All crypto declared illegal in China!!!!!!!!!!!!!

[Betwrong]

Will be interesting to see how many people in China continue to use it anyway.  I'd continue to accrue BTC if my country banned it. 

It's all a matter of what consequences you're facing.
If for example Norway would ban bitcoin and the fine will be a few hundred krone probably not that many people would care, if the county banning it is China and the punishment is 20 years in prison or even worse then the percentages will reverse. And it's not only about the punishment but the mistrust that somebody will give you away, nobody will hunt bitcoiners in the Western world, but when it comes to surveillance in China, that's a different thing.
~

It's true, and also so disgusting at the same time. Why people should live in fear? Why deprive them of their basic rights? Only because you want to stay in power longer hiding behind communist ideas, pretending you are all for the absence of social classes, while being elite yourself? I hope this repulsive behavior of the Chinese government will result in nationwide revolt.

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[imstillthebest]

How will this impact Bitcoin and other cryptoprojects?? What do you think guys

what do you think will happen ? common sense , china is a huge country and has a huge influence in cryptos so if crypto is banned on thier country , people cant buy cryptos anymore . its either the price of cryptos will now be more stable or will fall down if ever china people have given a chance to sell before the ban happens  .
not only that but some people outside china will also worry and sell too but lets not be like them because cryptos will surely recover soon or the ban will get lifted again.

[peter0425]

China will not long to change this mate because their people will seek way on how to use crypto because this is already part of their daily living lol.

China's influence in crypto is very strong. I hope that with China having this controversial policy, we can take full control of crypto as soon as possible in another country so that the crypto market will recover. and the hope of all investors to be able to avoid China's unreasonable policies that only cause losses.

strong in what sense? do this news really affect the market that bad? nope it is not that large meaning china already dont have that big influence in crypto now.

[jakdanyel]

They said that the cryptocurrency market and Bitcoin price have been affected deeply by this news. But I don't see anything like that. Bitcoin price is still at $42k level. People should understand something that the market is not affected highly by this kind of FUDs anymore. For example, the reason of the big dump for Bitcoin price from $52k to $42k wasn't any kind of FUDs. It was just about the high volatility, the character of the coin I mean.

[Macadonian]

Every time they ban Bitcoin the usage in China increases not decreases I do not understand why they continue to think that this is helping them. If they do not want people to use Bitcoin then maybe they should lessen their restrictions on the people of China and allow them freedom and then they would not seek alternatives. I hate how China controls the population but what is funny is by banning Bitcoin again they are giving it the spotlight in the news which increases adoption. Do you think that the Chinese people listen to the government? I do not know one Chinese person that does not use a VPN to get around their restrictions and I do not know one Chinese person who will listen to this ban and will continue to use Bitcoin.

[rahmathidayat93]

I see Bitcoin is running normally, there is no impact at all due to China banning crytocurrency transactions in their country. Cryptocurrency is a wonderful technological idea and as a financial freedom solution for users and investors in it provided they have skills in trading. China as a country has its own reasons for banning crypto, I think it can disrupt the country's finances and worry if fiat falls if crypto is legalized in their country.

[molsewid]

They said that the cryptocurrency market and Bitcoin price have been affected deeply by this news. But I don't see anything like that. Bitcoin price is still at $42k level. People should understand something that the market is not affected highly by this kind of FUDs anymore. For example, the reason of the big dump for Bitcoin price from $52k to $42k wasn't any kind of FUDs. It was just about the high volatility, the character of the coin I mean.

Personally speaking I do expect that this declaration of China about all crypto as illegal will greatly affect the market of bitcoin but we see that the bitcoin market price sitting safe at  $42k. It made me realized that bitcoin market were not easily affected by this kind of news though it will always have a feedback or impact maybe we could see it sooner or later but comparing on the bitcoin market wayback 4-5 years ago, bitcoin market now could strongly accept the FUD without greatly affected the market.

[Spack17]

This is not a surprising decision for me. China has already been against any kind of cryptocurrency activities. They banned cryptocurrency mining first. Now, they started making cryptocurrencies illegal. They are completely against especially the volatile cryptocurrencies. They don't want their people to risk themselves by making investments into them I guess. But it should be left for people's decision I think.

[Alisha FR]

China very often makes bad news about Bitcoin and Cryptocurrencies, and usually this has a big impact on the Bitcoin price. A big drop is imminent, and this is sure to be used by the big whales to buy Bitcoin in bulk.  Our advice if there is a big drop in the price of Bitcoin, we don't need to panic and don't sell your coins cheap. 
Remember that this kind of incident doesn't just happen once, and after that the Bitcoin price will definitely go up again. Keep calm with bad news like this.

How many times did China make a move like this and yet, bitcoin thrives? Bitcoin may drop but it will go up again. They are not the determining factor here whether bitcoin survives or not. If other countries are more welcoming with crypto, it seems that China is moving backwards in terms of crypto. Anyway, crypto activities will move forward even without them.

That's right, China doesn't have the slightest influence on crypto. The fact is that until now the opposite has happened to China that China is lagging behind in the development of crypto technology. Crypto stability is not determined by China, unless countries around the world issue rules not to use crypto, this will have an impact on the development of crypto. But this is impossible, the evidence is that El Salvador has made Bitcoin a legal tender.

[NotATether]

There is and will always be a Chinese shadow industry (black market, etc.) that deals with cryptocurrencies underground, crypto ban or not. It's unlikely to affect the average Chinese citizen as they can always switch to using them instead.

what do you think will happen ? common sense , china is a huge country and has a huge influence in cryptos so if crypto is banned on thier country , people cant buy cryptos anymore
~snip

China doesn't have as much influence ever since they kicked crypto miners out of their country.

