Why such a crash in China?

[Peter1984]

https://bitcoinwisdom.com/markets/okcoin/btccny

Alt coins also dropped.

[1714877755]

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[1714877755]

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[1714877755]

1714877755

[TheQuin]

This:
The end of the virtual currency exchange era https://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Ffinance.caixin.com%2F2017-09-08%2F101142797.html&edit-text=

China to ban currency exchanges.

[cryptocan]

I didn't think Chinese care that much about the government ban, usually they do the opposite thing than what the government tell them to do !

[Tezcalitpoka]

We should BANN China, enough, fc** manipulators..

[TheKubizz]

Most of ppl in China who cares about crypto will find a way around it. It's more of a rumor what is pushing coins down. Just wait and we will be back on track.

[Iwuzhaxxed]

We should BANN China, enough, fc** manipulators..

I love these manipulations. Get off the train now then get back on later. profit.

[KingCanute]

What is this bullshit Caixin article that is dated 2 weeks into the future??? (September 20 2017 written on byline)

[bamboylee]

Too much FUD on china. This will be resolve soon and the price will go back to normal or back to going to the moon. Everything drops when there is bad news coming from china, but it always bounce back.

[carlisle1]

so this is one one the big factors why we are shaken again and its really annoying every time bitcoin tried to make a move bad news always occurred,
I think china whales are really enjoying playing with the market then for sure another bounce back will happen, just carefully watch the movements.

[AdolfinWolf]

Too much FUD on china. This will be resolve soon and the price will go back to normal or back to going to the moon. Everything drops when there is bad news coming from china, but it always bounce back.

You can keep saying this until it doesn't, which, with how fast things are changing now, ( new laws, bills, regulations), won't be that long.

%% That China is going to ban all forms of cryptocurrency / cryptocurrency trading is becoming bigger and bigger everyday, They're a somewhat "communist" country afterall.

The Chinese government wants complete control over it. Once they find out they don't, & they also won't, surely something big will happen.

This whole ICO banning is just the start, or did you think that this would seriously be it? Because they haven't accomplished anything really with that ban.


I'm very afraid of the future of crypto in China.

[danherbias07]

We should BANN China, enough, fc** manipulators..

Nice  . Had a good laugh.
The recent ban in the ICO is really a smack to the face. They think they are the only country controlling the world of crypto. After all this the prices of altcoins and bitcoin will go back and they wont matter anymore. I guess some of their countrymen now are on their planes and going to other countries.
If you have a lot of coins and can live with it will you still stay?

[Eega726]

It's due to some fake news ... http://www.allcryptocurrencies.news/bitcoin/bitcoin-crash-of-8-september-due-to-fake-chinese-news/

[Bowtiesarecool]

It's due to some fake news ... http://www.allcryptocurrencies.news/bitcoin/bitcoin-crash-of-8-september-due-to-fake-chinese-news/

Someone should start an ICO to curb this fake news business

[go4crypto]

Most top coins have already bounced back nicely after the initial panic reaction to this news.
This should be the end of this latest crypto correction that started last weekend on China ICO ban FUD.

[Stgsurya]

In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.

[nadrojcote]

In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.

This is most likely one persons interpretation of china's law that crypto currencies are not allowed to be used as a currency. They're only to be used as a commodity meaning you cannot purchase items or services with them like you can in other countries. Lots of people took this as you cannot purchase currencies with money.

Some sites were saying that some chinese exchanges were already stopping the purchasing of cryptos, but not the sales. Which makes no sense, if they were going to ban one they would ban both.

[barota]

https://np.reddit.com/r/BitcoinMarkets/comments/6ysgiy/daily_discussion_friday_september_08_2017/dmqa5sz/

the news of China is not yet spreaded

[parepare]

In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.

That is the main reason why we need decentralized exchanges. All those bans and regulations can suck balls then.

[Huonghoang1939]

This September is probably the hottest topic is the article on China. When a country has huge hoard of BTC, then it always master the game.
 Not only has the BTC that ICO or Altcoin, has been controlled by China.  I hope someday Russia or America will master the game of BTC. There are too many disadvantages when China holds an asset volume too large BTC.

