How could Chinese people trade cryptocurrency after it is banned by Gov?

[LokBTC]

OTC is the solution, I'm a Chinese translator that translated the WP, ANN and Bounty thread of Arousal. Their exchange first adopted OTC + Exchange mode and could realise '0 confirmation' when transferring BTC/ETH( Or USDT I guess) between OTC and Exchange. The 'Guarantor Mechanism' can also solve the trust issue for OTC. That's what in their WP says. As far as I'm considering, this mode can not only solve the problem of China but can also be used in the worldwide. Their Early Bird ICO just finished and received over 70% of hardtop. Although platform will be launched in one month with next stage ICO, you could still expect for that. The information from: English ANN, English Bounty, English WhitePaper, 中文主线程，中文奖励线程，中文白皮书.

[Btttyaman]

Hi there, thanks for that, I'll have a look

[Btttyaman]

Will BTC over 10,000 us dollar this year? It's crazy.

[Hichi]

the good things about Bitcoin is that it's decentralized, so even if governments do try to ban it, people will always find a way to exchange the coin. What governments can control are exchanges for example, they might be able to close an exchange by raiding their officer/prosecuting the owners etc., but they are not able to stop P2P (peer to peer) payments. User can still send one another the coin and it impossible arrest everyone who participates in this, because there are millions of users who do it. Probably China will smooth out its stance towards crypto's as time passes by, but they'll never be able to completely close the pandora box that has already been opened. It's just not something that can be regulated, it's designed in a way that makes it impossible.

[DrYM]

They won't be able to completely ban the use of the currency, but they will be able to significantly limit the capabilities of people to put money into exchanges (money transfers, credit cards, etc). When you block those, it makes it more difficult to buy the currency to begin with.

[Btttyaman]

the good things about Bitcoin is that it's decentralized, so even if governments do try to ban it, people will always find a way to exchange the coin. What governments can control are exchanges for example, they might be able to close an exchange by raiding their officer/prosecuting the owners etc., but they are not able to stop P2P (peer to peer) payments. User can still send one another the coin and it impossible arrest everyone who participates in this, because there are millions of users who do it. Probably China will smooth out its stance towards crypto's as time passes by, but they'll never be able to completely close the pandora box that has already been opened. It's just not something that can be regulated, it's designed in a way that makes it impossible.

Hi there, that's true, people can always find a way. So I'm actually finding a way to use my CHY to join in the crypto currency transactions.

[Btttyaman]

They won't be able to completely ban the use of the currency, but they will be able to significantly limit the capabilities of people to put money into exchanges (money transfers, credit cards, etc). When you block those, it makes it more difficult to buy the currency to begin with.

Yup, the access for people to get involved in the crypto transaction is limited.

[clfliper]

But what's the reason for Chinese government to ban Crypto? It's non-sense

[kandholabhavna]

Do not worry much about it. They are just talking some time to re access the entire situation and I am sure that they would open trading for all the alts once again. Also I believe that China would follow the footsteps of Russia and soon have its own crypto currency.

[Btttyaman]

Do not worry much about it. They are just talking some time to re access the entire situation and I am sure that they would open trading for all the alts once again. Also I believe that China would follow the footsteps of Russia and soon have its own crypto currency.

Thank you for your help. I wish the day will come soon. So I'll use OTC as the solution then.

[Pab]

Crypto is baned in China notfor chinise people,there is not exchange what is blocking chinise ip,you thik that chinise pools are not selling btc,chinise may even open account at Spetrocoin,get iban number,deposit yuan and buy crypto,Huobi is opening in Korea,That China ban is something political,will be new PBOC chairman,China fight against corruption,There is 1mln300k people suspected,big fishes and small administration workers,not possible on the west

[Btttyaman]

Crypto is baned in China notfor chinise people,there is not exchange what is blocking chinise ip,you thik that chinise pools are not selling btc,chinise may even open account at Spetrocoin,get iban number,deposit yuan and buy crypto,Huobi is opening in Korea,That China ban is something political,will be new PBOC chairman,China fight against corruption,There is 1mln300k people suspected,big fishes and small administration workers,not possible on the west

that's true, hope everything be better.

[Btttyaman]

But what's the reason for Chinese government to ban Crypto? It's non-sense

Some political issues. They are worrying about money laundering.

[Biitcoin]

Every day, the number of organizations that give preference to digital gold is growing. Bitcoin pays more than 100 thousand establishments. You did not know that there was no gold reserve? The society does not know what the dollars are printed for, and how many of them are printed. On the account of China, here is not so simple. I assure you that these are rumors for speculation.

[bright4mech]

This is a good thing. China can no longer play with the markets by banning Bitcoin. Crypto-currency cannot be killed by any "country".

the buying of crypto coins using Chinese Yuan and the trading of coins, they will continue to operate international-facing
exchanges and other associated services. Markets like Japan, Korea and the U.S. have emerged to account for the lion’s share of global trading volumes,
 so the impact of this China ban is not as severe as it initially may seem.

[cyptx51]

Zencash is aiming to create a privacy platform, not only a privacy coin.  I wonder how this coin is being viewed by Chinese investors.

[Btttyaman]

I think some OTC are doing a really good job

[digaran2]

now many exchanges have reopen their exchange outside the china and support coin-coin trade!
but it is still difficlut to exchange coins to Chinese Yuan!
there are some OTC groups but by this way is not safe enough and u don't know the funds from where !

[Yoshinoya]

I think cryptocurrency can not be kill by any country and no one can ban bitcoin.
Trades can trade through world exchanges.

[Dluretic]

There are always options, such as OKEX and huobipro, which can be paid for in RMB, and there are many private transactions that can be purchased only if they want to buy it.