Bitcoin in China

[pinkflower]

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.

Another case of shallow thinking from the posters here. I dont think most of you really understand Bitcoin. In order to effectively ban Bitcoin use you have to also ban the use of the internet. How will the Chinese government do that? If they ban all exchanges from operating then they will use other services like Localbitcoin. If they ban that then they will try some other way to get them. What they plan to do will not stop BTC.

[anonbit992]

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.

China has shown a good support to bitcoin when compared to rest of the world. I think China will be responsible for the vast number of bitcoin transaction in future. It is good for the POBC to regulate bitcoin exchanges so as to prevent manipulation. This will prevent sudden rise and fall of bitcoin due to manipulation  and will gradually contribute to the growth and traction of bitcoin.

[hurain]

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.

yes that is a fact, that Chines are the big support of bitcoin and will continue using bitcoin and will contribute more. i think we should be a little realistic, as we speak that bitcoin is decentralized universal currency, so every one has the right to buy any amount of bitcoin that he can purchase, either they are chines or Russian or American all have the right to purchase and use bitcoin according to his own wishes.

[Vaccinus]

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.

China has shown a good support to bitcoin when compared to rest of the world. I think China will be responsible for the vast number of bitcoin transaction in future. It is good for the POBC to regulate bitcoin exchanges so as to prevent manipulation. This will prevent sudden rise and fall of bitcoin due to manipulation  and will gradually contribute to the growth and traction of bitcoin.

this is bad because if china in the futre will ban bitcoin or other catastrophe, it can afflict bitcoin greatly and make it lose a good value, bitcoin should not be centralized, not only mining but market activity and transaction, china should already strat to build their farm in other profitable country, instead of focusing on China territory alone

[BitcoinPanther]

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.

China has shown a good support to bitcoin when compared to rest of the world. I think China will be responsible for the vast number of bitcoin transaction in future. It is good for the POBC to regulate bitcoin exchanges so as to prevent manipulation. This will prevent sudden rise and fall of bitcoin due to manipulation  and will gradually contribute to the growth and traction of bitcoin.

this is bad because if china in the futre will ban bitcoin or other catastrophe, it can afflict bitcoin greatly and make it lose a good value, bitcoin should not be centralized, not only mining but market activity and transaction, china should already strat to build their farm in other profitable country, instead of focusing on China territory alone

As said by Amph earlier,

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

And I agree to his analysis, difficulty will decrease dramatically and mining will be easy. And if price goes down due to panic sell of most of the Chinese holders, people from around the world would gladly pick them up making the Bitcoin price go up again.

[Vivace92]

Can not indisputable that bitcoin is indeed remarkable in china, trading extremely high volumes, bitcoin reasonable only china is controlling bitcoin impact for the world.

[bryant.coleman]

Can not indisputable that bitcoin is indeed remarkable in china, trading extremely high volumes, bitcoin reasonable only china is controlling bitcoin impact for the world.

I don't think that the real volume of Bitcoin transactions is higher in China than that in the United States. It is extremely difficult to get accurate trading data from China. Some of the exchanges refuse to reveal the data, and some others publish fake data by inflating the volume and the number of trades. Also, are you including Hong Kong and Macau in China?

[pinkflower]

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.

China has shown a good support to bitcoin when compared to rest of the world. I think China will be responsible for the vast number of bitcoin transaction in future. It is good for the POBC to regulate bitcoin exchanges so as to prevent manipulation. This will prevent sudden rise and fall of bitcoin due to manipulation  and will gradually contribute to the growth and traction of bitcoin.

So you think China will be the largest buyers of drugs in the darknet markets, contributing to BTC's growth? Are you sure about that? Before you spew out brain farts, stop and take a deep breath before you post. China's trading volume will start to dwindle after the PBOC starting to keep an eye on BTC exchanges in their country.

[deisik]

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.

China has shown a good support to bitcoin when compared to rest of the world. I think China will be responsible for the vast number of bitcoin transaction in future. It is good for the POBC to regulate bitcoin exchanges so as to prevent manipulation. This will prevent sudden rise and fall of bitcoin due to manipulation  and will gradually contribute to the growth and traction of bitcoin.

So you think China will be the largest buyers of drugs in the darknet markets, contributing to BTC's growth? Are you sure about that? Before you spew out brain farts, stop and take a deep breath before you post. China's trading volume will start to dwindle after the PBOC starting to keeping an eye on BTC exchanges in their country

We see that after the PBOC intervention the price seems to have stabilized (sort of frozen)

While it is certainly not very encouraging for die-hard short-term traders which are volatility hungry, for the rest of the humanity it can only be welcomed since the price moves in a relatively narrow range today, and it still keeps well above pre-December levels at that (~750 dollars per coin). I wouldn't make any assumptions as to where the price might go in the near future, since I guess we should wait some time (say, a month) to see how real is support at current levels. In other words, we may still go lower to sub-800 levels

[soul-impact]

Can not indisputable that bitcoin is indeed remarkable in china, trading extremely high volumes, bitcoin reasonable only china is controlling bitcoin impact for the world.

