morgan to trash talk about bitcoin again and then buy a massive amount of bitcoin, again. Lol. They also need mainstream media to report and release multiple articles that describes bitcoin death. Let the Chinese Government leave the Bitcoin System and still the Bicoin community and Bitcoin System will continue to survive.

Let China trader quit from our crypto world. We dont need them anymore and we dont talk anymore

We should ask Thermous to lock this forum: https://bitcointalk.org/index.php?board=30.0 (https://bitcointalk.org/index.php?board=30.0) Chinese government will not want people using this any longer.

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

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

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? 

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.

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.

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.

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.

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

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.

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.

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. 
 

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.

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

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.

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.

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

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?

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.

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.

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.

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

They're already building their own national crypto coin, which will fail. The nature of crypto is that the gvernment has no say in it. Either they accept it and learn how to benefit from them, or they'll get destroyed. They might win a couple of battles, but the war is ours

  Yu are actually right, we could convince peoe to get involved in the wolrd of Bitcoin as cell as country because they may have their own Constitution and views about Bitcoin. So for me wevstiet bitcoin develop in the future by continuing our support and using Bitcoin as part of our transaction for future development and innovation.

I would not be surprised AT ALL, if in 12 months more Chinese own BTC than today.

Chinese banned second child, Indian government banned gold & cash, US banned alcohol and banned cocaine, it all backfired ... today more people take opiates in the USA than ever before.

BTC doesn't give a shit  ;D

Holy fuck, they even mine more than 50% of world's Bitcoin, it's like New Zealand banning sheep LOL

bitcoin is supposed to be decentralized. yes. in theory.
yet, in practice, the mining is overwhelmingly Chinese operated.
furthermore, until recent cleanup, Chinese exchanges operators have been manipulating the price. They own the order books. they can manipulate it.

however, China has probably already developed or going to build a version of bitcoins that will be controlled by the central bank. it will be feel decentralized but it will be fully transparent, censored, and monitored by the central bank to prevent fraud and to prevent yuan from devaluating against it.

The market traders are all aware of this same strategy, they won't fall for it again. China is not the only country that can manipulate the fluctuation of bitcoin. There's a lot of Countries that can change the price because they have Whales in their country too. Those investors/traders on the market are keeping an eye on the price that's why they were aware of the China's strategy to try to manipulate the price again, but i guess it's not working.

Isn't it the exchanges and transaction that were banned?  Not bitcoin itself?  Anyway I believe China is one of the country that see the potential of Bitcoin that is why they wanted to clean up Bitcoin exchanges and crack illegal activities that is connected to Bitcoin, so that when they come into a decision to freely accept Bitcoin in their country, they will be the first one to regulate Bitcoin perfectly but the question is, Is bitcoin can be regulated?

sure they can build  a Chinese version of Ripple but people will not use that shit

in fact this will send  a strong message, "you cannot have the real thing, BTC is the real thing, but you can get our shitty fiat or sandpit crypto lookalike" and make BTC even more desirable  :D

China has a great firewall to ban and censor all the traffics related to Facebook, Google, WhatsApp....etc.and has developed their own equivalent software for their own use with heavy censorship, WeChat, Baidu.
What's preventing China from banning bitcoins and develop their own bitcoins with fully censorship and Call it ChinaCoin?
It's not desirable to Chinese if bitcoins are banned just like Facebook or Google in the country with banned access to foreign exchanges or p2p websites without using VPN which is actively monitored by the communists

That's a solid theory. Bitcoin will indeed never be fully decentralized, whether it's the governments or giant whales that hold the majority, unless it goes up to 50K a coin, which would make it harder for whales to manipulate. Now, be that as it may, the Chinese might be able to fully control bitcoin in china, they don't have power anywhere else in the world. Let them control everything in their own country like they always have, I'll keep investing and making money

For sure it would be fake news but if it is true even then the bitcoin will never get affected because the circle of the bitcoin is now so wide. Many new and more countries are now investing in bitcoin and they have the strong believe in bitcoin, if the china will ban bitcoin then the price may fell down but as more countries are now supporting bitcoin and it will never affect the price of the bitcoin.

