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

[MiBambino]

All the chinese government wants is control. They want to be able to tax and track every single transaction, and if they can't do it, they'll try to completely get rid of it. Let them try, they might succeed but they'll lose a shitton of money when chinese investors take their money to other countries

Simple you can understand this mean as: " If I can not make money from this field, I will destroy it and nobody can receive profit from it ". This is the nature of the Chinese government.

And the nature of the chinese government is also 'if we can't beat them, we join them'. They'll come around as soon as they figure out how to regulate everything.

The fact is that to date we can be sure that the Chinese problem can and consider itself very quickly and all the Chinese functions can take Japan. Thus, in the near future we can get rid of the problems, and even more so today Bitcoin starts more or less stable growth.

Yes, the one thing we can be sure about is that if the Chinese give up their marketshare, a smarter country will take its place, they all want to jump on the bandwagon now that it's still going relatively slow. Blockchain is the future, like internet was 25 years ago.

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[100bitcoin]

Thank u China

[chichigirl]

If that is true, i guess, more of the investor doesn't care anymore about the news. Bitcoin now is much stable than last week, it means everyone doesn't care anymore.

[ladydark]

There is nothing more to worry about that.Bitcoin has already recovered from the fall occurred as a result of china banning ICOs and regulating bitcoin exchanges.Most of traders have shifted towards japan's bitcoin exchanges where regulations are low.The only people who have to worry about is the chinese who have enjoyed great profits from bitcoin in the past and who had dominated the bitcoin world previously.And now,thanks to chinese government's actions,bitcoin is now totally independent of china and its good for the progress and retaining the decentralized nature of mining industry of bitcoin.

[MiBambino]

There is nothing more to worry about that.Bitcoin has already recovered from the fall occurred as a result of china banning ICOs and regulating bitcoin exchanges.Most of traders have shifted towards japan's bitcoin exchanges where regulations are low.The only people who have to worry about is the chinese who have enjoyed great profits from bitcoin in the past and who had dominated the bitcoin world previously.And now,thanks to chinese government's actions,bitcoin is now totally independent of china and its good for the progress and retaining the decentralized nature of mining industry of bitcoin.

I still think caution is advised. China is a massive market and it'll take more than a few days to recover. On the surface it might seem OK but I wouldn't put my money on it

[iamTom123]

If that is true, i guess, more of the investor doesn't care anymore about the news. Bitcoin now is much stable than last week, it means everyone doesn't care anymore.

The market right now is not reacting that much with the many news about how China is carrying its policy of banning Bitcoin exchanges and the holding of ICOs in its territory. I am hoping that they will not extend the same policy towards Hong Kong where many Chinese can transfer their cryptocurrency business and involvement.

The bad news kept on trickling in and the media is getting to be interested with those news as they know that millions are following the latest Bitcoin news from around the world. The market has already discounted the China ban and may not be causing the great retreat which happened last week but this can make Bitcoin stay put within the vicinity of $4,900 - $4,000 for now.

Next month which is October we might be seeing some respite for Bitcoin before going into November which is the scheduled fork month which may not affecting Bitcoin that much because we already saw what happened in August.

Long live, Bitcoin!

[yojodojo21]

Why should we sell our bitcoins?
I think it is only you who is afraid of banning?

 Don't worry of the problem in banning it is not your problem
It's bitcoin's.

China, has a problem that we don't know that's why they
Keep banning bitcoin.

Maybe there are hackers that is initiating china's information
Or weaponries by using bitcoin.

I don't think so that China will ban bitcoin easily with just
Minor problems, maybe there is a real and serious problem.

Wise, whales keep on buying bitcoin, because this is their advantage.

[pushups44]

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? 

The Chinese government will fail miserbly, given bitcoin's decentralized nature. This is clearly an overreach by an insecure government if true. On the other hand, the article linked to lacks sources and seems to be based on rumor or speculation. In any case, the Chinese government, like any other government, will fail in any attempts to prevent the use of bitcoin.

[Nawaytes]

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.

Yes, in many statements from the China they never said we are banning Bitcoin but we are banning ICO in order to regulate them again. Still, long way to go because it depends on their economic growth because other countries all allowing their people for Bitcoin purchase and start thinking to regulate it.

I agree with you although they (china) banned bitcoin in fact it will not bring down people's interest in bitcoin, am I right ?

Without China bitcoin will grow faster. Most Chinese are tricky, First, they fail with BCC to destroy bitcoin, next scenario they ban ICO, then they ban Bitcoin and then they ban internet at all. So the citizens will be out of date information and stupid that's why CHinse govt can easily control stupid citizens. IF I live in China I will migrate to other countries and never come back .

Or maybe they want to make their country like north Korea? not everyone can access internet in north Korea. I'm not sure

[bitorama]

a decentralized system doesn't care about china, bitcoin will be better without china

[sammrheza]

really ? you think how many times china banned bitcoin in the past ? why people keep fall with same trap 

[giveen]

Yes they are doing it example china itself blocked access to all local exchanges and now reports claims they are going to ban ip address of foreign exchanges also and the most important thing ban mining in the country with that they cause lot of issues to btc itself and they are also planning to ban bitcoin network in their country. It might cause issues for a while but other countries like japan maybe able to co-op up.

