China to Shut Bitcoin Exchanges - winter is coming

[mjsocool]

just see this article on the wall street journal
https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862
  is this bad for us

[mrayazgul]

just see this article on the wall street journal
https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862
  is this bad for us

The news is surely bad for bitcoins but then bitcoin is not a currency of china and also bitcoin is not only used in china. Even if china backs out of bitcoin, it will still be used and accepted everywhere, so we should not panic on hearing such news. There are also lot of positive news about bitcoins which includes countries making bitcoin  legal, the high prices and more market cap. We should focus on these good and positive news and facts.

[Blitzboy]

It is just a rumor. Do not care about it. Just keep holding your bitcoin and crypto. Even if they shut down everything, bitcoin will still there and nothing can stop it from increasing. The effect after banning maybe strong. But bitcoin is stronger and it will recover after all. Bitcoin provides a lot of benefits to users and that is why there are always people using bitcoin

[bamboylee]

It is bad if it is real but bitcoin can recover from that. Even if Chinese exchanges shutdown, there are still other exchanges all around the world that can cover the gap the chinese exchanges will leave empty. The price may go down a bit but it will recover for sure.

[amacar2]

There is no any official announcement regarding this news and all media sites are just writing with only one chinese media site as reference. Also no any chinese exchange have heard any new directions or updates from their government including btcchaina they have already stated this here https://bitcointalk.org/index.php?topic=2161506.msg21641210#msg21641210

so right now this is just another fud to drive down the price so whales can buy some cheap coins.

[iram3130]

I don't think it's a good idea to go with the media. Most of the media houses are of politicians and show people what they want to show, so it's best to wait for an official statement rather than believing some news.

[TryNinja]

Great! More unnecessary FUD by the media. If we really think Bitcoin will ever become global, we should stop crying "Bitcoin is dead" whenever we hear something like "China is banning Bitcoin" again.

Not the first time China claimed to ban bitcoin: https://www.forbes.com/sites/kashmirhill/2013/12/06/bitcoin-in-china-the-fall-out-from-chinese-government-banning-real-world-use/#340c350e481a

More: https://www.reddit.com/r/Bitcoin/comments/6zddnk/psa_prices_up_significantly_on_chinese_exchanges/

[risatrakib]

That's really a bad news for the crypto world .. As a result of it btc price is down for now.. But this is for some days ..It will take some time to make btc market price rise again .. So we just need to be patience now .. Soon the btc will be rise again for sure 

[CoinSpeculator]

this news is not true and already old. some people want to create panic in this market and they did.

[bitjet]

Great! More unnecessary FUD by the media. If we really think Bitcoin will ever become global, we should stop crying "Bitcoin is dead" whenever we hear something like "China is banning Bitcoin" again.

Not the first time China claimed to ban bitcoin: https://www.forbes.com/sites/kashmirhill/2013/12/06/bitcoin-in-china-the-fall-out-from-chinese-government-banning-real-world-use/#340c350e481a

More: https://www.reddit.com/r/Bitcoin/comments/6zddnk/psa_prices_up_significantly_on_chinese_exchanges/

ya we dont need worry about bitcoin future or altcoin too. We can live without China. And for China people. I believe they have their own way to keep using crypto. No one can control it

[N@p$t3r]

just see this article on the wall street journal
https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862
  is this bad for us

It looks like China is cleaning out the garbage first before placing in the treasures. Based from what I read on twitter, China is only making sure that the ICOs and exchanges are complying to their RnLs... I guess this is just going to be the same with what had happened to ICOs. China will temporarily stop them to polish the rules. They just want to make sure that no monkey could steal their hard earned Yuans.

[uraharasan]

this news is not true and already old. some people want to create panic in this market and they did.

China is only temporarily banning ico in the country for the purposes of their country's regulation because it has not made regulations about the crypto currency.

