Re: China banning bitcoin exchages, good or bad?

Quote from: lordquanta on September 11, 2017, 10:51:21 AM

Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China.
Do you think this would affect bitcoin world and bitcoin price in negative way or positive way? Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.

[1] http://www.marketwatch.com/story/bye-bitcoin-china-to-ban-trading-of-virtual-currencies-2017-09-11

I think it is still bad, losing China. China banned exchanges and ICO, from that, it resulted to major market downfall. Bitcoin's value before is downed to 3500 from 4500. It managed to recover and even passed its value before. But I think it will still be a help if China is around since it is one of the major investors so it would still contribute on the increase of Bitcoin's market value.