Bitcoin Forum

how badly could banning of bitcoins in china affect the bitcoin market and cryptocurrency????

Lets say China created a China Coin, or the U.S. created a USA coin, what happens if their economies collapse and it's value next to nothing? Bitcoin can still reign supreme.

the effects of china banned crypto in its own country actually have bad impact for bitcoin world, but I am sure this is only temporary, because the Chinese people who use bitcoin also very much

Not too severe it seems. Crypto might be under fire in China but the flow of digital money is global and can't be stopped without extreme measures (total internet block or something). Looks like the 'shock' of this thing has already passed; BTC briefly dipped below $3000 on the 15th of september, but now has recovered to around $4000. I'd be surprised if the crackdown on crypto in China had any dire consequences.

Very bad for bitcoin but it does not mean it is the end of it. Bitcoin can recover even if China bans bitcoin. There are a lot of bitcoin holders, miners and traders outside of China. Japan is very supportive of cryptocurrency, it and other countries can uplift the lose from China.

This question have been asked how many times already.We should try to search first before on posting so that we wont repeat these kind of questions all over and over again and answering this all over again.
But i would still answer on this one, China did really make an effect on bitcoins price knowing that they are one of the big players on crypto and now they do decide to close exchanges and banning ICO which causes for price to dip but still no worries because price do normally goes back up again.

The effect would not be little nor will it be significant. I think what just happened to the price is a minor correction coupled with a small effect of the recent news in china.
Before the price drop we can all agree that bitcoins just jumped from $2,400 to $5,000 in a matter of days. It dropping is just a healthy correction of the price.

I think the effect of banned bitcoin in China only briefly, after which bitcoin will rise again. Because bitcoin is not only circulating in China alone, but in some countries.

although china has a great contribution in bitcoin no doubt about that, but i think that bitcoin is in fact a decentralize currency and now bitcoin is also spreading throughout the world therefore i do not think that it will have such a great impact on bitcoin. bitcoin is now spreading throughout the world and we can hope that a bane by a single country on bitcoin will not effect the image of bitcoin and bitcoin will hopefully continue to increase.

I think this is past tense conversation. China has already done the impact with recent decision but I don't expect this effect will continue and make some further damage. China is not the only country in the world and not the only big player so all this speculations about deeper impact of ban on the Bitcoin price are exaggerated.

It is very bad for bitcoin...cause the value decrease...but I think it is not the end for bitcoin as it can survive...& there are many bitcoin holder,miners outside china...so other country can uplift the lose of china

Hey gringos! what language do you speak eh? This is too much trolling, you retardos! Also to you OP, did you even bother to research the old threads before posting this?

You retardos, if you can't speak ingles then you better stick to your local threads. Pendejos!

@20% bitcoin use in china so we have already affect for china ico ban .We also heard a news china ban Ico and cryptocurrency before 30 sep.So i think Bitcoin need some week back to her place.So wait for 30 sep.What are u going on cryptocurrency world?

You are right and I agree with you, maybe this is not a big deal with Bitcoin, because Bitcoin is not only used in china alone, Bitcoin is widely used in some countries, so for all the people around the world who use Bitcoin and also who have been holding Bitcoin unnecessarily worried about all this, as this is only temporary and there is no adverse effect on Bitcoin in the future.

Bitcoin not only use in China. The bad effect of bitcoin forbidden in China is exaggerated.
In present days, the price of bitcoin is $4000 and that is can happen without China.
Bitcoin price still can reach the previous mark.
If China has forbidden the bitcoin, there are countries will legalized bitcoin such as Japan.
Bitcoin segwit also activated in last month.
It will be improve the price of bitcoin with or without China.

China affects a lot actually as we can see from the past. I wonder why there's saying "Buy things what china has banned" :D.