[kdiag]

let forbid)) the rate will fall and we will buy bitcoin at the bottom.
it is important not to miss the moment...

[LesterD]

really ? you think how many times china banned bitcoin in the past ? why people keep fall with same trap 

just let them to what they fear of
they dont know the history, they dont take a time to read what happens before in bitcoin. that is why they are all scared about the price fall of bitcoin.

[subSTRATA]

Price did not move that much, does this mean this news ain't that effective anymore? Anyway, if the price goes down again because of this, it opens opportunity to buy cheaper bitcoin.

i think its rather that, this time around, people have learned. we've seen, what, three separate instances of negative bitcoin - related news in the past two weeks? with the price tanking and recovering fairly quickly each time, i think people have learned that itll take a lot more than just china to destroy bitcoin, and have finally gotten to the point where they can see past the unreasonable amounts of FUD that people are spreading over every bit of news. that, or maybe the chinese have run out of coins to panic sell, and everyone else has already bought them up.

a decentralized system doesn't care about china, bitcoin will be better without china

maybe, maybe not. like it or not, china has a pretty big global economic presence. it might be beneficial in the future for them to be involved.

[grermezter]

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? 

No one should panic and sell their bitcoins just yet, that is going to devalue the currency even more. We really don't need the Chinese at all, this after all isn't the first time that they have banned bitcoins but yet still the currency is still thriving and if they are banning it now i really hope that they ban it for good this time.I for one am sick of their antics.

[ivrynx]

Though china is a large country, we should not panic, thr chinese banning bitcoin, will only mean, more bitcoins for the rest of us, we should also be aware that everything that china bans, we should invest on and take advantage, just look at them banning facebook in their country, facebook still grew, even without the chinese. I think we all are ready for this, since after the dip, those with weak handd already sold their bitcoinnand are out, those who are left are the real investors, since we know, one if the basics of investing is to buy low and sell high, this strategy is always effective, and when it comes to bitcoin doin a cut loss strategy is not advisable since we all know bitcoin always bounces back and for sure bitcoin will do it over and over again, even without the chinese. This news should also be clarified, we haven't heard yet, from a anyone who is investing bitcoin, that resides in china, and if they ban bitcoin, what will they do to all the bitcoin that they had mine, they cannot just easily throw their wallets away, well in for sure, those people have knowledge on how to keep safe their cryptocurrencies. I think for most of us, this will again make bitcoin's price go down and again we will hear from different personalities that will bad mouth bitcoin, and in the end, bitcoin will still prove itself to be powerful, more and more people will be patronizing bitcoin, and for sure china on the other hand might regret that kind of decision. Let's just not go into panic into thinking bitcoin is just a bubble, this is what they also said on facebook before, and we all know what is facebook today.

[AtheistAKASaneBrain]

Price did not move that much, does this mean this news ain't that effective anymore? Anyway, if the price goes down again because of this, it opens opportunity to buy cheaper bitcoin.

i think its rather that, this time around, people have learned. we've seen, what, three separate instances of negative bitcoin - related news in the past two weeks? with the price tanking and recovering fairly quickly each time, i think people have learned that itll take a lot more than just china to destroy bitcoin, and have finally gotten to the point where they can see past the unreasonable amounts of FUD that people are spreading over every bit of news. that, or maybe the chinese have run out of coins to panic sell, and everyone else has already bought them up.

The price is not moving because the damage has already been done. China can no longer push the price lower than $2800, that was the bottom. Anyone still FUDding is because he got stuck on a short position, he sold at a loss, he sold and isn't able to get get in again.... basically everyone still FUDding are panic sellers that want to buy back without having to pay an higher price. Fuck them, they are what's wrong with Bitcoin, and we are getting rid of them.

a decentralized system doesn't care about china, bitcoin will be better without china

maybe, maybe not. like it or not, china has a pretty big global economic presence. it might be beneficial in the future for them to be involved.
[/quote]

Bitcoin IS better without a corrupted shithole like China. Bitmain is a cancer to Bitcoin. The faster they die the better it will be. It may cause a temporal correction due the lower hashrate but the fundamentals will be better without Jihad Wu supporting every hard fork under the sun.

[deadsilent]

Well, the same trick they did last year. Shaking off a lot of bitcoin noobs whose panic when see bad news. The FUDs were effective though. The price drops to $2900+. But me, i don't buy that bullshit they've made. They are just scare people to sell their bitcoins and buy when drops to get handful of bitcoins. Well that's the way it is. Everyone gets scared. Bitcoin ban in China is impossible to happen and i think the statement of China about that was unconfirmed. If it's true, it will be just temporary. Even if China ban Bitcoin. I don't think they cannot stop bitcoin from rising. A lot of huge countries already adopting this technology. They will just simply replace China. In the end i think China is the loser.

[RawDog]

Bitcoin ban in China is impossible to happen

 In the end i think China is the loser.

It already happened.  Don't believe me, just ask Bobby Lee.  This is serious shit when they kill the exchanges. That is as close to 'a ban' as you can get.  Just because they havn't removed every node from China territory yet, don't think the ban is not done.  It is done. 

Me for one, I am glad the Chinese are gone.  We didn't need them anyway and they contributed nothing but FUD and problems to bitcoin.  I wish we could find a way to kick them off the Internet too.