Bitcoin Forum

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

China is a well known as the major country like US, that's why any bad statement may give bad impact to the crypto but to be honest it's fake news. https://www.trustnodes.com/2021/09/24/bloomberg-publishes-fake-news-on-bitcoin-as-china-prints-100-billion

I guess bloomberg already ordered to create fake news and such statement already created a few weeks ago. So many times china was banning bitcoin and it doesn't give big impact. This will become a short term dump

WTF? How many times they can ban the same thing again and again? ::)

I don't want to see the article because these kind of articles are posted everyday on the portals and even if they are really banned it still there is no effect on the crypto prices for sure.

All developed country governments always have certain strengths in several fields including the economy and investment so that this can happen if the Chinese government wants to do it with sincere intentions.

I think everyone's trust in cryptocurrency lies not in the Chinese government, but lies in itself when it really understands the market and the conditions of the crypto space completely.

China is irrelevant to give such statement's who cares about the Chinese Government actions about crypto, China is not the world so let that story vanished and die besides many Chinese are still using Bitcoin and other major cryptocurrencies I believe that dump has not associated with that statement if it's true a and verified article because there's a lot of faked news nowadays, IMO, China has no power to control crypto that's why just relax and wait till the market will recover.  

Try to compare it with the recent fake news about Litecoin and Walmart. Such big companies can even shake the market temporarily. It is no doubt that the government is able to shake the market this much. As you all know China is at its behaviour again, banning crypto for the nth time. Cryptocurrencies spaces are still early yet if you look at the bigger pictures, it able to prove cryptocurrency especially Bitcoin are here to stay. Not to mention that the regulatory issue across countries toward crypto hasn't yet been at its finest. So the volatility of the market is expected.

People don't follow an authority government willingly. It doesn't mean if some countries haven't yet had clarity about crypto regulatory, people didn't believe it has potency. It is rather the opposite, people believe cryptocurrencies have a lot of things to offer rather than stick to what their governments provide in terms of monetary things.

I don't know, but the news is intentionally made to buy bitcoins at a low price.
and as usual it managed to make everyone panic, it's like the same thing being done over and over again but people seem to be hypnotized and follow the news to panic, and as it usually happens it works.

Honestly, I am tired of this fud of China. We all knew that they are simply manipulating the market by putting up a serious act to ban everything about crypto, then when yhe market plunge to death, then they will buy massive coins and started to renounced something of support to crypto. Its like they wanted so badly to buy at very cheap and slowly pump it and sell again. Damn China, worse pump and dump on crypto.

China says again ~LOL How about, we ban china now and then we never see any news from them anymore. IMO, this is already manipulation because the same news about ban is always coming from the same country. Keep hold, never sell while the news only "Ban" from China because we already got this type of news since 2017. This is the most stupid news/fud/manipulation from China.

they have said the same thing over and over again.
I think as a person who is in crypto, you are familiar with China, but believe me crypto is not owned by China so whatever they say will not have a big impact on the market.

Because it is the Chinese words that make the price of bitcoin now drop drastically, they speculate that trading bitcoin and other currencies will disrupt the economic order and lead to money laundering and other illegal activities.

1-2 weeks news from china will have an impact on the bitcoin market and other altcoins, but time will go on, survive and bitcoin will continue to be real and exist in the market because it is not only China that contributes to BTC. many countries are transacting,


does the Chinese government have the power to shake up the market with just a statement
it could be "yes" because China is the second big country besides the US so anything is always the main topic and a threat to what is considered a nuisance to the country's economy

If this message turns out to be true, and not just another fake, then the only thing China can achieve is that all crypto activity will move to other, more crypto-friendly places. As a result, China will remain on the margins of history.

I think we have more new people in crypto that still believe in the China crypto ban fud otherwise the market won't be greatly affected anytime this type of news pop up, by now old crypto investors are already use to China everytime crypto ban fud, it is getting annoying and they don't seem to care about this constant repetitive news, it is a shame the market still react to such old news.

Technically, it's illegal since it has a value and the government don't get any tax on each transaction for those transaction coming from defi that earns profit from staking. Each country has an specific regarding this and I'm sure that China has a law that really being violates by crypto transaction since they already publish an official statement about this. But this not general, Press just emphasise to create a great story for a better publicity. Actually this kind of issue is already present few years ago and China keeps using that statement whenever cryptocurrency is on hype mode.

Who cares? Bitcoin don't need WaChyna. China needs bitcoin. Just like how they backpedalled before, they will do it again. Even if they don't, it doesn't make a difference. Bitcoin will just keep kicking ass as it has been since 2008. The fundamentals are still as strong as it was in 2010. Nothing has changed.

This statement from china might be the reason for current fall in price but the Chinese crypto users have always stepped up to circumvent the restrictions and I believe they would find a way. People in China are more suspicious with the government regarding their wealth and more and more people are moving towards crypto as a way of saving. Even if the make it hard, most of the Chinese could easily and cheaply cross a border to make their transactions happen.

Mate, this has happened before. Why people are still surprised whenever there's a cracking down in China and whenever they're announcing that crypto transactions are illegal? How many times did they ban bitcoin, icos, and crypto transactions before?

This is nothing new anymore and they're riding the Evergrande's drop and I think they're now doing things so that they can accumulate as much as they can.

Do not ignore the sign guys, buy and hold.

Ahh ok pretty interesting, i was already wondering what has caused the big and very sudden price dump a few hours ago but i guess this news pretty much explains that. I also have to say though that i am surprised that this kind of news still has any impact on the market. I mean, come on, how many times has china now banned crypto, declared that crypto is illegal or did other similar stuff? To me it feels like that we have such news from China at least once every two months or so. If this was the only cause for the price dump that happened today, then i am pretty confident that the prices will recover pretty soon and that it will not go down any further.

Negative news about crypto from China always has an impact on the crypto market, perhaps because many of the main sources there are related to crypto. previously about the binance. then about the ban of miners in china . and now about the illegality of bitcoin transactions there. and maybe many people believe think like this will have a big impact on the crypto market. personally i dont.

I didn't expect that the same news from China had the same effect over and over again. bitcoin - altcoin - crypto, banned many times and made the price drop fast. however, I don't think that such information will bring the price down again, but it looks like China has considerable power in making moves on bitcoin and others crypto. In fact, just a moment ago, Evergrande also affected the prices of investments, including crypto, and that was also related to China. but I believe the price will recover. So, let's see how the price recovers
 

What’s new here? Every year they release a bad statements about cryptocurrency and it looks like the panic is getting slow because we already get used to this kind of news from China. They are trying to create another FUD so they can buy more maybe, hopefully people already realized that China is just messing around and ignore this statement, for sure they’ll make crypto legal again before the year end.

I think China doesn't update the news for bitcoin, always uses the same news, unfortunately many new players panic about this news, but if newcomers like to read, they definitely won't panic if there is bad news from China, China should also be more forward in spreading fud . by acting first and seriously then publishing the same news about the ban on bitcoin mining

We all have been hearing this for years now, and still is being a cause of panic and impulsiveness of the many until this time around. Newcomers are definitely being affected by this repeated news because they have no idea, but I hope just like what you have said that they won’t be gullible and do their readings regarding it. I do not know what is the definite intention of China for releasing such but one thing is for sure, crypto won’t stop because of it.

China is a big market, a lot of crypto companies there and before, this kind of news was created a huge panic in the market but today, it seems that market is not reacting that much maybe because this news has been made many times already, and yet they failed to destabilize cryptomarket.

This is temporary only, we only knew how the Chinese government plays the game, they can’t totally control cryptomarket and they knew this one even if they spread news like this, they wont succeed.

Honestly, I myself feel quite indifferent to the current news of the market, there is good news that it will increase in price and vice versa, this has happened all too often in this market. But anyway, those are lessons for those who are new to this market as well as will be trained more in patients, perhaps the next time will be really exciting so no need to worry much and relax with it.

In this case, it is surprising that a publication like Bloomberg publishes fake news that is not even news, since it was published back in 2017. It can be assumed that Bloomberg is fulfilling someone's order to discredit bitcoin and undoubtedly this was aimed at reducing the price of BTC.

China is doing the same thing to crypto that elon tried with doge and bitcoin, remember to fill your bags when the market is bleeding. You'll thank yourself later.
They done did this a few months ago they're just using their Media power to lower the price... This is like the 10,000th time China has done this... It proves to me that China is still very much involved in crypto because why else would they keep banning it every few months... There's nothing left extra to do ... China banned crypto in 2010

I have a different opinion here if ever the said published article is the truth. Whatever China says, against or to support will just strengthen the crypto industry.
People, investors, average cryptocurrency purchasers today have different views and whenever they feel like someone or something is being attacked by a strong entity they will check it or better, they will side with it.
This is not much different with the social media and business industry, China bashes one business and suddenly that business grows exponentially.

Things that China has banned:
Google in 2010
YouTube in 2009
Facebook in 2009
#bitcoin in 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, and 2021.
The bit coin of a thing will continue given them problem. If this news happen to be true, they should leave bitcoin for other friendly countries.