The effect of china on bitcoin will surely hurt the value of bitcoin as we've experienced it recently, but it won't last for long time.
Bitcoin built certain benchmark over the years that it cannot be destroyed so easily like the way people think. Bitcoin will take more china to break it!
Bitcoin is digital currency for the future that is why many people are using it and yet enjoying how simple and powerful it can be to use bitcoin.

If they resorted to measures like that then I’m pretty sure their economies will be at the border of collapsing, for the average people a coin like that will be foreign so it is obvious they are going to try to get people that are already invested in crypto like us, but who in their right mind will use such a coin?
No one I suppose.

If every country issued a digital coin I also believe the coins will not grow, because the scope is not too big
Because the scope is not large so people will be reluctant to invest and they think everything is not profitable

Since the majority of the Bitcoin (and crypto) market is Chinese, I'd imagine that a ban of Bitcoin in China would cause a huge drop in its value.  The panic caused by the huge dump would drive the price down even further as investors from other countries jump out.  I think the smart people will be buying at that time.

yes you are right, when bitcoin price goes down because china it is time we buy,
may be good news from china,we can buy bitcoin at the lowest price.

China affects bitcoin yes because they got wrong decision for bitcoin but bitcoin mean is not only china and they will understand it also time will show it us near time.

Fake news ?

Just thinking loud!

Tenacious D - Roadie (Explicit)
https://www.youtube.com/watch?v=3b1acvZRvV4

For your eyes only. (My BTC is at 4000 USD.) Seriously. Nobody died!

Me and Cage are hungry!

Time to get angry instead of quoting! (China could blow up the world with a little help from North Korea and good old USA..(Forgot. and Russia.. Former USSR)

Going after miners is the worst attack Chinese government can do against Bitcoin. If Bitcoin survives this, it can survive anything.

China hates everything. And that is a fact.. Easy start.

Pick your form.
Tenacious D - Tribute
https://www.youtube.com/watch?v=_lK4cX5xGiQ&list=PLDC3KoMsRyPzQNHhvLunEOxbc8RlDrhwV

T-DICK!. (No where to hide no where to run..)

people know china have the largest mining company and once they give bad news, many people get panic and they prepare for the worst thing that might be happen. this is happen in few days ago and the price is drop too far but fortunately the price goes up and now trying to reach new price level. I wonder what will happen that I heard the news about china wants closing all exchanges. but I am sure that the other exchanges will survive and we will be pass this conditions.

What you are saying is very much like each country creating their own cryptocurrency and the strength or weakness of the currency will be based solely on the said country's economy, i think is akin to the fiat every country uses and since it will be by the government i don't think lots of people are going use it the same way they do bitcoins and i bet you, it will not be decentralized.

Well you have seen it on the last dump of bitcoin. Its because thr government of china are banning the ICo and stop all cryptocurrency exchange that impact to massive sell on that big country. The massive sell caused the bitcoin price to fall down from around $4.8k to around $3k. Its become a prove tht china have a big influence to bitcoin price. But I hope after they banned it, the crypto currency especially bitcoin are free from china influence.

Also can you imagine the amount of regulations and surveillance that those coins will have, the amount of back doors in the code that will allow them to do anything they want to anyone, if governments can already freeze your funds with ease can you imagine what can they do if they created their own crypto.

yes, it has passed. and now china is out of touch with bitcoin. I think it does not matter, bitcoin can survive even though china is not involved. I'm sure bitcoin will increase over time.

This news caused panic in the market and most of Chinese are dumping their coin. I think after this chaos, pass Bitoin will rise slowly until replacing Chinese market.

for me it is not important anymore. china is part of the past bitcoin.
bitcoin is now without the involvement of china. yes this is the way they take. full of intrigue and the plays behind it all.

the most important for me bitcoin itself. bitcoin has persisted and climbed back even though this increase is not too great. but this shows that bitcoin is able to move upward even though china is not involved in it.

