Charlie Lee: China Bitcoin Mining Ban Rumors are False

[BADecker]

Charlie Lee: China Bitcoin Mining Ban Rumors are False

Litecoin creator Charlie Lee says a trusted source has told him that China will not ban bitcoin mining operations or the bitcoin network. He says the rumors are being propagated by large-scale traders who are attempting to manipulate the bitcoin price.

Lee revealed this information Thursday night on Twitter, stating that he had not traded on the knowledge before making it public.

With this tweet, Lee joins MGT Capital's John McAfee in contradicting a series of rumors suggesting that China would widen its crackdown on cryptocurrency to extend to mining. Citing a conversation with Bitmain co-founder Jihan Wu, McAfee stated that regulators will not make mining illegal.

Nevertheless, Chinese miners account for a majority of the bitcoin hashrate, and the markets have been shaky as they attempt to separate rumor from fact.This fear, uncertainty, and doubt (FUD) present within the market "is propagated by large manipulators trying to make money shorting," Lee suggested. "They know that China ban FUD works and cannot be proven wrong."

He added that the order-book exchange ban "is still absolutely true," although it is "not clear" whether China will shut down all peer-to-peer trading platforms (BitKan has already announced it will terminate its trading platform). Of course, many industry observers–including Blockchain Capital's Spencer Bogart–have pointed out that a ban on peer-to-peer trading would indirectly ban professional bitcoin mining as well since miners would not have an outlet to sell the coins they mine.

Lee has been ahead of much of the recent news regarding China's cryptocurrency squeeze. Citing an anonymous source, he predicted the bitcoin exchange ban, along with OKCoin and Huobi's meeting with regulators to discuss the terms of their closures.

Read more and click the links at https://www.cryptocoinsnews.com/charlie-lee-china-bitcoin-mining-ban-rumors-false/.

[HabBear]

I remember people saying "the news is false" about the ban on ICOs. Then i remember people crying "fake news!" About the reports that China banning bitcoin exchanges. Both of those rumors turned out to be true.

I think i'll take this one as true.

"YOU'RE FAKE NEWS!", BA!

[BitWhale]

Charlie Lee is definitely one of the more credible sources of information in regards to this type of stuff. I am definitely taking note.

[eckmar]

Huge part of bitcoin mining community are in fact Chinese people. If they ban mining it will be a huge trowback for the network

[bnkj76]

Keep in mind that the big miners are essentially the big exchange operators. btcc exchange run their own pool. so does viabtc.
so exchanges ban is going to significantly affect the their cash flow source being that exchange no longer has any cryptocurrency/fiat pair.

The miners have hard time to gather cash to pay for the expenses. the exchange operators have a hard time gather cash for their servers....so essentially they have to rely on OTC trades to exchange cryptos for cash whereas before they can just withdraw exchange cryptos to fiat and then withdraw fiat to their bank accounts.

[Rahar02]

I remember people saying "the news is false" about the ban on ICOs. Then i remember people crying "fake news!" About the reports that China banning bitcoin exchanges. Both of those rumors turned out to be true.

I think i'll take this one as true.

"YOU'RE FAKE NEWS!", BA!

What was only rumors has become reality, but I've never find an article/news that mentioned about China regulators will shut down mining operations as well. Which mean; there's no any further information about this rumor, I don't buy it but better to prepare before the storm hit us. All of this down trend because people believe in the news, even though it's true but at least we're not involved to dump bitcoin, how the market react because of China is unbelievable.

[AnisahSiti]

Charlie Lee: China Bitcoin Mining Ban Rumors are False

Litecoin creator Charlie Lee says a trusted source has told him that China will not ban bitcoin mining operations or the bitcoin network. He says the rumors are being propagated by large-scale traders who are attempting to manipulate the bitcoin price.

Lee revealed this information Thursday night on Twitter, stating that he had not traded on the knowledge before making it public.

