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[ElPaule]

Reuters: China bans institutions from Crypto business. What will be the global impact? Some of the front runners in crypto are chinese organisations, look at you Binance! What will be the impact for all the mining market? Is this globally a chance or a thread? Is this a causality for the lates dips in crypto? What do you think?

 

[Niftyicon]

Honestly, the situation with China is making it less clear what is going on in the markets. I also think it is contributing to all the struggles the coin is facing in the past month.

 

[ElPaule]

Honestly, the situation with China is making it less clear what is going on in the markets. I also think it is contributing to all the struggles the coin is facing in the past month.

currently i am still not worry and have an focus on crypto. There are many big institutions standing behind the idea, few countries became more open to crypto and there are many more indicator that pointing to a broader acceptance.

When China implemented the great firewall, or started their disputes against facebook or google, the internet boomed without interruption. Or :) an slighly older example, when the US and the western world sanctioned Cuba, the rum production and trade did not decline. So others need to see this as a chance to step in and fill the gap, and Chinese crypto comp will go to other countries or focus on the left overs of the Chinese market.

 

[Wisdom01]

It later caused a dip in crypto currency , what i really hope is that there could be a change of government that would welcome and promote the use of crypto currency

 

[Niftyicon]

currently i am still not worry and have an focus on crypto. There are many big institutions standing behind the idea, few countries became more open to crypto and there are many more indicator that pointing to a broader acceptance.

When China implemented the great firewall, or started their disputes against facebook or google, the internet boomed without interruption. Or :) an slighly older example, when the US and the western world sanctioned Cuba, the rum production and trade did not decline. So others need to see this as a chance to step in and fill the gap, and Chinese crypto comp will go to other countries or focus on the left overs of the Chinese market.

Well, you are so right about that. Many institutions already bought into bitcoin and many are still doing the same. It wouldn't collapse just because of a selected few out of the numerous who are backing the coin.

 

[Brain]

Some countries like China are really struggling with their financial stance. They will need to seek the advice of professionals if need be to help with their financial markets

 

[Wisdom01]

Well, you are so right about that. Many institutions already bought into bitcoin and many are still doing the same. It wouldn't collapse just because of a selected few out of the numerous who are backing the coin.

If those selected few have more influence it would surely affect bitcoin on a negative side ,just like the case of elon musk and the China ban

 

[Brain]

Honestly, the situation with China is making it less clear what is going on in the markets. I also think it is contributing to all the struggles the coin is facing in the past month.

Yeah I want to believe it is contributing to all the challenge the crypto world in general are actually facing. This seems a huge threat to the crypto currency. The coin might find it hard to rise

 

[Wisdom01]

Yeah I want to believe it is contributing to all the challenge the crypto world in general are actually facing. This seems a huge threat to the crypto currency. The coin might find it hard to rise

Then when it was first banned the coin was finding it very difficult to rise , but it seems the effect of the ban is not what is driving the market again

 

[Razor1911]

Then when it was first banned the coin was finding it very difficult to rise , but it seems the effect of the ban is not what is driving the market again

Actually the investors are now much more aware of the consequences. These are normal news that are coming on daily basis, this kind of bans are temporary and now a days have little to no effect to the market.

 

[Wisdom01]

Actually the investors are now much more aware of the consequences. These are normal news that are coming on daily basis, this kind of bans are temporary and now a days have little to no effect to the market.

Most investors don't trade when ever they see a news that might likely effect the market , they might just wait because they know that correction would be made and everything is temporal , these is same technique i use too

 

[microunit]

Well with the banning of cryptocurrencies in their country its quite obvious that they will also ban company transactions with cryptocurrencies

 

[Josemendez]

The rate at which China is going with the ban , I hope that it will not backfire on them later on. They are taking decisions without checking he effect on the citizens

 

[Wisdom01]

Well with the banning of cryptocurrencies in their country its quite obvious that they will also ban company transactions with cryptocurrencies

Am sure they are certainly making the move of banning anything that relates to crypto currency , and want to make sure that no adoption is been recognized again , so they can fully introduce their digital currency

 

[microunit]

Am sure they are certainly making the move of banning anything that relates to crypto currency , and want to make sure that no adoption is been recognized again , so they can fully introduce their digital currency

True I can agree tot hat, we all know how china runs things, They want almost everything to be owned by them even in the digital world they are doing that also

 

[Wisdom01]

The rate at which China is going with the ban , I hope that it will not backfire on them later on. They are taking decisions without checking he effect on the citizens

The time it would back fire is if the revenue they expected from the digital currency yuan is very less compared to what crypto is fetching them , it night be too late for them to start making correction

 

[Josemendez]

The time it would back fire is if the revenue they expected from the digital currency yuan is very less compared to what crypto is fetching them , it night be too late for them to start making correction

Not just that . Some of the Chinese may decide to relocate to a more cryptocurrency friendly country and also their digital Yuan may not be accepted for international trade

 

[Wisdom01]

Not just that . Some of the Chinese may decide to relocate to a more cryptocurrency friendly country and also their digital Yuan may not be accepted for international trade

A lot are even relocating already most especially the miners since they can't withstand the government policies , and also their digital yuan might be rejected by some countries that don't like their crypto ban move

 

[BullyMaguire]

It's clear that they don't want any competition for their yuan digital currency which they're making. Bad for people good for the government

 

[Razor1911]

It's clear that they don't want any competition for their yuan digital currency which they're making. Bad for people good for the government

Actually they are doing correct for their own economy. We might think that it is not good for bitcoin, but for them the value of yuan is much more important than Bitcoin.