China calling for a wider ban on Crypto currency trading ?

[7Pro]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

I think this is the bad news which make the general price of bitcoin and altcoin become bloodbath.
But now its still recover and will continue although bad news coming

[Katashi]

so china really want to hold and keep it up?, then after this what? they really believe they are a huge factor or maybe their nation alone can tear crypto apart. which is proven wrong last year. I say goodluck to you china may the dip you are wanting cause you a lot of money but the blockchain business will continue reigning this is it's year no one can stop it.

[Baofeng]

so china really want to hold and keep it up?, then after this what? they really believe they are a huge factor or maybe their nation alone can tear crypto apart. which is proven wrong last year. I say goodluck to you china may the dip you are wanting cause you a lot of money but the blockchain business will continue reigning this is it's year no one can stop it.

They are just creating a lot of panic by releasing statement that is double standards. And then those rumor mongers will just capitalized on it by creating more FUD's and false news, creating fear among investors. That's one thing I don't like about China, as if they really want to stay relevant in the crypto currency market. But at behind they really take advantage of the situation by buying it when the price is cheap, without others knowing.

[Granxis]

China is constantly fighting against Bitcoin, in fact China is the biggest selling country of Asic Miner and therefore it is generating high profits. Moreover, China never sells new devices, but always sells old devices to customers. So all the devices we buy are originally based on time.

[DanWagner]

so china really want to hold and keep it up?, then after this what? they really believe they are a huge factor or maybe their nation alone can tear crypto apart. which is proven wrong last year. I say goodluck to you china may the dip you are wanting cause you a lot of money but the blockchain business will continue reigning this is it's year no one can stop it.

They are just creating a lot of panic by releasing statement that is double standards. And then those rumor mongers will just capitalized on it by creating more FUD's and false news, creating fear among investors. That's one thing I don't like about China, as if they really want to stay relevant in the crypto currency market. But at behind they really take advantage of the situation by buying it when the price is cheap, without others knowing.

It is also the fault of people believing in it , or maybe not even that any more . But when China fud FUD comes out people already sell because they think it will go down regardless if it is true. So if people in the market are so easy to manipulate who is China to not take advantage of that. The image they have on restricting things is helping them a lot to.

[ihsanskanzaone]

A senior official at the People's Bank of China is reportedly calling for a wider ban on services related to cryptocurrency trading in the country.

Pan Gongsheng, vice governor of the central bank, said, to prevent market risk, the government would apply more strict regulation to end all cryptocurrency trading-related activities and services. The news comes via a Reuters report today, citing an internal memo reviewed by the news agency.

While it's not yet clear whether the reported memo will become immediate policy, the news indicates the continuing severe stance taken by China's top regulators towards curbing cryptocurrency speculation and lowering perceived financial risk in the country.

for more details please visit https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/

[Fedrey]

China is constantly fighting against Bitcoin, in fact China is the biggest selling country of Asic Miner and therefore it is generating high profits. Moreover, China never sells new devices, but always sells old devices to customers. So all the devices we buy are originally based on time.

But if you analyze everything that you say, then it is very unprofitable for the Chinese government, as well as for the Chinese economy, to work in the field of crypto-currency. After all, even the devices that they sell are initially designed for users and miners.

[Oilacris]

A senior official at the People's Bank of China is reportedly calling for a wider ban on services related to cryptocurrency trading in the country.

Pan Gongsheng, vice governor of the central bank, said, to prevent market risk, the government would apply more strict regulation to end all cryptocurrency trading-related activities and services. The news comes via a Reuters report today, citing an internal memo reviewed by the news agency.

While it's not yet clear whether the reported memo will become immediate policy, the news indicates the continuing severe stance taken by China's top regulators towards curbing cryptocurrency speculation and lowering perceived financial risk in the country.

for more details please visit https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/

Thank you for the link given about that news which do really worried me of a little bit that they are already imposing stricter regulation on crypto trading which would really give some impacts on all over market of cryptocurrencies but not only that maybe other countries would really see this as an initial step again and might tend to influence other countries too. News are everywhere about strict prohibitions related to crypto-trading.

[anushkasachith888]

A senior official at the People's Bank of China is reportedly calling for a wider ban on services related to cryptocurrency trading in the country.

Pan Gongsheng, vice governor of the central bank, said, to prevent market risk, the government would apply more strict regulation to end all cryptocurrency trading-related activities and services. The news comes via a Reuters report today, citing an internal memo reviewed by the news agency.

While it's not yet clear whether the reported memo will become immediate policy, the news indicates the continuing severe stance taken by China's top regulators towards curbing cryptocurrency speculation and lowering perceived financial risk in the country.

for more details please visit https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/

Thank you for the link given about that news which do really worried me of a little bit that they are already imposing stricter regulation on crypto trading which would really give some impacts on all over market of cryptocurrencies but not only that maybe other countries would really see this as an initial step again and might tend to influence other countries too. News are everywhere about strict prohibitions related to crypto-trading.

You are welcome,  Even today I saw some one has told somewhere that Banks in India are cracking down on accounts connected to crypto exchanges and that causes the dip. there are bad and good news for Crypto right now. But i think positive news are bigger than negative ones

Every one little by little will adapt Bitcoin later or soon.
Lets hope for the best...!

[richardsNY]

So if people in the market are so easy to manipulate who is China to not take advantage of that.

That's what keeps this fud thriving. People are so stupid to fall for this, that the entities being responsible for the fud that's being pushed into the net have no reason to stop. If you do something that earns you loads of money, and that method works every time you want it to get initiated, why would you ever stop with it? It really makes no sense -- people's ignorance is what keeps fud thriving, and that will likely never change. The get rich quick noobs account for the majority of this market, which directly shows that this fud will keep affecting the market for many more years to come. On the other hand, it's a great happening for each trader being addicted to volatility, because that's what they are looking for. The frustration of one side of this market means profit for the other side.

