China bans exchangers / China exchangers CLOSED

[mayax]

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.html

That means Okcoin, BTC china, Huobi and many others will be closed. "the plague" begins to be cleaned

Caixin was the first one to report on the ICO ban before the official documents came out so, they should be credible

[Pearls Before Swine]

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.

[kotajikikox]

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.html

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.

[OmegaStarScream]

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.

[mayax]

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

[bitorama]

it doesn't matter, bitcoin is decentralized

[bitcoinisbest]

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.

[geac.xraekhurcoe]

This will help boost the decentralization of exchanges, an exchange which cannot be regulated, without a single point for the government to act.

[Reid]

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. 

[marky89]

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.html

That means Okcoin, BTC china, Huobi and many others will be closed. "the plague" begins to be cleaned

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/906195967908601856
OKCoin confirms business as usual: https://mobile.twitter.com/cnLedger/status/906197219560136705

[ibuddy122505]

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.html

That means Okcoin, BTC china, Huobi and many others will be closed. "the plague" begins to be cleaned

Caixin was the first one to report on the ICO ban before the official documents came out so, they should be credible

Probably a good thing. They are coming down hard on bullshit exchanges and bullshit ICOS's. To my understanding china is putting a tax on their Bitcoin and Ethreum traders as well. But, Bitcoin is decentralized, and will always be king.

[flag39]

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?

[squatter]

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.

[SONG GEET]

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...

[EllaPonchik]

The Chinese are very smart, have accumulated bitcoins and now can do anything with the market.

[SakamHost]

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.

[mobnepal]

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.

[eaLiTy]

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).  

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.

[HongKong]

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.

[vincentvincent]

FUD!