Bitcoin in China: What’s going on in the crypto community

[Kakmakr]

I think even though a blanket ban on Crypto currencies in China will have a devastating affect on the Bitcoin price, everything is not lost.. yet.    We know mass media thrive on spreading misinformation and used the popular saying.. "China has a Monopoly over Bitcoin mining" as a scare tactic to discourage people to invest in Bitcoin.

The events in China are actually good news for the Crypto currency community, in the sense that the mass media cannot use this "scare tactic" anymore, because the majority of the hashing power has now shifted to other countries and the so-called monopoly has been broken.  

[davis196]

This article tells us nothing new about the crypto industry in China.
I think that China has a big enough "grey economy" and the crypto industry is a part of that economy.
The Chinese government will try to smash the grey economy in China for sure,but a part of that economy will always survive.
It's a well known fact that authoritarian regimes hate decentralized payment systems like cryptocurrency.
China is a big example.Maybe after several decades,the communist regime will be dethroned and democracy will prevail in China,leading to a more liberal crypto regulation and legislation.

[Kong Hey Pakboy]

This article tells us nothing new about the crypto industry in China.
I think that China has a big enough "grey economy" and the crypto industry is a part of that economy.
The Chinese government will try to smash the grey economy in China for sure,but a part of that economy will always survive.
It's a well known fact that authoritarian regimes hate decentralized payment systems like cryptocurrency.
China is a big example.Maybe after several decades,the communist regime will be dethroned and democracy will prevail in China,leading to a more liberal crypto regulation and legislation.

Didn't they banned it already? So how is it still part of their economy or it is the mining of cryptocurrency that they've banned? I don't believe it will be dethroned, remember that they feed propaganda to their people and they quickly silence those that criticize them so I really don't think that we will see that regime being removed in power, Mao's influence is so deep already.

[ROSERTY]

Bitcoin is only banned in China. As long as the Bitcoin network is not banned globally, Bitcoin will not be completely banned. And now many countries are gradually accepting Bitcoin, and I believe that China will gradually realize its positive impact and gradually accept Bitcoin in the future.

[jamkesmas]

Bitcoin is only banned in China. As long as the Bitcoin network is not banned globally, Bitcoin will not be completely banned. And now many countries are gradually accepting Bitcoin, and I believe that China will gradually realize its positive impact and gradually accept Bitcoin in the future.

It looks like this will never happen in China, it is very unlikely that the Chinese government will accept bitcoin even if it is gradual, because all this time if we were they would continue to do whatever it takes to destroy bitcoin, as it has done recently, whenever bitcoin reaches a high price , they will spread the news of FUD everywhere so that the price of bitcoin goes down again.

[NathanielParker]

The Chinese government’s policy of banning cryptocurrencies has been implemented, but I don’t think Bitcoin will end completely. Many crypto enthusiasts in China are still active in the crypto market and still retain the coins they are working on. Because it touched China's government management, China does not want cryptocurrency to spread in China, otherwise the government cannot control it.
Other countries in Asia support and accept Bitcoin. China does not represent the entire Asia. Without China's support for encryption, the field of encryption is still valued, and encryption is not dependent on one country.

[Robinson66]

Some things we know are articles released through online media. But if anyone verifies the media is true.
What I know is just through the media, but many media will say that China's poor speech is poor. How do they know? China's media should not have bad statements in China.
Now, China has banned mining, miners have been looking for enough power and low power.
I saw this news will look at both sides, because there will be a good side of a bad side.
We should learn a good aspect.

[verita1]

It is a shame that China has banned bitcoin and that investors from that country had to sell it for fear of sanctions.
When the last FUD happened, the massive sale of bitcoin on the exchanges of Asian investors was notary.
In this forum a Chinese citizen affirmed that the reasons for China's ban towards Bitcoin, the main reason for him was that the Chinese government intended to protect bitcoin investors from losing their money.

It really is an incomprehensible fact, it is better to teach the population how to invest in bitcoin and know how to avoid third parties who intend to cheat with future profits.

However, I agree with how you think that China's decision was the best for bitcoin.
Now the mining is being carried out cleaner with more modern equipment because after this rearrangement, fortunately more awareness arose so that the mining industries are eco-friendly.

[kotajikikox]

Is bitcoin being trapped in the middle top countries fighting ? we Knew how US in some part is one of the supporter of Crypto specially Bitcoin while the best enemy China is against US and see this opportunity to make show hate towards the first one.
But we have saw the reaction of china creating their own currency and this shows us why they are keeping distance from Bitcoin, so basically ? we must not care about what is the effect because Bitcoin is still showing great pump with or without china beside.

[leea-1334]

Is bitcoin being trapped in the middle top countries fighting ? we Knew how US in some part is one of the supporter of Crypto specially Bitcoin while the best enemy China is against US and see this opportunity to make show hate towards the first one.
But we have saw the reaction of china creating their own currency and this shows us why they are keeping distance from Bitcoin, so basically ? we must not care about what is the effect because Bitcoin is still showing great pump with or without china beside.

Bitcoin is not being trapped anywhere trust me,,, ask any big chinese business man right now if they will accept BTC and they will say yes, 100%. China as the state and the government has banned mining, and trading, and investing. But they do this and have not restricted ability of people themselves to use and learn crypto.

