Do you want China be back into Bitcoin?

[CryptoBry]

There is no question that China is a big market for anything and if this market can be developed well its power and influence can be felt for good. I believe that China can be a good contributor outwards the overall success of the cryptocurrency movement. Do you think we should welcome China again to the Bitcoin market?

Future of Cryptocurrencies in China

It is important to note that this ban is, most likely, temporarily. The fact is that China had already banned Bitcoin trading in 2013 and this year imposed a 4 month freeze on exchanges due to security issues. Regardless of the events, the Public Bank of China is very interested in distributed ledger technology, having devised a five-year development plan that focus on researching and developing blockchain technology. Not only that but according to some reports the Chinese government is also developing and testing their own state cryptocurrency.

In a closing note, there are now rumors that Bitcoin exchanges might be reopening. This speculation was felt in the market, with Bitcoin prices surpassing the previous all-time high of $6300. Reports indicate that the policies forbidding crypto trading were examined in the 19th National Congress of the Communist Party of China and that they might be lifted. It was also speculated that a new Chinese cryptocurrency platform, speculated to be controlled by the Chinese government, might be up and running by the 1st of November. Read more here...

[Cholo003]

If china comeback with Bitcoin it will surely increase its market value, plus china has the cheapest labore fee and electricity a very suitable location for mining.

[The_Dark_Knight]

There is no question that China is a big market for anything and if this market can be developed well its power and influence can be felt for good. I believe that China can be a good contributor outwards the overall success of the cryptocurrency movement. Do you think we should welcome China again to the Bitcoin market?

Future of Cryptocurrencies in China

It is important to note that this ban is, most likely, temporarily. The fact is that China had already banned Bitcoin trading in 2013 and this year imposed a 4 month freeze on exchanges due to security issues. Regardless of the events, the Public Bank of China is very interested in distributed ledger technology, having devised a five-year development plan that focus on researching and developing blockchain technology. Not only that but according to some reports the Chinese government is also developing and testing their own state cryptocurrency.

In a closing note, there are now rumors that Bitcoin exchanges might be reopening. This speculation was felt in the market, with Bitcoin prices surpassing the previous all-time high of $6300. Reports indicate that the policies forbidding crypto trading were examined in the 19th National Congress of the Communist Party of China and that they might be lifted. It was also speculated that a new Chinese cryptocurrency platform, speculated to be controlled by the Chinese government, might be up and running by the 1st of November. Read more here...

But we did not choose to drive China away from the world of cryptocurrencies they are the ones that decided to take actions against cryptocurrencies on their own, if they want to come back they can do it at anytime they want but they must learn that bitcoin cannot be controlled by them, they are a big influence but the moment they decide to leave there is going to be other countries eager to take their spot.

[Krishantha545]

Yes !I believe that China should back to the Bitcoin. Because they have good economy and technology in the country.And the other hand there are many mining plants are built in the country.Therefor if they come back there will be many opportunities will be create for bit coiners and it will be big support to improvement of cryptocurrency market future.

[mistanama]

China is one of the largest markets in the world and we have seen its power of being announced banned by the ICO. The result is the drops of bitcoins of nearly $ 1,000 in just one day. So if China reopens people's independence Once people use bitcoins we are really ready to prepare because the return of a country that respects is at the same time the increase  of bitcoins price.

[HabBear]

China never left Bitcoin. It's not illegal to own Bitcoin in China. It's not illegal to trade Bitcoin in China. It's only illegal to sell Bitcoin for yuan...as an exchange...in China.

And do we miss their exchanges? No. But their exchanges don't have to go away, they just have to stop serving the China market.

People are making too much of this.

[eth86]

I believe anyone has to right to use bitcoin. the value china would bring forth of course is clear; I mean they are one of the largest countries and you are basically enabling more demand on bitcoin. which means higher value.

[monkeydominicorobin]

There is no question that China is a big market for anything and if this market can be developed well its power and influence can be felt for good. I believe that China can be a good contributor outwards the overall success of the cryptocurrency movement. Do you think we should welcome China again to the Bitcoin market?

Future of Cryptocurrencies in China

It is important to note that this ban is, most likely, temporarily. The fact is that China had already banned Bitcoin trading in 2013 and this year imposed a 4 month freeze on exchanges due to security issues. Regardless of the events, the Public Bank of China is very interested in distributed ledger technology, having devised a five-year development plan that focus on researching and developing blockchain technology. Not only that but according to some reports the Chinese government is also developing and testing their own state cryptocurrency.

