How are you taking the China Bitcoin Ban?

[milewilda]

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

Intentional or not,it doesnt really matter.If they are top 2 holders of most coins then i wont be surprised that they've been doing these bans just for making the market dips out for them to accumulate more.
Possible?Yes it is but i wont really be surprised that they would be reverting up their ban decisions later on just like on what they had done back in the years on where bans do happen
and later on there was lifting of the ban and now we are seeing bans again? China do really loves on stirring up the market.

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[jakdanyel]

I'm not taking this very good honestly. I don't know why China government banned cryptocurrencies but actually it is not too hard to predict the reason correctly. They have already been antagonizing cryptocurrencies for a very long time. And they have finally decided to impose a ban on them. They didn't want their people to take big risks in this market. But this not the best way to approach to this market.

[Luqman]

They have already been antagonizing cryptocurrencies for a very long time.

Do you know when China was antagonizing cryptocurrencies for the first time? I think not only China, there are actually many other countries to ban crypto. Dude, don't you realize that China is potentially just a victim of news manipulation spreading by the whales? How if whales are intended to target China to be the one to blame for the market crisis? Lately, I am starting to think about this, because many FUDs spreading was just old news.

[Nathrixxx]

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?

One thing i know about china is that they really olay tight and safe in their economy irrespective of the situation, the man satoshi who started Bitcoin is a Japanese and not a Chinese, and you could understand very well that china dont jeopardize with their economy system especially when it comes to inventions, dey prefer to start first and others follows.

I also think they are playing safe in order not to devalue their Yuan currency exchange rate if more priority is given to crypto, all inventions in china today were been made by the Chinese including the internet (ip), network, mobile devices, among others, their official language is Chinese, and make use of all finished end products made in china. They also believe in contending power of rule with the USA with due time, all these features couldn't have possibly aid their conviction to adopting Cryptocurrency as it was not invented by them at first.

[jylopessbell5]

Honestly,I was looking forward to this,it's time for Bitcoin to prove that itself its not dependent of the "all powerful china",see it like  a final proof or task to anyone who remains skeptical.

[TelolettOm]

It's no longer a secret and has long ago this issue blows. Always the issue is exhaled related to China and the prohibitions, such as Never-Ending Bad News.
We also don't know the real meaning behind the issues that are always exhaled. What is certain is that this issue always makes people panic and affect the Crypto market.
During this time, we cannot avoid various games of the Whales and also various interests of major countries. And China is one of the big countries that consistently always gives FUD for Crypto.

So I personally have not been shocked again, just enjoy the process while watching the market movement wants in the actual direction.

[TimeTeller]

It's no longer a secret and has long ago this issue blows. Always the issue is exhaled related to China and the prohibitions, such as Never-Ending Bad News.
We also don't know the real meaning behind the issues that are always exhaled. What is certain is that this issue always makes people panic and affect the Crypto market.
During this time, we cannot avoid various games of the Whales and also various interests of major countries. And China is one of the big countries that consistently always gives FUD for Crypto.

So I personally have not been shocked again, just enjoy the process while watching the market movement wants in the actual direction.

I guess, a lot of us here are now used to this kind of news coming from China.
But regarding the figures posted by the OP, how authentic those numbers are?
Because as it sits right now, China is still holding a lot of bitcoin and don't know what their plans on that stash as they are totally banning its usage?

[ultrloa]

It's no longer a secret and has long ago this issue blows. Always the issue is exhaled related to China and the prohibitions, such as Never-Ending Bad News.
We also don't know the real meaning behind the issues that are always exhaled. What is certain is that this issue always makes people panic and affect the Crypto market.
During this time, we cannot avoid various games of the Whales and also various interests of major countries. And China is one of the big countries that consistently always gives FUD for Crypto.

So I personally have not been shocked again, just enjoy the process while watching the market movement wants in the actual direction.

I guess, a lot of us here are now used to this kind of news coming from China.
But regarding the figures posted by the OP, how authentic those numbers are?
Because as it sits right now, China is still holding a lot of bitcoin and don't know what their plans on that stash as they are totally banning its usage?

Yeah right knowing they always do this so we can expect that repeatative schemes will not totally give huge effect in the long run thats why we see only small declines happen in the market and this is also an indicator for others to not easily get panic once there is an issue like this come since for sure after the dump happen the pump will follow since those who want to make bitcoin dump will accumulate at the dip.

[Dread Pirate Roberts]

Chinnese Goverment hold 194k bitcoin ? where do all those numbers come from? confiscation from the government to their citizen ? regarding your question I might not feel any impact from their regulation about bitcoin ban. maybe people from that country who have spent a lot of money investing in crypto and crypto-related industries are feeling the impact about that.

[ipanks]

Chinnese Goverment hold 194k bitcoin ? where do all those numbers come from? confiscation from the government to their citizen ? regarding your question I might not feel any impact from their regulation about bitcoin ban. maybe people from that country who have spent a lot of money investing in crypto and crypto-related industries are feeling the impact about that.

