Looks like Bitcoin is over guys... China has banned Bitcoin (again)!
Ehh, Hello Internet! This is the People Bank Of China. WE BAN BITCOIN!
Here are two sources (in Chinese):
http://finance.caixin.com/2017-09-08/101142797.html
(Link to Google Translate in English)https://mp.weixin.qq.com/s/2YfePTC0sGsFjHvf-HUqqA
(Link to Google Translate in English)
Zerohedge.com (in English)
Bitcoin is going down on massive volume
Other cryptocurrencies are also going down...
Buy the dip? ...For sure! China also banned Bitcoin in 2014, 2015 and 2016. Unless you think "this time is different," which it never has been, buy the dip. It may go down a lot more in the coming hours or days. You never know what the bottom will be, but I don't believe this FUD.
China is not going to ban Bitcoin. It's just a rumor that some Chinese sprout whenever they want some cheap coins. They have done it multiple times in last few years.
Bloomberg China tech reporter Lulu Yilun Chen tweeted:
"Okcoin and Huobi PRs said they haven't received such notices and are still in operation as of now."
Cheap coins going into the weekend. Have a good one! :)
Bitcoin is antifragile, so the more it is stressed the stronger it gets. When are the government going to get this:)?
Yeah it is indeed always the same, but it is interesting to see that it always works. Nothing is official, but still prices going down. I hope we will have a much more robust market in the future which is not that dependent to China.
I don't remember having Chinese Sprouts!
I am not a fan of Chinese food but doesn't mean I don't eat Chinese dish at all. I make the recipe from scratch! lol
Where can we get reliable info really? How do we even know that what we are reading is a fact and not fake sprouts.... I think we all have to be responsible with the information we share to others, even the media is no longer a reliable source of information! So sad but it's the reality!
Welcome to the mad planet called Earth, where mad people exists! lol
Sigh... it's always
C H I N A
It's always the same China 🇨🇳 is coughing and the investors are in panic. Really boring :-(
Not if you can buy those dips though right?
Not everyone is a trader. We are currently seeing a lot of newcomers in the space who just want to hold their investment. They will get burned with this weird FUD. I know, I know maybe they need to learn that crypto is wild wild west, but I am waiting for a time where something stupid like that will not happen.
I'm winning too, but it's always the same thing and not very intellectual:-(
well .. let's see how it turns out.
In my opinion, if China prohibits bitcoin, it has deprived itself of a great global opportunity.
Yes, they would shoot in their own foot also because most of the mining companies are based in China. Good point.
Thank you my dear friend for your comment.
they have done more than once this year.. starting at the beginning of the year once btc was 800 dollars.. reached 1.150 then dropped till 700 then up to 2k
Im sure there is some planned background political motive behind it .
This for sure. Those things are planned and a few people are making a lot of money with it. Very interesting to see.
Bitcoin exchanges are never be banned dont worry. Now the price of btc down lets buy some coins ;)
I think they will only ban exchanges who are trading ICO-tokens. China never touched Exchanges who are trading Ether,Bitcoin and so on.
China?
I wish I had some 'dry powder' to buy some right now on the dip. Glad you're back from the islands!
Well, panic is used as a weapon here. It has been used before and it will be used again! Spreading panic concerning terrorism, market crashes etc. is a way to control the behaviour. It isnt just about "buy during the dip" its much bigger than that!
People should learn to control panic and not fall victim to rumors that are being spread...
I have written a little something about it here:
https://steemit.com/cryptocurrency/@kapetanic/altcoins-bloody-morning-the-world-is-going-to-end
...so check it out if you are interested. ;-)
In a meantime,
upvoted with 100%! ;-)
Steem on!
yup. typical panic sell.
thank you for information and opinions. China want to expand their power in the field of cryptocurrency world step by step..
The internal exchange between the entire virtual currency and RMBs in Bitcoin, the Ethernet area as the representative of the whole term is closed, but not to regulate the virtual currency itself, there is no prohibition of virtual currency one OTC.
The regulators decided to close the exchange of virtual currency in China, which includes the exchange between all "OKcoin", "Fire currency net" and "Bitcoin China" and another virtual currency with legal tender presented. Figure / Vision China
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[Financial New Network] (reporter Peng Kin Kin-Uu Yujian) regulators decided to close in the Chinese virtual currency exchange, which includes among all the "OKcoin", "Foreign exchange currency" and "Bitcoin China" and other virtual currencies with a legitimate payment By means of the stock exchange, new financial reporters are approaching the Internet of financial rectification risks, the work of the group's leading office (hereinafter referred to as the lead group), which confirmed this news, and learned that the permit is currently deployed to the field.
September 8, the third party trading platform, the network of cross-country issued a statement in accordance with the spirit and requirements of September 8 in Beijing financial conference work on September 5, from the day 17.30 to suspend trading in all currencies.
This is still a regulatory action after the People's Bank and the other seven ministries, together after September 4, jointly notice (further notice). The above statement by ICO (initial coin placement, initial public sale of coins) as an "illegal financial activity" and ordering since the announcement, ICO ban on new projects, projects to limit the stock of repayment. All ICO tokens trading platform must clean the deal.
