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Title: China will completely ban bitcoin Post by: chek2fire on September 16, 2017, 01:07:59 PM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall.
https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Title: Re: China will completely ban bitcoin Post by: mk4 on September 16, 2017, 01:23:41 PM For the readers out there, this is still UNCONFIRMED. Though I personally think this is really really possible.
I understand that China can easily ban bitcoin exchanges from their firewall, but I don't know how they're gonna totally block p2p network from their "great" firewall. About the Chinese miners though, I'm pretty sure they're gonna need to spend a good amount of money to oppose the Chinese government in court. Jihan's probably gonna need to move to another country LUL. Title: Re: China will completely ban bitcoin Post by: pseudo_geek on September 16, 2017, 09:21:40 PM Blocking the bitcoin protocol seemed to be quite easy for the GFW.
The bitcoin protocol has a magic value while establishing TCP connection: 0xD9B4BEF9. Title: Re: China will completely ban bitcoin Post by: batang_bitcoin on September 16, 2017, 09:29:06 PM I have read the replies from the tweets and some comments said that this news is still not confirmed and don't believe on it.
I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china So true, they mostly focus on the block size debates and really they didn't see this coming. Does anyone knows if Jihan has been commenting on this issue or he's still quiet after all of this? Title: Re: China will completely ban bitcoin Post by: casinolize.com on September 16, 2017, 09:37:09 PM may be it can happen.
Title: Re: China will completely ban bitcoin Post by: AgentofCoin on September 16, 2017, 09:39:40 PM ... Anyone who thought China would be a friend to Bitcoin was delusional. This was always anticipated. This is the beginning of birth pains. This is when the actual experiment begins. I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Chinese Miners will just switch to a government approved coin if restricted by the Great Firewall. It is more probable that Jihan and others knew this would occur all along, and kept it hidden from their customers and the world, and thus why they created Bitcoin Cash. In China, nothing is coincidence. Title: Re: China will completely ban bitcoin Post by: gandame on September 16, 2017, 09:40:04 PM I think its not confirmed yet, they ban ico project but the bitcoin ban not yet sure.
And china can do it if they want to ban bitcoin to their country. Title: Re: China will completely ban bitcoin Post by: ninche on September 16, 2017, 09:41:15 PM if it is true,bitcoin will die soon
Title: Re: China will completely ban bitcoin Post by: hatshepsut93 on September 16, 2017, 09:44:37 PM It's quite possible, since China already has the technology to block certain sites effectively filtering Internet traffic. This would lead to a harder price drop, as it's much harsher than banning exchanges themselves, but Bitcoin was designed to operate in very hard conditions, including nation-wide bans. Such ban would never be able to cut the whole country from the Bitcoin network, because even one link is enough to keep Chinese users in sync with the rest of the world.
Title: Re: China will completely ban bitcoin Post by: BCMB on September 16, 2017, 09:45:43 PM Anyone who thought China would be a friend to Bitcoin was delusional. This was always anticipated. This is the beginning of birth pains. This is when the actual experiment begins. Agreed, China has crazy monetary policies, and they do NOT want their citizens taking money out of the country. This was inevitable. That being said, this won't stop the Chinese from using Bitcoin for that purpose, it will just go underground. Title: Re: China will completely ban bitcoin Post by: alex_rada on September 16, 2017, 09:47:27 PM if it is true,bitcoin will die soon I don't know if you are serious but I sincerely hope you are just sarcastic. At most, this is going to be a temporary setback for Bitcoin and a major loss for China, which had a head start in the crypto field. The lost miners from China will gradually be replaced and trust me there are a few players out there whom can't wait to fill the spots left empty by the Chinese miners. Title: Re: China will completely ban bitcoin Post by: illyiller on September 16, 2017, 09:49:34 PM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Very interesting turn of events. I have to say, this really blindsided me. But let's keep in mind that this report is not confirmed. For now it's just a picture of a printed out piece of paper -- anyone could have put this out there. Also, there are mixed reactions. Samson Mow (formerly BTCC, now Blockstream) tweeted that he think it's true: Quote High probably of being true. https://twitter.com/Excellion/status/909000668345757697Many other people are saying that this is photoshopped image from 2013. I can't find any proof yet from comparable images. Clearly the exchanges are shook -- Huobi and Okcoin are now ending all crypto trading (not just CNY pairs). Could they really be trying to ban BTC? Seriously.... China banning BTC? The meme is coming true!? ::) Title: Re: China will completely ban bitcoin Post by: no0dlepunk on September 16, 2017, 09:51:04 PM I have read the translations and I am not really concerned with the Chinese at the moment. What concern's me a lot are those noobs from all over the world who will definitely sell on panic. Can the entire world possibly give China what they want? If they want to isolate themselves to us then do so. I mean if they would like to stop exchanges from operating then just close it without putting it on news.
If only the world would resist, then China couldn't harm the bitcoin. Why don't we all unite and boycott Chinese products from now on? Let them feel their own walls. Title: Re: China will completely ban bitcoin Post by: grermezter on September 16, 2017, 09:52:55 PM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. This action is not going to fly at all and from what i heard this issue is totally about licensing the Chinese cryptocurrency exchanges and had nothing to do with banning bitcoins or anything at all. If they want to ban their citizens from using bitcoins, they should do so already, bitcoins is not going to die because of the Chinese and they should get out of it before they cause any problem because we all know the Chinese are mischief makers. Bitcoin will not die.https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Title: Re: China will completely ban bitcoin Post by: kwaasteniet on September 16, 2017, 09:56:09 PM The Chinese bans everything they consider to be a threat... So most likely it will get banned.
