Bitcoin Forum

I heard  the news that currently 90% launched projects in ICO platforms have been basically checked and returned in Shanghai, relevant Bitcoin virtual currency exchanges also proposed plan for quitting and started related work for customers’ funds and assets.
 SO ,what do you think about Bitcoin' future  in china?
I would like go hear some opinions

China is trying to regulate Bitcoin in their country so they are planning big on Bitcoin technology and its acceptance so before stating any big news they are taking all precautionary steps to implement Bitcoin in their country.

The future of bitcoin is very bright all over the world except china.Its all due to aggressive steps taken by china against bitcoin.China is not comfortable from the beginning.Earlier it had an idea of banning bitcoin,but since it realized it would not give them desired results.So,they started to take actions against bitcoin step by step.It was as a result of implementing these steps that all ICOs got banned,bitcoin exchanges getting banned.Chinese investors would be the ultimate losers.They could only blame their government for such steps and other than that,they could do nothing.

China has for quite a few times dodged regulation or had it in their favor. They will dodge it again if needed.

china want to know what her citizens are doing. one of the reasons they now think to ban it it's because they dont have controll over people investments, ico, and exchanges.

once they will find a way to be under control i think they will adopt it the future will be bright

Bitcoin will survive in China, that is sure. All this happenings are actualy try to regulate the Bitcoin not to destroy it. I think China is still interested in Bitcoin and they are not so sensless to go into some destroying campaign against Bitcoin. All this will be in their favour at the end but on long term it will not harm Bitcoin either.

ICO has nothing to do with bitcoin! unless you found out about bitcoin yesterday you should have known this already.

proposed plan!
Chinese exchanges were closed because they didn't have any license and were working illegally.

nothing changes. the same thing is going on, the government is trying to prevent the illegal exchanges from operating and either close them for good or regulate them.

bitcoin is still being adopted in China and in all the 100 something countries around the world. and the volume coming from China is even higher than before.

At the time China made a stop to the ICOs and Exchanger as well as the emerging news that the Bitcoins were to be abolished, it was as if they called the people their right to freely use it. We know that bitcoins have many affluent banks. But we can not prevent what's happening because it really is the answer to all our problems. Because we can facilitate transactions and have an equal status in life. Let's imagine that the minds of china will change because when it happens they may regret it. and their country will remain in poverty

A bright future is coming ahead for bitcoin. China will soon issue licensing to bitcoin wallets and exchanged and might also make a separate body which might govern the whole market of bitcoin. So dont worry about this minor setback.

China has not forbidden all ICO and also it has forbidden only those exchanges which have had some illegal transaction, by making profit for developers. Some day i think bitcoin in China would be legal, but all exchangeres and ICOs would be checked by the goverment :)

I think bitcoin will grow rapidly in a country if the government fully supports the existing bitcoin circulation in that country, but if the government shows the opposite attitude it will be very difficult for bitcoin to flourish, this case happens in China, their government has closed all activities which is related to ICO, so I think it will complicate the development of bitcoin in the country.

and this is really just a matter of time, until finally the bitcoin is allowed back .. because the Chinese government wants them to benefit from every transaction that takes place .. and this will be re-legitized when the Chinese government has got every advantage of bitcoin users. maybe this will re-pump the bitcoin price when china re-operate against the bitcoin payment system

China in addition to banning bitcoins, they want to control bitcoin entirely in their country. That's already predictable, because from the first China is known with a country that likes to control the people and technology completely.

Everything will be okay even without China!

Bitcoin's future in China is still unpredictable, we don't know what China is planning about bitcoin. Their decisions can't be trace and what I think is that they want to control and regulate the transactions in their country. And later on we will see them again eating their words that they ban ICO's and other stuffs because this will give their government a big profit that will benefit their people.

I've heard that China forbidding ICO just because they want to make sure thatthe majority chinese investors will invest in foriegn startups, so they can have more influence on the world. I know that it might sounds a bit crazy  ::), but i see that there is something in this rumor.

Bitcoin is banned in China. All cryptocurrency is banned until they changed their mind.

The future of bitcoin in china is in the shadows at best.

The stronger it gets the more measures they'll put in place against it.

It'll always be a thing there but never above ground is my guess.

China and most other countries are more interested in Blockchain technology than in bitcoin itself.  For most governments there is no need to have another currency than what is out there now.  Just like China was interested in what Social Media was about,  but not necessarily in Google, Amazon or Facebook.  Which is why it is banned and they have Weibo, Alibaba, etc.  Anything that can be recreated(and owned by them or their cronies) for the Chinese people exclusively is what they're interested in, that's been their political and economic agenda ever since.

