Guys, this time it's extremely serious!

[2double0]

Undoubtedly, the BTCChina news affected the markets and it was hit hard by investors who sold in pure panic.
But this is going very serious as after this, Litecoin creator Charlie Lee said in a reply to cnLedger's tweet that: "OKCoin and Huobi are meeting with regulators tomorrow. They might soon change their tune." - https://twitter.com/SatoshiLite/status/908375715279597570

It looks like China has taken its decision and is prepared to shut down these exchanges there. This may prove to be the toughest times in the history of Bitcoins and all this has endangered as well as challenged the existence of Bitcoins that whether a country's decision may ruin everything or not.

There's still a light of hope for everyone because the same guy, Lee said in his own tweet that: "This is a good thing. China can no longer play with the markets by banning Bitcoin. Crypto-currency cannot be killed by any country." - https://twitter.com/SatoshiLite/status/908379371571863553

Bitcoin still looks in a dilemma-tic situation here and the road upwards is looking hard if we consider charts which show that selling pressure has gone extremely high atm and control over buy side has been lost.

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[perryswoman]

So what is the possibility US bans it?

[leex1528]

Anything can change Bitcoin.  A single person who has a large enough influence can actually change the price of Bitcoin.  That really isn't the point though because if people keep using it and keep relying on it and people keep adapting and using it, it will remain.  I don't think China doing anything will effect the long term price of BTC.

[ahmad21]

It was really quite horrible to see bitcoin tumbling down today by such a huge margin. Its undoubtedly the biggest fall I've ever seen in the crypto market and undoubtedly all credit goes to China. But I think its just a beginning of a series of problems for bitcoin. China itself is a huge economy and if it has planned to ban btc exchanges many other countries too might be following the same path. If this happens it will be a serious setback to crypto market. It really does not matters  how much we boast about the thing that bitcoin cannot be regulated by any country at the end we have to obey the laws of our nation unless you are a ruthless hacker who can hide himself on this web. This is a serious time but I think things will become cool soon.

[Nathan Graves]

Thanks for sharing the information, but now it is a "sell the news" event, and it will probably not influence the price much more.
A lot of speculators was already aware of this... Although not official, Charlie Lee tweeted about it days ago.

[hubballi]

So it means that China have started to close the local exchanges and going to ban Bitcoin and its uses, if it is really matters about china then i think the price will be going back to low range.

[ROT13]

People like you are how people like me make money

[Nathan Graves]

The sad thing is that Chinese people themselves have more to lose with it. It is a very profitable market, generates jobs, and will only grow in the future.

[Golerm]

It's a good thing and a natural thing.

This stuff happens all the time with Bitcoin and seeing as how Bitcoin and most altcoins were overpriced they were due for a correction.

[ribowo76]

if in my opinion this might just be a surprise for a moment, because as we know china is one of the biggest bitcoin markets. I remain optimistic, sooner or later the market will return to normal  

[ebliever]

So what is the possibility US bans it?

There's absolutely nothing on the radar on that front, unless you have a very inflated opinion of Jamie Dimon's influence.

[Ucy]

Exactly. Am not at all worried by the bans. The price means nothing as long as Bitcoin does what it suppose to do.
The ban may force stakeholders to stick with decentralized exchange & find solutions to its problem rather than choosing government controlled ones.
You cannot continue to beg government to adopt Crypto. Government should be the ones begging.

[Shamie1002]

Yes, it is clear that China is the main cause of big dips and lowered prices.  Powerhouse, great number of traders and investors, that is how they are known in the field of bitcoin.
But I think it could lead to either success or failure of bitcoin in the future. I can see how China eliminated threats for bitcoins use. I definitely think that bitcoin will be taken seriously after this.

[adzino]

So it means that China have started to close the local exchanges and going to ban Bitcoin and its uses, if it is really matters about china then i think the price will be going back to low range.

The regulatory bodies of China are starting to ban local exchanges that offer trading services of crypto-currencies. This does not mean that they are banning bitcoin. Users in china can still use bitcoins as usual.  They can still buy bitcoins through other sources.

[Nasty23]

So it means that China have started to close the local exchanges and going to ban Bitcoin and its uses, if it is really matters about china then i think the price will be going back to low range.

The regulatory bodies of China are starting to ban local exchanges that offer trading services of crypto-currencies. This does not mean that they are banning bitcoin. Users in china can still use bitcoins as usual.  They can still buy bitcoins through other sources.

Yes they only banning local exchanger that can cause panic to some people because they think that bitcoin become to hard to exchange in Fiat if there are no open local exchanger in their country.

[goinmerry]

So be it as it will happened no matter what.

Price decrease will happened but it doesn't mean a crash. China exchanges plays big role on the price increase factor but we can move forward without them. I think investors there will surely continue to do trades on English exchanges because not all of them are favored to that regulations. Price increase will still happened. It just needs time.

[william8829]

So what is the possibility US bans it?

There's absolutely nothing on the radar on that front, unless you have a very inflated opinion of Jamie Dimon's influence.

Agreed.  The response of United States various governing bodies have been very positive.  Every new ruling towards regulation will strengthen BTC position as an alternative to fiat currency. It started in 2015 with New York Supreme Court and its Bitlicense ruling.  This summer the SEC  started regulating Cryptocurrency.   If your American your BTC are safe for the foreseeable future.

[Anrewbit]

"This is a good thing. China can no longer play with the markets by banning Bitcoin. Crypto-currency cannot be killed by any country."
 
I agree with this  but the only thing make me worried if the countries of the ( euro,Dollar,Yen,yuan) together start making a serious regulation for  bitcoin exchange . otherwise china banning it is like harvey & Irma whatever the crashing causes by the banning ,it  will go
 & the market will be up again,,,,,,,, people trust bitcoin more than any other currency

[Taras]

Everyone is overreacting, but I can't complain because I'm excited to get coins cheaper than they've been in... let me check... a few weeks!! It's been a few weeks since we've seen prices this low. That was such an incredibly long time ago...

[iamTom123]

There's still a light of hope for everyone because the same guy, Lee said in his own tweet that: "This is a good thing. China can no longer play with the markets by banning Bitcoin. Crypto-currency cannot be killed by any country." - https://twitter.com/SatoshiLite/status/908379371571863553

That is exactly the BIG POINT that I am emphasizing here in this forum. Bitcoin is designed in a way that any country can not destroy it...but the problem is that the market is making so many overreaction to any news involving China. So in case China would finally ban Bitcoin exchanges then let it be so we can all move on without China. One country should not be allowed to direct the course of this currency. There are also other markets we have to take care of.