Title: Re: China will completely ban bitcoin Post by: Shinpako09 on September 16, 2017, 10:07:03 PM if it is true,bitcoin will die soon Why? was china the only btc user in this world? definitely not. We're still here and as long as there is a user, btc won't die. If the price will fall, so be it. Let's just buy their btc if they dump it and for sure price will goes up again in the right time.Title: Re: China will completely ban bitcoin Post by: digicoinuser on September 16, 2017, 10:17:38 PM Haven't done any research on it yet but is "The Great Firewall" the technical name of their solution or a catchy name people use for it? I saw GFW in the translation and assume they meant "Great Firewall". :)
Title: Re: China will completely ban bitcoin Post by: AgentofCoin on September 16, 2017, 10:30:30 PM Anyone who thought China would be a friend to Bitcoin was delusional. Agreed, China has crazy monetary policies, and they do NOT want their citizens taking money out of the country. This was inevitable. That being said, this won't stop the Chinese from using Bitcoin for that purpose, it will just go underground.This was always anticipated. This is the beginning of birth pains. This is when the actual experiment begins. I agree, it will go underground and that is where the real tests and creativity will be. Even if their government is able to monitor and control internet traffic for the purpose of restricting Bitcoin transmission or whatever, they will not be able to stop loaded OpenDime devices and other such things. When this occurs, we may all hear and read about Chinese citizens returning from abroad with dozens of loaded OneDimes up their anuses. Then, they will not only smuggle drugs in for entertainment, but bitcoins for freedom from oppression. The question then becomes, which will receive the more severe punishment? Drugs or Freedom? People may not wish to die for drugs, but some shall for Freedom. Title: Re: China will completely ban bitcoin Post by: Sharma on September 16, 2017, 10:39:27 PM For the readers out there, this is still UNCONFIRMED. Though I personally think this is really really possible. Most of his users are drom China and if they cant use btc,what will Jihan do even if he moved to another country.Is there any chance Chinese exchanges and mining firm are behind this to make btc cash more popular?I understand that China can easily ban bitcoin exchanges from their firewall, but I don't know how they're gonna totally block p2p network from their "great" firewall. About the Chinese miners though, I'm pretty sure they're gonna need to spend a good amount of money to oppose the Chinese government in court. Jihan's probably gonna need to move to another country LUL. Title: Re: China will completely ban bitcoin Post by: bustomi on September 16, 2017, 10:44:49 PM That was big news about bitcoin, and it will be affecting market price so bad, so just be ready to cutloss ;D
Title: Re: China will completely ban bitcoin Post by: Kaller on September 16, 2017, 11:18:55 PM China will not ban Bitcoin, they are the last country that would do this. They are playing games with us and manipulating their currency to profit off our stupidity, and sad to say we fall for it every single time.
Title: Re: China will completely ban bitcoin Post by: DoublerHunter on September 17, 2017, 12:49:12 AM China is not the only country that is a huge contributor of volume and also things on bitcoin because we got Japan which makes bitcoin as a legal currency in the past months and that means that they are taking bitcoin seriously and we might see a great future of bitcoin with Japan because it is one of the wealthiest country in Asia.
Title: Re: China will completely ban bitcoin Post by: aeternus on September 17, 2017, 12:56:59 AM For the readers out there, this is still UNCONFIRMED. Though I personally think this is really really possible. Correct, it is unconfirmed but I think it is completely possible that something like that happens, China is not about free enterprise, they want to control every aspect of the life of their citizens and bitcoin allows them to circumvent China restrictions, so to me it is just a matter of time before that happens.I understand that China can easily ban bitcoin exchanges from their firewall, but I don't know how they're gonna totally block p2p network from their "great" firewall. About the Chinese miners though, I'm pretty sure they're gonna need to spend a good amount of money to oppose the Chinese government in court. Jihan's probably gonna need to move to another country LUL. Title: Re: China will completely ban bitcoin Post by: Pablo778 on September 17, 2017, 01:08:37 AM For the readers out there, this is still UNCONFIRMED. Though I personally think this is really really possible. Correct, it is unconfirmed but I think it is completely possible that something like that happens, China is not about free enterprise, they want to control every aspect of the life of their citizens and bitcoin allows them to circumvent China restrictions, so to me it is just a matter of time before that happens.I understand that China can easily ban bitcoin exchanges from their firewall, but I don't know how they're gonna totally block p2p network from their "great" firewall. About the Chinese miners though, I'm pretty sure they're gonna need to spend a good amount of money to oppose the Chinese government in court. Jihan's probably gonna need to move to another country LUL. Title: Re: China will completely ban bitcoin Post by: lqkfamily on September 17, 2017, 01:12:41 AM Without the influence of China, it is better off for bitcoin to grow.
Title: Re: China will completely ban bitcoin Post by: savioroshan on September 17, 2017, 01:49:58 AM Oh, if that's the case then we may see a drop in bitcoin price in the coming days. Many variety of news about bitcoins are coming from medias and sites. Let's wait and watch what Chinese government is actually going to do. I am sure Chinese people will find some other way to exchange their coins. And I don't think, it will affect big miners because they will definitely relocate their mining farms to some other part of the world and they can do that very easily because they have got money in their pockets.
Title: Re: China will completely ban bitcoin Post by: bigboi.chabba on September 17, 2017, 01:58:49 AM China want to block bitcoin because they are not getting from it.
Based on the news, bitcoin price dropped around 500 USD after China released a statement on planning to completely ban bitcoin exchanges. But I think they will not banning it. Rather, they are just saying it to get something from it and manipulate the bitcoin exchange because they want to get a return with this thing. Title: Re: China will completely ban bitcoin Post by: erick94 on September 17, 2017, 02:52:11 AM although it was a decision from the Chinese government and certainly made the price of coins very drastically lowered the price of bitcoin but we still have to appreciate every decision of the Chinese government. because whatever it has included the best decision of the Chinese government itself. hopefully there will be decisions and policies favorable to China related to the ban on bitcoin transactions.
Title: Re: China will completely ban bitcoin Post by: NiftyX on September 17, 2017, 03:16:44 AM Wasn't there some talk about trying to get a satellite up and running that would run transactions, thereby bypassing the need for hard networks (like China) that can be regulated? I know the costs of something like that are high, but so are some peoples investment in Bitcoin and blockchain technology. I think the demand is there, just getting the means to do it.
Hah, people ask "where is the future?" Pirate satellite networks :D Title: Re: China will completely ban bitcoin Post by: jtipt on September 17, 2017, 03:19:59 AM if it is true,bitcoin will die soon Just because China is against bitcoin doesn't mean it will die. It will surely be a setback for bitcoin as a lot of miners were Chinese. And honestly I don't think China will even succeed in baning BTC, a firewall!? Can just a firewall stop BTC? I don't think it can. Title: Re: China will completely ban bitcoin Post by: cpfreeplz on September 17, 2017, 03:23:08 AM ... Anyone who thought China would be a friend to Bitcoin was delusional. This was always anticipated. This is the beginning of birth pains. This is when the actual experiment begins. I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Chinese Miners will just switch to a government approved coin if restricted by the Great Firewall. It is more probable that Jihan and others knew this would occur all along, and kept it hidden from their customers and the world, and thus why they created Bitcoin Cash. In China, nothing is coincidence. Yes! This had to be known by them and there had to be a motive for creating BCH. There's no way they screwed up this badly. As for the government coin, I doubt that would help their citizens at all (obviously). At that point they might as well just use fiat. Title: Re: China will completely ban bitcoin Post by: pinkflower on September 17, 2017, 03:30:22 AM All BTC exchanges outside of China should start stemming off from the prices of BTC in the Chinese exchanges. Everyone already knows that they are the only part of the BTC world in crisis. All the rest are just ok and its business as usual.