[Koontas]

It seems that China wants some cheap coins again, same procedure as always.

And according to cnLedger they have asked representatives from OKCoin and Huobi and they have not received any notice and they're operating normally.

[mrjoy15]

It's not problem of china. It's problem with other people who start panic sell. It's just manipulation. So far, China only banned some selected ICOs - no $Crypto ban or exchanges shutdown.

[erre]

It's not problem of china. It's problem with other people who start panic sell. It's just manipulation. So far, China only banned some selected ICOs - no $Crypto ban or exchanges shutdown.

They banned all crypto exchangers. I wonder If Chinese miners would give a fuck about it, bitcoin wouldn't for sure but hiding a big mining operation could be hard

[mnemonicsoup]

It's not problem of china. It's problem with other people who start panic sell. It's just manipulation. So far, China only banned some selected ICOs - no $Crypto ban or exchanges shutdown.

They banned all crypto exchangers. I wonder If Chinese miners would give a fuck about it, bitcoin wouldn't for sure but hiding a big mining operation could be hard

They didn't actually ban them, it's just fake news that they will be banned: http://www.allcryptocurrencies.news/bitcoin/bitcoin-crash-of-8-september-due-to-fake-chinese-news/

[Barbarian]

Too much FUD on china. This will be resolve soon and the price will go back to normal or back to going to the moon. Everything drops when there is bad news coming from china, but it always bounce back.

You can keep saying this until it doesn't, which, with how fast things are changing now, ( new laws, bills, regulations), won't be that long.

%% That China is going to ban all forms of cryptocurrency / cryptocurrency trading is becoming bigger and bigger everyday, They're a somewhat "communist" country afterall.

The Chinese government wants complete control over it. Once they find out they don't, & they also won't, surely something big will happen.

This whole ICO banning is just the start, or did you think that this would seriously be it? Because they haven't accomplished anything really with that ban.


I'm very afraid of the future of crypto in China.

This is going to slow down crypto , no doubt, but for those that really want to invest they are going to find a way even if that means violating their laws, this is no different than when the US banned gold and many did not obeyed the law and kept holding their gold.

[grizmoblust]

any reason for this crash ? I think people has stop panic sell because the news china ban ICO is old

[Irvinn]

It seems that deliberately exaggerated and twisted information about the -oby in China, related to the crypto currency. Now you do not need to make any decisions and wait for reliable information. There is a game to lower the rate of Crypto-currency to buy them cheap. We must not give in to panic.

[btcdiggingmaster]

It seems that China wants some cheap coins again, same procedure as always.

And according to cnLedger they have asked representatives from OKCoin and Huobi and they have not received any notice and they're operating normally.

Instead of Banning ICO's and Exchanges in China, why don't they ban directly Bitcoin? Because they have a large number of Bitcoins with them and they want to rule the world and want secure their economic growth instead of losing their currency value.

[erre]

China banned the Ico's, and someone spreaded some FUD about the government is going to ban all exchangers. Even if they will try to do it, bitcoin won't give a fuck just like the honey badger

[REorEVOLUTION]

because fud and herd mentality
BTFD

[arpon11]

https://bitcoinwisdom.com/markets/okcoin/btccny

Alt coins also dropped.

A banned on the cryptocurrency exchangers platforms in China should outrightly affect altcoins and there price should dropped as people may  think of losing their investment on them. Though we later had that the news of ban is a fake one but we can feel the impact of that news.

[friends1980]

Yup. I read somewhere that the ICO ban was probably only temporary. Sorry forgot to copy the source. But with Chinese gouvernment, you're never sure...

Luckily they're a great democracy.

https://www.youtube.com/watch?v=c1HdCIW2Xtk

[Hawker]

There is a lot of news from China about this incident, but there is nothing confirmed. The Chinese government is doing something according, and it defends itself with ridiculous reasons.

The important thing is that this is a terrible situation for the cryptocurrency market. Nearly all coins in the markets have gone down between 10 and 60 percent. The investor who invests in Altcoin looks very bad.

Gell is the Chinese government!

[alyssa85]

In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.

This is most likely one persons interpretation of china's law that crypto currencies are not allowed to be used as a currency. They're only to be used as a commodity meaning you cannot purchase items or services with them like you can in other countries. Lots of people took this as you cannot purchase currencies with money.

