China calling for a wider ban on Crypto currency trading ?

[burakdat]

Too bad for these chinese people as we all know how bitcoin could be part in investment and could be part also in bussiness in the near futre. Anyway I hope that they come to realize the importance of bitcoin and to respect its system. As I have heard the news from china with bitcoin that there are chinese people scamming other members of bitcoin in thier country. They created a system that could help them in thier scam activities like trading or bitcoin exchange. Well I guess if we just have to follow the system then they will not be able to do scam activities. And so far also these are alll rumors and no need to worry about.

[huanzhong644306]

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

As far as I know, China has not completely banned the cryptocurrency, but is in control.

At this time most people are panicking and selling their bitcoins, but I don't think that's a good idea.

[btcmegastar]

If they want to ban wide range of cryptocurrency they will not support the NEO coin, their thinking is completely different. Their though are to become no 1 in crypto market also, so they don't want diver their money to other counties. So they are planning for compete after Bitcoin.

[Zmaku]

I am so tired of listening to China this, China that every few days. There are ways to get around every ban and restriction, you just need to educate people.
I know that DeepOnion is using TOR network for transactions and with integrated OBFS4 and Meek protocols you can use it even in China without any issues.
I am sure that there are other cryptos that can do this in same or similar way and there will be more in the future.
History teaches us that every attempt to ban something was not successful and sooner or later people find the way around it.

[dreamer81]

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

As far as I know, China has not completely banned the cryptocurrency, but is in control.

At this time most people are panicking and selling their bitcoins, but I don't think that's a good idea.

I dont think many people are panic selling. I think a lot are actually moving their crypto assets into more secure coins like deeponion and monero.  This way china can ban all they want, but with Tor and Meek, there is no really way of stopping a rocket like deeponion.

[ivrynx]

I think this is something that is not new, since last year, we had already deal with this kind od scenario in china. China seems to just want crypto currency to be regulated to avoid scams and to not mislead people into bad investments, since there are a lot of chinese that knows how to fake soemthing, including websites and as of now crypto currency, probably this is the reason why they want to control exchanges, if an exchange had been created full of scam coins, their people might lose more money than gaining them. This type of news will again filter the market, those with weak hands will surely rely on this news in order to start a scare, thus panic selling.

[blue_nexus15]

If they want to ban wide range of cryptocurrency they will not support the NEO coin, their thinking is completely different. Their though are to become no 1 in crypto market also, so they don't want diver their money to other counties. So they are planning for compete after Bitcoin.

Continuing bad news from China about the cryptocurrency and bitcoin markets, but you still find that bitcoin and the market are still stable and growing. This shows that the market is so familiar with the news coming out of china and they no longer care about it as investors are accustomed to it.

[bohr]

At the moment I no longer believe in news from China because it's all information that aims to bring down the market and the speculators are waiting to buy the coin is extremely cheap. So if you want to join the long-term market, then you should choose a good coin and keep them for a long time and do not care about the market news.

By now, none of the government official of China have declared such kind of thing and there are people living in China who are busy in mining and trading of bitcoin and as result of this, they are actually making a very good amount of money. Thus helping the economy of their country to get better. All such kind of talking’s are merely rumors and the only purpose behind them is to bring down the reputation of bitcoin.

Even what the op said is wrong… from what the Heading said– China calls for a wide ban on Cryptocurrencies– while the news says that the PBoC (people’s bank of China) officials calls for a wider ban on cryptocurrency trading in China. So which means that they are calling for a ban on cryptocurrency trading in China, and not in the whole wide world. And from the way I have been seeing things, I don’t think it is easy for them to do such, cause it has been a long time since they started this, but they haven’t succeeded much. It might take them years to succeed.

China is actually not calling the ban on crypto currency trading, but it is banning the crypto currency mining and there are number of reasons behind all this. The most common and obvious reason behind all that is that the government of Chain is very much afraid of the consumption of the power and electricity which will be needing in mining and that they are like unable to produce this much of power in their country.

The consumption of energy by miners is not really an issue, some miners are buying exceeding energy from power plants anyway and if I remember correctly China uses coal as its main source of energy and it is a very old technology and china has huge reserves of coal so that is not really a problem, this is about limiting the freedom of their citizens and their money.

[sylance]

I remember back in late August or early September going to bed after making some trades and admiring the worth of my portfolio.  Carrying that euphoria into the morning I get breakfast and open my laptop and my heart drops to the floor.  China decided to ban crypto and the entire market drops 15%.  It recovered over the following 3-weeks, and then China decided to close exchanges and it dropped again by roughly 10%.  And again and again and again.

I think we've mostly moved beyond China but that doesn't mean China doesn't deserve crypto and privacy.  DeepOnion's latest wallet can bring crypto to their citizens with TOR 0.3.3, OBSF4, and Meek.  Even if China fully bans crypto they can't completely stop decentralization.  Crypto is meant to free people from oppressive organizations like banks and governments.

