Bitcoin Forum

Why has china banned its local coin exchanges in the past few days the value of bitcoins has fallen can this adversely effect the bitcoin market ?

Well I think there is no need to worry about china banned because as a replace bitcoin is now acceptable to many countries and day by day countries are going to increased and I’m sure end of the year some more countries will accept bitcoin and it’s also legal in such a big countries as well so I think if china completely banned bitcoin so nothing will happen to its popularity and to its price as well because bitcoin is now very stable with high price.

We do not have to worry about it.

I just think that we have to make a decentralize,
A real peer to peer exchage under blockchain itself and people could run it anywhere.

Ok, lets say we have peer to peer,
A gateway for fiat - crypto is needed.
There shoud be a way,
I think that we have to seek the solution before more goverment blocks it

China has banned or closed down local bitcoin trading platform quite long ago so this is really old news which might not affect market right now.
https://www.forbes.com/sites/kenrapoza/2017/11/02/cryptocurrency-exchanges-officially-dead-in-china/#2ea648e92a83

Price have already corrected from this shutdown fomo...

Oh what the fuck, are you serious? Bitcoin has not been going down, it has only been increased during the last few months, are you using Internet Explorer? You seriously have the information a little bit delayed because all this thing happened more than one month ago.

And bitcoin is upto $8700 each one at the moment, all those news happened when bitcoin was over $6000 each one, you are very outdated mate.

Of course that this is happening because all the government from China only want to create a new coin and they want to be the only ones who can control it, it means that they want to have a centralized cypto.

This might be the reason why in the past 2 weeks there were 100 thousand unconfirmed transactions in the Blockchain. Most affected are those who are into investing, their withdrawals were put on hold. Well, as of now, it came back to normal. It regains its composure again.

No,it has nothing to do with unconfirmed transactions in the blockchain a few weeks ago,
Chinese banned their local exchanges to trade Bitcoin a month or two months ago,
and the real problem that caused a lot of unconfirmed transaction in the blockchain is the miner.
most of them moved their hardware/mining tool to mine Bitcoin Cash,that is why the confirmation take a long time to get confirmation.
the reason the moved it to BCH because they knew about the fact that it will get pumped so hard,
afterward they moved it back to Bitcoin until now.

What worries me more than the price of bitcoin if china bans it is that around 90% of the mining is being done in china if Im not mistaken. So what will happen to all the miners if china bans bitcoin? Does that mean that if they suddenly completely prohibit bitcoin, that the whole blockchain could crash from one day to another? Please enlight me if I got something very wrong here.

That's a pretty old news! Why suddenly you brought this up after so many days. I believe, it is overall good for the crypto currency market. Chinese people are very manipulative in nature and their exit had a positive impact on the bitcoin market. Even though China hasn't yet banned holding bitcoin, but with new adoption news almost on a daily basis, will eliminate the need of Chinese people being in the crypto currency market.