With this tweet, Lee joins MGT Capital's John McAfee in contradicting a series of rumors suggesting that China would widen its crackdown on cryptocurrency to extend to mining. Citing a conversation with Bitmain co-founder Jihan Wu, McAfee stated that regulators will not make mining illegal.

Nevertheless, Chinese miners account for a majority of the bitcoin hashrate, and the markets have been shaky as they attempt to separate rumor from fact.This fear, uncertainty, and doubt (FUD) present within the market "is propagated by large manipulators trying to make money shorting," Lee suggested. "They know that China ban FUD works and cannot be proven wrong."

He added that the order-book exchange ban "is still absolutely true," although it is "not clear" whether China will shut down all peer-to-peer trading platforms (BitKan has already announced it will terminate its trading platform). Of course, many industry observers–including Blockchain Capital's Spencer Bogart–have pointed out that a ban on peer-to-peer trading would indirectly ban professional bitcoin mining as well since miners would not have an outlet to sell the coins they mine.

Lee has been ahead of much of the recent news regarding China's cryptocurrency squeeze. Citing an anonymous source, he predicted the bitcoin exchange ban, along with OKCoin and Huobi's meeting with regulators to discuss the terms of their closures.

Read more and click the links at https://www.cryptocoinsnews.com/charlie-lee-china-bitcoin-mining-ban-rumors-false/.

Yup.. news that does not include proof is fake. they are trying to control the price. And this is a test for the weak-hand.

[avikz]

I really have no idea about it whether it's just a rumor or a reality. The previous two rumors about China banning ICO and exchanges turned out to be true and hence people are believing the news of banning mining as well. But I really hope that China will at least not ban mining operations in its soil. If it happens in real, that is going to work as a massive shock on the bitcoin network. We will see bitcoin price sinking only from the current level.

[alyssa85]

Charlie Lee is definitely one of the more credible sources of information in regards to this type of stuff. I am definitely taking note.

Well his brother owns and ran the BTCC exchange, so he probably has some official contacts via his brother. That means he knows more about what is going on in China than some random person.

[hatshepsut93]

I remember people saying "the news is false" about the ban on ICOs. Then i remember people crying "fake news!" About the reports that China banning bitcoin exchanges. Both of those rumors turned out to be true.

I think i'll take this one as true.

"YOU'RE FAKE NEWS!", BA!

Except Charlie Lee predicted exchange closure days before it happened. Maybe it doesn't mean that he is always right, but at least his sources are somewhat credible. There are also rumors that exchanges will open again after getting licenses so in this case there will be no ban. Also now is the perfect time for fake rumors and FUD, because rumors about closure of exchanges got confirmed. But we usually don't have any trusted sources for such rumors (except maybe Charlie Lee) so it's hard to know which ones are fake.

[Ryan Dugan]

I never believed it from the start. I know the communistic but that is going to far trying to take enterprising careers from its citizens doesn't look or go down well with other countries. That is too much control that will prevent evolution.

[ecnalubma]

China keeps on monopolizing everything and that really sucks. They seem very dictatorial in terms of economy and I think bitcoin is likely a commodity to me now just like oil. If this continues bitcoin is not a bitcoin no more. I hate manipulators, but who are we to stop them.

[DoublerHunter]

Looks that the Chinese people are just trying to manipulate the market of bitcoin so they can bring down the price and get a better deal price with bitcoin. The price of bitcoin right now is falling down but if the chinese bad news or rumors are just false alarm then we should buy right now and wait for the price of bitcoin to go up after confirmation of fake news.

[AnisahSiti]

I remember people saying "the news is false" about the ban on ICOs. Then i remember people crying "fake news!" About the reports that China banning bitcoin exchanges. Both of those rumors turned out to be true.

I think i'll take this one as true.

"YOU'RE FAKE NEWS!", BA!

