China banning bitcoin exchages, good or bad?

[lordquanta]

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It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

[1714793718]

1714793718

[Yuhee]

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It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

We cant really blame them because there was another news that they ban ICOs in china. Maybe this is the result of that banning. Most government would see btc as an economic because it is virtual. They really dont have a full control of any virtual currency so i guess they may start there own virtual currency so that they wont be left out in this kind of investment. Maybe they banned it because they already have there own virtual currency.

[lordquanta]

China is a huge market of cryptocurrencies. Their banning of Bitcoin exchanges will definitely have a negative impact on the market. Market might experience a relatively large dump. But market as always will ultimately recover and will come back on track.

Indeed. If you see the immediate effects are visible. The bitcoin price has tumbled below $4000 and may continue same path for few more dollars. Best part is bitcoin will rise higher and grow stronger in its recovery. We have seen bitcoin doing that again and again. Every fall in price is followed new and higher peak price.
Thus in way this is great time to buy bitcoin and earn profit when bitcoin  goes in bull-run phase.

[lordquanta]

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.
.
It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

We cant really blame them because there was another news that they ban ICOs in china. Maybe this is the result of that banning. Most government would see btc as an economic because it is virtual. They really dont have a full control of any virtual currency so i guess they may start there own virtual currency so that they wont be left out in this kind of investment. Maybe they banned it because they already have there own virtual currency.

This makes sense when one observes how online trading/shopping happening in China. Everything is connected by single chinese government controlled app. At this point bitcoin is posing threat to this control. Nothing wrong on Chinese govt part as they are trying to get everything in line. They may introduce their virtual currency as it is less hassle and easy to administer.

[Sled]

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It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

We cant really blame them because there was another news that they ban ICOs in china. Maybe this is the result of that banning. Most government would see btc as an economic because it is virtual. They really dont have a full control of any virtual currency so i guess they may start there own virtual currency so that they wont be left out in this kind of investment. Maybe they banned it because they already have there own virtual currency.

This makes sense when one observes how online trading/shopping happening in China. Everything is connected by single chinese government controlled app. At this point bitcoin is posing threat to this control. Nothing wrong on Chinese govt part as they are trying to get everything in line. They may introduce their virtual currency as it is less hassle and easy to administer.

You have a point there. Since the china is the biggest country in asia then it is also hard for the government in china to control all the transaction of the people there so they need something that is easy to manage and that is not bitcoin and they already introduce some online payment app that they can use just like bitcoin and they can promote that more than bitcoin in the future.

[MintCondition]

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It has a big bad impact on the bitcoin value, because bitcoin investor will decreases if that happen, more people in china stop to used bitcoin if all exchange was getting banned.

This will indeed set a bad example for countries which were/are seeing bitcoin as enemy to their economic-control. Here China was and may be is one of biggest marketplace for bitcoin. This ban may be followed by others in future if they sense threat.

We cant really blame them because there was another news that they ban ICOs in china. Maybe this is the result of that banning. Most government would see btc as an economic because it is virtual. They really dont have a full control of any virtual currency so i guess they may start there own virtual currency so that they wont be left out in this kind of investment. Maybe they banned it because they already have there own virtual currency.

This makes sense when one observes how online trading/shopping happening in China. Everything is connected by single chinese government controlled app. At this point bitcoin is posing threat to this control. Nothing wrong on Chinese govt part as they are trying to get everything in line. They may introduce their virtual currency as it is less hassle and easy to administer.

Well maybe soon we can hear about that china coins later this year, since China really been influencing btc downfall this past weeks ,it evident that they are playing a big role in btc price.

[coinzoid]

Whenever Bitcoin overcome an obstacle, another one appears. News China banning icos and exchanges falls into this category. Obviously it does not look good right now, but any slight act, can be a game changer.

[severaldetails]

Just in case China would really ban its exchanges, how bad would the outcome really be?
How deep do we expect bitcoin to fall after such a move?
Personally I think the consequences are overrated. Exchanges have grown in other nations as well, it does not all depend on China anymore.

I think the fear of such a move is harming bitcoin at least as much as the actual closure would do.
In fact, after a closure we would know what we are dealing with, an the uncertainty would be gone.
And exactly that uncertainty is what keeps bitcoin down at the moment. Once that would be gone, bitcoin could start to grow again.

[mathuo 444]

i think china will effect in bitcoin price   because till now bitcoin lose 12% of it price now we talk about 4,000$

[squatter]

Just in case China would really ban its exchanges, how bad would the outcome really be?
How deep do we expect bitcoin to fall after such a move?
Personally I think the consequences are overrated. Exchanges have grown in other nations as well, it does not all depend on China anymore.

I think the fear of such a move is harming bitcoin at least as much as the actual closure would do.
In fact, after a closure we would know what we are dealing with, an the uncertainty would be gone.
And exactly that uncertainty is what keeps bitcoin down at the moment. Once that would be gone, bitcoin could start to grow again.

Indeed, a few years ago, I think this news would have been much more crippling to the price. A 20% move considering the FUD (and the technical case for a price correction) is really not unreasonable, all considered.

I agree that uncertainty around the supposed ban is keeping the market down. And I think the market has already fallen considerably on the news, pricing it in to some extent. I hope the PBOC comes out with an announcement that clarifies the situation. Maybe this has all been blown out of proportion.... that's another possibility.

[Nameless27]

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.
 

