China closes exchanges

[alva 666]

this is fake news to make bitcoin price down and they buy  bitcoin and up prices to the moon

[Senja Kemuning]

China closes bitcoin exchange seems not so noticeable, look at bitcoin prices now, still expensive and looks stable even though there is a decrease of about 4% compared before there is an official announcement banned. I sure the price will normal a month again.

[Kotone]

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

As they have already banned bitcoin it might be that this is really bound to happen. The question is why would yhere be closures and banning of bitcoin. Is china closing its doors to the world or a rebellious action towards the united nations. What do you think?

[qwertyfull]

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

yeah this is actually good news though it have a big effect in the market of bitcoin because there are so many investors in china but for sure it will increase and recover soon like what is happening right now.

[coinzoid]

I sometimes wonder this news from China happen one time and go, but looks like news are periodically repeating themselves. So, it has an effect of Bitcoin price. Maybe the effect will be less and less at next schedule of repeating news.

[EUROPEANTURK]

China will close exchanges till end of septenber, i  think they got wrong decision about exchanges and they will understand it in the future. Bitcoin can be alive without china we can see it.

[omnik]

I sometimes wonder this news from China happen one time and go, but looks like news are periodically repeating themselves. So, it has an effect of Bitcoin price. Maybe the effect will be less and less at next schedule of repeating news.

That was not repeating the news but the there are some important thing needs to consider by the regulators about crypto. because the subject still same and you like see the same news everytime.

[Sled]

This seem a bad news for most of the people but for me it is not a bad news because if we are able to remove bitcoin from the list of the countries that are able to do bitcoins then the manipulation for the price and market of bitcoin will not exist anymore because bitcoin markets will be more active with well distributed supply to different people outside china.

[KourtneyK]

I think this is just temporary and will reopen exchanges in the future. Can't tell when yet but I'm sure they will and maybe create their own cryptocurrency and blockchain too.

[xFiber]

Let them close exchanges. Closing down exchanges wont' stop bitcoin nor the blockchain by any means. The free market will always come out on top and find new solutions to the problems. Maybe this will start to stimulate decentralized exchanges.

[evisitors]

Hi,  
Being new to forum. My thoughts,  20% coin holder china and 60% coin maker china can't  blow bitcoin.
They take alternatives
Even if they stop exchanges /mines,  prices go up after a small fall as it will be difficult  to mine coin when 60%, not available to mine btc.

[fastboy619]

Hi, 
Being new to forum. My thoughts,  20% coin holder china and 60% coin maker china can't  blow bitcoin.
They take alternatives
Even if they stop exchanges /mines,  prices go up after a small fall as it will be difficult  to mine coin when 60%, not available.

I suspect more Chinese in this forum very soon

[AtheistAKASaneBrain]

Let them close exchanges. Closing down exchanges wont' stop bitcoin nor the blockchain by any means. The free market will always come out on top and find new solutions to the problems. Maybe this will start to stimulate decentralized exchanges.

Governments can try to create liquidity problems by getting rid of all the big exchanges. If they get rid of Coinbase, Bitstamp, Bitfinex etc, the crash would be pretty bad, but in the long run OTC would make bitcoin go ATH eventually, then governments would commit suicide since they realized they did a big mistake in fighting Bitcoin instead of adapting to it.

[mrcash02]

What to expect from a communist whole? Capitalism is good there only when the government wants to make their deals with the world, but when it gives freedom to their people as individuals it's very bad and must be stopped, regulated soon as possible.

[gredisgold88]

hmm , so hard with China , like a same Russia goverment closed regulation bitcoin .

[South Park]

The way I understand is, China based exchanges are not going to close, they're just closing their CNYs pairs. Is that correct assumption?

Well you could understand it that way, but closing CNY pairs mean closing 90% of their trades, so essentially most exchanges will close altogether except maybe BTCC which is also running a successful BTCC international.

Correct this is just an underhanded way to close exchanges without actually closing them or banning them, they are just cutting their life line, the way they make money, without that then those exchanges are not going to survive for long and will have to close operations in a few months.

[Fidemoga]

I don't understand the issue with closing exchanges in China, are people from China not allowed to send money abroad and buy bitcoins there?

Don't look like its forbidden to trade abroad. That maybe the reason of the quick rebound of Bitcoin.

[batang_bitcoin]

China will close exchanges till end of septenber, i  think they got wrong decision about exchanges and they will understand it in the future. Bitcoin can be alive without china we can see it.

Actually the Chinese gov't wants to shutdown those exchanges immediately but a big exchange can't be closed that quick. And so those exchanges asked for an extension until the end of the month for their full shutdown. Chinese gov't will later on understand that they did a mistake of banning ICO's and shutting down exchanges. There are some remaining Chinese power in crypto currencies and they aren't touching it, mining.

[goldade]

I guess that is good news, the cat is out of the bag and no more rumors. China closes all exchanges based on the fact that they are operating without a formal license.

Which means there will be regulation and licenses coming soon, a good step forward.

https://www.coindesk.com/document-lists-closure-steps-for-chinas-bitcoin-exchanges/

Eventually, this is what they wanted regulation and the best way to go about it, is to first tear down the entire market and start rebuilding. If this is what is being spread, the effect wouldn't be as this but its also a lesson to those who panicked that its just a phase that would soon pass eentuakky when things stabilize. I just hope the exchange sotes are allowed to operate in peace.

[Casabrandy]

Bitcoin survived without China at a relatively high level and I personally don't care what a single country does in regards to bitcoin.

I think most people already forgot that bitcoin was at $1,000 in April and there is no reason to cry only because it's now at $3,700.

Really have a point,everyone who knows btc last year were amazed on the price it goes in this year so its really a big jump, those who cried too much were maybe started just this lates that they both price too high that's why.