What was only rumors has become reality, but I've never find an article/news that mentioned about China regulators will shut down mining operations as well. Which mean; there's no any further information about this rumor, I don't buy it but better to prepare before the storm hit us. All of this down trend because people believe in the news, even though it's true but at least we're not involved to dump bitcoin, how the market react because of China is unbelievable.

yup.. people always trust with the news rumors.. and weak-hand follow that news too. We need smart people, to strengthen the bitcoin and counteract the bitcoin-related bad issues. if we are always fixated on fake news, it's proof that we are still weak, we have to be strong because what we will actually face are the government and central bank. and I think they are a very scary specter.

[Casabrandy]

I remember people saying "the news is false" about the ban on ICOs. Then i remember people crying "fake news!" About the reports that China banning bitcoin exchanges. Both of those rumors turned out to be true.

I think i'll take this one as true.

"YOU'RE FAKE NEWS!", BA!

What was only rumors has become reality, but I've never find an article/news that mentioned about China regulators will shut down mining operations as well. Which mean; there's no any further information about this rumor, I don't buy it but better to prepare before the storm hit us. All of this down trend because people believe in the news, even though it's true but at least we're not involved to dump bitcoin, how the market react because of China is unbelievable.

yup.. people always trust with the news rumors.. and weak-hand follow that news too. We need smart people, to strengthen the bitcoin and counteract the bitcoin-related bad issues. if we are always fixated on fake news, it's proof that we are still weak, we have to be strong because what we will actually face are the government and central bank. and I think they are a very scary specter.

It's really the FUD that makes the price down, whoever behind these news ,all that I see is they have something they wanted for their benefits like when it dips they will took advantage on buying ot.

[Tukang Becak]

If bitcoin mining banned true will certainly make the stock bitcoin drop and this will bring the impact of bitcoin prices skyrocket. but I hope bitcoin mining banned is just a rumor and will never happen in china and anywhere.

[Yakamoto]

Good to know that there is some relatively credible info in the sea of FUD we've been having, I haven't really been paying an insane amount of attention to the ban but I have been keeping track of the market (and the affect the news is apparently having on the various investors). I heard that in China BTC started to trade around $2.6k at the bottom, so it sounds like there were some serious issues going on at some point. No idea what the situation is looking like right now.

[ramsdaj28]

I remember people saying "the news is false" about the ban on ICOs. Then i remember people crying "fake news!" About the reports that China banning bitcoin exchanges. Both of those rumors turned out to be true.

I think i'll take this one as true.

"YOU'RE FAKE NEWS!", BA!

What are you referring to as FAKE NEWS? Is it the China banning ICOs and bitcoin exchanges OR Charlie Lee saying that these rumors are FALSE? Lol. Whatever it is, I believe that Charlie Lee is more reliable than those RUMOR MAKERS who keep on telling that China gonna ban ICOs and bitcoin. I believe, Charlie Lee knows better than most rumor makers. Those people are trying to condition the minds of people that bitcoin will be a failure in the future, but majority of bitcoin users have their trust on bitcoin.

[TryNinja]

I remember people saying "the news is false" about the ban on ICOs. Then i remember people crying "fake news!" About the reports that China banning bitcoin exchanges. Both of those rumors turned out to be true.

I think i'll take this one as true.

"YOU'RE FAKE NEWS!", BA!

Charlie Lee actually claimed that both news were true. That's the first one from the recent events that he claims to be fake news, which is the reason why I prefer to trust his words this time.

And of course they will say that every bad news is actually just FUD. People will usually tend to avoid the truth when there are news about something as bad as China banning exchanges or even Bitcoin. Why would you want Bitcoin to get dumped in the market?

[Bacotan Bae]

Everything is still an issue and I hope the Chinese government is not banned bitcoin, they should think about the negative impacts for its citizens involved in bitcoin business, more than 15 billion USD bitcoin marketcap in china.

