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RE: Breaking: China To Shutter All Bitcoin Exchanges - An Interview with Simon Dixon of Bank To The Future
Any thoughts on how this will affect bitcoin and altcoin prices in the months and years to come?
@protoken This will greatly affect trading platforms because there will be a Transfer of Supply. You will notice this in some exchanges wherein new coins listed are from the Chinese Markets and cryptoinvestors are switching platform and taking precautionary measures. A demonstration of decentralization is in play. Surely, China wants to know how the market adapts and learns from it. I think years to come, China will wholeheartedly accept these Exchanges again because banning it won't stop Bitcoin and Altcoin's success.
This will be positive for the long term of BTC & LTC. This is not the first time China has banned exchanges. It did in Dec of 2013 and when they reopened it shot up, color me surprised if they do the same thing again. I noticed none of the mining farms have been asked to close. CryptoCowboyRocks
I read somewhere else that the ban is likely just a temporary thing, the same as you're saying. Maybe it's just a show of power, without real long term policies backing it.
Its the gov't flexing until they can figure out what to do, they know it can't be stopped just need to do their best to "shut it down" until they figure out how to regulate and or get their share. Which the may for a little while.
Especially in the cryptos world, the users have plenty of technical knowledge to work around most governmental obstacles. For certain countries, this is definitely a good thing.
My belief is, this just makes it more robust. Fast growth is not healthy growth; slow growth creates stability and longevity.
I agree. A slow, steady growth is sustainable growth.