Bitcoin doesnt need China but the Chinese people will need BTC. Title: Re: China will completely ban bitcoin Post by: Sithara007 on September 17, 2017, 03:43:24 AM China will not ban Bitcoin, they are the last country that would do this. They are playing games with us and manipulating their currency to profit off our stupidity, and sad to say we fall for it every single time. They are unlikely to ban Bitcoin, but you can expect very tough regulations to appear soon. Because as you said, the Chinese are masters in currency manipulation and they don't like any currency which they can't manipulate easily. Even earlier they have attempted to manipulate the Bitcoin prices, by artificially inflating the transaction fee. Title: Re: China will completely ban bitcoin Post by: Sanchoni25 on September 17, 2017, 04:15:16 AM China is not the only country that is a huge contributor of volume and also things on bitcoin because we got Japan which makes bitcoin as a legal currency in the past months and that means that they are taking bitcoin seriously and we might see a great future of bitcoin with Japan because it is one of the wealthiest country in Asia. Funny thing is Japan has the second highest national debt in the world with ~ 10 trillion $ and it's the only country in the world where it's debts are more than twice the size of the GDP. It's just another huge bubble waiting to pop. Nobody can stop Bitcoin (except a worldwide EMP - so yeah good luck with that) and if China really bans it this will just increase it's value even more in the long run because humans actually tend to want most what they are not allowed to have. The corrupt banks and their fraud banking system have to die and unless that happens we can never have world peace. Title: Re: China will completely ban bitcoin Post by: krishnapramod on September 17, 2017, 04:29:56 AM Anyone who thought China would be a friend to Bitcoin was delusional. Agreed, China has crazy monetary policies, and they do NOT want their citizens taking money out of the country. This was inevitable. That being said, this won't stop the Chinese from using Bitcoin for that purpose, it will just go underground.This was always anticipated. This is the beginning of birth pains. This is when the actual experiment begins. I agree, it will go underground and that is where the real tests and creativity will be. Even if their government is able to monitor and control internet traffic for the purpose of restricting Bitcoin transmission or whatever, they will not be able to stop loaded OpenDime devices and other such things. When this occurs, we may all hear and read about Chinese citizens returning from abroad with dozens of loaded OneDimes up their anuses. Then, they will not only smuggle drugs in for entertainment, but bitcoins for freedom from oppression. The question then becomes, which will receive the more severe punishment? Drugs or Freedom? People may not wish to die for drugs, but some shall for Freedom. That is quite a revolutionary perspective, ideology. If China completely bans Bitcoin then that definitely would be a heavy blow to Bitcoin. So far Bitcoin has survived quite a lot of obstacles, be it internal politics or attacks by prominent individuals/institutions, but Bitcoins antifragility would be put to real test when a country like China which accounts for around 20-30% of trade volume and more than 50% of mining decides to ban/block Bitcoin through GFW. As Bitcoin gains popularity, it's decentralization would be intact, but governments would start imposing heavy regulations on it or a few governments would decide to ban it, either way Bitcoin would survive. The latter would slow down Bitcoin adoption. So far there hasn't been any official announcement from the Chinese government. We don't know is it going to be a ban or the exchanges would resume their services after obtaining licences. Too much news is being circulated to differentiate between what is real and what is fake. Title: Re: China will completely ban bitcoin Post by: noictib on September 17, 2017, 07:33:05 AM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. Here i don't think that the government of the China will ban the bitcoin exchange because they take tine for one month , here you can understand well that why they put the descion on pending for one month .https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Ofcourse they want to put the bitcoin exchange and another Cryptocurrency exchange in the regualed ways . And also here a big factor is that why they will not ban , as the population of the china is big , so to get job for them will not be easy task and that will be result into down of the economical growth of the country . So here possibilities are only to regulate strictly , so that no one can use it for scam and people can invest in controlled amount . So here we should leave all types of rumros about the ban of the bitcoin exchange like system and ban of btc . And work perfectly in the bitcoin and other cryptocurrency . Title: Re: China will completely ban bitcoin Post by: rjbtc2017 on September 17, 2017, 07:45:05 AM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. Is this confirmed? Then this would be a great lost to the miners on china. Chinese Government really want to control their country with full control. Bitcoin could be really a great threat to them, by this (if it is confirmed) we may see another fall on price but will take over again. Even if china ban bitcoin it will not affect bitcoin permenantly since we have a large support groups and communities who supports bitcoin's blockchain. https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Title: Re: China will completely ban bitcoin Post by: ViceOfBTC21 on September 17, 2017, 07:55:54 AM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. Is this confirmed? Then this would be a great lost to the miners on china. Chinese Government really want to control their country with full control. Bitcoin could be really a great threat to them, by this (if it is confirmed) we may see another fall on price but will take over again. Even if china ban bitcoin it will not affect bitcoin permenantly since we have a large support groups and communities who supports bitcoin's blockchain. https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china But remember that you will wait long time until blocktimes get normal (10 minutes). This is why they must block EXACTLY when there are few blocks left. Otherwise it will kill bitcoin. Title: Re: China will completely ban bitcoin Post by: hua_hui on September 17, 2017, 08:09:43 AM It is not the first time that china is trying to do this. It has been tried before years ago and bitcoin bounce back hard. The government already has knew about this and they knew that bitcoin can be stopped completely. So they instead target at exchanges and ico. This wont totally stop people but at least it makes it difficult for the people to buy and sell bitcoin. However, there is also possible that china crypto currencies can work together with china so they can be self sufficient.
Title: Re: China will completely ban bitcoin Post by: TrueAnon on September 17, 2017, 08:17:10 AM China won't ban bitcoin. They put a temporary ban on ICO's until they are regulated. Don't believe any unverified stuff until it's been verified ::)
Title: Re: China will completely ban bitcoin Post by: kpcian on September 17, 2017, 09:21:28 AM No, it will not happen in the future. though Bitcoin is being accepted in some developed countries so that China has taken it seriously in terms of regulating. when they have an intention to regulate so that they will allow Bitcoin as a legal currency. The Chinese government is surely known that a lot of Chinese people is involved in this platform. so they should not ban this platform.
