CHINA UPDATE: The news China doesn't want you to know.

[burdeN]

Can't wait for Monday to come. It's been a while since we saw stable green market

[Vatimins]

Freaking China.

Ok, I'll be brief and to the point. 

I spoke to a good friend of mine Xui, who is a Hedge Fund manager at one of the largest firms in mainland China (Hong Kong is NOT China people.) and he confirmed that there is NO current legislation or even PROPOSAL to ban mining.  None.

The bulk of this downtrend has been of the coat tails of China declaring that it is going to regulate ICOs (This is gonna make the Chinese market much stronger and when they are back in the game full swing, watch the prices MOON.)  and exchanges.

China is not stupid, they are also not the USA.  They have a vastly different approach to government and legislation. 

Back to my point.  The FUD over China banning mining and network is false. 

You are going to hear about this more on Monday, but to my dear friends on here, get your trades in over the weekend. 

Picks of the day:
NEO @ $17.10 or better
ARK @ $2.57 or better
OMG @ $8.09 or better
WAVES @ $3.10 or better

*All long terms HODLS. 
*I have a position in all

That is what i keep on telling to my friends. But they do not want to believe me.  They went on and kept dumping not just the coins on the list but all they have and even btc because they said it wont be long till other governments ban all crypto currencies. Cant wait to rub it in their faces when the prices rise up. Too bad i only have a strong heart and belief with the coins but no funds to buy myself a lot of them. Sad.

[manselr]

I don't believe the mining ban will happen. I also don't believe they need legislation to do it, they can find existing rules or just express their displeasure.

Only suicidal idiots would carry on.

I also don't see how some guy who works in finance has the slightest clue about the internal workings of the chinese government.

Because of the way Chinese government works, these back and forths are perfectly possible. I don't discard a ban on chinese hosted mining, with (along with the exchange ban) a back pedaling that will consist mostly on issuing licenses and legislation where the Chinese State can get their cut. So what im saying is, I predict there will be a ban, and then both exchanges and mining will come back, all heavily monitored by Chinese government and all under strict licenses and paying a fee on everything.

All they want is to milk Bitcoin and make money doing so, I don't think the Chinese are strategically stupid enough to ostracize themselves into irrelevancy in the most relevant active that any nation should be aspiring to accumulate above gold for the first time in history.

[leea-1334]

I don't believe the mining ban will happen. I also don't believe they need legislation to do it, they can find existing rules or just express their displeasure.

Only suicidal idiots would carry on.

I also don't see how some guy who works in finance has the slightest clue about the internal workings of the chinese government.

Remember, bans can be lifted. The Chinese government has so far enforced bans, which it later lifts, when it comes to Bitcoin and crypto currency. The bans are usually just to keep things stable while they do their work.

I too do not see the connection between a hedge fund manager and government news waiting for release. But that is exactly how connected people work, to be honest.

[loreRex]

Freaking China.

Ok, I'll be brief and to the point. 

I spoke to a good friend of mine Xui, who is a Hedge Fund manager at one of the largest firms in mainland China (Hong Kong is NOT China people.) and he confirmed that there is NO current legislation or even PROPOSAL to ban mining.  None.

The bulk of this downtrend has been of the coat tails of China declaring that it is going to regulate ICOs (This is gonna make the Chinese market much stronger and when they are back in the game full swing, watch the prices MOON.)  and exchanges.

China is not stupid, they are also not the USA.  They have a vastly different approach to government and legislation. 

Back to my point.  The FUD over China banning mining and network is false. 

You are going to hear about this more on Monday, but to my dear friends on here, get your trades in over the weekend. 

Picks of the day:
NEO @ $17.10 or better
ARK @ $2.57 or better
OMG @ $8.09 or better
WAVES @ $3.10 or better

*All long terms HODLS. 
*I have a position in all

I spoke yesterday with Chang, the guy who is in charge of writing the legislation on crypto. It's all fine, don't worry guys!

...

Oh come on....

[muratsink]

Freaking China.

Ok, I'll be brief and to the point. 

I spoke to a good friend of mine Xui, who is a Hedge Fund manager at one of the largest firms in mainland China (Hong Kong is NOT China people.) and he confirmed that there is NO current legislation or even PROPOSAL to ban mining.  None.

The bulk of this downtrend has been of the coat tails of China declaring that it is going to regulate ICOs (This is gonna make the Chinese market much stronger and when they are back in the game full swing, watch the prices MOON.)  and exchanges.

China is not stupid, they are also not the USA.  They have a vastly different approach to government and legislation. 

Back to my point.  The FUD over China banning mining and network is false. 

You are going to hear about this more on Monday, but to my dear friends on here, get your trades in over the weekend. 

Picks of the day:
NEO @ $17.10 or better
ARK @ $2.57 or better
OMG @ $8.09 or better
WAVES @ $3.10 or better

*All long terms HODLS. 
*I have a position in all

I spoke yesterday with Chang, the guy who is in charge of writing the legislation on crypto. It's all fine, don't worry guys!

...

Oh come on....

But horrible things happen to some successful ICO months ago, such as STOX, OAX, MTH, AVT. maybe china people have sold all their coins so the price drop is very significant

[pedjo99]

It seems when there aren't any news from China, everything goes up  we just need them to be quiet for a month or two, and most crypto will reach their previous ATH

[alyssa85]

Well China might not be banning mining, but they are banning ICO's - so all those tips of yours for China based ICOs are poor.

