China bans exchangers / China exchangers CLOSED

[chocolah29]

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.

But the fuds impacted the price recently.
But knowing bitcoin, surely it can get through this like even the segwit2x didn't affect that much the price.
Well China will close the exchange to give way to their own exchange.

[henmark]

Big thing what will happen now btc price will become zero , demand for btc gone, mining power over idk how many of you have been affiliated with btc all these same exact things have happened 2 years ico didn't exist but exchange ban did happen in form of notice and price had fallen but we still see the exchanges running even after 2 years of such a incident.
All this temporary it won't have any effect on btc in the long term.

If we take a deep look in the past incidents, this banning of exchanges is not a new thing. Bitcoin has already survived through such situations and the present number of users is far greater than the past one. I have same opinion in this regard so it is best to not panic.

[endlasuresh]

Big thing what will happen now btc price will become zero , demand for btc gone, mining power over idk how many of you have been affiliated with btc all these same exact things have happened 2 years ico didn't exist but exchange ban did happen in form of notice and price had fallen but we still see the exchanges running even after 2 years of such a incident.
All this temporary it won't have any effect on btc in the long term.

If we take a deep look in the past incidents, this banning of exchanges is not a new thing. Bitcoin has already survived through such situations and the present number of users is far greater than the past one. I have same opinion in this regard so it is best to not panic.

I agree with you this line as the users has been became huge to invest in Bitcoins and still it is growing everyday. China banned, but not to the people as they may start using somewhere. No one wants to live poorer on the earth as everybody seems to make money.

[Cindy1983]

As I know, almost exchanger in China is changing from ".cn" to ".com" to get out of their government control. Maybe it's reason for Bitcoin price rising back today . I'm a little bit sad because I don't have any money left to buy more Bitcoin when it's only 2960$ or 3200$ per Bitcoin

[darewaller]

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.

Hmm…$2,000? Really great, I will be waiting, cause that will be a good rate to start buying. I’m not even bothered that China banned bitcoin exchangers, it won’t do much I believe. Let them move out so that other countries can have a chance to carry on with it.

[rudox]

Hope it will be temporary.

[marky89]

Hope it will be temporary.

It's definitely temporary. Even the ICO ban is temporary according to some officials. They are introducing licensing, not outlawing trading. As I understand it, it's order book exchanges dealing in CNY that are specifically prohibited (by laws that are already on the books), meaning that OTC trading might still be okay.

In fact, OTC trading better be okay -- otherwise, I don't know how miners can offload their rewards to cover their overhead costs. My feeling from the statement from NIFA: Mining, OTC trading, and exchange crypto-to-crypto trading are fine.

What makes me nervous: Bruce Fenton and Charlie Lee keep going on about how the Chinese exchanges may have been running a fractional reserve.

As I know, almost exchanger in China is changing from ".cn" to ".com" to get out of their government control.

OKEX announced that they are not subject to the ban. I haven't seen anything from Okcoin.com, so you're probably right in that regard. But Okcoin and Huobi both already have international sites, so I'm not sure how much difference it makes.

[mayax]

Hope it will be temporary.

It's definitely temporary. Even the ICO ban is temporary according to some officials. They are introducing licensing, not outlawing trading. As I understand it, it's order book exchanges dealing in CNY that are specifically prohibited (by laws that are already on the books), meaning that OTC trading might still be okay.

In fact, OTC trading better be okay -- otherwise, I don't know how miners can offload their rewards to cover their overhead costs. My feeling from the statement from NIFA: Mining, OTC trading, and exchange crypto-to-crypto trading are fine.

What makes me nervous: Bruce Fenton and Charlie Lee keep going on about how the Chinese exchanges may have been running a fractional reserve.

As I know, almost exchanger in China is changing from ".cn" to ".com" to get out of their government control.

OKEX announced that they are not subject to the ban. I haven't seen anything from Okcoin.com, so you're probably right in that regard. But Okcoin and Huobi both already have international sites, so I'm not sure how much difference it makes.

licences mean a lot of documents, insurance, money and time for approval. the chinesse exchangers are fucked.
even they get a financial license, they will be required to do due diligence, REAL KYC and AML. also, their shit fake volumes will be cut alot because they will have to be audited.

all the exchangers not only those from China must get these licenses. only in this way, the BTC market will be cleaned and the clients will have the peace of the mind that their funds are in safe.

you won't hear about BTC-e shit and many similar others. you won't beg for your funds to be returned and so on... 

[Lieldoryn]

I don't understand what the problem is. China may ban only exchange crypto currency for the yuan. What prevents Chinese people to exchange crypto currency for the dollar. Or China refuses to accept dollars? Lol! I am sure that the Chinese exchangers will work in other jurisdictions. It will not change anything.

