Oh Shit! - China bans Bitcoin yet again. This time for real.

[Przemax]

The fact that China has done the "banning" of bitcoin is the reason that the market have not overreacted.

The only way we can know that we have lost a large part of the market is to wait and see if the price will go further down. It would need to crash further if the rumours are real.

[davids]

bad news continues but market not reacting that much with the many news about how China banning bitcoin. if they go, there will be other markets ready to make use of bitcoin they cannot stop bitcoin from rising

[miguelmorales85]

ok guys, the crypto world was created to serve all the entire world. Lets not be extreme and say that people from China must be banned from Bitcoin.
Every one should and must use cryptocurrency to set itself free from the fiat rotten world BUT what I support is anti centralization from a country or market. That would mean falling again into old vicious economical behavior and we want to avoid  that,  right?

[nightwishx]

I guess it's just a scenario. so far we know that the Chinese government has never issued a permanent regulation, so I will not be hooked on such a thing.

[bnkj76]

next thing you know, NEO will develop a digital currency censored by the communist and used exclusively by the Chinese, just like WeChat, requiring your phone's number and your ID.

[bitcoinmang879]

Bitcoin exchanges and ICO may currently be banned, but I'm sure Chinese regulators are in the process of developing new laws--meaning the ban will eventually be lifted.

[bnkj76]

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

[MiBambino]

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

They're already building their own national crypto coin, which will fail. The nature of crypto is that the gvernment has no say in it. Either they accept it and learn how to benefit from them, or they'll get destroyed. They might win a couple of battles, but the war is ours

[CarnagexD]

Sorry, you should not "burn" people to sell their bitcoin just because the news ; China banned bitcoin for real. I don't think it will give us a good effect, because without china bitcoin still run. CMIIW.

  Yu are actually right, we could convince peoe to get involved in the wolrd of Bitcoin as cell as country because they may have their own Constitution and views about Bitcoin. So for me wevstiet bitcoin develop in the future by continuing our support and using Bitcoin as part of our transaction for future development and innovation.

[leopard2]

Yep, that is right - China does it yet again.  Bitcoin is now banned AGAIN!!!  Quick sell your Bitcoin!!!
https://cointelegraph.com/news/china-will-heavily-crack-down-on-all-bitcoin-trades

How many times is China going try this same trick?  How many times are stupid people going to care and fall for the same story?  

I would not be surprised AT ALL, if in 12 months more Chinese own BTC than today.

Chinese banned second child, Indian government banned gold & cash, US banned alcohol and banned cocaine, it all backfired ... today more people take opiates in the USA than ever before.

BTC doesn't give a shit  

Holy fuck, they even mine more than 50% of world's Bitcoin, it's like New Zealand banning sheep LOL

[bnkj76]

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

They're already building their own national crypto coin, which will fail. The nature of crypto is that the gvernment has no say in it. Either they accept it and learn how to benefit from them, or they'll get destroyed. They might win a couple of battles, but the war is ours

bitcoin is supposed to be decentralized. yes. in theory.
yet, in practice, the mining is overwhelmingly Chinese operated.
furthermore, until recent cleanup, Chinese exchanges operators have been manipulating the price. They own the order books. they can manipulate it.

however, China has probably already developed or going to build a version of bitcoins that will be controlled by the central bank. it will be feel decentralized but it will be fully transparent, censored, and monitored by the central bank to prevent fraud and to prevent yuan from devaluating against it.

[Oceat]

bad news continues but market not reacting that much with the many news about how China banning bitcoin. if they go, there will be other markets ready to make use of bitcoin they cannot stop bitcoin from rising

The market traders are all aware of this same strategy, they won't fall for it again. China is not the only country that can manipulate the fluctuation of bitcoin. There's a lot of Countries that can change the price because they have Whales in their country too. Those investors/traders on the market are keeping an eye on the price that's why they were aware of the China's strategy to try to manipulate the price again, but i guess it's not working.

