China cracking down on bitcoin again

[error08]

China government really want bitcoin to vanish from their country although it can't be stopped, They have banned bitcoin exchanges and miners, now they want to close the door for any potential way being used by citizens to trade bitcoin and other cryptocurrencies. I thought bitcoin transaction was done last year after they banned exchanges but apparently people can find another way, even if Alipay will immediately stop every transactions identified as crypto-transactions, there are others way to transact under the radar obviously.

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[Murat]

If I am not wrong that I want to say boldly that China is really afraid of bitcoin as a threat of their country's economy, It may be a new happening between Binance and Alipay, Of course, Alipay needs to follow the rule of China government because they have a good reputation within this country, not only that but also some blame should go to the Bitcoin platform because it's still a very volatile platform, how a government take risk for their people to get engaged in this system, but the Chinese people are really doing a vast portion within cryptocurrency platform, but China is very strick to use Bitcoin and Altcoin to their territory but at the beginning of cryptocurrency invention, China was not as like today. how things can change?

[huige007]

If I am not wrong that I want to say boldly that China is really afraid of bitcoin as a threat of their country's economy, It may be a new happening between Binance and Alipay, Of course, Alipay needs to follow the rule of China government because they have a good reputation within this country, not only that but also some blame should go to the Bitcoin platform because it's still a very volatile platform, how a government take risk for their people to get engaged in this system, but the Chinese people are really doing a vast portion within cryptocurrency platform, but China is very strick to use Bitcoin and Altcoin to their territory but at the beginning of cryptocurrency invention, China was not as like today. how things can change?

I hold same opinion in this matter. It is not like China hates bitcoin or considers it as some useless innovation in the field of technology. It is actually exact opposite. China admires bitcoin and there had been times when it tried to control this but then realized that no one can really control it and in the digital market, the coin that has most investors is the key to control it. China wants to take control from bitcoin.

[ringgo96]

The Chinese government seem to have develop strict measures to curb the activities involving the use of bitcoin. Despite the strict measures or regulations, I don't know the right word to use in this instance. I believe the citizenry that are actively involved in cryptocurrencies would still find ways to exploit the system.

Cryptocurrency is now one of the political discussions for some countries. In the past China was actually a major contributor to the progress of crypto in the development of bitcoin. there is the biggest exchange and also the method of payment with bitcoin ever happened before finally all matters relating to their cryptocurrency banned.

[akmal1984]

I think all this news has something to do with halving bitcoin next year. They Chinese people are clearly very clever in this matter, pressing the price of bitcoin so it does not rise first this year so they can buy it up. Many times I see news like this that makes the price of bitcoin go down. After a few months the price will rise dramatically again.

[desticy]

The Chinese government is very tricky, I think that we are now seeing manipulation by China regarding cryptocurrencies.
Which is that supposedly distancing itself from the cryptocurrency and in particular from bitcoin in the future, China will become, if not already, a country that will have a very strong influence on the cryptocurrency market due to the fact that most of the bitcoins will be in the hands of the Chinese. But this is only assumption.
You need to understand that there is another scenario. For example, China is a very centralized country with fingerprints, biometrics and cameras on every corner. The Chinese government is not beneficial for people to use cryptocurrency which to some extent weakens control over the population.

[bitgolden]

The Chinese government seem to have develop strict measures to curb the activities involving the use of bitcoin. Despite the strict measures or regulations, I don't know the right word to use in this instance. I believe the citizenry that are actively involved in cryptocurrencies would still find ways to exploit the system.

Cryptocurrency is now one of the political discussions for some countries. In the past China was actually a major contributor to the progress of crypto in the development of bitcoin. there is the biggest exchange and also the method of payment with bitcoin ever happened before finally all matters relating to their cryptocurrency banned.

I think they still have some roles to play and most of the coins being mined is still being mined from china, there were plans to ban mining and not cryptocurrency, but we suddenly never heard anything of such again which I still have many chines friends that attest to it that mining is still on going in their country, but china is just trying to do something to regulate the cryptocurrency, which one of the method they are using is trying to create their own cryptocurrency.

