China banning bitcoin exchages, good or bad?

[redsun114]

those news are not new. bitcoin price already down 10% with this news. why still opening new thread with same news?

its not Good, because tjhe thing is, that China, although having a lot of users with BTC does not really control them, and are not even banning them so BTC will continue to be a good way of holding value, the bad thing is, they do not succed to banned ICO, the Good thing for us the value of bitcoin is so high

Chinese did bad with themselves and they will regret about this decision in future and bitcoin proves itself as they banned it bitcoin successfully come from the dump time ad ow price has already gone up to 5000USD and still counting on, china cut off the bridge that is leading to the economic stability as well as development and as result they will lag behind in future.

[deisik]

Yes, after banning the local bitcoin exchange in china bring a big effect in the bitcoin world. China is the largset users of bitcoin and most of the traders and investors are from china. Now that they are out on bitcoin it lessens the number of investors and traders.

For me its a bad news. Since the Chines use crypto more than other and the number of bitcoin users in china is higher than other countries . But its not gonna effect on bitcoin neither its value in long term .The price of bitcoins were decreased a bit because of this news  but its covered now.
The moral of the story is Not to panic on such news and trends and keep holding on, till the price recovers.

The truth is that it only showed the strength of bitcoin and how fast it has become to bounce back even in the face of attack and challenges from the government which will make them understand the more that there is nothing they can do to stop bitcoin

This is the sad truth

Sad for the governments, obviously. You see, some governments chose to outright ban Bitcoin but they would be like outcasts (or just outcasts) in the modern world where the policy of soft power prevails. Other governments like that of Russia chose a more convoluted and contradictory approach since they don't intend to ban Bitcoin as well as other currencies, but this doesn't in the least mean that they are pro-Bitcoin. They just understand that they shouldn't forbid what they lack the power to prevent. So they decided to act as if they are going to regulate Bitcoin which in fact means making it impossible for ordinary folks to get involved in Bitcoin, for example, by blocking access to Bitcoin exchanges, banning anonymizers and VPN's, enacting stricter regulations on cash withdrawals and things like these

[Duogembrot]

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 only temporary not permanent and i heard there is good info that china will soon open and legalize bitcoin transaction again.

[futile-resistance]

Good, as of now what I heard about the news of china's government banning the bitcoin exchanges is that yes it heavily affected the price of bitcoin but it doesn’t mean that bitcoin will loose more. As of this day since the ban the price of bitcoin went down making more bitcoins affordable. Its time to stock up more bitcoins so that once the issue is resolved the bitcoin price will surge up again.

When the price goes down due to chines ban people rushed toward the bitcoin because it was available at the low price that dump acquired attention of people and they bought a lot and now it has started to rise and reached to the 5000USD and that figure shows that bitcoin has ability to come out safely from the critical situation and this bring the joy on face of investor and show the sign of good profit in future.

[btcjocan]

Good, as of now what I heard about the news of china's government banning the bitcoin exchanges is that yes it heavily affected the price of bitcoin but it doesn’t mean that bitcoin will loose more. As of this day since the ban the price of bitcoin went down making more bitcoins affordable. Its time to stock up more bitcoins so that once the issue is resolved the bitcoin price will surge up again.

When the price goes down due to chines ban people rushed toward the bitcoin because it was available at the low price that dump acquired attention of people and they bought a lot and now it has started to rise and reached to the 5000USD and that figure shows that bitcoin has ability to come out safely from the critical situation and this bring the joy on face of investor and show the sign of good profit in future.

Exactly! It attracted a lot of investors since they can have an advantage of buying more bitcoins when China decided to ban it in their country. And now, look at the bitcoin's price, it rise up so quickly and its price keeps on increasing. So, there may be disadvantage but there are more advantages when the Chinese government banned the bitcoin.

[Hotel_Prodeo]

No effect whatsoever, this is because the user is so large and vast that if the banned will not have any impact, the proof is the price does not drop and continue to rise and now reaches more than $ 6000.

[Magic Sarap]

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 appears that it benefit Bitcoin. Truly, Bitcoin suffered a huge downfall just because China banned exchanges and ICOs. But Bitcoin id able to recover and its value continuously increase after that. Bitcoin is now priced at 6000$ from being down to 3500. It is still increasing and it never increase as big as this when China is still around. So I think it became good for Bitcoin to lose China.

