How are you taking the China Bitcoin Ban?

[Em00n01]

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?

[jackg]

I thought bans normally make things more saught after, especially for those against a government (and China seem quite imperialist afaik so there might be quite a few against them from within).

If they did ban it, it's got the word out there and it's quite uncontrollable to posess - you don't need an internet connection to keep your bitcoins secure - just a private key... It probably won't cut down on scams or anything too, it's just likely designed to stop citizens/companies investing internationally (I'd guess).

[nelson4lov]

Tbh, I'm not that bothered about the ban. The only downside to that news is that market always reacts to it negatively and that's what we're seeing right now. Aside from that, I'm not bothered. I mean, this is actually not the first time that China has openly gone all out for crypto and definitely won't be the last. Just like @jackg said, the ban might just be to prevent people from investing and that they should focus more on government based ventures.

[Upgrade00]

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.

[riskarcher]

That's what happened to bitcoin the news was always repeated to dump bitcoin, I just thought why they always use the same way of selling news about china? . China has always banned bitcoin in its society, is this the work of the whales? I don't know all I know bitcoin still has a good correction chart no matter what news is made but in this year everyone realized it would not be possible with news to be able to bring down bitcoin with the ability of the current audience

[btc_angela]

This is not the first and won't be the last that we will hear about China's hard line stance against BTC.

So it's better not to get affected by this news and instead look at the bright side, fill your wallets with cheap bitcoin. The only one that will be affected is the Chinese bitcoin community, but then again, maybe they've also has plan B about this move by their government. So I guess the best thing to do right now is just be patience and don't get overblown on news coming from China. At least we should be immune to it by now.

[sheenshane]

I thought seized Bitcoin should be in auction for sale and the money used by the government as a governments fund and not held by the government.
This is not what you're talking about they are holding Bitcoin, they're holding Bitcoin from a seized exchanges and they aren't the real owner of that large amount.

It's now owned by the government once they caught it from criminals.  But I think this is not good they are holding people's owner bitcoin but instead selling it as an auction so that the fund can be used it.

It has a huge impact on the Bitcoin price if all of these organizations will sell their Bitcoin.

[Luqman]

I don't know what China government wants, but with spreading negative news we know they don't support the growth of Bitcoin. If China government owns a big number of Bitcoin, doesn't mean they like Bitcoin. Those Bitcoin probably got from criminals or taxes from Bitcoin users in China. They may not sell the Bitcoin to the market, just keep the Bitcoin on the wallets.

[Poker Player]

I find it pretty boring actuall. Same old FUD again, here we go!

What I am really waiting for is whether in the few remaining months of the year we are really going to have a rally, as most of us expect, that mimics what has happened in previous cycles. If this does not happen, many predictive models will have to be rethought. And it would have to be analyzed whether the price behavior is due to causes such as China or others, rather than supply and the pattern of cycles.

[btc78]

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?

are you a chinese ? if not then why care about their banning? i don't know what is your main objective here but it seems that China had banned Bitcoin slowly for long time , first Mining and now totally Bitcoin.

I don't know what China government wants, but with spreading negative news we know they don't support the growth of Bitcoin. If China government owns a big number of Bitcoin, doesn't mean they like Bitcoin. Those Bitcoin probably got from criminals or taxes from Bitcoin users in China. They may not sell the Bitcoin to the market, just keep the Bitcoin on the wallets.

they holding Bitcoin because of the opportunity to profit but now that they have their own currency then leaving bitcoin and pushing their Own is what they are doing.

[Rikafip]

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

Taking it pretty much the same way I took all other previous bans in other countries, meaning not caring about it at all. It is true that this ban is probably the harshest so far in China and market reacted to it, but to be honest, the less Bitcoin has to do with China, the better. So whatever happens, its not bad for Bitcoin in the long run.

[Rahman11]

China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin. ... China is one of the world's largest crypto-currency markets. Fluctuations there often impact the global price of crypto-currencies.
China wants to crush crypto because it hates the smell of freedom.
But China’s ban won’t big impact crypto at all.

[Kusman]

Maybe China government wasn't holding the most Bitcoins but it had so many people who were interested in cryptocurrencies and as traders. So this can be seen as a big loss of demand for Bitcoin. And these times, the prices in the market is affected directly also. Bitcoin price starts struggling to break the resistance levels and this goes on for a long time. But it will not affect the market forever and at some point the market will have a new bull run.

[oktana]

Who cares if China bans Bitcoin? What do they have to give us? Nothing! Just constant bans that only affects our market and trades. In all of this, that's my only concern; the market's reaction to the news. IMO, what they did a few days ago was uncalled for. If they want to want to renew their ban or whatever, they should consider it's effect and not do it in bear runs. But they don't care anyways.

[Kakmakr]

I am not bothered at all....

When China announced that they are banning Crypto currency mining, the Bitcoin price dropped a little ...and then it recovered. So let's analyze why that happened.

1. The Chinese Bitcoin miners started to dismantle their operations in China and they simply relocated to Bitcoin friendly countries. 
2. The initial news scared some speculators and newbie traders, but the more experienced Bitcoin traders and hoarders just smiled.
3. Some other positive events eventually just counter the negative news... so we just wait it out. 

Do not panic when the mainstream media tells you "that the sky is falling" .....the over react to sell the news. 

[AicecreaME]

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?

I think it's not something to be worried about. China has done this numerous times in the past and they are doing it again to spread FUD to make the market go bearish. When they achieved the thing that they want which is to make the crypto prices go down, they'll just buy the dip like a wise investor. And I think we should do the same. Don't let the FUD get into you and shaken you up to sell your assets at a low price, instead take this situation as a blessing and go buy the dip. After all this news, surely bitcoin will bounce back like it always does. Don't let the negative news affect your judgment because I'm certain they are doing this for a reason. They won't totally ban crypto because the government itself possesses so many coins itself.

[ipanks]

I do not think much about that ban as I do not think China is really serious about banning crypto. From your report, China is in second place in holding bitcoin, so China uses the chance from their negative news to buy bitcoin at a low price. They really know how to spread the FUD and how to use it for their benefit. You should not worry about their negative news and use it for your benefit. Follow them to buy more bitcoin.

[passwordnow]

Do I have to worry? NO.
Do we have to take it seriously? Maybe or not really.
These China news should just be ignored. We cannot stop them giving that yearly ban, there's nothing special on it and it had became a mover of the market and that's what I think when they announce it.

[bitterguy28]

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?

to tell you the truth? i care nothing from this banning because for years i have been hearing this about china banning bitcoin same as India and other countries that still has against policy towards bitcoin.

why do i need to care when i can do nothing but to accept it and move on?

focus in my investment as the market will still continue to move up and down even without these countries support?

[YOSHIE]

What do you think about this?

There is no thought or action taken by us about banning crypto in china, that's their business, it's up to China what they want to do with crypto, the bottom line: my country is safe and fine for crypto users, what does it matter with china, over time they will get tired of banning it.

OP, I've seen crypto vs China very often, actually it's all bullshit, as long as you're not a Chinese citizen and don't live in China what do you care, China doesn't use their crypto that is losing money, they know crypto makes the biggest asset for them, so it doesn't matter to me about that.

You know, China is hit by a disaster in this year 2021, floods and typhoons hit, their buildings and infrastructure are destroyed, they want to rise from the destruction and the economy, The fastest and best effective way to boost their economy is Bitcoin/crypto, so relax, there's something going on behind it all, there's a shrimp behind a rock, the saying goes.