China bans exchangers / China exchangers CLOSED

[aoluain]

The price already started to decrease since BTCC announcement. I believe we will be better off the Chinese exchanges and the market manipulations in long term but for now, I expect the price to decrease further and more exchanges (Huobi and OkCoin) will follow that decision.

Bitfinex must be next. They are like a cancer with their fake volumes and tether with their fake usd being used to pump BTC.

Could we actually be on the verge of a positive move by China to ban
shady exchanges? and in the process help the crypto community
and in turn affect the price of Bitcoin in a positive way when the panic
fades and all those realise that actually China is not going to ban ALL
their exchanges and no China is NOT going to ban Bitcoin.

[MAbtc]

The price already started to decrease since BTCC announcement. I believe we will be better off the Chinese exchanges and the market manipulations in long term but for now, I expect the price to decrease further and more exchanges (Huobi and OkCoin) will follow that decision.

Bitfinex must be next. They are like a cancer with their fake volumes and tether with their fake usd being used to pump BTC.

Why? I mean, I expect Bitfinex to be the next exchange to be shut down by the US Government (for an assortment of reasons -- unregistered securities, unlicensed MSB, money laundering conspiracy). But not the Chinese government. Even if they were still organized primarily in Hong Kong, I'm not sure that the PBOC ban would apply there. They tweeted this earlier today regarding their status as a British Virgin Islands company:

Bitfinex is owned & operated by iFinex Inc., a BVI company. As such, it is not subject to the recent PBOC ban.

[Sate Jamu]

If thet use full bot exchanger system is certainly better banned, this will bring a better impact even though the impact is bitcoin prices continue to fall. I expect the price to go back up.

[mayax]

another one is closing, viabtc.com.

https://www.viabtc.com/announcement/detail?id=11


All the chinese exchangers will be closed.

so, where are the morons(shills) who said that this is a FAKE news?

[bitcoinisbest]

another one is closing, viabtc.com.

https://www.viabtc.com/announcement/detail?id=11

so, where are the morons(shills) who said that this is a FAKE news?

Its not a at all a fake news. This is true that all the exchanges slowly will shut down. Now there is a fear in our country too as government was on the verge to legalize probably the bitcoin but after China stand this seems bitcoin will have a hard time and so do our country. This will further fall the price and may be btc may go down to 2k mark.

[aoluain]

Here is some panic stopping news via twitter.
It is clear that China is looking to implement
some form of licensing for exchanges in order to
cut out the scamming etc.

It looks like legitimate exchanges will be able to apply
for a license and as they will be trading above board
a license should be obtainable.

https://twitter.com/TradingWhaIe/status/908607956010389506

[mayax]

here are the news :

“All” Chinese virtual currency exchanges must stop trading to remain compliant, regulators have announced.      

https://cointelegraph.com/news/breaking-all-chinese-bitcoin-exchanges-must-close-by-september-30  

the plague is starting to be cured. BTC-e and all the chinese exchangers are removed.

Now, Bitfinex must be taken down(and they will soon) and all the unlicensed exchangers.

[DoublerHunter]

Thanks for the news from China and it enables us to buy bitcoin for a lower and cheaper rate and i hope that in the next month, we will see a great gain in the bitcoin market because this banning and some sort of bad news is more like a strategy for the whales in china to buy bitcoin at a lower rate and manipulate the market.

[ropyu1978]

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

if they (china) temporarily close. will likely reopen. I am more surprised and think differently.
is there a deliberate unser they do?

until crypto weakens and drops to the lowest level.

this rumor is so strong, and like going on a scenario.

[mayax]

another news:

OKCOIN and HUOBI will close their business


https://www.coindesk.com/huobi-okcoin-stop-yuan-bitcoin-trading-octobers-end/

[Carlsen]

another news:

OKCOIN and HUOBI will close their business


https://www.coindesk.com/huobi-okcoin-stop-yuan-bitcoin-trading-octobers-end/

Am I reading it wrong?
It only says that exchanges between Yuan and cryptocurrencies will be affected.
Everything else can be traded at the exchanges.
If the exchange would be shut down completely, bitcoin price would go down.
But the price went up!

[RamBahadur.Gurung]

another news:

OKCOIN and HUOBI will close their business


https://www.coindesk.com/huobi-okcoin-stop-yuan-bitcoin-trading-octobers-end/

It is quite confusing. I heard that the closure is a temporary one, until they could reach on a compromise with the authorities. But some mainstream media sources are claiming that this is a permanent closure.

[MAbtc]

another news:

OKCOIN and HUOBI will close their business

https://www.coindesk.com/huobi-okcoin-stop-yuan-bitcoin-trading-octobers-end/

Am I reading it wrong?
It only says that exchanges between Yuan and cryptocurrencies will be affected.
Everything else can be traded at the exchanges.
If the exchange would be shut down completely, bitcoin price would go down.
But the price went up!

Okcoin and Huobi have announced that that they will stop CNY-to-cryptocurrency trading services on Oct 31st. Most announcements regard fiat trading. But it doesn't matter. The damage is done: CNY deposits are disabled. There can be no money coming into the exchanges until they are properly licensed. That could be months away.

The price went up because 1) technical support at $3000 area and weekly 20MA, and 2) the exchange closures had already largely been priced in by then. Now that we have an interim bottom in place, the question is, are we in a longer term bear market now?

[newguy05]

The current news regarding okcoin and huobii is frustrated. They will anounce their closing this weekend and end of this month after they stop trading I guess we will see lower levels on bitcoin

[leopard2]

Two possibilities

a) in the future BTC in China are traded in shady corners for cash, they way crypto should be traded in the first place

b) China re-opens exchanges, after "licensing" them and after the Chinese government has accumulated enough cheap coins (they do buy BTC, I have no doubt, they probably act as a """liquidity provider"""  , just like Uncle Sam did, when outlawing gold in 1933)

[mayax]

all the chinese exchangers have HUGE fake volumes. they deserve to be closed.

[Mbah Djoko]

I'm sure this will not have a big impact, bitcoin users in china certainly easily shift their business to neighboring countries like Hongkong or Taiwan, and surely this does not become a storm.

[roccstar]

I'm sure this will not have a big impact, bitcoin users in china certainly easily shift their business to neighboring countries like Hongkong or Taiwan, and surely this does not become a storm.

yeah you are right, it wont affect the Chinese people. Offcourse for few days the price of bitcoin will fall till Chinese people find another exchange for trading their coins outside China. After that in my opinion bitcoin's price will surge and that will be sudden.

[jackhero]

i think The Chinese do so for sellers to sell btc then bump again...guys don't wory...btc will
increase again

[blockchainmarketus]

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

This is good news.  We have to find ways to get the dirty Chinese out of Bitcoin.  They love to ruin everything.

Yup, I agree clean bitcoin from dirty business, I think Chinese should do better after this. Should do the right thing. Hope many exchangers outside China will not get effect by closing them