[valentin68]

This is the news I was wating for. I never believed that China will ban the bitcoin mining. It is too important for the Chinese economy. I am wating for 30 September to be certain that this is true and then I will reinvest some money into them.  I must say that I am very happy now that I read this. Thank you for this truly wonderful news.  Let's wait until 30 September however.

[CryptoBry]

Charlie Lee is definitely one of the more credible sources of information in regards to this type of stuff. I am definitely taking note.

Yes, Charlie Lee can be more credible that all the others who are just spreading FUD and fake news so they can manipulate the market (just like what this Demon of JPMorgan is doing). And since Charlie is a Chinese too then probably he really got some high-ranking connections that he can speak with for many issues affecting Bitcoin in China. We will see if Charlie can be right on China not touching the Bitcoin mining sector.

[jhenfelipe]

Good thing if it's false but we are not 100% sure unless it won't really happen. What's sure is that these claimed fake news before (ICOs & Exchanges Ban) bacame true and affected the Bitcoin price indeed. Most people panic as they might lose their investment so if this Mining Ban news become true as well, most people will sell their holdings again which will most likey lead to another price fall.

[BADecker]

Bitcoin seems to be maintaining some strength. Remember, Btc was only around $2700 USD at the end of July. That's less that 2 months ago. If China was shutting down the miners, the price would have fallen below the July price.

[erickkyut]

Regardless if the news was fake or not, the damage has been done! But knowing Bitcoin, it will easily recover from such thing. The good thing about knowing that the news was fake is that the investors will not be afraid for a price decrease again and they will be encourage now to invest again on Bitcoin specially those who are new in this market.

[alyssa85]

Bitcoin seems to be maintaining some strength. Remember, Btc was only around $2700 USD at the end of July. That's less that 2 months ago. If China was shutting down the miners, the price would have fallen below the July price.

The miners don't affect the price as much as investors and developments like hard forks.

Basically, if the miners were shut down in China, other parts of the world will take up the slack. Now that Japan has legalised bitcoin, there are some big companies with a lot of cash planning to get into mining:

https://bitcoinmagazine.com/articles/japanese-company-will-launch-new-bitcoin-mining-operation-7-nm-chips/

I think GMO intends to go live with mining in 2018.

In addtion, another Japanese company called DMM will start mining in October:

https://dmm-corp.com/press/press-release/17513

Lots of hardware companies in Japan are interested in making the chips for the ASICS too.

It's amazing how quickly development happens once something is legalised! I think in a few years China will regret the stance it has taken as regards bitcoin, because the Japanese will have eaten their lunch.

[Wingo]

This is a good read, I'm taking note. Many people are just that weak to be affected easily by those fake news. But the said traders are successful in manipulating the price of bitcoin because it had fallen down so much. This is a test for all of us that we should believe in bitcoin.

[phr0stbyt3]

He isn't someone working in the government he told in past that ico ban has only happened because china wanted to introduce new regulations on it as firms were raising millions with any legal entity and most investors were the chinese. He told exchange ban is also a runour and now this i wouldn't agree or disagree with him as future is always uncertain

[Baofeng]

This is a good read, I'm taking note. Many people are just that weak to be affected easily by those fake news. But the said traders are successful in manipulating the price of bitcoin because it had fallen down so much. This is a test for all of us that we should believe in bitcoin.

I think we should all take note of this. Remember they have like 70% control of all mining power and shutting them down will complete put a significant affect on the market. I consider Charlie to be somewhat authoritative and wouldn't just open his mouth to attract attention. He has connections and so I will take his word. Maybe this offset what Dimon said earlier, that's why the price has somewhat go green again after a 2-3 days of slowly declining. Current price is tag at $38xx, probably push to $4000 or more if this statement could be verified by the Chinese government.

[hatshepsut93]

Perhaps the Chinese government views mining as beneficial because it's a good method to dump their spare electricity from hydropower plants and also keep in mind that majority of asic manufacturing is also in China. If Chinese exchanges are closed, miners are forced to sell Bitcoin of foreign markets essentially exporting it and bringing more foreign currency into China. Maybe this even was the reason for closing exchanges in the first place.

