Bitcoin Forum

It seem china is taking its ban on crypto-currencies rather too serious, recent move involve restricting its citizens access to foreign exchanges.  Will this deter those really serious about 'breaking the rule'?


https://bitcoinmagazine.com/articles/china-blocks-access-over-120-offshore-digital-currency-exchanges/

Thats a kind of news no one will be interested. Now its all about the China again and I hate to see any news about them because they have banned the crypto 100 times in month and million times in a year. LOLZ.

We should not be worried about their bans anymore as this market is used to them and no one cares whats their next move is. They have made a joke of themselves by initially manipulating the crypto currencies and then later on putting mega ban on them within the country. Again they opens up doors for the OTC type of trades and then again they banned it and now again this news.

They are confused people man.

They've been doing the same thing for years, and IMO, China in the trading scene seems to be irrelevant now, though their miners remain to be a vital part of the whole bitcoin ecosystem. Blocking exchanges from their interwebs won't stop serious traders from China, if anything they might just send people out to do the trading for them. Serious investors want to make serious money out of bitcoin,  and why would they let anything block them from their source of wealth? They will find a way.

On one hand, this is the type of overbearing authoritarian policy one might expect from Maduro which ultimately led venezuela to ruin. Its a protectionist policy towards china's native currency the yuan. It will restrict innovation and growth which could be harnessed from crypto currencies. Similarities between china and venezuela in terms of government structure and policies could be evidence china will never become the world power the establishment imagines.

On the other hand, this could be justified as preventing capital flight. The ends justifying the means of preventing an outflow of currency through china's borders which could ultimately weaken its economy and impede growth.

And so this may be where jokes about economists and their hands come from.

Seriously im sick of this news of china trying to scare people with banning ICO's and crypto currencies from their country they've done this move a thousand times already no one is buying it. With so many bans in just a year why is it that their still one of the largest miners of crypto's in the world ? They'll only embarrass themselves not knowing that they can't control digital currency.

China is out of mind, the government even bans hotels from hosting cryptocurrency events and also block crypto related accounts on social media.
It's not really because of the cryptos industry itself, China has already a huge record of blocked websites (see Wikipedia) They make me think about the Amiches now

With all the statements above I totally agree in it as China always do the same thing trying to probably manipulate the market and it seems like they have a hidden agenda doing this kind of activities. Yes, China is a powerful country in any kind of business including in crypto and surely because of this news there would be another panic but just like last year this kind of news will only last for weeks and afterwards business as usual.

There is no panic, the news is 24h old and the market didn't even bother.
China is done for, nobody really cares what they are doing, they've "banned" everything a million times already, everyone is just tired of it.

They could go and ****, the days when China news influenced the price are long gone.


China was already out if its mind with bans this is nothing new.
They've banned jasmine flowers (https://abcnews.go.com/International/jasmine-flower-sales-monitored-chinese-authorities/story?id=13596774) ...what do you expect of them?

China is sometimes just a tactic. To say one thing, do another. And there are always opposite actions.

China keeps coming on the news again, are they not tired of fighting Cryptocurrencies? I hope they will give notices for these exchanges. China shouldn't be scared of Cryprocurrency, but can't tell why the Chinese government are always fighting Crpto.

China ban again. IMO, Crypto enthusiasts should look beyond China, sooner or later China will come around. I believe if we can survive for long with China ban in place, then the market is mature beyond China incessant bans.

They will be back once it will be too late to stay in the game or be industry leader. They are missing out, and it will hit them hard down the road. China bans bitcoin is history

We need to be less sensitive to this kind of news. It hurts the bitcoin value.
China will just keep banning and banning more things.
However, crypto is an independent world that do not rely on a single nation, government. When we do not care much about this kind of news anymore I think the price will go up.

This isn't surprising at all given their exchange crackdown and trigger happy firewall additions. Remember, this is a country that banned Winnie the Pooh because of memes lmao. They can get away with whatever whenever for as long as they can keep their economy afloat -- exchanges stand in the way of that in their eyes.


This isn't a new ban, just a fresh round of enforcement. The ban started last year.

Yeah it seems that the Chinese government is not a big fan of bitcoin. They do not have policies to support the growing of bitcoin and crypto currency. But bitcoin should be independent of a specific country, hopefully this does not impact on the crypto world too much.

News like these are creating panic in the market.

I think that doing this is to keep the economy under control, with their plans to make their own currency and as a direct rival to bitcoin, their actions are legitimate because the Chinese economy is very strong.

China is total oxymoron. They try to make their economy bigger. On the other hand, they try to ban/censor everything which threatens their government (not state). I think eventually this oxymoron situation will finish.

That's because they are trying to get their economy up while trying to remain in full control of everything.

I totally agree with you. However, I do not think that they will succeed. We will see whether I'm wrong or not within at most ten years.

They could enforce a small fee (0.5%, for example) on the exchanges that operate on legal basis and become both richier and in control as much as it's possible. It would be okay to make strict rules for ICOs and some requirements for exchanges, but banning is just ridiculous, because it will simply make businessmen leave the country and go help the economy of another one by building something successfully and paying taxes for profits. What is good, though, that at that time the news didn't affect the price in any way. I guess people are too sick of Asian market news causing huge price dumps, so they don't really care anymore.

If to speak more globally, why China prohibits ?
There is such a thing in the economy as the outflow of capital. If large investors withdraw from the yuan country, the country will experience an outflow of investment outside the country. In the Communist society of China, the main prerogative is the development of the economy of the country, not its neighbors. For this reason there are disagreements in the power. Some believe that it will be better, and the party believes that it is not right. If we talk about my attitude,  Let me give you an example.
So Look, I'm a collective farmer, raising Pets. It's time for me to sell my cows. I am looking for the highest markets, where the price is the most favorable for me. I found in another country, 100km from me a very favorable price. I go to sell my fresh meat, and they say to me: "Farmer, where are you going? you in our country only should sell!"And in our country it is not so profitable. Low price....
here's an example of the Chinese economy...

Well nobody surprised anymore, it's already a lot of times China making the headline news by banning crypto or exchanges,but in later they will loosen the banning and allowed the transaction again, the government want to get control but too afraid to try, so the banning is on and off

This is not good at all for cryptocurrency. The Chinese have a very huge population which could have helped in promoting and funding cryptocurrency. I hope they reverse the ban.