talkbitcoin
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All I know is that I know nothing.
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October 07, 2017, 12:09:10 PM |
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China and bitcoin are inseparable. or at least it looks like it.
bitcoin is being used a lot more than the government can do anything about it and stop it. so the only option that is left for the government is try and take as much control back as they can.
they do it through regulating the exchanges and trying to put them on leash so they can control the flow of money in and out of them and watch it closely for money launderers.
it happened before and it will happen again.
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"There should not be any signed int. If you've found a signed int
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change it to unsigned int." -- Satoshi
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audaciousbeing
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October 07, 2017, 12:35:38 PM |
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I had known this is what will happen eventually and that is why there is no official statement from them concerning the ban. What j think sent some warnings to them was because the moment the rumor was going round, it was equally creating another opportunity for countries like Japan and South Korea ready to fill the gap created by their proposed exit even before announcement. That alone is enough to make them have a change of heart. Another is looking at the future because the moment they are able to lose the number 1 spot finally, its never coming back to them and bitcoin is not stopping so not to sound hypocritical, they had to come with more spinning of regulations which we all know was not the plan initially. |
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matuson
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October 07, 2017, 01:30:58 PM |
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It seems to me that it is too early to rejoice. If the Chinese government will start to control the cryptocurrency market could lead to falling prices. We understand that this is done in order to take taxes. Accordingly, increasing the price of mining. The rise in the price of the transaction. Many negative consequences of this step can be. They will definitely affect the price.
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mobnepal
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October 07, 2017, 01:46:51 PM |
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They might issue new type of trading license for bitcoin exchanges which will have many requirements and restriction. Big banks and relatives of government officer will get those licenses and entrepreneurs will be left behind.
Chinese government is losing so much in taxes because of peer to peer trading so all this chaos they have created by banning bitcoin trading platform is just their strategy to buy some cheap bitcoins and issue license to their relatives and big banks.
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severaldetails
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October 07, 2017, 01:57:40 PM |
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I don't think that bitcoin has a problem with China as long as it is not concentrated there.
Last year a large majority of the trades were made in exchanges based in China, that is not good for a currency that is based on decentralization.
But if they have no exchanges at all, we miss the opportunities their market brings.
After all, the only thing chinese government can regulate are the exchanges in China.
And if the importance of chinese exchanges is small, the influence of chinese government is small as well.
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xianbits
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October 07, 2017, 02:06:27 PM |
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This is a very great news. So China has now realized that they can't really control crypto trading since there are those who do it peer-to-peer. Good thing they have thought of the KYC and AML systems which can prohibit illegal/criminal acts related to bitcoin rather than totally banning everything. For sure, the price will skyrocket anytime soon. |
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salihno71
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October 07, 2017, 02:51:40 PM |
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China will probably try to tax the transactions in some way, maybe trough additional fees on the exchanges. They generally like to control whatever happens on their turf so this is no exception but on the other hand they don't want to fall behind by completely banning any trade. It looks like someone is really paying a close attention on the topic in chinese government.
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Almat
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October 07, 2017, 02:53:24 PM |
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That's excellent. I read somewhere that a lot of Chinese holders dumped when they heard the news of shutting down exchanges. This means it's very likely of them to buy back in. Time to get back to $5000!
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Rinder
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October 07, 2017, 02:54:18 PM |
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All people had received the ban of exchanges and ICO as China were against bitcoin and crypto, but the real thing is they only stoped those for a while to legalize all companies involved into the crypto world, soo we can assume they had a huge impact at the price, soo maybe we will see a wave of demand for bitcoin once those exchanges back into the market.
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Freezingel
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October 07, 2017, 02:59:07 PM |
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Thought that this will happen, but way earlier than my prediction. I thought they will allow exchange to operate again by 2018. Bitcoin is huge in china there's no way they will throw that away.
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luffy7
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October 07, 2017, 03:13:21 PM |
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Great. Now more China people will believe and use bitcoin more. People are afraid of unregulated stuff. To da moon!
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Barcode_
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APP下载sbapp.io
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October 07, 2017, 03:13:47 PM |
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This shows that even the 2nd largest economy country in the world can't stop bitcoin in any way, banning crypto-currenices exchanges operating in china is just a bad decision made by the Chinese government, and they realize their citizens are still able to purchase and trade crypto-currencies in other ways, so it is still a better idea to regulate the crypto-currencies exchanges and allow them to operate legally in China.
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tundexijim
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October 07, 2017, 03:14:15 PM |
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True, I know China will surely come back.
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Md Saad
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October 07, 2017, 03:20:31 PM |
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I think so, they had an intention to regulate the cryptocurrency sector. but a lot of people have left due to this reason. but China has to come back this platform for the sake of their population. I think Chine will surely come back to this platform in the near future.
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dothebeats
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Cashback 15%
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October 07, 2017, 03:26:51 PM |
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That's excellent. I read somewhere that a lot of Chinese holders dumped when they heard the news of shutting down exchanges. This means it's very likely of them to buy back in. Time to get back to $5000!
Or maybe the other way around.  Most big names on Chinese probably held and just added more fire to the burning mess that was the FUD on Chinese exchanges. They were indeed successful on causing a massive price dump from uncertain holders, and have now accumulated enough to pump the price to higher highs again. Also, isn't it shady that after everything is going well, these Chinese regulators comes back and wants to "reconsider" their decisions? Pretty cool huh? |
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cpfreeplz
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October 07, 2017, 03:32:22 PM |
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I love how people say crap like "China feels like..." or "China doesn't want to miss out..." you do know that you're talking about a country right? They don't all blindly buy and sell bitcoins in China. There are a lot of users but that doesn't mean the country as a whole gives a crap.
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buwaytress
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October 07, 2017, 04:08:40 PM |
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Of course, everyone will now be coming out to say they knew this all along, even though the weeks of selloffs would seem to indicate that the power of rumour still outstrips that of news in trading. At any rate, the Chinese authorities stands to benefit from moving down this path in several ways. First, they could have smoked out the ones they were really after in trying to mitigate capital flight. Second, they can learn immediate lessons from neighbour Japan's already ongoing regulation of exchanges. Third, they will come to learn a lot more about crypto and mining from their discussions and negotiations with these stalled companies. Wins all around, but probably already priced in buy those who bought the dip.
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Svelto
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October 07, 2017, 05:56:27 PM |
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Thank you for sharing this piece of good news. This is what I am expecting too. Why shall the China government ban crypto currencies, it is a lucrative business. Once the exchanges are regulated, China can monitor and control its residents easier and earn more from taxes.
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Vikingr
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October 08, 2017, 11:08:12 PM |
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I don't think that bitcoin has a problem with China as long as it is not concentrated there.
Last year a large majority of the trades were made in exchanges based in China, that is not good for a currency that is based on decentralization.
But if they have no exchanges at all, we miss the opportunities their market brings.
After all, the only thing chinese government can regulate are the exchanges in China.
And if the importance of chinese exchanges is small, the influence of chinese government is small as well.
They will be welcomed by the bitcoin community they banned bitcoin on the serious concerned and the problem they were suffering and as all of them are sorted out they will like to continue because they know about its world they admit the importance of world and their rejoin will also give benefit to the bitcoin and prices will go up more and this will bring a good time for investor. |
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sublime5447
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October 12, 2017, 04:47:59 PM |
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Bitcoin can be shaken by a country just like what the Chinese government did yesterday but Bitcoin proved to have market power and showed a very good recovery because it's back to $ 4500, so it's not impossible for them to just want to test Bitcoin. they are worried about their citizens because many of them are involved in this field and Bitcoin can also boost their citizens' economy.
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