I think Chine cant change nothing already. Bitcoins is strong without China

Issuing an individual digital coin would give the country their own digital currency and perhaps its value would depend on its own economy, just as how its local fiat currency works. It may provide some convenience for its citizens but in the long run, it would be similar to the fiat currency but only digital. It would be also hard to be used by the low class people of their country given its digital characteristics.

Amongst the other cryptocurrencies, Bitcoin has remained to be strong and I think it would do the same as compared to a newly created coin of a country.

Once a while ago things that happen in this country make bitcoin prices to go down every day. This is what makes investors worry so they sell a lot of the bitcoin they have.

Not really, if China went against miners then bitcoin is going to suffer in the short term, but this will give the devs the chance to change the hash algorithm to something more difficult to create those asic miners and then we will have distributed mining once again for some time.

The ban on ICO gave a dip in the graph of Bitcoin but it was temporary and it clearly depicts that weather it the super-hub of Bitcoin nothing can stop it from rising again. Also, in the hard time Japan was very supportive to Bitcoin which helped it to stand again.  Moreover, the ban was temporary because in the recent news it was discovered that ICO will be back in power with proper rules and regulations because at the end China also knows the potential and value of Bitcoin and can't afford to lose that.

that is right to say that in very beginning the banning news of ICOs by China turn the bitcoin price down, but after some time the market recover its position in a very good way, in fact now the bitcoin users are increasing throughout the world who are giving more support to bitcoin and therefore even the China decision about banning ICOs could not effect the bitcoin so much. i am sure that very soon bitcoin will cross its previous position and will reach to 5000$ once again.

Ya it is true that china have banned ICO but i think they will clear this ban and make some rules and regulations that have to be followed by the ICO developers if they want the china to invest in their projects. Which is good as due to this we can slow down the scam ICO.

Yes that is a fact that they will again the ban from bitcoin with some rules fix for it, because in future China has to realize the importance of bitcoin and other crypto currencies. As we can see that japan and some other countries know the importance of bitcoin and therefore they already have turn bitcoin as legal currency.

I couldn't agree more, their actions have proven futile and Bitcoin has defeated them once again. I strongly believe it can survive anything also including the Chinese government's threats.

The answer is simple, because China is one of the largest bitcoin markets in the world. Today, however, China has reduced its influence when Japan is the largest bitcoin market.

We already saw serious bitcoin collapse for two days at $ 1000 after China began blocking bitcoin and other cryptocurrencies. But after a while bitcoin grew up till $ 6000 so do not worry much, there are other countries like Japan, from which bitcoin depends more than from China.

I think it has an effect one way or another; however, given that bitcoin is a currency, that, as you can say, has no nationality. Then, it would still prosper in many other places. It's affect would maybe come from the fact that China is a big player in the market, whether in the currency industry or in the stock market. However, I think, in due time, China will lift that ban since the recognition of bitcoins has been increasing more than ever. Also, maybe it's China's way to let their own digital currencies to prosper in the market, because evidently, it's not getting much attention.

The Chinese influence that is likely to affect the future of the crypto currency will come from China's miners, since any proposal to update the bitcoin structure requires approval of the miners.
Wang Chun operator AntPool, the world's largest mining pool, said that it is the miners who control the outcome of the vote.
One of the groups in the block size discussion, known as Bitcoin Classic, wants to increase the size of the bitlock block to ensure that transaction processing time is unchanged. Another group, Bitcoin Core, is trying to resist any major changes.
Bitcoin Core also believes that the increase in the block size will be facilitated by the miners, whose equipment is capable of processing longer calculations, which large blocks require.

If chinese want to use bitcoin, the use it. They have enough ways to do. Chinese people are everywhere located in the world. Chinese Tourism are booming. The travel for money cleaning in casinos and they will do same for bitcoins.

The professionals will use bitcoins. Newbies and a bigger crowd will fear and use other coins. But that is not the majority.

It will affect the bitcoin but not seriously. 

