China banning bitcoin exchages, good or bad?

[loopes]

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)

you can see it from buyers of bitcoin viewpoint. but for bitcoin holders it is very bad that they will lose if panic selling happen because of that bad news.
so it depends on from we see this case through. actually when holders also follow the flow to panic selling they still have potential to reduce their lose or even get more profits. because after panic selling they buy back at the lowest level of bitcoin then wait again for increasing price.

[Yakamoto]

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)

you can see it from buyers of bitcoin viewpoint. but for bitcoin holders it is very bad that they will lose if panic selling happen because of that bad news.
so it depends on from we see this case through. actually when holders also follow the flow to panic selling they still have potential to reduce their lose or even get more profits. because after panic selling they buy back at the lowest level of bitcoin then wait again for increasing price.

One man's trash is another man's treasure. Same goes for trading. Negative news is good for the bears and those who wanted to get into the market in the first place, positive news is great for those who have a stake in the item or asset and have something to gain off of it. Bears don't want to have short positions open during rallies, and bulls don't want to have longs during slides. I personally just exploit the market however I can when I am trading, and everything after that is inconsequential to me. I don't care about any of those events once I have closed positions and I'm just waiting on the market.

[loreykyutt05]

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)

yup I agree those things has really affected the price of bitcoin to go down but it somehow let us to invest and buy some bitcoins , I think china banning bitcoin exchanges is a great lost to the whole community especially to the investors but I think this will pass too just like the others and the price of bitcoin will be stable again will continue to rise

[fiulpro]

  If I remember correctly China already did that on September 18 , also according to the latest news ..China is likely to remove the ban !
If that happens 😁✌ the rate of bitcoins will sky rocket.
So I don't think there is much to worry about right now... Because this news itself is quite old and the bitcoin market has already recovered from this.and.. Nothing is gonna happen now..
Anyways I might be wrong 🙂
Pardon me If I am...

[michellee]

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)

yup I agree those things has really affected the price of bitcoin to go down but it somehow let us to invest and buy some bitcoins , I think china banning bitcoin exchanges is a great lost to the whole community especially to the investors but I think this will pass too just like the others and the price of bitcoin will be stable again will continue to rise

I think Chinese people is lost their opportunity to continue making money from bitcoin because of banning bitcoin exchanges but like you said, we can take this opportunity to buy bitcoin again. because once they are banning, it will affect the price to go down and we can add more bitcoin to our wallet. and now the price is start to increase again and I wish there are no other bad news happen that will cause the price is down again because we are begin to see the end of this month for another fork.

[YTBitcoin]

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)

yup I agree those things has really affected the price of bitcoin to go down but it somehow let us to invest and buy some bitcoins , I think china banning bitcoin exchanges is a great lost to the whole community especially to the investors but I think this will pass too just like the others and the price of bitcoin will be stable again will continue to rise

I think Chinese people is lost their opportunity to continue making money from bitcoin because of banning bitcoin exchanges but like you said, we can take this opportunity to buy bitcoin again. because once they are banning, it will affect the price to go down and we can add more bitcoin to our wallet. and now the price is start to increase again and I wish there are no other bad news happen that will cause the price is down again because we are begin to see the end of this month for another fork.

China did wrong to itself and they will suffer in future in this stupid decision as bitcoin is stabling itself and recovering back to the prices but the Chinese are now cut off from making profit and the main thing is they kicked the future coin out from their country and development and profit also comes out with it and m sure their people are cursing their government on this decision.

[PacePay]

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

Bad time has gone and what china did to the bitcoin was a terrible thing and bitcoin survives easily in that critical time and as prices are now going up again nobody care about china more and the decision they made about the banning will lead them to lag in the development and technology bitcoin is economy booster and YUAN will not give that much boost as bitcoin give.

[Hotel_Prodeo]

After more than 2 weeks the issue seems to have no impact whatsoever even though the Chinese government banned exchanges and bitcoin, the price will continue to skyrocket and can not go down again as happened 3 weeks ago.

