China says all crypto transaction are illegal

[adiebitsler]

They can say shit, it won't matter unless they can enforce it. Spoiler: They really can't.

There is no need to care about them or whatever they say because in truth they also want to play a role and politics to get more profit through the market,
so there is no need to ignore it.

[riso2015]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

news like this that we must dim. If we are getting up, it will become a scourge for our circle. It would be a wild assumption to create fear and panic and this greatly affects the value of bitcoin. Therefore, our role is also very important not to continue this kind of news. We need good news that we must spread. But whatever it is, I'm sure bitcoin will continue to grow big in the future.

[pinggoki]

The first few bad news coming from China were impactful because let's be real here, population and economy-wise they have a pretty good standing, and becoming friends with a country as big as China will definitely help in the onboarding of people on what cryptocurrency really is and altogether help in cryptocurrency adoption. But as time went by, people got the hang of the bullcrap that China is throwing over bitcoin, and other cryptocurrencies, just like a couple of days ago when they released a statement declaring that they ban all forms of cryptocurrency and related activities, yet bitcoin and a huge portion of the top coins in the market still pumped anyway. Goes to show that people are becoming smarter by the day.

I think it's natural for Bitcoin to go down some time ago because in FUD it continues, in China FUD, in Elon FUD, in FUD all kinds of things. the solution is to buy crypto with the strongest and safest fundamentals where bad news and FUD are very rare. In fact, both traders and investors are no longer afraid of the sound of fireworks and in my view, they are bored when they hear FUD news, so the solution, when faced with such conditions, is to move to fundamentalist crypto, namely Ethereum!

Regarding the Chinese government has the power to shake the market just with a mare statement I don't think the percentage is too big and it takes a long time to prove that today the market has gone back to normal and green.

Or, do your own research, base your investment choices on facts and not just on mere FUD, I believe this works better in combatting FUD because be it bitcoin or the biggest altcoin on the market, there will be some form of FUD that critics will throw just to upset the otherwise pumping price. If we do our own homework ourselves at the very least we can ensure that the information we get is firsthand and not just some random hearsay

[cafee_orange]

since a few years ago the Chinese state has also banned the circulation of digital currency in its country and even no one is allowed to carry out these activities in the pointed bamboo, things like that do not dampen the enthusiasm of investors in making investments so that digital currencies such as bitcoin, ethereum and other other digital money has the highest price to date. therefore in my opinion, if there is a ban on digital currency in a country, so that it does not become a scary issue for all digital currency enthusiasts

[freedomgo]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

news like this that we must dim. If we are getting up, it will become a scourge for our circle. It would be a wild assumption to create fear and panic and this greatly affects the value of bitcoin. Therefore, our role is also very important not to continue this kind of news. We need good news that we must spread. But whatever it is, I'm sure bitcoin will continue to grow big in the future.

We should not just believe easily in whatever news that come out because some might only be for FUD'S purposes that will make all holders to panic sell. But knowing Chinese government, this has always been what they're doing. For me, their intention is more on manipulative purposes. They might act that bitcoin is illegal and is now put into sanctioned whoever is transacting it but what we don't know is that China owns the second position as the bag holders of crypto. What they are showing is definitely opposite from what they are doing so we should not be fooled by their true intention.

[Renampun]

...

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

To be honest, currently, the majority of crypto players are fed up with Chinese FUD...

Chinese regulations only apply to crypto players residing within China but not globally. After all, every FUD that China does will only last for a short time, it doesn't last long because their influence in the market is not as strong as imagined.

[yohananaomi]

since a few years ago the Chinese state has also banned the circulation of digital currency in its country and even no one is allowed to carry out these activities in the pointed bamboo, things like that do not dampen the enthusiasm of investors in making investments so that digital currencies such as bitcoin, ethereum and other other digital money has the highest price to date. therefore in my opinion, if there is a ban on digital currency in a country, so that it does not become a scary issue for all digital currency enthusiasts

what you say is true, this is not the first time China has banned it. always accompanied by something that seems reasonable, but there is a clear implication that there is a certain motive involved. The goal is clear, many people already know the speculation that China wants.

if developing countries do it, it may not have an impact, but if China is famous where the largest mining takes place there, of course there will be an effect.
although the effect is starting to diminish because of what the country is doing, it's not just one time and it's always repeated.

but what China did did not dampen anything with bitcoin, because bitcoin is still in demand and made an attractive investment by many people. news like that was one of the bad news for bitcoin but now there is a lot of good news for bitcoin too.

[so98nn]

Number one bullshit statement by number one dictatorship country. These guys are like whatever they wanna be at any given time point. Some day they are like most advance crazy hi-tech global over-power and on the other find day when everyone is sipping their coffee comfortably, the China will come out of no where and shock the global economy. I think it's really enough shit for us from the China. Since 2017 there are news and FUD's like this. They really can't make up their minds and they are just playing with the whole world really. What's illegal is, making a mistake while experimenting with deadly virus in the chinese lab. Yeah, that's the mistake and that's what illegal thing is! I believe whatever comes out of China is illegal, they have no right to state what's illegal which is in Public Domain.