[firesurfer]

Cryptocurrency ban affects only crypto companies with headquarters in China and miners. The promotion of cryptocurrencies will be completely banned on social networking sites in this country.
Telegram will be the next social network that Chinese people turn to access cryptocurrency.
The Chinese government's ban is not new, and its influence is not as strong as in the past. I believe that the FUD news from China is losing value, no one will care about crypto bans anymore.

[retreat]

<...>

China's market regulators and the Ministry of Public Security said cryptocurrency is "disrupting the economic and financial order, breeding illegal and criminal activities such as gambling, illegal fund-raising, fraud, pyramid schemes, and money laundering, and seriously endangering the safety of people's property."

How will this impact Bitcoin and other cryptoprojects?? What do you think guys?

The impact that is felt, of course, exists, but only Chinese citizens who play crypto are affected, but globally it will have absolutely no impact. China's war on crypto hasn't happened in 1 or 2 days but it's been years, China actually really hopes that other countries can follow in their footsteps to ban crypto but it doesn't happen "Lol

[add1ct3dd]

I see Bitcoin is running normally, there is no impact at all due to China banning crytocurrency transactions in their country. Cryptocurrency is a wonderful technological idea and as a financial freedom solution for users and investors in it provided they have skills in trading. China as a country has its own reasons for banning crypto, I think it can disrupt the country's finances and worry if fiat falls if crypto is legalized in their country.

Because now crypto market is familiar with decision's like this from China it's not happening first time they're already doing this job every year but still many peoples trading and investing in this because they feel much better and independent in stick communist hold country with this crypto.

After this news now I am feeling better because it's end of crypto for China, and we will be some better because now China factor will not affect overall market now we have some very good mass adoption which is working very positive for crypto and bitcoin hopefully this will more help for better way of crypto market.

[dupee419]

It's just a huge excuse for them to mention about the illegal crime activities that involved cryptocurrency, it's such a weak alibi that they didn't even hesitate to put it in their statement, also, China's population is enormous, 1,411,778,724, the impact may not be huge considering the government of China being against crypto ever since, the impact of this to the market is not that enormous, but the impact of this ban to chinese citizens or at least the people who live in China is what impacted the most, they'll have to withdraw or exchange their bitcoins, or else, all of their efforts are wasted, I'm pretty sure before the ban was applied, there was a heads up, but if there wasn't, then that's quite unfortunate.

[pealr12]

Why China always show disinterest on crypto so much that they always declare it on the news all the time! Why they like doing this, Is crypto such a big threat to their economy that bad they are compel to always have bad publicity for crypto! It is really becoming very boring to constantly read about such negative news from China all the time, my wish is to see the crypto community going stronger without their influence.

[Macadonian]

It's just a huge excuse for them to mention about the illegal crime activities that involved cryptocurrency, it's such a weak alibi that they didn't even hesitate to put it in their statement, also, China's population is enormous, 1,411,778,724, the impact may not be huge considering the government of China being against crypto ever since, the impact of this to the market is not that enormous, but the impact of this ban to chinese citizens or at least the people who live in China is what impacted the most, they'll have to withdraw or exchange their bitcoins, or else, all of their efforts are wasted, I'm pretty sure before the ban was applied, there was a heads up, but if there wasn't, then that's quite unfortunate.

China are known for controlling their population with strict laws they cannot access most of the internet unless they use a vpn but the problem is they find it hard to get access to a vpn because most providers websites are blocked. I do not know why China keep unbanning and banning China instead of keeping it banned but I guess they are trying to destroy it by creating uncertainty but as we know Bitcoin will only be effected in the very short term of this news.

[romero121]

China played a big role in the early days of cryptocurrency existence. In that way China is a backbone to the cryptocurrency network that has got widened as a big market at present. If they haven't made some initial steps and made strict laws against cryptocurrency usage now we could've never seen this big growth with cryptocurrencies.

At present when someone is leaving the market, there is always people ready to take the same position. So, China's ban won't be making big impact in the long term.

[blckhawk]

i think this is only a FUD so that china can buy the dip again. if i remember they also did this some time ago and still after a while they still allow it, this is just some of their strategies to monopolize the bitcoin supply so that when it comes to resources they have the upper hand than most countries do.

[Sithara007]

i think this is only a FUD so that china can buy the dip again. if i remember they also did this some time ago and still after a while they still allow it, this is just some of their strategies to monopolize the bitcoin supply so that when it comes to resources they have the upper hand than most countries do.

Yeah... it looks like that. China has crashed the exchange rates at last a dozen times since 2013 and in none of these instances the impact lasted for more than a couple of months. A few months back, they had cracked down on mining, and there was minimal impact on the network. Miners simply moved their equipment to neighboring countries like Kazakhstan. At this point, I would say that China needs Bitcoin more than the other way around. And unfortunately they are taking a stance which is diametrically opposite to the one they took in 1990s. Back then, they encouraged hi-tech companies to invest in China and that resulted in enormous economic growth over the past 3 decades.

[Hasan905]

Bloomberg Publishes Fake News on Bitcoin as China Prints $100 Billion
https://www.trustnodes.com/2021/09/24/bloomberg-publishes-fake-news-on-bitcoin-as-china-prints-100-billion
"Bloomberg, the anti-bitcoin publisher of the pre-internet age, has sent out outright fake ‘breaking news’ that sent bitcoin’s price down by $2,000 from $45,000 to $43,000."

Communists are not always to blame, sometimes cunning businessmen are to blame.

It is true that many times we do not see or understand the real imaginary, they blame others for their interests so that people do not look at them.  They arrange everything in such a way that no one can understand their real purpose.  Through this, they achieved their interests and left.