Bitcoin Forum

South Korea indicates it may follow suit. Those are two of the biggest crypto markets in the world.

It's pretty obvious why the market is collapsing and has been ever since those countries announced they are cracking down. Without the Asian market bitcoin is doomed.




China's Shutdown Of Bitcoin Miners Isn't Just About Electricity
https://www.forbes.com/sites/sarahsu/2018/01/15/chinas-shutdown-of-bitcoin-miners-isnt-just-about-electricity/#5c772bc4369b


BITCOIN TRADING 'COULD BE BANNED IN CHINA' AS THREAT OF ASIAN MARKET CRACKDOWN PUSHES DOWN PRICE
http://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-china-exchange-ban-cryptocurrency-trading-government-a8161721.html

First of all, bitcoin is safe, if you keep your private key properly. Secondly, bitcoin's anonymity makes it have a large user base, so the value of bitcoin is the source and everyone's approval, which also marks that bitcoin is almost impossible to disappear。China is only part of the bitcoin user population, bitcoin does not belong to China, bitcoin belongs to the world

Hello. what has happened to China? what decisions have they made on bitcoin? I saw that bitcoin grew very much. did they accept the bitcoin in the end?

Nope bro as of now. Those shit mind Chinese government ignore the bitcoin trading. You may aware of BTCC trading site demolishing right. Still they are doing like same all the time as of now. I wish forum moderators and all the crypto sites should ban the IP hit from China.
You can find the China do not want any world market like Youtube or Google or anything. This is the same thing they have done to crypto currency. If the crypto community made the IP ban for Chinese only they can understand screwing what they do for the whole world.

You shouldn't be panic with the news, there's no way a government can control btc (crypto? .... It just a matter of time, everything gonna get be fine with crypto

China and South Korea, both countries were giving such indications since last few weeks. Even though nothing has been materialized yet, but we need to be mentally prepared for this thing. If they starts cracking down the mining operations, then we will see a huge impact on the bitcoin network and millions of transactions will be queued up again pushing the network fees to the highest possible extent. But that situation will be temporary. It will filter out a large chunk of Asian users from the bitcoin market. Probably that is the reason why the bitcoin market is not going beyond 13 k. But I am sure, if it happens, market will initially see a major impact on bitcoin price, but it will be recovered soon enough. So long term users can maintain their positions and also try to buy at a lower price to average out the investment price.

You have no idea the level of control the Chinese government is able to exert.  It's quite scary.  It'll never completely stop BTC but it's effectively eradicated a large % of the population ever using it.  I don't hear many good things about it coming from the Chinese.

I think they have the Philosophy before that they can't hold bitcoin that much but they are not against about blockchain so they have the rule or idea to create new token using their platform.

I agree with you, long-term traders will definitely use this opportunity to buy the coins on their ATL and then after 3 months, sell it during the ATH making bigger profits. Most of the newbies will most probably end up doing a panic sell at this point without understanding the logic behind Crypto.

Instead of thinking about all this we could actually look for solution to make it recover .. well bitcoins are not acceptable in the eyes of law in many countries but that doesn't mean that it will die down if the biggest markets stopped supporting it.

Whatever will happen will be transient and soon enough the Bitcoins price will recover, one cannot see it dying with just that move, it's .. something that is gaining support world wide thus we can have a little bit trust here.

People please realize china is a communist country and as such should never be taken seriously. This is just shit news. You can't crack down on things like this. Where there is a lot of money there is alot of power protecting that money. Besides think of it as a good thing. People always moan that China has a massive advantage and they can't compete well if the stop minig in China that is good for miners in outher parts of the word since china get the miners first and have cheap electricity while the rest of the world waits for the next shipment of miners.

A good trader sees the good in every situation no matter how bad.

China is crap, do you just realize it now? We always knew that, anyway, they one of the 1st potencies or the entire world, so yes, they are very powerful at the moment and they can do whatever they want.

For me, it is good, but they are using their power in a very bad way..

I talk a bit about it in my YouTube video https://www.youtube.com/watch?v=zE3IhsSrAOg&t=0s

Haven't they done this last year as well? It's like every time btc takes a deep they want to  make it illegal.

If they keep doing this year by year is going to be hard for us to take them serious.

We must support btc to make as a legal, so that other countries may also adopt this kind of financial aspect

Yes but first of all you cannot fight big brother and second of all as long as you have internet you can use it without a problem so you don't have to fight anyone because of it.

The cracking down of Bitcoins in China and South Korea would definitely have some effects on Bitcoin market due to their population size, but I don't think it can completely ruin Bitcoin out of the system. This is because Bitcoin is a decentralised currency uncontrolled by any central government; however ban in some part of the world cannot affect the entire market

China and most east Asia countries are very tough when it comes to anti money laundering and drugs. Bitcoins and altcoins which gives room for people conceal their funds has attracted their attention so the recent crack down. until any improvement in anoymous nature of crypto, the government in these countries wont backed down.

This is not about panicking, it's about crypto mining and I don't do think that even if the government bans the mining. People who really wanna mine will either go to another country.
Or maybe will keep doing it in the same place but illegally.

This is not easy job as many countries have own policies and they want implement them without any problem and they can do any thing with force currently China factor is very important in this market just because of this many peoples taking these news very seriously

Yeah, I've seen like 10 similar posts this week. China embraced Bitcoin as one of the first countries in its early stages. If they bail on it now, it will no rational reason.

