BTC China closing down. End of bitcoin in China?

[AGD]

Decentralized exchange: https://bisq.network/

[TravelMug]

I'm hearing that China is shutting down all exchanges in its country by September 30 but when I fact-check the source I only found an article that says BTCC exchange is voluntarily closing registrations.  What is actually going on?  Is my source just regurgitating fud? 

Either way I think this could be a very good buying point.  If you're in this for the long-run, don't change a thing.  Just hodl even if it dumps to $1,500 because it WILL eventually recover with a bang and you don't want to miss out.

Of course this is a good buying point for everyone. But I guess some of the investors are really afraid to go enter the market because a lot of news coming from China is making them nervous. Yes, if you are in for the long haul its better to hold. For me the price is still good though and even if we go to $3000. Everyone who is really for the long term have seen and should not be shaken. I'm seeing that bitcoin can recover from all of this negativity and bloodbath.

[MiBambino]

Decentralized exchange: https://bisq.network/

This is what we need for the chinese people

[Reid]

Here is the news:
https://www.reuters.com/article/us-china-bitcoin-btcc/bitcoin-exchange-btcchina-to-stop-trading-from-sept-30-idUSKCN1BP1J8

BTCChina, which also runs an international exchange out of Hong Kong, also said on its official microblog that it would stop registration of new users from Thursday.
China has boomed as a cryptocurrency trading venue in recent years as its domestic exchanges had previously allowed users to conduct trades for free, attracting investors and speculators who boosted demand.

So, is this the beginning of the end of the so called chinese boom ?

I think we're in for a very long bear market. The Chinese can't stop cryptocurrency forever, but they can slow it down, and they will. The Chinese have never been fond of things they can't control. They do everything in their power to get the biggest piece of the pie they can possibly get, so if that means closing down their exchanges and banning ICO's, they will.

Looking at the future I'd say it looks really bright. Once the governments figure out how they can benefit from this market, they'll allow it again. I predict we'll end 2018 at a 250 billion dollar marketcap.

I do agree with that fact that they want everything under their own control. Perhaps before they have been looking for a way to do that and up until now they cant find one and just given up with it. So this is PLAN B for them. Just take it out of their country cause they cannot get something out of it.

[nickfury]

The news put out seems to disadvantage for BTC. The market is going down, i don't know this situation will last for how long? I still keep faith with BTC but when prices fall below $ 3500 I was really worried. Cryptocurrency community can rescue the market, while China is the dominant guy BTC

[KingdomHearts]

I think these are temporary problems knitted with a lack of regulation.

Don’t think so because China itself has a huge number of bitcoin users who daily uses their bitcoins for trading, investment and sale/purchase of online products. Apparently it seems to be happening but it is not as it seems, all the state holders of China has also many investments in bitcoins, so it is impossible for them to completely ban bitcoins.

[pureclckr]

Here is the news:
https://www.reuters.com/article/us-china-bitcoin-btcc/bitcoin-exchange-btcchina-to-stop-trading-from-sept-30-idUSKCN1BP1J8

BTCChina, which also runs an international exchange out of Hong Kong, also said on its official microblog that it would stop registration of new users from Thursday.
China has boomed as a cryptocurrency trading venue in recent years as its domestic exchanges had previously allowed users to conduct trades for free, attracting investors and speculators who boosted demand.

So, is this the beginning of the end of the so called chinese boom ?

I think we're in for a very long bear market. The Chinese can't stop cryptocurrency forever, but they can slow it down, and they will. The Chinese have never been fond of things they can't control. They do everything in their power to get the biggest piece of the pie they can possibly get, so if that means closing down their exchanges and banning ICO's, they will.

Looking at the future I'd say it looks really bright. Once the governments figure out how they can benefit from this market, they'll allow it again. I predict we'll end 2018 at a 250 billion dollar marketcap.

I do agree with that fact that they want everything under their own control. Perhaps before they have been looking for a way to do that and up until now they cant find one and just given up with it. So this is PLAN B for them. Just take it out of their country cause they cannot get something out of it.

The decision made by Chinese is just a nonsense decision and they are neglecting the Importance of the most profitable coin of the world and they should accept this because this will also gave boost to their economy and the bitcoin business will grow in china faster if the biggest country will accept it than other countries will also join the lane of profit and business. They will allow it again when they will see that it’s not working for them.

