If Bitcoin goes past $5000, what will the Chinese government do?

[NorrisK]

It doesn't matter what China will do. The more the say stuff will happen, the more resilient bitcoin will become.

It's just a matter of time before no ban news will impact bitcoin at all anymore.

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[stompix]

North Korea might be able to enforce whatever the threadstarter has mentioned but you might see an island wide protest if China tries to do that. Anyway on a more serious note, there's no government that doesn't like money so saying things like they hate Bitcoin is just bull****. The cryptocurrency industry is a multi-billion (or even trillions) industry. They just need regulations to "keep things under control"

I don't have a clue what a "island wide " protest is..but still..
Protests in China? Have you forgotten Tiananmen Square ?

I really want to see the guys that will take part in the protests after 6 months. But probably I will have to visit their graves.

And no , bitcoin is not a trillion industry. It's just a few billion and the main part  is located in Europe and US.
China has miners, and that's all. Just like in the manufacturing economy, they produce socks, the western world is producing money .

[darkangel11]

They won't do anything. Their ban is temporary, so if BTC continues to be around in a year or two the ban will be lifted, regardless of the price. That is of course as long as there are no crazy fluctuations like +/- 30% value every few months. That could make the government more cautious. I think for now they are more scared of people laundering money with BTC than they are greedy, so the ban will stay regardless of the price.

[zypa]

On this link in italian they are talking about russia banning btc also.

https://mobile.hdblog.it/2017/10/10/russia-blocco-scambi-criptovalute-bitcoin/



is it true?

[darkangel11]

On this link in italian they are talking about russia banning btc also.

https://mobile.hdblog.it/2017/10/10/russia-blocco-scambi-criptovalute-bitcoin/

is it true?

I haven't heard about them planning to ban cryptos. This is speculation based on Putin's speech:
Russian president Vladimir Putin said in a meeting today that cryptocurrencies pose significant risks related fraud and money laundering.

They are thinking about regulating it. Some sources were saying they want to make their own government issued cryptocurrency. It's to early to say anything, for now there's no ban. Time will tell.

[crismass1225]

China government know what they are doing. They just protecting their people from scam company and fraud. As what you written is not true in my full knowledge. China government will not hunt you down if they were caught you talking about crypto and opening a website about crypto but they will take action to block it out. Soon when tje governmnet are ready they will back again and i know that in their come back they will be alot more stronger as what they do a century before.

[Zalfa_mui]

china may be presently regret for leaving bitcoin, maybe china will again choose bitcoin, after know bitcoin price craze. in my opinion china's decision is very stupid ,,

[TastyChillySauce00]

china may be presently regret for leaving bitcoin, maybe china will again choose bitcoin, after know bitcoin price craze. in my opinion china's decision is very stupid ,,

That's not going to happen, my friend, China when at the time they discuss that regulation, have thought about the consequences caused by their movement, as I see, China just trying to keep their economy controlled and get rid of bitcoin without even care about the value of bitcoin. Do you think China has some kind of cryptocurrency investment before they release the regulation? I think not.
They just have one purpose, to keep their economy controlled.

[ongta]

They will be banning out bitcoin too.lol
This chinese really know how to manipulate the market.

[BitDane]

Chinese had announced its plan, no matter how high Bitcoin goes, I think the Chinese government will stick to their announcement.  First they are cleaning their country of half baked exchanges, then they will implement licensing for these exchanges and require them to have it before it can operates.  Chinese government does not care about Bitcoin price but rather they prioritized their citizen concern and not be exploited by certain cryptocurrency frauds.

[Nomad88]

It´s not relevant at all. Regardless their actions against it, Bitcoin will continue to grow and get more popular. Thousands of new people are entering Bitcoin world. Some of the stay short some become new enthusiasts just like rest of us. China, USA, Russia.... They can do what they want. Bitcoin and its idea is bigger than all of them combined!

[xfaqs01]

They cant do anything to stop it instead they ride the train and make some profit by holding or buying some btc, i remember the saying " if your not with us youe againts us" 

[Ctn]

That is so funny comparison you have made here. I laughed a lot and imagined how Chinese might be looking like at this current situation when bitcoin price is 5999 USD at current time stamp. They might have got big loss in the last month only and looking at current rate prople of china could not resist themselves but just abuse the whole system that is implemented as ban on bitcoin/ICO projects. So that is a good lesson to other countries which might just be thinking about putting down the ICO or bitcoin. They will now think twice before making such rude decisions.

[humanCNC]

At present btc prices are already over $ 5000 and we have yet to see any action from China. But I want to ask what you are looking for from China. changing the decision, don't you ? If so I do not think that will happen.