Bitcoin Forum

Hey everyone...

I just want to start a debate about your real opinion, feelings, toughts etc about the recent events going on with china rumors on banning exchanges and regulating ICO etc.

lots of news here and there .. but I would like to know what you guys really thinking ??


Real ??
Conspiracy ??
Fake ??
Misunderstanding ??

Anything you people think :) and also .. what do you think will be coming next ???? :)

 :o

DL
...............

In my opinion, real. I think probably the exchanges have been told either 'shut down or we will shut you down' or alternatively something along the lines of 'comply with x y z conditions or we will require you to close'. It will be a big hit to the market, however I wouldn't be surprised if China will somehow try to nationalise an exchange or create a national exchange so that they can more easily monitor what is going on and also profit from it. These are just my thoughts however and they aren't based on much.

A combination of Real and Conspiracy.

China obviously wants control of everything including BTC, and its market and reach is getting bigger every year. But a similar thing happened before in 2013 where China banned the change of Yuan for BTC and them days later putting everything back as nothing happened.

About a week ago Caixin reported that China is going to shut down all exchanges, BTCC and others exchanges announced that they haven't received any directives from Chinese regulators, yesterday BTCC announced that they would be stopping all trading by September 30.

From rumors, FUD, to confirmation by BTCC. Still the PBoC/Chinese government hasn't made any official statement regarding this, but the market has already taken the hit, and it is highly likely that China is going to shut down all exchanges.

Would it be a temporary shut down like what China did recently, pausing exchanges for four months? Would exchanges resume their services under new regulations? Would there be a government backed centralized exchange? We don't know, but sooner or later there would be an official announcement.

China's OTC exchange Bitkan suspended its services, but still there are other OTC/decentralized exchanges like localbitcoins or Bitsquare.

As other two big Chinese exchanges Huobi and OkChina confirms BTCC announcement, there would be further decrease in bitcoin price. And then it will eventually recover.

China banning on ICO and now their local exchanges. recently one of the biggest crypto exchanges in China announces that they will close in Oct 30.
This is just the way China will solve the problem about ICO scams they will just make a rule and regulations and will withdraw their decision after that.
The reason why is Bitcoin becoming mainstream and banning it in a country will not help but just a waste of time. Bitcoin is the future currency and no one can stop it

Though there was an article yesterday that the ban was a temporary one and they are trying to regulate cryptocurrency in other to make blockchain more better for their citizens. To me I think there is a strong conspiracy some were and the way issues are unfolding and comment by jp Morgan's president is very clear that banker,  elites,, politicians and government has an understanding to destroy bitcoin through social media attack on its reputation.

From all I have read, people in China use bitcoin to transfer money into other currencies and abroad.
On a larger scale. That capital is missing in the chinese economy.
What the government in China does is protecting its economy.
I see no conspiracy there, just a reaction on an existing problem.

Businesses and people in China have been using many methods to bring money abroad.
Manipulated import-export-payments and life insurances, for examples. China has closed those gaps, that's why people turned to bitcoin.
Now China is regulating problem they have with bitcoin.

So looks like Chine is doing a big cleanup for unregulated ICO and exchanges ... I personally think it is a good thing to clean the crypto for a better future

There is still some rumors about the mining now .. what can be regulated in mining ?


this will affect their economy so i am not sure if i understand that move ....

what are your toughs about that knowing that they own about 60% of the btc hashpower it will have a big impact ..



DL .........

Actually China is trying to regulate BTC and other altcoins. They are probably shutting down the exchanges so that they can either regulate exchange companies or open exchanges themselves. Indirecly we can infer that China recognizes BTC as a legitamate thing and not a scam as those bankers and elites suggest. Also when the exchanges open again its pretty obvious that the price of BTC will increase further up from the current price now as the trading volume slowly flows back.

 I believed China really wants to manipulate crypto currencies because they want to control it but they failed  because all cryptocurrencies is now back to normal and slowly recovering after the series of ban in China. If the chinese will able to control cryptos it will increase the nation fortitude and be economics superior all over the world.

I think fake,China had other problems to solve,bitcoin is not priority but i dont know why is reason to do that,China only have benefits to reduce poverty.