Some sites were saying that some chinese exchanges were already stopping the purchasing of cryptos, but not the sales. Which makes no sense, if they were going to ban one they would ban both.

The thing about China is it's an autocracy, not a democracy. Citizens have no come-back if they don't like stuff, it's not like they can throw the Communists out of govt.

That's why they panic at this type of news. It may or may not be FUD - but one day it will be real, and the Chinese who don't panic and sell will have all their stuff swiped by their govt.

The rest of the world will just carry on of course.

[pey]

Because china simply ban ico instead of regulating it and can do the same thing on other things like trading etc. It's very difficult for chinese people to hold their coins now. Just think about that if the same thing happens in your country, what would you do?

[Flash86]

When I am remember correctly, there was similiar rumors some months ago but nothing happens.
The only reason to spread some fake news is to buy more cheap BTC.

[bucciarati]

probably is the same old fake news regarding china moves to block / destroy / control crypto world. since china is a very big player every news (real or fake) is going to shake a lot of week hands. maybe someone is trying to manipulate the maret in order to buy chip

but you can see by yourself, the market is srong enough to mitigate this events

[Boov]

https://bitcoinwisdom.com/markets/okcoin/btccny

Alt coins also dropped.

All coins are in the red days! When that happens and post all over the internet about banning icos mostly of the coins go down because i think of the holders that is chinese that is selling their crypto because it is implemented with that. Though in icos that is also a big problem because some of their contributors are chineses and could lead to low collected of bitcoin or eth.

[yunuzov]

Chinese government made an unnecessary decision and banned ICOs that effected the markets in a bad way but this is not the end of the world. Some coins are already back in the place they were before the ban and others will be there soon too. Crypto world is now too big to get in it's way. They can only try to slow it down but they surely can't stop it.

[JeffBrad12]

Chinese government made an unnecessary decision and banned ICOs that effected the markets in a bad way but this is not the end of the world. Some coins are already back in the place they were before the ban and others will be there soon too. Crypto world is now too big to get in it's way. They can only try to slow it down but they surely can't stop it.

Pretty much the china government want to regulate the whole cryptocurrency so that it'll getting out of their control and will prevent these cryptocurrency to affect their economic.
as proven before, the ban which was released by china only temporary, and then proceed to release further regulation to many ICOs and now they're repeating the same thing. do you think it'll doom the crypto world, definitely not.

[HatakeKakashi]

I dont know why china ban exchanges site . I hope it will be back again and do you think they have possible that china will back and unban currency exchanges site? I think also why bitcoin decreased today because of that and bitcoin down at 4300 dollars and also the altcoin. But dont worry and for sure bitcoin and altcoins will recover again and it will increase more. Lets support crypto currency.

[SenSeiSoKo]

Maybe they will change this decision, maybe they will not. But there are few other markets at the moment, we will see what will happen. The ICO ban is already known worldwide. no big deal. 

[Mr.Scott]

Because of fake news, we have heard Chaina exchange being banned. Thus, I believe that Bitcoin is bigger than China, if they don't want to join in, they can be left behind.

[AdolfinWolf]

Too much FUD on china. This will be resolve soon and the price will go back to normal or back to going to the moon. Everything drops when there is bad news coming from china, but it always bounce back.

You can keep saying this until it doesn't, which, with how fast things are changing now, ( new laws, bills, regulations), won't be that long.

%% That China is going to ban all forms of cryptocurrency / cryptocurrency trading is becoming bigger and bigger everyday, They're a somewhat "communist" country afterall.

The Chinese government wants complete control over it. Once they find out they don't, & they also won't, surely something big will happen.

This whole ICO banning is just the start, or did you think that this would seriously be it? Because they haven't accomplished anything really with that ban.


I'm very afraid of the future of crypto in China.

This is going to slow down crypto , no doubt, but for those that really want to invest they are going to find a way even if that means violating their laws, this is no different than when the US banned gold and many did not obeyed the law and kept holding their gold.