[bettercrypto]

Isn't it the exchanges and transaction that were banned?  Not bitcoin itself?  Anyway I believe China is one of the country that see the potential of Bitcoin that is why they wanted to clean up Bitcoin exchanges and crack illegal activities that is connected to Bitcoin, so that when they come into a decision to freely accept Bitcoin in their country, they will be the first one to regulate Bitcoin perfectly but the question is, Is bitcoin can be regulated?

[leopard2]

sure they can build  a Chinese version of Ripple but people will not use that shit

in fact this will send  a strong message, "you cannot have the real thing, BTC is the real thing, but you can get our shitty fiat or sandpit crypto lookalike" and make BTC even more desirable 

[bnkj76]

sure they can build  a Chinese version of Ripple but people will not use that shit

in fact this will send  a strong message, "you cannot have the real thing, BTC is the real thing, but you can get our shitty fiat or sandpit crypto lookalike" and make BTC even more desirable  

China has a great firewall to ban and censor all the traffics related to Facebook, Google, WhatsApp....etc.and has developed their own equivalent software for their own use with heavy censorship, WeChat, Baidu.
What's preventing China from banning bitcoins and develop their own bitcoins with fully censorship and Call it ChinaCoin?
It's not desirable to Chinese if bitcoins are banned just like Facebook or Google in the country with banned access to foreign exchanges or p2p websites without using VPN which is actively monitored by the communists

[MiBambino]

i doubt the ban will be temporary.
i think the communist wants to control the yuan currency from devaluations against Bitcoins.
so they will develop their own version of cryptocurrency that will replace bitcoins and that they can control to manipulate yuan.

They're already building their own national crypto coin, which will fail. The nature of crypto is that the gvernment has no say in it. Either they accept it and learn how to benefit from them, or they'll get destroyed. They might win a couple of battles, but the war is ours

bitcoin is supposed to be decentralized. yes. in theory.
yet, in practice, the mining is overwhelmingly Chinese operated.
furthermore, until recent cleanup, Chinese exchanges operators have been manipulating the price. They own the order books. they can manipulate it.

however, China has probably already developed or going to build a version of bitcoins that will be controlled by the central bank. it will be feel decentralized but it will be fully transparent, censored, and monitored by the central bank to prevent fraud and to prevent yuan from devaluating against it.

That's a solid theory. Bitcoin will indeed never be fully decentralized, whether it's the governments or giant whales that hold the majority, unless it goes up to 50K a coin, which would make it harder for whales to manipulate. Now, be that as it may, the Chinese might be able to fully control bitcoin in china, they don't have power anywhere else in the world. Let them control everything in their own country like they always have, I'll keep investing and making money

[Biggapp]

do you means bouble banned why china very angry about bitcoin currency its because china can't under the custody of bitcoin the china government want to regulate to control bitcoin for the government interest or whwt reason, don't worry guys bitcoin raised to other country as currency and many investor goes to invest in bitcoin.

For sure it would be fake news but if it is true even then the bitcoin will never get affected because the circle of the bitcoin is now so wide. Many new and more countries are now investing in bitcoin and they have the strong believe in bitcoin, if the china will ban bitcoin then the price may fell down but as more countries are now supporting bitcoin and it will never affect the price of the bitcoin.

[ZaoXhou]

I think it's becoming a little more substantial than just fud.

[kenkoy]

These are FUD made by Chinese Government. Is it confirmed? According to the article, it was a closed door meeting the company officials. They will crack down all bitcoin and Cryptocurrency exchanges. This already affected the BTC value as the price is still dropping now. Whi benefits this most? China has a lot of big investors and whales of BTC.

[Rajamuda]

Oh bad news let alone this, well this really will make panicked many peoples to immediately decide selling bitcoin, no wonder the bitcoin prices look declining at this time. In my opinion.. it should us find out first more details about this news, bringing together information from various sources of information. Don't be too panicky about this, it could be just mere a issue.. we better still think calmly and don't hastily take action to sell it, who knows this is beginning of rising prices bicoin for the next.