Bitcoin Forum

The recent acquisition of the Chinese company BTCC, one of the three largest Bitcoin exchange operators in the country, by a blockchain investment fund in Hong Kong is the latest example that confirms the Chinese authorities' willingness to put an end to the business of cryptocurrencies. After the purchase, the company will focus exclusively on the international market and abandon its business of exchanging virtual currencies in mainland China, where the Government continues its efforts to put an end to this business. China has so far been the leading location for the cryptocurrency exchange business and hosts the world's largest community of Bitcoin "miners", computers that update and approve bitcoin transactions through blocks that are linked to a chain of data. According to estimates of January of the British consultant Capital Economics, until recently, 70% of the Bitcoin mining in the world was done in the Asian giant. "Most of the Bitcoin trading was done in renminbi (the Chinese currency, also called yuan) until the government began to prevent it, now the proportion of mining that takes place in China has fallen to 50% and currencies which are used are the dollar, the euro, the yen and the South Korean won, "the firm says.

What do you think??

this decline in kryptomedes is only passed by developed countries that have spent all of their virtual currency for the progress of bitcoin like chinese who holds the peak of its krypto trade. That is why the decline is going on whether to next american dollar can hold bitcoin trading center ..