Bloomberg and the Wall Street Journal have both published an article today on China possibly halting trading on the main Bitcoin exchanges in the country. Both articles declare that there is no official word from the People Bank of China or any other government organization on the ban. This seems like coordinated FUD (Fear, Uncertainty and Doubt) to me. There is no official statement, but only a few Chinese news sites spreading fake news in my opinion. Perhaps they are managed by people who sold their Bitcoins for about $5000 each and now want to buy back their coins for a lower price. We'll see how this turns out...
China’s central bank said it couldn’t immediately comment.
https://www.bloomberg.com/news/articles/2017-09-11/china-is-said-to-ban-bitcoin-exchanges-while-allowing-otc-trades-j7fofh20
The People’s Bank of China didn’t respond to a request for comment. A Huobi spokeswoman declined to comment beyond the firm’s press release. Another domestic exchange, OKCoin, didn’t respond to request for comment.
https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862
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Latest Crypto News - September 11, 2017
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I agree with you @penguinpablo will see what will happen next! I wish to have the magical sphere!
Great article and very valid points. I actually had a discussion with an colleague about this very thing. There's a lot of misdirection and uncertainty when it comes to crypto and China and some reading between the lines is necessary. This will be worth paying close attention to going forward.
Thank you again for your data, highly appreciated. As long as China does not shut down mining, they are want to get every BTC they can get, including the gazillion forks that have been doubling the 21M coins every fork. They know very well with which instruments they can manipulate the whole world. Well... hows about coins that display their location of origin, BTC-China and BTC-Iceland. Careful, BTC-China has a huge carbon footprint and dead fish in the river...
good content....upvoted and resteemed :)
hi penguinpablo, i can't understand why china baned the BTC as he has a biggest mining market.
As opposed to what "Libertarian" / "Anarchist" / "Capitalistic" anti American media wants you to believe, China, Russia (about cryptos they are a good exception lately) , South Africa are less free, less just, less "libertarian" than the US.
They want "their people" enslaved more than the FOMC want their subjugates enslaved.
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China should just try to outright ban Bitcoin already so that everyone can see how little it will effect the upward trajectory (and, frankly, Chinese user adoption.)
Great post @penguinpablo
Great Information >>>>>>>>>>>Thanks For Sharing
@penguinpablo, The fake news about China's ban on Bitcoin is a very good news. Also, you've put together some very interesting and informational articles in one post that made it 'gem of a post'. Thank You!
With every passing day, we're heading towards decentralized world. I'm thrilled.
China has the biggest mining in bitcoin by what I understand, why would they now ban a profitable product?
Too many smoke screens, I do not believe those who have out-layed capital to venture into mining will cast it aside without questioning.
Well planted FUD
But soon the truth would be out.
I have even read that the ICO ban by China is only temporary
Really interesting, thanks for posting!
helpful post
The EU only invested 5 million euros? That's tiny compared to the billions invested in the market. They need to invest more!
I like it.
Thank you for all the info.
I hope you are at least 99.3% joking about the PBOC being run by people who care about Bitcoin valuations assuming they ever had any.
Appreciate your good efforts to collecting data and present in helpful information, Thanks for update. Upvoted @penguinpablo Following.
China knows very well how to manipulate the things.
China knows very well how to manipulate the things.
@penguinpablo Interesting Tale. Hope you can get what you would like from this challenge. Have got a awesome working day..
Good post
@penguinpablo A pleasant put up..I am exciting..