Title: Re: China will completely ban bitcoin Post by: jubalix on September 17, 2017, 09:29:50 AM when has decreasing supply (banning something) ever driven price down?
Chinese can get thier money out. They will find way to by BTC through other countries Title: Re: China will completely ban bitcoin Post by: MSZCoin on September 17, 2017, 09:40:39 AM China gonna divide into North China :D
Title: Re: China will completely ban bitcoin Post by: aplistir on September 17, 2017, 09:42:45 AM I don't know how successful they would be in banning mining with the great firewall.
In my opinion, miners could continue searching for the next block (mining) even without internet connection... They only need to get the info of what they are seeking, and then transmitting the result to the other side of the firewall once they do find the next block. This could be done with email, or even by phone. Would make things a little more complicated, but not impossible IMO Title: Re: China will completely ban bitcoin Post by: megynacuna on September 17, 2017, 09:56:51 AM when has decreasing supply (banning something) ever driven price down? Chinese can get thier money out. They will find way to by BTC through other countries Exactly, it's going to be the Chinese government's own loss if they effect a ban on the exchanges and since the internet is readily available worldwide there will be ways around buying bitcoins from other foreign exchanges without depending on the local Chinese exchanges. Title: Re: China will completely ban bitcoin Post by: Juggy777 on September 17, 2017, 10:01:49 AM Let them do it, in the past China was rulling the market, but recently it's share is just 10% approx, and even if it's goes these traders can trade and mine from Hong Kong, Japan. China is jealous of Bitcoins, they have tried their best but looks like Bitcoin is dumping them and moving on for good. This was always to be, and I am glad they can't influence it anymore. The only thing is people always believed China to be corner stone for Bitcoins, but now people realized that's it's no longer the main focal point. Our glory days are coming, hold on to your coins we shall make merry in this period.
Title: Re: China will completely ban bitcoin Post by: Jully Bells on September 17, 2017, 10:07:09 AM On the 9th of September a mainstream financial news report from Caixin announced that the top three Bitcoin exchanges in China would be closed down, in an article titled “The end of the virtual currency exchange era.” On Friday, the two largest Chinese cryptocurrency exchanges, OKCoin and Huobi, each made announcements, at roughly the same time. In similarly-worded statements. Both companies posted announcements on their respective sites, clarifying that they would each close the yuan trading part of their business as of October 30, and encouraged all customers to withdraw their fiat currencies as soon as possible.
Title: Re: China will completely ban bitcoin Post by: hardycoorps on September 17, 2017, 10:12:37 AM bitcoin algorithm is very difficult to trace because it is anonymous, so do not be afraid it will happen in china
Title: Re: China will completely ban bitcoin Post by: Dafar on September 17, 2017, 10:16:34 AM They will regulate bitcoin market (with the exchangers)
Title: Re: China will completely ban bitcoin Post by: Manchesterbiru on September 17, 2017, 10:18:29 AM since China already has the technology to block certain sites effectively filtering Internet traffic. This would lead to a harder price drop, as it's much harsher than banning exchanges themselves, but Bitcoin was designed to operate in very hard conditions, including nation-wide bans
Title: Re: China will completely ban bitcoin Post by: alyssa85 on September 17, 2017, 10:22:48 AM if it is true,bitcoin will die soon Not really - there are miners outside of China you know, and the difficulty will drop if the Chinese miners bow out. Japan's GMO internet group has already said it wants to do mining: https://www.bitsonline.com/japan-gmo-bitcoin-mining/ Quote Japan’s GMO Internet Group is going into Bitcoin mining, starting 2018. The online services conglomerate announced today it would look to develop and produce 7nm chip technology, and set up a “next generation mining center” in northern Europe. GMO believes Bitcoin can usher in a “new borderless economic zone”, by sending value anywhere instantly and reducing remittance costs. To enable Bitcoin to develop and spread, the company would contribute by mining to help secure a reliable network. The firm also said it would launch a cloud mining business, sell theGMO internet Japan hardware it develops, and supply bitcoins to its digital currency subsidiary GMO Coin Co., Ltd. However it hasn’t yet decided when these commercial operations would start. It revealed the approximate design concept for the mining operation is a 10 TH/s chip consuming 500W or less. The aim is to produce 50,000 chips for a total hashing power of 500 PH/s. The northern European facility would run on renewable geothermal and hydroelectric energy. Although GMO didn’t specify which country would host the equipment, places like Sweden and Iceland have been popular bitcoin mining locations in the past. This is due mainly to naturally cold temperatures above the Arctic Circle, and ready availability of the power sources GMO described. Title: Re: China will completely ban bitcoin Post by: Przemax on September 17, 2017, 02:23:13 PM It is known that China have huge trade contracts with the JP morgan on gold, gold futures and such.
In the current world the difference between the corporation and the government is thin. It is sometimes hard to distinguish a government from corporation. China is just one big corporation in my opinion. And there was some deal between the China incorporated and JPM incorporated to make fud. China had the both ways - first they pumped the price of this hen making a golden eggs. When the hen ceased to make the gold eggs they are planning to make a stew out of the hen. Is that smart thing to do? Depends on the bribe that China incorporated took. Title: Re: China will completely ban bitcoin Post by: bitcoinvestor on September 17, 2017, 02:35:36 PM if it is true,bitcoin will die soon Bitcoin isn't chinese you know, do you see the case between BCC VS BTC. All media blow up bitcoin will hardfork and crash, in fact, BCC only earn few percents votes. The majority votes for Bitcoin segwit. It means CHinese is not a good friend to bitcoin. Bitcoin isn't Chinese, BCC is chinese. BCC can't compete bitcoin and fail to destroy bitcoin. After that there is a new scenario to ban ICOs , shut down exchangers and what else. Bitcoin can't be controlled by anyone, It is the best immutable system that many bankers, dictators afraid of the growing number of BTC holders. Title: Re: China will completely ban bitcoin Post by: GRR on September 17, 2017, 02:48:01 PM Yes, yes. Please get it over with and sell it all.
Title: Re: China will completely ban bitcoin Post by: DayXDT on September 17, 2017, 02:59:49 PM damn, i'm so scared here. really confused what happen next if china really2 ban bitcoin.
Title: Re: China will completely ban bitcoin Post by: prstp on September 17, 2017, 03:03:42 PM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Whatever China bans, I want to invest in. Facebook, Youtube, Bitcoin.. Title: Re: China will completely ban bitcoin Post by: malibukoman on September 17, 2017, 03:10:55 PM this is crazy...i believe china is doing all this becouse they want to introduce their own government coin.