[metenjean]

I don't understand what the problem is. China may ban only exchange crypto currency for the yuan. What prevents Chinese people to exchange crypto currency for the dollar. Or China refuses to accept dollars? Lol! I am sure that the Chinese exchangers will work in other jurisdictions. It will not change anything.

Its true it will not change anything, but in the meantime the government keep their monetary policy in check. They keep their own currency controllable, and i think it also another politics from the chinese because although they close the exchanger for yuan, they didnt really close the exchanger for dollar. There is no guarantee that they dont benefit from the price drop and start buying for themselves 

[DoublerHunter]

I don't understand what the problem is. China may ban only exchange crypto currency for the yuan. What prevents Chinese people to exchange crypto currency for the dollar. Or China refuses to accept dollars? Lol! I am sure that the Chinese exchangers will work in other jurisdictions. It will not change anything.

China banned the ICO and not the exchangers so the only thing that the chinese people will worry is about ICO because they can't participate in ICO projects anymore and that is a bad news for them because ICO is one of the best way to make money because the price is easy to pump or dump after they launched in the market.

[mayax]

I don't understand what the problem is. China may ban only exchange crypto currency for the yuan. What prevents Chinese people to exchange crypto currency for the dollar. Or China refuses to accept dollars? Lol! I am sure that the Chinese exchangers will work in other jurisdictions. It will not change anything.

China banned the ICO and not the exchangers so the only thing that the chinese people will worry is about ICO because they can't participate in ICO projects anymore and that is a bad news for them because ICO is one of the best way to make money because the price is easy to pump or dump after they launched in the market.

ICO= the new HYIPs = scam

[virasog]

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

Thank you for stating the obvious. All of us know what China is doing it had nothing to do with the rest of us. We're still making money and we've been doing it ever since. We're going to make money before the ban we're going to make money after the ban we're going to make money during the day. There's nothing that is going to stop our investment raising about you.

[BitcoinPC]

I don't understand what the problem is. China may ban only exchange crypto currency for the yuan. What prevents Chinese people to exchange crypto currency for the dollar. Or China refuses to accept dollars? Lol! I am sure that the Chinese exchangers will work in other jurisdictions. It will not change anything.

China banned the ICO and not the exchangers so the only thing that the chinese people will worry is about ICO because they can't participate in ICO projects anymore and that is a bad news for them because ICO is one of the best way to make money because the price is easy to pump or dump after they launched in the market.

ICO= the new HYIPs = scam

There is only a small percentage of the exchanges that have a small drop at certain hours of the day and that is only because of the scared people in that part of the world. Weaker hand just let go of the btc as they are looking after small profits and also they don't have a heart to stay and take a little bit of risk. If you want to save your hard earn bitcoin, do not sell bitcoin on such times when price is on a decline.

[RayvenPierre]

I see and think that this is a good news for bitcoin. These Chinese marketers have done enough damage to the bitcoin market and it will be the best to get them cleaned. It is a loss for bitcoin but it will be much better if we can remove anything that manipulates bitcoin and this will be better in the long run.

[kenkoy]

This will greatly affect the global market of Cryptocurrency. This may be one of the reason why the BTC value drops these past few days. China has huge number of BTC investors. Some of them are whales so any slight changes on their country affects the global market. If this is a serious decision by the government, it may be big threat to Bitcoin.

[Titanos]

China is just cleaning cryptocurrencies market from scammers. In my opinion it's a healthy thing for crypto world.
Anyway i'm not using any Chinese exchanger.

[aesma]

I don't understand what the problem is. China may ban only exchange crypto currency for the yuan. What prevents Chinese people to exchange crypto currency for the dollar. Or China refuses to accept dollars? Lol! I am sure that the Chinese exchangers will work in other jurisdictions. It will not change anything.

China is a dictatorship. The government can take your money and your life whenever it wants to. So no, the average Chinese citizen can't just change currencies or bank accounts, all this is closely monitored by the government, internet itself being closely monitored and censored too.

[leonix007]

As I know, almost exchanger in China is changing from ".cn" to ".com" to get out of their government control. Maybe it's reason for Bitcoin price rising back today . I'm a little bit sad because I don't have any money left to buy more Bitcoin when it's only 2960$ or 3200$ per Bitcoin

don't be sad, history repeat itself, this is a proven lifecycle of bitcoin, if you made some profit with this event even not that big, be grateful, lessons are learned and to be applied later on, prepare for the next big event.

[wuvdoll]

This will greatly affect the global market of Cryptocurrency. This may be one of the reason why the BTC value drops these past few days. China has huge number of BTC investors. Some of them are whales so any slight changes on their country affects the global market. If this is a serious decision by the government, it may be big threat to Bitcoin.

It already has affected the global crypto market. All crypto coins have suffered through decrease in their values. Many people have even sold out their digital assets. China has done such stunts in the past also. Those people who are old users of crypto coins are well aware of this fact and they are still holding on.