The purpose of the regulation is not limited to now more than 60 ICO tokens trading platform, we will not participate in a number of trading platform home ICO virtual currencies are included in the purification volume critical to the completion time.
"In other words, the future can not have a so-called trading platform between virtual currency and legal tender in China." The closer to the leading group said: "Thus, there are no so-called markers, virtual currency, and there may be twenty or two problems between the PQM can not be sold. "
Regulatory research of virtual currencies of trading platforms did not suddenly strike, but at the beginning of the research was at the beginning of the year. Currently, the management team has made this decision and careful measures.
The central seven ministries in the announcement jointly issued on September 4, the signal was issued for this: The third announcement "Strengthening Financial Trading Manager token trading platform," noted that since the notification, any so-called financial transaction markers platform should not engage in legal tender and lexemes, in the "virtual currency" traffic exchange among themselves, can not be sold or used as a central counterparty of trade tokens or "virtual currency" should not provide For information about the prices of intermediaries as a token or a "virtual currency" and other services.
It should be noted that this decision to close the trading platform between the virtual currency with legal tender, which only prohibits the floor to trade virtual currency in China, and does not prohibit all virtual currencies with legal tender in the territory of China's trade. "In order to close the exchange Bitcoin no. For Bitcoin »the leading group that stressed the previous closure, suppression and Bitcoin-related activities related does not affect the development of the block chain technology.
In accordance with the position close to the leading group of sources, in terms of risk prevention, so that virtual currency and legal tender from the sex trade activities from China, the main market risks, financial risks and social risks at three levels.
The distorting effect of the secondary market
Since 2013, regulators have felt a great risk for the distorting effects of the secondary virtual currency market. At that time, Bitcoin volume transactions in China, and more than ninety percent of world trade volume, and Bitcoin pushed a record high of 8,000 yuan. PLAY INDIVIDUAL
@penguinpablo Regulators have experienced a huge risk for the troublesome impact of the secondary virtual market. At this time, Bitcoin volume transaction in China and I wish I buy something on some dry powder 'depression. You're back from the island!
ohHHh thanks for this info. I knew it dipped a couple days ago, didn't know that there was a new dip! Time to by for sure! :)
Hi @penguinpablo i can't believe what i am reading in this post that China one of the biggest economies of the world has banned Bitcoin trully there are not serious at all but i think this is not true at all on my side may be the news is not realistic at all and if so they will have to retrieve their ban on Bitcoin because it will interfere with their economy and the economy of the world at large,lastly thank you man for the post.
I have came across an article that says this is all fake news, you can check it here
I don't know what's the truth here, but the drop has already happened :/
What goes up, …
Disclaimer: I am just a bot trying to be helpful.
wow very good..
nice post..
When rivals talk you know, I strongly believe with you that this is a mere rumor.
SAY NO TO FAKE NEWS.
Thanks for the info
Have a lovely time Steeming
was just thinking about buying some bitcoin. honna have to wait and see how low it can go
Don't wait much longer.
Agree with you. I sure as hell will be buying and hodling of course. especially altcoins that are cheap!
Seeing how Chinese authorities are giving cryptocurrencies so much attention without banning it is really quite positive. Probably lots of officials who love trading (and possibly some visionary officials too).
Another China bans, China buys.
My article about that:
https://steemit.com/bitcoin/@johnycrypto/how-can-a-fake-news-crash-a-market-in-seconds-china-getting-cheap-coins-again
Deja vu the market is down "because China"
They must like weekends
Thanks for the post!! Where did you get the beautiful "Top 30 " charts?
Self made :)
I think this drop is temporary.
Market is still so strong. I hope I get a chance to buy Steem and Btc on the low.
Soon the only exchanges to be legal in China wll be those on boats floating just outside the international waters 20 miles limit.
yea same news over and over. Good times for buying. ETH seems to be sticking up for this. BTC sharpest fall. It will catch up again
There is much news denying this information, everyone disbelieve that it was true, the Chinese government is one of the largest investors in cryptones, they can not be against their interests.
This is really annoying, I can believe people panic so easily? Seriously, twice in a week? My god...Thank you for sharing this @penguinpablo, really necessary ;)
This is an opportunity to buy more Bitcoins.
Just about any rumor from amywhere moves the crypto markets...
Upvote and resteem 👍 @penguinpablo
China 🇨🇳 is voting for herself ban and buys 😱🇨🇳🍂🎶👍🏼 Don't panic is a strategy in my opinion 😬
I agree with you, if you look at my penultimate post I expose a similar opinion. They are wretched news, just created to break the market and repurchase at a lower price.
Added some more, they just keep giving.
just this cannot change the whole market... in fact, the drop in price is a fish hook for new investors who see it as an opputunity to buy bitcoins. this will increase demand and volume and in the end increasing the cost of it too :P
Hope people realize this and not just panic :D
This Is Just Their Way Of Manipulating The Market And Getting Cheap Crypto's :)
Information is complicated, but in the end I think that the cryptographic currency including BTC, ICO will be managed in the form managed by the Chinese government.
Yeah my thought exactly. It worries me tho that the world market seems to be responding in this way all the time. China has some serious hash power there and even so would generate some extra billions of cash by srpeading such a rumour. I'll definitely advise everyone to buy the dip and come out stronger too!
The only solution is to BAN CHINA BACK!