It seems China really used the moment from their bad news banning bitcoin and buy a lot of bitcoin. I think they will try to spread another negative news about bitcoin to buy more bitcoin, especially if the price can drop for more. We never know how China can collect that big amount of bitcoin but from what they did before, they really know how to confuse people with their statement about bitcoin.

[acroman08]

What do you think about this?

nothing, I mean, it is quite clear where they are heading at. it was only a matter of time before they completely ban bitcoin in their country.

How are you taking this ban?

what is there to take? I am pretty sure a lot of people(including me) have expected for this to happen. they've been slowly banning bitcoin in their country for years now so there is nothing to be surprised about or be worried about.

[Wildwest]

For now there is a lot of negative news spread in the media about the crypto world, and now the chinese state again bans the use of bitcoin and this is not the first time, and I will not care about the news because the current growth of bitcoin is increasing and the current decline is only temporary and we should be able to use some of our assets to invest and rest assured the increase will happen again, and news from china just as an engineering to drop the price of bitcoin.

[RiskySanchez]

This is really weird China bans bitcoin, mining and all crypto markets I think what conspiracy is China planning? Every 4 years when the bitcoin trend increases, that's where Chinese news always appears and continues to sell old news, is this a scheme of the whales? who knows. it's all still a mystery China's freedom is to use the products they own not the world owns that's what i understand how china works in regulating their country because of that crypto is the goal of china to regulate it from their country including dumping bitcoin prices

[osasshem]

I will take my say that the ban can and will majorly affect the users within and from the China region. The Chinese has more users, followers, backers and supporters in the crypto world. When we talk or look at the big miners, it comes from China, and now the government is kicking against it. This which the Chinese government is doing is to affect the international usage of bitcoin from banks and local stores (cause I will believe China is already making use of bitcoin on the daily activities). This ban will not be affected if the coins are stored in cold or offline wallet, whereby the internet is not need for that.
This will affect the price of bitcoin as fundamental analysis will have its play somehow, and which will not take long.

[Mr.sprin]

Until now bitcoin is still standing and the price of bitcoin is not so affected by the issue made by the Chinese state, this proves that bitcoin is independent and does not depend on anything even on the state. With this incident bitcoin is increasingly in demand by new investors.
China makes issues like this, of course they have a mission and if the price of bitcoin goes down with the issue they make then they will buy bitcoins in large quantities and after that they will make positive issues about bitcoin with the aim of boosting the price of bitcoin and they sell it they will get the advantage of this incident, so don't be easily influenced by issues made by countries like China, they only prioritize personal gain and don't care about others.

[kayiboyu]

I'm not taking the China ban very good because it affected the market in a really bad way. Maybe Bitcoin price didn't drop very sharply and it is actually maintaining its usual level. But the main problem is that there will be so many people who will have to stop using Bitcoin or any cryptocurrencies. As people will start selling their coins, this can cause Bitcoin not to hold onto the current resistance level for a long time.

[glendall]

maybe many people don't care about the news of the bitcoin ban from china, because this is the umpteenth time china has made a statmed when it prohibits activities in the form of bitcoin, if I'm not mistaken from 2013 this news started to exist, but we can see bitcoin still exists and continues to grow , I think this news is just a price diversion so that the Chinese people can buy bitcoin again at a low price and make bitcoin reach a new ath again

[Cling18]

I do not live in China, so the ban doesn't bother me at all. It would have an impact on the price, but that would only be temporary, eventually the market would adjust to it. The Chinese government simply locked themselves out of the network.

My country banned banks from mediating transactions involving Bitcoin some months ago and this actually increased the popularity of bitcoin, so, the decision of the Chinese government could actually have a positive effect in the long run.

It's a good thing that most of us here aren't living in China. The market might be affected by the banning these days but I'm sure that it wouldn't affect Bitcoin in the long run. We all know how Bitcoin could surpass all the tests of time and because of its stronger foundation, I believe that it could stand firmly despite this kind of ban.

[mksundip]

I'm not taking this very good honestly. I don't know why China government banned cryptocurrencies but actually it is not too hard to predict the reason correctly. They have already been antagonizing cryptocurrencies for a very long time. And they have finally decided to impose a ban on them. They didn't want their people to take big risks in this market. But this not the best way to approach to this market.

we have to realize that china is doing propaganda market for crypto especially bitcoin.  If it's true that China is banning crypto, China should be sporting to prohibit anyone in China from owning bitcoin.  However, the reality is that China currently occupies the 2nd position with the largest crypto holdings in the world.  this is clearly an unreasonable thing and a market propaganda for china to take advantage of the moment to profit from bitcoin in the future

[NotFuzzyWarm]

Frankly, I really do not care one bit about China banning crypto.
Ja it sucks if you live there but I don't