China banning bitcoin exchages, good or bad?

[NathanJB]

That is bad for the value of bitcoin. We all have felt the effect on it to the market. Bitcoin and then almost all the altcoins went down when the news came that china will ban all ICOs and then looked at with negative interest to the exchanges right after that. But I think it would be better for bitcoin and altcoins to be staying away from the chinese.

[zzSunZZ]

Whether it's the Chinese, or the Koreans, or the Russians or us Americans is anybody's guess at this moment, but what it looks like for a few cryptocurrency players out there is that the Chinese have found a new way to get back into the game. China banned initial coin offerings and bitcoin exchanges in the first week of September. The ban caused a precipitous drop in cryptocurrency flows worldwide. China's ban is likely temporary. The U.S. and Japan are quickly moving to create rules that will help to legitimize cryptocurrencies by giving investors protections under existing securities laws. That will help companies raise capital through alternative methods, rather than via venture capital and the equity markets, potentially opening up a whole new financial market. Most crypto-currencies have recovered since China took a hammer to the two biggest names: bitcoin and ether. Bitcoin prices are over $4,000 again.

[Sled]

That is bad for the value of bitcoin. We all have felt the effect on it to the market. Bitcoin and then almost all the altcoins went down when the news came that china will ban all ICOs and then looked at with negative interest to the exchanges right after that. But I think it would be better for bitcoin and altcoins to be staying away from the chinese.

You can really see in the markets of bitcoin and other altcoins that they are going up now and that is the proof that even the chinese people banned bitcoin exchanges, it doesn't actually fully affect the prices of the coins and that is why bitcoin is a good investment because even the big countries will left bitcoin, it can still stand by itself and proved that their decisions are wrong for dumping bitcoin from their country.

[gabmen]

That is bad for the value of bitcoin. We all have felt the effect on it to the market. Bitcoin and then almost all the altcoins went down when the news came that china will ban all ICOs and then looked at with negative interest to the exchanges right after that. But I think it would be better for bitcoin and altcoins to be staying away from the chinese.

You can really see in the markets of bitcoin and other altcoins that they are going up now and that is the proof that even the chinese people banned bitcoin exchanges, it doesn't actually fully affect the prices of the coins and that is why bitcoin is a good investment because even the big countries will left bitcoin, it can still stand by itself and proved that their decisions are wrong for dumping bitcoin from their country.

Right. People became nervous when it started and it even came at.the same time with jamie dimon's announcement. But as we all know now, one the tide settled, bitcoin recovered pretty well and is now on its way to retrieving its previous price at under 4.5k. China has lost its grip over users and it doesn't have that much effect anymore

[joshki]

That is bad for the value of bitcoin. We all have felt the effect on it to the market. Bitcoin and then almost all the altcoins went down when the news came that china will ban all ICOs and then looked at with negative interest to the exchanges right after that. But I think it would be better for bitcoin and altcoins to be staying away from the chinese.

You can really see in the markets of bitcoin and other altcoins that they are going up now and that is the proof that even the chinese people banned bitcoin exchanges, it doesn't actually fully affect the prices of the coins and that is why bitcoin is a good investment because even the big countries will left bitcoin, it can still stand by itself and proved that their decisions are wrong for dumping bitcoin from their country.

That's not necessarily true.  The market isn't totally dominated by China perhaps, but if enough countries do take action against it there will be some difficulty in keeping it liquid, which will depress the price.

[Wexnident]

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 is bad. It resulted to major cryptomarket downfall. In just a short period of time the value of Bitcoin dropped to 3300 from 4400 after what happened. And also, China is one of the major investor of Bitcoin and has a big influence in cryptocurrency. But good grief because Bitcoin is able to recover from what happened. It proves that it is still able to be successful with or without China. It is just that Cjina is still a loss  hoping that the increase will be continuous for Bitcoin.

[Ivan16]

China have many investitors,before ban came thay sells all his currency and effect be drop his values,my opinion is this move will not have serious consequences in the future on values of currency only in numbers of investitors and different structure.

[mastica]

It looks like some people took advantage of the banning at exchanges to damage bitcoin value, all they are doing is legalizing the exchanges giving them licenses to operate into the market, soo as i heard about the legalization is coming into China, soo prepare for a huge demand for bitcoin.

[deisik]

On the other hand,if china declares bitcoin mining too illegal,then definitely we would face a serious problem in transacting bitcoins since most of mining farms are in china and so transactions would get stuck.But very soon,it would recover due to mining farms getting created in other parts of the world.