[joshki]

After more than 2 weeks the issue seems to have no impact whatsoever even though the Chinese government banned exchanges and bitcoin, the price will continue to skyrocket and can not go down again as happened 3 weeks ago.

Things rise and fall...  There's no real way to predict that, or to predict future actions by China or their impacts.

[HasHe]

China's actions against bitcoin definitely had a negative impact on bitcoin's price temporarily.But soon,it recovered due to huge buy wall.Now,bitcoin's price has risen from $3,000 to almost $4,334 now.It clearly shows that china's policies regarding bitcoin would no more have any impact on bitcoin price.

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.

Also,due to china's actions against bitcoin,we would be here after free from china's dominance over bitcoin market which is good for progress of bitcoin in a long run.

[haroldtee]

bitcoin's price has risen from $3,000 to almost $4,334 now.It clearly shows that china's policies regarding bitcoin would no more have any impact on bitcoin price.

I will like to quickly correct you incase you haven't been following the charts, as at now when I am typing this, the value if bitcoin is $4790 and it is still increasing.
Back to your view, you are very right and I just feel the shutting down of bitcoin exchange by China only proved one thing! The strength of the community which cannot be broken. Even China already know that by now that bitcoin cannot be stopped.

[ngocbkcse]

After more than 2 weeks the issue seems to have no impact whatsoever even though the Chinese government banned exchanges and bitcoin, the price will continue to skyrocket and can not go down again as happened 3 weeks ago.

Things rise and fall...  There's no real way to predict that, or to predict future actions by China or their impacts.

It have both good and bad when china ban. It's bad because China accepts bitcoin probably had more than doubled in value . It's good because bitcoin's future isn't heavily dependent on China where loves to have absolute control over their people. But no worries, bitcoin will explode in price, because of reduced supply.

[Sled]

After more than 2 weeks the issue seems to have no impact whatsoever even though the Chinese government banned exchanges and bitcoin, the price will continue to skyrocket and can not go down again as happened 3 weeks ago.

Things rise and fall...  There's no real way to predict that, or to predict future actions by China or their impacts.

It have both good and bad when china ban. It's bad because China accepts bitcoin probably had more than doubled in value . It's good because bitcoin's future isn't heavily dependent on China where loves to have absolute control over their people. But no worries, bitcoin will explode in price, because of reduced supply.

There is no reduced supply as far as i know. China banned bitcoin and it doesn't reduced the supply of bitcoin and the china only get rid of bitcoin to their country and that is a good side for us because the market cannot be manipulated by the chinese people anymore and it will be equal for the market to have its own movement based on the equalized demand from different countries.

[Monnt]

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.

It is a very big market and if China decides to ban local exchange, that would not still stop even the operation of bitcoin in China and traders will always look for other means.

[suvo05]

If we can delete the two week of the Chinese drama ,from the calendar then nothing has changed. It did not effect the people who holds bitcoin still now. It is just bad for the chinese people and those who have panicked and sold their bitcoin in low price. And good for those people who took the risk and brought bitcoin at 3000$. And for rest of all it is neutral.

[r1nd3m1r4]

I think with china prohibiting ICO in their country it has become a thing that makes bitcoin had fallen even though eventually the issue did not make bitcoin die and the price back to normal

[Osarman]

It is not a big deal for the long term! I think it is a good measure to crack the scams OCO although there are some genuine ICO. As the adoption is increasing, many people realise the advantages of btc. It is hard to say what will happen with the policy.

I think the Chinese decision about the banning of bitcoin exchange and trade was just for the time being. I am sure they will soon regularize bitcoin in China. I think they have banned bitcoin exchange because of the legal issues as they have banned it in 2013, but soon they reverse their decision and now once again they will do the same. But for this time the permission to trade in bitcoin will be forever.

[Charisse1229]

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

[Ngewex Yuk]

If china is not banned bitcoin i'm sure bitcoin price is past $ 10,000. but it does not matter because the 10k price will soon be reached even though there is no china.

[Awnar]

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.