Surely there will always be some people which will just continue trading, but the general public won't risk being thrown in prison for speculating a couple G's on crypto, which means that crypto is never going to become ""Mainstream ""Mainstream"" As VISA or PayPal is right now, which is, in my opinion, a shame.

[Gangy]

Chinese economy is one of the world's best and they want to stay it the way it is. They are aiming to control the world economy so they are trying to control the crypto world as well. That's why they banned the ICOs. Tho it's still not a big deal for crypto world. We will surely survive this.

[HODL to the moon]

China is really tricky, they tend to fun a lot and then buy in in masses while it is cheap. As long as crypto isn't forbidden there, the party keeps going on!

[grizmoblust]

China is really tricky, they tend to fun a lot and then buy in in masses while it is cheap. As long as crypto isn't forbidden there, the party keeps going on!

I think this crash is true not panic sell. because China want block some exchange on their country

[PokerFace3]

It's not problem of china. It's problem with other people who start panic sell. It's just manipulation. So far, China only banned some selected ICOs - no $Crypto ban or exchanges shutdown.

Dude, I wanna share my problem with you now. I am very much done with these discussions. I really don't get why people are mixing banning of ICO with the end of crypto world. Chinese government took this step because it was essential for the safety of its local economy, it has not banned crypto coins and it never will.

[AleSergio]

China is really tricky, they tend to fun a lot and then buy in in masses while it is cheap. As long as crypto isn't forbidden there, the party keeps going on!

I think this crash is true not panic sell. because China want block some exchange on their country

It is panic sell also, because a lot of newbies see a red price and think that everything is ruined But yeah i think on the other side it is also true because chinese investors maybe are trying to be safe a little bit, but when all this speculations will be over, price will recover and everything would be fine.

[IceOleg]

Even if the news is actually a true, than China is doing exactly what is has to do - trying to regulate the market and close unreliable ICO's and exchanges.
The guys who are pushing these news stories with no actual proofs - are just manipulating the market, making newbies to panic sell, good and classic move!
Long term investors don't really care too much and see this as a good chance to buy some cheap coins.

[nhote]

now apparently official:
https://cointelegraph.com/news/china-ban-on-ico-is-temporary-licensing-to-be-introduced-official

[anelenaniku]

Period, it time to buy more BTC and Alt Coins. Some other country will support ICOs and the prices will rice again. China can't ban anything, it just help people buy cheap.

[cryptocan]

china have done it so many times, I cant understand why do we fall for it every time ?!

[berrygood]

Scaring... Thank god I am not chinese. I would probably dump all my coins. Real news, fuds, speculation and more... I am happy not to have a lot of coins now.

[Drowzy]

china have done it so many times, I cant understand why do we fall for it every time ?!

That's right. China manipulates the markets all the time. This is no different. After they have bought enough BTC or whatever they are after then we will hear about regulations and everything okay... until the next time Chinese officials want to make bank.

[nikisev]

What we see is emotional sale. Everybody think that its going down so its better to get off and get on later when market hits the bottom. Cryptocurrency volatility is awesome. If you are long term investor it does not matter. If you are daily trader - its paradise. Its only bad for you if you not sure what are you doing, so you just do what others do.Nothing really changes - buy low and sale high, and this time nobody will stop trade on the floor at 17:30 or when index goes 15% under.Technology is not compromised, its clearly solves some of the worst problems of finance world. Cryptocurrency is here for a long time.

[Snaic]

There is no collapse with respect to crypto currency in China. According to official statements from China, measures are being introduced to clear ICO of possible fraud and protection of investors' rights. There are indeed problems in this area. As for the ban on trade in crypto currency, it is probably related to the ICO and when solving this problem, the restrictions will be lifted.

[ansi]

This is what i call Fundamentals of the crypto wold haha
Major BAD news that destroy the market to the ground for some. I'm dead sure that many lost alot according to this.

Remember another thing guys, this crypto world is made to be decentralized, so sooner or later the crpto world will win for sure. it's just adapting with the bad conditions & laws, be patient & don't panic, hold your bad & everything will be alright.

[klixion]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

[Barbarian]

In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.

That is the main reason why we need decentralized exchanges. All those bans and regulations can suck balls then.

A decentralized exchange is needed more than ever, there are a few but some users that have use them says that is not exactly the same, the first decentralized exchange that can deliver is going to become extremely powerful and their owners very rich.