That's unlikely to happen

It is even unlikely that China is going to ban Bitcoin mining in the first place. Nevertheless, if anything is really set to happen like that, and that would be for real (in respect to most transactions stuck), the remaining miners could vote for the so-called emergency difficulty adjustment (EDA). If the EDA proposal succeeds, the mining difficulty will be readjusted immediately, and then blocks will be mined as usual. Other than that, as the saying goes, the throne is never empty, and, as I'm inclined to think, there will be more than enough hashing power to compensate for the departure of the Chinese miners (anyway, good riddance to them)

[Hasbro27]

before I thought it would have a bad effect on bitcoin, but it turns out that it only deals with temporary bitcoin prices, now bitcoin prices are back to normal

[Tigran88]

In my opinion it is bad. And we saw how bitcoin is go down. Whery many people who invest  in bitcoin China.
But now BTC price retern to normal and will be rise.

[Lintels]

I don't think this is anything new. If I'm not mistaken China already did that in the past. I think it will of course affect the price of BTC, because of all those panic sellers, and all of those that just use BTC to trade. The 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. So the price will go down a little, and them will just recover, because the guys that know the true value of BTC, will just hold them around the world.

China has done this before in the past. i do not know what they will do. But I still do not understand. why They banned bitcoin in their country

[KaliLinux]

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 don't know how sure china government going to ban bitcoin. If it happens it will affect the bitcoin growth and probably it leads to some point of negative deviation in value however still their absence does not stop the bitcoin and it will get back to its value to peak soon

[usorin]

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 don't know how sure china government going to ban bitcoin. If it happens it will affect the bitcoin growth and probably it leads to some point of negative deviation in value however still their absence does not stop the bitcoin and it will get back to its value to peak soon

The bitcoin ban from China's goverment brings confirmation tht it is a viable market. The question is what it the reason of the ban. Thei took this masure because they finde thireself in the inca0acity t9 control the situation, the cryptocurrency has influence i  the ntional market, or it's just a political masure to mentaine a surten state of spirit.

[lordquanta]

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 don't know how sure china government going to ban bitcoin. If it happens it will affect the bitcoin growth and probably it leads to some point of negative deviation in value however still their absence does not stop the bitcoin and it will get back to its value to peak soon

Same thing happened when south korea banned the ICO however bitcoin price is getting back to the normal again. Recovery is there. Before this year, it was a common understanding or myth that china has monopoly over bitcoin or at least they were manipulating the bitcoin price. When china govt imposed restrictions on these big bitcoin in china, trading of bitcoin almost halted in China. But that did not hampered the bitcoin price movement. In fact bitcoin scaled new height, new all time high. Didn't it?  Now it is pretty much clear that bitcoin is standing on its own. The main threat or sign of danger for chinese govt was money laundering and easy escape of their currency outlet via bitcoin through these exchanges. problem was not with mining bitcoin. Nonetheless thing remained normal for bitcoin back then and will remain normal in future as well.

[YTBitcoin]

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.

These are things which will keep on happening in the future as well. These things will have negative effect on the reputation of bitcoin but these are things which need to be dealt very much carefully. There is no way that this act is good for the reputation of bitcoin. The thing is we need to remain calm at the time when the prices are falling down in order to save yourself from any kind of loss.

[plaintiff77]

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.

i agree that banning bitcoin in china isnt a good idea. i believe there is a big community of people using bitcoin in china so if its already banned then community who used bitcoin will be decreased as well. i know there will be more chinese citizen to be interested in using it.

[sapnu]

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

For me, it is bad. China is a big loss because it is one of the biggest Bitcoin investor. It could have help to make the market value of Bitcoin more. Fortunately, Bitcoin is able to make its way back to 4000$ after the backdrop resulted when China banned ICOs and exchanges. Hoping that the increase on its value will continue for the next years to come. Bitcoin still, without China, can be a successful cryptocurrency but it is just that China is still a loss for this growing community.

[hachiman13]

Somehow it is good because the price will go down and small time investors would have the chance to buy bitcoins at a low price. It is also an important phase on the history of bitcoin to prove that it can survive without china (although it can't reach its maximum potential without its help)

[connesa]

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.

china is a communist country...they are strict interms of government law,one of the reasons why they ban exchanges is because btc can easily use to buy drugs in deep web.mainly reason is the tax.most tycoons use only btc to transact nowadays and dont pay their taxes.this is all the reason why the banning take over.anyways they forgot btc is widely open in macau and hongkong.so people can just go there.