How chinese miners would sell their coins?

[jungwong]

After closed btc exchange a ICO they still have giant mines. How would chinese miners sell their coins? Is it dangerous to use vpn there?

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[Cutekittens21]

I used to live there and using a VPN is fine. The government is cracking down on certain VPN apps and companies though. They could always keep their bitcoin on cold storage then travel to another country and sell there if they wanted to.

[gentlemand]

I would assume the biggest miners have set up deals with deep pocketed buyers who buy the coins off market as soon as they arrive.

If you want a large amount of coins without moving the market you don't have many choices. Going to a big miner is one of them. No exchange is needed. They just hand over the money directly.

[deadsilent]

Actually trading bitcoin peer-to peer became more popular when Chinese government stopped exchanges operations. Try localbitcoins and find a person who wants to trade cryptocurrency for money near you. As easy as that. They do this since trading cryptocurrency is not prohibited. It's only exchanges is what they prohibits. If they don't want that. Then migrate to other foreign cryptocurrency exchange. They can still trade cryptocurrency to other foreign cryptocurrency exchange as far as i know.

Anyway, Chinese government will likely to open those exchanges as soon as they issue their lincence to operate. So if you are chinese trader, just keep you coins because they are gonna open it soon.

[HabBear]

After closed btc exchange a ICO they still have giant mines. How would chinese miners sell their coins? Is it dangerous to use vpn there?

Why should Chinese miners sell their coins?

It not illegal in China to own Bitcoin. It's not even illegal to mine coins in China! It's illegal for an exchange to operate.

Anyone in China who has Bitcoin and wishes to sell it for yuan (WTF?) should move it to an exchange that operates outside of China, sell it for USD or EUR, then exchange that USD or EUR for yuan. It's that simple...literally.

And it shouldn't be dangerous to use a VPN there, it should be encouraged!

[Bodywowoya]

After closed btc exchange a ICO they still have giant mines. How would chinese miners sell their coins? Is it dangerous to use vpn there?

vpn use there is not dangerous, in principle, as everywhere where it is used to bypass, only the speed has decreased. And sales have remained through proxies, or exchanges are not in China, that's all the problems.

[tony_san]

No， using VPN is not dangerous but you can not sell VPN account and service. Chinese can exchange their coins in foreign plateform, it's no problem.

[WorldEG]

For every problem there is at least one solution.

Chinese are inventive people, they will probably create black markets until further news from their government.

[GreatBug]

After closed btc exchange a ICO they still have giant mines. How would chinese miners sell their coins? Is it dangerous to use vpn there?

What is the problem to transfer a coin to another account or wallet and sell it in another country or pass it on to another partner in another part of the world?