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Author Topic: Tomorrow, All Chinese Exchangers are going to shutdown  (Read 660 times)
tscen
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October 30, 2017, 11:09:48 AM
 #1

1/11/2017 is the dead line given by China authority, major Chinese Exchangers are going to shutdown tomorrow.
Any one telling you something is re-opening in China or China gov is secretly allowing crytos trading or Chinese unicorn is farting out new exchangers, are fudders.

okcoin.cn:
"从10月31日24时起,OKCoin币行(www.okcoin.cn)将停止人民币和比特币交易,大家可以随时提现人民币至自己的银行卡;对于数字资产,大家也可以提现至其他平台或钱包。"
"from 31/10 24:00 okcoin.cn stops CNY/BTC trading, go withdraw now!"

huobi.com:
"公告:关于火币网(www.huobi.com)10月31日停止交易的公告"
"huobi.com stop trading after 31/10"

btcchina.com:
"2. 比特币中国将按照9月14日公告所示,准时在9月30日中午12:00关停一切交易,包括人民币和数字资产的交易,以及币币交易;
3. 平台数字资产及人民帀的最终提现截止时间为10月30日中午12:00;用户如不想保留数字资产,请尽快兑换成人民币再进行提现;"
"Last warning, deadline for you to withdraw is 30/10 mid 12:00"

Some of these exchangers recently registered aboard with new domains trading USD Tether/BTC pairs, they don't accept CNY deposit nor Withdrawal, they might not even accept clients from China and US. in fact, they can't even accept USD deposit directly, that's why they go for Tether. such as:
huobi.pro by huobi.com
okex.com and okcoin.com by okcoin.cn
etc..

Remind everyone here, these fake foreign exchangers are operating under the same people in China, China gov can raid them over night. be caution trading on any of them. tether.to is also risky to be cracked down by the US authority just like btc-e code, using ".to" domain to get away from domain seizing by FBI & VeriSign is good but that's not enough, use it at your own risk.

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October 30, 2017, 11:15:03 AM
 #2

Tether's probably the biggest threat to crypto's well being at present. And questionable operations mindlessly adopting it are only going to hasten its demise. Presumably Tether have no say over where it's traded. They could do with a veto I think.

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October 30, 2017, 11:18:38 AM
 #3

Nah, I already think that if they are going to allow its exchanges to open again, its not gonna be too soon. Maybe in 2018, but not this year because how will the Chinese looks at the eyes of the investors or even another nation? So if they really going to shut it down so be it. We are now doing just fine without the Chinese influence so I must say that we can continue to march towards the end of the year without them much better.
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October 30, 2017, 11:37:22 AM
 #4

How about those news that saying some exchangers there will resume the service?
Is that deadline only for the exchanges that didn't meet the "requirements" given by the chinese government?. And also, I'm agree with you that those exchange but with different domain can be taken down asap by government, kinda risky I must say right now trading in exchanges that is still china based.

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warrior333
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October 30, 2017, 11:46:42 AM
 #5

What will change? China probably wants to attract investment in the country. If the exchange will change bitcoin to yuan that this only removes money from the economy. Now the Chinese will be forced to change cryptocurrency on the dollar and then China has to change the dollar to the yuan. The Chinese are smart people and are trying to derive maximum benefit from what other governments are losing.

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October 30, 2017, 12:09:59 PM
 #6

good.
so now we know why the price is rising, we are finally getting rid of this cancer called Chinese exchanges and all their price-blocking bitcoin. even if is temporary before the come back and start everything from scratch.
even a couple of months of China-free bitcoin is a good news for me. we can see a nice market shaping up and since this is the second time Chinese exchanges close and nothing changes in the world we may hopefully see the China FUD put to rest.

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October 30, 2017, 12:16:15 PM
 #7

good.
so now we know why the price is rising, we are finally getting rid of this cancer called Chinese exchanges and all their price-blocking bitcoin. even if is temporary before the come back and start everything from scratch.
even a couple of months of China-free bitcoin is a good news for me. we can see a nice market shaping up and since this is the second time Chinese exchanges close and nothing changes in the world we may hopefully see the China FUD put to rest.

