China banning bitcoin exchages, good or bad?

[Red Fish]

This can make Bitcoin price lower, because China have many BTC mining pools, plus China is large country by itself. Chinese people can change Bitcoins via other bitcoin exchanges, but China have own restrictions, so may be it is not possible. 

[Biggapp]

it seems that china only tires in only a few places where the exchange of cryptocurrency because indicated money laundering while in china is still very much a place to exchange cryptocurrency.

In my opinion, China is doing this just to keep its people away from investing in the market of uncertainty. Besides, investment in gold and silver has also been appreciated. But there are also few companies which give part of their salaries to their employees in the form of Bitcoin so having said that, China is only trying to keep the technology limited and let only a few people use it.

[Ekimzjames20]

it seems that china only tires in only a few places where the exchange of cryptocurrency because indicated money laundering while in china is still very much a place to exchange cryptocurrency.

In my opinion, China is doing this just to keep its people away from investing in the market of uncertainty. Besides, investment in gold and silver has also been appreciated. But there are also few companies which give part of their salaries to their employees in the form of Bitcoin so having said that, China is only trying to keep the technology limited and let only a few people use it.

I think on that time there is an effect but not now because bitcoin now is going up. Althrough china is  almost 2 billion population but in this time bitcoin skatered all over the world and many investors. So at this time there is no effect yet.

[maitexisi]

This is not the first time China has banned the use of bitcoin. The ban will only affect the price of the currency for some time, because it causes panic, but it only takes time. I've heard good information that China will soon open up and legalize bitcoin trading again.

[Kodok Bencot]

Certainly bad news, China is the country's largest users of cryptocurrencies so if the Chinese government banned bitcoin, exchanges and ICO it will have a major impact on the declining number of users.

[Ambrosius]

Of course it will adversely affect the value of bitcoin. In China there are 2 biggest markets bitcoin, ban and closing it makes the user can no longer use bitcoin. It causes the number of users to decrease and affect the value of bitcoin which also decreased.

[Emprmanite]

The Asian market is too large for Bitcoin to just fail in Asia especially since the Asian markets have such a large impact on the flow of Bitcoin along with other Altcoins. While China is attempting to totally ban Crypto exchange and totally stop mining because of cautionary tales such as the city of Shenzhen feeling the effect of mining pollution, their Asian counterparts Japan are allowing their one of their biggest financial service agents to move forward with plans to open a Crypto exchange in the near future and people in china are still within the trade of Crypto through other means than exchanges. There is a lot of FUD in the Chinese region about Crypto but that looks to be mainly in terms of environmental issues and security issues but that will soon become a moot point with the progression to Proof Of Stake models such as Proof of Ambassador in projects like Bitcoin Origin involving no physical mining at all.

https://cointelegraph.com/news/japans-financial-services-giant-sbi-launches-crypto-exchange

[FaitheLeaanAn]

Obviously it loses value with a smaller community.

[Kakawate]

In my opinion, anything that relates to banning bitcoin has a bad effect to the cryptoworld, but it might hasve some good effects as well. I believe these banning of cryptocurrencies in some countries only means that the cryptoworld is gradually taking over the fiat system and that is a good thing for the cryptocommunity.

[LongerBitcoin]

This a story from a long time ago. But whenever a country ban crypto currency, then the people of that country will immedietly sell off thier holdings increasing the supply of coins in the market and plummeting the price in effect. That is always a bad news for all of us. But I'm pretty sure people will pick it up since it's so cheap.

Even the china will ban bitcoins in their country still I think that people there will hold BTCs there because if the government is unaware about the fame and popularity of BTCs, I am sure the people wouldn’t act like that because they know about a well and secure future of BTCs ahead. And if they become panic and sell out their BTCs, I know people all over the world would instantly buy them.

[EnricoGomez]

Of course you can say that banning of bitcoin of China can have a negative effect on the value of bitcoin. A great percentage of the users of bitcoin is from China as it is a big and populous area and banning it can ultimately reduce it.
Not to mention that the news of banning may influence other people's opinion about bitcoin negatively, it can be a trigger for other governments on succession.

[Marium Diaz]

It's was bad  because the price took a tumble and it's good for traders and those that  were intending to buy because it was cheap. It's also good because Bitcoin has proven again that it can be resilient eve against the dominant Chinese miners and market.

[nur rochid]

Of course you can say that banning of bitcoin of China can have a negative effect on the value of bitcoin. A great percentage of the users of bitcoin is from China as it is a big and populous area and banning it can ultimately reduce it.
Not to mention that the news of banning may influence other people's opinion about bitcoin negatively, it can be a trigger for other governments on succession.

we know that in china many big investors are staying, so this is very detrimental to bitcoin to continue its development. and that may be one of the factors falling btc prices to date. although we know that china has a plan behind it all

[Angi]

I think its a negative way that china was banning crypto because china has a big popularity of bitcoiner's or using crypto as I saw they started banning crypto the value of bitcoin and altcoins is dropping so its a bad thing for us.

[jeluhtajem]

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.

[tdtduy]

I do not think that's a good news. It's probably a bad news because this is a negative news that negatively affects the growth of e-currencies in the Cryptocurrency market. It will directly affect Bitcoin and indirectly to other electronic currencies. China is a very good trading market for investors. The ban from China is always worrying and confusing to investors.

[jademacoy]

Well china now adapting cryptocurrency and that is the best thing that happen because we expect that there will be a good increase on its market price of the cyrpto in the market with the participation of the chinese people this could add a lively market to cryptocurrency. As we all know that the chinese do love cryptocurrency and CHina is one of the countries in the asia with a large consumer on cryptocurrency.

[tdtduy]

I think its a negative way that china was banning crypto because china has a big popularity of bitcoiner's or using crypto as I saw they started banning crypto the value of bitcoin and altcoins is dropping so its a bad thing for us.

I agree with you. Although China has issued a ban on Bitcoin in the country. But the ban on Bitcoin-related transactions will adversely affect non-Chinese nationals living and working in the country. It makes it difficult to use the property of a citizen in another country. And the Chinese market always has a great impact on world trade.

[furkantugra]

After a ban or regulation at that time, has triggered a massive panic sale in China, inevitably the value of bitcoin also experienced a very sharp decline. For us, this tragedy is a heartbreaking story that I may never forget forever.

[slackcryptoz]

After a ban or regulation at that time, has triggered a massive panic sale in China, inevitably the value of bitcoin also experienced a very sharp decline. For us, this tragedy is a heartbreaking story that I may never forget forever.

Those happened long back when the price was plunging towards the peak. Now quite often they were making regulations to make everything functional in an orderly manner. When China imposed ban upon exchanges the impact upon the price got affected, but didn't last long as the exchanges started to function with base on other countries.