Title: Re: China will completely ban bitcoin Post by: szpalata on September 17, 2017, 03:11:53 PM since China already has the technology to block certain sites effectively filtering Internet traffic. This would lead to a harder price drop, as it's much harsher than banning exchanges themselves, but Bitcoin was designed to operate in very hard conditions, including nation-wide bans I don't think a successful ban of Bitcoin by china will even be able to stop Bitcoin. They can employ all sorts of firewall technologies but it will still not wash because the Chinese people will find alternatives of using Bitcoin offshore. So long as the Internet will be working there's nothing the Chinese government can do to completely ban Bitcoin usage. Title: Re: China will completely ban bitcoin Post by: Prodigan786 on September 17, 2017, 03:17:04 PM China may ban or close bitcoin exchanges using their firewall but how they will block or ban blockchain technology which is using peer to peer networks and also what's the need of banning most transparent decentralised db.
Title: Re: China will completely ban bitcoin Post by: Lionel on September 17, 2017, 03:20:40 PM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Wasn't everything supposed to be decentralized and not attackable by a simple stupid IP ban like this?? Now we will have the proof it is actually centralized. If a simple IP ban defeats the entire network, ... i've no words left to say Title: Re: China will completely ban bitcoin Post by: luo demin on September 17, 2017, 03:26:12 PM this is crazy...i believe china is doing all this becouse they want to introduce their own government coin. Probably not but they do want to control currency flow out of the country. They have very tight restrictions on taking money out of the country and the amounts you can exchange. Title: Re: China will completely ban bitcoin Post by: gabmen on September 17, 2017, 03:28:38 PM They probably can do it but i think the people's demand for it would have something to say for itself. The chinese market has probably one of the largest btc markets and it's going to be wasteful for both china and its crypto users to have it banned completely
Title: Re: China will completely ban bitcoin Post by: CrownPolly on September 17, 2017, 03:33:47 PM They probably can do it but i think the people's demand for it would have something to say for itself. The chinese market has probably one of the largest btc markets and it's going to be wasteful for both china and its crypto users to have it banned completely I am sure that there will not be a complete ban. The government will not be able to prohibit the use of crypto-currency in private. Just close the stock exchanges and forbid taking bitcoin to big businessmen Title: Re: China will completely ban bitcoin Post by: leirou on September 17, 2017, 03:34:47 PM This news as what we know is not completely found truth yet but there might be chance. Anyway we have many countries using bitcoin already and China might be one of the biggest holders but its not as same as the past years. Bitcoin is more divided than it was before. There is also a news that chinese people are having the on the counter transaction as exchanger closes. Also the broker things. Referred to unsure news though same as news about china banning bitcoin.
Title: Re: China will completely ban bitcoin Post by: Cr7go4 on September 17, 2017, 03:45:42 PM China cannot ban bitcoin because bitcoin is decentralized which is not able to ban in somewhere.
Title: Re: China will completely ban bitcoin Post by: Chyton on September 17, 2017, 03:49:33 PM First of all this is still unconfirmed, this may be an attempt to drive the price lower so that some whales can get some cheap bitcoins at discounted price.
I'm pretty sure China won't completely ban Bitcoin but will instead heavily regulate it. China is ain't dumb country, I'm sure that they know that blockchain technology is a promising future technology. Title: Re: China will completely ban bitcoin Post by: ahtremblay on September 17, 2017, 03:56:17 PM Bill Gate had said no one can stop bitcoin. Even bitcoin become illegal in China so what they can do now? Can they stop people trade drug?
Title: Re: China will completely ban bitcoin Post by: migolmigol on September 17, 2017, 03:57:13 PM Well I think this will affect the Bitcoin supply and price badly. Basically because a lot of Chinese investors are into Bitcoin investment.
Title: Re: China will completely ban bitcoin Post by: illyiller on September 17, 2017, 10:31:51 PM China cannot ban bitcoin because bitcoin is decentralized which is not able to ban in somewhere. Of course they can't ban Bitcoin. But they can make it difficult to access and use for the majority of people living in their country, just like they do with Google and Facebook. According to the leaked report, they want to bring the Great Firewall to BTC and other cryptocurrencies. That is, they want to block access to the blockchain from within China. Is it possible? No, because it only takes one bridge through the GFW for all Chinese Bitcoin users to stay current with the network. But they can make it very difficult for Bitcoin users. Apparently, they are also attempting to root out VPN providers, making it increasingly harder for average Chinese residents to circumvent government bans. Title: Re: China will completely ban bitcoin Post by: MSZCoin on September 17, 2017, 11:14:45 PM If they want this
Bitmain needs to be closed first. And this means Ethereum gonna skyrocket Title: Re: China will completely ban bitcoin Post by: smartbitcoininvestor on September 17, 2017, 11:22:05 PM It would be unwise for China to ban Bitcoin completely especially considering their economic position and ties to large mining networks. More realistically they are probably restructuring and categorizing the cryptocurrencies so they can regulate it. Why else would they be closing down exchanges? It's not because they are evil and want to lose advantages...it's about control. I doubt Bitcoin would get banned completely as that would be a very costly ban for the economic prosperity of a country.
Title: Re: China will completely ban bitcoin Post by: nkarm1 on September 18, 2017, 12:07:10 AM Even though this is not completely confirmed simple news or gossip like this can partly hinder the price of bitcoin to surpass $5k, this Ber months would be really critical for us. If they'd completely banned it, okay so let us just accept it and let this FUD country move out. On that scenario, I'm sure bitcoin price will sink to bottom but it will recover for some time. This country holds a big companies related to bitcoin, so banning bitcoin would hurt us. Bit I think It's really the time to release the controller's of this market out and let the micro earners to take dividends. I'm really tired of news about this country, so as some of you.
Title: Re: China will completely ban bitcoin Post by: Tszunami98 on September 18, 2017, 12:09:17 AM I guess we will have to deal without the massive ammounts of chinese farms for bitcoin. Too bad for those who invested money to make all those rigs and my heart goes to youngsters who made a small living out of this. Greed has destroyed btc in China...i hope we will learn something from this.
Title: Re: China will completely ban bitcoin Post by: leonair on September 18, 2017, 12:13:49 AM They cannot ban Bitcoin itself though but they can ban it in their IP's region, I think if they really want it to be fully ban in their country its citizens will still do a way to access it no matter what because it is money and people finds a way in able to earn it. It is funny that their government wants to ban it but didn't say a word in banning the mining industry from there, it seems that this is all about political and someone really wants to earn a tax from it.
