China will ban BTC exhangers for good

[mayax]

Now all we need is the end of Chinese mining and the most toxic player in Bitcoin history will be gone forever. I will dance on its poorly constructed grave. China has been nothing  but a cancer on every aspect since minute one. I hope it never comes back in any capacity whatsoever.

good point and let's not forget Bitfinex is cancer too. Their Tether is a plague pandemic , a fraud which will collapse soon.

[BrewMaster]

awesome news. the sooner the better.

the (blank) country banned bitcoin is starting to become the dumbest news that we read these days. every day we read about a new country. and it is sometimes so severe that the government makes an statement saying we never had any intentions of that sorts!!!
and it needs to stop one way or another. preferably with them finally banning it for real not just talk about it so we can get on with our lives and give them the middle finger they deserve and continue using bitcoin.

korea , indonoesia , now china , who next want to see bitcoin blooding

India   

at some point we are going to run out of country names that we can say "banned bitcoin".

[teejaymuna]

Hidden transactions will still go on. I think the government cannot entirely ban BTC because people will still go ahead with trad actions. Inly that the price will be very high.

[gentlemand]

good point and let's not forget Bitfinex is cancer too. Their Tether is a plague pandemic , a fraud which will collapse soon.

Yup. It's a great disappointment to me that Bitfinex hasn't been nuked from orbit. It's pretty much the final holdout from Bitcoin's seedy early phase. I only hope it has an orderly death. Its days are numbered whatever happens.

[Greenkarki]

You expressly write China bans centralized exchanges, so can I conclude that decentralized exchanges are fine? In that case, this ban isn't that bad as it seems. I'm pretty sure that more decentralized exchanges will open, because the Chinese population seems to be one of the biggest participants in the crypto community.

China will ban all the exchange websites even from outside... So, if you live in China, you won't be able to trage with Gemini or any other exchanger.

The miners are staring to close them their "business" too.  Let's not forget that China owns aprox 80% from miners.

This is something worst for miners plus traders.  I am sure this would still affect the transaction fees?  There will be so much traffic right plus transaction will be more delayed!

Values have come down,  transaction fees has gone worst,  too much delays in transaction!!! Hope the situation should change.  Heard news on Russia planning to open up mining with a huge investment?

[nioctiB#1]

A senior Chinese central banker says authorities will ban centralized trading of virtual currencies as well as individuals and businesses that provide related services.

Authorities will also block domestic and foreign websites and close mobile apps that provide centralized virtual currency trading services to Chinese users, and sanction platforms that provide virtual currency payment services.

So, bye-bye BTC in China.  

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

https://www.reuters.com/article/us-china-bitcoin/pboc-official-says-chinas-centralized-virtual-currency-trade-needs-to-end-source-idUSKBN1F50FZ

This is funny. blocking domestic and foreign cryptocurreny exchange websites will not prevent people from china to buy and sell cryptocurrencies. people can just use services that offers vpn with it they can still acess those exchanges and how about over the counter or otc market how do they stop it if it is a decentralized market? china can never stop cryptocurrency just face it.

[nicko122]

The Chinese government is only doing worse. People will look for ways to trade in crypto currency.

[gentlemand]

This is funny. blocking domestic and foreign cryptocurreny exchange websites will not prevent people from china to buy and sell cryptocurrencies. people can just use services that offers vpn with it they can still acess those exchanges and how about over the counter or otc market how do they stop it if it is a decentralized market? china can never stop cryptocurrency just face it.

Correct, but expect them to go all out on VPNs too. They've been a constant thorn in their side. I'm sure the dedicated will continue to manage it somehow but VPNs may become a lot harder to obtain soon in China. They may be monolithic but they're no dummies.

[mayax]

A senior Chinese central banker says authorities will ban centralized trading of virtual currencies as well as individuals and businesses that provide related services.

Authorities will also block domestic and foreign websites and close mobile apps that provide centralized virtual currency trading services to Chinese users, and sanction platforms that provide virtual currency payment services.

So, bye-bye BTC in China.  

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

https://www.reuters.com/article/us-china-bitcoin/pboc-official-says-chinas-centralized-virtual-currency-trade-needs-to-end-source-idUSKBN1F50FZ

This is funny. blocking domestic and foreign cryptocurreny exchange websites will not prevent people from china to buy and sell cryptocurrencies. people can just use services that offers vpn with it they can still acess those exchanges and how about over the counter or otc market how do they stop it if it is a decentralized market? china can never stop cryptocurrency just face it.

it's hard to use VPN in China.Their firewall blocks many VPN services too.

[alphaomega.f]

maybe this is one of the reasons of the drastic decrease of bitcoin's market cap today.

if they're going to ban bitcoin or if they really are decided that much to ban it, then that will be a long process.