I don't think that the real volume of Bitcoin transactions is higher in China than that in the United States. It is extremely difficult to get accurate trading data from China. Some of the exchanges refuse to reveal the data, and some others publish fake data by inflating the volume and the number of trades. Also, are you including Hong Kong and Macau in China?

well, I think the volume of Bitcoin transactions in China is higher than most of the other parts of the world since there are many Bitcoin located there. Investors spend lots of money in order to obtain as many Bitcoin as they can and the number of bitcoin traders in China is also high.

Yes, Hong Kong belongs to the China although the Hong Kong people always protest to against the Chinese government. I do not have any idea about Macau, because it have been a long time since I have heard the last news about it

[pinkflower]

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.

China has shown a good support to bitcoin when compared to rest of the world. I think China will be responsible for the vast number of bitcoin transaction in future. It is good for the POBC to regulate bitcoin exchanges so as to prevent manipulation. This will prevent sudden rise and fall of bitcoin due to manipulation  and will gradually contribute to the growth and traction of bitcoin.

So you think China will be the largest buyers of drugs in the darknet markets, contributing to BTC's growth? Are you sure about that? Before you spew out brain farts, stop and take a deep breath before you post. China's trading volume will start to dwindle after the PBOC starting to keeping an eye on BTC exchanges in their country

We see that after the PBOC intervention the price seems to have stabilized (sort of frozen)

While it is certainly not very encouraging for die-hard short-term traders which are volatility hungry, for the rest of the humanity it can only be welcomed since the price moves in a relatively narrow range today, and it still keeps well above pre-December levels at that (~750 dollars per coin). I wouldn't make any assumptions as to where the price might go in the near future, since I guess we should wait some time (say, a month) to see how real is support at current levels. In other words, we may still go lower to sub-800 levels

We are not talking about the price. The price is no problem even if its going down. We all know that BTC has a very long term trend going up. The problem is the volume. Coindesk has released and article this week that the dwindling volume should be a cause for worry. How true that is, I dont know. According to the article some Chinese BTC traders have shifted to trading stocks after the PBOC investigation.

[deisik]

We see that after the PBOC intervention the price seems to have stabilized (sort of frozen)

While it is certainly not very encouraging for die-hard short-term traders which are volatility hungry, for the rest of the humanity it can only be welcomed since the price moves in a relatively narrow range today, and it still keeps well above pre-December levels at that (~750 dollars per coin). I wouldn't make any assumptions as to where the price might go in the near future, since I guess we should wait some time (say, a month) to see how real is support at current levels. In other words, we may still go lower to sub-800 levels

We are not talking about the price. The price is no problem even if its going down. We all know that BTC has a very long term trend going up. The problem is the volume. Coindesk has released and article this week that the dwindling volume should be a cause for worry. How true that is, I dont know. According to the article some Chinese BTC traders have shifted to trading stocks after the PBOC investigation.

That seems to be quite consonant with my own apprehensions

I don't know if the Chinese traders did actually switch to trading stocks (or whatever), but if the former volume that we saw at Chinese exchanges wasn't fake (or was only partially fake) and it went heavily down nowadays, we could well expect the price to go further down as well. On the other hand, how the price cannot be a problem if its basically the product of volume? With less volume, the price will certainly go down since it just can't rise consistently on a thin market (it's volatility that could only increase)

[pinkflower]

Im not very worried about the price because thinner volumes also mean the price can go up just as easy as it can go down. Plus there will be other exchanges that will offer 0% fees to fill the demand the Chinese exchanges has created.

[qiwoman2]

China I very much doubt will ban bitcoin, yes regulate the exchanges to avoid too much money flowing out of the country and money laundering, I agree with that. I think fear mongering around the world often affects the price, but a fact checker is the best way to evaluate things.

[szpalata]

Im not very worried about the price because thinner volumes also mean the price can go up just as easy as it can go down. Plus there will be other exchanges that will offer 0% fees to fill the demand the Chinese exchanges has created.

I agree with you brother but let's not even consider the possibility of Bitcoin getting banned because it can't happen, if they do then they must as well ban the usage of the Internet. The only significant impact could be banning the exchanges or taking them offline but even with that they can reinvent themselves and come back again we already have localbitcoin among others.

[seven.71]

Im not very worried about the price because thinner volumes also mean the price can go up just as easy as it can go down. Plus there will be other exchanges that will offer 0% fees to fill the demand the Chinese exchanges has created.

