China has made crypto illegal is it true?

[jafu]

is it true that China has made crypto illegal or something is that why everything has crashed so bad??? This is getting worse..

[HeRetiK]

is it true that China has made crypto illegal or something is that why everything has crashed so bad??? This is getting worse..

If you call that a crash you're in for a treat. It's true that China shut down exchanges, but that was already 4-5 months ago and only affected Bitcoin in the short term. What you are seeing right now is a market consolidation after BTC went crazy due to breaking USD 10,000,-. Things might get worse from here, but it's not the end of the world.

Welcome to crypto.

[Mrsun78]

is it true that China has made crypto illegal or something is that why everything has crashed so bad??? This is getting worse..

Omg, should we release our assets to shift another coin? It will be a huge impact on our coins & it seems they will offer a new coin of themselves. Any idea?

[sirkings0003]

is it true that China has made crypto illegal or something is that why everything has crashed so bad??? This is getting worse..

I think so. this could the major reason why the market is nose diving. Even though this will normalize, nobody knows when it will be. Meanwhile, here is the link to that ugly story of China clamp down on cryptocurrency.

https://www.forbes.com/sites/sarahsu/2018/01/15/chinas-shutdown-of-bitcoin-miners-isnt-just-about-electricity/#191b2525369b

[Timeme]

There is no real message that encrypting the currency is illegal, but it has closed all exchanges, and that is true.

[Durr_1412]

I don't agree with the above answer, today South Korea shut down all BTC and ETH exchange.
You should check the news, South Korea is the third biggest crypto market on earth.
So it will affect the crypto world certainly.

[shafi alam]

You Guyes should not be here in crypto world.
Because Its just a News,  people got panic and sell it. Lol
i mean don't you see btc pump???
So whatever is happened, don't be scared.  
Be cool and hold it.

[First77]

Omg, should we release our assets to shift another coin? It will be a huge impact on our coins & it seems they will offer a new coin of themselves. Any idea?

$3,000,000,000,000 is needed to change gold price by 5%. Gold is safest investment.

Live and fastest bullion price updates: https://www.goldbroker.com

[Darin2]

Not China. Korea is new news now.
Just buy Bitcoin and wait. You need some kind of a bad news to start the FUD.
Same thing every year.

[Furtivecoin41]

Yeah its true and its nothing new to this forum and the cryptoworld. It happened last year, what is new right now is the fear of bans in South Korea and Indonesia.

[captin crunch]

Yeah its true and its nothing new to this forum and the cryptoworld. It happened last year, what is new right now is the fear of bans in South Korea and Indonesia.

I wonder whether other countries will also follow the trend?

[penig]

aarrggh something happened, sell!

Next week something else will happen and it will go up.  Or down, who knows.  

Worse case with the Chinese situation is that miners will have to move out of China - which they are already doing. So the price goes down a bit, the difficulty may increase until adjusted, some other coins may be better.  Don't bet what you're not prepared to lose, expect wild swings in price.

[An0nyMoose]

I don't think it has been made illegal completely. Maybe the exchanges and the miners are affected. But that causes a big issue too.

They are probably going to ban the exchanges where you can trade crypto and fiat. This has already caused a crash.

They have always tried to attack the bitcoin miners before this too. So who knows what will happen now?

But yes they might make crypto completely illegal in the future.

[Pasadoble]

if any country moves against crypto i think it's just good for crypto, because it just proves the need for a currency without borders, and if anyone wants to make people stop using computers they are welcome into stone age they are taking their people into. rest of the world will move on ritcher and happier

[naily]

is it true that China has made crypto illegal or something is that why everything has crashed so bad??? This is getting worse..

I think it's just a thought to corner bitcoin, illegal bitcoin if used for gambling activities, and make market payments directly using bitcoin and for bitcoin holders there is no legal protection in the country in case of loss to bitcoin users

[Raufjoze]

is it true that China has made crypto illegal or something is that why everything has crashed so bad??? This is getting worse..

this news is a story that will make panic as bitcoin or other altcoin holders because this will make all the crypto currency decrease in value, and this will profit you you guessed it

[Dakshkapoor]

I dont believe that china has made all crypto exchanges and trading illegal. If it will be the right news then the people from china holding crypto may have to face different problems now. But this news will not make any difference in cypro trading. It will be as it was in past.

[First77]

Chinese government is encouraging investments in gold and silver 

[Loveaaronbaby]

I don't know the truth of this news, but China is an important market for bitcoin. If the Chinese government prohibits bitcoin, the impact on bitcoin is very large.

[streamstorm10]

is it true that China has made crypto illegal or something is that why everything has crashed so bad??? This is getting worse..

it is illegal to invest and buy or sell using dollar and other paper money but mining and making miners is allowed.
No you can start mining in china that make bitcoin legal in china.
you need some places or other exchange to sell bitcoin or any other crypto
it is only correction after very long rising