Cryptocurrencies Market Overview - September 11, 2017
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
China's bitcoin exchanges await clarification, markets subdued for now
China’s largest bitcoin exchanges are awaiting clarification from the government following more media reports that Beijing is planning to ban trading of virtual currencies on domestic exchanges, but markets were largely subdued on Monday.
Read more: reuters.com
Another ICO Conference Cancels in Wake of China Ban
A conference expected to focus on token sales has been cancelled following news that regulators in China have formally outlawed the use case.
Read more: coindesk.com
South Korean Court Declares Bitcoin Confiscation Illegal
After Police seized 216 Bitcoins from an individual that was suspected to be involved in illegal activities with the digital currency, it was ruled by a South Korean court that the seizure was illegitimate.
Read more: cointelegraph.com
MASTer Plan: Better Bitcoin Smart Contracts Could Go Live This Year
The wait for more advanced bitcoin smart contracts might soon be over. Spurred by last month's SegWit activation, bitcoin developers are reviving a plan that would see the world's most popular blockchain retooled with functionality long synonymous with ethereum and its more expressive code executions.
Read more: coindesk.com
WSJ, Bloomberg Latest to Claim Bitcoin Exchange Crackdown in China
Bloomberg and the Wall Street Journal are reporting that China will move to shut down bitcoin exchanges, citing unnamed "informed sources."
Read more: coindesk.com
Russian Finance Minister: 'No Point in Prohibiting' Cryptocurrencies
Russian Finance Minister Anton Siluanov said his department will regulate the use of cryptocurrencies in the country by the end of 2017.
Read more: coindesk.com
China Returns To Bitcoin Platform Localbitcoins As ‘FUD’ Excites Markets
Bitcoin trading platform Localbitcoins has posted new all-time highs as China’s looming trading ban leads traders to seek alternatives. Data from Coin Dance shows a new weekly high for global volumes on Localbitcoins, with $53.4 mln dollars changing hands in the week ending Sept. 9.
Read more: cointelegraph.com
Chiasso, Switzerland Municipality to Allow Citizens to Pay Taxes in Bitcoin
The Swiss municipality of Chiasso has announced that it will accept tax payments in bitcoin from January 2018 onwards. The announcement signifies a further gathering of momentum for Switzerland’s bid to become a global leader in the bitcoin and cryptocurrency industries, with Chiasso seeking to rival Zug’s Crypto Valley as a major global hub for bitcoin adoption and innovation.
Read more: bitcoin.com
Central Banks Love Blockchain And What That Means For Investors And Bitcoin Speculators
Governments are uncertain about Bitcoin as a currency, but Central Banks have made it clear that blockchain technology is a huge opportunity. The empirical truth is that Central Banks love blockchain.
Read more: seekingalpha.com
The EU Has Now Invested Over €5 Million in Blockchain Startups
The European Union has invested more than €5 million (around $6 million) in startups that are working on various projects involving blockchain.
Read more: coindesk.com
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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@penguinpablo A great deal details thanks for sharing. Like it. Resteemed.
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@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.
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