why we shouldn't pay attention to the regulation in China at least for now the rapid expansion of Bitcoin price and mainstream adoption through the latter part of last year was seemingly matched by an increase in scrutiny and reflection by government regulators in early 2018 it has turned into a battle for some a lesson in learning for others and it chance to embrace for the ring a chance to embrace for the remainder of different nations approach crypto currencies and their associated facets such as icos and blockchain technology differently many countries are still sitting on the fence waiting to see how cryptocurrencies and particularly blockchain can be utilized and implemented within their laws and regulations while some most notably China have forged ahead with a harsh and hardline approach it hasn't really done anything though China has moved towards squashing crypto currencies in three stages first abandon icos than exchanges and finally blocking crip foreign and cryptocurrency sites from its citizens with a massive a firewall to try to nail the coffin shut however the successes of outright bans and hardline regulation should really be questioned as Ronnie mo as famed stock picker who has become somewhat of a chain being for cryptocurrencies says that the fear and damage regulation does to the strength and price of Bitcoin is only noise I would agree moe as sporting an eye patch due to a diagnosis of Bell's palsy its revo and condition that causes temporary weakness or paralysis of the muscles in the face spoked why are we talking about that why do we got to talk about his eye patch he's basing a crypto pirate you should just say moe as a crypto pirate spoke to coin Telegraph effect hardline regulation will have on cryptocurrency he says quoted I don't pay too much attention to these regulations it's only noise as far as I'm concerned unless China Russia and us and South Korea come out with some explosive a joint a statement on the same day I wouldn't pay too much attention to this Bitcoin is not going anywhere noise said defiantly there is a mind-boggling demand and supply imbalance and I expect it will drive the price to 50 or even $100,000 over the next few years regulation or no regulation it recommends not to over price the value of China market quote and that and this could let's see if what this Court's all about guys I hope he says something good here if China bans Bitcoin 190 countries around the world are more than happy to buy whatever they are selling if China dumps Bitcoin on the market it goes on sale and people scoop it up in a fire sale and I'm not worried about that looking at what happened two weeks ago something caused Bitcoin to drop sixth out to $6,000 and look where it is now over eleven eighty percent in two weeks you just have to disregard all the noise don't well said my friend mr. crypto pirate mo as indeed Bitcoin is shown on a number of occasions it can bounce back from damaging news including fake news and fun in February there was confusion surrounding a potential trading ban in South Korea we saw bitcoins price slump but has since gotten over that hurdle furthermore there was even misinterpretation of an Indian a budget speech about a Bitcoin ban that the country in that country which affected the price but again Bitcoin showed enough resilience to bounce back however in China there has been hard news emancipating from the haa up high as the Communist Party Congress that Bitcoin will not be tolerated in the People's Republic it's nice to know that Bitcoin would not be tolerated in China people's republic' I wonder if all the billion people over in China actually agree with that however how effective on ground level has the bans and regulations been in my opinion didn't really do anything the most recent move to ban access to foreign Bitcoin sites and exchanges showed a glimpse behind the Iron Curtain on the war that was being waged China was already struggling to lay a killing below by clamping down on Chinese exchanges but it was revealed that is totally losing the war in moas opinion it will be the calmer heads that prevail that's right guys strong hands rational thinking and less emotional decision-making MO as the crypto pirate says there will be regulation but it will be for the French elements in this arena I don't think this will impact the major exchanges I don't think will impact a Bitcoin or ripple or card on Oh interesting you should say neo somewhere in there or icon I think people are making too much out of this I don't care if 90% of the names here are scams a low quality high risk pump-and-dump names because 95% of the market cap is concentrated in the top 20 and that is really all anyone sophisticated and mature would be focusing their attention on well-played ammo as the Bitcoin pirate from the outside on a place like China one does have the question if the government has been successful in eliminating Bitcoin with its hardline regulations Bitcoin price is on the rise the general feeling globally is the cryptocurrency space is a good one and the technology continues to flourish so what happened what's what is happening in China or to be more correct what are Chinese bitcoiners and Bitcoin companies doing among the regulations who be one of the largest cryptocurrency exchanges that was originally founded in China is one Bitcoin company that was definitely affected by the regulations in China but is one that is making alternative arrangements Herbert shim a part of who B's digital marketing team spoke to coin Telegraph about how the company has had to deal with the crackdown who be global main operations are now currently out of Singapore with its other office across the globe across the globe in other major cities such as Hong Kong Korea Japan and more recently in San Francisco he said indicating that they can of course no longer directly operate from mainland China that's too bad mainland China it can no longer take advantage of the tax opportunities that these companies are gonna be raking in it seems not too smart for these regulators to do that cryptocurrency he is quoted as saying it's a completely new industry one that governments from around the world are experimenting and figuring out how to govern it properly with policies in place but as they are in the process of this experimentation is also up to the crypto currency exchanges themselves to first self-regulate essentially Hoopoe has been able to roll with the punches in terms of Chinese government's rules and instead of fighting not to be controlled they are looking to impose their own safety checks and regulations to make them more appetizing to hard-lined regulators Robin zu chief operating officer of who be added we have taken the initiative to launch user security and protection initiatives such as user protection fund and the security reserve and a world first autonomous toking listing exchange had X in increasing our customer service headcount to more than 250 people across multiple time zones and multi-language support so it seems like in this example guys that Chinese regulation on crypto currencies and exchanges have only made these exchanges like who be even better sounds like a win-win to me so it would seem that in the case of hoovy at least the China crackdown has not has not stunted their work as they have pushed beyond the walls of the People's Republic and as sim adds quote our client base has been steadily increasing on an exponential rate how can you steadily increase at an exponential rate it doesn't make sense exponential rates don't steadily increase that would be a linear increase should have said our client base is still increasing on an exponential rate anyway our China user database is still axe accessing as per normal as we are an international global brand regulation is necessary apparently there's no denying that regulation needs to come into the cryptocurrency space it has gotten to the point where too it is too big to ignore and needs to fit in the global society and the rules that are already in place as parameters has the Japanese for example the exchanges in Japan are trying out their own self-regulation I'm really intrigued to see how that works I don't know if outside governmental regulation is necessary so we're gonna have to wait a little bit on this I think regulation is necessary but the question is is who should it come from should it come from outside entities who have no idea about cryptocurrency like government and financial regulators or should come from self-regulation of people who actually understand the impacts of these particular features functions and usage by the consumers I'll let you guys talk about that many countries are excited and keen to what cryptocurrencies can bring but with only a few really trying dis stamp it out but for all those who believe they can eradicate it it would seem that the path is difficult in a foolhardy one Bitcoin is global enough and demand demanded enough that people will either make a way to get at it if they are blocked or those around who aren't blocked will gleefully take up the slack well guys this is an intriguing article I relatively agree with most of what's being said here regulations since ever since I've been in the game really hasn't done a whole lot and stopped a Bitcoin and cryptocurrency at least the expansion people are savvy they want to get in on the cryptocurrency game and they will find ways to do so from who B's example I think it's clear that the regulation made who be a stronger company so maybe regulation is a good thing it helps companies who are legit and are really interested in making money and really interested in increasing cryptocurrency it makes them even stronger and what regulation in many ways could do is get those scammers out of here so let me know in the Bitcoin dot pub or the comment section below your thoughts on China's regulation and regulation of the future I've been through this roads for so many years and I'll tell you my opinion again regulation ain't gonna do shiite know in terms of the expansion it could give us Bitcoin a speed bump of sorts but guys you can't stop the shining you can't stop the shining guys & smash the like button for Bitcoin and a China especially neo you know it is the one right