[Ryan Dugan]

I never really believed them from the beginning. What are we back in ww2 with communism here ? I mean that would just be bad and look really bad to the rest of the world if the government starts baning enterprising careers for its citizens, that's just going too far.

[btc_angela]

Perhaps the Chinese government views mining as beneficial because it's a good method to dump their spare electricity from hydropower plants and also keep in mind that majority of asic manufacturing is also in China. If Chinese exchanges are closed, miners are forced to sell Bitcoin of foreign markets essentially exporting it and bringing more foreign currency into China. Maybe this even was the reason for closing exchanges in the first place.

Yes, I think its more beneficial for them if they still go with the mining because they have a surplus of electricity. And besides there are a lot of chinese who works in this bitcoin mining farms. If they are close then a lot would be out of jobs and government needs to support them. Its a booming business and I know that Chinese government are not that stupid to give it up and let other countries take the lead in the mining industry. So only ICO's are ban, exchanges closing but a likelihood that they can be operational if they comply to the new regulations and bitcoin mining not affected. So we are all good now.

[darkangel11]

If they shut down trading it's all the same. People won't be able to exchange which will make holding difficult. You'll have to meet face to face with a seller just to be able to own some coins. That said if a Chinese citizen decides to buy some crypto it's possible to use a foreign exchange. They will just have to convert their RMB to USD and continue as if nothing has changed.

[Ariess]

I am really confused and want to laugh, this is a joke that china serves. they rotate all the rumors, and manipulate the existing ones. I think china wants to buy bitcoin until the cheapest price.

[CowboyKiller]

Perhaps the Chinese government views mining as beneficial because it's a good method to dump their spare electricity from hydropower plants and also keep in mind that majority of asic manufacturing is also in China. If Chinese exchanges are closed, miners are forced to sell Bitcoin of foreign markets essentially exporting it and bringing more foreign currency into China. Maybe this even was the reason for closing exchanges in the first place.

Yes, I think its more beneficial for them if they still go with the mining because they have a surplus of electricity. And besides there are a lot of chinese who works in this bitcoin mining farms. If they are close then a lot would be out of jobs and government needs to support them. Its a booming business and I know that Chinese government are not that stupid to give it up and let other countries take the lead in the mining industry. So only ICO's are ban, exchanges closing but a likelihood that they can be operational if they comply to the new regulations and bitcoin mining not affected. So we are all good now.

The Chinese goverment only want miners can pay taxes fees after they created new rules for Bitcoin and cryptocurrency. Other countries also want that, but they do not want to ban this field before they create rules like this thread has said.

[eaLiTy]

Bitcoin seems to be maintaining some strength. Remember, Btc was only around $2700 USD at the end of July. That's less that 2 months ago. If China was shutting down the miners, the price would have fallen below the July price.

Apart from the rumors i have not a seen a credible source that tells that China is planning to ban bitcoin,they want to regulate the exchanges and that i can understand,there is too much FUD news in the air and i sure there is a certain source for these sort of manipulative news ,so that people would panic and sell off their assets so that they can grab when the chips are down.

[thebanker28]

Even if you believe all the FUD, much of which might be unfounded, it makes no sense for China to ban mining. It is a form of export for them and in the greater scheme of things it is not huge money (yet), money is money.

As others have pointed out, a degree of regulation and control is at least understandable in the exchanges, but this FUD is way over done.

[AtheistAKASaneBrain]

There are now a lot of big names that have said there will not be a Chinese ban on mining, including Charlie Lee, John McAfee, Jihad Wu amongst others, so I wouldn't expect an actual ban anytime soon, but remember that if the bans happens, there's no reason to panic, it's obvious that we can survive with a lot less hashrate, believe it or not bitcoin is overprotected at this point, so if we lose the weight on our shoulders that the chinese monopoly is, it will be positive contrary to popular belief.

