China banning bitcoin exchages, good or bad?

[zurc]

It is obviously bad for a mean time just like what happened these days, bitcoin price in the market has dropped because of the issue but immediately recovers for a few days.

[fanbeila]

No,china's ban on ICOs just had a negative impact on bitcoin's price for only two or three days resulting in bitcoin price to reach $3,100.But soon it recovered and now its almost $3,961,.This clearly shows that bitcoin is no more dependent on china for its future.Its good that the world has now realized that bitcoin has investors world wide more than in china.Now,its time to set up more mining farms in other parts of world to make mining once again decentralized thus getting completely out of china's control.GMO,japan's leading internet company has announced the manufacturing of ASIC miners.So,in a long term basis,china banning bitcoin exchanges is only good for bitcoin.

[YTBitcoin]

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

That's right that China is one of the largest market holder and firm around the world and maybe it's a bad news because China is one of the location of the world's highest investors and investment being done.The banning of China on Bitcoin makes a negative impact especially in the Bitcoin community because we lose one of the highest investors.

Don’t we have rumors? I have studied here and listened in news that this was just false news and nothing had happened like this so far. This dip was the results of something other than this China turmoil. Still if it happened then surely we had bad impact.

[okala]

Banned of local exchanger's is bad for Bitcoin market both local and international markets in a short term but in a long run Bitcoin will definitely regained it momentum in upwards move. Chinese according to online data own over 45 percent Bitcoin in circulation and because of this they have strong influence on Bitcoin and other altcoins. We would need time to reduce this influence Chinese people has on Bitcoin and ctyptocurrency in general.

[cryptocortex]

China banning Bitcoin is temporarily bad. But in general, after the market calms down, Bitcoin always comes back stronger than before.

The technology is here to stay. If you don't want to give them more power, don't panic, and hold your coins.

[Polar91]

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

China's banning of bitcoin exchange really have a bad effect on the bitcoin community whether you admit or not. It is because China has been one of those countries who have been widely using bitcoin and where big potential investors and a large population of bitcoin users can be found. I think the bad effect will just be a temporary situation since there are still a lot of countries worldwide supporting bitcoin cryptocurrency.

[tbterryboy]

In a long term basis,it's good for bitcoin progress.Its because bitcoin has already suffered a lot due to price manipulation by chinese bitcoiners and dominance of bitcoin miners.We could not forget the hurdles created by chinese mining pools and miners in activating segwit.Earlier,bitcoin market was mostly dependent on china for every thing.This move by china could hurt bitcoin price temporarily,but in the long run,it would help mining pools spread in all parts of the world and by this way,the dragon era would finally come to an end soon.

I think it is a bad thing, because the world is progressing towards bitcoin and the most financially powerful country of the world is banning bitcoin exchanges. It means that they will never accept bitcoin as their legal and regular currency.

The reason may be the scams that the people do not believe in bitcoin, that’s why china banned bitcoin or is going t ban bitcoin in tneir country.

[pshemek]

it is bad that china is not going to accept bitcoin cause they are so many people over there. but i understand that it is because they will protect there own values and they cant control bitcoin.

[sampalokmix]

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

Maybe because they looking for some more opinions regarding this issue, but for me, it is not bad for the bitcoin that China banned exchanges or transactions cause I think bitcoin will still be functional without China, even though bitcoin decrease its price by 10% but still its existing.

[PhucS]

This will inevitably affect Bitcoin, especially its value. I think this is not good news. Although Bitcoin does not depend on any financial institution or state, but we have to admit China is having a big impact on it because it is one of the countries with the highest popularity of Bitcoin, the number of transactions at this is a lot. In the past, every decision of China was related to Bitcoin, we see its value is affected. Bitcoin prices are currently falling, perhaps due in part to the impact of the decision

[ocid]

It is obviously bad for a mean time just like what happened these days, bitcoin price in the market has dropped because of the issue but immediately recovers for a few days.

true, in such a short time as yesterday it is so bad that it affects the bitcoin market price caused by the Chinese government. but after 2-3 days passed everything can be resolved again.

[dark08]

This will inevitably affect Bitcoin, especially its value. I think this is not good news. Although Bitcoin does not depend on any financial institution or state, but we have to admit China is having a big impact on it because it is one of the countries with the highest popularity of Bitcoin, the number of transactions at this is a lot. In the past, every decision of China was related to Bitcoin, we see its value is affected. Bitcoin prices are currently falling, perhaps due in part to the impact of the decision

Yes Bitcoin have not yet depend on any financial institution but in this happening to china that banned the ico, bitcoin was strongly affect and this is not really good for all of us because the price are going down day by day. But I believe in bitcoin potential it can really recover and back to normal and pump again stay calm and trust bitcoin what ever happen this situation was only a proof that there's a lot of people in china are believing in bitcoin.