[CAPT.DEADPOOL]

i was not ban the BTC exchanger to ban just the china ico ico because there are scams so those investors fear that they can invest in other ICO cleaning are just doing china they not allowed to ban the BTC exchanger

[iamTom123]

just see this article on the wall street journal
https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862
  is this bad for us

The news is surely bad for bitcoins but then bitcoin is not a currency of china and also bitcoin is not only used in china. Even if china backs out of bitcoin, it will still be used and accepted everywhere, so we should not panic on hearing such news. There are also lot of positive news about bitcoins which includes countries making bitcoin  legal, the high prices and more market cap. We should focus on these good and positive news and facts.

Reading through the news about the possibility of China not just banning ICOs but also Bitcoin exchanges, it can indeed be a bad news if this rumor can be true. But we have to also understand that China is not actually banning Bitcoin but just the operation of Bitcoin exchanges. In fact, they can allow over-the-counter and peer-to-peer Bitcoin transactions and admittedly they do not have that power to ban Bitcoin at all.

In other words, citizens in China can continue on holding and trading their Bitcoin but they can not anymore do it with the help of the local exchanges. And I am sure that as creative as the Chinese are, they can find different ways to continue dealing with Bitcoin sans the exchanges they used to deal with. In fact, LocalBitcoins is now having a surge of transactions due to some shift of volume to the said site.

[pawanjain]

It is just a rumor. Do not care about it. Just keep holding your bitcoin and crypto. Even if they shut down everything, bitcoin will still there and nothing can stop it from increasing. The effect after banning maybe strong. But bitcoin is stronger and it will recover after all. Bitcoin provides a lot of benefits to users and that is why there are always people using bitcoin

True mate. Agree to your statement. Earlier when I read this news I was literally shocked and the first thing I did was to check the price.
But the price didn't go down, it was moving at the same pace as before which was quite fishy because if China was to ban Bitcoin exchanges then there would have been a huge sell wall as China is a big contributor towards the adoption of bitcoin. So banning the exchanges would have just decreased Bitcoin's price drastically. Then I got to know it was just a rumor and no official statement had been passed towards the ban of bitcoin exchanges in China. I am sure these rumors are the reason why people are selling their bitcoins as we can see some significant dips in the charts.

[stunvn]

nah.

they will send their btc to foreign exchanges.

[Carlsen]

I have already read that the owners of some exchanges have already asked for a trading license in Hongkong.
Although Hongkong is part of China, they are an autonomous territiory as well.
It seems like the exchanges can keep on going if they have that license even if the central bank of China wants to shut them down.
Of course this is just a precaution because of all those rumors.
Maybe even just to calm the market down.

[foobarzoo]

Just minor bump in the road. In the long term, no effect whatsoever.

Decentralized exchanges are coming anyway.

[orions.belt19]

Recently, a lot of various rumors and hoaxes have been spreading ever since China has announced the ICO ban. Some have panicked and spread out erroneous information because of misconceptions on the ICO ban. Along with this came a lot of false news making it hard to believe everything you read nowadays.

If the article you cited were to be true, it would be bad and inconvenient for the bitcoin users in China. From my understanding, China is a massive user of Bitcoin and also they recognized the use of Bitcoin as legal. It's a wonder as to why they would ban the exchanges given these circumstances and situation in their country. It is possible that news like this is only made to create a price drop and to scare some people, leading to unnecessary fear and panic.

[trecore4]

Yeah winter is coming and consider this as Christmas gift for us. Off course ban if bitcoin exchanges by china is good thing because frauds are no more into bitcoin industry. I don't trust the news completely as these are Chinese who have published it in their country but they are use to it and will get the regulations changes again.


The impact won't be very high and though it affects the bitcoin in terms of prices then also bitcoin can survive the whole dam thing of banning. This is not related to china only but whole world which is fan of bitcoin. Bitcoin is not staying in the china neither it was created by them so it's completely fine with whatever things they do with bitcoin. We should keep our investment ongoing as that is the only way to earn profits. The china, well it's getting wild.