[mayax]

maybe this is one of the reasons of the drastic decrease of bitcoin's market cap today.

if they're going to ban bitcoin or if they really are decided that much to ban it, then that will be a long process.

why long process. they can declare from "today" . it's simple.

[FrenchCoffeezS]

I dont think so maybe they will put another cryptocurrency only for china.

[Bonsaiav]

A senior Chinese central banker says authorities will ban centralized trading of virtual currencies as well as individuals and businesses that provide related services.

Authorities will also block domestic and foreign websites and close mobile apps that provide centralized virtual currency trading services to Chinese users, and sanction platforms that provide virtual currency payment services.

So, bye-bye BTC in China.  

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

https://www.reuters.com/article/us-china-bitcoin/pboc-official-says-chinas-centralized-virtual-currency-trade-needs-to-end-source-idUSKBN1F50FZ

Again and again the Chinese Government is acting. China banned its banks from handling transactions involving the Bitcoin virtual currency and this makes the market worse.
To be honest, I was amazed by china, just imagine 'with just one hit' bitcoin prices dropped very sharply, and this can`t be denied because this is based on the fact that happened. However, They weren't only attacking bitcoin but also attacked hundreds of altcoin. This is obviously very sad for me, and now hundreds of altcoin into a sea of red.

[Yamifoud]

We know China is a one of the developing and powerful country,  and of course they never wanted those things that they could never be controlled. The fact that China is throwing bitcoin away is that, they can't never have chances to take bitcoin's control and their interest with bitcoin couldn't be successful. And they think also that digital currencies are threat for their security.

[Sskapollo7]

China is showing no interests in Bitcoin as China recently banned some of the banks who have transaction related to virtual currency which leads to the price of Bitcoin which has an adverse effect on market
I hope they may come into some solution    

[mayax]

A senior Chinese central banker says authorities will ban centralized trading of virtual currencies as well as individuals and businesses that provide related services.

Authorities will also block domestic and foreign websites and close mobile apps that provide centralized virtual currency trading services to Chinese users, and sanction platforms that provide virtual currency payment services.

So, bye-bye BTC in China.  

https://www.ccn.com/china-looks-ban-centralized-cryptocurrency-trading-reports/

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

https://www.reuters.com/article/us-china-bitcoin/pboc-official-says-chinas-centralized-virtual-currency-trade-needs-to-end-source-idUSKBN1F50FZ

Again and again the Chinese Government is acting. China banned its banks from handling transactions involving the Bitcoin virtual currency and this makes the market worse.
To be honest, I was amazed by china, just imagine 'with just one hit' bitcoin prices dropped very sharply, and this can`t be denied because this is based on the fact that happened. However, They weren't only attacking bitcoin but also attacked hundreds of altcoin. This is obviously very sad for me, and now hundreds of altcoin into a sea of red.

it's not an "attack". it's a normal procedure in their view.

all the fake volumes, ICOs and many other shits brought this ban.

[knightmairesaint]

Again and again the Chinese Government is acting. China banned its banks from handling transactions involving the Bitcoin virtual currency and this makes the market worse.
To be honest, I was amazed by china, just imagine 'with just one hit' bitcoin prices dropped very sharply, and this can`t be denied because this is based on the fact that happened. However, They weren't only attacking bitcoin but also attacked hundreds of altcoin. This is obviously very sad for me, and now hundreds of altcoin into a sea of red.

That is true. When China banned bitcoin, it had a huge effect on the price resulting into a huge dump and now it is happening again but with a different country. Bitcoin price is dropping again and I hope that it can recover from this the soonest it can. They surely have reasons for banning bitcoin and I also hope that this will be the last place who will fully reject bitcoin.

[almaroof]

No Government or institution can stop Btc, they Can only slow down the pace of its growth.


Btc is the future!!!!!!

[icanscript]

The world's leading manufacturer of equipment for bitcoin mining is the Chinese company Bitmain, located in Beijing . It produces about 70% of the bitcoin miners in the world. China Mein about two-thirds of Bitcoin and regularly rocking swing BTC rate

[rainbow169]

Although not confirmed yet, but if the news is really true then, it is terrible for those new chinese investors who have been rushing into the market in the last few weeks to get ETH through P2P trading platform to use for ICO, and is now panicking to sell their position. But if you are aiming to get a 10x gain, you will have to accept a -50% risk.

For the progression of blockchain based crypto economy, I don't think there is anything that can stop it now. Bitcoin has proven again and again that it can't be controlled by government FUD. A balanced regulation framework is probably in the best interest of everyone for the long run.

We have survived Sept 4th crash, what's different now?