【2017-09-12】It Will Take Two or Three Years B4 all Chinese Exchanges Are Banned

[Simple8.1]

China Securities Journal and Caixin reported last weekend that regulatory agencies are likely to ban all digital currency exchanges, including leading bitcoin exchanges such as BTCChina, Huobi and OkCoin.
Both China Securities Journal and Caixin are credible news sources. China Securities Journal is a subsidiary of Xinhua News Agency, and one of its missions is to propagandize relevant policies and guidelines concerning economy, finance and securities.
The “mysterious” man mentioned in the news is probably a person who attended the panel discussion on how to impose regulation on the bitcoin economy held in Beijing last week. And the regulatory authority mentioned in the news is a special leading group set up ad hoc last year to manage and control Internet financial risks.
http://news.8btc.com/it-will-take-two-or-three-years-before-all-exchanges-are-shut-down-in-china

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[pitham1]

Forget the Chinese news journals, even mainstream world wide media reporting about a possible ban. When publications like Wall Street Journal and Bloomberg start talking about a ban, you have to take them seriously. I am not sure if the Chinese government will achieve its objectives, but it does seem to be trying to crush Bitcoin. The ICO ban was just the first step in a series of efforts.

[Baofeng]

Forget the Chinese news journals, even mainstream world wide media reporting about a possible ban. When publications like Wall Street Journal and Bloomberg start talking about a ban, you have to take them seriously. I am not sure if the Chinese government will achieve its objectives, but it does seem to be trying to crush Bitcoin. The ICO ban was just the first step in a series of efforts.

But still the question is why now? But not when bitcoin has in still infancy? I think they are waging this war because they felt that the government are being threaten here. But if they really want to ban local exchanges then so be it. If I'm a Chinese trader I will be moving my funds by now. Maybe to Kraken or Polo as long as its not on the reach of the government. Just pretty sad to hear these news though as China has been the front of bitcoin mining, bitcoin trading in the last couple of years. But this is a perfect opportunity for other country to take the void that China would have left.

[TraderTimm]

Was it really so difficult to use "[" and "]" brackets?

Also, what is up with this "B4" garbage?

Idiocracy was a documentary, apparently.

[Taki]

Forget the Chinese news journals, even mainstream world wide media reporting about a possible ban. When publications like Wall Street Journal and Bloomberg start talking about a ban, you have to take them seriously. I am not sure if the Chinese government will achieve its objectives, but it does seem to be trying to crush Bitcoin. The ICO ban was just the first step in a series of efforts.

So banning of exchangers is just possible? I'm so confused about all this news, too many talks on the forum and natives are saying that they just don't care and plan to hold their founds in any case.

[Kprawn]

Forget the Chinese news journals, even mainstream world wide media reporting about a possible ban. When publications like Wall Street Journal and Bloomberg start talking about a ban, you have to take them seriously. I am not sure if the Chinese government will achieve its objectives, but it does seem to be trying to crush Bitcoin. The ICO ban was just the first step in a series of efforts.

So banning of exchangers is just possible? I'm so confused about all this news, too many talks on the forum and natives are saying that they just don't care and plan to hold their founds in any case.

They do this because they know "nobody" can confiscate your bitcoins. If you have sole possession of your private keys, you

can do with those bitcoins what you want. If those bitcoins are on some Bitcoin exchange, you will have some problems

getting it out, if a ban happens. The golden rule --> Do not store large amounts of bitcoins on third party services, where

you do not have access to the private keys. 

*Bloomberg is a joke.... they are part of the problem. 

[michkima]

I think the recent news are just plans to ban the bitcoin exchanges, there is nothing definitive yet. And we all know how long it takes before a law could be created and would take effect. But right now there is no bans yet so I think the fear happening right now is being taken advantage by the whales and they are buying cheap bitcoins right now.

[BitHodler]

Another article attempting to get the market to plummet (something that hasn't been successful at their first attempt). Markets will move past this nonsense without much problems after a while, and that's how it should be.

If this news was taken seriously by the major players in this market, we would have seen a massive crash taking the price down significantly lower than what we have seen ~ currently Chinese exchange rates hover around $4000.

If we look through all of this, then the correction and the China fud didn't have that much of an effect on the market, especially when you consider that the overall buy support is extremely thin ~ that's quite an achievement.

[Slow death]

China Securities Journal and Caixin reported last weekend that regulatory agencies are likely to ban all digital currency exchanges, including leading bitcoin exchanges such as BTCChina, Huobi and OkCoin.
Both China Securities Journal and Caixin are credible news sources. China Securities Journal is a subsidiary of Xinhua News Agency, and one of its missions is to propagandize relevant policies and guidelines concerning economy, finance and securities.
The “mysterious” man mentioned in the news is probably a person who attended the panel discussion on how to impose regulation on the bitcoin economy held in Beijing last week. And the regulatory authority mentioned in the news is a special leading group set up ad hoc last year to manage and control Internet financial risks.
http://news.8btc.com/it-will-take-two-or-three-years-before-all-exchanges-are-shut-down-in-china

I have said several times and I will repeat it again, China is doing its job if there were not many scammers who create ICO and steal millions of dollars from investors and if many exchanges were not accused of money laundering and volume manipulation, there would be no convincing argument for Chinese authorities to engage in ICO and exchange



" Looks like this time China finally banned Bitcoin exchanges. (Anonymous source I trust fully) There's only one response: JUST HODŁ "

https://twitter.com/SatoshiLite/status/907664619279343616/photo/1

[Kemarit]

Another article attempting to get the market to plummet (something that hasn't been successful at their first attempt). Markets will move past this nonsense without much problems after a while, and that's how it should be.

If this news was taken seriously by the major players in this market, we would have seen a massive crash taking the price down significantly lower than what we have seen ~ currently Chinese exchange rates hover around $4000.

If we look through all of this, then the correction and the China fud didn't have that much of an effect on the market, especially when you consider that the overall buy support is extremely thin ~ that's quite an achievement.

I agree with you. Bitcoin price is still trading above $4000, although we have another drop today. But I guess we have weathered the storm, and we could just see occasionally dump moving forward. Although I believe that there will negative news coming our way, I still believed that we withstand it and the more we move forward, the more the news will be irrelevant and totally forgotten. We already seen that we can go on without the Chinese, and if they voided something whether in mining capacity or investors, more are willing to replace them.