China hasa great economy and a sleeping giant of asia. if there's a bitcoin ban In CHina bitcoin drops rapidly and also their cryptcoins that are made in CHINA. i still believe that govenments of CHINA will embrace bitcoin.

It is hardly possible. China is really tough towards bitcoin and cryptocurrency. It bans icos, mining, bitcoin exchanges...

Seventy percent of the world's bitcoin is dug from China, making China the world's largest bitcoin market. Bitcoin China shut down after the announcement, its trading platform bitcoin, Litecoin currency and other virtual currencies have dropped significantly.

At present, China is still the largest miner of bitcoin. If the Chinese government wants to combat bitcoin from this point, I believe there is still a small impact on bitcoin. But China is not the largest market for bitcoin. In China, Bitcoin was not banned, but it was not supported. I think China will introduce some rules and regulations for bitcoin.

It will have impact on bitcoin world, most people in china use bitcoin,  but still tthey will find out a way to still mine and use bitcoin

We have already been able to make sure that the restrictions and bans in China regarding the crypto currency have not affected negatively the Crypto currency. In addition, by coincidence, however, it was after China announced the introduction of such prohibitions and restrictions from the end of September that bitcoin began its price growth and ended as much as $ 20,000 in December. Such negative information if and affects bitcoin, it affects temporarily, after which it is again restored in the previous course.

I think it's very serious.
China has the world's largest number of people mining bitcoin.
The number of bitcoin transactions in China is huge.
If bitcoin is banned in China.
That could slow the pace of bitcoin growth around the world.

It will be a different story if China decides to ban mining, that would shake the foundations of Bitcoin because most of the mining is done in China and an unstable network will shake the public's faith in the bitcoin Network.

However I do not think the any ban will be permanent. Russia tried to ban bitcoin after mt. Gox collapsed back in 2014 but now they are looking at legalizing it, so my feeling is that any such ban will simply force China’s exchanges to move to places outside of the mainland, places like Hongkong, Macao and Singapore. This may have a cooling effect on the cryptocurrency market for a few years but it will not stop the revolution because it is just too big for any one government to stop.

the economy collapses when the corporations run out of Qualified workers, something similar happened with the soviet union, people stopped working and all started trading,

you will have elites (most likely corporate communist elites) that will create a new government, and they will reward their workers with a new token, excluding everybody else in order to secure their supply of workers (no one works if he isnt getting any reliable rewards.)

in the west and in china this is very likely because the corporate elites that were capable abusing their access to their states financial system. while telling everybody to earn more sell their time, while themselves they collected and built themselves income sources.

the reaction will likely move those economies towards communism

we will then have a new world politics where you have Russia against Communism (completely vice versa than cold war we witnessed)

with the US dollar evaluation gone, you will also have a completely different value of bitcoin,  it becomes just a token.

regards

Whenever China try to manipulate the market with weird news that makes me think that they really need blockchain. JUst think about it, they were looking forward an opportunity to use against US and USD. They consider finally they got it with bitcoin. So whatever they do would b just to control the market, not to destroy.

As far as I understand the regulation is imposed on China-based exchanges only. And as for those like cex.io (https://cex.io/)? They are still open to Chinese users?

The Chinese Bitcoin market is virtually non-existent; its trading volumes have fallen to a point wherein the market could not possibly impact the global Bitcoin market in any way. In the upcoming months, depending on the state of the Chinese Bitcoin market, China could positively impact the price of Bitcoin by resuming cryptocurrency trading. But, it will not lead to a decline in the price of Bitcoin, as the Bitcoin market has already recovered from the ban imposed by the Chinese government.  :)

I dont think China could make the market to get even worse...

China will greatly affect the bitcoin as a large country and a high class country banned it. Bitcoin already lose a massive contributor to its potential becoming more valuable asset. Imagine if China continued to let bitcoin flow in their country, imagine its price right now and more probably the bitcoin's value would have not fallen on early january. China has so many businessman and investors and probably can cause the cryptomarket to blast this year.