[anushkasachith888]

So if people in the market are so easy to manipulate who is China to not take advantage of that.

That's what keeps this fud thriving. People are so stupid to fall for this, that the entities being responsible for the fud that's being pushed into the net have no reason to stop. If you do something that earns you loads of money, and that method works every time you want it to get initiated, why would you ever stop with it? It really makes no sense -- people's ignorance is what keeps fud thriving, and that will likely never change. The get rich quick noobs account for the majority of this market, which directly shows that this fud will keep affecting the market for many more years to come. On the other hand, it's a great happening for each trader being addicted to volatility, because that's what they are looking for. The frustration of one side of this market means profit for the other side.

What do you think about Indian government ban on exchanges ?

[Eleven86]

So if people in the market are so easy to manipulate who is China to not take advantage of that.

That's what keeps this fud thriving. People are so stupid to fall for this, that the entities being responsible for the fud that's being pushed into the net have no reason to stop. If you do something that earns you loads of money, and that method works every time you want it to get initiated, why would you ever stop with it? It really makes no sense -- people's ignorance is what keeps fud thriving, and that will likely never change. The get rich quick noobs account for the majority of this market, which directly shows that this fud will keep affecting the market for many more years to come. On the other hand, it's a great happening for each trader being addicted to volatility, because that's what they are looking for. The frustration of one side of this market means profit for the other side.

What do you think about Indian government ban on exchanges ?

Its really a bad and sad news that countries  banning on exchanges. Indirectly everything is inter related. There may be some valid reasons for banning bitcoin, but i would say, they are loosing a big asset that they will really regret when the crypto currencies being the main currency in developing the wealth of Russia, Japan and other countries who adapted bitcoin and other crypto currencies. Lets watch.

[BlockTechnology]

It is difficult to completely ban cryptocurrencies, but China can regulate it quite rigidly

[Silberman]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

After banning domestic cryptocurrency exchanges now they also want to ban exchanges from outside their country? so how do they implement that if people from their country can just use virtual private network to access those blocked websites, remember that facebook and google are banned in china but there are still ways to access that. I doubt that can stop people from accessing those exchanges. China have to accept the fact that they cannot stop cryptocurrency. Btw as of now south korea still didn't shutdown all exchanges on their territory, it is still a proposed ban. Read this https://www.cnbc.com/2018/01/15/south-korea-to-decide-what-to-do-about-crypto-exchanges-after-talks.html

A ban no matter who issues it, it's not going to stop 100% of the people, just look at drugs, in most countries recreational drugs are illegal and still people get easy access to it, in case this happens the ban is going to discourage citizens that prefer to stay out of trouble and those that choose to continue their activities will have problems finding ways to avoid being detected and suffer the consequences when they are.

[Waccamaw]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

China ban was 2017/4 and cause price down less than 2,000$. some exchange sites stopped.
this news being normally and have 0 effect in the market.
South Korea start same planning to regulate this market.

[Hannahanto]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

China ban was 2017/4 and cause price down less than 2,000$. some exchange sites stopped.
this news being normally and have 0 effect in the market.
South Korea start same planning to regulate this market.

Yup. Though banning taking place in few countries, obviously adaptation occurs on the other side in countries like, Japan, Russia and Singapore. The authority calls off banning. But if you look at the citizens, the percentage of traders stopped in their countries would be more, but the percentage of the same traders trading from other countries would uplift the values. Every individual who has experience in bitcoin, would never leave earning it via any source even though their respective authority brings rules against bitcoins and other altcoins.

[Quidat]

Just after the Korean news that Korea going to shut down all Crypto exchanges completely. A similar news coming from China now. here is the link for the news

https://www.coindesk.com/pboc-official-calls-for-wider-ban-on-chinese-crypto-trading-report/?utm_content=buffer291bb&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

China ban was 2017/4 and cause price down less than 2,000$. some exchange sites stopped.
this news being normally and have 0 effect in the market.
South Korea start same planning to regulate this market.

Yup. Though banning taking place in few countries, obviously adaptation occurs on the other side in countries like, Japan, Russia and Singapore. The authority calls off banning. But if you look at the citizens, the percentage of traders stopped in their countries would be more, but the percentage of the same traders trading from other countries would uplift the values. Every individual who has experience in bitcoin, would never leave earning it via any source even though their respective authority brings rules against bitcoins and other altcoins.

You can actually engage with it even though it is being already prohibited all over the country but you should really be careful because once caught then you will end up on bars. Banning nowadays is already a normal stuff and somehow an expected thing to happen since not all governments would really have the same treatment to bitcoin or on any other cryptocurrencies.

[ASHLIUSZ]

China supported good on the growth of cryptocurrency for a longer time period. Once after some inspection by the PBOC on various exchanges the issue arose and the same started generating of regulations on usage of bitcoin. Now this has been getting hard as days pass.

[anushkasachith888]

China supported good on the growth of cryptocurrency for a longer time period. Once after some inspection by the PBOC on various exchanges the issue arose and the same started generating of regulations on usage of bitcoin. Now this has been getting hard as days pass.

Reason was, As I think so many people suddenly came to Crypto market in end of the last year, Bitcoin price shouldn't have increased in that fast now I think. That caused the problem that we are facing now
So how do you see the future of this situation ? still positive news are greater than negative news like this for Crypto as we can see. isn't it?

[jaimepenag]

I believe that people will start to sell their bitcoins and we will see the third crash in this month, but new people are joining to the crypto world and it will recover. I hope so.. I hodl until the end....