Does China exactly ban bitcoin?

[Omikifuse]

Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban.

This is essentially what China has done to bitcoin. It would he nearly impossible to ban bitcoin trade because of TOR and because BTC nodes are coming online and going offline all the time and it would be nearly impossible to keep an up to date list of them all.

Would be possible forbid all bitcoin related business, and make all cryptos passible with immediate confiscation, and make all money made with cryptos illegal money. This is not close to happens in China

[efreeti]

The banning on banks to service exchange can't last long.

Most high end ASIC miners are now being produced in China, If bitcoin does well, this will benefit the country directly.

[l3sny]

keep us posted with the nut bust

Yea China is big in mining. I do not think any ASIC manufacturer can make their chips competitive no matter if it is 20nm or less. China will produce it in older technology and sell it for pennies.

[titulng]

I don't believe it is banned to be honest I believe there are just a lot of restrictions on bitcoins in China. I know a few people myself who are from China who exchange bitcoins, I don't see them being as brave if there was a total ban however I could be wrong.

Pretty sure that there is no ban, but it would ban the shady trade and fake volume for some china exchanges

[xdominating]

just the other man on china who want's to monoply their country.

may be we could be the threat for him..

who knows 

[l3sny]

I am just wondering what exactly is banned in China? Funding exchanges with fiat for sure. Is selling goods for BTC illegal?

[tatu]

I am just wondering what exactly is banned in China? Funding exchanges with fiat for sure. Is selling goods for BTC illegal?

I don't think it is, I just think exchnages are heavily restricted. China has massive mining operations there so it's obviously not banned.

[bounst]

I am just wondering what exactly is banned in China? Funding exchanges with fiat for sure. Is selling goods for BTC illegal?

bitcoin is defined as a commodity by China gov.

[HashFarmer]

China banned everything that related to bitcoin but not bitcoin...

[viboracecata]

At least, in BeiJing and ShangHai, you can buy bitcoin with cash, though it's very inconvenient

[nicojuritz]

There are just restrictions on Fiat but no ban on BitCoin.

[l3sny]

Can I open a webstie in China and sell goods for BTC then? I doubt.

[donguan]

China banned everything that related to bitcoin but not bitcoin...

what does it mean? it is not only problems with exchanges?

[FreedomCoin]

i believe the banning of something bitcoin related in China caused the crash in January of this year.

Alot of chinese were pumping the price of BTC back in Nov-Dec, and then the rug was pulled out from under the Chinese in Jan causing volume to drop and the price to crash.

[Mobius]

Stopping all their banking institution from offering services to bitcoin exchange and broker is essentially same as a "soft" ban.

This is essentially what China has done to bitcoin. It would he nearly impossible to ban bitcoin trade because of TOR and because BTC nodes are coming online and going offline all the time and it would be nearly impossible to keep an up to date list of them all.

Would be possible forbid all bitcoin related business, and make all cryptos passible with immediate confiscation, and make all money made with cryptos illegal money. This is not close to happens in China

No, this would not be possible. It would be much too difficult to police businesses at this level. It would also be too easy to move money around, away from the crypto part of a business.

[keithers]

It has been extremely quiet out of China for quite some time now. They used to be front page crypto news every day a few months back

[frankh13]

At least, in BeiJing and ShangHai, you can buy bitcoin with cash, though it's very inconvenient

All are using exchanges of btc for buying btc with cash. 

[FreedomCoin]

At least, in BeiJing and ShangHai, you can buy bitcoin with cash, though it's very inconvenient

All are using exchanges of btc for buying btc with cash. 

How do they do that?

[Bitbirdhunt]

if it is not, why many exchanges, btchina okcion, had continued to trade in china, and ready to trade in the world.

if it is, why he, Thomas Xie, LakeBTC CEO say “A Ban Should Target Risky Products and Foul Players, Not Bitcoin Itself”?

CT: Given China’s restrictive stance on cryptocurrencies, have you faced any pressure from the authorities? Has the ban on third party processors affected your operations?

TX: Not at all. The latest official policy was published on December 5 by the five central government agencies including PBOC (People's Bank of China). It's clearly stated that Bitcoin is a type of commodity that people are free to own, buy, and sell. Other than that, everything else is speculation, hearsay or rumors. We are running a legitimate business with all required government paperwork.

That being said, there are a number of flash crashes and high-risk products provided by certain local Bitcoin exchanges. If there were a ban, it should be targeting those risky products and the foul players, not Bitcoin itself. The exchanges in question promise 0% fee forever and in the mean time are promoting high-risk businesses such as margin, short trading, and P2P lending without proper risk management. For example, there's an LTC flash crash to 1 CNY from 100 CNY in seconds, thanks to shorting trading in a platform.

Also from China, but the view is quite different, how do we judge it? ban or not ban?

I think it's not quite easy to ban bitcoin completely from the country.They might have banned the buying/selling and exchanges of bitcoin throughout their nationality.But I am sure that would't stop the trade either

[DhaniBoy]

Bitcoin is kind cryptocurrency, bitcoin is used for transactions on the Internet such as purchasing goods, or sell something, if china forbids its citizens to use the internet, then it implies that bitcoin was banned from use in china ...
maybe china government may be able to reconsider the ban on the use of the Internet for its citizens, hopefully ...