How are you taking the China Bitcoin Ban?

[Zilon]

This ban should be a major concern for those living in China. In my own locality we have banned bitcoin severally but its still in use and our exchanges are fully functional we even launched our own digital currency and have many top companies around buying bitcoin and saving converting most of their company asset to crypto. The ban of crypto in China has little or nothing to do with me since I don't base there

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[velosepur]

Not first time, not last time for sure. China repeat ban again and impact on market was not so big. Old crypto users dont upset too much, they use this actual dip to full bags cos recovering will happen I think.

[marine4u]

It is not worth complying with the enactment of policies that mistreat their interests for years in search of huge gains in bitcoin. That bullshit FUD and FUD continues. Building firewalls that block their citizens from accessing CMC or CG is as much bullshit as I can understand. Lol

https://www.yahoo.com/now/china-blocks-coingecko-coinmarketcap-other-071627705.html?

It is like a big stimulant for bitcoin to quickly move away from the $50k stop and towards $100k. I expect them to fall further behind the US in a war where their position has been in favor of bitcoin in the past.


Source: https://twitter.com/100trillionUSD/status/1442497334995144723?s=20

[worle1bm]

For me personally china ban didn't even matter because it's not the first time they are doing such things and keep on ignoring such news whose main aim is create FUD in the market and those who panic sell at this time are the ones who loose in the end.China holding themselves and banning others from holding it is clear sign of zero financial freedom over there.

[KaliLinux]

Some reports telling that china government's place is second in holding Bitcoin. But we're seeing that china is always publishing negative news about crypto currency / Bitcoin. They've published noticr about banning Bitcoin in a several times.
Ref:

https://www.kevinrooke.com/bitcoin.

What do you think about this? How are you taking this ban?

So since this was as a result of crypto seized by the Chinese Government from "the PlusToken Ponzi scheme crackdown" then I wouldn't really say it belongs to the Chinese Government as if they Invested in Bitcoin and became the second-largest Hodlers of Bitcoin even though it is in their possession. I think we do understand why this is the case since the Government has made its position known about Bitcoin and Cryptocurrencies in general and we see the effect that NEWS constantly cause on the market. I do however believe that all this crackdown on crypto by the Chinese government will eventually come to an end and there will be no more thing to say about crypto anymore in the near future. 

[Shasha80]

For me personally china ban didn't even matter because it's not the first time they are doing such things and keep on ignoring such news whose main aim is create FUD in the market and those who panic sell at this time are the ones who loose in the end.China holding themselves and banning others from holding it is clear sign of zero financial freedom over there.

I agree with you, we don't need to panic about the news that China will ban Bitcoin, it's FUD that the Chinese government has often spread.
They want to see the price of Bitcoin fall, because for them the existence of Bitcoin is only a threat to their digital currency. Indeed, many people
are quite affected by the news, especially newbies will definitely become panic sell. But we must remember that many institutions have invested
in Bitcoin in the long term, meaning that the Bitcoin support price is quite strong and won't drop below $30k this year.  So we have to be patient
and hold Bitcoin until the market recovers. If we panic then we ourselves will lose money, my advice is to ignore all the FUDs that are currently scattered.

[rodskee]

this only concerns Chinese investors because people outside that country has nothing to do with that so why would i need to take this when there are none of us outside china that will be affected on that matter.

Not first time, not last time for sure. China repeat ban again and impact on market was not so big. Old crypto users dont upset too much, they use this actual dip to full bags cos recovering will happen I think.

Right , people in crypto are now knowledgeable of this matter and we are not really affected in all matter.
since i enter crypto China is bullying the market so what is the difference from the past and now.

[the rise]

But it's had an impact on price increases these days. There may be a positive side to China banning this cryptocurrency. Like the price will not be played by the Chinese anymore.

[noormcs5]

This ban should be a major concern for those living in China. In my own locality we have banned bitcoin severally but its still in use and our exchanges are fully functional we even launched our own digital currency and have many top companies around buying bitcoin and saving converting most of their company asset to crypto. The ban of crypto in China has little or nothing to do with me since I don't base there

I have been in this situation before where I see china banning Bitcoin and it effected the market temporarily. The effect of this news or fud is not long lasting one and hence if you have believe in crypto, there is nothing to be worried about.

[ringgo96]

For now I don't care about the negative news spread from china, because in the previous year they have also banned people from using bitcoin but in fact the value of bitcoin is increasing as it happened this year, with the news I believe there are certain parties who want to drop the price of bitcoin and they want to focus on work that concerns the government, And currently the popularity of bitcoin is increasing then we should not be easily influenced by such news.

