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Author Topic: China banning bitcoin exchages, good or bad?  (Read 6899 times)
stars.exchange
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September 11, 2017, 05:14:36 PM
 #21

the exchanges in China doesn't like to believe the government is shutting down. to shut down all the exchange is equivalent to closing down major banks. which creates more social problems.
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September 11, 2017, 05:15:05 PM
 #22

If china ban bitcoin exchange , there will be 2 side good and bad happen:
- Good: china is known as some fucking mafia always try to pumd and dump the coinmarket to earn profit from it. So if they get banned there will be no more overrated price in the market anymore.
- Bad : china is known as the biggest crypto currency exchange in the world, so if they get banned the price of the crypto will all drop , bitcoin will get a big hit one cause many investor in china will exchange bitcoin back into their real currency , so i guess it will damage real bad at the crypto economics.
So finally i think the best way is china will not be banned from bitcoin exchange.
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September 11, 2017, 05:51:28 PM
 #23

Not sure if what was written in that news was a definitive that China is indeed banning bitcoin exchanges. As the article only stated that there are plans to do so. If, however, it does pushes through then it could post a potential problem for bitcoins indeed. The problem is that other countries might try and follow suit what China has done and ban bitcoin exchanges too.
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September 11, 2017, 08:43:11 PM
 #24

China knows this news will push the price down. It is possible they released this news deliberately to lower the price and give themselves a good buy position before the next big pump. There's no guarantee the proposed ban on exchanges will be enforced. China has a "one child policy" which wealthier demographics are able to buy their way past. In china it may be much easier to avoid laws and regulations with bribes than it is in the united states or most western nations. This ban doesn't have to be a hard ban etched in stone. It could have no palpable effect over the long term.

When people discuss stock markets and topics like price manipulation come up. This type of news can fall under price manipulation. The information doesn't mean much within the grand scheme of things. But that doesn't matter if the end goal is to move the price in one direction or other, with the intent of profiteering.

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September 11, 2017, 09:09:14 PM
 #25

Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China.
Do you think this would affect  bitcoin world and bitcoin price in negative way or positive way?  Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.


[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11
This is going to be terrible ,if China makes such a move  it will affect a big amount of bitcoiners, trading will be traders for Chinese and non Chinese people.  A large amount of bitcoiners belong to China and the price of bitcoin and other crypto currency might be affected.  Individual miners and miner firms may also be affected by this. God knows what China is up to and what they might end up doing in the future.


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September 11, 2017, 09:30:39 PM
 #26

Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China.
Do you think this would affect  bitcoin world and bitcoin price in negative way or positive way?  Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.


[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11

It would literally crash the market considering that as stated that most mining power is from China. most of them Chinese bitcoiners would sell their coins for their currency.
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September 11, 2017, 09:45:15 PM
 #27

China knows this news will push the price down. It is possible they released this news deliberately to lower the price and give themselves a good buy position before the next big pump. There's no guarantee the proposed ban on exchanges will be enforced. China has a "one child policy" which wealthier demographics are able to buy their way past. In china it may be much easier to avoid laws and regulations with bribes than it is in the united states or most western nations. This ban doesn't have to be a hard ban etched in stone. It could have no palpable effect over the long term.

When people discuss stock markets and topics like price manipulation come up. This type of news can fall under price manipulation. The information doesn't mean much within the grand scheme of things. But that doesn't matter if the end goal is to move the price in one direction or other, with the intent of profiteering.

Its either price manipulation of some insider information or some of the Chinese entities that really benefit from this such announcement coming from them. Imagine the timing of their news, we are just enjoying a massive bull run and then they derailed it, but already some of them have dump their coins already to take profit then buy back bitcoin in this dip. I can't really fathom why is there a u-turn, when in the beginning they are going crazy and putting a lot of mining farms in the last couple of years. For me, they are entities behind coming from them with the inside information ahead of the declaration dumping in already, and just like you say, with the intent of profiteering.

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September 11, 2017, 10:23:12 PM
 #28

I believe that its a fear hyped campaign to make a new entry point for rich people. I believe that if China bans the exchanges, the coins will have greater scarcity involving a large % of the trading population. There will be less coins floating around being traded, meaning harder to sell, harder to buy. I think the price will increase because the coins will be in fewer hands than previously, a consolidation if you will. I am not selling.

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September 11, 2017, 11:08:39 PM
 #29

I believe that its a fear hyped campaign to make a new entry point for rich people. I believe that if China bans the exchanges, the coins will have greater scarcity involving a large % of the trading population. There will be less coins floating around being traded, meaning harder to sell, harder to buy. I think the price will increase because the coins will be in fewer hands than previously, a consolidation if you will. I am not selling.
There are many news from the past that bitcoin got it's dumped little of the price. So I don't believe this will give a huge impact to bitcoin to over dump the price. Somehow, bitcoin will recover and will continue to increase. Others will buy back at a good price to earn a good profit.