[MiBambino]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

[shursight]

They are trying to spread more fud in order to make bitcoin go down. Obviously there is going to be a war between cryptocurrencies and bank, that is going to happen for sure, and i think that this war has just beggined, maybe we can see all governemnts/banks trying to shut down all the cryptocurrencies that are on the market, but obviously that it would be better if it doesnt happen, of course.

[speaktome]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

Yeah,and maybe others just took advantage selling in such a situation,and trying to buy back at lower prices.

[Barbarian]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

Then a ban is what is going to happen next, they are not going to be able to regulate it, that is impossible and their citizens that still want to use bitcoin will need to hide their tracks of the tyranny of their government or just get out of China and do their business someplace else.

[MiBambino]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

Then a ban is what is going to happen next, they are not going to be able to regulate it, that is impossible and their citizens that still want to use bitcoin will need to hide their tracks of the tyranny of their government or just get out of China and do their business someplace else.

It's actually quite easy. They can track fiat currency, so any time a deposit on their bank account is done from an exchange, they can tax that

[YellowRiver]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

Then a ban is what is going to happen next, they are not going to be able to regulate it, that is impossible and their citizens that still want to use bitcoin will need to hide their tracks of the tyranny of their government or just get out of China and do their business someplace else.

It's actually quite easy. They can track fiat currency, so any time a deposit on their bank account is done from an exchange, they can tax that

If you people ask me, I think China is not really breaking out a war against digital currencies. Sooner or later, they will be back in this business. Moreover, China has not banned out everything related to crypto coins. I am sure still majority of the users would be still dealing in bitcoins and altcoins. Also, we must not forget about the past show presented by Chinese government.

[devollito]

Ban for ico token. Goverment ask the refund. And in this moth at 30 september china goverment intruction is to closed all crypto exchange company. But now okcoin and btcc moved to outside china. And also there are so many decentralized exchange china goverment will lift the ban. Maybe q1 2018 we will see..

[Rastadon]

Ban for ico token. Goverment ask the refund. And in this moth at 30 september china goverment intruction is to closed all crypto exchange company. But now okcoin and btcc moved to outside china. And also there are so many decentralized exchange china goverment will lift the ban. Maybe q1 2018 we will see..

My thought that all of them will try to move into another country or over seas to seek the chance to build the new exchange sites again in the friendly countries that will be available to run such exchange site without got an prohibited by the goverment,

[RedX]

Ban for ico token. Goverment ask the refund. And in this moth at 30 september china goverment intruction is to closed all crypto exchange company. But now okcoin and btcc moved to outside china. And also there are so many decentralized exchange china goverment will lift the ban. Maybe q1 2018 we will see..

My thought that all of them will try to move into another country or over seas to seek the chance to build the new exchange sites again in the friendly countries that will be available to run such exchange site without got an prohibited by the goverment,

That just mean that China does not represent it's people. There are many Chinese that are still going to continue to support btc and altcoins and it's just a matter of time until China will embrace cryptocurrencies wholeheartedly again.

[madwica]

Ban for ico token. Goverment ask the refund. And in this moth at 30 september china goverment intruction is to closed all crypto exchange company. But now okcoin and btcc moved to outside china. And also there are so many decentralized exchange china goverment will lift the ban. Maybe q1 2018 we will see..

China will not banned ICOs, they only closed some exchange who are doing illegal transaction but they do not banned bitcoin in their country, we all know that china is one of the biggest distributor of bitcoin even huge part of bitcoin investment, their government are trying to stop all the crypto exchange who are not following on their law. and we feel all of that because the value of bitcoin was decreasing due to small volume of demand.

[Barbarian]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

Then a ban is what is going to happen next, they are not going to be able to regulate it, that is impossible and their citizens that still want to use bitcoin will need to hide their tracks of the tyranny of their government or just get out of China and do their business someplace else.

It's actually quite easy. They can track fiat currency, so any time a deposit on their bank account is done from an exchange, they can tax that

And what about peer to peer trading, what are they going to do if person A wants to sell to person B and they exchange cash that leaves no record, and if they decide to use banks accounts they could always say the deposit came not from a bitcoin transaction but for services rendered.