I think it's becoming a little more substantial than just fud.

These are FUD made by Chinese Government. Is it confirmed? According to the article, it was a closed door meeting the company officials. They will crack down all bitcoin and Cryptocurrency exchanges. This already affected the BTC value as the price is still dropping now. Whi benefits this most? China has a lot of big investors and whales of BTC.

Oh bad news let alone this, well this really will make panicked many peoples to immediately decide selling bitcoin, no wonder the bitcoin prices look declining at this time. In my opinion.. it should us find out first more details about this news, bringing together information from various sources of information. Don't be too panicky about this, it could be just mere a issue.. we better still think calmly and don't hastily take action to sell it, who knows this is beginning of rising prices bicoin for the next.

I think the FuD and panicked were recovered already from this week, i think it will be fine for now that btc recovers from it in just a short period of time knowing how influential China is, meaning btc alone can really stand still even without China.

if china do that bitcoin will continue to work

it will have an effect about the behavior of coins but it will recover again many of countries still can use BTC in payments like what we are now

and because china is most influencer in terms of techs and stuffs like that

hopefully the rumors is not real that china tries to imitate what BTC have done

I don’t even know why anyone should be worried about China banning bitcoin. It’s just a one country out of many, so we can still achieve a lot without them. I don’t need to say it twice, cause you’re already seeing the return of the bitcoin price to a high value.

That is right, there are still a lot of countries that could help bitcoin to become more successful in the future and china can change their decision anytime because if they will see bitcoin getting more mainstream and if they will realize that the countries that accepted bitcoin is also gaining good profits then they will change their position from against into supportive to bitcoin again and the price in that time will go up dramatically.

I doubt they will care too much about how Bitcoin is perceived in the rest of the world. The Chinese government only cares about control and power, not about its citizens. Just look at their internet censorship, which is completely insane.

I really don’t know what they are doing actually. China have to take some sensible actions that may lead to their success but whatsoever they are behaving, it will cost them. Reason is the future is about bitcoins everywhere and then China will have nothing other than “Crying over spilt milt”.

What they are doing is totally reasonable. The exchanges were operating as shadow banks... the biggest ones (Huobi and Okcoin) supposedly invested ~ a billion CNY worth of customer deposits, probably in debt instruments to facilitate capital flight: https://twitter.com/tuurdemeester/status/900027535450353664

So, I suspect that this was a "two birds, one stone" move. They want to bring exchanges under tight regulation (or perhaps even see them administered by the state). The issue is indeed capital flight, but not for the reasons that most bitcoiners think.

Yes, still there are other countries that support, friendly with bitcoin. Bitcoin can not be banned by the country as long the internet connection is still there, maybe Chinese government just take the benefit of the rumors be made by them selves to get cheap bitcoin due to many people are panic selling with cheap price and they have bought them.

It may be one country out of many, but it is a very important country. As per the market stats, China accounts for almost one-sixth of the Bitcoin exchange volumes. And do you think that the ban will remain limited to China? What if the other nations take note of it and ban BTC within their borders as well?

China is just overreacting before they come up with a way to regulate cryptocurrencies, this ban won't last. I bet my balls that they higher-up's in e.g., PBOC have notable BTC/crypto investments themselves, because they knew they could buy low after starting all the FUD. Don't be as deluded as to think that they'd be against getting richer than they already are, especially if it's basically risk-free and requires absolutely no personal effort.

I though China learned the lesson that they cant stop bitcoin and nobody can. After the series of attempts including JP Morgan i will think this another ban will not affect the bitcoin anymore because most of the panic people before are already learned from the past attempts. The most affected of this ban will be the Chinese people who will be forced to reject bitcoin once again because of their government law in which they are oblige to follow.

China and others never had any delusion of being able to "stop bitcoin" ever. they have always known this. and whatever they did so far could only delay the inevitable and keep the growth smaller but the growth is happening and adoption is increasing.
i just hope people started to see this too.

