China banning bitcoin exchages, good or bad?

[Babyhouse]

This could be a bad thing for cryprocurrency community. It's a huge loss of population.

[doraegun]

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 bad, that is of the one reason why bitcoin users decreased this 2019 because of that strict implementation to avoid using Bitcoin or specially to ban the exchanger which is needed by each user.

[walleconomy]

This, of course, had a negative effect on the cryptocurrency, but still there is an opinion that China will soon resolve the cryptocurrency in its country.

[buternasek]

I think this will not bring any impact, and this is proven because bitcoin users are so strong that the price is not on the floor. bitcoin users around the world including in china will keep bitcoin even though its government banned bitcoin.

[MakLampir]

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.

[tikanurqaidah]

what the Chinese government is doing is actually an effort to get the data to create the regulatory framework of the virtual currency industry. Bitcoin trend can not be dammed and in the near future China will withdraw the rules of banning crypto currency trading

[19Nov16]

China is the world's largest crypto user, and if they banned crypto exchanges then this is bad news, and the possibility of bitcoin price drops is due to the issue, I hope this is just a momentary panic.

[turagsoy123456]

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 doing bad thing in bitcoin since this is not the first time that china banned bitcoin in their country's. I think this is also the reason why bitcoin price in the market is very affected and suffering a bloodbath. because some of the investor's are getting race to be panic and sell their coins.

[weeklyeth]

china banning bitcoin exchangers is definitely nt a good step they are loosing cryptocurrency profits in their economy and innovation of blockchain as well

[iMark]

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.

Yeah of course the bad influence that will result when the regulation and ban is applied to bitcoin, and the restrictions imposed by the Chinese government some time ago did make the crypto world chaotic, the price constantly going down, and there was a great panic selling, could it be part of the manipulation? I don't know but banning is bad effect

[tuikindu]

I think it was a very good thing that China banned bitcoin last year, otherwise the price of bitcoin would not have gone up to $20,000. So we don't see the bad side of anything.

[blogardianz]

I think the Chinese people will not be affected by the news.
I'm sure they will find ways to access or trade Cryptocurrency. Whatever the risk.

[Bitexpert2017]

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.

[gowobonyok]

actually I personally feel it is a bad thing because it can affect other countries about their views on bitcoin and crypto. but it only happens in China and they reasoned it was just setting the regulation about crypto.

[Sled]

I think the Chinese people will not be affected by the news.
I'm sure they will find ways to access or trade Cryptocurrency. Whatever the risk.

I agree to that because if some of the chinese people in China are really into cryptocurrency then they will move to another country which they can access bitcoin like in the singapore that they can move their and start their new life there and still access and have a connection to the cryptocurrency to continue their living.

[liuziwenfree]

I think it is a bad thing. China has a large population and the Chinese people have money!
Adding them to the world of cryptocurrencies will make cryptocurrencies go up!
Their withdrawal will lead to the market's depression!

[Gheka]

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.

Yeah of course the bad influence that will result when the regulation and ban is applied to bitcoin, and the restrictions imposed by the Chinese government some time ago did make the crypto world chaotic, the price constantly going down, and there was a great panic selling, could it be part of the manipulation? I don't know but banning is bad effect

The bad effect is of course when this ban comes, activities in the bitcoin of so many people have been unable to perform, especially the miners, China owns a very large number of miners, if they only exploit but they are not allowed to trade, that would be a terrible thing. However, we should also look more deeply the problem, it also has good effects, which is that China will not be able to manipulate the market and make a big impact on the market, many people will be more comfortable in trading, and this news can also be considered advertising for bitcoin, helping to spread bitcoin

[bitllionaire]

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.

In very beginning it surprise us too much, because at that time Chines were the most contributer in bitcoin. Still i think that chines are contribution a lot, still i am hopeful that they will revise their decision and like japan they will also make bitcoin as legal currency, because bitcoin is the need of the modern time and in modern time its use will increase more and more.

[Bakemat]

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.

China is banned icos last year and that is the reason why the market prices is down for a few months but still bitcoins managed to reach $19k dollar before the year ends, so we should hold our coins today since cryptocurrency is expected to grow just like what happened last year.

[gaxfrwpy]

The Chinese government banned local bitcoin exchanges in September last year. But the latest data is that the number of Chinese users on the stock exchange is increasing. I think the prohibition decision is not very effective.