China Has Ordered All Financial Institutions To Cut Crypto -Related Services

[sulis sudibyo]

cryptocurrency price movements should not be affected by the bad news that is happening in China because if traders and investors are aware that bitcoin has price movements controlled by its owners, bitcoin owners can agree to stay calm and not panic and not sell bitcoin assets at low prices then it is certain that the price of bitcoin will not be affected and still have a high price.

now CHina has less power in cryptocurrency market after they crackdown miner and its moved abroad. with decentralized miner in around the world, now China only could fud by issuing negative policy. SO far cryptocurrency market have strong from billionare from any countries which is make statement added bitcoin as their investment assts. soon or later China will not be super power country in cryptocurrency market.

Yes you are right, China's influence has started to fade. Since they issued a policy to ban all activities related to crypto, China has no influence on the market. now they can only be spectators who can only spread FUD. we don't need that country after all, because without China the crypto market remains strong.

[caffu chino]

cryptocurrency price movements should not be affected by the bad news that is happening in China because if traders and investors are aware that bitcoin has price movements controlled by its owners, bitcoin owners can agree to stay calm and not panic and not sell bitcoin assets at low prices then it is certain that the price of bitcoin will not be affected and still have a high price.

now CHina has less power in cryptocurrency market after they crackdown miner and its moved abroad. with decentralized miner in around the world, now China only could fud by issuing negative policy. SO far cryptocurrency market have strong from billionare from any countries which is make statement added bitcoin as their investment assts. soon or later China will not be super power country in cryptocurrency market.

Yes you are right, China's influence has started to fade. Since they issued a policy to ban all activities related to crypto, China has no influence on the market. now they can only be spectators who can only spread FUD. we don't need that country after all, because without China the crypto market remains strong.

at this time maybe china has no influence. but it's not impossible for them to remove the ban in the future. When the whole world accepts crypto, China will surely follow suit. and that's when their influence will return. so China indirectly influences even though they are not directly related to the crypto market.

[South Park]

I think nobody is against the cryptocurrency users from China, I hope so.

Concerning his argument about true decentralization, you will most likely never achieve true decentralization! You have either superior hardware which you keep to yourself or superior electricity prices, which China has.

What I am wondering about is whether the Chinese government will stick to their decision for a longer period of time or whether there will be some negotiations or certificate solutions like in Iran.

I do not think anyone is against the Chinese citizens, if anything I am sorry for them, they have to deal with a government that is always on their back and telling them what to do and despite all of that they are still holding their bitcoin and investing in this market, so if anything I feel admiration for those people, however China is doing what they have historically have done which is to try to isolate themselves and it is a tactic that it has not worked so I cannot understand why they are trying it again.

[Serco]

at this time maybe china has no influence. but it's not impossible for them to remove the ban in the future. When the whole world accepts crypto, China will surely follow suit. and that's when their influence will return. so China indirectly influences even though they are not directly related to the crypto market.

China still have influence to crypto market , but now its not stronger as before. Miners already crack down , and finance institution cutted of for cryptocurrency transaction . SO in which part they will FUD us again? Now China power getting weaker and weaker due their consistance to ban crypto but community getting stronger because they already accustomed with all of this.

[tokoorochan]

cryptocurrency price movements should not be affected by the bad news that is happening in China because if traders and investors are aware that bitcoin has price movements controlled by its owners, bitcoin owners can agree to stay calm and not panic and not sell bitcoin assets at low prices then it is certain that the price of bitcoin will not be affected and still have a high price.

if every traders confidence to hold their bitcoin or cryptocurrency assets no matter happen in market , i am sure its price will always soar. but in the fact we have diffferent mental , psychology and emotion that will form our character in market. at least from any fud in market we should now that everything controlles by our self, did we will hold or sell it.

[tabas]

China still have influence to crypto market , but now its not stronger as before. Miners already crack down , and finance institution cutted of for cryptocurrency transaction . SO in which part they will FUD us again? Now China power getting weaker and weaker due their consistance to ban crypto but community getting stronger because they already accustomed with all of this.

They are influential in the market with the news that is coming from them. I guess there's no way to remove their influence on the market because every news that comes out in that country, the market moves as much as it can and as effectively as it can.
That's why news is choosing to have their headlines and articles came from China if there's someone who wants to pay for the spread of FUD in the market.

[South Park]

at this time maybe china has no influence. but it's not impossible for them to remove the ban in the future. When the whole world accepts crypto, China will surely follow suit. and that's when their influence will return. so China indirectly influences even though they are not directly related to the crypto market.

China still have influence to crypto market , but now its not stronger as before. Miners already crack down , and finance institution cutted of for cryptocurrency transaction . SO in which part they will FUD us again? Now China power getting weaker and weaker due their consistance to ban crypto but community getting stronger because they already accustomed with all of this.

