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Title: Chinese consolidating not banning (intent to regulate and dominate) Post by: nikauforest on October 07, 2017, 05:30:06 AM Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.
Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China. HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence https://www.youtube.com/watch?v=RWz1EHN8Nds Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: CryptoBry on October 07, 2017, 06:23:31 AM Well, all I can say is let's see what will really be happening soon as far as the ban in China for ICOs and Bitcoin exchanges can be concerned. Certainly, if they are really planning that way then China is always welcome to be back to the cryptocurrency bandwagon as we know that China remains a big and important market. Let's hope that this is just another fake news or just another bad speculation without basis.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: davis196 on October 07, 2017, 06:24:59 AM Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate. Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China. HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence https://www.youtube.com/watch?v=RWz1EHN8Nds I think that we should stop talking about China.The bitcoin community is more independent from Chinese exchange platforms and miners than never before and this is something good. Regulation and domination from the chinese government and the PBOC aren`t something good and i don`t care if there`s a difference between more regulations and a direct ban.They are both bad for the cryptocurrency users in China. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Wind_FURY on October 07, 2017, 06:39:38 AM OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: avp2306 on October 07, 2017, 06:57:22 AM OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire. That's what Chinese wants that's why they regulate those exchange but they will fail unto this since bitcoins is the main crypto by majority of the people specially with chinese guys there. And Chinese government will realize it as soon as they will see that no one grabbing there coin and threat this as just another altcoin build. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: snedyolo on October 07, 2017, 07:31:50 AM Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate. Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China. HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence https://www.youtube.com/watch?v=RWz1EHN8Nds They should not really ban it. I mean for me, nothing is wrong with bitcoin mining or any other activities or services involving bitcoin. They should at least study the system, implement it, and then decide whether it is good or bad. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Reatim on October 07, 2017, 07:49:40 AM Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate. Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China. HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence https://www.youtube.com/watch?v=RWz1EHN8Nds HuoBi & OKCoin is not yet close and was given up to the end of the month because they have a lot of user based and its hard to liquidate in time. I don't know to "dominate" but if their exchanges came back to operate then it will be "regulated" by the Chinese government. They want to know who are putting big cash and who are the whales you are trying to manipulate the price from behind. Maybe a tougher KYC/AML regulations will be put up by them. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: White sugar on October 07, 2017, 07:55:42 AM It is old news, at least for the most watchful people.
Most mining power is in China, and the hashpower isn't dropping and the regulations spoke about new licenses and stuff, not criminalization. Only the media spoke about bans and stuff. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: DaMut on October 07, 2017, 07:57:16 AM actually they did not 'ban' their citizen or exchanger to trade it in there,
but they're telling them to 'stop' it at the moment because they want to regulate their exchanger. just like japanese did to their exchanger, unlike chinese they did it carefully and smoothly,monitoring it for a few months and then try to reach it step by step. some fudder take that action as an opportunity to trigger the market. for your info,there're no public statement from chinese goverment regarding Bitcoin exchanger and trading Bitcoin. which mean everything that we heard about banning the Bitcoin is totally fake. (i mean,they will not ban it forever just stop it at the moment to regulate their exchanger.thats it) Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Fortify on October 07, 2017, 09:00:04 AM It seems a strange way of "consolidating" when they have closed down one of the biggest Chinese bitcoin exchanges around. They might not ban it outright, but if they make it hard enough for regular Chinese users to cash in and out, then that might persuade them to not enter the cryptocurrency market at all.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: gentlemand on October 07, 2017, 10:18:01 AM The thing I find a little strange is OKcoin and Huobi getting the reprieve when they played with customer funds in shitty looking investment schemes.
I cannae believe the authorities would single them out as the chosen ones when they've taken the disgusting piss like that. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Pursuer on October 07, 2017, 10:25:20 AM meh, I wished the Chinese do go away this time.