No one can confirm the future of bitcoin in china, but I think with or without china bitcoin will continue to be popular because users outside china also keep on increasing.

It's easy, if some country not control money - it's control nothing.Its nothing to do with exchanges ,in my opinion ,its all about not let money away from country) How they can regulate this ... ll see)Maybe Jihan has some ideas  ::)

As people in china choose to be hard headed about this digital currency, I think they will have to be more anonymous this time since their government was being strict to it. It's much better that bitcoin will not be legalized totally in the country, but people will still choose to invest bitcoin and hid to authorities and it could not be controlled because it's decentralized character.

Yeah recently China has been really strict about crypto currency, no more ICO can be launched until a further notice and Bitcoin future seems a bit unsure, actually the government want to try to regulate it, but seems like hasn't found the key, but the situation for Bitcoin in China is not really good

If you correctly check then China wanted bitcoin should be clear with all scams and for that their should be some regulation so that this scam ICO should not ruin the bitcoin users and create bad name for crypto currecy. So i think after the regulation with some time the price will rock back high.

You'd have to ask the chinese government. It really solely depends on them and what they want to do with bitcoin regulation in China and it is extremely unpredictable what they are going to do until they do it.

The general trend seems like they are trying to just rid of bitcoin's influence on their country completely, step by step.

I'm not sure how far they would be willing to go to fulfill their goal. Perhaps they will ban miners, ban the use and holding of bitcoin, etc. but in the end, that's all they can do. They can't ban the bitcoin network itself.

As far as the near future goes, Bitcoin's future in China seems uncertain. There has been talk about regulating the exchanges, and I believe its future depends very heavily on that. We know that China is one to take drastic steps as far as technology and the internet goes, with the Great Firewall of China and all, but they have been very nurturing to businesses in recent years. I don't know how they usually handle tech companies, but I guess we will see soon enough.

At the end of the day, lenient regulations on these exchanges should help flourish the growth of Bitcoin in their country again, while debilitating regulations is almost certain to stifle it. Either way, Bitcoin will still live. Large amounts of money are involved, so there will always be someone slipping through the cracks. It's just a matter of rate of growth in my opinion.

well, this is a bit over the top. they arent so much banned at the moment as they are temporarily restricted from being exchanged via formal platform. possession by private citizens is not illegal, and the restrictions are seemingly temporary, at least til they release formal guidance. i think people may even still be able to trade person to person. its just that transactions that would be subject to reporting, are now illegal.

recently I heard china prohibit the existence of bitcoin in their country, I think this is a bad idea for the future of bitcoin in chinese country itself, because most Chinese people themselves are bitcoin users and this is very influential on the economy of their people themselves .

What communist government with a capitalist heart would accept its citizens becoming rich without spending a single cent in their national banks where they can take fees to enlarge the capital of its members, possibly only be a prohibition from the Chinese government to be able to take over of all bitcoin market in China.

I guess even if the government banned Transactions. Some of its users there did not really give up on btc. I mean they must have use overseas transaction to proceed in there accounts.

Unless china does DPI and intercept every bitcoin operation, how can China  "Ban" bitcoin?  Didn't China just only shutdown exchanges?

bitcoin i just being regulated and will soon be bigger. the revision of the law will make the always help the regulation and along it more and more people are going to be introduced to btc. its not just going to be $5K soon but will exceed to what is expected. Jaime bought BTC and i'm not surprise if the rest of the banks are buying BTCs.

We don't actually know the future of bitcoin today in china because we lived in the other country but I guess based on the articles and different post here in forum all I can say is that bitcoin will be somehow hard to exchane because we all know that they banned the other exchanger there. And I guess the rate of usage of bitcoin in china will be slowly rising because of the issue.

If you are only talking about China then don’t worry they are only making their own market and this all drama was only created to show the world that China have some strong hands in this business. So, what China, every other country will be going to accept it and bright is the future.

i agree with you guys. in my  point of view China's govvenment dosen't want Bitcoin trading out of their control. there isn't any statement that said bitcoin is illegal.

yep,need time to improve . in my opinion china's government is gonna perfect the supervision system then open the trading market again.

God knows we all are aware of the different rumours spreading that exchange ban is temporary and other sorts like china introducing their own crypto for trading in their currency this is not completely true there will still be many issues as china also is gonna block all vpn by 2018 not sure why this would be required if they are going to give licenses to exchanges.

The poll table I think not necessarily. And 1 and 2 option seems confusing like the question itself 111? edit it Op to make it worth the vote.

China is always been like this since before making unnecessary noises and actions still worked anyways. Big Traders and whales are  taking advantage to it and that's how they can manipulate how the market may look like a red one - or greeen + one. Still I can see the bright future of cryptocurrency in china but not specifically on bitcoin because they might planning to make a new one.