Title: Re: China will completely ban bitcoin Post by: nkarm1 on September 18, 2017, 12:14:47 AM If they want this Bitmain needs to be closed first. And this means Ethereum gonna skyrocket If they banned bitcoin, means they will ban all cryptocurrencies. What is the sense of banning bitcoin if they didn't ban all these alts. So meaning, etherium will not "skyrocket" and it will go with the flow of bitcoin just like what we have seen last days. As bitcoin goes below $3k, etherium goes lower too. Title: Re: China will completely ban bitcoin Post by: zarados on September 18, 2017, 01:29:36 AM Don't you all think that china has the power to manipulate the bitcoin price?. After their goverments anounce to ban ico and stop the exchange activities, the price are dump from $5k to $3k. This are te prove that china has the big power on bitcoin. I dont think they will forbid bitcoin trading activity forever. the bitcoin shareholders would not just sit around to watch this happen. They should fix the problem , why the goverments forbit it, lack of licensing, money laundering problem, sercurity concerns and other issue.
Title: Re: China will completely ban bitcoin Post by: romani245 on September 18, 2017, 01:39:15 AM They cannot ban Bitcoin itself though but they can ban it in their IP's region, I think if they really want it to be fully ban in their country its citizens will still do a way to access it no matter what because it is money and people finds a way in able to earn it. It is funny that their government wants to ban it but didn't say a word in banning the mining industry from there, it seems that this is all about political and someone really wants to earn a tax from it. It seems like they legitimately think that they can drive a good chunk of their population away from Bitcoin and towards their own central-bank issued blockchain currency. See here: https://twitter.com/cnLedger/status/907095022385823744 The Bank of China has released a blockchain wallet app. No support for cryptocurrencies and can be linked to Bank of China debit cards. So they obviously realize that blockchain technology is the future. Perhaps they really think they can suppress the use of BTC within China, at least to the extent that Google and other services like that are suppressed. There are rumors floating around that they will use the GFW to suppress the usage of Bitcoin and other cryptocurrencies. I hope they aren't true, but it seems possible given all of this. Title: Re: China will completely ban bitcoin Post by: sukoyomi on September 18, 2017, 01:40:03 AM we'll see until the 30th of september, if china will succeed with the plan, if it succeeds then bitcoin will surely collapse, but I doubt it all, because bitcoin users not just china only.
Title: Re: China will completely ban bitcoin Post by: Yakamoto on September 18, 2017, 01:43:41 AM this is crazy...i believe china is doing all this becouse they want to introduce their own government coin. Probably not but they do want to control currency flow out of the country. They have very tight restrictions on taking money out of the country and the amounts you can exchange. Title: Re: China will completely ban bitcoin Post by: Konthol Ngaceng on September 18, 2017, 02:10:58 AM I think with / without china, bitcoin will be like this, no price ever can stop, the proof is now the price is back to normal and I'm sure the end of this month the price will reach $ 5000.
Title: Re: China will completely ban bitcoin Post by: Granxis on September 18, 2017, 02:16:38 AM I do not think this ban will last for a long time, because they will see that the front of the illegal people has opened, and if they are going to ban again, Japan is moving on this very much.
Title: Re: China will completely ban bitcoin Post by: Reid on September 18, 2017, 02:17:04 AM First of all this is still unconfirmed, this may be an attempt to drive the price lower so that some whales can get some cheap bitcoins at discounted price. I'm pretty sure China won't completely ban Bitcoin but will instead heavily regulate it. China is ain't dumb country, I'm sure that they know that blockchain technology is a promising future technology. Whoa! Someone found a good answer here. It may be this reason that is why they are spreading news like this. Whales looking for ways to buy back after they sold their coins. Since the news was spread there have been a lot of loss dollar in the bitcoin price? How can we explain that? Only a large amount of coins can make that big impact and that could be whales selling their coins because they know the fake news was already spread. Nice tactic. Title: Re: China will completely ban bitcoin Post by: jerowacik on September 18, 2017, 02:20:54 AM I do not think this ban will last for a long time, because they will see that the front of the illegal people has opened, and if they are going to ban again, Japan is moving on this very much. may be re-adopted by china a few months ahead. they just want to reconstruct the circulation of bitocin. thus rebuilding bitcoin from scratch is one way they do. it's going to be painful in the beginning, but I think we'll get an incredible increase in bitcoin development in the future.Title: Re: China will completely ban bitcoin Post by: Darker45 on September 18, 2017, 02:27:16 AM This is temporary. I am certain about it. Unless they are really into something that is both selfish and greedy to my mind. I think this country is trying to create a version of bitcoin that is made in china. That would be laughable. For sure, the quality will be in question. ;D
Title: Re: China will completely ban bitcoin Post by: Granxis on September 18, 2017, 02:30:33 AM I do not think this ban will last for a long time, because they will see that the front of the illegal people has opened, and if they are going to ban again, Japan is moving on this very much. may be re-adopted by china a few months ahead. they just want to reconstruct the circulation of bitocin. thus rebuilding bitcoin from scratch is one way they do. it's going to be painful in the beginning, but I think we'll get an incredible increase in bitcoin development in the future.I think what you say is absolutely right also China technically can not ban the Bitcoin network, it is technically not possible, but they can ban mining, this ban is not very important. Title: Re: China will completely ban bitcoin Post by: chichigirl on September 18, 2017, 02:32:28 AM If this things will happen, it will not affect that much with bitcoin. There are some countries that will continue to support and believe in bitcoin.
Title: Re: China will completely ban bitcoin Post by: lli183 on September 18, 2017, 02:44:41 AM I am working for a public chain based company in China. From what I know and observed these day since the initial ban of ICO, gov. more like to have a control over the market instead of a free run "Bitcoin" network. I wouldn't say it is a complete ban on cryptocurrencies but a period kick out private companies like us. Goverment organizations or gov. based companies start to involve in this market. As an expected result, one primary currency will be listed under Chinese goverment control and rest of altcoins will be listed follow securities law.
Title: Re: China will completely ban bitcoin Post by: Sir Paijoe on September 18, 2017, 04:53:32 AM this is the worst news about bitcoin history, when many countries banned bitcoin certainly does not feel the impact but when china is banned bitcoin of course the impact is very large because china is the world's largest bitcoin users.
Title: Re: China will completely ban bitcoin Post by: tulio on September 18, 2017, 05:01:26 AM Let's see if the ban will last long... I do believe they are just trying to reduce money going out of China and will work for a regulation that would destimulate such conduct.