In my opinion, although the article explained that The China Central Bank said all crypto transactions are illegal, but many Chinese people like crypto, especially Bitcoin. In the local china sub forum there are still those who participate in this forum. And what is clearer is that there has been no closure of  market exchange cryptocurrency  in China. So I think cryptocurencies still exist in that country.

China is one of the major countries with power thus the reason most of these fuds affects the market even till today. But one of the funny things about China bans is that, since time immemorial they have been banning Bitcoin or cryptocurrencies, and till date they are still banning it, that is to say, all these are just fuds to manipulate the market because for them to keep coming up with news like this means their citizens are still very much involved with crypto and everything that concerns it.
Also, I came across a twitter post where it was said that, the ban was made since 15th and the news only appeared today, if such is right, it is enough reason to know that all these are just manipulation to shake off weak hands.
This is crypto where volatility is high and where opportunities are boundless, thus one need to make good decisions and hold on to coins that are worth it while paying little to no attention to all these fuds.

In crypto activities, I don't like the way China is playing, let alone the content of this news. The strategies played by them are too easy for children to know and children can also practice them too. They raise negative issues about crypto then if the issue is successful, then they will buy in large quantities. So, don't focus too much on news like that.

You need to understand it very simple fact, the majority of the people that are in this market are not really interested in the intangible benefits that bitcoin provides, like being able to be your own bank, not relying on a third party at all, having money that cannot be printed at will by the governments, etc. they do not care at all about things like that, so we need to wonder what do they care about?

And that is making money in this market, this means that any news that is believable that goes against the potential  world adoption of bitcoin is something that they are going to use to sell their coins, push the price of bitcoin down and then buy it again but for a cheaper price, so I recommend to you that you do not worry about such people in the same way they do not really care about this market.

This is really crazy but I'm still wondering why people will choose to deceive other while they take the lead. We I don't know the accuracy of the news but if this is true then it's the same old story we used to hear...China ban Crypto activities. It's normal and we are not surprised about the news. Maybe it's makes us stronger everyday we look into trading.

Temporarily, yes. If we're talking about the Bitcoin network, then the government can prolly influence the market and cause a plunge in the price, but that can only be sustained for the short period, as the coin will definitely shake it off and appreciate again, even though one doesn't like how governments make most of their decisions, but we can't deny the fact that they have quite a lot of influence, and even though they can't control the network, they can influence it, either positively and negatively.

Having said that, it all depends on the coin you're holding, if it's shitcoins/pump and dump, then this sort of news can knock them out completely as there will be a major exodus of investors from their network, but if your portfolio is made up of long term projects like Bitcoin and Ethereum, then you should be rest assured that the Chinese government nor any other government for that matter can only temporarily affect the network with their sanctions.

What can they actually do to enforce this though? Pretty much nothing.

If that's the reason for the dip today then evecryone should buy up.

They cannot trace pseudoanonymous addresses to actual people with 100% accuracy and they would certainly not expend that much energy in enforcement efforts.

The Chinese government is doing these gimmicks for a very long time and whenever these sort of news comes out the market usually reacts and still i could not understand why that happens over and over again. There is no data suggestion that the government is manipulating the market and making  a huge profit doing that and unless we have these evidence we cannot come to a conclusion that they are manipulating the market to benefit.

 

Actually, this issue is rising up after the problem of mining in that country is solved. Many miners move their mining activities to other countries.
But, China is still China, this country will always give bad news to crypto, this country will never end, from the past to the future  ;D
And yes, although we don't like it much, in fact, China can shake this crypto market. China is a big country, this is the competitor of the US.
We know that this country always uses its power seriously and significantly to do whatever they want to do and they must be successful in doing that thing.
Actually, this news is ever raised several months ago and today it is common up again with bigger trouble.

Another day and another FUD was coming to the crypto. So many time china was spreading FUD to the crypto. it seems like crypto must not touch this country again. Crypto was feeling fine without the adoption was coming from the china. that's why there's massive migration by china miners to the another country. it seems like another FUD will come but bitcoin still able to retrace its position to the above 40k after it gets dumped to the less than 40k in a short time. I think that the community must also start to ignore any news that was coming from the china. even if this is an old news but people are still taking this as a serious problem while evergrande's impact still happening right now.

Actually, crypto market is so volatile that every news can change the price very significantly. But I don't think that only chinese government is guilty for this fall. To my mind, the market was just overheated, so it is a regular correction. Moreover, there are shocks on other markets as well (stock market). It is caused by difficult economic situation around the world.

I believe what you said did have a big impact on the crypto market which is currently falling. but the moment will surely rise again. we will see the market will grow in the future.
After mining was banned now China banned crypto transactions. the impact is quite large and indeed can change market trends quite quickly.

The ban applies to all digital tokens, which China said are not legal and cannot be used as a currency in the market. Online crypto services to Chinese residents provided by overseas virtual currency exchanges are also considered illegal financial activity. The ban applies to crypto derivatives trading, too.

something like this happened not only once, because previously China also gave negative statements, and every time they released news the market immediately fell in price, but indeed not long after that the market rose again and the effect was only temporary. so we have to be able to deal with it, so we don't regret it later

Crypto on the fall because of what? one of them as you mentioned above https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies. What should we do, just relax looking at the news like the one above, just the sound of the firecrackers, don't be afraid, then cut loss and if the mining is closed, the miner just needs to move to another place, where can it be closed and then immediately stop mining.

Chinese citizens should adopt 0xMonero and DERO to keep their transactions private.

China is always in the news for the wrong news, thought smoking out it's crypto miners with its " carbon footprint reduction" reason was enough but now they seem to have gone in overdrive and trying to fix everyone to stop using crypto as a lasting solution. As far as I know , What these guys are doing is an expensive undertaking which will be a waste of financial resources with a small benefit to be attained , I would rather the redirect these resources to more meaningful stuff than trying to disband the crypto community over there.

Not first time. There’s always something different about the bans, but this happens all the time and it’s never really dramatic in the larger scheme of things. I expect same this time.

One of the reasons I think that a lot of people don't like China is when it comes to cryptocurrencies because China often manipulates the market. When the market has caused the price of coins to drop, they buy up coins when the price has dropped and they always have a negative influence on cryptocurrencies which can disrupt the country's economy because the crypto transaction system is not controlled. I think the news is included in the list of news that is not clear.

I really think it might be something to do with the fact that it has been a long time suspicion by many cryptocurrency followers that China has been planning to create its own cryptocurrency called the Digital Yuan. Now they are making steps to ensure that no citizen will be transacting in cryptocurrencies and that is not really a surprise as the opposition against Bitcoin and cryptocurrency in general in China has been ongoing for years now.

For China is currently developing its own cryptocurrency, in fact they have banned mining in the country, China has great potential for crypto to develop with the majority of the population controlling strong resources, they are preparing their own cryptocurrency in their country, so that in dependence in the future people will turn to the country, with many considerations so that China must maneuver or speculate to raise a branch to the cryptocurrency they have, and the possibility of what they do, the success rate reaches 80%, considering the many resources they have that can exploited.

They can ban everything in their country but it stops there. They cannot do it worldwide since they don't own the globe.  ;D
They keep on pushing about banning Bitcoin and they did it a long time ago. It's just digging the grave to create sympathy and make people be part of their madness.
Looks to me like they'd do anything even if they stoop so low just to bring down the Bitcoin technology and then offer their self-created cryptocurrency. It's too damn obvious and they want control with multi-billion dollar industry.

Yeah, Since it's more volatile and more risky i think government was right to doing some prevention step but i don't think by making it ilegal was an good choice, Maybe Chinese Government can take an refrence from other country by making the crypto as Trading Commodities and not for the payment tools, Beside that as you said current economic situation was also affecting the market so we can't blame only on one side for this matters.

In general, China has great power to shake crypto, but to maximize that power they have to do many things, the Central Bank of China issued news like this not without reason, they dare to say all crypto transactions are illegal because there is great power behind them, so it's no wonder they issue statements like this, but for the issue of trust this is different from the idea that crypto is illegal issued by China, trust in crypto has been built from the past and this does not involve any country, but the effect of the risk will still be in the future.

In my opinion, their prohibition is part of their strategy to play the market price. The rest they will take advantage of a bad market to collect lots of valuable coins when the price improves again. From time to time, China continues to ban crypto activities for various reasons.

The same thing will not be possible to happen again or happen again at a different place and time, because you can see how the situation and condition of cryptocurrencies in each year, does the same thing happen ? I do not think so.

I'm beginning to get pissed too about China and cryptos, really. My first thought immediately I saw that news yesterday was to speedily check the price of Bitcoin. Luckily, there wasn't any sharp fall as expected and the current price too isn't showing any sign of beating at the moment. Frankly, I just want to wish China away; far away from anything cryptos. That country hasn't cast Bitcoin in good light since it first banned it in 2017. I think the overall problem with China and cryptos is that the country hates anything it can't control. No single individual can control cryptocurrencies as a whole, and this is where China is losing the grip. If the price didn't nosedive since yesterday till now, it shows that investors are beginning to neglect China and its antics.