This is probably the scenario but I don't tink this is the end of story with exchangers in China. Many of them will open up again very soon, they don't want to miss their part of enormous profit. Buta also I don't think this is something that we should worry about because it will not influnece the bitcoin market that much. Bitcoin is at the moment resilient enough to survive something like this even without huge consequences.
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October 30, 2017, 12:24:18 PM
 #8

Hmm, I can't even discern if this is good news or not. At the very least, I don't think this will affect bitcoin's price too drastically, because I assume most Chinese holders already dumped at the beginning of the uncertainty.
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October 30, 2017, 12:24:31 PM
 #9

The market doesn't seem to care at the moment.  We are moving past 6000 USD once again and we could be on our way to 7000 USD by the therd week of November and even before that.  That's a big f*ck you to the Chinese government imo.  Grin

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October 30, 2017, 12:25:49 PM
 #10

good.
so now we know why the price is rising, we are finally getting rid of this cancer called Chinese exchanges and all their price-blocking bitcoin. even if is temporary before the come back and start everything from scratch.
even a couple of months of China-free bitcoin is a good news for me. we can see a nice market shaping up and since this is the second time Chinese exchanges close and nothing changes in the world we may hopefully see the China FUD put to rest.

This is probably the scenario but I don't tink this is the end of story with exchangers in China. Many of them will open up again very soon, they don't want to miss their part of enormous profit. Buta also I don't think this is something that we should worry about because it will not influnece the bitcoin market that much. Bitcoin is at the moment resilient enough to survive something like this even without huge consequences.

Of course they don't want to miss the hype train, but if their government says no, then what can the exchanges do?

I totally agree with Pursuer, we are all good with China free bitcoin, its gonna be almost a month now since that faithful day so I guess everything now is very smooth with the FUD coming from them. We are already riding on a waves of investors putting money in the ecosystem, we don't want to have something like a disruption now. Bitcoin market is flawless without the Chinese around.
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October 30, 2017, 01:10:48 PM
 #11

I wonder if this is the reason for bitcoin's rise? People with money in the exchange are converting to bitcoin and transferring to their own wallet.

Or the exchanges are using their own funds to buy bitcoin and transfer to their own wallets, which they will cash in later on other foreign exchanges (or do an over the table deal to sell).

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October 30, 2017, 03:59:10 PM
 #12

These shit exchanges need to close, all is going good we don't need to worry because bitcoin is already flying high even after the China's ban.
What i believe these type exchanges were hurdles in the way of growing bitcoin, using tether under new domains will create a bad impact and will effect the crypto trading.

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October 30, 2017, 05:33:42 PM
 #13

Im confused. Wasn't the shutdown already taken place last month? Im tired of the chinese talking about exchange bans, they first make an statement, then a statement about the statement, then a deadline, then a statement about the up and coming deadline... it never ends.

In any case, the huge dip towards high $3000's was it. IT was priced in already, so this is irrelevant. Anyone that had money in China already moved it elsewhere or dumped for chinese fiat.
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October 30, 2017, 06:06:09 PM
 #14

Im confused. Wasn't the shutdown already taken place last month?

The majority, yes. But not OKcoin and Huobi. They got a month long reprieve though I really don't know why. Perhaps they had more to unravel. They were also the exchanges who were playing with customer funds with shitty investment schemes so perhaps they wanted more time to torture them.

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October 30, 2017, 06:40:29 PM
 #15

So this means we should be expecting a crash, or does that just mean that the Chinese will start trading elsewhere?

Also, since most of the exchanges were already shut down is this even news?

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October 30, 2017, 06:47:59 PM
 #16

So this means we should be expecting a crash, or does that just mean that the Chinese will start trading elsewhere?

Also, since most of the exchanges were already shut down is this even news?

The crash happened when the news broke weeks ago. It's no longer news. It's been and gone and been put to bed.

At present the Chinese are trading P2P with sites like Localbitcoins but I assume its days are numbered too.

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October 30, 2017, 07:12:11 PM
 #17

They will be shutdown for now, alternatives will pop-up. The government can control a lot, but there are smart enough people who develop methods to find a by-pass solution.
I don't believe this ban will stop Chinese from investing in BTC.


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October 30, 2017, 07:16:05 PM
 #18

They already do this before and they are planning to  try this again.. hope this is just a fake news since i still don't see any news outside of this forum .. if we see big news again posted by trusted news blog that is our signal that the price will huge drop again..
Well i think we don't need to be worry if they close exchanges again in china since we already experience this before i think it will be still the same result in the end.  So we don't need to be worry instead focus on investing more bitcoin for coming fork in november.

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October 30, 2017, 07:51:40 PM
 #19

Something strange happens in China...I hope what this situation soon stabilizes.

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October 30, 2017, 09:51:37 PM
 #20

We dont really know what is happening on China and the whole government in there, but it is a very strange scenario, i hope that it would be fixed soon. anyway, there is no way that they can shut down all the exchanges that are on China, because it is almost impossible to realize..
but yes, i think that this situation will go back to the normality in a few months once that this mess gets solved.

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