Why such a crash in China?

[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.