I slightly agree with what you say because basically China is not a stupid country that doesn't know about cryptocurrencies, moreover their economic circulation is very wide and large so they can always have an influence on the market, so they can just do that in order to achieve more profits a lot in a short time.

They're not tired spreading bad information about cryptocurrency so expect there will be more in the future.. I dont know if  they trying to convince investors to switch to their own digital currency or they really want crypto market to collapse? .. Because you know they keep posting the same thing every day or months. Lol so perhaps china wants to conquer the space like what's happening even in real life wherien they're claiming other countries territory. for example the "Luzon sea of the philippines, china claiming it's south china sea. Lol..  ;D

I don't believe China they have repeated it so many times and I get bored with Chinese news or bans. I believe dumping has nothing to do with that statement If it is true, a verified article as there is a lot of fake news these days, IMO, China has no control over crypto, that's why just relax and wait till the market recovers and stay calm and never sell any of your coins, be patient and wait we shouldn't let whales our emotions.

I haven't seen news like that in a long time LoL in the past there was also news of the same illegal crypto in china but there were still many holder and they said it was fake news to made a panic ,in difficult times when the pandemic everyone is more familiar with crypto and investing for the long term ,such news maybe by some journalists who want to manipulate market or it could be a financial institution just a temporary thought

We could hope for the next that the best possible thing will happen, there is nothing wrong with being positive after all, but of course we should not get our hope too high. This is definitely a heads up for the newcomers that not every single information that is being posted must be believed right away, checking its credibility and researching more is a good thing to do.

China is like that, they always make everyone panic, the news is deliberately made to drop the price of bitcoin and people will buy bitcoin at a cheap price, because so many miners are doing crypto mining there easily, so everything is done by China to turn off cryptocurrency there.

This is not the first time they spread out fear, They are now celebrities in making FUD. Now Investors no longer care about it. They spread these ban incidents mainly to create instability in the cryptocurrency market, that's why they can buy the dip. A few days ago they spread out a breakdown of crypto mining in china, Actually, they made a lot of money by buying in the dip at that time. now they are doing these dramas to buy in Low again.

Oh God, search the internet for how many times China has banned cryptocurrencies. These are the most common manipulations. news. A refutation will be posted soon.

There are still many countries that accept crypto, we have EL Salvador and it is likely that in the future the list of other countries will increase to accept crypto, if crypto transactions are illegal, why does paypal accept buying and selling transactions using top coins like BTC and ETH?
China is only making statements that have no proof, because if the transactions are illegal, why have they not banned crypto transactions in their country since the advent of BTC, Because until now we can still use crypto for transactions and trades on top exchanges.

It's been several times now that I heard China ban Bitcoin and other cryptocurrency, and for me who cares, due to there are lot of countries in the whole world now that are adapting the concept of digital currency in bitcoin or altcoins. If ever they are doing it, surely there is a big purpose for them, and besides, it is their understanding only that it is illegal. But for me is not.

If China really decides that cryptocurrency transactions are illegal, then they will not write about it on any portals and news outlets. Everything will happen there much easier and more efficiently, the state news portal will announce this, and that's it. There will be no questions about this.

When they do their CDBC or whatever it will be called, a digital yuan basically then they will realize that nobody will care about it if it doesn't have any connection to crypto at all. What is the point of a digital currency backed by a government if there are no connections to crypto world?

It only makes sense when you manage to actually connect it to some other thing, that is the best path to make a profit and we do not see that at all right now. I understand that it is not profitable for a nation to let their money go to foreigners but they would be getting crypto which actually worths something in exchange of money they just create out of thin air so I would say it would still be more profitable if they let it be.

Yeah they've been doing these in the past thats why these kind of decisions arent already shocking news anymore and just let them be because there might be again some u-turn decisions to be made

again.It is just that they are really having some fun on making out banning there and banning anything that do oppose their interest and now they are making crypto transactions to be illegal?

Its their decision to make and yeah its sad but doesnt mean that the market would stop because of this kind of decision.

"China has banned all crypto transactions," this is the hot topic of Trading discussion, economic, Bitcoin discussion, altcoin discussion and almost every section. The Chinese government is sometimes embarrassing us with such news. So I think there is nothing to panic about. Just wait and see. If Crypto is illegal in one place, it will be legal in ten places.

Chinese media says Banks are not allowed to accept crypto as legal tender.

US media says China bans all crypto transactions.

Chinese media says China bans unregistered crypto exchanges.

US media says China bans all crypto exchanges.

No one knows what China wants. China bans crypto-mining nationwide, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks. China bans everything that gives its people more freedom. The crypto ban in China is the biggest confirmation of how much freedom crypto brings to the people as it unchains them from governments and central banks.

We know this kind of message come often now and then and we dont really know if the news is true or not … I think only people new to crypto would be shaken by this news and hopefully the news isnt true… most countries governments are really looking into cryptocurrency and since they know they can’t control they are trying to force it out

What china want is power and power can be only achieved if there is control over the flow of money in the country, and thus china will never accept these modes of payments bcz if it is allowed then the government will lose control over the same.

One of the reasons why China has declared all cryptocurrency transactions illegal is that crypto assets are not backed by anything from the real sector of the economy. It is strange that Chinese officials only now, many years later, have noticed this feature.

The movement of this thread, as far as I'm concerned is proof that crypto currency peeps don't take China seriously at all. They know what shenanigans China has against Bitcoin and against Cryptocurrency as a whole. So with that, what will happen now is that China will be ignored altogether by the crypto community. Chinese crypto investors who are based in China needs to go do their business elsewhere where crypto is still safe from the CCP scrutiny.

China has been doing this fuds over and over again that it come to the point that the crypto market has become resistant to it. There might be a short dump but just for temporary, or the market sometimes may not even affected at all. But if this will be a serious banning for all crypto transactions, then those crypto holders should have somewhere else to go where transactions are safe and not prohibited. I believe this will attract its neighboring countries to adopt crypto instead, so that those residents from China will create transactions in their place and they could make a huge amount for taxes.

^ Definitely right this is not new, they keep spreading FUD because they know that there are a lot of newbies holding their BTC and once most of them believe the FUD, these whales are very happy to see people that on the FUD. Probably people of China don't have a choice, probably some of them keep holding until there is no FUD. Sometimes, the government in China lifted the ban and restriction just like what happened before. So that is the reason a lot of people there are already immune to this kind of news.

That would depend if you are coming into the market or already in the market, you should know that this action will not only stop retailers and Marchant from doing cryptocurrency, it will also stop institutional investors together.
I still think adoption of P2P will help secure everyone transaction including the new investors but then you know, it's not everyone who want to go through KYC because they want to get into cryptocurrency and you know governments can be sneaky a times, they will go any extent to catch who go against the law.

Again and again we heard thes news of crypto ban from china even forcing miners out of the territory so I think these things shouldnt surprise you Thesame people banning crypto are the ones going for a digital currency so get your maths right here They might not like crypto very much but is a time thing i guess Sooner or later they will rebound all these I dont want to get involved

They keep doing this but their people are finding a way to continue mining and this government got crazy hunting their own people just for the sake of hatred and greediness. They don't have any reason why it cost like this but it was their government who think that crypto existence is a threat to their economy.

Well, that was their decision, they are free what they want and yes, it won't surprise if sooner they will welcome crypto again as they did before and ban it once again.

That is what I also think. That country always does this every time, they always try to forbid their citizen to enter the crypto world, ban all crypto activities, and also scare the citizens not to be related to Crypto, increasingly tightening the regulation on Crypto. And it seems like it will continue so whenever it is not shocked again if they will exhale various Fud or Bad News again in the future.
But their citizens always have idea to enter in the crypto world and get money from this  :D

I have often heard Chinese statements about all crypto transactions being illegal since 2018 or before, but they are not able to disappear crypto from the internet world, crypto is a modern transaction that can be used as a reference for future technological progress, for me crypto is a transaction that unique without intermediaries

In my opinion China is making frantic effort to promote its currency - digital Yaun. So long as they have a digital currency it only means they want to subdue other currencies and promote theirs. China current stance on crypto currency will only impact the crypto world for a while, the crypto world will continue to thrive because many people, especially individuals in various parts of the world have embraced crypto currency as a result of its numerous advantages.

Probably, they noticed they have not made the impact they desired, but they fail to realize that they are only one country out of many in the world that have allowed the use of crypto- though not official in some instances. Many countries and financial institutions of the world are currently making effort to embrace crypto and the blockchain innovation. So, China's stance on Cypto is only momentary. The crypto industry will grow despite China's opinion. The advantages of crypto, in my opinion, surpass its disadvantages.

After someday they are trying to make some fake news I don't know why they do this but this news market goes very down and all of the small trader's lose from the news so we should carefully handle the news and need every investor and trader.

China couldn't manipulate cryptocurrency so they're definitely against it. They are always releasing negative comments about it. Despite all their statements about crypto transactions, it doesn't affect the market that much. It will always stand firm despite all the allegations that China might throw them.

