Why such a crash in China?

[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.

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[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.