China is a populous country in the world. Its prohibition has greatly slowed down the development of bitcoin.

China is one of the biggest country, and one of the biggest player on the crypto market, most mining farms and exchanges where operating there, so of course any regulation, restriction or liberalization of bitcoin by china will have affect on price.

I think community alredy get used to the bad from China, and this is not doing panic.
Now in trend South Korea and Japan

maybe that's the way it is today. the regulation that makes bitcoin banned in china makes the ascending condition of bitcoin value. in fact it will not have too much effect with the bitclin itself. bitcoin remains superior among crypto. bitcoin remains the current king in the crypto world. all comparators and peer to peer altcoin values ​​remain at random on bitcoin. banned bitcoin in china is likely to be temporary only.

Banning of bitcoin anywhere in the world are affecting bitcoin price because bitcoin price totally depend on demand in market so if there is any country ban bitcoin in their country then off course market will lose demand due to which price will be affected just like price of bitcoin now a days 11K$ around so if Chinese customers are not ban in bitcoin then demand of bitcoin was also be high then price will be off course high.

China is a big market. And it is necessary to consider it from this side in the first place. However, everyone understands that prohibitive measures can not be fought against crypto-currencies. "Thor" is one of the most popular topics on Chinese forums. It is not worthwhile to forget about emigrants who do P2P payments to their homeland, their family.

bad news from china country in my opinion is common. so our friends here will not worry anymore. which worries it is a bitcoin price reduction due to bad news bitcoin.

all this has gone by, china has no more control over bitcoin and crypto. in fact, china is unable to make the bitcoin crumble to zero. although the market is currently down, it does not mean that China participates in this role. so, now china no longer has the strength to overthrow bitcoin.

Really very, China is the biggest source of bitcoins in the world (as well as the best area for mining). Also for this the bitcoin remains stable and does not salt, just because we talk about the china that wants to ban the bitcoin

China banning btc can have minimal effects, but I don't think it will affect the price of btc that much, after all even if btc is ban in a certain like china, we still have huge amount of chinese investors, you can always do ways of accessing it such as using VPN.

China market is a market that has great significant in the world, with their population and technological advancement we can't down play their impact if the government decides to ban bitcoin in China it will have negative impact.

With regard to the ban in China, people in the blockchain industry should have become accustomed to it. I think that the impact on the investors themselves should not be too great, which may mainly hamper the future development of Bitcoin.

Bitcoin experienced considerable decrease in its value after the banning of bitcoin affiliated activities and processes on China. However, the decrease wasn't enough to consider bitcoin a "dead currency". Every now and then bitcoin suffers decrease and then it will increase shortly after. One shouldn't be bothered by the sudden decrease because it is expected that it will recover soon this year.

The situation in China has somewhat influenced the bitcoin price and its capitalization. Closing the exchanges by China made people look for other exchanges. In particular, in the Japanese. But such situations will still not be able to destabilize bitcoin. And in the end he has to return to the previous level

China, before the crackdown of crypto exchanges, is been home to the word's biggest community of miners and many of the chinese are also holders of diffrerent cryptocurrencies. The continuing crackdowns considerably affected the bitcoin price, falling below the $9000 level with heavy losses at the start of 2018.
Another reason in the unabated fall of the bitcoin price is the plan for some governments to create a law for the regulation of bitcoin exchanges in their country

China has a large population. It can be said that China is a major economic power. Think about the value of bitcoin if China is interested in bitcoin? If China prohibits bitcoin, this will have a huge impact on Bitcoin and is likely to hinder the progress of bitcoin's development.

The only thing that the China issue built up was the shortage of people purchasing Bitcoin. It's not a lot of people though they can purchase Bitcoin from someone off the market.

Indeed after China began to ban the existence of ico make us a little difficult To find a project that has a very large allocation Fund but the incident It does not make me instantly desperate to earn an income and should continue to take advantage of every small opportunity.For the sake of improving the economic system going forward.