China calling for a wider ban on Crypto currency trading ?

[bohr]

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

It may not seem like a smart move to us but for them this is about maintaining their grip on their citizens, they do not want to let it go, so their only option is to keep increasing the regulation until they ban all cryptocurrencies completely once that happens it will be a punishable offense to hold bitcoin, I do not think we are that far to see that scenario.

[NeverSop]

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

Many bans are issued from China but paradoxically is that China is the most crypto country, especially bitcoin, the largest crypto in the crypto market. So I believe these are the traits of Chinese investors to reduce the value of crypto coins so that they can buy them at very low prices. The market is getting familiar with the information from China and no longer respond as strong as before.

[highquA1]

I think the news is fake and China is not really banning the cryptocurrency.

[ToyMonster]

Oh damn! didn’t know that China is also doing the same thing. 

[Seetheummerallyeah]

I don’t really bother about what they do and don’t till the time its not affecting me.

[ngavanngo22]

I don't this is a legit news . There are a lot of news related to China is going to ban crypto in their country but nothing happened, I think this time is the same and it's a fake news to make everyone afraid of it. China is still supporting for cryptocurrency, especially NEO and you should know that China is the main BTC supplier for the whole crypt market all over the world

[raven7886]

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.

If you guys have been staying updated with the news, then you will know that it never damage any growth. Bitmain (largets mining company in China) has already found base in other countries that are ready to benefit from it. Bitcoin cannot keep going with an uptrend all over and over.

It will always get to that point when it would just have to test the bears power and those news are always the tactics used by the bears who want to have a hold of the market and gain from it since they have sold at the top, but some people still fall for it over and over again after all that is being said and I keep wondering why.

[Silberman]

Honestly, I wish we could move away from China because this country is worrying me somehow because of their capability to really take Bitcoin price down which is as you know the gold standard the whole crypto market is relying on...

We can move away from China, and to be more precise, we should have taken distance from China at the moment they forced their exchanges to shut down. From the moment the exchanges there weren't operating anymore, China should have lost its importance, and to a certain extent, it did lose importance. The main problem here is that regardless of what China has done against crypto, people somehow continue to pay attention to what's happening over there, and that while they have only been a problematic factor in this market. Japan is doing everything right on all grounds, but not many people are giving it the the attention that it deserves. Instead, they keep focusing on all the BS and negativity being pumped into this market to drive the price down, and it works each and every time due to the people falling for this nonsense....

Give it time, people are so used to china being important to the market they have not realized their importance has gone down dramatically in the last years and that Japan is emerging as the new giant but eventually they will realize this and we will give more weight to the news coming from Japan which is good since most of the news coming from Japan are moves in the right direction for the acceptance of bitcoin.

[richardsNY]

Give it time, people are so used to china being important to the market they have not realized their importance has gone down dramatically in the last years

How much time do people need? People were assuming that China has been an important factor due to how much volume the exchanges there were generating, which is somewhat understandable, but after the PBOC sanctions, it became clear that it was nothing more than a troll show. China's market was big due to how high frequency traders were literally ruling that entire market with an iron fist due to the zero fee structure. After the fees have been set to normal, high frequency traders lost interest obviously, and thus normal trading resumed again. Result? Very poor volumes for such a 'massive' market, which was quite a shock. It was obvious that the volumes were highly inflated, but that it was this bad, is something people just didn't expect....

[Jico79]

Are they forbidden because they are out of control? are not ! I think, because bitcoin is known to the world and accepted by investors so I believe bitcoin will pass.

[marsmyname]

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.

Bitcoin has always been better, nothing has ever happened to it, all I see is just an attempt to make some weak hands complain, get scared until they lose it and sell everything to the so called whales at the best value they have been waiting for. There is nothing they can do and by now, they should obviously know that no one is paying attention to them unless those who of course just prefers to.

[Smarty14392]

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

Temporary? How will something be temporary when it never happened? Watch news changing and you will see how tables will turn; China will come out to say they never made any decision like that and so on. It has happened several times before and the funniest part is that it will happen again and there would always be some set of people, mostly newbies, who will fall for it.

The sort of negative news that have always come out of this place, makes me to even wonder why we have not even banned China ourselves.

[streazight]

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.

The problem is that people love listening to the negative stuffs when they should really be focusing on those things that makes sense a lot and would drive them into holding more.

No one is getting how segwit is being adopted, how transactions are getting fast, how people are beginning to perceive bitcoin and the crypto space, but of course, the only thing they want to pay attention to is that China this and South Korea that until they fall into the hands of whales once they sell out of panic.

[BettingTips]

This case will never happening . In my opinion it's just a fake news to create FUD. China government isn't going to ban cryptocurrency in their country, they're still supporting for crypto and finding out the way to protect investors in their country from scam project and crypto. As you guys know, NEO is being supported very strongly by China, I don't think they'll support for NEO if they're going to ban everthing related to cryptocurrency.

[WordDeckTuch]

I am completely unaware of this and I don’t care.

[Jating]

Are they forbidden because they are out of control? are not ! I think, because bitcoin is known to the world and accepted by investors so I believe bitcoin will pass.

China doesn't like it because according to them its disruptive to their economy. But I don't know if there's truth on it or not. However, if you look at the Zimbabwe and Venezuela crisis, bitcoin has help a lot of their citizens to survived in those trying times. They used bitcoin to hedge their wealth (Store of Value) and then buy things outside.

As for China, let's forgot about them. They already cause so much control. They suddenly turn their backs on us. Only thing that they are still relevant because of their monopoly of the bitcoin mining farm. But when the government started to clamp it as well, then its obvious that they will move it somewhere and then there are other farms that might close, and its time for other countries like Japan's GMO to take the slack. So with that said, the monopoly of the Chinese miners will be lessen and in the future we will forgot all about the Chinese.

[LienTHETRADER]

Thats the last thing I am worried about and it doesn’t matter.

[anushkasachith888]

Are they forbidden because they are out of control? are not ! I think, because bitcoin is known to the world and accepted by investors so I believe bitcoin will pass.

China doesn't like it because according to them its disruptive to their economy. But I don't know if there's truth on it or not. However, if you look at the Zimbabwe and Venezuela crisis, bitcoin has help a lot of their citizens to survived in those trying times. They used bitcoin to hedge their wealth (Store of Value) and then buy things outside.

As for China, let's forgot about them. They already cause so much control. They suddenly turn their backs on us. Only thing that they are still relevant because of their monopoly of the bitcoin mining farm. But when the government started to clamp it as well, then its obvious that they will move it somewhere and then there are other farms that might close, and its time for other countries like Japan's GMO to take the slack. So with that said, the monopoly of the Chinese miners will be lessen and in the future we will forgot all about the Chinese.

I think once Monolpoly of bitcoin mining lose from China, They will be more flexible towards bitcoin. Normally that is how things go on. I am sure no one will be able to turn on back on Crypto currency. Blockchain technlogy will be the future so the cryptocurrency ?

[MondayTraddd]

I think it’s just temporary and nothing serious as such.

[StuartBTCETH]

Nah, China won’t ban it but you never know with the kind of people they are.