but apparently this time I won't get my wish either. they are going to stay like always and continue to be involved in bitcoin. we just have to count the days until next time the same thing happens and the same FUD of China banned bitcoin bullshit starts up again so we can buy more cheaper coins by that time too ;) Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: YuginKadoya on October 07, 2017, 10:45:21 AM I think that the Chinese Government are rolling out fresh regulation of Cryptocurrency in the coming months and their gonna permit licensed brokers to operate, there are a possibility that china is still engaging in bitcoin and other cryptos, and there are not confirmation that they are surely banning it out from their country so expect that we can see potential increase in value.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: 1Referee on October 07, 2017, 10:58:21 AM I cannae believe the authorities would single them out as the chosen ones when they've taken the disgusting piss like that. It's impossible to keep track of the Chinese government, so it wouldn't really surprise me if this was indeed the case. I have always found these two exchanges to be somewhat different from the rest, and this might become even more clear when the government aims its focus at these specific exchanges. China doesn't really care what path it goes through, it just wants to make sure it ends up with as much control as possible, which is understandable to a certain extent. It must be frightening for governments to see Bitcoin and crypto in general only grow in size/usage. One way or another, basically every government will at some point take certain measures to gain at least some control. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Lampaster on October 07, 2017, 01:49:44 PM After such news we saw how the price fell and kept a long time at a low level. I am sure that during this time the Chinese who spread those rumors have bought large number of coins and now they will be even easier to manipulate the market. It seems to me that it is dangerous for us all. Dreaming of freedom, we ourselves fall under the control of a monopoly of China. If they will concentrate in their hands most of the coins then they can manipulate the price like the fed is manipulating the dollar.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: iqlimasyadiqa on October 07, 2017, 01:59:56 PM I cannae believe the authorities would single them out as the chosen ones when they've taken the disgusting piss like that. It's impossible to keep track of the Chinese government, so it wouldn't really surprise me if this was indeed the case. I have always found these two exchanges to be somewhat different from the rest, and this might become even more clear when the government aims its focus at these specific exchanges. China doesn't really care what path it goes through, it just wants to make sure it ends up with as much control as possible, which is understandable to a certain extent. It must be frightening for governments to see Bitcoin and crypto in general only grow in size/usage. One way or another, basically every government will at some point take certain measures to gain at least some control. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Idrisu on October 07, 2017, 04:39:07 PM Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate. Chinese regulations authority will not ban bitcoin! We have been saying this several times and many whales has seen this as an opportunity to dump bitcoin and later buy at a cheaper price. If we should read in between line we would find out that bitcoin has not be banned and China government might has just taken some steps to bring bitcoin under the control of its agencies.Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China. HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence https://www.youtube.com/watch?v=RWz1EHN8Nds Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Opquar on October 07, 2017, 05:02:58 PM OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire. Haha, this is so true. China is already pretty much out of the bigger Bitcoin future right now, so it doesn't matter to us either. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: aso118 on October 08, 2017, 01:32:10 PM The Chinese may be able to browbeat exchanges and ensure that trading rules are in effect. They may even propose regulations for ICOs. But they won't have the kind of control they would like, on Bitcoin. The Chinese have bent even the internet, but bitcoin might remain outside their grasp.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: European Central Bank on October 08, 2017, 02:01:39 PM every time the chinese government believes it's increasing control with measures like this it's actually ceding control over the bitcoin market.
if not already, it will reach a point where the rest of the world won't pay any attention to the stupid shit they pull any more. they're never going to have the control they want so they should end it all now. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: rancidgash on October 08, 2017, 02:17:01 PM From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose.
The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that! Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Proton2233 on October 08, 2017, 02:39:36 PM From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose. The Chinese Communists want everything, but why they need it. USA is constantly in a state of trade war with China, even if it is not visible. Bitcoin is an extra trump card in this war for China. The use of bitcoin brings a good income to the Chinese and therefore no one will not give up. The Communists, too, know how to count.The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that! Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: BrewMaster on October 08, 2017, 02:41:32 PM every time the chinese government believes it's increasing control with measures like this it's actually ceding control over the bitcoin market. if not already, it will reach a point where the rest of the world won't pay any attention to the stupid shit they pull any more. they're never going to have the control they want so they should end it all now. true, but i like to believe that China has never been a big player to begin with. it was all an illusion that Chinese are big and vastly effective on bitcoin price. but reality was that when you offer zero fee trades without any taxation or regulation, you obviously get a huge volume. that never meant more traders in China. and i certainly never heard of any real adoption over there such as any real shops accepting bitcoin! Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: European Central Bank on October 08, 2017, 02:45:30 PM true, but i like to believe that China has never been a big player to begin with. it was all an illusion that Chinese are big and vastly effective on bitcoin price. but reality was that when you offer zero fee trades without any taxation or regulation, you obviously get a huge volume. that never meant more traders in China. and i certainly never heard of any real adoption over there such as any real shops accepting bitcoin! it might have been nothing other than smoke and mirrors, but that control was real while it lasted. the rest of the world always followed the fake volume exchanges. and yes, other than mining bitcoin is non existent in china. there's only something like 50 full nodes versus hundreds in other countries. