Chinese consolidating not banning (intent to regulate and dominate)

[rancidgash]

From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose.
The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that!

[Proton2233]

From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose.
The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that!

The Chinese Communists want everything, but why they need it. USA is constantly in a state of trade war with China, even if it is not visible. Bitcoin is an extra trump card in this war for China. The use of bitcoin brings a good income to the Chinese and therefore no one will not give up. The Communists, too, know how to count.

[BrewMaster]

every time the chinese government believes it's increasing control with measures like this it's actually ceding control over the bitcoin market.

if not already, it will reach a point where the rest of the world won't pay any attention to the stupid shit they pull any more. they're never going to have the control they want so they should end it all now.

true, but i like to believe that China has never been a big player to begin with. it was all an illusion that Chinese are big and vastly effective on bitcoin price.
but reality was that when you offer zero fee trades without any taxation or regulation, you obviously get a huge volume. that never meant more traders in China.
and i certainly never heard of any real adoption over there such as any real shops accepting bitcoin!

[European Central Bank]

true, but i like to believe that China has never been a big player to begin with. it was all an illusion that Chinese are big and vastly effective on bitcoin price.
but reality was that when you offer zero fee trades without any taxation or regulation, you obviously get a huge volume. that never meant more traders in China.
and i certainly never heard of any real adoption over there such as any real shops accepting bitcoin!

it might have been nothing other than smoke and mirrors, but that control was real while it lasted. the rest of the world always followed the fake volume exchanges.

and yes, other than mining bitcoin is non existent in china. there's only something like 50 full nodes versus hundreds in other countries.

[rancidgash]

true, but i like to believe that China has never been a big player to begin with. it was all an illusion that Chinese are big and vastly effective on bitcoin price.
but reality was that when you offer zero fee trades without any taxation or regulation, you obviously get a huge volume. that never meant more traders in China.
and i certainly never heard of any real adoption over there such as any real shops accepting bitcoin!

it might have been nothing other than smoke and mirrors, but that control was real while it lasted. the rest of the world always followed the fake volume exchanges.

and yes, other than mining bitcoin is non existent in china. there's only something like 50 full nodes versus hundreds in other countries.

Still, Chinese mines are a big part of the power. If China banned Bitcoin the only thing they had to do was move the mines to Russia - there Putin would take them with open arms

[ivrynx]

China had already said before, when it was just banning its exchanges,is that they wanted to regulate cryptocurrenciesin their country, however i think what china didn't took note is that bitcoin is global, it is not just focused on one country alone, though they have a lot of bitcoin userscit doesn't mean that thry own bitcoin. I think they should consider lifting the ban on bitcoin now and not just for he exchanges, it seems that exchane companies, doesn't like the new way, that is getting a license to operate, because if they do, china will be back on track, and be competing with japan's 11 exchanges. I think china should really consider liftin the ban on bitcoin, since they now found out, with or without them, bitcoin still lives on, they might as well join.

[Pab]

Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.


HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence

https://www.youtube.com/watch?v=RWz1EHN8Nds

I think that we should stop talking about China.The bitcoin community is more independent from Chinese exchange platforms and miners than never before and this is something good.
Regulation and domination from the chinese government and the PBOC aren`t something good and i don`t care if there`s a difference between more regulations and a direct ban.They are both bad for the cryptocurrency users in China.

Yes all that talks about China is boring.Bitcoin is not dependent on China anymore
But not blame China,imagine how to manage country with over 1 bln people,country what became global power very fast.Any country has his own circumctences,westerness usually like to teach others how thay have to live,but if we look westerness economys than thay may learn  lot from China
Chinise are pragmatic business what is brinking incomes to his people,but thay dont want his people lost money on crypto buble

[Wind_FURY]

OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire.

That's what Chinese wants that's why they regulate those exchange but they will fail unto this since bitcoins is the main crypto by majority of the people specially with chinese guys there.

No, it is not what the Chinese Bitcoiners and altcoiners want. It is what the Chinese government wants because they want to control and regulate everything. There is nothing exciting about a "digital Yuan".

And Chinese government will realize it as soon as they will see that no one grabbing there coin and threat this as just another altcoin build.

It is not a "coin" made to compete with cryptocurrencies. Its a "coin" made to complement paper money.

[Immakillya]

Bitcoin exchanges there i think is not banned there. The government just stopped their operations as they are planning to regulate exchanges there. It's just FUDs make things worst. Manipulators used the issue and deceived people by spreading some bad news about bitcoin. But look how fast bitcoin recovers. It's so fast. And i believe China does not have the power over bitcoin anymore. Japan now is the biggest and the influential country when it terms to cryptocurrencies. They are very friendly to bitcoin that's why the bitcoin progress there is amazing. Japan now also will focus on mining. They are now gonna take over the place to China from being the biggest mining in the world. Taiwan also now taking a big steps to cryptocurrency and so as South Korea.

[Seansky]

Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.


HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence

https://www.youtube.com/watch?v=RWz1EHN8Nds

If they only intend to regulate crypto in their country then that is good. Now it seems that the FUD has been cleared out. The exchanges ban that is expected in China seems to be a fake news. Maybe because it was already cleared out, bitcoin right now is consolidating at a good price and I feel bad for those who dumped their bitcoins just because of the recent FUD. For now I am quite curious with their digital yuan hoping it would be better than tether.

[Visbay]

From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose.
The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that!

Absolutely you are right and I think may be china see other countries like japan and Australia that they accept bitcoin and some European countries have a debit cards of bitcoin so maybe they realize that they did a mistake and now they change their mind but I have many of my friends from china they were using bitcoin secretly and now I think they will be free to use it easily.

[rancidgash]

From the beginning it was known that the confusion with the Chinese exchanges was triggered for some purpose.
The Chinese government may try to limit society but they will never be able to limit the decentralized currency. The communists hands are to short to do that!

Absolutely you are right and I think may be china see other countries like japan and Australia that they accept bitcoin and some European countries have a debit cards of bitcoin so maybe they realize that they did a mistake and now they change their mind but I have many of my friends from china they were using bitcoin secretly and now I think they will be free to use it easily.

In my opinion it was just kind of strange game to confuse/scare investors to gain something.. I don't know why they did it and what they want gain, but in my opinion it doesn't work out, and now they are trying to fix that.. Probably they already undestand, that they can not stop Bitcoin

[Unplugged]

Well, all I can say is let's see what will really be happening soon as far as the ban in China for ICOs and Bitcoin exchanges can be concerned. Certainly, if they are really planning that way then China is always welcome to be back to the cryptocurrency bandwagon as we know that China remains a big and important market. Let's hope that this is just another fake news or just another bad speculation without basis.

I really agree with you OP. I hope this is not just some blatant troll or a fake news just to give us confusion and unwanted speculation. I strongly believe that China might comeback later in the future and if they do comeback the price would totally skyrocket.

[ivrynx]

I think the Chinese would really just want to have a regulation first, before they bring back Bitcoin and allow exchanges again, since the population of China is huge and there are a lot of Bitcoin users, I think they are just protecting their people from possible scammers, since today's age, it is no surprise that some will fall in the traps of scam sites and scam ICOs, probably that's one of the reasons why they wanted to shutdown their exchanges first, to avoid confusion among the public, since it is easy to create a website that will get you investing, thinking that it will double in hours. We should just allow the Chinese to do what they think will protect them and always validate news, since a lot had happened after China had shutdown it's ICOs, hopefully they will find  a way on how they could regulate it in their country, since it will be their loss if they didn't.