[matanglawin]

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 it is still bad, losing China. China banned exchanges and ICO, from that, it resulted to major market downfall. Bitcoin's value before is downed to 3500 from 4500. It managed to recover and even passed its value before. But I think it will still be a help if China is around since it is one of the major investors so it would still contribute on the increase of Bitcoin's market value.

[BeGoods]

No effect whatsoever, this is because the user is so large and vast that if the banned will not have any impact, the proof is the price does not drop and continue to rise and now reaches more than $ 6000.

yeah bitcoin users continue to grow from different countries and bitcoin users more and more not just from china alone. certainly although chinese do bans on bitcoin it will not make bitcoin die but I think that it will make bitcoin slightly shaken dude? because China is one of the country's that have biggest bitcoin users.

[ToyotaFortuner]

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's bad but i heard china has opened up the exchange again and bitcoin already in legalkan in china, this kana make the price higher.

[taiwww]

China decided to block ICOs first, then came the shutting down of domestic bitcoin exchanges.
Both these news created a wave of panic on the minds of bitcoin users community.
China was the biggest user of bitcoins. China was home to the largest group of bitcoin miners on the planet, their contribution was nearly 71% of total mining income all over the world.
After ban from china bitcoin price has fallen 20% from its all time high of 5000$.
But china ban created an opportunity for the potential buyers who were eager to invest in bitcoins but waiting for a sharp correction.
These investors grabbed the opportunity and as a result bitcoin is now above 6800$.
It is difficult  for a communist country like china to have permission for such a decentralised cryptocurrency to work under their nose.
In future China may have permission to bitcoins by putting some regulations.

[Best Dreams]

Good, as of now what I heard about the news of china's government banning the bitcoin exchanges is that yes it heavily affected the price of bitcoin but it doesn’t mean that bitcoin will loose more. As of this day since the ban the price of bitcoin went down making more bitcoins affordable. Its time to stock up more bitcoins so that once the issue is resolved the bitcoin price will surge up again.

Well I don’t know why we are giving a bid importance to china about bitcoin if china even say good bye to bitcoin forever so nothing will happen to bitcoin even Indonesia also banned bitcoin and when we see the price of bitcoin so it’s good and the reason behind this is that other countries have accepted bitcoin and some of them make it legal.

[tenkuna]

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 you do not need to worry. They banning bitcoin in their country. bitcoin only affected a bit and then gradually stabilized.if i'm not mistaken In the past they did this with bitcoin

[etherflyerofficial]

Definetely it's bad! THe banning stops growing of the usuage of Bitcoin! It's gonna be a bid diadvantage to Bitcoin!

[waynechong1995]

Well their people could just switch to other exchange with ease if they wanted to, everyone have a timeline to make their withdraws right. Btw based Chinsee officials, they are not banning exchange once for all but to order a immediate shutdown, or cease to operate so that a detailed audit could be done. It's actually good as those exchange would comply new rules, and they are start to pop up again within other countries under the same company name. China government is longer a big influence anymore, big China whales are still swimming in their cheap mining farms though.

[Semar Mesem]

I think this is bad news, as we know that china is the biggest bitcoin user so if the chinese government banned bitcoin it will have a big impact for bitcoin price in the short term.

[cryptoblue]

It did have negative impact, but it was temporary. Nobody can stop bitcoin. It is here to stay. In fact, it would gain more acceptance in future.

[Apaxy]

I think this is bad news, as we know that china is the biggest bitcoin user so if the chinese government banned bitcoin it will have a big impact for bitcoin price in the short term.

it's all in the past. I would not plan on this issue and I am sure that the Chinese government has solved the problems that bothered them in terms of the crypto currency.

[henmark]

Definetely it's bad! THe banning stops growing of the usuage of Bitcoin! It's gonna be a bid diadvantage to Bitcoin!

Bitcoin is worldwide used almost in all countries so I think its development can’t be stopped. I agree it development will be a bit affected if too many countries banned it but now bitcoin is a need of the world. The system of world can’t run properly without a digital currency because the online payments can’t be done with physical currency and I think in all digital currencies bitcoin is the best and the easiest to use.

[Emem29]

China always has an effect, they are also one of the largest users of bitcoin, so if China banning bitcoin exchages this is bad. but I still believe bitcoin will at least strong enough with such issues and could quickly back to normal.
 

Its not good to ban ICO in china, becuase if ICO baned in china all altcoin will dump. Lately china will announce for banning ICO's. But  now it is ok for china, we dont need to panic now, we all know now all altcoins is stable.