Even if we denied it, china as a cryptocurrency country they can easily affect bitcoin not much but enough for other users to panic. It can be bad in short term as the price of bitcoin decreases as what demand is now in low rate in co-relation of high supply due to rapid selling by unsatisfied bitcoin investors. But in a long term this event will eventually be giving a hint of what might happened again and we know how to handle it better.

[bitcoin31]

As of now the price of bitcoin decreased because chija ban bitcoin and I think thats the bad effect. But I think they have good effect also because if many people see bitcoin decreased for sure many people buy again so the price increase again and possilethe current high price will be increase more than the current price and you will earn a lot of profit. Butwe dont know what will happen in the next few days.

[Fazlurkhan.kz]

Well banning Bitcoin in China might be a good news for some of the Bitcoin holders as the investors of Bitcoin there might get panicked and in fear they might sell their Bitcoins in low prices ao definitely bad for them... And meanwhile  Bitcoin price might be affected... Don't know if they'll be affected in a good way or bad way... But they might definitely get affected.

[ichsan ardi]

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

if question is about good or bad, i think banning bitcoin exchange in china have good and bad affect. why good? because when bitcoin got banned the china's government will be easy to oversee an "illegal" project. and then to avoid the ease of "digital wallet" infiltrated by viruses or hackers can evaporate in seconds without any guarantee can return a dime. in addition, places or parties that facilitate Bitcoin transactions may also be subject to hacker attacks or suddenly bankrupt so many people who have been using their services are subject to loss. This loss can not be reported because there is no law in it. that's why banned bitcoin is Good idea. and why bad? because when bitcoin got banned, when bitcoin is banned, investors in china will find it difficult to invest their shares because it will go through many licenses to the government and follow the exchange rate prevailing in the state bank of china. this is feared will reduce the desire of investors to invest their shares. and I think, other countries will learn the impact of good or bad bitcoin in banned from china. if it is good, then many countries will follow it and if it is bad for china, I think other countries will not follow it.

[rjcnzy65]

China’s decision to ban all ICOs September 4 shook the world of cryptocurrency to its core. As a result, by Monday afternoon in the U.S., nearly 20 percent of the combined asset value of all cryptocurrencies disappeared, with total losses approaching $38 billion.

[kpcian]

I think by taking this decision of China, have both side impact. for a group of people, it brings a good news but others will suffer a loss.
in China, all of the things have to face a ban at the early stage but at later, China government will get benefitted from that sector. that's why Banning Bitcoin is not a panicked news for Bitcoin users. it will be free very soon.

[nidacoinlove]

China is a huge market of cryptocurrencies. Their banning of Bitcoin exchanges will definitely have a negative impact on the market. Market might experience a relatively large dump. But market as always will ultimately recover and will come back on track.

Indeed. If you see the immediate effects are visible. The bitcoin price has tumbled below $4000 and may continue same path for few more dollars. Best part is bitcoin will rise higher and grow stronger in its recovery. We have seen bitcoin doing that again and again. Every fall in price is followed new and higher peak price.
Thus in way this is great time to buy bitcoin and earn profit when bitcoin  goes in bull-run phase.

Bitcoin price fell down to $3800 I am expecting the bitcoin price to drop more and have no idea at the moment where it can fall to. I guess this time bitcoin will take quite long time to recover it's price because no one in China is going to take a risk to buy bitcoin and go against the government policy about the cryptocurrency. I was expecting this to be happen because China was the one with the biggest trade of bitcoin in the world. Things are not the same now I wish Chinese government takes it decision back of ban on cryptocurrency exchanges.

[Quidat]

China is a huge market of cryptocurrencies. Their banning of Bitcoin exchanges will definitely have a negative impact on the market. Market might experience a relatively large dump. But market as always will ultimately recover and will come back on track.

Indeed. If you see the immediate effects are visible. The bitcoin price has tumbled below $4000 and may continue same path for few more dollars. Best part is bitcoin will rise higher and grow stronger in its recovery. We have seen bitcoin doing that again and again. Every fall in price is followed new and higher peak price.
Thus in way this is great time to buy bitcoin and earn profit when bitcoin  goes in bull-run phase.

Bitcoin price fell down to $3800 I am expecting the bitcoin price to drop more and have no idea at the moment where it can fall to. I guess this time bitcoin will take quite long time to recover it's price because no one in China is going to take a risk to buy bitcoin and go against the government policy about the cryptocurrency. I was expecting this to be happen because China was the one with the biggest trade of bitcoin in the world. Things are not the same now I wish Chinese government takes it decision back of ban on cryptocurrency exchanges.

They would really do such thing on which they would remove that ban later on and business would go as normal again on bitcoin.It would still really go lower on its price even more on these upcoming days and as you said I don't have any idea on where to prices go.It does really give a bad impact on the price because of that Chinas decision regarding on banning ICO or even on Bitcoin.

[Eugenar]

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

Obviously, it affected Bitcoin especially at this moment, negatively. The market value of Bitcoin fell and now less than 3900$ from being 4500$ in just a short period of time. And the dumps is continuous at this moment. But we still need to compel holding into our Bitcoin. The only thing that we can do is to wait for its market value to increase again, patiently.

[emezh10]

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

Banning of Bitcoin exchanges with the premises of China is a bad scenario because as far as we all know, and we can observe, the current price rate of bitcoin is now experiencing a real hard scenario in which the price dumps real fast that is really alarming and has a bad effect to the bitcoin users earning that we take hold and save for a long period of time.