[Teraboy]

There are now a lot of big names that have said there will not be a Chinese ban on mining, including Charlie Lee, John McAfee, Jihad Wu amongst others, so I wouldn't expect an actual ban anytime soon, but remember that if the bans happens, there's no reason to panic, it's obvious that we can survive with a lot less hashrate, believe it or not bitcoin is overprotected at this point, so if we lose the weight on our shoulders that the chinese monopoly is, it will be positive contrary to popular belief.

Wonder what's the "trusted source" they have but these big names which suddenly appear and saying that bitcoin mining will not be banned just seems fishy tho, atleast from my opinion.
are they trying to make bitcoin's price go higher again after making their wallet full of bitcoins? this is just pure speculation of mine.

[ivrynx]

i hope this time, a news from china came from a trusted source,nonetheless this is still good news, though almost everyone here knows that china will not just simply ban mining of bitcoins, the government will still profit from the miners since it uses up electricity, hopefully china already had thought of ways on how they can regulate their bitcoins and now have security for their people regarding scam ICOs. i think we should still verify this news, though it is a positive one, since a lot of fake news had been going around china lately, we still need to be vigilant, though it is a positive news this time, we just can stay lax even though china is not going to ban mining, we should still keep in mind that if this is not true, bitcoin might again have another sale or another dip, hopefully this one is true and for sure we will see again bitcoin rallying back to 5000 usd. hopefully china will also fight fake news in their country, have clarified first by the resource person, since we live now in a word wherein editing is made easy, we and the media is doing things to control the masses, i just hope this news is fact.

[pekingcoepo]

If the above article is true, this is really shocking news coming from China, unfortunately some wholesalers in china actually manipulate bitcoin price issues in the bottom market. From the beginning I was also wondering what is right the Chinese government is making such a problem, seeing the biggest users of Bitcoin exist in china.
All this should be a lesson for all of us in the face of problems.

[Netnox]

Nothing can be said for sure. When the news about the exchange shutdown first came out, even I was thinking that it was fake news. But I realized that it is true, when some of the exchanges started announcing dates for their closure. And some of the other exchanges suspended the CNY-BTC trade, under directives from the government authorities.

[BADecker]

Two months ago, the price of Bitcoin had not yet reached $3000 USD. Then, one month ago it almost reached $5000. Now its above $3500.

The big picture is that when Bitcoin started 8 years ago, it was essentially worth nothing. There are loads of stocks that don't do this great. Stocks are not for everyone, but Bitcoin is.

Bitcoin is barely started (8 years). Just think of where it will be once it gets going.

[Reid]

1st day of that news that is all I am thinking about. Someone is behind of all this spreading fake news. They might have felt that it is time to sell and make a lot of profit so they created it. Sell their coins without doubt and bought it back after the recent fall of bitcoin.
They can do that while we at the lower amount holders could just go with the flow or wait until it all ends and bitcoin will be back at its good price.

[Dart18]

This one is legit.
Thank you for clearing this out and posting it here.
I hope the new investors could read this so that they will know the truth behind all this rise and fall.
Most of the users are shaken with the $1000+ decrease and now is the time to understand it. It might happen again in the next increase better be ready.

[bamboylee]

real or not, these rumors are greatly affecting the price of bitcoin. There newbie owners of bitcoin are easily affected by FUD, so the ones spreading it are greatly profiting from it. There will be more fake news and fud in the future because someone is making good money out of it.

[BADecker]

Chinese Exchange to Launch Platform Based Outside of the Country

Chinese cryptocurrency exchange ViaBTC has announced its intention to launch a trading platform based outside of China. The decision to establish an overseas-based platform follows announcements that the exchange will shut down operations in mainland China on September 30th.

ViaBTC has revealed plans to launch a cryptocurrency exchange platform outside of mainland China. The company estimates that one-third of its customers are based outside of China. ViaBTC's chief executive, Yang Haipo, has expressed the company's belief that expectation that "overseas users will continue to use the ViaBTC platform."

