No exchanges closing in China - just regulation (edit: not true)

[GazorpPozorpec]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

The Chinese market is just 15% of the global market of bitcoin. Moreover, China has banned only sharing, but many Chinese citizens are also engaged in mining, and the government has not banned!

[2double0]

This is where the real involvement of Government starts. After BTCChina stated they will be closing their trading operations on 30th Sep, everybody started to panic and the results are incredible. A straight 15% decline in a matter of minutes. This made the price break the downside "free fall" level at 3600 and therefore it has confirmed the possibility of something unexpected. Governments are trying to stop everyone hiding their finances from them and that's why they have taken this step, I believe I was wrong when I was thinking that China's role doesn't matter at all. All other services stay open like mining and other such activities being borne by them. The decline was sharp this time and we should take a lesson from this that if a major country backs off of Bitcoins, it's growth may be subdued in such a way that stability may decrease as well as the value will decline too.

[carlisle1]

According to teh following thread, a Chinese exchange called Yunbi will close in three months:

https://www.reddit.com/r/BitcoinMarkets/comments/6zok0c/yunbi_were_to_close_down_in_three_months_original/

I just think all of the chinese traders will be moved into the western exchange sites or even use the decentralized exchange site to get a secure connection to it. But i think all of the exchange site in china will try to close their service.  But that looks weird.

that's the best way for those Chinese who still wanted to stay with this investment allowing their coins to be transferred inside any western exchange
the news of the closure of those Chinese exchange really affecting almost everyone around crypto.

[energico]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

The Chinese market is just 15% of the global market of bitcoin. Moreover, China has banned only sharing, but many Chinese citizens are also engaged in mining, and the government has not banned!

really. I think China hold 40% bitcoin of the world. do you see their mining factory. BTCCC and Yunbi say will close their exchange had made market fall down. Tomorrow maybe will be Blood Friday

[warr1979]

According to teh following thread, a Chinese exchange called Yunbi will close in three months:

https://www.reddit.com/r/BitcoinMarkets/comments/6zok0c/yunbi_were_to_close_down_in_three_months_original/

I just think all of the chinese traders will be moved into the western exchange sites or even use the decentralized exchange site to get a secure connection to it. But i think all of the exchange site in china will try to close their service.  But that looks weird.

that's the best way for those Chinese who still wanted to stay with this investment allowing their coins to be transferred inside any western exchange
the news of the closure of those Chinese exchange really affecting almost everyone around crypto.

Actually the Chinese Exchange OKcoin has dropped the price of Bitcoin to $3,000 in today.
It created a bearish trend in other markets, of course now we do not see any exchange makes the price of Bitcoin continue falls down after go to around $3,500.

[blacktux88]

Think that china wants to find a way to controll the market or event get a little peace of the cake !
They dont want that everybody get rich as fast...

[Invester]

The only reason why bitcoin is going so low nowadays is the reaction of the people. Panic is the main reason why people who are bitcoin holders are easily swayed by such news. Weak resolve to stay strong and remain with bitcoin amidst turbulence such as this is sorely lacking in people.

[elc4pitan]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

Its simple, chinese are moving their assets out of china without giving their government notice of it, which is forbidden, the chinese gov wants to control the wealth that goes in and out of the country and since these ICOs have pretty much screwed what was a profitable business for all the chinese finance regulators are now seeking solutions to keep the money and assets in.

The thing is, china doesn't have that much power its the people that invest in bitcoin and other currencies that are that stupid and greedy, exchanges, news sites with interests in this and that currency and shady individuals that profited from all this spreading panic and confusion, thats one of the issues at the moment.

If china bans exchanges people can still go around them with vpns or out of country exchanges it just takes time to plan and setup.

The worst problem until now are the ICOs and the individuals behind them, this is the only thing needing a permanent ban, everything else so far kept the ecosystem running smoothly.

Anyways if people keep their shit together and keep trading normally things eventually even out as the markets stabilize and climb again.

[MiBambino]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

Its simple, chinese are moving their assets out of china without giving their government notice of it, which is forbidden, the chinese gov wants to control the wealth that goes in and out of the country and since these ICOs have pretty much screwed what was a profitable business for all the chinese finance regulators are now seeking solutions to keep the money and assets in.

The thing is, china doesn't have that much power its the people that invest in bitcoin and other currencies that are that stupid and greedy, exchanges, news sites with interests in this and that currency and shady individuals that profited from all this spreading panic and confusion, thats one of the issues at the moment.

If china bans exchanges people can still go around them with vpns or out of country exchanges it just takes time to plan and setup.

The worst problem until now are the ICOs and the individuals behind them, this is the only thing needing a permanent ban, everything else so far kept the ecosystem running smoothly.