[lousie9]

Will that statement hold true forever? as long as I was in crypto China did have an important role in price movements in crypto and some Chinese statements always had a big impact on prices at that time so we could find out the pattern that would be given in the future and maybe if it was true news then some time they will give leeway back to crypto so the price will fly to the moon again.

[speedforce]

China want their people to use their own digital currency, Digital Renminbi. Its probably like how they ban Facebook, Google, Whatsapp, and use their own apps to substitute it.
It would affect world, but it will really affecting crypto users on China land.

[Dewiana]

This is very impossible let alone prohibit transactions, because the rich people in the world are also busy using crypto money for their business transactions, the issues of the prohibition do exist, even though it was hot in 2019 when bitcoin was soaring high, I think this is part of the target of people who do not understand the benefits so speculate differently.
if we examine this it is more efficient and transparent

[rika0223]

China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically

[DonFacundo]

China is always fudding cryptos, that is their strategy to get down the crypto market and if they successfully down the market they will buy more and then they will make a positive news so that the market will go recover. They just manipulating the market, we should not share this negative news.

[Wakate]

China sees its own advantage all its life, that all the time they try to control the market price when they see that their cryptocurrency market is not under their control.  They want to ban cryptocurrencies from their country, bring down the market, then invest their money to revitalize the market and maintain their dominance and control.

I think they can't even try to control the market this time cause investors and traders in China may have gotten an alternative to how they can accomplish there activities in respect of the government ban on it. No matter how China government will try to stop the activities of cryptocurrency in the country, there citizens and others investors will always look for ways to get there transactions done.

[Luffygroove]

Honestly, China isn't that affecting the market now. We can see how China government tried so hard to kill Bitcoin from a long time ago so their own digital currency will have a good place in the country (or even in the world) later, but Bitcoin keeps arise no matter how hard they've tried. Of course, the news got Bitcoin corrected here and there but it's still alive and rocking. IMHO the soonest China is out from the game, the better. They are just nothing but a distraction and it's really irritating.

[mumang siat]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

So far there has been no major influence exerted by China saying all crypto transactions are illegal, if asked if China has the power to shake the crypto market, then we can confirm that China has that power, but not all of them can be influenced by them, even if sources their power has the ability to do that, cryptocurrency is not something that is easy to overthrow, even at the beginning of its emergence, many countries also opposed, but they continue to grow to this day.

[ansarose1]

For me, crypto transactions made depends if it's illegal or not. Speaking of legal ways, i think normal transactions through buy and sell or trades are legit and legal if the two sides transact knowingly what they do for a transaction, but if someone's account is hacked, the transactions made could be illegal.

[fullhdpixel]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

I understand that they would want to reel in the fun and take control over the nation, after all why allow anyone to be as free as crypto makes them to be and be in a decentralized world when you want to rule with an iron fist. However, I do not understand why they are not interested in it as government.

I mean yeah do not let your people do be free if you are a dictator, but wouldn't it be easy to start a 10 billion dollar bitcoin mining farm? They have the money for it, they have the machines for it, they can even create their own machines, they have the energy source for it, basically they could do 51% attack on bitcoin itself, they are THAT big, so it makes no sense to me that CCP itself would be against it.

[albon]

According to the news which was published online today by major news papers.
The China Central Bank said all crypto transactions are illegal and will work with every way possible to put an end to it. Link to news: https://www.bloomberg.com/news/articles/2021-09-24/china-deems-all-crypto-related-transactions-illegal-in-crackdown?srnd=cryptocurrencies
Since the announcement today major crypto currency has been dropping with speed in price.

My question here is, is it that the Chinese government has the power to shake the market just with a mare statement

And is it that people don't have faith in crypto knowing that the Chinese government don't have the power to do so?

This repressive decision is not new, China has since some time and even since 2013 issued such strict decisions against Bitcoin and cryptocurrencies. Fortunately, Bitcoin and altcoins have not been affected much by these decisions. In my opinion, it is difficult to ban Bitcoin in any particular country by any government due to its design because it is not subject to the control of governments and central banks.

[3la9l_kolbaCa]

China is a smart country so it has a lot of techniques in tinkering with the economy, so that in the field of digital currency it is very influential, they are able to shake the cryptocurrency market down drastically

I don't think so they could do that seriously, cryptocurrency has its own independent body and never controlled by a certain powerful country. Even US has no power on that matter, only that China's huge investors was also holders of Bitcoin. That doesn't mean these guys are afraid of that news because it was only a strategy of other anonymous business personality to spread FUD around us in order to crash btc's promising price nowadays.