Quote from: avikz on February 26, 2018, 10:27:23 AM

Quote from: jseverson on February 26, 2018, 08:16:11 AM

Quote from: MisterPrada on February 26, 2018, 07:43:18 AM

They have already "banned" bitcoin like 10 times past 4 years without success. This is nothing new, they ban everything that is great about the internet.

They have never banned Bitcoin outright. This seems to be a common misconception. They have banned ICOs, exchanges, P2P exchanges (that served as a loophole for the initial ban), and they're currently sitting the fence on mining. Holding and trading are still fair game, but who knows how long that will last.

Either way, China is no longer the giant it once was in trading volume, and the remaining traders have already learned how to sidestep regulations. An outright ban at this point shouldn't be too crippling in the short term, FUD aside.

Right you are! China has never banned bitcoin outright. Because that can't be possible for them. So they have taken a phased approach. First they banned ICOs because that was a channel of dirty money flowing in to their economy. I have seen a lot of Chinese scammers active in the ICO market prior to China ban so it was a good news for the entire crypto community.

Now China is trying to ban the mining operations because a communist country doesn't believe in people empowerment by sidetracking them. They follow heavily centralized policies. Crypto is one way that can't be properly tracked and taxed because of its pseudo anonymous nature. So the Chinese government are not getting the proper revenue from these crypto related market. So they are trying to curb it down.

But China is not anymore the superpower of crypto market. If China ban all crypto related activities outright, the market will react for a short span. But I don't think any big impact will be seen for China's exit. Also the Chinese government knows that it is impossible to control the entire crypto market in China. So those who want to use it, they will continue using it. Absolute ban can't be achieved practically.

Complete ban on crypto may not possible but in that scenario only tech freaks or Big traders can surpass the regulation and trade crypto currency without getting into the eyes of govt. the percentage of such people who can endure such risk are very less in no. BAN from a very strong economic country like china will definitely create a environment of panic in whole crypto market.