If they create their own cryptocurrency, they know that they would have already captured the attention of all their populations of about 2 billion people, which will surely make their attention to be diverted a little from some altcoins, but I doubt if it will affect bitcoin, because of decentralization.

[Wintersoldier]

In relation to the news before, China and US are in race to become a crypto country. Basically, the advantage of crypto will be big for a massive government of china and also have a threat for their government. This is the point China should take the cryptocurrency matter very seriously. As choosing the wrong move will lead to being left in the world crypto innovation. Everyone will definitely benefit when China choose the right decision, and that is to embrace the world where transaction is seamless through crypto.

[Edraket31]

In relation to the news before, China and US are in race to become a crypto country. Basically, the advantage of crypto will be big for a massive government of china and also have a threat for their government. This is the point China should take the cryptocurrency matter very seriously. As choosing the wrong move will lead to being left in the world crypto innovation. Everyone will definitely benefit when China choose the right decision, and that is to embrace the world where transaction is seamless through crypto.

Correct, since China is now in the process of checking the usage of cryptocurrency, many people has gain confidence again in buying it, as they know that China will be in favor with it someday, so congrats to those who bought at dip and has gain with the news yesterday, for me this is the start of the popularity of Bitcoin again.

[Sithara007]

Correct, since China is now in the process of checking the usage of cryptocurrency, many people has gain confidence again in buying it, as they know that China will be in favor with it someday, so congrats to those who bought at dip and has gain with the news yesterday, for me this is the start of the popularity of Bitcoin again.

Check the statement made by Xi Jinping once more. He was urging the Chinese to get more innovative with the Blockchain technology. He admits that Blockchain will be a big thing in the immediate future. However, at no point he encouraged the use of cryptocurrency or showed a tolerant attitude towards them. Make no mistake. Xi Jinping is in favor of Blockchain technology. But that doesn't mean that he is going to support the cryptocurrencies all of a sudden. The official government stance towards Bitcoin and the other cryptocurrencies remain the same.

[qiwoman2]

Correct, since China is now in the process of checking the usage of cryptocurrency, many people has gain confidence again in buying it, as they know that China will be in favor with it someday, so congrats to those who bought at dip and has gain with the news yesterday, for me this is the start of the popularity of Bitcoin again.

Check the statement made by Xi Jinping once more. He was urging the Chinese to get more innovative with the Blockchain technology. He admits that Blockchain will be a big thing in the immediate future. However, at no point he encouraged the use of cryptocurrency or showed a tolerant attitude towards them. Make no mistake. Xi Jinping is in favor of Blockchain technology. But that doesn't mean that he is going to support the cryptocurrencies all of a sudden. The official government stance towards Bitcoin and the other cryptocurrencies remain the same.

This did create a pump though a huge one for Bitcoin and the big cap coins but I think this pump was expected but they may be used this little bit of news as an excuse to start the pump. We used to have the China FUD back in the day now China is giving a PUMP so it is quite funny how the media is used to spin and work for the market makers. We know that one thing is for sure..That the crypto and BTC markets are here to stay and will grow and evolve into a bigger market cap over the next few years and this is promising indeed. China will most likely support its own blockchains more than the decentralized ones like Bitcoin. That works in their interests of course, but it's still good overall for the technology to spread.

[SummerBliss]

At present China has announced adopting blockchain technology in their system and it seems that they might be interesting in creating their own digital currency which will be centralized.They might breakdown on bitcoin but the miners will continue to work even in that conditions but the prices have rised to $9500 which is indeed good news for all of us.Nothing can affect the market in bad manner and btc and other alts will also rise in future.

[Leonardo7]

This is hypocrisy on the part of government I think. They actually want people to use their stable coin when it's finally launched. Alipay will have to comply with the pressure from the government to stay in business.

[silversurfer1958]

I think what has happened is this: China closed down all the cryotocurrency exchanges back in early 2017.