The point of their sudden decision about crypto currencies is they cannot control it and they just wanted to totally dismiss every proposal about it and they make a one-time big-time move which is put a prohibition of everything from transaction to even owning it.

This is when they have the chance to put a judgement on their current power. that's why we cannot take anything on these people because they wanted to push down the success of El Salvador by making a big fuss about cryptocurrencies. I hope the crypto industry will not mind their decision. they are just one of the big bullies in everything they opposed.

When it comes to economic strategy games, China is great. They plan something well then in their plan make their business rivals emotional. For example in crypto. They try to manipulate the market by developing the issue that crypto is a danger to the country's economy and so on so that the price of the coin decreases. When the price drops, I'm sure they will buy in large quantities.

this is a mere trade war, other countries play a role in bringing down this momentum, so the global panic causes the price of btc and altcoins to plummet, there are even 2 contradicting news causing clarification from the Chinese state.

Majority of small investors are sheep and afraid. You cannot make it in crypto with that mentality. You have to be fierce and ignore all fud and dramas. That's the only way to win. China fudding to fill their bags even more, everyone should know that. Do you really think that China would ban something like cryptocurrencies for real?

It’s no longer shocking whenever they announce banning of crypto because they always do and after sometime when dump then hype happen they are the ones who introduce new coins or platforms. There’s no way to stop crypto now no matter how they ban it since it can be used worldwide with ways to change IP or go in other countries or asking friends from other countries one can still trade or do their usual crypto activities.

There are so many issues from China that have an instant effect on the price crash of the crypto market but they deliberately don't publish the news gradually, hence identifying large deposits in cryptocurrencies when the market is down and then the next issue might be published after take profit.

I am hearing this kind of news from china since 2016 when i involved with crypto. China always try to create fud. I don't know what's they're gaining by doing this everytime. But the good news is their news are not effecting market like before.  

Correct, China doesn't want to miss the next opportunity. This is sure that we are waiting for the big opportunity because of the fake Chinese announcement. If you calculate their announcement and time, then you will know that all are fake. They didn't care about the cryptocurrency for the last 2 years. But the Chinese government started to ban it from the first quarter this year. Ok. Let's predict the future. The Chinese government will accept crypto transactions.

I don’t know if the news about China is what is really making the price to go down or maybe it's just the regular up and down movement That We usually see in the market. It can just be a coincidence that this is happening when they are making such a statement. There has been times that the market will go down and people can’t tell what has caused it, and all they would do is start looking for what they would say is the cause of the decrease.

Maybe one news or the other might pop out and they will use it as the cause of the decrease,  when that is really not the case. We have all known that the Chinese government has been against Bitcoin for years now, so I don’t think this should be something that we should still be talking about by. That they make a statement that they have been making for years wouldn't be a reason that the price will go down all of a sudden, when we know that they have been making that same statement for many years now.

I dont know if china is banning crypto currency in their country but base to the link you provided and as other say its a fake news. China is a big economy thats why they think crypto currency will be a treat to their economy because we all know that most of the big whales in crypto currency are in the U.S thats why some people make a fake news and articles to make a bad effect to crypto market.

No, this news is true. China’s news of a total ban on cryptocurrency is true because they need to defend financial stability. China has developed rapidly in recent years. The Chinese government cannot allow any factors to affect their stable development.

I had been hearing this every year yet they not banning at all, they just want to make FUD just to buy at low price. Same old news, yet everyone still panic and I don't know why people still believing this stuff anyways hence china also holds bitcoin. Anyways, only newbies fall for this old and recycled news every year and only strong hands will be victorious in this industry. HODL is the key in this industry.

Well its been always a scenario in the crypto-space that china announces crypto as illegal that creates FUD but after that they will lift the ban because they already accumulated an enormous addition in their reserved.

I think China has the power to shake the market with a statement issued by them, just look at the market conditions after the statement from that country!! we can see that all prices have corrected or decreased. But we need to understand together that China has banned digital currency for the umpteenth time, but it has not made digital currency worse. Therefore I consider the Chinese state ban has no effect globally but only for panicked people who are afraid of losing their assets.

China did that several times to clear crypto there. actually it doesn't really matter, it's just that because of the many negative news about crypto out there, many people panic and sell their crypto. that's what makes the crypto market shake. moreover, of course, there are certainly many Chinese crypto lovers and if it is banned then crypto lovers will decrease and that makes the crypto market even more shaken. but don't worry too much, the crypto market will recover and many countries are still supporting crypto.

Every market cycle I always see this FUD news and I am so familiar with the act of china like this because what they will do is once that the FUD is successful that's the time that they will start accumulating and adding up their hodlings.

Yeah, I though they are seriously doing that but after looking some previous statement on some years before looks like they are just manipulating the market i suppose? You can see some impact when China Govt make an statement about this but ended up reaching ATH, beside that it's look like they are forcing or promoting their CBDC. Not sure too but i can't take China statement seriously anymore, They are keep repeating it for previous years too.

Is it true that one of them is the prohibition of cryptocurrency by them?
Because if it was true that one of them, my guess was true that it was a strategy used by China to reap a big profit from Cryptocurrency. So far that I know about them in cryptocurrency activities like that. Or it could be what I thought was wrong

That's the biggest problem for the centralization, the centralized authority like Government don't want you to transfer your money without their concern that wanted to track you and verify the transition and at the end put some tax to their citizen and earn income, these statement is really a balderdash they should understand banning is not a solution crypto and blockchain is making alot of goods and introducing new technology to world

I wonder why China always issues statements like this, prohibitions and rumors that crypto is something bad, I think China is just afraid that the currency they will make will not be able to exceed the popularity of BTC which is the origin of crypto, so they are trying to reduce the influence of crypto in their country and bring out this kind of bad news, but in reality the impact of the news they make is not that big.

It was really tough for me to hear about this news for real. It has been claimed many times that China banned cryptocurrencies but those kind of news were not more than just a speculation. However the situation is completely different now and the government really banned them this time. There were so many crypto users there so I wonder what they will do from now on. And I hope to see the market not being affected very highly by this action.

In fact, this kind of news has no advantage other than giving the whale the opportunity to lower prices. For me, this has also increased the price of UNI in my hands in disguise.

The launch of the digital Yuan could destabilize the cryptocurrency market if the Chinese Government tightens regulations at the same time.
When the digital Yuan will be one of the biggest risks to the crypto market once it is introduced later.

Yes, China is known to have repeatedly issued statements that made the price of crypto currencies plummet, especially Bitcoin. I don't know what the intent and purpose is even though China is also the largest crypto market share in the world.

But everything China does is only temporary for Bitcoin and other cryptocurrencies, because there are still many people who believe in cryptocurrencies and for future investments.

There are many factors now that affect the market, unlike before before 2017 hype wherein every news of banning, restricting from many countries especially in China affects the market. Every news before makes the market to hype or dump. Now, many were disciplined enough to wait and trust the market. There are also organizations and big companies who involves in the market now,Maybe Chinese people already have their own way to do crypto despite the change of mind in banning and accepting of their country. We can just take every banning they do to buy at dip.

it may be true what you say that china has another purpose behind their statement, it may be that they want to manipulate the market by driving up the price of the digital currency they created. as I said before where a situation like this will panic some asset holders, in contrast to the previous prohibition, I see almost everyone experiencing a severe panic so that almost all digital currencies undergo a massive correction.

I dont know how every few months we get the news that China is banning crypto currency… China in a big country like US and this type of negative news tends to affect bitcoin and prices dump but we have see riddle of a boy who cried wolf and this time the news didn’t really affect bitcoin much… lets all hope they get there affairs in order and everything works out for everyone 

How much can you tighten and simplify the cryptocurrency in China, and they started so well, because they were the first to make their own stablecoin at the state level, and now with their own bans...maybe they want to keep only crypto yuan in this way, and push competitors out of the market, but this is not accurate.

I don't think so that these Chinese people losses faith in cryptocurrency, and there's no fact checks for this stories behind us. Only main stream media made all statements like this at worst perceptions, basically FUD started to fool our minds which isn't healthy for our mental capacity. Most traders specially Chinese residents would tend to worry, also with other countries who was also having huge numbers of holders.

China has even hit the second largest position as crypto holders all over the world so this statement simply totally contradicts that Chinese people have no more faith in bitcoin. I think its more on the government that has become so manipulative and they can do whatever things they want just to give way for their own YUAN and so that all the Chinese will make it as a priority over bitcoin and other crypto coins. But the question is will YUAN lasts for long? I mean bitcoin has been here over a decade so more likely, its potentials cannot be surpass by YUAN or any digital curerency.

Theres nothing new here. As a communist country, they will do everything to control its people in everything which they cant do with crypto. They will do everything in their power just to have your assets. First they ban the mining industry, now everything that is crypto related from trading to even the tradingview tool. However, chinese people are smart. According to statistics, they own a large amount of BTC which is why their government are afraid to. Chinese people will be more likely trading through p2p at blackmarket.