[LimLims]

That’s really painful to digest.
But we shouldn’t worry, if we don’t belong from China.
Moreover Chinese people can still use Bitcoin, as Bitcoin is decentralised, that is cannot controlled by any government.
So no need to worry regarding all the negativity spreading by government.
Yes the only worse thing can happen is falling price of BTC.
Hope everything becomes normal soon.

[Wexnident]

Nothing new. Really, it's China being China all over again. We've had this what, how many times already, 3? 4? China has always been known to be against crypto, them officially announcing it doesn't seem like it could affect the market that much in the long term. The market of China isn't a necessity in the market of Bitcoin after all, heck, even the ban would probably not even stop people from China who truly want to trade Bitcoin. It was made that way, and I'm pretty sure a country isn't enough to prevent it's core tech.

[marilynmanson21]

the bitcoin ban in china may have a lot of impact for novice btc owners, but for other countries there may be no problem, I personally respond to this ban, my chance is to refill my wallet, where i see from the table that the OP gave china has 2nd order bitcoin in the world, can it is said that china is manipulating the news so they can increase their btc stock,
let's see this table if it updates next year, is China still in 2nd position?

[isaac_clarke22]

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Just heard about that news recently. Even if we think about it anyway, there is nothing we could do about it. I've been seeing a lot of crypto and china news already for a long-time and it just does not bother me a single bit already even in other country bans. GPU enthusiast would be a bit more happy though, since they believe that the inflation of price of GPUs are due to crypto mining and from Bitcoin being banned, surely they are looking and eyeing on the drop of GPU price.

[TribalBob]

all are affected by the bitcoin ban I think, because the decline in the value of BTc to 41k $ at this time and caused a fairly large minus asset, but I believe btc will rise again albeit slowly.
but if you ask about the impact of the ban on crypto in my country it has no impact at all because my government cares little about crypto even though it has not been legalized

[Finestream]

Nothing new. Really, it's China being China all over again. We've had this what, how many times already, 3? 4? China has always been known to be against crypto, them officially announcing it doesn't seem like it could affect the market that much in the long term. The market of China isn't a necessity in the market of Bitcoin after all, heck, even the ban would probably not even stop people from China who truly want to trade Bitcoin. It was made that way, and I'm pretty sure a country isn't enough to prevent it's core tech.

I'm already used to it. And based on what i have seen in the market, there might be some minor dumps when this negative news hit the market, but after a while, they start to recover again. So bitcoin is not really affected unlike in the previous years where there is a  ban, the market suddenly react negatively.

I even think that after all this banning from China, those who are not yet involved in the crypto community will eventually join the team soon. The result comes perfectly positive out from a negative event.  

[bryant.coleman]

Although I don't really like the CCP, we can't ignore the fact that China is the no.2 economy in the world. So a ban in China, is not good news for us. It will have some impact, at least for the short to medium term. But what concerns me more is the fact that China produces more than 99% of the mining equipment that is currently being used. If the CCP can ban mining, there is no guarantee that they will not prohibit the manufacturing of Bitcoin mining equipment. And if that happens, there will be complete chaos at the market.

[Turbolinea]

China's decision to ban cryptocurrencies is just not understandable. They have been against this cryptocurrency market the whole time and finally they have done what they aimed. Nominally, they want to prevent their people from losing money in cryptocurrencies. But they could still have done this by having stricter regulations about cryptocurrencies and the crypto exchanges.

[ivankoh]

It's not the first time they've implemented regulations that are detrimental to bitcoin. If a pre-configured layout among these dictatorships includes the next set of stains that block tradingview, CMC,,, it's messy. It's even worse than the Fed's plan to give power to create new coins and stop Tether. Lol
FUD China has nothing worth keeping. Defi season 2 and Metaveser will be back up trend

[markdario112616]

You know the feeling of getting high with Mary Juana. 

Nah, Tbh I ain't that much affected about the banning issue. In this type of industry patience and being calm is a must, so that's what I'm doing right now. I don't let this issue affects my daily life, trading and any other investments (incl. Crypto and Stock). I focus more on how to improve myself in general and try to gather more information for my next investment.

As much as I see it, this is just a manipulation act and it happens before. History is repeating itself, so yeah Panic is just a common reaction to this type of issue but we all know what happens when we let Panic took over are judgement and state of mind.