I agree with you brother but let's not even consider the possibility of Bitcoin getting banned because it can't happen, if they do then they must as well ban the usage of the Internet. The only significant impact could be banning the exchanges or taking them offline but even with that they can reinvent themselves and come back again we already have localbitcoin among others.

I think now the market china is no longer able to affect the price of bitcoin or manipulate the price of bitcoin because since in intervention by government authorities china, plus now charged fee leveraged that causes the volume in the market of china like Huobi, bttChina, OKcoin very small far behind the market Poloniex now

[deisik]

Im not very worried about the price because thinner volumes also mean the price can go up just as easy as it can go down. Plus there will be other exchanges that will offer 0% fees to fill the demand the Chinese exchanges has created

This is obviously a wrong assumption

When markets are becoming thin, that means less trading volume but less trading volume just reflects traders losing interest to this market. I don't really know how the latter can contribute to higher prices in any conceivable way. As a matter of fact, thinning of a market typically precedes inevitable price collapse in the nearest future, though the price can remain at its current levels for some time. It just becomes more "fragile", in a sense, and a small push may make it crash heavily

[pinkflower]

Im not very worried about the price because thinner volumes also mean the price can go up just as easy as it can go down. Plus there will be other exchanges that will offer 0% fees to fill the demand the Chinese exchanges has created

This is obviously a wrong assumption

When markets are becoming thin, that means less trading volume but less trading volume just reflects traders losing interest to this market. I don't really know how the latter can contribute to higher prices in any conceivable way. As a matter of fact, thinning of a market typically precedes inevitable price collapse in the nearest future, though the price can remain at its current levels for some time. It just becomes more "fragile", in a sense, and a small push may make it crash heavily

I get it. But do you actually believe that when the price of BTC rushes upwards is a product of it being fundamentally sound? I believe that the markets are manipulated. BTC markets especially because the exchanges operate outside the law. When prices start to fall it will not be in the best interest of the miners and the merchants and maybe a few big investors. So now a small push can also make it rise heavily.

[cryp24x]

Im not very worried about the price because thinner volumes also mean the price can go up just as easy as it can go down. Plus there will be other exchanges that will offer 0% fees to fill the demand the Chinese exchanges has created

This is obviously a wrong assumption

When markets are becoming thin, that means less trading volume but less trading volume just reflects traders losing interest to this market. I don't really know how the latter can contribute to higher prices in any conceivable way. As a matter of fact, thinning of a market typically precedes inevitable price collapse in the nearest future, though the price can remain at its current levels for some time. It just becomes more "fragile", in a sense, and a small push may make it crash heavily

I get it. But do you actually believe that when the price of BTC rushes upwards is a product of it being fundamentally sound? I believe that the markets are manipulated. BTC markets especially because the exchanges operate outside the law. When prices start to fall it will not be in the best interest of the miners and the merchants and maybe a few big investors. So now a small push can also make it rise heavily.

Well aren't we used to it?  Market had been manipulated ever since.  In every stocks there is some whales that dictates how the price go.  If this whale lose interest you can see the market going down until some whales pick it up and play with it.  As for the price yes a think sell wall can push the price to rise heavily but it can also go down heavily too since buy support is also thin.

[ASHLIUSZ]

Im not very worried about the price because thinner volumes also mean the price can go up just as easy as it can go down. Plus there will be other exchanges that will offer 0% fees to fill the demand the Chinese exchanges has created

This is obviously a wrong assumption

When markets are becoming thin, that means less trading volume but less trading volume just reflects traders losing interest to this market. I don't really know how the latter can contribute to higher prices in any conceivable way. As a matter of fact, thinning of a market typically precedes inevitable price collapse in the nearest future, though the price can remain at its current levels for some time. It just becomes more "fragile", in a sense, and a small push may make it crash heavily

I get it. But do you actually believe that when the price of BTC rushes upwards is a product of it being fundamentally sound? I believe that the markets are manipulated. BTC markets especially because the exchanges operate outside the law. When prices start to fall it will not be in the best interest of the miners and the merchants and maybe a few big investors. So now a small push can also make it rise heavily.

Well aren't we used to it?  Market had been manipulated ever since.  In every stocks there is some whales that dictates how the price go.  If this whale lose interest you can see the market going down until some whales pick it up and play with it.  As for the price yes a think sell wall can push the price to rise heavily but it can also go down heavily too since buy support is also thin.

Yeah, we users were used to it, as the market variation happens based upon the China miners as well the people who are the base for such a growth. Now we cannot expect a push forward than small fluctuations as the users as well miners keep hold of the bitcoins expecting a huge price increase by the mid year.