The question is why now? It seems banning and unbanning crypto is another way of screwing crypto value to buy at lower price but honestly it's not going to work anymore, crypto can't be fully ban but it's users can be stopped through centralised access, another reason why this is happening might be because of Central bank digital currency but I'm sure this ban will be lifted in future

China is a major force in every sphere of human endeavor, and crypto is no exception. And another fact, is they have the biggest mining hash in the world of bitcoin. I don't know about other coins. So when there is a ban, obviously the effects would be worldwide. My grouse is this ban is getting irritating. They keep on doing it and this time around there is little effect

The total of FUD information related to China in the past 12 years is 17 events. Among them are many types of news from: fake news, media orientation, hacking, new regulations, bans... generalizing the issue, over the past decade, China has created 17 FUD news for the crypto market.
And we all have to acknowledge the fact that China's FUDs over the years can only cause a little correction to the market, but cannot completely "kill" cryptocurrencies. And don't be too alarmed by the news.

Any transactions involving crypto are now deemed to be criminal financial activity. The bank told financial and internet companies to stop allowing crypto trades on their platforms. Foreign exchanges are banned from providing services to Chinese residents too. It very sad, china always doing the bad things to cryptocurrency and ruined our party.

My sympathy is on the residents of China that are finding it more difficult for now to transact in exchanges or otherwise, they may be sanctioned. But as we all know, China has been very impulsive on their decisions so whatever comes out today, they might regret it in the future. And probably China will have to change its laws again that prohibits crypto.

However, as for the residents in China, they might hold their coins for long, or maybe sell them in other countries wherein crypto is legal.

I was not very happy to get this news. China has been opposing cryptocurrencies a lot for a very long time. And they finally reached their goal by banning them all. But this is not the best way to handle this situation I think. I know that they are against cryptocurrencies because they want to protect their people. They did the same thing when it comes to some social media apps also. But when it comes to cryptocurrencies, regulation is a better way than completely banning. People should be free to use whatever currency they would like.

China is doing this from several years and geuss what we don't even care anymore because we know what they're plan is they just want the first place in every site.
Don't believe what they say they just love Bitcoin and that's what is it.

This allegations are possible as I have suspected that is what China is up to. If not why is the country always hitting bitcoin every now and then. I hope it will loose with this approach of trying to manipulate the market. I do not know why is China not copying other countries supporting bitcoin instead of trying to destroy it.

This is not a new phenomenon. I have heard about this kind of rumor from China's many times so far. It's basically a ploy of theirs, they basically spread such rumors to buy bitcoin at the possible lowest price. So I urge everyone not to listen to such rumors.

I think everyone is used to it already. This should not threaten investors to prevent from buying and holding because if they do, its like they are giving China the chance to buy it at the lowest prices. I get pity with those crypto holders that are stucked in China because it will be hard for them to sell their coins if they want, unless if they will just hold them for a long time so that won't create a problem. One thing i am certain about China, they won't succeed in crypto through banning and making it illegal in all means.

It is not a mere statement what is causing the price of all the coins in the market to go down, this means that from now on they are going to take actions against all of the people that somehow are dealing with cryptocurrencies, this is a problem because as we know there are many Chinese citizens that invested in bitcoin and did so precisely to try to escape all of the measures the government was implementing, and now they do not have this opportunity anymore.

There are still opportunities like going underground and other ways to get away with this crypto ban.

However, it will be a big risk for our Chinese investors, so they need to be very careful if they go on this route. Or take their crypto with them, go to US or any other nations that at least the government is friendly. This is their last resort, but for sure many of them are already thinking this way. The thing is, why they have to wait for a total crypto ban before living this oppressive government?

It's really a sad fact that even Chinese investors are being deprived of their own rights and even opportunities from their own country. If they will be sanctioned once they are discovered that they are still holding cryptos and transact them despite the bans, i know this will put them in danger. If they can transfer to other countries for their own safety and for them to continue creating opportunities with bitcoin and other potential cryptos, then it will be a good initiative for them to do. Might be a sad story, but definitely not a losing part in the end.

We cant deny it has an impact but its not new actually. They already did it before and now just renewed their stance in banning bitcoin and all crypto transactions.

We really cant please everyone to like bitcoin, there are certain countries who banned it but despite that btc is still existing and strong. So forget about China and focus on yourself, disregard those who cant help you in deciding whats best for your investment.

Everyone must have known that China strongly rejects Bitcoin or cryptocurrency, but apart from all that, everything that China has thrown at Bitcoin so far has not had much effect on the market. So I thought not to be too fussy about the statement from China because every government in a country must have their own reasons why they accept or conversely reject Bitcoin and consider it illegal. Bitcoin has been getting better and stronger over time and has even become known to many people, so it is difficult to get rid of Bitcoin.

China sees its own advantage all its life, that all the time they try to control the market price when they see that their cryptocurrency market is not under their control.  They want to ban cryptocurrencies from their country, bring down the market, then invest their money to revitalize the market and maintain their dominance and control.

We are seeing a significant increase in the Chinese authorities' offensive against cryptocurrency ahead of the introduction of their digital yuan. Yes, and this happens in the form of some vague statements, and not in the form of laws that would clearly prohibit the circulation of cryptocurrency in this country. Therefore, I think that after the successful introduction of the digital yuan, the pressure on cryptocurrency in China will decrease significantly. However, this will largely depend on how peacefully the digital yuan and cryptocurrency can coexist. So far, I do not see any particular problems in this. People have already seen the benefits of cryptocurrency and will support and use it regardless of the bans.

It's been common thought that they try to manipulate every market that they are in. And in cryptocurrencies, with the said ban, they're manipulating every single crypto that's being supported by many.

But it's a likely thing that whenever everything is down, they're the ones first to accumulate those cryptos on sale.

Any news concerning crypto from China shouldn't be taken seriously in all honesty, China has banned a lot of technologies in the past and today, those techs are all very big today, China has in the past banned Google, they banned whatsapp to create wechat, if am not mistaken, theyve some time banned Facebook and a host of others, but today, this technologies are at the top of their games, china in all honesty does not have the power to stop or ban crypto transactions all over the world, they are just using their power of influence to manipulate the market, I won't be surprised if later in the future, we discover they did all they did to enable them buy bitcoins at a very cheaper rate.

China is always looking for manipulating the Bitcoin or cryptocurrency market. Every time when crypto market is up they said something to crash the price and take lower price entry. There is little push back when their statement came about closing Crypto exhages but now market has come up again. Everyone now has understand the china policy that not big impact come on Crypto. From my point of view just relax and trade on Bitcoin or altocoin which are ready to make new ATH during October to December.

I think it's natural for Bitcoin to go down some time ago because in FUD it continues, in China FUD, in Elon FUD, in FUD all kinds of things. the solution is to buy crypto with the strongest and safest fundamentals where bad news and FUD are very rare. In fact, both traders and investors are no longer afraid of the sound of fireworks and in my view, they are bored when they hear FUD news, so the solution, when faced with such conditions, is to move to fundamentalist crypto, namely Ethereum!

Regarding the Chinese government has the power to shake the market just with a mare statement I don't think the percentage is too big and it takes a long time to prove that today the market has gone back to normal and green.

I've been here in crypto industry for a couple of years. And its been several time in which I heard a news like this where Chinese government
wants to ban cryptocurrency, but I don't believe on that matter, because Chinese country has their own Mining plant in cryptocurrency and
for bitcoin as well, so how am I gonna believe in this news, this might be one of the strategy I think.

I'm not surprised that this is happening right now because china have been using same trick since past years, I believe they are just trying to manipulate the market and once bear takes over they will buy what they can 😏, a year they bad mouth crypto and put ban and later they lift the ban, China is very good at this

There is no need to care about them or whatever they say because in truth they also want to play a role and politics to get more profit through the market,
so there is no need to ignore it.

news like this that we must dim. If we are getting up, it will become a scourge for our circle. It would be a wild assumption to create fear and panic and this greatly affects the value of bitcoin. Therefore, our role is also very important not to continue this kind of news. We need good news that we must spread. But whatever it is, I'm sure bitcoin will continue to grow big in the future.

The first few bad news coming from China were impactful because let's be real here, population and economy-wise they have a pretty good standing, and becoming friends with a country as big as China will definitely help in the onboarding of people on what cryptocurrency really is and altogether help in cryptocurrency adoption. But as time went by, people got the hang of the bullcrap that China is throwing over bitcoin, and other cryptocurrencies, just like a couple of days ago when they released a statement declaring that they ban all forms of cryptocurrency and related activities, yet bitcoin and a huge portion of the top coins in the market still pumped anyway. Goes to show that people are becoming smarter by the day. Or, do your own research, base your investment choices on facts and not just on mere FUD, I believe this works better in combatting FUD because be it bitcoin or the biggest altcoin on the market, there will be some form of FUD that critics will throw just to upset the otherwise pumping price. If we do our own homework ourselves at the very least we can ensure that the information we get is firsthand and not just some random hearsay

since a few years ago the Chinese state has also banned the circulation of digital currency in its country and even no one is allowed to carry out these activities in the pointed bamboo, things like that do not dampen the enthusiasm of investors in making investments so that digital currencies such as bitcoin, ethereum and other other digital money has the highest price to date. therefore in my opinion, if there is a ban on digital currency in a country, so that it does not become a scary issue for all digital currency enthusiasts

We should not just believe easily in whatever news that come out because some might only be for FUD'S purposes that will make all holders to panic sell. But knowing Chinese government, this has always been what they're doing. For me, their intention is more on manipulative purposes. They might act that bitcoin is illegal and is now put into sanctioned whoever is transacting it but what we don't know is that China owns the second position as the bag holders of crypto. What they are showing is definitely opposite from what they are doing so we should not be fooled by their true intention.