Title: Re: China will completely ban bitcoin Post by: JohnBitCo on September 18, 2017, 03:05:12 PM According to this paper china will try to block bitcoin exchanges and p2p network from the great firewall. https://twitter.com/btcdrak/status/908998917995552776 and the translation in english here https://pastebin.com/6vKp6rh6 I like to see what will be the future of mining in the country if this happen and especially how this chinses mining cartel will survive. Is surprise that Jihan and Bitmain spent a huge stake of money to fight over silly things like Block size, blockstream evil etc and has not predict that something like that wil be possible to happen. I will laugh for months if Jihan ask the help of blocstream to keep operating in china Are you sure its confirmed ? I've heard they ban ICO only but not sure about bitcoins. Anyways we should look for the future of bitcoins instead looking back, China banned ICO, JP Morgan. But Bitcoin, It will go up for sure . We are again now touching 4000$, which only means that one country ban ICO or bitcoin can have no effect on bitcoin. Title: Re: China will completely ban bitcoin Post by: Lionel on September 18, 2017, 08:38:22 PM I do not think this ban will last for a long time, because they will see that the front of the illegal people has opened, and if they are going to ban again, Japan is moving on this very much. may be re-adopted by china a few months ahead. they just want to reconstruct the circulation of bitocin. thus rebuilding bitcoin from scratch is one way they do. it's going to be painful in the beginning, but I think we'll get an incredible increase in bitcoin development in the future.I think what you say is absolutely right also China technically can not ban the Bitcoin network, it is technically not possible, but they can ban mining, this ban is not very important. They can ban BTC and it's technically easy. BTC clients connect to the P2P network in a centralized way ( just bootstrapping from a known list of IPs, which they used to download from a known IRC channel ). It's a single point of failure and China has the resources to block it. I am very disappointed about cryptos being so easily attackable. They have been advertised as decentralised but they aren't, if a governement can block them with a stupid IP ban. This IMHO Title: Re: China will completely ban bitcoin Post by: gabmen on September 18, 2017, 09:03:04 PM It can hardly be done but i think china won't really ban something they can reap fruits from. Even now they're trying to find a way to regulate btc which means they're not really keen on banning it
Title: Re: China will completely ban bitcoin Post by: Aufar on September 18, 2017, 09:08:55 PM Although China is banned it will not affect other countries because bitcoin is widespread and occurs in almost all countries so in my opinion it will not be a problem, and crypto world will grow faster.
Title: Re: China will completely ban bitcoin Post by: pisston on September 18, 2017, 09:12:56 PM Although China is banned it will not affect other countries because bitcoin is widespread and occurs in almost all countries so in my opinion it will not be a problem, and crypto world will grow faster. China has not banned the crypto currency. This information is incorrectly presented. In China, there are some points in the initial birth of Bitcoin. Although this greatly influenced pricing of the crypto currency.Title: Re: China will completely ban bitcoin Post by: PokerFace3 on September 22, 2017, 06:48:11 PM when has decreasing supply (banning something) ever driven price down? Yes this also be the reason that the low price of bitcoin made them to take the step of banning of bitcoin in China. But I think that this action will for a short time and soon they will allow bitcoin in China. Because many Chinese have invested and are trading in bitcoin. Bitcoin can pay a vital role in the economy of china as they are the leading suppliers of good around the world. They can make their receipts easy in bitcoins.Chinese can get thier money out. They will find way to by BTC through other countries Title: Re: China will completely ban bitcoin Post by: Emworks on September 23, 2017, 06:52:16 AM Whether this speculation are true, i hope its not, it only show that china is still not yet satisfied on the result after the action they make last time.
if this will happen it might shake the price a litte bit but it doesnt mean it will totally disable bitcoin in large scale.this will be just temporary and soon it will back to norm. About bitmain.Serious money is at stake i think Bitmain will not surely leave without a fight. Title: Re: China will completely ban bitcoin Post by: Jembut Ireng on September 23, 2017, 07:31:57 AM This is the biggest storm and disaster we experience, hopefully china members transfer their bitcoin assets to other countries and continue to work for bitcoin. we all know that china is the biggest bitcoin user and will have a big impact on bitcoin.
Title: Re: China will completely ban bitcoin Post by: aeternus on September 26, 2017, 05:12:02 AM For the readers out there, this is still UNCONFIRMED. Though I personally think this is really really possible. Correct, it is unconfirmed but I think it is completely possible that something like that happens, China is not about free enterprise, they want to control every aspect of the life of their citizens and bitcoin allows them to circumvent China restrictions, so to me it is just a matter of time before that happens.I understand that China can easily ban bitcoin exchanges from their firewall, but I don't know how they're gonna totally block p2p network from their "great" firewall. About the Chinese miners though, I'm pretty sure they're gonna need to spend a good amount of money to oppose the Chinese government in court. Jihan's probably gonna need to move to another country LUL. Title: Re: China will completely ban bitcoin Post by: crossabdd on September 26, 2017, 05:14:19 AM i think chinese not completely banned bitcoin, chinese just want to build his own blockchain then they can lead blockchain technology in the world
:D This Chinese Company Is Trying To Build The World's Leading Blockchain Platform https://www.forbes.com/sites/sarahsu/2017/07/25/this-chinese-company-is-trying-to-build-the-worlds-leading-blockchain-platform/#5bda63947735 Title: Re: China will completely ban bitcoin Post by: Kyraishi on September 26, 2017, 09:17:10 AM As the article says, this is unverified.
Anyone could have printed off that piece of paper and put it up on twitter in order to create some commotion and a panic sell so that their short positions can make a profit for whoever is behind this. I'm not saying that in this case, this is true, but it's a real possibilty here. Even if it is true, people will find loopholes around it. There is no perfect way to block the bitcoin network. Even if China does somehow completely ban bitcoin which is very unlikely, then bitcoin companies and major bitcoiners will just move to another country and go on as usual. Title: Re: China will completely ban bitcoin Post by: nareshrohra on September 26, 2017, 09:53:16 AM No, they won't. Note that mining is not yet banned in China and most likely won't be. they are more worried about the outflow of fiat in ICO & exchanges. Recently, Da Hongfei, founder of NEO gave an interview and clarified that mining bans are rumours and there's no official statement yet. He also mentioned that he was consulted on ICO ban and it was more for money flows regulation.
