China is Back to BTC Business

[Pab]

 A little hidden news .Not advertised by Coindesk or any other western press
 Bitcoin is legal asset in China

China Lifts Bitcoin Ban; Individuals and Businesses Can Now Own Cryptocurrencies Legally

According to a recent report by CnLedger, the crypto ban is now a thing of the past in China, as virtual currencies have been legalized as a mode of payment to be accepted by people and business entities as. The Shenzen Court of International Arbitration was quoted as saying;

Instead of that news we are receiving scary news about regulation in USA and famous dead of bitcoin

https://www.btcnn.com/cryptocurrency-news/bitcoin-news/china-lifts-bitcoin-ban-individuals-and-businesses-can-now-own-cryptocurrencies-legally/

hope you are better now

And report from 3 november

 This week in crypto:

1. Bitcoin 10 year anniversary
2. Janet Yellen now owns Bitcoin
2. Ron Paul calls for no crypto tax
3. Bitstamp acquired by NXC
4. @binance signs up 40k in Uganda
5. Coinbase raised $300M
6. Morgan Stanley says crypto is institutional asset class

 

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[BitHodler]

I'm sure I read a couple of articles very recently debunking this China news, but I'm not sure if anyone here still gives a shizzle about China. We're way better off without their casino mentality.

I appreciate the attempt to cheer people up, but the selling isn't coming from the people here. Most of the forum lurkers know that there is no point in selling anymore unless there is an urgent need of funds to cover bills.

Last year on the way up bad news couldn't influence the price, neither does it so right now with positive news on the way down. Let's hope we'll see $3000 soon and have it become a bottom.

[Pab]

I'm sure I read a couple of articles very recently debunking this China news, but I'm not sure if anyone here still gives a shizzle about China. We're way better off without their casino mentality.

I appreciate the attempt to cheer people up, but the selling isn't coming from the people here. Most of the forum lurkers know that there is no point in selling anymore unless there is an urgent need of funds to cover bills.

Last year on the way up bad news couldn't influence the price, neither does it so right now with positive news on the way down. Let's hope we'll see $3000 soon and have it become a bottom.

Shorting on that pseudo  btc futures make people better money than buying real btc

[AAlex48]

See what happens in Korea.Falling without volume, it is not supported.

[tdrinker]

I appreciate the attempt to cheer people up, but the selling isn't coming from the people here. Most of the forum lurkers know that there is no point in selling anymore unless there is an urgent need of funds to cover bills.

Is it just me who's noticed it's been largely a lot more sensible around here and also a lot quieter? Perhaps all, or most, of the money grabbers left?

On the initial post, I believe that this news was reported to be false and that bitcoin is still not legal in China.

[pinkman12345]

Whatever, If from statically point of view can someone convince me?? why the BTC has not bounce back after the weekly average low instead of over sold in RSI?

[Pab]

Bitcoin in china is as it is news
It ls legal payments method
Chinese can own and pay with crypto
There are sites what are accepting btc
However there is still ban on trading crypto

If you think that China will like that leave crypto that you are wrong
There is 41 approved  blockchain patents in China
There are estimates that blockchain will be worth 102 trillion dollars in near futures
three times more than internet is worth now
It is big game China wants to dominate blockchain business
It is why we have Ripple pump because some people have found that thanks supporting Ripple will be possible to limit China domination over bitcoin
That is yet another war that time technology war

Price look chart it is series of flash crash remove big orders and sell than people in panic are selling
Look twitter Twitter is full of posts Btc is going 2000 K or bitcoin will be not Nr 1 again

[Ludmilla_rose1995]

Does the news have the truth? If that is true, then China is the biggest bitcoin adopter country like last year. That way, the bitcoin market will rise again.

[nur rochid]

Does the news have the truth? If that is true, then China is the biggest bitcoin adopter country like last year. That way, the bitcoin market will rise again.

but there is news today that Asia is leaving Bitcoin. but hearing this news, i hope it's right, so that at the end of this year we can see a surge in prices like last year, even though at the moment I'm sure many are frustrated

[khufuking]

Such news from China is for sure matters and will affect the market soon or later, I don't how some people claim that chain is not important, let me tell you china is one of the main players in Crypto market and more specific in BTC, any news coming from China do matter.

But let me say that even if this news is true it is not enough to move the price into the other direction, history telling us BTC can easily ignore all news and head to the direction it wants ( whale wants ).

[Capt00]

That was posted November 9 at this current year and hopefully, the author was telling the truth. China is one of the biggest crypto adopters all over the world and I think they are the main player of these cryptocurrencies. Then, this is the good news there will a high chance that this last quarter of the year there's a possibility that the entire market will back raised again.

But let me say that even if this news is true it is not enough to move the price into the other direction, history telling us BTC can easily ignore all news and head to the direction it wants ( whale wants ).

Yes, you are right, this news will not having an effect on the market if they did not invest more through Bitcoin.

[sheenshane]

Well, that is good news to us as a crypto enthusiast that having a big chance and hope that Bitcoin(cryptos) price will probably raise up from the drastically dipped. However, if that is true, we know that the country of China has the biggest population who can adopt Bitcoin and other cryptos, there is no reason Bitcoin price will not raising up. I think if that is true Bitcoin price now showing signs to raise up.

[longyenthanh]

It looks like a very good news, the Chinese are certainly already preparing for the investment ... and certainly not just them.
But is the BTC mining still profitable at the current price there? In other words, is anyone able to count whether the costs of electricity do not exceed the profitability of mining in China?

[SparkleToken]

That's great news!BTC

[dr_chen]

It is early to belive these news. Chinese goverment would like to regulate coins, if it has a full control on BTC. China is always one of the main players in  BTC market. Either legal or illegal Chinese govetment's aim is to gain more control on BTC.

[zoeylee]

If China is back to BTC business then these would be a great opportunity of BTC that has supported by one of the richest country in the world.

[jcpone]

Regardless whether this is true or not, recognizing and accepting cryptocurrency is something that is inevitable. If not today, in the coming days, months, or years, every country will accept and recognize cryptocurrency. The technology bringing these cryptocurrency is the future of financial transactions.

[princeyeboah]

I have read an article delivering the same information about China retracing its statements against Bitcoin yet this seems not confirmed in any of the official news channels. However, cryptocurrency will continue to survive irrespective of China's stands on its acceptance. It is inevitable that countries around the globe will accept cryptocurrency some day to come because the technology behind it cannot be overlooked.

[steampunkz]

This will be a big news if China lifted the ban for crypto's especially BTC, As we Know China is the largest population in the whole world that also uses bitcoin for mining, trading, gambling and also Initial Coin offering, This could trigger BTC' price to rise up again right?

[maman567]

When China want to allowed and giving space for bitcoin as transaction payment will make easy for bitcoin could growing up and have higher price, just wait when bitcoin and altcoin could be on fire after legal transaction by China.