How can anyone recommend purchasing a Chinese based ICO like Neo with a straight face?

[leea-1334]

I think it is 7pm now in China (mainland). Was really hoping to see some kind of news update but I guess I should have just checked now instead of every hour since 10am haha. Maybe no news is good news, is what OP was referring to? Anyway, trend looks to be going stable for now. Or China is waiting for Tuesday to troll people today.

[Cicada1033]

Well China might not be banning mining, but they are banning ICO's - so all those tips of yours for China based ICOs are poor.

How can anyone recommend purchasing a Chinese based ICO like Neo with a straight face?

Because there if a difference between banning ICOs once and for all and temporarely bunning ICOs to regulate them. It all comes down to how much risk you are willing to take for a possibly good return.

[manselr]

Well China might not be banning mining, but they are banning ICO's - so all those tips of yours for China based ICOs are poor.

How can anyone recommend purchasing a Chinese based ICO like Neo with a straight face?

Well, I just warned people to not buy NEO a couple post above, but im looking at the charts right now and it seems like the price is going up pretty nicely. Who knows if it will test $40 again, without the help of the Chinese market?

And who knows if a ton of Chinese people haven't found workarounds for the ban?

We may be overplaying the importance of the Chinese ban on Chinese projects. If anyone has enough money to buy crypto and knows how to do it, he should know how get an VPN and circumvent any bans and keep buying anything they want, so let's not get ahead of ourselves here because Chinese projects may still rise under the ban, but im rather cautious there so im not going to buy for the time being.

[zorranco]

But, are chinese exchanges going to shut down on Sept 30? Or not?

If yes, don't you think this can make all go down? (being the response justified or not).

I heard somewhere that whales are going to take advantage of this, and near Saturday they are going to dump ultra-hard to cause panic and re-buy later.

[nhote]

But, are chinese exchanges going to shut down on Sept 30? Or not?

If yes, don't you think this can make all go down? (being the response justified or not).

I heard somewhere that whales are going to take advantage of this, and near Saturday they are going to dump ultra-hard to cause panic and re-buy later.

much Chinese money should already be out of those exchanges, while it was news of two weekends ago that the larger ones have been allowed to operate till Oct 31 https://news.bitcoin.com/bitcoin-markets-rebound-as-more-chinese-exchanges-plan-to-close-operations/ so, i think the exchanges FUD has already been internalized by the market, at least in good part, but there may still be major reactions, whether positive or negative, to other news and announcements to come

[Bummers]

You can imagine the effect any positive outcome would be!

[nuskill]

You can imagine the effect any positive outcome would be!

As soon there is a sign of china coming back in trading...the market will pump!

[Blue_oxen]

look at NEO price. 24$. If you dont believe China gov and FUD you will be rich now. 17 -> 24$ can u believe that and i think it will reach 30$ soon

[nkarm1]

Freaking China.

Ok, I'll be brief and to the point. 

I spoke to a good friend of mine Xui, who is a Hedge Fund manager at one of the largest firms in mainland China (Hong Kong is NOT China people.) and he confirmed that there is NO current legislation or even PROPOSAL to ban mining.  None.

The bulk of this downtrend has been of the coat tails of China declaring that it is going to regulate ICOs (This is gonna make the Chinese market much stronger and when they are back in the game full swing, watch the prices MOON.)  and exchanges.

China is not stupid, they are also not the USA.  They have a vastly different approach to government and legislation. 

Back to my point.  The FUD over China banning mining and network is false. 

You are going to hear about this more on Monday, but to my dear friends on here, get your trades in over the weekend. 

Picks of the day:
NEO @ $17.10 or better
ARK @ $2.57 or better
OMG @ $8.09 or better
WAVES @ $3.10 or better

*All long terms HODLS. 
*I have a position in all

There is nothing really bad with mining, So China is not a fool to ban mining since nothing is wrong with it. The news are obviously just FUD and fake news, and add the Ignorant CEO that talks like LaVar Ball. And remember that ICO'S are just temporarily banned, not permanently. They are just finding ways to regulate it because the China Central Bank said that it's somehow disturbing the natural order of "their economy". So it was all just exaggeration and FUDs.

[SamboNZ]

Well China might not be banning mining, but they are banning ICO's - so all those tips of yours for China based ICOs are poor.

How can anyone recommend purchasing a Chinese based ICO like Neo with a straight face?

Well, I just warned people to not buy NEO a couple post above, but im looking at the charts right now and it seems like the price is going up pretty nicely. Who knows if it will test $40 again, without the help of the Chinese market?

And who knows if a ton of Chinese people haven't found workarounds for the ban?

We may be overplaying the importance of the Chinese ban on Chinese projects. If anyone has enough money to buy crypto and knows how to do it, he should know how get an VPN and circumvent any bans and keep buying anything they want, so let's not get ahead of ourselves here because Chinese projects may still rise under the ban, but im rather cautious there so im not going to buy for the time being.

All you can say is ban, ban, ban.
The only ban is they are not allowed to do a ICO and as for neo they are complying with the regulation and they can continue to operate. LMAO

[tony teo]

is that hearsay?

[/quote]

[go4crypto]

I think it will all be fully cleared up after China's 5-yearly party congress is over in later October:

https://cointelegraph.com/news/chinese-ico-ban-may-end-after-oct-18-with-communist-congress-elections

In the meanwhile, it is time to accumulate any good coins at good prices.