russelluk (OP)
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September 09, 2017, 06:35:52 AM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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exstasie
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September 09, 2017, 06:47:28 AM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
Why not? Rome wasn't built in a day. And eventually, uncertainty always gives way to certainty. I suspect that the Chinese government is trying to get a handle on AML/KYC and capital outflows as the value of cryptocurrency skyrockets. They may even have intended to shock the market, knowing that it would deter investment and capital outflows. In reality, China has less and less influence on Bitcoin every day. With Japan regulating cryptocurrency, we are seeing major publicly-listed companies enter the ASIC manufacturing sector. There are talks of this in Russia as well. As Bitcoin goes mainstream, its decentralized nature is such that any one authority/country has less potential influence as time goes on. |
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Yakamoto
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September 09, 2017, 06:54:48 AM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
If you want an honest opinion, I'd be glad to not have to hear about China every few days. It just gets all so tiresome and there's rarely anything new to come out of it, most of the time it is the same content or people whining about something here or there which really just gets boring after a while. Not hearing about China every 2 or 3 days in my 3 years of being here would be a nice mixup from the normal chain of events. Hell, I'd take hearing about Japan or S.K. every few days than having to hear about China in the same timespan. |
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fetishboang
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September 09, 2017, 06:57:18 AM |
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its better if china gets out of bitcoin because their government is so unstable and very corrupt they can do whatever they want..people in china cant even criticize their government cause the official will put them in jail.
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Jaycee99
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September 09, 2017, 10:44:08 AM |
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Its not that I am against China I am just thinking that if lesser the people join this website bitcointalk.org or will not know about this website. Given a fact there will be more opportunities of getting rich. In short the people who get bitcoin ban in there specified country the higher chance of getting paid in a higher currency.
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Palmerson
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September 09, 2017, 10:49:25 AM |
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I don't care. Perhaps this will lead to a small outflow of speculative capital from China, but it will not be long. A Holy place is never empty. In their place will be others. The Chinese will go to neighboring countries and to buy and sell bitcoins there.
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chesegrinder
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September 09, 2017, 12:43:29 PM |
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honestly im tire about hearing about china onto crypto and bitcoin, now who cares if they ban ICO and local exchange they not the only country having great investors and develop exchanges and ICO, we have Russia Japan and coming Australia. Indeed that China is one game players of bitcoin and other crypto but when someone left there will be coming in as best as we have before. But remember Chinese businessman and investors will not be contended they will soar different country to buy and sell their bitcoin and other country. Right now I dont care if "China will get out of bitcoin".
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audaciousbeing
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September 09, 2017, 01:07:39 PM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
The influence of Chinese government cannot be under estimated and I would even wish they hands off everything at once rather than going back and forth over their position on what to do with bitcoin so we witness a crash which is sure to happen because of that decision but we will grow again and in our own pace and that will be sustainable to a large extent. |
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alyssa85
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September 09, 2017, 01:10:35 PM |
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Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
The problem was that the western exchanges followed the Chinese exchanges down, without knowing what was going on. It was sell first, ask questions about why later. Once the bulk of the trading happens on the western exchanges, this problem will go away. No-one is going to take any notice of a small market. So - the problem will solve itself when the bulk of trading happens on GDAX, Gemini, Bitstamp and Kraken. |
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pearlmen
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September 09, 2017, 01:18:43 PM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
I think I will agree that they should just leave bitcoin alone and everything that have to do with it but that will even come at a cost and aside the issue of exchanges that are dominated in China, another concern is the issue of mining activities becayse that alone if shut down by the Chinese government could mean an end to the whole process or even distort the chain by the time new bitcoins are not mined and transactions are not confirming as at when due. |
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cubevtc
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September 09, 2017, 01:19:43 PM |
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China are big loose for btc for sure
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Hasbro27
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September 09, 2017, 01:26:01 PM |
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Is it better to get China out of Bitcoin? I think the rejection of chinese to bitcoin has little effect on bitcoin, because more countries are legalized to transact using bitcoin. so I'm still confident of the bitcoin development in the future.bitcoin remains my investment choice.
