China says all crypto transaction are illegal

[Imam Nuddin]

China is a well known as the major country like US, that's why any bad statement may give bad impact to the crypto but to be honest it's fake news. https://www.trustnodes.com/2021/09/24/bloomberg-publishes-fake-news-on-bitcoin-as-china-prints-100-billion

I guess bloomberg already ordered to create fake news and such statement already created a few weeks ago. So many times china was banning bitcoin and it doesn't give big impact. This will become a short term dump

I agree that China is one of the most influential countries in the world. but I'm not sure if Bloomberg was ordered to make fake news. do you have solid evidence?

[1714464506]

1714464506

[1714464506]

1714464506

[1714464506]

1714464506

[1714464506]

1714464506

[1714464506]

1714464506

[Imam Nuddin]

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

All developed country governments always have certain strengths in several fields including the economy and investment so that this can happen if the Chinese government wants to do it with sincere intentions.

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 think everyone's trust in cryptocurrency lies not in the Chinese government, but lies in itself when it really understands the market and the conditions of the crypto space completely.

I do not agree with this opinion. indeed, back to each individual. but what if the global market is not attractive to crypto because there is a market game by the Chinese state for example. is there still a lot of interest in cryptocurrencies?

[Imam Nuddin]

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

Try to compare it with the recent fake news about Litecoin and Walmart. Such big companies can even shake the market temporarily. It is no doubt that the government is able to shake the market this much. As you all know China is at its behaviour again, banning crypto for the nth time. Cryptocurrencies spaces are still early yet if you look at the bigger pictures, it able to prove cryptocurrency especially Bitcoin are here to stay. Not to mention that the regulatory issue across countries toward crypto hasn't yet been at its finest. So the volatility of the market is expected.

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

People don't follow an authority government willingly. It doesn't mean if some countries haven't yet had clarity about crypto regulatory, people didn't believe it has potency. It is rather the opposite, people believe cryptocurrencies have a lot of things to offer rather than stick to what their governments provide in terms of monetary things.

This opinion is easier to accept. that people believe that cryptocurrencies have a lot more to offer than sticking to what the government provides

[robattfield]

China is creating its own playground and if it wants to separate from the rest of the world, that's okay. Anyway, the market still has to exist and develop, I think the future can have many other big changes with this market. China says crypto transactions are illegal , just looking back at the legal issue here, I firmly believe that the crypto trading system can't have many illegal transactions in fiat at the moment.

[Imam Nuddin]

they have said the same thing over and over again.
I think as a person who is in crypto, you are familiar with China, but believe me crypto is not owned by China so whatever they say will not have a big impact on the market.

China is trying to influence the crypto market, but some of the efforts they have made have had little impact. I'm sure they will continue to try to influence the crypto world not to grow rapidly in the world.

[Fredomago]

Whatever China said it doesn't matter it impacts the market for sometime. In the recent time we heard several news China did this and that but what happened in the end market bounce back with more bang so we should not worried what china is doing we should focus on trading.

It was a long time ago that many FUDs from China came for cryptocurrencies to scare everyone in cryptocurrency, but as long as investors and traders still love all cryptocurrencies, there will always be a revival in the cryptocurrency market, so there's no need to be afraid of these things that kind of thing again now.

China's fuds/negative news is no longer affecting the market people learn and now opposing the directions in where China wanted to bring this industry, there are lots of times where China influenced this venue of investment, each time they bring negative news the market follow that directions and we will see dumped and huge downfall.

But now, despite of this country's direct statement against crypto, it didn't affect the market. Instead, the market continues to grow and expects more before this year will end.

People realize that negative news should be treated as good opportunities to collect and hold your asset, the chance of bouncing back will give you more profits.

[errorcode99]

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 think China doesn't update news for bitcoin, always uses the same news, but if newcomers like to read, they will definitely not panic if there is bad news from China, by acting first and seriously then publishing the same news about bitcoin mining ban

[budi12]

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 don't know, but the news was deliberately made to buy bitcoin at a cheap price, and as usual managed to make everyone panic, like the same thing was done over and over again but people seemed to be hypnotized and followed the news into panic, and as usual it worked. China is irrelevant to give such a statement who cares about the actions of the Chinese Government on crypto, China is not the world so let the story fade and die apart from that many Chinese people still use Bitcoin and other major cryptocurrencies I believe that dump has nothing to do with that statement if articles are verified to be true due to a lot of fake news nowadays.

[superman184]

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?