[Nerman]

I just read in the news that now they are not banning ICO but they would regulate it, which for me actually makes sense. With that we can avoid some scams. I know we will sacrifice a little freedom but at least it will be a little safer. If it did not stop scammers from China at least it will be lessen. If you want anonymous coins we have already established coins (example monero) that you could buy.

[MiBambino]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

Then a ban is what is going to happen next, they are not going to be able to regulate it, that is impossible and their citizens that still want to use bitcoin will need to hide their tracks of the tyranny of their government or just get out of China and do their business someplace else.

It's actually quite easy. They can track fiat currency, so any time a deposit on their bank account is done from an exchange, they can tax that

And what about peer to peer trading, what are they going to do if person A wants to sell to person B and they exchange cash that leaves no record, and if they decide to use banks accounts they could always say the deposit came not from a bitcoin transaction but for services rendered.

Well there's ofcourse always ways around it, just like with cash money. The government knows it can't tax, track and control everything, so they just want to make sure to get everything they can

[reymarkperry]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

Then a ban is what is going to happen next, they are not going to be able to regulate it, that is impossible and their citizens that still want to use bitcoin will need to hide their tracks of the tyranny of their government or just get out of China and do their business someplace else.

It's actually quite easy. They can track fiat currency, so any time a deposit on their bank account is done from an exchange, they can tax that

And what about peer to peer trading, what are they going to do if person A wants to sell to person B and they exchange cash that leaves no record, and if they decide to use banks accounts they could always say the deposit came not from a bitcoin transaction but for services rendered.

Well there's ofcourse always ways around it, just like with cash money. The government knows it can't tax, track and control everything, so they just want to make sure to get everything they can

Still dont know how they can control bitcoin. I mean bitcoin or altcoin is very hard to track.

[MiBambino]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

true, but prices can definitely stay low for months at a time. All the chinese want is to control cryptos, to be able to tax and track them. When they can't do that, they'll ban it until they figure out a way to profit from them. That's most likely whats happening now

Then a ban is what is going to happen next, they are not going to be able to regulate it, that is impossible and their citizens that still want to use bitcoin will need to hide their tracks of the tyranny of their government or just get out of China and do their business someplace else.

It's actually quite easy. They can track fiat currency, so any time a deposit on their bank account is done from an exchange, they can tax that

And what about peer to peer trading, what are they going to do if person A wants to sell to person B and they exchange cash that leaves no record, and if they decide to use banks accounts they could always say the deposit came not from a bitcoin transaction but for services rendered.

Well there's ofcourse always ways around it, just like with cash money. The government knows it can't tax, track and control everything, so they just want to make sure to get everything they can

Still dont know how they can control bitcoin. I mean bitcoin or altcoin is very hard to track.

Fiat is easy to track, and new investors need to make a first payment in fiat before they can trade.

[bitcoinisbest]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

Yeah,and maybe others just took advantage selling in such a situation,and trying to buy back at lower prices.

Such a scenario when one of the big players react to bitcoin certainly there would be tumble in the market. For instance if Japan tomorrow announces something negative about bitcoin , btc will definitely be taking a dip by 5 - 10% around. This is natural and bound to happen and people sometimes do sell and then buy back again at low which is also right thing to do sometimes.

[richjohn]

People are just overreacting to the stuff coming out from China.  No one country controls or owns Bitcoins.  It just takes one node to keep the blockchain moving.  Bitcoins can not die. 

Yeah,and maybe others just took advantage selling in such a situation,and trying to buy back at lower prices.

Such a scenario when one of the big players react to bitcoin certainly there would be tumble in the market. For instance if Japan tomorrow announces something negative about bitcoin , btc will definitely be taking a dip by 5 - 10% around. This is natural and bound to happen and people sometimes do sell and then buy back again at low which is also right thing to do sometimes.

There are plenty of panic sellers in the market. Any negative news has the potential as for now to bring a drop in the crypto market when the size of market is still small. China was a major player and was quite dominant in the market and a sudden ban from such country always gonna have some impact. But at the end Bitcoin or altcoins is not about one one country and market will ultimately recover in long run.