Last week, ViaBTC issued an official statement revealing that the company would be "clos[ing]… for exchange business in mainland China on September 30th". ViaBTC is a cryptocurrency technology company that launched in 2016. Initially, the company ran a mining pool and provided cloud mining services, before launching its exchange platform during May this year after having raised 20 million CNY ($2.9 million USD approximately) from Bitmain Technologies. ViaBTC previously stated its intention to first target China's domestic cryptocurrency trading market before seeking to expand to target overseas customers.

Read more and click the links at https://news.bitcoin.com/viabtc-to-launch-exchange-platform-based-outside-of-china/.

[jamids]

After this news, there is a rumor again that China would let those exchanges again operate this coming October. I don't know what is true or false but then there is a clear indication that they are doing it so that they can manipulate prices. Others would just ride to make the price go lower like Jamie Dimon declaring that bitcoin is fraud and would eventually become worthless then when the price dips, he would buy which is a clear intention of making the price go down for his company to buy lower. Just hold on to your coins fellow bitcoin enthusiasts, price will eventually go up again.

[pooya87]

After this news, there is a rumor again that China would let those exchanges again operate this coming October. I don't know what is true or false

if you read these things completely through then i am sure you can know that is true or false.

the FUD says China has banned: bitcoin and mining and exchanges and ICOs and altcoins and crypto in general.

the reality says China has banned: ICOs
and also the reality says China has suspended exchanges because they were not licensed.

Charlie Lee that OP quoted here is also saying the same thing. that Chinese never banned bitcoin nor mining of it.

[poplolnman]

Looks that the Chinese people are just trying to manipulate the market of bitcoin so they can bring down the price and get a better deal price with bitcoin. The price of bitcoin right now is falling down but if the chinese bad news or rumors are just false alarm then we should buy right now and wait for the price of bitcoin to go up after confirmation of fake news.

that's one of many opinion about china ban everything about bitcoin , some people says that it's just manipulation , the other says it's really true conspiracy to make bitcoin disappeared and their government would launch their own crypto currency operated just like bitcoin but under government regulation. don't know which one are the true one but it seems charlie lee statement so legit to believed.

[Tumanggor]

the news is correct even broadcast by BBC News, so if you say it is fake, I might think maybe your news is fake, so please stop spreading a fake news ..

[megynacuna]

the news is correct even broadcast by BBC News, so if you say it is fake, I might think maybe your news is fake, so please stop spreading a fake news ..

Not every news carried by the BBC is credible, they are just another media house and also prone to make errors. They are not perfect, the CNN's coverage of the recent US elections should be a perfect example to you that big and established media houses doesn't hold perfection license in media reportage.

[BADecker]

After this news, there is a rumor again that China would let those exchanges again operate this coming October. I don't know what is true or false

if you read these things completely through then i am sure you can know that is true or false.

the FUD says China has banned: bitcoin and mining and exchanges and ICOs and altcoins and crypto in general.

the reality says China has banned: ICOs
and also the reality says China has suspended exchanges because they were not licensed.

Charlie Lee that OP quoted here is also saying the same thing. that Chinese never banned bitcoin nor mining of it.

To say this more clearly and simply, whenever Government makes laws about something, they aren't making the laws to control the "something." Rather, they are making the laws to take freedom away from the people.

[IamAltcoinfan]

By seeing all this scenario China government is stopping flow of common citizens money through exchanges buying bitcoin using Chinese money . In other side China want income from bitcoin mining that can be exchange in other countries .so that national wealth will increase.

[Michael-crypto]

Currently only one thing is sure : bitcoin mining brings money and jobs to China.

[niisarearning]

It’s really great news some one like Charlie Lee veteran in crypto world coming up and giving statement for bitcoin it’s really great . I hope exchange ban will only loss for China not rest of world soon China will regret for its decision.

