CHINA!!!

[Soranith]

Its for sure affecting the market of crypto but I don't see it dying without China and I think Chinese will always find ways to be involve in crypto. I don't have any worries at all and bitcoin now is slowly recovering from the FUD.

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[sheryl26]

How the fate of cryptocurrency in your opinion after china forbids cryptocurrency?

Will this be the end of cryptocurrency

For me there is no need to worry, yes cryptocurrency being banned in china is a big deal because of the huge deflation of the value. But we know chinese they can make ways to access the bitcoins no matter what happens. It is a big business out there and they will not let that take away from them that easily. Besides after the fall last week we can now noticed that the value of bitcoins are slowly gling back to it natural value or maybe even more, what do we know. Just trust bitcoins and they will recover for this fall.

[SavvyOli]

i trust bitcoins, but currently all my money is in NEO. sigh pie.

[maku]

How the fate of cryptocurrency in your opinion after china forbids cryptocurrency?
Will this be the end of cryptocurrency

1. The Chinese government is a paranoid control freak, so to speak. Officials are scared to death that cryptocurrency may become a new mainstream way of transferring money.
Transfering digital tokens is a great way to avoid any kind of tax and high external fees, this is not something Chinese government will allow.
2. They don't want to ban cryptocurrency per se. They want to find a way to curb it. That is why they killed ICO and yuan to BTC trading.
3. China didn't ban crypto to crypto trading - and as soon as they will realize that it is far better to keep cryptocurrency around (after crypto services will be taxed) yuan to BTC trading will be back.

[adam1230]

This situation is really interesting. seems chinese people using bitcoin for transfering Yuan to outside of china.
So bitcoin is not falling under 3k$ this will cause the bitcoin price to go over 5k$

[illyiller]

This situation is really interesting. seems chinese people using bitcoin for transfering Yuan to outside of china.
So bitcoin is not falling under 3k$ this will cause the bitcoin price to go over 5k$

Compared to the shadow banking industry, Bitcoin is tiny, if you consider market capitalization. BTC isn't widely used right now for capital flight. However, I think the Chinese government sees the writing on the wall. If demand continues like this and the price of BTC continues to skyrocket, then it will be used increasingly for capital flight. The bigger the market cap, the more money that can be easily moved (and with less friction, because it's BTC vs. the banking system).

It's hard to say what the Chinese government will do in the end. But it seems like they want to discourage the average law-abiding citizen from using cryptcurrencies, because they know how useful they will be for capital outflow in the future.

[konco_kenthel]

May not be the last because there are many other countries that can make new ico with allocation funds issued are also large enough that can be used for bitcoiner in getting income.

[Mett33]

The latest news from China really confirm the Chinese government's ability to prohibit its citizens from accessing the crypto currency in this country. Of course, this information is extremely bad. Until that time, China had been loyal to the crypto currency and its last announced intentions in this area were to settle the ICO and make the cryptovplat operation in its country transparent. Such intentions have already been called draconian and the Chinese government is being sharply criticized by the community. In contrast to China, Japan, on the contrary, takes measures to legitimize the activities of crypto-exchange exchanges. So, one of the largest crypto-currency exchanges in Japan - Coincheck said that it received a license from the Treasury Department and the Financial Services Agency to conduct currency trading as a virtual currency exchange. This approach can serve as a model for other states.

Same have exchange Bitstamp which is first fully licensed bitcoin, ripple, litecoin and eth exchange in the EU.

I think was first crypto exchange which get any of that kind license.

[Lieldoryn]

This situation is really interesting. seems chinese people using bitcoin for transfering Yuan to outside of china.
So bitcoin is not falling under 3k$ this will cause the bitcoin price to go over 5k$

Compared to the shadow banking industry, Bitcoin is tiny, if you consider market capitalization. BTC isn't widely used right now for capital flight. However, I think the Chinese government sees the writing on the wall. If demand continues like this and the price of BTC continues to skyrocket, then it will be used increasingly for capital flight. The bigger the market cap, the more money that can be easily moved (and with less friction, because it's BTC vs. the banking system).

It's hard to say what the Chinese government will do in the end. But it seems like they want to discourage the average law-abiding citizen from using cryptcurrencies, because they know how useful they will be for capital outflow in the future.

Wait. This is only the beginning. Bitcoin is a threat in the first place for the dollar. I am sure that the Americans will also act as the Chinese. Crypto currency is a mechanism which could undermine the existing economic system. If people understand this they will be able to dictate terms to the government. If people in the first place will be the income we will lose.

[kyvo]

without china crypto currency still up up  to the moon 

[Tomohisa]

They will have to open and operate their exchange in somewhere else, out of China. A legal loophole for Chinese investor and exchange from PRC control.

[bitkanu]

The latest news from China really confirm the Chinese government's ability to prohibit its citizens from accessing the crypto currency in this country. Of course, this information is extremely bad. Until that time, China had been loyal to the crypto currency and its last announced intentions in this area were to settle the ICO and make the cryptovplat operation in its country transparent. Such intentions have already been called draconian and the Chinese government is being sharply criticized by the community. In contrast to China, Japan, on the contrary, takes measures to legitimize the activities of crypto-exchange exchanges. So, one of the largest crypto-currency exchanges in Japan - Coincheck said that it received a license from the Treasury Department and the Financial Services Agency to conduct currency trading as a virtual currency exchange. This approach can serve as a model for other states.

Same have exchange Bitstamp which is first fully licensed bitcoin, ripple, litecoin and eth exchange in the EU.

I think was first crypto exchange which get any of that kind license.

That was a good place to trade for the chinese, but i've heard btc e alreayd alive again and that can be a good news one of the major exchange site already live. I consider btc-e is the number one of the bitcoin exchange in the past.

[wayaneka]

China not ban crypto but only ICO. The impact is only a decrease in some coin but this is only temporary, crypto market will return to normal again even without China.

[RonMank]

The best thing would be if china ban/regulate ICOs and also regulate Exchanges and cryptocurency generally.

No more "China bans Bitcoin" News.