[katiecbell]

Part good and part bad.
The bad part is it affected the bitcoin price and it fall down for a number of dollars and we don't know what else could happen after this.
The good part would be that they have taken care of the fake ICO's that are designated in their country and that could also have a good effect in the ICO world. 

Yes it is true. To some extent good and to some bad. The good thing is that in my opinion the no surety of security.

And no accessibility and no legal support from all over the world. and the bad thing is that bitcoin supposed to be the world only crypto digital currency in the near future, and all the world will deal only in bitcoin. Many countries are going to legalize bitcoin and China is going to ban it.

[Ctn]

It feels like both good and bad. Firstly it feels good because pumper and market fluctuating community is not going to be involved in the bitcoin anymore. This will at least assure us with the security of our funds or investments. They use to be very vulnerable in the market and could have dumped it like crazy.

Now it's bad because the china banned the bitcoin at that specific period when the bitcoin was about to cross the 5K value and could hit the hall mark of 6k who knows!! Anyway what happened is what happen now it's time to move on.

[coin_1122]

China banning Bitcoin is temporarily bad. But in general, after the market calms down, Bitcoin always comes back stronger than before.

The technology is here to stay. If you don't want to give them more power, don't panic, and hold your coins.

Yes, technology is going to stay so the value of Bitcoin will increase. Don't panic for this small dip everything will be corrected once everything settles.
Now many people are panic about the market with the China news but Bitcoin price will recover the only thing we can do is hold.

[haroldtee]

China banning Bitcoin is temporarily bad. But in general, after the market calms down, Bitcoin always comes back stronger than before.

The technology is here to stay. If you don't want to give them more power, don't panic, and hold your coins.

Yes, technology is going to stay so the value of Bitcoin will increase. Don't panic for this small dip everything will be corrected once everything settles.
Now many people are panic about the market with the China news but Bitcoin price will recover the only thing we can do is hold.

The funniest thing is that stuffs like this have happened in the past with china banning this or banning that. A time will come when they will most definitely come around and understand that their ban cannot cause anything negative as we can do so good and perfect without them. They know that already obviously and whatever they want to achieve is no one's concern.

[deisik]

China banning Bitcoin is temporarily bad. But in general, after the market calms down, Bitcoin always comes back stronger than before.

The technology is here to stay. If you don't want to give them more power, don't panic, and hold your coins.

Yes, technology is going to stay so the value of Bitcoin will increase. Don't panic for this small dip everything will be corrected once everything settles.
Now many people are panic about the market with the China news but Bitcoin price will recover the only thing we can do is hold.

The funniest thing is that stuffs like this have happened in the past with china banning this or banning that. A time will come when they will most definitely come around and understand that their ban cannot cause anything negative as we can do so good and perfect without them. They know that already obviously and whatever they want to achieve is no one's concern

I guess this time has already come

The Chinese authorities (the Chinese central bank, more specifically) have been bitching about Bitcoin since the beginning of the year, and right now the effect of their actions seems to quickly vanish even though with each iteration their actions and intents become more desperate and evil. Now they are going to create their own version of Bitcoin by making local miners support it. That's what Charlie Lee seems to refer to in one of his recent tweets saying that mining is not going to be prohibited in China. Yes, miners will be allowed to stay provided they agree to mine China-coin

[AnnaRasskazova]

China was banned from exchanging. But, I think it's not for long. Although very bad! (

[HatakeKakashi]

As of now the price of bitcoin decreased and thats i think the bad effect of ban bitcoin exchange in the country of china. I think why bitcoin decreased because many people they have doubt in their mind so they sell their bitcoin . For sure we experince again decrease price if china ban bitcoin officially in september 30 but we dont know what will exact happen in bitcoin if the prixe increase or decrease.

[coinplus]

it is bad that china is not going to accept bitcoin cause they are so many people over there. but i understand that it is because they will protect there own values and they cant control bitcoin.

Read the news properly. For now, China has not come out to say they are not accepting bitcoin and we are not even sure yet where they stand as most of the regulators are busy saying different things. One thing for sure is that china have always perceived bitcoin as a threat to their monetary policy, so they are banning domestic trading activities but they are not banning bitcoin as they are both totally 2 different things.

If you like, you can keep mining and take your bitcoin somewhere else to change cause you wont see any exchange to change it for you in china.