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edynolan
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September 09, 2017, 01:27:33 PM |
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how to extract chinese bitcoin when bitcoin can be mine all over the world except state government in china forbid to mine bitcoin then china new out of mined bitcoin
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PhilPrime
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September 09, 2017, 01:41:19 PM |
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Is it better to get China out of Bitcoin? I think the rejection of chinese to bitcoin has little effect on bitcoin, because more countries are legalized to transact using bitcoin. so I'm still confident of the bitcoin development in the future.bitcoin remains my investment choice.
I think it will be much better, than they are the one's whose manipulating it. They are possible in dumping and pumping btc anytime they want too, which affects us too much. |
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Prodigan786
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September 09, 2017, 01:52:51 PM |
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Even am also bit nervous about china romour because china is the biggest market gor bitcoin definitely it will impact bitcoin for some days or month I hope but bitcoin will raise like after hard fork rumour.
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krishnapramod
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September 09, 2017, 01:55:34 PM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
It is not the first time the Chinese government/media is creating uncertainty, 2013, 2014, temporarily pausing major bitcoin exchanges in 2017, ICO ban, and now this rumor about shutting down exchanges (No official announcement) China is a big player when bitcoin is concerned, be it in trading volume, miner dominance/mining equipment manufacturing. I really don't think they would ban bitcoin and let their dominance slip away. If they do then the impact would be short-lived, the market would eventually recover. Bitcoin is legalized in Japan, one of the top three countries in terms of trading volume, and the recent announcement by GMO about investing in bitcoin mining. In case China bans bitcoin, some bitcoin friendly countries like Japan would become the next big player and a bitcoin friendly country dominating the bitcoin ecosystem is always far better than a country fooling around with bitcoin for the sake of creating uncertainty. |
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IamAltcoinfan
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homt.net
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September 09, 2017, 02:01:06 PM |
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I really don't care what china takes decision because even after china ban google Facebook other leading website even whatsapp there is no impact for that. May be for some days it will impact then after ignore the china .
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jerowacik
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September 09, 2017, 02:03:31 PM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
news about china is very influential on digital currency including bitcoin. the fact that bitcoin prices dropped quite drastically, but now we can breathe easier because bitcoin prices have started to show a positive trend. bitcoin prices have begun to move and return to rates above 45000 $. |
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deisik
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September 09, 2017, 02:04:58 PM |
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Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community It seems that you are a novice here And thus you likely didn't hear about the Chinese central bank (PBoC) taking steps against Bitcoin in the very beginning of this year. In fact, I don't remember quite well what was the first step the PBoC took against Bitcoin in the first half of January, 2017 (circa 11th), but Bitcoin crashed from +1,200 dollar to almost 750 dollars per coin. Regardless, Bitcoin rebounded pretty fast and with a vengeance at that. The second time they banned Chinese exchanges from allowing Bitcoin deposits as well as withdrawals. This second time should have had a more drastic effect on Bitcoin price but it hadn't. People saw that Chinese Bitcoin exchanges are mostly fake, and today people seem to have forgotten that |
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deadsilent
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September 09, 2017, 02:05:14 PM |
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That's only a FUD. They can't just ban bitcoin because they are the biggest on mining industry. If they are going to get rid of it. Many miners will be affected if that happen. It may affect also the price of bitcoin because China is one of the biggest player on bitcoin. If you remember when the bitcoin falls hard last year. It's because China(PBoC) spreaded rumors that they are going to ban this technology. But none of that happen. But it affects a lot on the price of bitcoin. What more if they totally ban it? Bitcoin will go back at the Stone age if that happen.
They are spreading FUDs to make bitcoin collapse to get some cheaper bitcoins. Anyway, right now is a different story. US, Japan and even Russia are now serious about this technology. If China bans Bitcoin. It's okay because these countries can take their place anytime.
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