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: rancidgash on October 08, 2017, 04:31:05 PM true, but i like to believe that China has never been a big player to begin with. it was all an illusion that Chinese are big and vastly effective on bitcoin price. but reality was that when you offer zero fee trades without any taxation or regulation, you obviously get a huge volume. that never meant more traders in China. and i certainly never heard of any real adoption over there such as any real shops accepting bitcoin! it might have been nothing other than smoke and mirrors, but that control was real while it lasted. the rest of the world always followed the fake volume exchanges. and yes, other than mining bitcoin is non existent in china. there's only something like 50 full nodes versus hundreds in other countries. Still, Chinese mines are a big part of the power. If China banned Bitcoin the only thing they had to do was move the mines to Russia - there Putin would take them with open arms :) Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: ivrynx on October 08, 2017, 11:29:30 PM China had already said before, when it was just banning its exchanges,is that they wanted to regulate cryptocurrenciesin their country, however i think what china didn't took note is that bitcoin is global, it is not just focused on one country alone, though they have a lot of bitcoin userscit doesn't mean that thry own bitcoin. I think they should consider lifting the ban on bitcoin now and not just for he exchanges, it seems that exchane companies, doesn't like the new way, that is getting a license to operate, because if they do, china will be back on track, and be competing with japan's 11 exchanges. I think china should really consider liftin the ban on bitcoin, since they now found out, with or without them, bitcoin still lives on, they might as well join.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Pab on October 08, 2017, 11:54:05 PM Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate. Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China. HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence https://www.youtube.com/watch?v=RWz1EHN8Nds I think that we should stop talking about China.The bitcoin community is more independent from Chinese exchange platforms and miners than never before and this is something good. Regulation and domination from the chinese government and the PBOC aren`t something good and i don`t care if there`s a difference between more regulations and a direct ban.They are both bad for the cryptocurrency users in China. Yes all that talks about China is boring.Bitcoin is not dependent on China anymore But not blame China,imagine how to manage country with over 1 bln people,country what became global power very fast.Any country has his own circumctences,westerness usually like to teach others how thay have to live,but if we look westerness economys than thay may learn lot from China Chinise are pragmatic business what is brinking incomes to his people,but thay dont want his people lost money on crypto buble Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Wind_FURY on October 09, 2017, 05:08:44 AM OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire. That's what Chinese wants that's why they regulate those exchange but they will fail unto this since bitcoins is the main crypto by majority of the people specially with chinese guys there. No, it is not what the Chinese Bitcoiners and altcoiners want. It is what the Chinese government wants because they want to control and regulate everything. There is nothing exciting about a "digital Yuan". Quote And Chinese government will realize it as soon as they will see that no one grabbing there coin and threat this as just another altcoin build. It is not a "coin" made to compete with cryptocurrencies. Its a "coin" made to complement paper money. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Immakillya on October 09, 2017, 06:42:13 AM Bitcoin exchanges there i think is not banned there. The government just stopped their operations as they are planning to regulate exchanges there. It's just FUDs make things worst. Manipulators used the issue and deceived people by spreading some bad news about bitcoin. But look how fast bitcoin recovers. It's so fast. And i believe China does not have the power over bitcoin anymore. Japan now is the biggest and the influential country when it terms to cryptocurrencies. They are very friendly to bitcoin that's why the bitcoin progress there is amazing. Japan now also will focus on mining. They are now gonna take over the place to China from being the biggest mining in the world. Taiwan also now taking a big steps to cryptocurrency and so as South Korea.
Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Seansky on October 09, 2017, 11:23:43 AM Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate. If they only intend to regulate crypto in their country then that is good. Now it seems that the FUD has been cleared out. The exchanges ban that is expected in China seems to be a fake news. Maybe because it was already cleared out, bitcoin right now is consolidating at a good price and I feel bad for those who dumped their bitcoins just because of the recent FUD. For now I am quite curious with their digital yuan hoping it would be better than tether.Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China. HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence https://www.youtube.com/watch?v=RWz1EHN8Nds Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Visbay on October 10, 2017, 07:44:37 AM From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose. Absolutely you are right and I think may be china see other countries like japan and Australia that they accept bitcoin and some European countries have a debit cards of bitcoin so maybe they realize that they did a mistake and now they change their mind but I have many of my friends from china they were using bitcoin secretly and now I think they will be free to use it easily.The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that! Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: rancidgash on October 11, 2017, 11:06:59 AM From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose. Absolutely you are right and I think may be china see other countries like japan and Australia that they accept bitcoin and some European countries have a debit cards of bitcoin so maybe they realize that they did a mistake and now they change their mind but I have many of my friends from china they were using bitcoin secretly and now I think they will be free to use it easily.The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that! In my opinion it was just kind of strange game to confuse/scare investors to gain something.. I don't know why they did it and what they want gain, but in my opinion it doesn't work out, and now they are trying to fix that.. Probably they already undestand, that they can not stop Bitcoin ;) Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: Unplugged on October 11, 2017, 11:51:36 AM Well, all I can say is let's see what will really be happening soon as far as the ban in China for ICOs and Bitcoin exchanges can be concerned. Certainly, if they are really planning that way then China is always welcome to be back to the cryptocurrency bandwagon as we know that China remains a big and important market. Let's hope that this is just another fake news or just another bad speculation without basis. I really agree with you OP. I hope this is not just some blatant troll or a fake news just to give us confusion and unwanted speculation. I strongly believe that China might comeback later in the future and if they do comeback the price would totally skyrocket. Title: Re: Chinese consolidating not banning (intent to regulate and dominate) Post by: ivrynx on October 11, 2017, 11:35:58 PM I think the Chinese would really just want to have a regulation first, before they bring back Bitcoin and allow exchanges again, since the population of China is huge and there are a lot of Bitcoin users, I think they are just protecting their people from possible scammers, since today's age, it is no surprise that some will fall in the traps of scam sites and scam ICOs, probably that's one of the reasons why they wanted to shutdown their exchanges first, to avoid confusion among the public, since it is easy to create a website that will get you investing, thinking that it will double in hours. We should just allow the Chinese to do what they think will protect them and always validate news, since a lot had happened after China had shutdown it's ICOs, hopefully they will find a way on how they could regulate it in their country, since it will be their loss if they didn't.
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