https://www.cryptocoinsnews.com/neo-founder-da-hongfei-advised-china-ico-ban-govt-collaboration-possible/ Title: Re: China will completely ban bitcoin Post by: fullhdpixel on September 26, 2017, 04:09:36 PM No, it will not happen in the future. though Bitcoin is being accepted in some developed countries so that China has taken it seriously in terms of regulating. when they have an intention to regulate so that they will allow Bitcoin as a legal currency. The Chinese government is surely known that a lot of Chinese people is involved in this platform. so they should not ban this platform. Yes I agree to you 100 percent. In this day if we observe China holds almost all the sectors of productions in the world and they generate revenue from the entire world. The issue is not about the banning of investment and trading in bitcoin, the issue is about the regulation. The legalization and regularization of bitcoin in China will be better for them because the payments will be easy while sending the items toother part of the world. Title: Re: China will completely ban bitcoin Post by: aeternus on September 30, 2017, 09:43:22 PM I do not think this ban will last for a long time, because they will see that the front of the illegal people has opened, and if they are going to ban again, Japan is moving on this very much. may be re-adopted by china a few months ahead. they just want to reconstruct the circulation of bitocin. thus rebuilding bitcoin from scratch is one way they do. it's going to be painful in the beginning, but I think we'll get an incredible increase in bitcoin development in the future.I think what you say is absolutely right also China technically can not ban the Bitcoin network, it is technically not possible, but they can ban mining, this ban is not very important. Title: Re: China will completely ban bitcoin Post by: teejayrichard2 on November 09, 2017, 06:11:23 PM This is mere speculation. China won't ban bitcoin.
Title: Re: China will completely ban bitcoin Post by: GaPR on November 09, 2017, 06:25:54 PM This is mere speculation. China won't ban bitcoin. In fact, news and rumors make money. I will not believe it until I see it in practice.Title: Re: China will completely ban bitcoin Post by: Nilda on November 09, 2017, 06:39:59 PM Good! It's their loss. Although this is mere speculations, I doubt if the Chinese leadership would allow their country to be left behind. Any forward thinking country would want to be part of this game changer.
Title: Re: China will completely ban bitcoin Post by: East7547 on November 09, 2017, 06:40:54 PM I can’t see a total ban, they will legislate it I’m sure tho
Title: Re: China will completely ban bitcoin Post by: coinoberg on November 09, 2017, 08:54:40 PM This is mere speculation. China won't ban bitcoin. In fact, news and rumors make money. I will not believe it until I see it in practice.me too! I think there were maybe thousands of similar speculation. Title: Re: China will completely ban bitcoin Post by: scottykarate on November 09, 2017, 09:05:04 PM The Chinese government is a master at manipulating trade and money. Never assume that they're speaking the truth and don't have some angle that will benefit them. Like has already been said in this thread, news manipulation is a powerful tool. Whatever it is that they're saying is some kind of manipulation and likely just for their benefit in some way and isn't what they will actually do.
Title: Re: China will completely ban bitcoin Post by: Lubang Bawah on November 09, 2017, 09:57:36 PM This is what many countries will do and I'm sure other countries soon follow china for total banned, but I do not think this will bring any impact because the key to bitcoin performance is from internal factors ie users, not external.
Title: Re: China will completely ban bitcoin Post by: xBitHodler on November 09, 2017, 10:14:57 PM It looks like China is thinking about unbanning Bitcoin. That's hilarious. There are plenty of reason why they have tried to ban Bitcoin.
- they thought it was a threat to their current financial system, - they wanted to earn money by selling BTC before they announced they were going to ban Bitcoin. I'm not surprised why they want to change their decision. China wants to be number 1, Bitcoin might help with that. Title: Re: China will completely ban bitcoin Post by: tn211 on November 09, 2017, 10:20:27 PM It looks like China is thinking about unbanning Bitcoin. That's hilarious. There are plenty of reason why they have tried to ban Bitcoin. - they thought it was a threat to their current financial system, - they wanted to earn money by selling BTC before they announced they were going to ban Bitcoin. I'm not surprised why they want to change their decision. China wants to be number 1, Bitcoin might help with that. China can do whatever they want, bitcoin is not much affected by it anymore. The have played too long the same boring game. And now we have japan and korea, which are more positive about bitcoin and crypto. So yeah soo long china!. We see you when you want to have decided what to do. Title: Re: China will completely ban bitcoin Post by: King Sastro on November 09, 2017, 10:47:46 PM The bitcoin deals in china are the largest in the world, and certainly the Chinese government knows about this, the Chinese government is afraid someday bitcoin will defeat Yuan which is the official government currency of china.
Title: Re: China will completely ban bitcoin Post by: nydiacaskey01 on November 09, 2017, 11:04:48 PM They might have banned Bitcoin in China as they announced a few months ago but I dont think every citizen followed and sold their Bitcoin or never deal with Bitcoin anymore. I read in cointelegraph that there is this exchange site that accepts CNY and if that is the case trading is still ongoing. Law makers in China will soon come to their senses and lift the ban.
Title: Re: China will completely ban bitcoin Post by: 4hajs on November 09, 2017, 11:06:28 PM I heard that the China will come back in the next year. I hope that is true, we need their capital and their money, they have large market and economy. I already miss them...
Title: Re: China will completely ban bitcoin Post by: Hallmader on November 09, 2017, 11:10:27 PM China does not have much options really. Will they ban Bitcoin completely and isolate itself from the Cryptoworld like a hermit? That sound pretty stupid of them to do that. Well, they could actually do that and invent a cryptocurrency that is solely for china and the chinese people. Just the same, however, they will look an isolated hermit. And then there are those big names in china who are also big names in crypto. They will surely leave their country if that happens.
Title: Re: China will completely ban bitcoin Post by: Mary ann Labor on November 11, 2017, 06:56:44 AM I don't think china can ban the Bitcoin, it has closed down exchanges, they may well open again but with more regulation as the ICOs are getting out of control with scams.
Title: Re: China will completely ban bitcoin Post by: Ryan Dugan on November 11, 2017, 11:31:22 PM Who cares about China let us just leave them alone to be as they wish. China is a weird country with a really weird government and laws.
If they want to be stupid and cut themselves off let them. They already ban so much social media so I am not surprised they want to ban btc too. Title: Re: China will completely ban bitcoin Post by: Brigalabdis on November 11, 2017, 11:43:20 PM Who cares about China let us just leave them alone to be as they wish. China is a weird country with a really weird government and laws. If they want to be stupid and cut themselves off let them. They already ban so much social media so I am not surprised they want to ban btc too. they are rich country too so they didnt need btc and they are the one that are selfish. I dont agree that terms of china because they know that they have a power so why they do whatever they want? |