Haha.. They are not tired of spreading bad information about cryptocurrencies so hope there will be more in the future. I don't know if they are trying to convince investors to switch to their own digital currency or do they really want the crypto market to collapse? Because you know they keep posting the same thing every day or month. So maybe China wants to conquer space as it does even in real life when they claim the territory of another country.

[NFTking84530]

China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. "Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets"

[dEjAvOU]

Whatever China said it doesn't matter it impacts the market for sometime. In the recent time we heard several news China did this and that but what happened in the end market bounce back with more bang so we should not worried what china is doing we should focus on trading.

The crypto community is already strong and unlike 2018, which was still small, even today millionaires and global investment companies make crypto their main investment so that the market is very positive, and I'm sure whatever China does when all crypto is banned will not have any impact on the market.

[Igurugwu]

Well most people don't realize that nobody can stop crypto that's why they keeps panickinhg with every little news and they don't even care to verify the source of such news. Sometimes people intentionally creat such news to instigate fear in the market.

[Yiodilly]

China has not even legalized crypto before, even their NFT alike stuff named 'digital art collections' are not traded by using crypto. According to Shanghai July New plan for NFT, metaverse etc. , it says that they're going to develop more in that field but does not mention anything about crypto. So, what China says about crypto is not really important, as always

[JayTrain]

China clearly affects the crypto market, because this country is widely developed and with huge capital among the billion-strong population, where the Chinese have a huge influence on the cryptocurrency exchange rate.But gradually the influence is weakening, and it seems to me that this is due to time.

[Wong Gendheng]

The news that China Banned Cryptocurrencies I have heard since 2015, whether it is true or not but it does not have an impact on the market, even when in 2017 the Chinese government is banned mining, it makes prices skyrocketed, this proves that the cryptocurrencies community is spread widespread and will not affect if there is 1 or 2 banned bitcoin countries, even I'm sure users in China are still active in Cryptocurrencies.

[fuguebtc]

The news that China Banned Cryptocurrencies I have heard since 2015, whether it is true or not but it does not have an impact on the market, even when in 2017 the Chinese government is banned mining, it makes prices skyrocketed, this proves that the cryptocurrencies community is spread widespread and will not affect if there is 1 or 2 banned bitcoin countries, even I'm sure users in China are still active in Cryptocurrencies.

China used to be the world's largest bitcoin miner, but that's gone. Their banning of bitcoin in all its forms from mining to trading severely affected the market, but in the end they were not able to completely stop the growth of bitcoin. Bitcoin is still growing and going up without depending on any country, China has been too delusional about their strength. Today news from China barely affects bitcoin and the market.

[trendcoin]

China is the most developed country of the antidemocratic world, but for all their wealth, they are intolerant of innovation and people's financial freedom. I think they are a good example for anyone who desires their own freedom. Before we can claim our freedom in financial and social areas, we must first claim our freedom. Otherwise, we may fall into such disgraceful situations.

[judaspriest]

China has been providing FUD for cryptocurrencies for a long time, I have heard that in 2017 Bitcoin was said to be illegal,
and they were going to ban Bitcoin, however, look!, there are many cryptocurrency projects from China,
so don't worry, news about china is fake!

[boty]

The news that China Banned Cryptocurrencies I have heard since 2015, whether it is true or not but it does not have an impact on the market, even when in 2017 the Chinese government is banned mining, it makes prices skyrocketed, this proves that the cryptocurrencies community is spread widespread and will not affect if there is 1 or 2 banned bitcoin countries, even I'm sure users in China are still active in Cryptocurrencies.

China used to be the world's largest bitcoin miner, but that's gone. Their banning of bitcoin in all its forms from mining to trading severely affected the market, but in the end they were not able to completely stop the growth of bitcoin. Bitcoin is still growing and going up without depending on any country, China has been too delusional about their strength. Today news from China barely affects bitcoin and the market.

let them do anything they want but today we are being smarter than before. Fud from China will not affected anymore since majority huge mining company move from China. Investing at anything that being banned by China was good thing, several company prove it. Someday China will regret they could not participate on technology changes that bring alot money for them.

[Warkop]

Actually this issue has been discussed from year to year, and there doesn't seem to be a problem in that regard, I think this is a Chinese conspiracy to find space, because what we know is that China is smarter to find space, in order to dominate the world economy, we can see now this is an industrial market and Chinese products are everywhere, it's not without reason they don't have it, it's very impossible for developing countries not to legalize cryptocurrencies..