Anyways if people keep their shit together and keep trading normally things eventually even out as the markets stabilize and climb again.

True, but the governments are not without sin. They want the biggest piece of the pie and if they can't have it, no one can. But, like you said, the people are to blame as well. A majority of chinese investors invest in coins because they heard someone talk about it. They don't know the coin, the team, the roadmap, nothing. That's how a lot of them end up broke, which is of course bad for the chinese economy

[Sarcasm]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

Its simple, chinese are moving their assets out of china without giving their government notice of it, which is forbidden, the chinese gov wants to control the wealth that goes in and out of the country and since these ICOs have pretty much screwed what was a profitable business for all the chinese finance regulators are now seeking solutions to keep the money and assets in.

The thing is, china doesn't have that much power its the people that invest in bitcoin and other currencies that are that stupid and greedy, exchanges, news sites with interests in this and that currency and shady individuals that profited from all this spreading panic and confusion, thats one of the issues at the moment.

If china bans exchanges people can still go around them with vpns or out of country exchanges it just takes time to plan and setup.

The worst problem until now are the ICOs and the individuals behind them, this is the only thing needing a permanent ban, everything else so far kept the ecosystem running smoothly.

Anyways if people keep their shit together and keep trading normally things eventually even out as the markets stabilize and climb again.

True, but the governments are not without sin. They want the biggest piece of the pie and if they can't have it, no one can. But, like you said, the people are to blame as well. A majority of chinese investors invest in coins because they heard someone talk about it. They don't know the coin, the team, the roadmap, nothing. That's how a lot of them end up broke, which is of course bad for the chinese economy

the question is whether investors and bitcoin holders from China will stay silent? I think no, there are still pairs to USD, maybe they will move btc to USD

[MiBambino]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

Its simple, chinese are moving their assets out of china without giving their government notice of it, which is forbidden, the chinese gov wants to control the wealth that goes in and out of the country and since these ICOs have pretty much screwed what was a profitable business for all the chinese finance regulators are now seeking solutions to keep the money and assets in.

The thing is, china doesn't have that much power its the people that invest in bitcoin and other currencies that are that stupid and greedy, exchanges, news sites with interests in this and that currency and shady individuals that profited from all this spreading panic and confusion, thats one of the issues at the moment.

If china bans exchanges people can still go around them with vpns or out of country exchanges it just takes time to plan and setup.

The worst problem until now are the ICOs and the individuals behind them, this is the only thing needing a permanent ban, everything else so far kept the ecosystem running smoothly.

Anyways if people keep their shit together and keep trading normally things eventually even out as the markets stabilize and climb again.

True, but the governments are not without sin. They want the biggest piece of the pie and if they can't have it, no one can. But, like you said, the people are to blame as well. A majority of chinese investors invest in coins because they heard someone talk about it. They don't know the coin, the team, the roadmap, nothing. That's how a lot of them end up broke, which is of course bad for the chinese economy

the question is whether investors and bitcoin holders from China will stay silent? I think no, there are still pairs to USD, maybe they will move btc to USD

They will, most of them are scared retards who have no clue where they invest their money. They see the market drop and they sell instead of waiting for a low point to buy

[Maheshkumar_Hrangkhawl]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

No one knows the exact percentage, as Bitcoin is a very anonymous form of currency. But my guess is that the Chinese holdings will be somewhere between 10% and 20%, after studying the trade volumes of various Chinese exchanges. That makes China one of the Bitcoin "superpowers".

[MiBambino]

is it true 20% btc held by chinese investors?
I am confused as to why what happens in China can be so great as to influence the world of crypto 

No one knows the exact percentage, as Bitcoin is a very anonymous form of currency. But my guess is that the Chinese holdings will be somewhere between 10% and 20%, after studying the trade volumes of various Chinese exchanges. That makes China one of the Bitcoin "superpowers".

China holds about 15% of the cryptomarket, but that number is dropping each year. I guess chinese people needed cryptos more than we did, but that's slowly changing. Sooner rather than later, not only will China reconsider, they also won't be able to manipulate it as much. We'll end 2017 under the 100 billion cap, but we'll end 2018 over the 200 billion cap, no worries

[Red-Apple]

@shyliar
your title is very misleading!
Chinese exchanges are closing down: true
but it is just regulations: again true

there have already been a couple of statements from them. i believe it was Yunbi or something that said they were operating without license so the government closed them down.

[shyliar]

The original title was "No exchanges closing in China - just regulation" which news sites were reporting and was true when I started the thread. I supplied two links indicating so. Then the news changed and it became obvious that exchanges were shutting down. Then the edit in parentheses was added.

The edit indicates that the original title is no longer true and it's not.

[White sugar]

More correct title would be: no Bitcoin ban on China, just more regulation