To be honest, currently, the majority of crypto players are fed up with Chinese FUD...

Chinese regulations only apply to crypto players residing within China but not globally. After all, every FUD that China does will only last for a short time, it doesn't last long because their influence in the market is not as strong as imagined.

what you say is true, this is not the first time China has banned it. always accompanied by something that seems reasonable, but there is a clear implication that there is a certain motive involved. The goal is clear, many people already know the speculation that China wants.

if developing countries do it, it may not have an impact, but if China is famous where the largest mining takes place there, of course there will be an effect.
although the effect is starting to diminish because of what the country is doing, it's not just one time and it's always repeated.

but what China did did not dampen anything with bitcoin, because bitcoin is still in demand and made an attractive investment by many people. news like that was one of the bad news for bitcoin but now there is a lot of good news for bitcoin too.

Number one bullshit statement by number one dictatorship country. These guys are like whatever they wanna be at any given time point. Some day they are like most advance crazy hi-tech global over-power and on the other find day when everyone is sipping their coffee comfortably, the China will come out of no where and shock the global economy. I think it's really enough shit for us from the China. Since 2017 there are news and FUD's like this. They really can't make up their minds and they are just playing with the whole world really. What's illegal is, making a mistake while experimenting with deadly virus in the chinese lab. Yeah, that's the mistake and that's what illegal thing is! I believe whatever comes out of China is illegal, they have no right to state what's illegal which is in Public Domain.

Will that statement hold true forever? as long as I was in crypto China did have an important role in price movements in crypto and some Chinese statements always had a big impact on prices at that time so we could find out the pattern that would be given in the future and maybe if it was true news then some time they will give leeway back to crypto so the price will fly to the moon again.

China want their people to use their own digital currency, Digital Renminbi. Its probably like how they ban Facebook, Google, Whatsapp, and use their own apps to substitute it.
It would affect world, but it will really affecting crypto users on China land.

This is very impossible let alone prohibit transactions, because the rich people in the world are also busy using crypto money for their business transactions, the issues of the prohibition do exist, even though it was hot in 2019 when bitcoin was soaring high, I think this is part of the target of people who do not understand the benefits so speculate differently.
if we examine this it is more efficient and transparent

China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically

China is always fudding cryptos, that is their strategy to get down the crypto market and if they successfully down the market they will buy more and then they will make a positive news so that the market will go recover. They just manipulating the market, we should not share this negative news.

I think they can't even try to control the market this time cause investors and traders in China may have gotten an alternative to how they can accomplish there activities in respect of the government ban on it. No matter how China government will try to stop the activities of cryptocurrency in the country, there citizens and others investors will always look for ways to get there transactions done.

Honestly, China isn't that affecting the market now. We can see how China government tried so hard to kill Bitcoin from a long time ago so their own digital currency will have a good place in the country (or even in the world) later, but Bitcoin keeps arise no matter how hard they've tried. Of course, the news got Bitcoin corrected here and there but it's still alive and rocking. IMHO the soonest China is out from the game, the better. They are just nothing but a distraction and it's really irritating.

So far there has been no major influence exerted by China saying all crypto transactions are illegal, if asked if China has the power to shake the crypto market, then we can confirm that China has that power, but not all of them can be influenced by them, even if sources their power has the ability to do that, cryptocurrency is not something that is easy to overthrow, even at the beginning of its emergence, many countries also opposed, but they continue to grow to this day.

For me, crypto transactions made depends if it's illegal or not. Speaking of legal ways, i think normal transactions through buy and sell or trades are legit and legal if the two sides transact knowingly what they do for a transaction, but if someone's account is hacked, the transactions made could be illegal.

I understand that they would want to reel in the fun and take control over the nation, after all why allow anyone to be as free as crypto makes them to be and be in a decentralized world when you want to rule with an iron fist. However, I do not understand why they are not interested in it as government.

I mean yeah do not let your people do be free if you are a dictator, but wouldn't it be easy to start a 10 billion dollar bitcoin mining farm? They have the money for it, they have the machines for it, they can even create their own machines, they have the energy source for it, basically they could do 51% attack on bitcoin itself, they are THAT big, so it makes no sense to me that CCP itself would be against it.

This repressive decision is not new, China has since some time and even since 2013 issued such strict decisions against Bitcoin and cryptocurrencies. Fortunately, Bitcoin and altcoins have not been affected much by these decisions. In my opinion, it is difficult to ban Bitcoin in any particular country by any government due to its design because it is not subject to the control of governments and central banks.

I don't think so they could do that seriously, cryptocurrency has its own independent body and never controlled by a certain powerful country. Even US has no power on that matter, only that China's huge investors was also holders of Bitcoin. That doesn't mean these guys are afraid of that news because it was only a strategy of other anonymous business personality to spread FUD around us in order to crash btc's promising price nowadays.

And as well as tanking the other markets. Think of what they do with US stocks and as well as the crypto market, they're tanking both markets but no matter what they do.
There will still be the time for its recovery and they'll just buying during the flash crash every single time that they tank these markets.

Government always take a radical move to support their own product, its always happen and its good for them. Now our turn is to show off the Bitcoin power by not affected by China news anymore, also i doubt that China gov already soldout their own Bitcoin. Based on this https://www.kevinrooke.com/bitcoin, China have huge amount of BTC, if they sold many, ofc market would be drop, but i believe its a normal action and would recover if we strong against this China strategy.

but what they did didn't last long despite the real effect. China has done this a few times, but crypto is still going up in the end. we do not know what they really mean, of course it is to seek profit for them personally. but in fact we can take advantage of this moment to invest

Worry is important, but it should not be exaggerated, because it will make us lose from the worry, there are many ways to profit from cryptocurrency, not just playing bounty, but many other ways that we can take advantage of, I agree with you , that concern no need to overdo it, all we need to prepare is a mature strategy to do all that, so that whatever we do is able to provide maximum benefits and not too big of a risk that we will accept.

Yes.
It didn't last and look at how much bitcoin is again right now, it just hit $50k and this is a very good sign.

Don't underestimate what China is doing, they have the resources to do anything right now, there's no need to think too much about the news they release, but whatever they do, it will definitely have an effect, even if it's not that big of an impact. But regarding bitcoin, I don't think there will be much impact from the news, because bitcoin is the first coin to be in crytocurrency.

The news that China always spreads about bitcoin is just a strategy to get rid of bitcoin enthusiasts because china made their own currency, due to the fact they can't get rid of bitcoin or at least reduce its popularity, news about bitcoin's bad will only be a passing wind that will not have much impact on cryptocurrency especially nowadays more and more people are interested in Crypto, especially Bitcoin.

Of course this is good news for cryptocurrency lovers, especially in China. because we all know that China strictly prohibits the circulation of cryptocurrencies. maybe after knowing that crypto currency is very useful for the economy, then China finally decided to accept and make its own crypto currency, my friend

I'm not surprised this news when it comes from China because they always doing this spreading FUDs. China is a big country and I think they can manipulate the market but I'm hoping that people in the world ignore this news so that people will not panicking and the market will not go dump.

Unfortunately only those that have acquired a significant amount of cryptocurrencies are going to be able to do this, the rest of them which were holding bitcoin with the hope of improving their future are going to have a lot of problems because as we know all Internet activity on China is being monitored and if they try to sell their coins then the government is going to find out and they are going to get in trouble because of it, so it is going to be really difficult for them to even sell their coins, so the only other option that they have is to keep holding their coins and hope that at some point in the future the government of China changes its stance on cryptocurrencies.

They do.

And that's what they keep on doing in the crypto market. They don't mind what they're doing to the smaller markets and even in taking over in almost everything.

It's what they do all of this time.

They weigh almost nothing and people are already that China is not already involved in crypto nor that they need to create FUDs just to change our mindset. This could still give a small impact on the market since not all are in strong hands, many were still being emotional and they easily got caught with this news. As long as we all don't have faith and trust crypto, this will certainly be happening again and again.

The Chinese government has shown a firm stance on cryptocurrency, they prohibit crypto transactions in china even the Central Bank of China (PBoC) strictly prohibits cryptocurrency trading because it is considered illegal.
China has issued several statement banning cryptocurrency trading, including mining activities. But in reality, Crypto trading and mining practices are still happening in China.
Although the exchange rate of Bitcoin and several other coins dropped drastically due to the ban on transactions in China, but china cannot stop the development of cryptocurrency in the future.

