Communist Chinese government popped the Cryptocurrency bubble in East Asia.

[Rebdoomer]

At least governments in North America and Europe won't do this anytime soon.

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[player514]

At least governments in North America and Europe won't do this anytime soon.

I mean, I feel like everyone expected the Chinese government to pull something like this off ever since the whole China FUD incident. They're a communist economy and they're trying to control as much as they can in their country. It makes sense in regards to their culture.

I guess one thing to remember out of this is how the last China FUD went. We ended up dropping for a little bit sure, but we also ended up rising like a rocket right after that. If the crackdowns move miners and others out of China and into a safer place for bitcoin, there won't be much to worry about.

[yepaiyique2]

The behavior of the Chinese government, providing more evidence of the currency of how good it is, decentralization, because of the decentralized, some countries cannot control these virtual currency, this can make their panic, they tried to ban the currency circulation!

[DroidR17A]

Guys, the Chinese story is BS. They stopped trading in September, so no impact on the current market. Dig deeper. This happens every year in January.

Keep Calm & HODL.

[Wallflower28]

I do not get what is the point of chinese government. I don't know if it just hate cryptocurrency or a strategical way to have profits.

[CryptoBry]

At least governments in North America and Europe won't do this anytime soon.

I mean, I feel like everyone expected the Chinese government to pull something like this off ever since the whole China FUD incident. They're a communist economy and they're trying to control as much as they can in their country. It makes sense in regards to their culture. I guess one thing to remember out of this is how the last China FUD went. We ended up dropping for a little bit sure, but we also ended up rising like a rocket right after that. If the crackdowns move miners and others out of China and into a safer place for bitcoin, there won't be much to worry about.

China is now the most powerful country but it does not mean it can actually kill cryptocurrency since it is not the only country existing in this world. What is happening right now is just a temporary setback (if I would be allowed to use the word setback) and soon we can witness a robust and much more alive cryptocurrency market mostly after the Chinese New Year. Every year for the past years, January is traditionally a low month and since many are expecting for this to happen it has become a self-fulfilling projection. After January, we should welcome growth again.

[wuhanyan21]

China already banned BTC before AFAIK.

[audaciousbeing]

At least governments in North America and Europe won't do this anytime soon.

The basis of any county's grouse or war against bitcoin is not only because of those negative things they ascribe to it but largely because of their economic ideology. In all the countries that discussion about bitcoin is being done some are quick to make a decision to go the direction of banning it even without giving room for further discussion while the other countries are still doing open hearing, setting up committees at the level of the Central Banks, drafting a bill, asking for KYCs etc. If we all look very well the countries that took the aggressive part have something to do with not practising huge percentage of capitalism compared to those who are still discussing and China and all of those other countries are very much guilty of this.

[dothebeats]

There had been numerous times that the Chinese government had called out bans on bitcoin but so far, none had been so severe. There had been some effects, though not that significant, and bitcoin had manage to churn those out easily within a few weeks time. The bubble won't be popped sooner, knowing that most people have already witnessed that bitcoin can push higher highs even with some setbacks. On the other hand, bitcoin is trading @ $9500 right now which is not a good sign but still is okay on most people's books who are holding for long.

[Dayx]

"Chinese banned cryptocurrency" isn't that an old news?
if you wondering why Bitcoin is falling, it's happen every years. No need to worries man, check this image. https://s10.postimg.org/6gefrme7t/img_20180116_192845.jpg

[tlustoprd]

That image looks great. I'm going to buy all the bitcoin I can. I'll get rich soooooooon. I already sold my grandmother's fake teeth. By the time she notices, I'll be able to buy 10 of them!

[Carlsen]

I think op is referring to the rumor that China wants to close the mining farms.
To me, that would not be such a bad move at all.
I think bitcoin should be decentralized in every way. Mining farms should not be concentrated in one country or one continent.
The wider bitcoin is spread around the globe, the more untouchable it becomes.

[edi-mf]

Can someone please just delete this thread? The news is BS. Let's not spread more fud jeez... or actually yes! You guy sell all of your BTC so I can buy it for peanuts and gain 50% next month. Please do!

[South Park]

At least governments in North America and Europe won't do this anytime soon.

I mean, I feel like everyone expected the Chinese government to pull something like this off ever since the whole China FUD incident. They're a communist economy and they're trying to control as much as they can in their country. It makes sense in regards to their culture.

I guess one thing to remember out of this is how the last China FUD went. We ended up dropping for a little bit sure, but we also ended up rising like a rocket right after that. If the crackdowns move miners and others out of China and into a safer place for bitcoin, there won't be much to worry about.

This was going to happen sooner or later most miners were in china due to the low cots of electricity but now they are seeing those low cost comes with a bigger price, china is now hunting them down and now they need to get out of there in a hurry, I'm sorry for the chinese, but that is the government they deserve since they let them take the power of their country.

[Hydrogen]

At least governments in North America and Europe won't do this anytime soon.

....

Don't forget! There is Senate Bill 1241 (easy to find information on it via search engine) which contains provisions for the US federal government to confiscate crypto currencies without due process or just cause. Whatever legislative process the united states opts for could also be mirrored in europe to create a unified front. I hate to be a bearer of bad news but hope people can understand a need for clear and concise information, which might help to make more informed decisions in the future.

We may have been lucky so far in that elites appear to be divided on crypto. There are central bankers who probably want bitcoin banned. But there are also whale investors in crypto who want to trade and profit. Those whales probably want crypto trading legalized as its a profitable market with a lot of potential profit to be made.

[Cardan0]

At least governments in North America and Europe won't do this anytime soon.

Oh, I don´t really know, but what I would like to point out is that the Chinese government has very long ago ceased to be communist. It is now some short of communal capitalist dictatorship...

[nazaididuan1]

Maybe the blockchain will grow better in some countries in east Asia.