China banning bitcoin exchages, good or bad?

[hagiyatmaz]

governments do not want to see competing currencies. They threaten their monopoly to create money and control the financial system and the economy.Actually, the reason China is the first big government to take such action isn’t an accident. China more than any other country wants to have firm control of its banking system, and allocate credit according to a political agenda. This means that a competing currency like the Bitcoin would threaten its political system. Why not crush it sooner than later?

[miltonpogi]

In my opinion I will say that this decision is good for China, because there are many strong banks in their country an if they let bitcoin to become legal in their side, most of their banks will weaken. It is bad for crypto world , because the demand of bitcoin will decrease and if this happen its value also will decrease too, but suddenly I think bitcoin will rise again due to its uprising popularity around the world.

[_noname_]

Truly, who is extremely fretted over China now at any rate? Whatever they anticipate doing with their life and their nation is extremely nobody's business and I am even certain the subjects know not to simply take in everything that the administrations toss at them as they are some truly shrewd individuals. This is a worldwide thing and bitcoin is continually going to continue doing great as it is doing now without China.

[alfs75]

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

Actually in my own knowing thats only ICO in some foreign country is there target to not operate in there own homeland because they want to make there own coins in there country,thats why i didn't know that they also include to banned there own local exchange,and i thinks this happen now would affect  bad this into there economic growth,because mostly chinese people are bitcoin miners,so how to change there cryptocurrency coins into fiat if they used it for there basic needs,because as of now  there local exchanges is been affected of there government banned  they implemented.

[MuffinMaster]

I don't think that we need to be suprised cause they were doing that, they are and they will do and only thing that we could think about it is that that it haven't got special meaning if we talk about whole crypto market.

[selawase]

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's a Chinese way of influencing bitcoin prices from weak hands, those who are weak will surely panic and sell it, and it is in use china buy cheaply.

[As roma]

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

According to my observations that is bad news because many people from China are investing in large quantities. with the ban it may be the amount of investment will decrease. Because china is the largest bitcoin user in the world so when they are banned it will certainly have a very big impact too for bitcoin prices.
  China is a huge cryptocurrency market. Their Bitcoin exchange ban will definitely have a negative impact on the market in that country. Most likely the market will be affected by a relatively large impact.

[Vaskiy]

China being one among the largest market for Cryptocurrency banning an exchange is simply the worst decision. The thread was a long back one, and by those day Chinese government was making inspection upon different exchanges and this doesn't mean to be a ban.

[Baronggot]

I am not really surprised anymore if crypto exchanges are banned in China - be it bad or good, i don't really care at all because it's been a long time already since they have declared total ban about cryptocurrencies that even affects the bitcoin's market cap and price last year.

[Bonsaiav]

In fact it does happen in line with the date listed on your link. At that time the Chinese population was the largest bitcoin user, with the prohibition of local bitcoin exchanges, it is certain that the decline occurred, resulting in massive sales, when the bitcoin had dropped.

[BTCappu]

China being one among the largest market for Cryptocurrency banning an exchange is simply the worst decision. The thread was a long back one, and by those day Chinese government was making inspection upon different exchanges and this doesn't mean to be a ban.

Maybe it is or maybe it is not. But from what I know, the price of Bitcoin started going up when Bitcoin was banned from China and lots of countries even picked up and started investing heavily, just like Japan and Russia (I believe the U.S are doing the same too.) so I don’t think it is having any negative impact or influence on Bitcoin. The price even continues to go further and lots of predictions have been made that it will cross the $19k of last year (2017)

[7Dyoknga5]

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 was only debated as a rumor, some say that a lot of Chinese hold a big amount of bitcoin or they monopolize the the market.

Fact or not, we all know that China could be a big factor into bitcoin's price increase. The srategies of producers of hollywood movies targets China as it helps their gross income increase.

[Pinoyfan]

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 that is bad for their citizen cause you know that many Chinese citizens are depending on bitcoin. people nowadays will look for their own source of money thats what we call business and entrepreneurship we see thing so different the other one sees the positive way to earn money and the one is see scamming things

[tranduc2101]

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 is a country with so many bad rumors that Bitcoin prices and the electronic money market have fallen. But I know that China today has created so many pennies and they have huge exchanges

[squog]

This is an old news but sad nonetheless. China has a huge number of people in crypto currency. Banning it just means that they will have to liquidate all their holdings and make the price plummet dor all of us. I just hope that more and more countries accept crypto currencies.

[kidamazo]

I think everything that China is doing affects us and crypto in general, because China is a superpower country with 2 billions of people already!

[Twentyonepaylots]

There are no sources and the are no announcements from the government yet. If this happen to be true though, I don't expect the exchanges to announce it. They'd probably just try to find a way to escape with the money. With many Chinese getting livid and asking the government to do something. Which is why I think the government wouldn't do it. They already have the power to halt activities in the exchanges if they see fit, no need to just shut them all down.

China Banned Bitcoin or digital currency transaction is now in the past, yes, it had a effects on the Bitcoin price at the time but not now, the global acceptance of Bitcoin is increasing above normal level, the fundamental are now good, with more participation of investment, the price value now is stable, it may goes up and goes down yet it remains on the favorable level, the level of confidence on Bitcoin market trading now enjoying with favorable status on the market treed. A lot more Bitcoin possible investors who are just wait for the timing to get involved into the crypto market trading, I am more optimistic that Bitcoin or digital crypto currency transaction will continue in the future of market trading.

[Lorence.xD]

There are no sources and the are no announcements from the government yet. If this happen to be true though, I don't expect the exchanges to announce it. They'd probably just try to find a way to escape with the money. With many Chinese getting livid and asking the government to do something. Which is why I think the government wouldn't do it. They already have the power to halt activities in the exchanges if they see fit, no need to just shut them all down.

Bitcoin banned in China is now a history on growing popularity of this coin, yes, it was reported on the social network but the good think the crypto currency trading market had no reaction on the said news, with the global acceptance of Bitcoin or the more participated digital transaction on the treed, the fundamental are good, new project investor are just waiting to actively participate in the crypto market trading, this are all good indicator that Bitcoin is more stable and favorable to the Bitcoin investors. the level of confidence  are increasing does the level of awareness about Digital crypto currency transaction.

[Wong Goblog]

Of course this is bad news, we all know that china is the biggest bitcoin and cryptocurrencies user so if china banned exchanges government it will affect the user who run from cryptocurrencies.

[xvids]

It would be a bad news because we would lose some investors from that country,
And if we lose investors that would decrease the demand and the price would drop down too.