[yaunzunsha]

In China, all things that can not be controlled will be blocked

[MiBambino]

Here is the news:
https://www.reuters.com/article/us-china-bitcoin-btcc/bitcoin-exchange-btcchina-to-stop-trading-from-sept-30-idUSKCN1BP1J8

BTCChina, which also runs an international exchange out of Hong Kong, also said on its official microblog that it would stop registration of new users from Thursday.
China has boomed as a cryptocurrency trading venue in recent years as its domestic exchanges had previously allowed users to conduct trades for free, attracting investors and speculators who boosted demand.

So, is this the beginning of the end of the so called chinese boom ?

I think we're in for a very long bear market. The Chinese can't stop cryptocurrency forever, but they can slow it down, and they will. The Chinese have never been fond of things they can't control. They do everything in their power to get the biggest piece of the pie they can possibly get, so if that means closing down their exchanges and banning ICO's, they will.

Looking at the future I'd say it looks really bright. Once the governments figure out how they can benefit from this market, they'll allow it again. I predict we'll end 2018 at a 250 billion dollar marketcap.

I do agree with that fact that they want everything under their own control. Perhaps before they have been looking for a way to do that and up until now they cant find one and just given up with it. So this is PLAN B for them. Just take it out of their country cause they cannot get something out of it.

The decision made by Chinese is just a nonsense decision and they are neglecting the Importance of the most profitable coin of the world and they should accept this because this will also gave boost to their economy and the bitcoin business will grow in china faster if the biggest country will accept it than other countries will also join the lane of profit and business. They will allow it again when they will see that it’s not working for them.

It's possible they'll legalize ICO's on october 18th, and this was all just a farce to drop the prices and buy in cheaper

[dasdo]

They have already published the news that on October 18 there will be an abolition of restrictions and so on. In general, this is all a temporary phenomenon that was very obvious. Do not believe everything that is written in the news and is spoken on TV. Always under the news there is a hidden meaning.

[farhaan]

Miners and pools are not affected. BTCC pool will operate.

I think all drops priced-inn allready. I dont expect further drops if offcourse someone willing to shake the boat further.


Also when exchange will be closed localbitcoins in China will be the most popular choice. How big will be price there 5500$ for 1 BTC?

Bad days coming really for bitcoin holders in china.What a dramatic change within few days.Once,chinese enjoyed more profits from bitcoin by dumping their bitcoins,creating fake trade volumes in exchanges.

I think even if china allows exchanges to work once again,still chinese would not be enjoying benefits as they had before.Bitcoin price has already faced china's impact and now,there would be no more price falls.Don't exactly whether china would allow localbitcoins to work freely or not.

[bitorama]

end of bitcoin in china but good beginning of bitcoin in japan

[MiBambino]

end of bitcoin in china but good beginning of bitcoin in japan

The ban is temporary, Bitcoin will be a major player in China next year, no doubt.

[eye-con]

end of bitcoin in china but good beginning of bitcoin in japan

sounds better right? its too funny how i see people's reaction about the declaration of china banning bitcoin on their country. im not gonna be surprised on the next they bitcoin will dump because of that. so better be ready to buy

[Hach]

I don't think it's the end and Bitcoin is recovering again. I heard that many exchange will be down next days but nothing is really done yet.

[daenarys_stormborn]

hopefully this is only temporary, and I hope people in the country have their own way to continue their work with bitcoin

[Netnox]

They have already published the news that on October 18 there will be an abolition of restrictions and so on.

Could you please give me a link for the same? I have checked the BTC China website, and I could not find any (unless the statement was posted only in Mandarin Chinese). There are issues ongoing with China. And we can't sweep them under the carpet.

[bitcoinvestor]

The only one reason why China govt shut down exchangers because bitcoin is a real threat to the regime. The regime can't control the people properties in cryptocurrencies. it is a fact in my opinion , it s not about scam or fake ICos, "Control the Citizen money". i I think Chinese who had been rich by cryptocurrencies will not keep silent, they will seek other ways to trade and to make money.

[rexona]

Here is the news:
https://www.reuters.com/article/us-china-bitcoin-btcc/bitcoin-exchange-btcchina-to-stop-trading-from-sept-30-idUSKCN1BP1J8

BTCChina, which also runs an international exchange out of Hong Kong, also said on its official microblog that it would stop registration of new users from Thursday.
China has boomed as a cryptocurrency trading venue in recent years as its domestic exchanges had previously allowed users to conduct trades for free, attracting investors and speculators who boosted demand.

So, is this the beginning of the end of the so called chinese boom ?

china makes a lot of rumors, too confident china will decrease the value of bitcoin. I'm sure china will not really be out on bitcoin. let's see what will china do again.

[sakkosekk]

China is really a country that has a great influence on Bitcoin and the pre-coding industry
Nothing is impossible, believe it, there is faith
China will not be able to stop the development of bitcoin