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[magnus2022]

When Chinese government ban crypto mining and all related activities, bitcoin slumped overnight. Not only bitcoin suffer the effect, other coins also suffer serious loss of value. Crypto enthusiasts and investors lose billions of dollars due that effect. Now, cryptocurrency has survived the effect and a lot of people have regain their trust on crypto. Not only individuals and organizations but countries. A lot of countries are giving assurances that they will not ban cryptocurrency but will regulate. That is a good sign that cryptocurrency is the currency of the future.
As it stands, it seems China have shot herself on the foot. There is possibility that the government is regretting their action and may be planning to reverse the ban. Now, my question is do you see the possibility of Chinese government reversing the ban? What is your take on this?

 

[John316]

I don't see China reversing their ban anytime soon. They have made it clear they want strict control over financial systems and cryptocurrency falls outside of that control. It would take a significant change in their government's attitudes towards monetary policy for them to allow cryptocurrency trading again.

 

[Medo24]

Anything can happen because China values being in control of the game and their cold war with US when Trump worsened issues around crypto currencies back then but hopefully they may consider uplifting the ban.

 

[IB DD]

I don't see the Chinese government lifting the ban on crypto anytime soon. The Chinese government was structured in a way that government tends to control everything. And anything like crypto that takes that power of control from a Chinese government is never allowed to thrive which unfortunately, crypto would make the government not to be in control of how money leaves the country.

 

[Medo24]

The government made lightly list the band if they are convinced that more revenue will be generated from mining activities in the country and they can also use population advantage to have dominance in the Crypto ecosystem.

 

[IB DD]

The government made lightly list the band if they are convinced that more revenue will be generated from mining activities in the country and they can also use population advantage to have dominance in the Crypto ecosystem.

The mining activities is even a concern to the government given that it has huge impacts on the energy generated in the country and might seem to drag energy consumption from other manufacturing activities. But I believe that the government would lift the ban as crypto becomes more accepted globally. It won't want to be the only backwards country.

 

[Wisdom01]

The near future is the problem , I think based on my observation with the way things are going , they would actually keep that ban , they seems to not be ready to adopt cryptocurrency as usual , that's what I noticed

 

[EBUBEJAH]

When Chinese government ban crypto mining and all related activities, bitcoin slumped overnight. Not only bitcoin suffer the effect, other coins also suffer serious loss of value. Crypto enthusiasts and investors lose billions of dollars due that effect. Now, cryptocurrency has survived the effect and a lot of people have regain their trust on crypto. Not only individuals and organizations but countries. A lot of countries are giving assurances that they will not ban cryptocurrency but will regulate. That is a good sign that cryptocurrency is the currency of the future.
As it stands, it seems China have shot herself on the foot. There is possibility that the government is regretting their action and may be planning to reverse the ban. Now, my question is do you see the possibility of Chinese government reversing the ban? What is your take on this?

Hopefully, from the look of things,the Chinese government will have no other option than to reverse the ban, because pretty soon they would realise the relevance and importance of cryptocurrency, because it will be a very great force to reckon with.

 

[Crystal247]

I don't understand why the government always try to play with the crypto world. And don't why they ban crypto every now and then. I think most of the country's banks are afraid and jealous about crypto. In my opinion, China may reverse thr ban over crypto soon. Every country should find some other way rather than banning crypto!

Sure, baning of cryptocurrency has effect on investors view of cryptocurrency. Many countries are regulating their policies in favor of cryptocurrency, I think maybe on the future time, China may reverse the baning.

 

[Crystal247]

The near future is the problem , I think based on my observation with the way things are going , they would actually keep that ban , they seems to not be ready to adopt cryptocurrency as usual , that's what I noticed

Even with the baning I believe a lot of people from china are still investing on cryptocurrency, because it's a decentralized ecosystem. Cryptocurrency can still work with the use of P2P.

 

[Wisdom01]

Even with the baning I believe a lot of people from china are still investing on cryptocurrency, because it's a decentralized ecosystem. Cryptocurrency can still work with the use of P2P.

Yes peer to peer option is actually one concept of trading crypto , there are some people that actually exchanged their asset despite the ban , some people don't really see the effect of the ban that much

 

[Crystal247]

Yes peer to peer option is actually one concept of trading crypto , there are some people that actually exchanged their asset despite the ban , some people don't really see the effect of the ban that much

That's why it would be hard to banned the use of cryptocurrency totally. even in Nigeria we're, I don't feel the effects of baning because am still working on cryptocurrency via peer to peer transaction.

 

[Wisdom01]

That's why it would be hard to banned the use of cryptocurrency totally. even in Nigeria we're, I don't feel the effects of baning because am still working on cryptocurrency via peer to peer transaction.

The peer to peer trading options are available on cryptocurrency trading , some people are running this option , they particularly trades different kind of cryptocurrency assets and in turn they earn something in return

 

[Crystal247]

The peer to peer trading options are available on cryptocurrency trading , some people are running this option , they particularly trades different kind of cryptocurrency assets and in turn they earn something in return

Yes. That's exactly what makes me says no matter the government restrictions of cryptocurrency, it's not going to stop Blockchain ecosystem from running. It can only reduce the level of investors.