The crypto community is still strong, look on this forum and find the same

[bandungan]

China is a big country, if it is true that bitcoin will end up in China maybe the crypto market will have a big effect and a dump will occur. but i think the crypto community in china will not stand still and will definitely put up a fight to keep the crypto community going and bitcoin be victorious there. government sentiment can be stopped with positive things from the community itself

[btc_angela]

Is bitcoin being trapped in the middle top countries fighting ? we Knew how US in some part is one of the supporter of Crypto specially Bitcoin while the best enemy China is against US and see this opportunity to make show hate towards the first one.
But we have saw the reaction of china creating their own currency and this shows us why they are keeping distance from Bitcoin, so basically ? we must not care about what is the effect because Bitcoin is still showing great pump with or without china beside.

Bitcoin is not being trapped anywhere trust me,,, ask any big chinese business man right now if they will accept BTC and they will say yes, 100%. China as the state and the government has banned mining, and trading, and investing. But they do this and have not restricted ability of people themselves to use and learn crypto.

Of course Chinese businessman are willing to accept it, but their government doesn't and restrictive, so still very difficult for any Chinese to proceed with anything that involves bitcoin.

The crypto community is still strong, look on this forum and find the same

Yeah, just shows how bitcoin has grown through the years. So with or without Chinese influence, we can still go and survived.

[Sanugarid]

China is a big country, if it is true that bitcoin will end up in China maybe the crypto market will have a big effect and a dump will occur. but i think the crypto community in china will not stand still and will definitely put up a fight to keep the crypto community going and bitcoin be victorious there. government sentiment can be stopped with positive things from the community itself

Yeah China is a big country but you're too late pal, they're already out of the crypto picture because they have already banned mining in crypto because they try to make a good red carpet for their upcoming project which is the Digital Yuan. Plus, China is going to be strict when it comes to crypto even if they want to go back at it.

[Assface16678]

IIRC China is out of the cryptospace for about a month now because they're developing their own digital currency. I admit that they do have a big influence but I don't think that they'll be back soon to rule the cryptospace again.

[leea-1334]

Bitcoin is not being trapped anywhere trust me,,, ask any big chinese business man right now if they will accept BTC and they will say yes, 100%. China as the state and the government has banned mining, and trading, and investing. But they do this and have not restricted ability of people themselves to use and learn crypto.

Of course Chinese businessman are willing to accept it, but their government doesn't and restrictive, so still very difficult for any Chinese to proceed with anything that involves bitcoin.

The crypto community is still strong, look on this forum and find the same

Yeah, just shows how bitcoin has grown through the years. So with or without Chinese influence, we can still go and survived.

Difficult yes,,, I cannot disagree there, but it is usual for crypto in general to go through all these periods of ups and downs and states and regulators work out how to deal with it. And on the other hand for businesses, it is right that they should go through with these pains so that the market works out better for the consumer in the long term!

[cryptomaniac_xxx]

IIRC China is out of the cryptospace for about a month now because they're developing their own digital currency. I admit that they do have a big influence but I don't think that they'll be back soon to rule the cryptospace again.

They maybe out, we can't discount the fact that they can create another FUD in the horizon, so we better watch out news coming from them. Regarding their CBCD, I can't remember but it's on the testing phase already. And as they exit, there are countries that will fill the void that they have left, so nothing to worry about. It's that the FUD coming from them have that effect on the price short term.

[lepbagong]

China is a big country, if it is true that bitcoin will end up in China maybe the crypto market will have a big effect and a dump will occur. but i think the crypto community in china will not stand still and will definitely put up a fight to keep the crypto community going and bitcoin be victorious there. government sentiment can be stopped with positive things from the community itself

when we talk about China's role in crypto we can't underestimate that indeed they are a country with a large population in crypto. So whatever is said by the Chinese government, it can be ascertained that there is a certain purpose that we will never know, because this is the umpteenth time China has done this. the crypto community also probably already understands what the government means and they will usually do their best to keep crypto contributing there.

Yeah China is a big country but you're too late pal, they're already out of the crypto picture because they have already banned mining in crypto because they try to make a good red carpet for their upcoming project which is the Digital Yuan. Plus, China is going to be strict when it comes to crypto even if they want to go back at it.

the prohibition carried out has a political content carried out by the government, and it can be ascertained that there is a certain purpose that will be carried out by the government with the prohibition. but still they will follow the rules, they can always manage it because it's not just this once.
China is smart to do any maneuver and is able to make duplicates that resemble the original and we can't see just now but for the future.

[EewardDean]

Bitcoin will not end in China. This is the trend of the times. There will be investors in every country who are willing to invest in cryptocurrencies. China is no exception. On the contrary, there are many investors in China, which have played a very important role in cryptocurrencies. When the government wants to ban Bitcoin, there will always be someone who has a way to continue buying or trading Bitcoin! This will not end.

[Trojane]

Bitcoin will not end in China. This is the trend of the times. There will be investors in every country who are willing to invest in cryptocurrencies. China is no exception. On the contrary, there are many investors in China, which have played a very important role in cryptocurrencies. When the government wants to ban Bitcoin, there will always be someone who has a way to continue buying or trading Bitcoin! This will not end.

Where do you get informations from?
China has officially ruled out bitcoin from thier Economy and that's no what we should be assuming by now.
They are trying to convince the world and change the whole "crypto conception" .
Read for your self and stay updated
https://www.thenationalnews.com/business/money/bitcoin-slump-continues-after-china-rules-out-using-cryptos-for-payments-1.1225454?gclid=EAIaIQobChMIrq235oui8wIVj9V3Ch16egBkEAAYASAAEgKnMPD_BwE
They might decide to change thier mind in the future but for now,
Its a NULL idea
Sometimes the things we post either educates and illuminates or 
EXTINGUISHES every reader.
So be careful of sharing wrong informations
Regards
Trojane💎