In a closing note, there are now rumors that Bitcoin exchanges might be reopening. This speculation was felt in the market, with Bitcoin prices surpassing the previous all-time high of $6300. Reports indicate that the policies forbidding crypto trading were examined in the 19th National Congress of the Communist Party of China and that they might be lifted. It was also speculated that a new Chinese cryptocurrency platform, speculated to be controlled by the Chinese government, might be up and running by the 1st of November. Read more here...

The question is why is it that they did not allow exchange executives to fly out of the mainland? Why are they monitoring the activities of exchange executives. Why is it that they didn't disclose that most exchange executives are not Chinese. They are in denial. Bitcoin is the only thing that can save China. They have 30 trillion dollars worth of off the books debt and they are sinking fast.

[Ljanesanti]

I mean why not? Through the existence of the Bitcoin I think China became one of the biggest factor that it leads the industry to this. Given the fact that indeed the said country is one of the biggest market , if they still going to be back that could be a good news. On the other hand before re entering again it would be better to at least in line their regulations and procedures and fix what should be done to at least avoid what happened recently. Just my thought.

[iamTom123]

I mean why not? Through the existence of the Bitcoin I think China became one of the biggest factor that it leads the industry to this. Given the fact that indeed the said country is one of the biggest market , if they still going to be back that could be a good news. On the other hand before re entering again it would be better to at least in line their regulations and procedures and fix what should be done to at least avoid what happened recently. Just my thought.

It would be safe to assume that before the government would officially open the China market back to Bitcoin, there would already be the necessary regulations and policies in place so that there would be no chaos and many questions unanswered are already cleared beforehand. As it is now, the government is losing money that they can receive from transaction tax on Bitcoin.

We all know that many Chinese are still into Bitcoin but they are just not withdrawing them to the local currency because it could mean illegal and a charge can be filed on this ground. Many are predicting that soon China can be back as one of the biggest markets for cryptocurrency and there is no question that there is always that big and brewing interest from the Chinese to participate in this big boom. Chinese people do not want to be left behind especially with something they know they can earn from as the entrepreneurial spirit is very much alive in this big country. 

[Mr.grin]

well, if china returns, maybe bitcoin price will rise again. maybe the price will reach $ 10000 in a short time. well, but that's just my prediction. whether that's true or not, for sure, china will definitely bring a change in bitcoin prices.

[winderx]

of course ! with china's acceptance, it will certainly boost bitcoin's value

[Mehedi72]

Due to a bitcoiner, obviously i want china to come  back into bitcoin. Thus the price of bitcoin will increasing more and more. Bitcoin is always my favorite currency due to just investment with bitcoin and enjoy profit by holding more if china come back into bitcoin  

[Casey7]

If china comeback with Bitcoin it will surely increase its market value, plus china has the cheapest labore fee and electricity a very suitable location for mining.

Its good if they really come back. But seeing the situation of bitcoin right now, i dont really care if they comeback or not.

[Da2ja3]

As much as it will be good for bitcoin if china steps back in, but we seem to be doing fine without them. so good riddance!!

[GreenBits]

of course ! with china's acceptance, it will certainly boost bitcoin's value

amen, and positive attitude. we cant be mad at china for this; we should kind of expect this at this point (they dont do so good with releasing news LOL) but besides the fact that they never really let up one bit on the mining throughout the entire debacle, we truly dont want to see China out of the market. despite how we may feel about the rumor mill, it didnt have a lasting effect on the price (this time) and to not include that market would be a serious step back for a adoption. that decreased demand could eventually translate to weak support down the road, and increased volatility.

[MattHoo]

China is one of the largest markets in the world and we have seen its power of enhancing the price of Bitcoin. Although the chinese government banned the ICO, china have never left Bitcoin. Their exchanges don't have to go away but using a different way to buy and sell bitcoin. Like you can buy USDT with RMB or alipay then exchange USDT with many coins like Bitcoin, ETH, LTC or BCH. lol

[TUs77777]

I think this would give a good leap in the price of bitcoin, so my answer is - Yes

[piloder]

China will be back in bitcoin trading, I don't think Chinese government will keep restricting their people from cryptocurrency trading as government was also earning quite good amount through tax before. They might increase that tax and might impose different regulation in their new trading license, so I think current ban in bitcoin trading is just temporary one.

[mondobitcoin]

I'm not from China, but i think that bitcoin is not an illegal thing, so why ban it?
If China come back to bitcoin, the price can increase, so we need to support this