Chinese consolidating not banning (intent to regulate and dominate)

[nikauforest]

Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.


HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence

https://www.youtube.com/watch?v=RWz1EHN8Nds

[CryptoBry]

Well, all I can say is let's see what will really be happening soon as far as the ban in China for ICOs and Bitcoin exchanges can be concerned. Certainly, if they are really planning that way then China is always welcome to be back to the cryptocurrency bandwagon as we know that China remains a big and important market. Let's hope that this is just another fake news or just another bad speculation without basis.

[davis196]

Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.


HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence

https://www.youtube.com/watch?v=RWz1EHN8Nds

I think that we should stop talking about China.The bitcoin community is more independent from Chinese exchange platforms and miners than never before and this is something good.
Regulation and domination from the chinese government and the PBOC aren`t something good and i don`t care if there`s a difference between more regulations and a direct ban.They are both bad for the cryptocurrency users in China.

[Wind_FURY]

OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire.

[avp2306]

OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire.

That's what Chinese wants that's why they regulate those exchange but they will fail unto this since bitcoins is the main crypto by majority of the people specially with chinese guys there. And Chinese government will realize it as soon as they will see that no one grabbing there coin and threat this as just another altcoin build.

[snedyolo]

Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.


HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence

https://www.youtube.com/watch?v=RWz1EHN8Nds

They should not really ban it. I mean for me, nothing is wrong with bitcoin mining or any other activities or services involving bitcoin. They should at least study the system, implement it, and then decide whether it is good or bad.

[Reatim]

Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.


HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence

https://www.youtube.com/watch?v=RWz1EHN8Nds

HuoBi & OKCoin is not yet close and was given up to the end of the month because they have a lot of user based and its hard to liquidate in time. I don't know to "dominate" but if their exchanges came back to operate then it will be "regulated" by the Chinese government. They want to know who are putting big cash and who are the whales you are trying to manipulate the price from behind. Maybe a tougher KYC/AML regulations will be put up by them.

[White sugar]

It is old news, at least for the most watchful people.

Most mining power is in China, and the hashpower isn't dropping and the regulations spoke about new licenses and stuff, not criminalization. Only the media spoke about bans and stuff.

[DaMut]

actually they did not 'ban' their citizen or exchanger to trade it in there,
but they're telling them to 'stop' it at the moment because they want to regulate their exchanger.
just like japanese did to their exchanger,
unlike chinese they did it carefully and smoothly,monitoring it for a few months and then try to reach it step by step.
some fudder take that action as an opportunity to trigger the market.
for your info,there're no public statement from chinese goverment regarding Bitcoin exchanger and trading Bitcoin.
which mean everything that we heard about banning the Bitcoin is totally fake.
(i mean,they will not ban it forever just stop it at the moment to regulate their exchanger.thats it)

[Fortify]

It seems a strange way of "consolidating" when they have closed down one of the biggest Chinese bitcoin exchanges around. They might not ban it outright, but if they make it hard enough for regular Chinese users to cash in and out, then that might persuade them to not enter the cryptocurrency market at all.

[gentlemand]

The thing I find a little strange is OKcoin and Huobi getting the reprieve when they played with customer funds in shitty looking investment schemes.

I cannae believe the authorities would single them out as the chosen ones when they've taken the disgusting piss like that.

[Pursuer]

meh, I wished the Chinese do go away this time.
but apparently this time I won't get my wish either. they are going to stay like always and continue to be involved in bitcoin. we just have to count the days until next time the same thing happens and the same FUD of China banned bitcoin bullshit starts up again so we can buy more cheaper coins by that time too

[YuginKadoya]

I think that the Chinese Government are rolling out fresh regulation of Cryptocurrency in the coming months and their gonna permit licensed brokers to operate, there are a possibility that china is still engaging in bitcoin and other cryptos, and there are not confirmation that they are surely banning it out from their country so expect that we can see potential increase in value.

[1Referee]

I cannae believe the authorities would single them out as the chosen ones when they've taken the disgusting piss like that.

It's impossible to keep track of the Chinese government, so it wouldn't really surprise me if this was indeed the case. I have always found these two exchanges to be somewhat different from the rest, and this might become even more clear when the government aims its focus at these specific exchanges. China doesn't really care what path it goes through, it just wants to make sure it ends up with as much control as possible, which is understandable to a certain extent. It must be frightening for governments to see Bitcoin and crypto in general only grow in size/usage. One way or another, basically every government will at some point take certain measures to gain at least some control.

[Lampaster]

After such news we saw how the price fell and kept a long time at a low level. I am sure that during this time the Chinese who spread those rumors have bought large number of coins and now they will be even easier to manipulate the market. It seems to me that it is dangerous for us all. Dreaming of freedom, we ourselves fall under the control of a monopoly of China. If they will concentrate in their hands most of the coins then they can manipulate the price like the fed is manipulating the dollar.

[iqlimasyadiqa]

I cannae believe the authorities would single them out as the chosen ones when they've taken the disgusting piss like that.

It's impossible to keep track of the Chinese government, so it wouldn't really surprise me if this was indeed the case. I have always found these two exchanges to be somewhat different from the rest, and this might become even more clear when the government aims its focus at these specific exchanges. China doesn't really care what path it goes through, it just wants to make sure it ends up with as much control as possible, which is understandable to a certain extent. It must be frightening for governments to see Bitcoin and crypto in general only grow in size/usage. One way or another, basically every government will at some point take certain measures to gain at least some control.

So everything is very clear. China's decision a few weeks ago just to be able to control the bitcoin in their chosen exchanges. there is little conspiracy and benefit some parties only. but take its current positive value that bitcoin can survive and bitcoin prices start increasing again to the positive lane. the Chinese government has made us bitcoin users into confusion all along.

[Idrisu]

Here is a good explanation of what is happening and not happening with the exchange ban. Essentially Chinese authorities are consolidating the industry with the intent to regulate and dominate.

Definitely not banning as the FUD would lead you to believe. This is from the perspective of a western business man, having had companies in China.


HuoBi & OKCoin Chinese Cryptocurrency Exchanges will NOT Close, Digital Yuan to Commence

https://www.youtube.com/watch?v=RWz1EHN8Nds

Chinese regulations authority will not ban bitcoin!  We have been saying this several times and many whales has seen this as an opportunity to dump bitcoin and later buy at a cheaper price. If we should read in between line we would find out that bitcoin has not be banned and China government might has just taken some steps to bring bitcoin under the control of its agencies.

[Opquar]

OP, but no one wants the boring "digital Yuan". The people want Bitcoin. They all love the volatility, the drama and the chance to become very rich and then retire.

Haha, this is so true. China is already pretty much out of the bigger Bitcoin future right now, so it doesn't matter to us either.

[aso118]

The Chinese may be able to browbeat exchanges and ensure that trading rules are in effect. They may even propose regulations for ICOs. But they won't have the kind of control they would like, on Bitcoin. The Chinese have bent even the internet, but bitcoin might remain outside their grasp.

[European Central Bank]

every time the chinese government believes it's increasing control with measures like this it's actually ceding control over the bitcoin market.

if not already, it will reach a point where the rest of the world won't pay any attention to the stupid shit they pull any more. they're never going to have the control they want so they should end it all now.