Honeswho cares about China anyway. Let them do their own thing and ruin their own country and leave us a ut if it. If anything china is bad for us when it comes to Bitcoin. Having them out the picture is a good thing bit a bad thing. So bitcoin drops in value so what? It's more easy to mine if China shutdown Bitcoin mines so we well get more bitcoins rather then china have them. So it doesn't matter it all works out as a ratio of Bitcoin vs value. We will just but China's bitcoins from them. 

Recent volatility in the cryptocurrency market and especially bitcoin have been deeply affected by China. Large Chinese investors are dominating the market, and that has made investors' sentiment pessimistic. The Chinese government is having a pretty tense strategy for bitcoins and crypto, but I have learned they are quietly creating new coin made in China to confirm their position. Be careful when investing in the crypto market this time around, things are going quite complicated.

South Korea already denied it so that's definitely not true. And China is probably fud as usual.

The problem with China is that they have set the first major step already having their exchanges shut down, where they even made miners already look out for different locations for their mining farms.

I think that at some point China might impose a total ban affecting each and every aspect having to do with crypto currencies. It will however not work entirely since people know where to go to buy and sell Bitcoin anyway.

At the moment the Chinese government said to shut down the exchanges there, local Bitcoin markets have seen their usage shoot up like never before, and more sanctions will only push people further away.

china was fun but now their party is over..

you only need some semi adoption and acceptance from  1st world countries US, UK, EU, CAN, JP, to push btc to 50k or perhaps 100k or far greater

china started taking too much of the BTC pie anyway both mining and holding

blockchain and crypto currencies are here to stay...

I think icos caused the real concerns here and those will in future be the main targets for the regulators and don't think they wont take a retrospective view

china may get back in the game later once they have firm regulations/methods in place to ensure it provides them with what they want.

Dont  be panic with that types of news  It just a matter of time  everything gonna  be fine . btc always strong currency rather than any other crypto currency.
so many panic sale happen last few days so that price lil bit down . i hope btc comeback asap

We need not have to worry much about China decision as already it has lost its significance in bitcoin market and South Korea decision too would have only small impact on bitcoin price as still there are users around the world who act as buy walls.

The Asian market has a huge influence on the crypto currency market simply because of the huge population,just imagine the amount of people living there,just take for example in the case of China,billions of people and it will make a huge difference,Korean and China put together will be having a much bigger population if you take Europe put together and so is the case with crypto currency market. If they impose a ban the people will find an alternative solution and the volume will shoot as before.

    Lol. They are just a small percent compared to us. So don't worry. It will obviously be their loss not ours. They are the ones that are gonna be missing out. I see this price drops in the markets as big opportunity to buy more and hold bitcoins. And seriously , bitcoins cannot die that easy  because a lot has has beej a fan of this coin and if the lightning network comes, then obviously,  the prices will be cheaper and fast your hands.

Although China prohibits bitcoin transactions, bitcoin is still invested in the Chinese market. Therefore, it is believed that with the development of bitcoin, the Chinese government will try to accept bitcoin.

China is looking for an excuse to get bitcoin out of China because the central bank is afraid that bitcoin will affect the renminbi. Bitcoin is a decentralized currency,it is limited in number and very secure and this is the real sacrosanct Private property. When the yuan began to devalue, people would choose bitcoin for hedging, and even bitcoin would replace the yuan, so the central bankers were very scared, and they wanted to get rid of this dreadful thing quickly.

This sums it up...

http://lambodreams.com/2018/01/22/china-bans-cryptocurrency-for-the-fourth-time-this-week/

There's a lot of people saying that this is a form of manipulation by the Chinese government. Arguably, a government wants to have control over their currency. Cryptocurrencies are unregulated, and the government may want to crack down on illicit transactions, or currencies that might threaten their own currency.

If you think China is acting in good faith, they are trying to protect their citizens from being scammed. If you think China is acting maliciously, they are trying to manipulate the price of Bitcoin and other cyrptocurrencies for their own benefit.

First of all, it is a relatively safe assumption that these news of China and South Korea contemplating on cracking down Bitcoin will have a negative impact on its price, especially seen in the recent dip of its price. Taking this into account, you should not downplay the growth of Bitcoin because even though these are big players in the cryptocurrency market, there are also other factors to take into account, such as those countries who have accepted Bitcoin as a financial market in their industries. Given this, you can find a balance between those negatively affecting Bitcoin with those positively affecting Bitcoin and see a middle ground on how these can impact the growth of Bitcoin.

Yes, the Chinese government is banning all encrypted money!
They are afraid that BTC will take away Chinese property, and fear that people will transfer property through BTC!
China has a large population, and if the BTC is used to do illegal things, the consequences will be very serious!

As long as there are money to be made, then the Chinese people will be involved. They also have a scam/cheat culture, where it is acceptable if it is done to tourists and if you can get away with it. You only have to visit some of their major cities to experience it for yourself. <The Great Wall Scam or The Tea House scam> It is all about getting money to flow towards China and building their economy and if you can get that from foreigners, then it is a WIN/WIN for them. ^grrrrrrr^

I guess the Chinese government is try to centralised the bitcoin wallet which to me is bad idea to the crypto World