China Bans Exchanges - Japan Takesover!
To be clear this just means japanese exchanges are doing volume, many people notice that its prolly Chinese people who moved to Japan exchanges with their money.
Current Volume By Currency
Japan still wins with 48,6%, USD the second with also not bad 23,84% (mostly BitFinex) and CNY is still 3rd but with way low - 14,40%. Better than in screen above though. Interesting that Poland with just 2 big exchanges and main one BitBay with also USD/EUR pairs is also in top9.
All Markets
So what this means is theres more volume running JPY exchanges than USD/CNY ones almost together yet top exchange is BitFinex for BTC volumes. I lately wrote how you can lend money there to make some passive income, check here - https://steemit.com/bitcoin/@kingscrown/loan-money-to-traders-for-passive-income-on-bfx-exchange
JPY Exchanges
Seems this are the ones doing volume, keep in mind some of them dont have fees so volumes may be fake.
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china china china is not right
I think China are tired of using bitcoins
China is having 30% of all bitcoins so you can't ignore China.
I dont think we need to worry because it will be a matter of time before China will legalize the exchanges.
I totally agree, bought cheap NEO. I don't think china will ban Crypto, i think they will start to issue licences very soon and the chinese people will be back in buisiness!
And what do you say, that regulation on the China's crypto-currency market led to the fact that in the last 3 days the trade volume of bitcoin has decreased twofold - from 15% to 7%.
Much true.
thats it
Choyna
china philosophy : Chale to Chand Tak, Na Chale To, Shaam Tak (either walks till moon, else only till evening). :P
China is great country
check out how yoou can create your own bitcoin bank an offline wallet and manage your own fund. with no restriction or charges.
https://steemit.com/bitcoin/@walanter/easiest-way-to-create-your-own-bitcoin-bank
I think China will open the Exchanges until the end of the year, they just want to regulate the Exchanges....
No surprise, same thing happened in Feb when they banned withdrawals.
What doesn't kill us makes us stronger ;-p
@g-dubs I totally agree with you. This dip caused by China, JP Morgan and others is another part of the history of bitcoin to learn and take advantage of future dips like this. Money will flow from one country to another, simply were freedom is taking place, and there will always be places with freedom in the world. Now its time for Japan. @gold84
It is China's loss. When they realize that their stock market is going down, they'll come crawling to crypto.
Unfortunately China has a fast growing middle class. China is still a developing country. This would counter all the debt ridden centrally controlled bureaucratic mess. Just look at the stats. China has so much to grow. If they weren't communists, China would have already beaten USSA. It'll take some more time for China to bite the dust.
Why do you think they are getting away with keeping their currency so undervalued?
Because they are exporting and basically have no trade deficit with anyone.
No political pressure to change things.
Why bother to tell China to correct its currency value if that means you have to buy at more expensive prices and internally; why protest against Communist government when import taxes don't affect you because you are buying Chinese products only?
Good point. But they are cheating, no?
Both Dot-com and housing bubble went on for years. This is a muti-trillion dollar economy. If we add the fact that USSA is in decline, China can keep cheating for a decade at least.
@granunic0rn said the same things that I was going to say. I'd also like to add that Tax rates in china is lower than USSA (with the exception of income tax in states that doesn't have a state income tax)
Thanks for your perspective. What is USSA? Thanks for connecting on here. I hope you have a WONDERFUL day!! 😝 😛
Brick and motar stock exchanges will be replaced by blockchain technology. Blockchain has come to stay and even if Bitcoin doesn't live up, something better will replace it in that space.
Just buying us more time to accumulate a low prices! Thanks China :D
agree. =D
Agree :)
@g-dubs : I'm agree
scotch and yes
@thank you g-dubs
agree
you are right @g-dubs
I totally agree with that.
live crypto chat
https://cryptolegion.io
Chat looks too new. Good idea but it is better to make society on Telegram
Honestly. I've made profit from this so :P
I do not know if it is so easy to move CNY to Yen that quickly especially in the crypto space. I do not believe China is doing the pushing in Japan.
Doesn't sound right to me either. Especially now.
Yo ,
Thanks for sharing
chk this out
https://steemit.com/bitcoin/@rally88/ann-pettifor-explains-why-bitcoin-isn-t-money-what-can-you-say-about-this
sure
In the next few days this expected to increase. China Will probably take the ban Out in the near future
Hope they'd change their mind on 31 October closures
Government crashes the price so they can buy up to sell higher at a later date.
You may be right.
Once the price has been driven down low enough, and the governments get in at a price they feel isn't "ripping them off", the prices will skyrocket ;)
Exactly.
Impossible
agree with you
hope so
Any news regarding ICOs? japan taking that over too?
True
I think this ban is temporary. They will make stricter rules and regulations to control the possible outflow of money and exert controls of things, then provide licenses to conformist exchanges. In the meantime, freer market like Korea, Japan will take some market share.
It's good for Korea and Japan and very big financial Chines mistake
If they don't want crypto in their backyard let's others make money on it somewhere else.
They will likely either lift the exchange ban, otherwise they will regret giving way this commerce to their biggest regional rival.