China banning bitcoin exchages, good or bad?

[shesheboy]

We know that most Bitcoin investors are from China, they are holding a large number of bitcoin and if they will ban even the exchange of course it has an effect but over all we can still recover just like what happened now still the bitcoin continue to rise although a lot of countries ban bitcoin. Any thoughts?

Yes thats true , china is a large country and most people living on that country are business men or business minded . no wonder that china have also got the most crypto users but i dont believe on this news .

why would they ban crypto exchanges if they are using a crypto ? Maybe they only ban bad exchange or the scammy ones but other legit exchange like binance and bittrex are not .

Banning some are not bad and it does not affect the crypto market .

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[hungsanh2512]

For a reason, China governments do not want to see competing currencies. They threaten their monopoly to create money and control the financial system and the economy.

[trauchot]

This is of course very bad, but as we see, many chinese people continue to use exchangers through various possible ways to bypass the ban, so it's okay if someone wants to work there with cryptocurrency, anyone will find a way to bypass prohibitions. Perhaps in the future, the Chinese government will change its mind and again will allow the use bitcoin exchanges.

[Wodomi]

I do not see anything good in it. Yes, this ban affected the cryptocurrency prices and they started to fall. I do not think that we will see Bitcoin for 20K very soon.

For me it's bad news. But I am convinced that China bans bitcoin with the aim of creating its own cryptocurrency to be used in China. China as a developed country always has a breakthrough that protects its own citizens, because they believe in any case China will have a large market, with a population of 1.3 billion people.