It really depends on how the Chinese government will go about regulating it. Personally i believe that they are going to try to ban as many aspects of bitcoin as they possibly can but leave SOME opportunities for people to still learn about it.

Chinese bitcoiners will still be using bitcoin, and trading it, even when exchanges get shut down. They can simply trade with each other and not via an exchange, or even use like LBC.

That is exactly why bitcoin is so powerful, it can overcome government censorship and bans, because it is decentralized.

In the end China will still return back to investing in Bitcoin, that's for sure. They are still trying to figure out how to regulate the usage of cryptocurrencies as of now. Time will tell and we will all soon know by then what will be the outcome of the banning of exchanges from their country.

Now many ico project scam and many people lose for that. So china block some ico and try to checked any ico before launched. We heard a news china ban bitcoin and crypto currency sep 30.So we need to wait sep 30 what will be going on crypto currency market.

i hope so but if they don't want come back, I think its no problem because we still have many country and many people which still want to using bitcoin for many ways. I think in future, they will regret for banning bitcoin and they will join with us again and like you said, only time will tell and we will see later. while we are hope, lets we see what will happen in the end of this month.

yes, china does not banned bitcoin, just banned ico. I think that bitcoin is still allowed. as you say, the ico ban is to make bitcoin better there.

Yes this could be one of the reason beacuse through ICO many would raise the moeby and then it may turn out to be a scam this causing a lot of grievances from all the investors as their money is lost . This to save the money of people I think this step is being taken .

Although the Chinese government banned bitcoin, but I'm sure chinese users will never leave bitcoin, they will continue to live with bitcoin and maybe they will not be affected even though their country is banned bitcoin.

I honestly expect that the chinese government is simply going to continue the persecution of bitcoin and they may even start targeting individual bitcoin users inside the country. That's just my feelings based on how things are going right now with new bans and stuff.

Though, the more one tries to persecute something, the more attention it will get. Plus, bitcoin can't be shut down like PayPal, because of its decentralized nature.

Bitcoin in China is far from over. It may seem like it is because of chinese government banning exchanges, but chinese bitcoin users will continue to use bitcoin just like they did before, just without exchanges(they can always trade in private).

China does not like bitcoin and so it will not survive there. Hopefully the rest of the world will see it differently in the future. The bans on exchanges is only the beginning for China. China is going to stop bitcoin from circulating in their country to the best of their ability. I don't think there will be many Chinese people into bitcoin in the future, sadly.

I would like to think that after the dust settles in China
and the authorities tackling ICO's and the Licensing of
the Exchanges takes place there will return the trading
of Bitcoin, but for the moment there is a lot of uncertainty.

In the long run regardless of what happens people in China
will continue to find a way to e involved in Bitcoin.

after all it is decentralised  ;D

The future of bitcoin in China is now gone since they are trying to ban all of the exchanges in their country and i think that it is the end of the era of bitcoin in china and users in that country will migrate to other countries that enables bitcoin exchanges and other sort of transaction that is related to china. The future of bitcoin is not only in China because it is depending in almost all the countries and we can make things better even without the help of chinese people.

In my opinion, China's government will not be able to prohibit the circulation of crypto currency in its country. Apparently, they themselves have already realized this. It is also believed that these restrictions were taken before the 19th Party Conference of China, which will be held on October 18. In addition, bitcoin has already shown its vitality and could quite manage and yuets of China. Therefore, the future of bitcoin is unequivocally.

it seems to me that all these prohibitions are temporary. Soon they will be canceled, because the market is very young and promising, it all begins only because of it there will be a war for the first place among the countries - leaders on the planet. China made this statement most likely for a strategic move. Perhaps they want to create their own crypto currency, the equivalent of USDT, which can significantly affect the further development of events.

You do not have to ask this question. Because their bitcoins are illegal it is a major obstacle to their government's thinking. And they have nothing to do with it. Thus would the future of bitcoins is a reproach to them that they should not be made. Because future bitcoins are good for our people who know it. And people in their countries would of course be lonely and angry with their government

I think it's impossible to ban crypto entirely in china. There will always be people who can look for other ways. Its sad that this had to happen especially with how big for crypto the chinese market is

It has no effect on any of us at all, so what is the purpose of the question? This has come up over and over in the past few weeks and there is no purpose to it here, other than creating useless talk and chatter. Bitcoin future is good even without china and In china, bitcoin will return back soon.

Nobody can tell the future with hundred percent certainty like you said but I guess, China is going to use bitcoin sooner or later. Chinese government has made this move to check their control over digital assets and the effects on their economy without crypto currencies. Still, it won't destroy the crypto world if China cuts off all links with it.