[kevpantof]

I don't think they will do it. Maybe they just publish this news to make cryptocurrency investors feel panic then they will sell all their cryptocurrency cause they're afraid that the price of the whole market will go down because of this news. But this is not the first time China says that they're going to ban cryptocurrency so I think we no need to worry about it.

I am not really sure about that, but this is the People’s Bank of China that we are talking about. But one thing for sure is that whatever action they take today or tomorrow, won’t affect other countries, except China. PBoC Official is only calling for a complete ban on Cryptocurrencies in China and not the whole world. They have no right to tell others what to do, they can only give orders in their country and not everywhere. Another thing is that there is no reason for us all to panic, whether Change  stands with us or not, it’s our decision that determines what happens next.

[CheatingCoins]

I don't think they will do it. Maybe they just publish this news to make cryptocurrency investors feel panic then they will sell all their cryptocurrency cause they're afraid that the price of the whole market will go down because of this news. But this is not the first time China says that they're going to ban cryptocurrency so I think we no need to worry about it.

I am not really sure about that, but this is the People’s Bank of China that we are talking about. But one thing for sure is that whatever action they take today or tomorrow, won’t affect other countries, except China. PBoC Official is only calling for a complete ban on Cryptocurrencies in China and not the whole world. They have no right to tell others what to do, they can only give orders in their country and not everywhere. Another thing is that there is no reason for us all to panic, whether Change  stands with us or not, it’s our decision that determines what happens next.

Yes this is right, but one thing that I have slight concerns about is that China is not small market at all, if we look at crypto I am very sure that each and every one of us wants China in the game. In my opinion there is solution, crypto currency projects like DeepOnion for example keeping up with latest trends and setting up usage of latest TOR, as well as OBFS4 and MEEK protocol make it much easier for users to use and get into crypto market without any hiccups or fear. Governments are there to protect their citizens, but not sure if that is always the case. Regarding FUD on crypto from China I think everyone is used to it by now and there are not much reactions as before to it (to each and every news article).

[Wolfwar]

I remember back in late August or early September going to bed after making some trades and admiring the worth of my portfolio.  Carrying that euphoria into the morning I get breakfast and open my laptop and my heart drops to the floor.  China decided to ban crypto and the entire market drops 15%.  It recovered over the following 3-weeks, and then China decided to close exchanges and it dropped again by roughly 10%.  And again and again and again.

I think we've mostly moved beyond China but that doesn't mean China doesn't deserve crypto and privacy.  DeepOnion's latest wallet can bring crypto to their citizens with TOR 0.3.3, OBSF4, and Meek.  Even if China fully bans crypto they can't completely stop decentralization.  Crypto is meant to free people from oppressive organizations like banks and governments.

It is already clear that the Chinese Government will not leave crypto currency users alone. Thus, it is necessary to go beyond China and what is happening today is happening. Even Japan can be taken as an example, as a good counterbalance to China.

[Silberman]

China is always very strict with their politics, the government has an enormous task leading and serving over 1 billion people, I believe this is the reason why they are more cautious than other countries with Cryptocurrencies, although I hope they won't adapt a ban policy, would be a huge punch and setback for this technologies.

It is not only the amount of population they need to govern it is also about the type of government they have, China is under communist rule and even if they are not as oppressive as they were in decades in the past it does not change that fact, so they are every worried that something like bitcoin will allow people to escape from the harsh control they have.

[JJack@]

No need to panic whatsoever, if you just hold on to your longterm holdings you are going to be fine imo ( if the projects are great )
If we look at a projet like DeepOnion for example, why would I ever want to sell this altcoin if i know it is going to be a great deal one day? It has great features, developers and a community. Cant go wrong with this one IMO so why panick?

[Sengoko]

If they want to ban wide range of cryptocurrency they will not support the NEO coin, their thinking is completely different. Their though are to become no 1 in crypto market also, so they don't want diver their money to other counties. So they are planning for compete after Bitcoin.

At present, china id amongst those countries who are having the maximum number of traders than most of other countries in the world and I am very much sure that this number will keep on increasing in the future as well. Chins is not banning the trading of any of the crypto currency. However, china has banned the mining of the crypto currency and that too just because of their own power issues.

[makoer]

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

Don't worry, bitcoin will get better. It belongs to the world.

[Cindung]

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

Client in the set of banning bitcoin. Earlier China shut down a major mining pool. This really bit damaged bitcoin growth while this happened. But if you look at on the other hand, we have other new countries like RUSSIA and ASIA have adapted bitcoin within their countries. They legally declared and accepted bitcoin.

Bitcoin growth is going to affect the country economic climate. You can take this in two ways. This kind of would affect current fiats value, or if bitcoin is accepted, the respectable country is going to have a massive progress in wealth. Not only the country, but also the citizens as well.

[Riverviwa]

After Korea, now is China. Nice. I hope it is just temporary.

[TheROBER]

I don’t think it is a very smart move. They should not do it.

[Simplyield]

Really? Good for them. We still can access it so I don’t care.