[blockcha1n]

Charlie Lee is definitely one of the more credible sources of information in regards to this type of stuff. I am definitely taking note.

Lol, I'm definitely relaxed now too, no need to worry guys, we're safe now, China can't hurt us anymore.

[carlisle1]

Charlie Lee is definitely one of the more credible sources of information in regards to this type of stuff. I am definitely taking note.

Lol, I'm definitely relaxed now too, no need to worry guys, we're safe now, China can't hurt us anymore.

those fud about china will stop for a while the another country will say that will do the same and yet more fake news will spread I hope most of the panic
seller that will be shaken for this type of news should read more about those charts and start learning from there previous mistakes.

[Ejanend]

Perhaps the Chinese government views mining as beneficial because it's a good method to dump their spare electricity from hydropower plants and also keep in mind that majority of asic manufacturing is also in China. If Chinese exchanges are closed, miners are forced to sell Bitcoin of foreign markets essentially exporting it and bringing more foreign currency into China. Maybe this even was the reason for closing exchanges in the first place.

It is being said by some people that bitcoin is banned in the china. Price of the bitcoin is getting famous and the price is getting high now in a lot of the countries bitcoin is being famous but in some areas bitcoin is still unable to reach such as in UK Japan and America bitcoin is being accept at the huge level so bitcoin will remain the same if the china accept it or ban it., does not matter.

[pokeronlinestatus]

There are now a lot of big names that have said there will not be a Chinese ban on mining, including Charlie Lee, John McAfee, Jihad Wu amongst others, so I wouldn't expect an actual ban anytime soon, but remember that if the bans happens, there's no reason to panic, it's obvious that we can survive with a lot less hashrate, believe it or not bitcoin is overprotected at this point, so if we lose the weight on our shoulders that the chinese monopoly is, it will be positive contrary to popular belief.

Wonder what's the "trusted source" they have but these big names which suddenly appear and saying that bitcoin mining will not be banned just seems fishy tho, atleast from my opinion.
are they trying to make bitcoin's price go higher again after making their wallet full of bitcoins? this is just pure speculation of mine.

This is the great news and the rumors did wrong bitcoin prices and after all spokesman said it’s not true, this bring some pleasant air for the investors, Chinese are wise nation they cannot ban such a profitable coin just without any reason they know this coin can give them strength also their economy can earn some boost.

[dothebeats]

Currently only one thing is sure : bitcoin mining brings money and jobs to China.

Yep, and I think that they (investors) are just playing mind games to the rest of the world thinking that they could outsmart everyone and cash it off of their fears.


Charlie stating that he haven't traded with the news seems like he's also guilty in part and is now trying to make bitcoin's state in China look good to somehow boost the price. I could be wrong though, but I think Charlie Lee is involved in this orchestrated FUD and is also trying hard, along with other names, to increase the price and cash out again.

[futuret]

Currently only one thing is sure : bitcoin mining brings money and jobs to China.

Yep, and I think that they (investors) are just playing mind games to the rest of the world thinking that they could outsmart everyone and cash it off of their fears.


Charlie stating that he haven't traded with the news seems like he's also guilty in part and is now trying to make bitcoin's state in China look good to somehow boost the price. I could be wrong though, but I think Charlie Lee is involved in this orchestrated FUD and is also trying hard, along with other names, to increase the price and cash out again.

It is really bad I don’t know why people are spreading the rumors about it. The price and the value of the bitcoin are very high and same the value of the bitcoin is. The person you are talking about put all the bitcoin user of the china into a wet blanket. It is the bad thing I wish soon it will be clear to everyone and it will make the bitcoin go high again.

[teejayrichard2]

I have always known this China bitcoin mining ban rumor is fake right from time. I think it was just a plan to cause panic so people dispose their bitcoin at careless prices

[Michael-crypto]

Mining makes China a big player in the Bitcoin environment. It would not be wise to ban Bitcoin mining while you are a major player.