Yeah, China ban bitcoin in the past few years but still they lift their verdict once they know that many wants to be involve on bitcoin market, A government can't control a decentralized coin. Satoshi design this coin to stop the monopoly on the economy of the world. In the future, The marketcap of cryptocurrency will be greater than the fiat.  ;D

I think that China will not be able to prohibit long ICO and circulation of crypto currency in their country. In addition, these prohibitions, in my opinion, will not be effective and will not bring the expected results. The Chinese will be able to bypass these prohibitions, and China as a state will lose popularity in the crypto currency market. To the same there is a chance that the new party leadership of China will change the policy of crypto-currency salaries from October.

sooner they will realize they can't benefit anything by doing it. cryptocurrency is the future and the flow, they can either be left behind or lead the way. a simple decision made today can be a disaster in the future. else its going to be another race that will take their spot being a huge contributor in the crypto.

my opinion, because china has stopped their contribution to bitcoin, of course in china bitcoin will die. and I'm sure sooner or later chinese must be very sorry for having banned bitcoin in their country. because bitcoin progresses and greatly helps the citizens' economy

As we already know that they had banned bitcoin is past and then allow it and this will happen again Chinese cannot bear the lag in the development bitcoin has proved that it can survive without china and now Chinese are thinking to join again because they can just ban such a profitable coin and their citizens are also opposing their decisions and asking to remove the ban.

There may be some Chinese, Actively use bitcoin by itself secretly
Because previously they felt the profit of bitcoin

It seems that there is a small percentage of bitcoin hodlers and users left in china, since their government banned bitcoins, those who want to use bitcoins freelh, might have cashed in their bitcoin to fiat to move to another country that legalized.bitcoin, in which it will be much benefecial for them, since they do not need to hide.i think those persons in china that have still bitcoins, may have just kept their bitcoins on their offline wallets, like trezor, and just watch how bitcoin moves, and hope that this coming chinese election, their.government might hange their mind regarding bitcoin ans ICOs. As of now, there is a small chance that bitcoin will have a future in china until their ban is lifted, we could all just sit and watch what will the chinese government do, if othet countries out grew them financially because of bitcoin.

even china banned icos in their country i think theres no big effect on btc  ,there are many good alts existing already
so bitcoin would boom wherever country on this planet

Not need to be true. They have other option and they can easily exchange bitcoin in Japan. This is just some example but dont think that China is out of bitcoin, maybe government ban for good, but they will find a way to exchange it for fiat if necessary. Probably best option for they will going to Japan, but think that they are limited for cash in China or they didnt, know that in Europe is limit for this 15000 eur for a day.

 As of now.. the operation of bitcoins in China was stop... but in the near furure, they will open the operation of bitcoins again.  I think they are just laying the foundation as to the regulation of using it... they close it down because of lack in legal basis.. so for now... i believe they are drafting laws or ordinances to regulate the its use... so cryptocurrency has been accepted by many of the countries now... what China wants is just to control it a little bit... one of the reason i guess is how to collect income or VAT taxes for payment in services or goods being sold ...

I felt bad when bitcoin stops in China, they wan't to control this type of currency because there is big money behind processing transactions,and as early as possible this must be stop, Government in China show's something opportunity behind cryptocurrency , and until now they are on the stage of developing some counter measures to listen the use of BTC.

Don't understand why people are so concerned about the fate of the Chinese. I think you need to take care of themselves. But if you are very concerned, there is nothing the Chinese will not. How to use cryptocurrency, they will use it. Drugs are forbidden in all countries, but everywhere there are users and sellers of drugs.

There is no hold of china on bitcoin. there will be no effect of china on market in future, so no one has to worry about it, Chinese thinks that bitcoin will die but bitcoin is not depending on them, if they join again they will be user and they will be in their limits and will use it calmly, and Chinese effect is now gone and now they will not cause any trouble in coming days,

I think that China will use its favorite approach.
All will be used with the help of VPN. During the year, 2 or 3 people will be stratified associated with bitcoin. At the same time, they will offer an alternative to the government contraposed.

This approach works with Google, Fasebook and so on.

It looks like the new president might decide to go technological and lift the bans as he is pro tech from all accounts before the campaign

Who knows whats in their head, i've read somewhere on cointelegraph, i believe, that they will lift the ban after some elections or maybe after the attempt of regulation. We can just wait to know for sure.

Hello all! China is amazing country with super interesting historical moments and wise culture. China is one of more oldest culture in the world! I am sure that after some shake in bitcoin area in China it will be a new more powerful arena in the world. I see it like Big Four - China, Russia, Japan + others. If China stable this and it will be regulated in Juridical sphere then in will be hard fork