What will happen to the china based cryptos ?

[Selfpay - Raphael]

Is there any member of the forum living in China that could potentially shed some light on the subject ? that would be awesome

[crismass1225]

all of you saying that all coin based on china are dead, you need to shut you mouth for a moment as there are no statement about it. Everything are speculative and more are FUD, just think about it, prominent people/billionaire and politician in china was invest in crypto and in just one click thier investment are getting ripped off, do you thing they will let this happen? and you all down to your conclusion that coin based on china are dead. in addition their no statement coming from Chinese government that everyone who started a new coin will face law enforcement. As far as I believe China take this action as they see that the Cryptocurrency are getting more bigger and prone to scammers and fake companies. so they need to stop it to see whos the real deal to invest and they regulate it.

[SushGo]

All are dead and no more new coins and which ever have started now they have to dilute their funds or else they are going to face a law problems.

Stop with the FUD man! There are no apparent conclusions that the coins will be dead or the ban is going to wipe out the entire crypto-scene.Chinese government is just paranoid with the missiles flying from the North Koera and hence panic banning their un-taxed businesses.Jokes only!

Worst case scenario, the company will be "sold" off-shore (outside China).  

Yes and the team will move to another country to operate the project from off-shores,well only on the papers.They all know how to do cloud computing.

Agreed with you, China has taken few preventive measures due to some undisclosed reasons. As per me, China may lift all the restrictions regarding cryptocurrencies after the re-selection of president Xi Jinping in the upcoming meeting of the congress.

[tanghere02]

Maybe some will be dead or have already sold off all of their coins because of the news about china and the closing of the exchanges. And we'll never know this is just a temporary thing, nothing had been confirmed yet if this will be taken into action forever.

[buxlover]

Off course every currency in the china might be dead by now. That's what will happen and has happened by now. I'm sure people might have gone crazy by now as they might be losing lots of investment they had. Just imagine if we had couple of thousands dollar and they are just lost within a night time then you can imagine what can happen to us. It's bad very very bad if it happens. China might be regretting by now about whatever happened and nobody will again trust it.

[virgojeep]

The Chinese government plans to make a state run exchange that only allows dogecoin 🐕

[Elena_Rodriguez]

I guess,

They will be given more months time to settle down their bitcoin and transactions



Here is an yet another released today: https://coinpedia.org/news/huobi-okcoin-btcc-viabtc-will-stop-trading/

[FrankNoland]

What will happen to the china based cryptos ?

I don't think that the Chinese ban will affect the Chinese coins in anyway, I have read a lot people panicking that the Chinese coins will drop to zero and they ended up selling their Chinese coins. We should actually consider this crash as the opportunity to buy more Chinese coins. I bought recently some neo and qtum, since I have a believe that nothing will happen to Chinese coins. As you have already seen that they are already picking up on coinmarketcap, just hold.

[shirokumo]

If you follow crypto Youtuber's like Boxmining and others, they will tell you China will regulate and potentially allow cryptocurrency exchange in the future: https://www.youtube.com/watch?v=rIVKeaRXOpo

[Manuj]

All are dead and no more new coins and which ever have started now they have to dilute their funds or else they are going to face a law problems.

Stop with the FUD man! There are no apparent conclusions that the coins will be dead or the ban is going to wipe out the entire crypto-scene.Chinese government is just paranoid with the missiles flying from the North Koera and hence panic banning their un-taxed businesses.Jokes only!

Worst case scenario, the company will be "sold" off-shore (outside China).  

Yes and the team will move to another country to operate the project from off-shores,well only on the papers.They all know how to do cloud computing.

Agreed with you, China has taken few preventive measures due to some undisclosed reasons. As per me, China may lift all the restrictions regarding cryptocurrencies after the re-selection of president Xi Jinping in the upcoming meeting of the congress.

Why is the name of Xi Jinping dragged into the current discussion? The ban has always been believed to be temporary. There will not be such permanent law because the world is actually turning on the side of crypto. ICO is one instrument normally used by crypto in promoting a certain project.

[wpalczynski]

What will happen to the china based cryptos ?

I think Chinese government did not shut down permanently , they just want to make policy against bitcoin in order to protect people from money laundry etc
I'm sure that Chinese exchanger can be operated once again in the future but with restrict term that have been apply by government

I also think the ban is only temporary. They will re-open ICO and exchanges once they have finished the regulations.
If not, china based cryptos will only move to another place without a doubt

[bitkanu]

If you follow crypto Youtuber's like Boxmining and others, they will tell you China will regulate and potentially allow cryptocurrency exchange in the future: https://www.youtube.com/watch?v=rIVKeaRXOpo

Not only youtubers but a lot of people are saying that the crypto will be allowed in the china as long as the crypto is fully regulated by the goverment. That will be true in the future.

[adam1230]

I guess China will start to invest self exchange systems like waves and also TOR network coins.
They will not want to get caught so this china ban will start a new trend for TOR network coins.

[jyotianand01]

They can rule their country and can close crypto currencies in their country, but they cannot control whole world crypto market. After some time, every thing comes to its normal position and market moving to its direction. Market already absorb that news and start moving upward direction.

[JohnSnowSand]

It seams they started cracking down hard, I hear mining might face a problem, maybe just rumors .

[perla]

It seams they started cracking down hard, I hear mining might face a problem, maybe just rumors .

they only want cheap price so they can stock more and they don't have any tricks anymore so they create rumor like this. i believe they will change their decision again in future

[JohnSnowSand]

I think they are dead .

[coingrow]

There is just a lot of FUD at the moment. With time things will get fine. Wait and don't panic sell into the deliberately created FUD. The ones who hold during this time will emerge out to be the winners. I am buying NEO, it just broke the trendline.

[kotajikikox]

What will happen to the china based cryptos ?

the announce btcc totally banned of the china government, the cryptos die in the china and according to news japan try to start mining, in this step dicision of japan is a big help to bitcoin to recover the price value.

[mickaelsilver10]

according to me the measures taken by the Chinese government are only temporary!
The Chinese president wants to show that he manages everything because the elections are coming soon