Honestly, I'm not that surprised about this news because China have been always banning crypto over and over again. IMO, China is intentionally doing this to shake the market and to make it dip.

This marks Beijing's latest racheting up of restrictions on what it sees as a vehicle for capital flight and competition for its digital yuan

https://asia.nikkei.com/Spotlight/Cryptocurrencies/China-declares-all-crypto-transactions-illegal-as-digital-yuan-nears

put an end it to cryptos and make it illegal forever ?
 if thats what he mean then it really does have an effect with the price because people will sell their cryptos as there will be no use for it in the future  .

of course they have the power to do so but it doesnt affect other countries . this isnt just a statement but it also done with actions , which is why people act quickly .
its not that people dont have a faith in cryptos but its the order of their government and they should follow it if they dont want to get harmed .

Yes, it's what they're always having as a result. They are successful at most times but that success don't stay for long.

They might accumulate by that time but still they're able to see and knew it that the market will eventually recover and so did it.

Despite of the repeated scenario that China banned crypto currency and announced crypto is illegal, they are one of crypto lovers. In fact more of our Chinese neighbor are using cryptocurrencies and they are investors. Also some of them are so good in development to produce potential crypto. China might shake crypto market but it could not stop cryptocurrencies. The announcement will take effect immediately to crash the market because China is big and more cryptonian are there.

I believe one day market will no longer care about what China has to say about crypto. There will be a moment when the market will no longer believe in the statements of the Chinese government, because the market has often experienced FUD from them. Similar to psychology we meet people who often lie, at first we believe them, in the end we don't care what they say. As long as other countries still legalize crypto as an investment asset, even though there is no China on the list, then even China's FUD will have no effect on the market.

Agreed, even the crash happen, recovers always happen too. If China probably leave crypto forever (No more fud, its a good thing), or comeback later (Would be good too for crypto, more adoption).

Or give access to another person to their assets who is not in the country. The most important thing is that their funds are safe and they can deal with cryptocurrency from anywhere in the world, and I think they will solve the problem in the near future. I'm sure the state wants to control this industry but does not know yet how.

That's right, because when something like this happens over and over again, of course, the results will be increasingly ignored because it turns out that what was originally extraordinary becomes a normal thing because it is like normal.
and this sooner or later it will be like this and when in the future there is news about China related to crypto then the impression will be normal, nothing special.
and I will wait and be happy when something like this happens.
they don't know that when fud and decline occur there is always immediate recovery

I think the Chinese government does not have the power to ban crypto, maybe they can prevent local transactions, such as crypto exchanges with central banks. It's just a game of rumors so that the price of crypto drops, and they come back to buy crypto in bulk. So that those who panic with the conditions they convey will experience losses.

Master of plagiat, Yuan rnb crypto.. the reason China is very fundamental, creates some fud, Make the market crash and all in at the lowest price is old trick that is outdated but still very familiar keeps happening over and over again.. We must learning this trick and apply it in crypto trading can make profit...

Now China has blocked everything, there is nothing more they can do to make another FUD, this year everything related to crypto has been blocked. We should have calmed down from their FUD troubles, unless they are making senseless cases just to ruin crypto prices. Moreover, trading, mining and transactions, all crypto components have been banned, so the Chinese FUD has been over. IMO

From which direction will you try to learn the trick? because every strategy from other people will not immediately be fully disclosed to everyone, because they are also afraid that their strategy will be known by others.

Rich people will find ways to continue. This implementation from the government is not in their hands,

But the fate of their investment inside crypto always rely with them. If they are a believer, they will seek for the better way to make
sure that the government will not hit them with cases against these rules.

Some may flyaway and relocate and others may paused for a while and store everything inside a safe wallet.

whatever plans they've got, for sure, believers will hold and not abandoned this investment.

This is just another FUD from China, if you've been around crypto since past years you should know that most FUD and bans comes from China so I wouldn't let this bother me if I were you guys, aren't illegal transactions occuring around FIAT too? What makes CBDC so illegally free? Absolute FUD

It's quite normal right now. However, China underestimated bitcoin holders this time.

Should China ban bitcoin more often? Let's put this in a better perspective. Prices go up and down wherever bitcoin's management wants them to go. Sadly, it did not work this time. Maybe they should build a time machine and go back to 2010 to ban it and buy the dip. It's possible that China might unban BTC when they have accumulated enough. Indeed, China's FUD did nothing additional.

Forget about FUD from China, eventually, it will not anymore affect the market as people already know China's stance regarding cryptocurrency, they ban it so they don't want it. China will remain negative on crypto so we have to accept that and move on, besides, there are still a lot of countries that have a positive outlook on crypto and they are will to legalize and regulate the market.

This is not the first time china is causing a whole lot of heat in the crypto space as it is one of the major reasons why the price of crypto assets go down towards the first month of the last quarter of every year. But i believe its a strategy to always increase their holdings of crypto and the measures are always very stern leaving no doubt of the fact that they are really serious but at the end, its alwyas the saem old story

We have information about cryptocurrency bans by China at regular intervals. But what would it somehow strongly affect the crypto market is completely imperceptible. The market has not collapsed and continues to work as before. Nobody pays much attention to this anymore.

It won't collapse. There has been a lot of FUD that's made by China and even they ban crypto for a millionth time, nothing will change.

Exactly. We've been hearing and reading that every year and what's next for the next year? another ban wave from them?

Many a time when China makes a pronouncement relating to the ban, clampdown on exchanges the impact on the price of bitcoin is momentarily or shortlived infact it even provide an avenue to buy cryptocurrencies after the news must have died down, ever since  I have been in this forum it was always always one negative news or the other from China, the country had already proved that they are not cryptocurrencies friendly nation at all are always

Many Chinese citizen is already using bitcoins or other crypto coins to make profits and make some sort of payment in the form of digital currencies. But I think China bans all type of crypto transactions because the government itself can't profit much from it and because it is decentralized, they cannot oversee what is exactly happening inside and the Chinese governemnt cannot act as a middle man and have that authority just like any other banks.

Sure China is making a lot of fuss this past few years and they have been making moves arbitrarily and make some countries mad about their system but we can't do anything about it because they even don't care about the international law.

maybe it's true that a time machine is the best way for them right now even though it's an impossibility :D
Don't be surprised when you hear that China is legalizing bitcoin again because I don't think this ban will last long and the case will be almost the same as the previous cases.
but on the other hand this will make the FUD made by China seem like it will become normal because the method is always the same from year to year and the longer it goes on, it doesn't have any impact.

it looks like the ban applies to all digital tokens, which the Chinese government says are digital currencies are illegal and cannot be used as currency in the market for transactions. Online crypto services for citizens domiciled in China provided by overseas virtual currency exchanges are also considered illegal financial activities. This prohibition also applies to trading crypto derivatives.

All the news you see is just an information noise. They don't affect the markets directly. Big guys use them to increase their price manipulations and create FUD news when they need to drop the market and FOMO - when they need a pump. This system works like water pump. And ordinary hamsters doesn't affect anything here. They look like small fishes trying to swim where they want in this huge water mechanism.

Whatever China said it doesn't matter it impacts the market for sometime. In the recent time we heard several news China did this and that but what happened in the end market bounce back with more bang so we should not worried what china is doing we should focus on trading.

what you say is something true and I also see what China is doing not just this once and over and over again, it is certain that there are certain intentions that will be desired to achieve it, so China does everything possible. but I can't seem to force myself to believe it completely. so we know the market is not too volatile and bitcoin can still move to increase. So obviously as you say it is better to focus on trading than hearing bad news.

I had been hearing this kind of news here in cryptocurrency for several years now, its not a new things to me.
Yes, this China was one of the popular country, but their popularity won't affect the market of cryptocurrency
to down the market. And besides, crypto or bitcoin are both volatile in the market as well. And if they are telling the
truth, why the majority of the nations in the whole world not declaring as illegal things?

I agree that China is one of the most influential countries in the world. but I'm not sure if Bloomberg was ordered to make fake news. do you have solid evidence?

I do not agree with this opinion. indeed, back to each individual. but what if the global market is not attractive to crypto because there is a market game by the Chinese state for example. is there still a lot of interest in cryptocurrencies?

This opinion is easier to accept. that people believe that cryptocurrencies have a lot more to offer than sticking to what the government provides

China is creating its own playground and if it wants to separate from the rest of the world, that's okay. Anyway, the market still has to exist and develop, I think the future can have many other big changes with this market. China says crypto transactions are illegal :) , just looking back at the legal issue here, I firmly believe that the crypto trading system can't have many illegal transactions in fiat at the moment.

China is trying to influence the crypto market, but some of the efforts they have made have had little impact. I'm sure they will continue to try to influence the crypto world not to grow rapidly in the world.

China's fuds/negative news is no longer affecting the market people learn and now opposing the directions in where China wanted to bring this industry, there are lots of times where China influenced this venue of investment, each time they bring negative news the market follow that directions and we will see dumped and huge downfall.