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September 11, 2017, 11:10:04 PM
 #30

It will be bad for Bitcoin, there will be a panic sale from the investors and that will  caused the price will fall down, we will lost users, china's users is quite a lot consider that a lot of them were mining Bitcoin, I think the government is overreacted but since the decision has been made we will see how is the next progress


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September 11, 2017, 11:52:07 PM
 #31

Of course bad, because china market is the biggest in the world and price influence from china exchanger is very big. I hope it does not happen and bitcoin can be freely traded in china and elsewhere.

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September 12, 2017, 12:32:34 AM
 #32

It is a bad idea for the China to ban bitcoin exchanges because it will become a huge effect in the market and a lot of people in china will not be able to trade or buy and sell bitcoin because they don't have an exchange to use but as of now, i can say that it is not happening because if China ban all the bitcoin exchanges then we can see at least $1,000 bitcoin right now.

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September 12, 2017, 12:40:23 AM
 #33

Bad for the Crypto markets. If Chinese people can't trade as easily, less liquidity.
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September 12, 2017, 12:48:30 AM
 #34

Everybody is already discussing this like it's set in stone.
I'm in doubt it's even true.
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September 12, 2017, 01:08:23 AM
 #35

I believe even the Chinese government banned the local bitcoin exchange sites. Bitcoin will continue to soar. Many countries like Korea, Japan are adding Bitcoin as a mode of payment.

Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China.
Do you think this would affect  bitcoin world and bitcoin price in negative way or positive way?  Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.


[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11

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September 12, 2017, 03:10:08 AM
 #36

It will be bad for Bitcoin, there will be a panic sale from the investors and that will  caused the price will fall down, we will lost users, china's users is quite a lot consider that a lot of them were mining Bitcoin, I think the government is overreacted but since the decision has been made we will see how is the next progress

It would be bad because many are mining bitcoin in China and if they suddenly pull out their investment in crypto then bitcoin and other coins would take a hit but then bitcoin would still recover and would continue to rise. Bitcoin has taken some major hits before but look at it now, still soaring higher and because bitcoin is much popular now compared before then bitcoin would still recover. A simple rumor alone made a hit to bitcoin's price and the news followed but there are other countries who are actively promoting it along with other cryptocurrencies thus making it more stronger. There are others who are waiting for the price to fall down more so that they can buy it cheap.

For the new ones that just entered the crypto world, this is a test whether they can take the world of volatility of crypto and those who have strong risk appetite would remain and others that just can't take it would likely exit the scene selling at a loss. A lot is happening in crypto world and this would be something new for the people who traded stable securities before thus a huge change of price in just minutes is quite shocking.

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September 12, 2017, 03:25:04 AM
 #37

Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China.
Do you think this would affect  bitcoin world and bitcoin price in negative way or positive way?  Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.


[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11

I think in some factors it would affect Bitcoin because lots of chinese investors engage in Bitcoin trading and as we all know Chinese are very good Investors. But I think that is just one factor because there are still a lot of countries investing in bitcoin and that wont stop because it is worldwide and China is only one country who bans it.

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September 12, 2017, 03:26:30 AM
 #38

this news could affect the bitcoin price yesterday. since china prohibits ico bitcoin drastically down sharply. but there are some positive things behind this china instead of bitcoin banned. but china banned ico. the reason is because this is illegal by way of fundraising in outline here bitcoin harmed and affect the bitcoin price of course china do not want to take risks. so in fact this becomes positive for bitcoin in the future.

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September 12, 2017, 03:58:06 AM
 #39

This is very good news for us and bad news for the fellow Chinese. This is because china is anyway very bad at handling the worlds concern and they are more focused on how they could destroy the world economy. At least we can sense that from the many of the events that has occurred because of china.


Anyway, I would go straight on effects now. Considering china ban on exchanges this will reduce the investment from china side meaning the volume will decrease significantly for bitcoin and altcoin as well. But this effect won't last longer as more investors will be produced from the rest Asia Pacific region due to deceased price of bitcoin. So it looks like a good and bad in both ways and if you are very broad minded investors then you will find this as good news as it is creating new opportunities.



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September 12, 2017, 04:16:13 AM
 #40


Do you think this would affect  bitcoin world and bitcoin price in negative way or positive way? 


[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11

The ban on all Chinese exchanges, if true, would be very bad for the liquidity of BTC. The Chinese people accounts for a large percentage of volume, without them, BTC could become more volatile that it is today.

The market prices of every cryptocurrency would also go down because of negative and bearish sentiment.

https://www.burst-coin.org/proof-of-capacity - Ensuring Maximum Fairness And Trivial Energy Consumption
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