Then Binance tweeted to their Chinese users that they could buy bitcoin with Alipay. The Chinese authorities then put pressure on Alipay to close down any bitcoin related transactions, which is what they've done.

They are really doing the right thing. We should not expect a decentralized market to grow in the future. because a series of money laundering will happen easily and then society will be chaotic. governments will no longer be able to stop the dark forces.
I still strongly support such regulations but allow a little freedom for the people.

[huu78]

China is currently telling that they should adopt or use a blockchain that has been on the bitcoin hike yesterday.
Of the news they make bitcoin rise to be fast and the CEO of Twitter also follows to buy bitcoins. We know that good news is indeed great and the right time to buy Bitcoins now.

[atjiat]

China is currently telling that they should adopt or use a blockchain that has been on the bitcoin hike yesterday.
Of the news they make bitcoin rise to be fast and the CEO of Twitter also follows to buy bitcoins. We know that good news is indeed great and the right time to buy Bitcoins now.

Many cryptocurrency users associate the current growth of the cryptocurrency market with the statement of the Chinese government, which deals with the legalization of the blockchain.  If subsequently in China the cryptocurrency will work legally, including Bitcoin, then we can expect very big changes in the development of the cryptocurrency market.  Moreover, it is worth considering the fact that almost 70% of the Bitcoin speed hash is controlled by Chinese miners.

[erickastella]

China is the biggest trading market in the world, they have mastered the market in almost all the world so it's no wonder. For example, if there is good news that bitcoin will be legalized in China, the Chinese people will also compete in the buying competition so that there is a drastic increase and vice versa because the population in China is also very large.

[davinchi]

If I am not wrong that I want to say boldly that China is really afraid of bitcoin as a threat of their country's economy, It may be a new happening between Binance and Alipay, Of course, Alipay needs to follow the rule of China government because they have a good reputation within this country, not only that but also some blame should go to the Bitcoin platform because it's still a very volatile platform, how a government take risk for their people to get engaged in this system, but the Chinese people are really doing a vast portion within cryptocurrency platform, but China is very strick to use Bitcoin and Altcoin to their territory but at the beginning of cryptocurrency invention, China was not as like today. how things can change?

China is really afraid of bitcoin which they don't even trust the service of all these Alipay and WeChat payment system again to really tackle bitcoin, and which is why they are also proposing to introduce their own currency thinking and believing that it will be strong enough to actually deal with the bitcoin technology which until they release before the realize that there is nothing that can really compete with bitcoin.

Instead of the way they are wasting time and cracking on bitcoin, the best they would have done is to even under study the coin perfectly well and then see how it can still be used to their own advantage, but because of most of their selfish interest protecting their coin, they are very much blind to what bitcoin can actually do for them.

[Vishnu.Reang]

I think all this news has something to do with halving bitcoin next year. They Chinese people are clearly very clever in this matter, pressing the price of bitcoin so it does not rise first this year so they can buy it up. Many times I see news like this that makes the price of bitcoin go down. After a few months the price will rise dramatically again.

It is not just the Chinese. A lot many of the major players (all around the globe) are trying to keep the exchange rates down. And despite the prices increasing by more than 200% during the last few months, the fact remains that Bitcoin is still underpriced. We can expect a major price movement, once the next block reward halving approaches.

[CryptTech]

I think all this news has something to do with halving bitcoin next year. They Chinese people are clearly very clever in this matter, pressing the price of bitcoin so it does not rise first this year so they can buy it up. Many times I see news like this that makes the price of bitcoin go down. After a few months the price will rise dramatically again.

It is not just the Chinese. A lot many of the major players (all around the globe) are trying to keep the exchange rates down. And despite the prices increasing by more than 200% during the last few months, the fact remains that Bitcoin is still underpriced. We can expect a major price movement, once the next block reward halving approaches.

If all the news about China is true, then bitcoin rush up, all altcoins should depreciate greatly, and those that are not included in the top 100 should simply disappear