But now, despite of this country's direct statement against crypto, it didn't affect the market. Instead, the market continues to grow and expects more before this year will end.

People realize that negative news should be treated as good opportunities to collect and hold your asset, the chance of bouncing back will give you more profits.

I think China doesn't update news for bitcoin, always uses the same news, but if newcomers like to read, they will definitely not panic if there is bad news from China, by acting first and seriously then publishing the same news about bitcoin mining ban

I don't know, but the news was deliberately made to buy bitcoin at a cheap price, and as usual managed to make everyone panic, like the same thing was done over and over again but people seemed to be hypnotized and followed the news into panic, and as usual it worked. China is irrelevant to give such a statement who cares about the actions of the Chinese Government on crypto, China is not the world so let the story fade and die apart from that many Chinese people still use Bitcoin and other major cryptocurrencies I believe that dump has nothing to do with that statement if articles are verified to be true due to a lot of fake news nowadays.

Haha.. They are not tired of spreading bad information about cryptocurrencies so hope there will be more in the future. I don't know if they are trying to convince investors to switch to their own digital currency or do they really want the crypto market to collapse? Because you know they keep posting the same thing every day or month. So maybe China wants to conquer space as it does even in real life when they claim the territory of another country.

China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. "Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets" :P

The crypto community is already strong and unlike 2018, which was still small, even today millionaires and global investment companies make crypto their main investment so that the market is very positive, and I'm sure whatever China does when all crypto is banned will not have any impact on the market.

Well most people don't realize that nobody can stop crypto that's why they keeps panickinhg with every little news and they don't even care to verify the source of such news. Sometimes people intentionally creat such news to instigate fear in the market.

China has not even legalized crypto before, even their NFT alike stuff named 'digital art collections' are not traded by using crypto. According to Shanghai July New plan for NFT, metaverse etc. , it says that they're going to develop more in that field but does not mention anything about crypto. So, what China says about crypto is not really important, as always ::)

China clearly affects the crypto market, because this country is widely developed and with huge capital among the billion-strong population, where the Chinese have a huge influence on the cryptocurrency exchange rate.But gradually the influence is weakening, and it seems to me that this is due to time.

The news that China Banned Cryptocurrencies I have heard since 2015, whether it is true or not but it does not have an impact on the market, even when in 2017 the Chinese government is banned mining, it makes prices skyrocketed, this proves that the cryptocurrencies community is spread widespread and will not affect if there is 1 or 2 banned bitcoin countries, even I'm sure users in China are still active in Cryptocurrencies.

China used to be the world's largest bitcoin miner, but that's gone. Their banning of bitcoin in all its forms from mining to trading severely affected the market, but in the end they were not able to completely stop the growth of bitcoin. Bitcoin is still growing and going up without depending on any country, China has been too delusional about their strength. Today news from China barely affects bitcoin and the market.

China is the most developed country of the antidemocratic world, but for all their wealth, they are intolerant of innovation and people's financial freedom. I think they are a good example for anyone who desires their own freedom. Before we can claim our freedom in financial and social areas, we must first claim our freedom. Otherwise, we may fall into such disgraceful situations.

China has been providing FUD for cryptocurrencies for a long time, I have heard that in 2017 Bitcoin was said to be illegal,
and they were going to ban Bitcoin, however, look!, there are many cryptocurrency projects from China,
so don't worry, news about china is fake!

let them do anything they want but today we are being smarter than before. Fud from China will not affected anymore since majority huge mining company move from China. Investing at anything that being banned by China was good thing, several company prove it. Someday China will regret they could not participate on technology changes that bring alot money for them.

Actually this issue has been discussed from year to year, and there doesn't seem to be a problem in that regard, I think this is a Chinese conspiracy to find space, because what we know is that China is smarter to find space, in order to dominate the world economy, we can see now this is an industrial market and Chinese products are everywhere, it's not without reason they don't have it, it's very impossible for developing countries not to legalize cryptocurrencies..

China is one of the leading countries in the world economy. They are conducting business extensively all over the world. With the changing times, cryptocurrency is now showing its potential to become a global currency across the world. But suddenly China declared crypto illegal in their country. This led to a massive collapse in crypto for a period of time. But crypto recovers from that situation and returns to good levels. Negative comments about Chinese to crypto no longer have any impact on the market. So I personally consider these news as value less.

From the start, China never supported crypto currency and I do t think the Chinese government will ever support it one day. The china government has there own Crypto which can be used for daily transactions but with that, they sti fight against other Cryptocurrencies like Bitcoin and others.

We should not be surprised even with the sanctions and restrictions, people from china are sti trading Bitcoin and engaging in crypto active without stress. Bitcoin is going to do well with time even without the Chinese government supporting it.

I think Crypto will be very difficult to become a worldwide currency because many will oppose it, especially Fiat currency because replacing Fiat currency is very difficult and will cause tremendous chaos in this world, therefore Crypto is better just as a commodity which is monitored so that rumors like this are not often carried out by China because if we look into the past China gave statements like this and caused the price to fall and a few weeks later they gave the opposite statement so the price went back to increasing whether it was a game we don't know that.

if the crypto market belongs to one person then china with its power can destroy it but cryptocurrency belongs to everyone, china who tries to fight only ends in failure.
With their strong communist understanding, China really hates things they can't regulate, especially cryptocurrency transactions in the market.

i did not supprised, why would nation that have bank for printing money would adopt cryptocurrency, if they can't control the quantity and value of capital like paper money. cryptocurrency is a fair transaction that would not impact on inflation since the amount of token/coin are limited to such transparent numbers, and the transaction are tracked.

This figure, which is highlighted in your text, suggests that even strong and influential countries like China do not have enough opportunities to ban BTC completely. No matter how much they try to do it, they still won't succeed. BTC has grown stronger, not in terms of the current price, but in terms of its significance and meaning for users. So, there is no need to panic at the sight of similar news. People have used bitcoin before and will continue to do so in the future. Even in the same China. Bitcoin community can use it without any government approval and doesn't really need to.

I agree with your word we don't need to take panic Day by day the use of Bitcoin is only increasing . And in the future it will go to the point of being used almost everywhere and since it is a decentralized system, I think if they don't legalize it , then they will have  to face problem. I think by banning cryptocurrency they lost their opportunity, they could have captured a big market of cryptocurrency.

I'm not surprised anymore, because China always makes bad news when the Bitcoin price is bearish,
even though my illgeal bitcoin transactions are really stupid! because Bitcoin was not created to be regulated,
it was created for freedom and transparency!  ;)

China continues to do controversy about crypto and it is a natural thing to do by a country that is clearly already very advanced in every development in all sectors. because usually what countries do like this are always able to make their own contribution where they want to be able to develop what the state might do.
it is not impossible that China can always provide different developments by being able to do the same replica, with the aim that they can develop what they have, they are able to do that and the community is capable enough to do that. we just have to wait for the latest information from this versatile country about crypto from their own development.

This is not a bluff. China has completely banned cryptocurrency exchanges, mining and trading with cryptocurrencies. They have brought up this issue many times before. Finally, they dealt the final blow to cryptocurrencies. Moreover, it is very unlikely that they will go back on their decision. They are under the rule of a single political party. And the political party that rules the people does not make their decisions based on the wishes of the people. A population-intensive potential like China would be a huge loss for the cryptocurrency world.

The China Central Bank feels capable of controlling all state finances, even the world's financial system. I think they overdosed on giving statements. Maybe they have other plans behind the statement. If the price of crypto drops with their statement, then they have the opportunity to take part in buying crypto in large quantities. Or they have plans to develop their own crypto. China and America are the strategic owners of the world's business, so they often issue contradictory statements. That's something that appeals to them, but not to us crypto lovers. Because more or less we know their business strategy.

Do you think that what the Chinese Government said only made People panic and made Crypto prices go down even more? I think what the Chinese Government said not just once, but many times.
Therefore I don't think everything that is said is true, but because of their interests or it's just fake news.

China says all crypto transactions are illegal
China states that crypto transactions are illegal because they are considered to disrupt the country's economic order.
And also they say that where virtual currencies are not backed by real values, their values are easy to manipulate, and trading contracts are not protected by regulations in China.

They can't afford to block crypto, even for their own citizens. Crypto can flow from even the smallest gaps. If Chinese citizens are unable to disburse funds to local banks, or block all local crypto exchanges, they can withdraw funds via Credit Card. Will they block Credit Cards too? There are many other methods for withdrawing funds from crypto. The water will flow to the lowest place through small slits. I think there is only one way to block crypto, which is to block the internet network. Lol ;D

It is not necessary to get rid of fiat if you want to accept crypto as a currency, cryptocurrency can be a payment method alongside fiat, which will give people many choices and be more convenience in payment, but in my opinion a world without fiat is probably going to happen soon in the future as people are moving towards more modern, less cumbersome things. At the end of 2021, Dubai will become the world's first paperless smart kingdom, which can see us slowly changing.

I don't know if China is playing tricks or not, but the news they released today no longer affects the market, the market has lost its sense of Fud from China.