mayax (OP)
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September 08, 2017, 04:45:18 PM Last edit: September 15, 2017, 09:32:49 AM by mayax |
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it seems that all the chinese exchangers will be closed for a while. it's a normal decision because they made so many illegalities (willy bot, market manipulation and so on). http://m.finance.caixin.com/m/2017-09-08/101142797.htmlThat means Okcoin, BTC china, Huobi and many others will be closed. "the plague" begins to be cleaned ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Caixin was the first one to report on the ICO ban before the official documents came out so, they should be credible
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Pearls Before Swine
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September 08, 2017, 05:05:01 PM |
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That's fine by me, for two reasons. One, I don't live in China, nor do I use Chinese exchanges. And two, those are some of shady businesses known to man. They should be illegal and I'm not sorry China is cracking down on them. I won't call myself pro government by any means, but the exchanges need some regulation. This paves the way for that.
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kotajikikox
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★Bitvest.io★ Play Plinko or Invest!
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September 08, 2017, 05:16:18 PM |
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but sir someone post here in forum china allow again the ICO, the china government regulate the ICO to protect the investor because of the illegalities as you said, from now i will wait the clearfying the about the issue, and i believe for bitcoin the show must go on.
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OmegaStarScream
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September 08, 2017, 05:19:38 PM |
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Definitely a good decision even If the price is starting to get some damage a little bit. We want decentralization, Chinese controlling exchanges with high trading volume and mining farms is not going to help.
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mayax (OP)
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September 08, 2017, 05:23:18 PM |
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Definitely a good decision even If the price is starting to get some damage a little bit. We want decentralization, Chinese controlling exchanges with high trading volume and mining farms is not going to help.
high trading volume = fake volumes by using the willy bot
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bitorama
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September 08, 2017, 05:24:06 PM |
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it doesn't matter, bitcoin is decentralized
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bitcoinisbest
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September 08, 2017, 05:32:40 PM |
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If China decides to ban the exchanges may not be seen as a good sign for bitcoin. Definitely bitcoin is going to tank in coming days because first China banned ICO, not exchanges and than may be bitcoin too with some laws in place. Many developing countries are watching bitcoin and the world especially China because they are the leaders and majority is being traded their. This decision may hamper the country to rethink if they want to legalize the bitcoin per say or change their decision may also be effected due to this move.
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geac.xraekhurcoe
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September 08, 2017, 06:01:41 PM |
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This will help boost the decentralization of exchanges, an exchange which cannot be regulated, without a single point for the government to act.
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Reid
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September 08, 2017, 06:06:09 PM |
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Thank God some good changes will happen. Good thing they started cleaning on their country rather than speculating others. They have the largest mining services and many of those are not legit. This will be a big change and instead of a fall in price the bitcoin might go up if this news will be spread accordingly. I mean no addition etc etc. It is just shocking there is no soft ban. They go straight to the point and diminish it. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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marky89
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September 08, 2017, 06:20:37 PM |
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it seems that all the chinese exchangers will be closed for a while. it's a normal decision because they made so many illegalities (willy bot, market manipulation and so on). http://m.finance.caixin.com/m/2017-09-08/101142797.htmlThat means Okcoin, BTC china, Huobi and many others will be closed. "the plague" begins to be cleaned ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Caixin was the first one to report on the ICO ban before the official documents came out so, they should be credible I would take this with a grain of salt for now. If this were true, OKCoin, Huobi, etc. would have halted trading. Trading is still live on Chinese exchanges right now, like any other day. cnLedger, the most reputable Chinese source I know, says there is no confirmation of the Caixin story, and that they confirmed with the major exchanges that they received no such notice to shut down. See: https://mobile.twitter.com/cnLedger/status/906195967908601856OKCoin confirms business as usual: https://mobile.twitter.com/cnLedger/status/906197219560136705
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flag39
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September 08, 2017, 06:23:09 PM |
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Chinese Government bans the exchanges in China(for what I read above could be a good thing) but they can not ban Chinese people to use exchanges in other countries. Could they?
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squatter
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STOP SNITCHIN'
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September 08, 2017, 06:35:13 PM |
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it doesn't matter, bitcoin is decentralized
I don't even think the news is accurate. No one can confirm the story. I reached out to a Chinese friend on WeChat and he said this is classic FUD; he's trading on OKCoin as we speak. This is just like the "China bans Bitcoin" episodes of 2013/2014. This time around, the Chinese exchanges have less influence on the market.
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SONG GEET
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September 08, 2017, 06:45:31 PM |
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Chinese Government bans the exchanges in China(for what I read above could be a good thing) but they can not ban Chinese people to use exchanges in other countries. Could they?
They can't but how those chinese will be able to withdraw out fiat from those exchange to their bitcoin wallet if their government will strictly restrict the use of bitcoin trading platform. however this looks like just another assumption rather than a real news. Wait for official announcement...
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EllaPonchik
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Dream of the Great
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September 08, 2017, 06:46:54 PM |
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The Chinese are very smart, have accumulated bitcoins and now can do anything with the market.
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SakamHost
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September 08, 2017, 06:47:13 PM |
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I dont see why peoples like the china ban? So you guys want the price to go back to 10$ ? And no one to use bitcoin? The price should go higher and higher not downer and downer, many peoples love this because they can profit like buy for low then sell for high but what if btc go down and dont come back to up? Their money will be just lost.
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mobnepal
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September 08, 2017, 06:56:40 PM Last edit: September 08, 2017, 07:08:29 PM by mobnepal |
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This doesn't make any sense at all why chinese government need to shut down trading platform that are serving well and all of them are licensed trading platform.
Also it is quite hard to actually understand the given article even after using google translation, translated version looks broken.
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eaLiTy
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September 08, 2017, 07:19:08 PM |
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it seems that all the chinese exchangers will be closed for a while. it's a normal decision because they made so many illegalities (willy bot, market manipulation and so on). ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) What is the difference between a Chinese exchange and the rest of the exchanges,i am sure they all are running the same way and what makes you think that only illegal funds will be moved through those exchanges and not from the rest,the news has created a huge dip in the market but i really hopes that it will recover at a later time,does it say that it is just a temporary shut down.
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HongKong
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September 08, 2017, 07:27:34 PM |
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The Chinese are very smart, have accumulated bitcoins and now can do anything with the market.
That’s kind of the right way to put it though that doesn’t necessarily apply to everyone in China. There’s people living in China that want to have Bitcoin though they can’t and there’s some people in that area that want to purchase something that will make them money (not knowing that Bitcoin is a route to make them some nice amount of cash). Bitcoin is being bought from the major people in China that want more Bitcoins in their wallets so they could dominate the market when the price of Bitcoin gets expensive. I am pretty sure that we haven’t seen anything yet.
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exstasie
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September 08, 2017, 08:02:23 PM |
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FUD!
It's definitely FUD, and it was perfectly executed. Everyone is in a panic, and it makes sense to a lot of people given the recent action against ICOs. But think about it! That was an official action. In this case, we have absolutely nothing but unsubstantiated rumors. When the PBOC wants to say something, they say it. Other news sources can't confirm any of the rumors. Here's what Samson Mow had to say: Read the article about shutdown of exchanges in #China. They have no sources at all. It's just conjecture.
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