Bitcoin in China

[pooya87]

There are just parts of China to which bitcoin is banned and also facebook. There is an area to where you could do it. Well maybe that is just coating something that they are hiding but why is that there are a lot of Chinese company which is connected to bitcoin? Those are questionable, if they know it is banned in their country why still do it right?

unless you are Chinese yourself and speaking from experience about banning in some parts, then you are wrong about it. because bitcoin is not banned in any part of China for people to buy, hold, trade it.

and also can you name a couple of those "a lot of Chinese company" here because the only businesses we know of are mining farms and exchanges and not much else compared to the rest of the world!

[Kray]

I dont think china will ban bitcoin, even they ban bitcoin it just their goverment not their people. They people still use bitcoin

[CyberKuro]

I know this is going to be an older topic to many of you, but I've been quite busy lately!  After Bitcoin skyrocketed up to the 1,100 USD mark recently, then was knocked down significantly after chatter of China's government (not shocking) was considering making Bitcoin illegal. From what I have found China has not actually banned Bitcoin yet, but with China banning things such as Facebook..this is worrisome to me.  I don't think there is even an argument to be had that if they do ban it, that Bitcoin will take a major blow.  If that happens, a large short term or long term worry? 

If bitcoin will going to be ban on China, it's consider as big problem as people there hold largest number than any other countries.
It will take years to recover again as bitcoin in circulation need more time to spread. As you said there's no an argument to ban bitcoin in China, hopefully it won't ever happen.

[pinkflower]

Interests in Japan, India, and some parts of Europe might support the current trend if something bad happens in China.

Do you think the interest in India and the others you mentioned as strong as the support in China? I dont think so. The price could fall back to 700 or something but there is nothing to fear really. In the whole history of Bitcoin it has not showed that it will die anytime soon.

[Amph]

if china will ban it they will ban the mining activity too, which mean that the diff will decrease dramatically, and miners will have an easy time making profit for a long time

you can't simply replenish 70'% of the network in a short time, the price i think it will not tank so much, because panic buyers will be all over the price when the value will tank

Panic buyers did not manage to keep the price up when the price started tanking to 200 after the last rally.

If there is real blood on the street, those buyers will rather be panic sellers. Smart money will still buy though.

that was bound to happen anyway, the price went directly to 1200 without any real consolidation, it's not comparable with today increase

not to mention that if we are again near that value it means that more people bought at the same price than before, which is equal to a more solid value than before

it's very unlikely that bitcoin will return to 200 now, this will be more true the more people buy at these current high levels

[staceyoh]

We all know that china
is the country that bitcoin
is widely accepted.So I hope
China will not ban bitcoin.

[pinkpanther03]

I know this is going to be an older topic to many of you, but I've been quite busy lately!  After Bitcoin skyrocketed up to the 1,100 USD mark recently, then was knocked down significantly after chatter of China's government (not shocking) was considering making Bitcoin illegal. From what I have found China has not actually banned Bitcoin yet, but with China banning things such as Facebook..this is worrisome to me.  I don't think there is even an argument to be had that if they do ban it, that Bitcoin will take a major blow.  If that happens, a large short term or long term worry? 

Most of the individuals community in bitcoin world knows that China owned the biggest users in the world. Even most of people here have negative feedback in it. But even is like that there is good thing I saw that we need to adopt for what china did to their fellow citizens, they educate there communities little by little about in bitcoin. Because government itself became open minded in the concept of bitcoin, I wish other country will become same as China did.

[Alicia Keys]

I dont think china will ban bitcoin, even they ban bitcoin it just their goverment not their people. They people still use bitcoin

The question is banning bitcoin is unrealistic, cut the network? Format every bitcoiner's wallet.dat? They can still use brain wallet to fight a ban. So kill one's life? I don't think so, it is modern society, not 100 years ago.

[hdtqisg]

china have more people used bitcoin. so so it is a major influence on prices and dominated by the Lunar New Year

[Doms]

The Chinese are among the biggest traders of bitcoin. They do their trading 24/7 with help of super computers. All these talk about China being worried about the yuan devaluation because of bitcoin is I think all rubbish. The market cap of bitcoin is really, really small compared to the overall Chinese economy.