You are not wrong but we must remember that rumors travel really fast so even if they are losing the power to influence this market that does not mean that newbies are going to be aware of the changing landscape, so if they want to FUD the market again I think they can do it and they will be successful, the difference I think is that if this happens again the price is bound to recover very quickly as the people like us will know what is up and we are not going to fall into that trap and we will buy bitcoins instead of selling them.

[bitcon]

It happens because of chinese political structure. The government wants to control people, but crypto is unregulated so they can’t let it develop. Authorities can't put up with such a strong economic rival, so they restrict everything that is connected with crypto. They are trying to replace cryptocurrencies by creating digital yuan, but it is not the same as classic crypto as  they will still be regulated by the government.

[OZmaster]

It happens because of chinese political structure. The government wants to control people, but crypto is unregulated so they can’t let it develop. Authorities can't put up with such a strong economic rival, so they restrict everything that is connected with crypto. They are trying to replace cryptocurrencies by creating digital yuan, but it is not the same as classic crypto as  they will still be regulated by the government.

And they do control people like hell. They would never want cryptos like Bitcoin or even Monero play a privacy preserving role in the country. With all the technology to control their people in place, as far as I know they even abandoned cash, you can't do anything in China without the government knowing. You even get a score for the way you live.

[Pamadar]

It happens because of chinese political structure. The government wants to control people, but crypto is unregulated so they can’t let it develop. Authorities can't put up with such a strong economic rival, so they restrict everything that is connected with crypto. They are trying to replace cryptocurrencies by creating digital yuan, but it is not the same as classic crypto as  they will still be regulated by the government.

And they do control people like hell. They would never want cryptos like Bitcoin or even Monero play a privacy preserving role in the country. With all the technology to control their people in place, as far as I know they even abandoned cash, you can't do anything in China without the government knowing. You even get a score for the way you live.

The government established its power with his nation no question about that.

If you want to live differently you need to move out from their, but I doubt that they'll allow their citizens to freely migrate without

any questions or any clearance, this strong rulings against crypto signifies that they are really restricting everyone to take part with
crypto industry, they wanted to imposed their digital yuan nothing else.

[Connor Britton]

Although this is negative news, China has always opposed and banned cryptocurrencies, but Bitcoin is still developing. And there are many encryption enthusiasts in China. They may "move" or use P2P transactions to pay in the future.

[Nora Olin]

China has always been unsupportive of cryptocurrencies because China has its own national currency and has been issuing policies to suppress cryptocurrencies. However, I think there are still many crypto enthusiasts in China. After they see their own country’s policies Will you continue to hold it?

[NathanielParker]

Whenever there is news of China's suppression of virtual currency, the market will be affected, but I think that China bans mining, and most miners move out of China is beneficial to Bitcoin in the long run. The market will not remain sluggish, and the impact will only be temporary.

[Sithara007]

Whenever there is news of China's suppression of virtual currency, the market will be affected, but I think that China bans mining, and most miners move out of China is beneficial to Bitcoin in the long run. The market will not remain sluggish, and the impact will only be temporary.

More than 95% of the mining equipment is produced in China (Bitmain, Canaan.etc). Unless we remove this dependency, the mining sector will always remain overdependent on China. The mining operations can be shifted to Kazakhstan or Russia. But what you will do without the mining equipment? And from what I have heard, the crackdown has impacted the rig manufacturers as well. Now this definitely doesn't look good for the long term. Also, as the hash rate gets lower, the chances of an attack against Bitcoin goes up proportionately.

[WalkerIVIV]

However, I think there are still many crypto enthusiasts in China. After they see their own country’s policies Will you continue to hold it?

These crypto enthusiast were getting stricted by china and it's not only that the regulation that already created by china already affected the policy that owned by all of companies from the china.
I can tell you now if tiktok was also banning a content that related to the cryptocurrency.
that being said that if china was also pressing the companies to take an action against crypto.

[OZmaster]

It happens because of chinese political structure. The government wants to control people, but crypto is unregulated so they can’t let it develop. Authorities can't put up with such a strong economic rival, so they restrict everything that is connected with crypto. They are trying to replace cryptocurrencies by creating digital yuan, but it is not the same as classic crypto as  they will still be regulated by the government.

And they do control people like hell. They would never want cryptos like Bitcoin or even Monero play a privacy preserving role in the country. With all the technology to control their people in place, as far as I know they even abandoned cash, you can't do anything in China without the government knowing. You even get a score for the way you live.

The government established its power with his nation no question about that.

If you want to live differently you need to move out from their, but I doubt that they'll allow their citizens to freely migrate without

any questions or any clearance, this strong rulings against crypto signifies that they are really restricting everyone to take part with
crypto industry, they wanted to imposed their digital yuan nothing else.

I am sure if you are rich it is even harder for you to leave the country because the Chinese government wants to keep as much capital within its boarders as it can. That is why they are against Bitcoin. It makes it much easier for those who really decide to take that hard step and leave the country to take money with them without the government noticing. With banks it is not possible. Your transfers will just get blocked and they probably raise or tax or anything like that to make it even more painful for you to leave.