Japan is regulating Bitcoin and the business sector is pouring money in, and the US is about to have fully-regulated futures markets on LedgerX next month, so I doubt it.

And global trading volumes are rapidly changing. A year ago, Japan wasn't even on the radar. Now they have the biggest volume in the world (albeit, some exchanges with zero fees, so there is likely additional churn). South Korea, too, is now becoming one of the top countries for trading volume, seemingly out of nowhere.

So even if the Chinese government is putting the brakes on exchange trading, it seems like those volumes are being replaced elsewhere. I'll bet some Chinese traders have already moved to Japanese and Korean exchanges.

couldn't have said it better!

Is it true again?
I don't think that China has declared Bitcoin for illegal currency, I believe that China government is trying to reallocate all of the capital of Bitcoin which captured by the Chinese people. so it takes a long time to be legal in this country. but, it is absolutely sure that China will give the green signal regarding allowing legal currency.

I agree with you. there are still many countries that use bitcoin. if china prohibits it it will not have any effect or anything bad happen.

China has declared it illegal for everything.  China hates Bitcoin.  It means they can't continue to fuck their citizens out of the money they earn.  Check 'currency devaluation' on Google. 

stop spreading lies. nothing remotely like that has happened so far.

what they did was 2 things:
- ban ICOs which are already either illegal or frowned upon in other countries
- close exchanges which have been working illegally.

Yes it is , but well China is the most influencial contributor of the worldwide economy, given that fact yes they have a huge contribution in bitcoins proce but even though they already ban bitcoin in their country, as well as the transactions and exchanges happening there were all gone still bitcoin is slowly recovering from it depreciation in 10% imagine that, China has a huge investments in bitcoin, with or without them we can continue thats for sure.

Well, the true is that bitcoin hold it and it's going up again, and even with all those announcements, the so called china's ethereum hold it good 2 and growing.
I think that we can look at this as a indicator that you just need to move the action to a country that accepts it (japan in this case and singapura for what i've saw is gaining terrain also) and everything will be fine.
It's that panic sell off that makes everything goes wrong.

And again...it's China, they do this with everything, and probably in a few weeks they will announce that they accept it again in they're conditions, exchange house under gov rules etc...one thing they love it to shake economies.

Correct. They seem to be trying to manipulate things in their turf though i don't think it's going to have the same effect now as the first time we've heard of the announcement. It's waning now and btc is again looking good streaking past 4k again

Hahahahaha.

So funny!

China and ANY governments do not matter to Bitcoin anymore! Hahahahaha.

Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter. Bitcoin cannot be controlled.

On the opposite end of the spectrum the global fiat bubble system broke a couple of decades ago.

Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses

Bitcoin, systemically, is free from these burdens.

Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalk.org/index.php?topic=1853019.0

CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping
https://macromon.files.wordpress.com/2017/04/global-monetary-base.png?w=640
https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/ (https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/)

Have a nice weekend.  But I know some Chinese government people and I have inside knowledge.  Don't be surprised if you lose a shit ton of money on Monday or Tuesday next week.  China is going to make the ban more detailed and more formal.  Bitcoin price will fall big again early next week.  Mark my words. 

And we are still unaffected. Thanks for trying to manipulate everyone here, but it has had zero affect. You can try to show people fear and it will result in nothing good for you. Keep trying, we are stronger than your weak spine and we will hold harder and faster than you can ever see.

one country or not, they hold an immense amount of geopolitical and financial influence. you know why sanctions on china don't work too well? because in the end, you need to buy goods from china anyways. they hold an almost critical role in exporting a great deal of the world's manufactured goods, and that can't simply be ignored. weather you like it or not, they have pretty good global influence, and may be able to influence countries dependent on trade with china to follow suit in policies on bitcoin and cryptocurrencies. that being said, although china and their choices can't be ignored outright, i have full faith bitcoin can do fine without china. it's decentralized after all, and the rest of the world should be able to pull through whatever china decides to do as far as bitcoin and cryptocurrencies goes.

let china want to ban ico as much as anything and as often as anything, bitcoin will keep growing even though there is no china, the proof is now bitcoin up l...