[pinkflower]

The Chinese are among the biggest traders of bitcoin. They do their trading 24/7 with help of super computers. All these talk about China being worried about the yuan devaluation because of bitcoin is I think all rubbish. The market cap of bitcoin is really, really small compared to the overall Chinese economy.

Super computers? Really? Ive never heard of that before. Where did you hear this and can you post your proof. I know some of the Chinese traders use trading bots to automate their trades but theres no mention of super computers. I mean this is only trading not rocket science.

[layoutph]

hi OP what do you mean, everything has been planned? Theres no banning of Bitcoin? Do you think China has the power to manipulate the value of Bitcoin? By the way anyone knows the percentage of chinese people bitcoin users from all circulating Bitcoin currency?

[BitcoinHodler]

The Chinese are among the biggest traders of bitcoin. They do their trading 24/7 with help of super computers. All these talk about China being worried about the yuan devaluation because of bitcoin is I think all rubbish. The market cap of bitcoin is really, really small compared to the overall Chinese economy.

Super computers? Really? Ive never heard of that before. Where did you hear this and can you post your proof. I know some of the Chinese traders use trading bots to automate their trades but theres no mention of super computers. I mean this is only trading not rocket science.

you will get used to hearing things as strange as this one. pay a visit to speculation board and you will see all kinds of crazy things they say about Chinese that after a while what you imagine of Chinese people is a gigantic person sitting on top of a mountain of cash with at least a dozen super computer in their home having a red button and green button. when they press red everything dies and when they press green they become billionaires

[pinkflower]

Hehehe yeah I have read a lot of retarded comments and very little sensible ones. I tend to avoid the speculation threads and never mind the altcoins threads. The posters there do nothing but troll and FUD a lot and sometimes they do reverse trolling something of which I think was invented here.

[boybugs18]

I dont think they will ban Bitcoin in China as many people are using it and also those individual hacker using bitcoin to have some personal stuff to buy. Many businessman will go bankrupt if they do that because there are many big mining facilities there they will just watch where those money are going and they would not allow their money to go outside China.

[deisik]

The Chinese are among the biggest traders of bitcoin. They do their trading 24/7 with help of super computers. All these talk about China being worried about the yuan devaluation because of bitcoin is I think all rubbish. The market cap of bitcoin is really, really small compared to the overall Chinese economy.

Are you the same guy who claimed that if he had an infinite computational power he would be able to outtrade everybody on the planet? Computers can help you quickly analyze the profits (and risks) arising, for example, from an arbitrage opportunity, but you don't need a supercomputer for that. Basically, a typical calculator would quite suffice provided you know what you are doing

Other than that, they are pretty useless if you aim at using them for predicting price



Their "predictions" would be even less valuable than weather forecasts (where supercomputers are really employed)

[BitcoinPC]

I dont think china will ban bitcoin, even they ban bitcoin it just their goverment not their people. They people still use bitcoin

Who knows bitcoin get bans in china or not. As a recent development, the Chinese bitcoins exchanges has started fee on bitcoin exchanges which has effected bitcoin fake volumes. Maybe this is the first step from making people go away from bitcoins in china. We never know.

[Przemax]

I was actually afraid that all those rises while China markets are in decline would result in a mega retaliation from the pboc. Its great that they reacted so fast. The scale of the retaliation is significantly smaller that way.

Btw. Does anyone knows why bitcoinwisdom has placed okcoin in place of huobi? Im not informed.

[thephill97]

I dont think china will ban bitcoin, even they ban bitcoin it just their goverment not their people. They people still use bitcoin

Bitcoin will never die nowhere man , china is the Power of Asia.

[Bitcoin0916]

I dont think china will ban bitcoin, even they ban bitcoin it just their goverment not their people. They people still use bitcoin

Bitcoin will never die nowhere man , china is the Power of Asia.

Yeah right, China is an Asian power even of the world, it is no longer the world economy will be controlled by china. As the owner and handler bitcoin, surely use bitcoin in china is enormous. The Chinese Government has not been legalized bitcoin but not reduce the enthusiasm of Chinese citizens to use and save money at the bitcoin, so long as the Chinese users there is no problem, bitcoin will either is fine.