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I don't think you can compare gold price and bitcoin price like that.
You can take any amount of gold and compare it to one bitcoin. Some will be over the bitcoin price, and others under it.
The only way of comparing gold and bitcoin would be to compare the value of all the gold that has been mined in the world to the value of all the bitcoins mined until now.
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China will try to ban all the VPN in 2018.
I do not know if that is really possible from a technical point of view, but I think they would not announce it if they had not a realistic plan.
So using a VPN in China might be impossible in the near future.
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Bitcoin and the altcoins do not develope 100% equally.
When you look closer you will see that the alts had a bigger amplitude than bitcoin had. That can be used by the traders to make some extra percent of money.
And then you have to think that this time the whole market of crypto currencies was hit. That does not happen always.
Often you hear good/bad news about just a single coin. Then that one coin behaves completely different than the market.
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This all looks a little bit strange to me.
A CEO playing with the reputation of his whole company just to get a few cheap bitcoins? That is very far fetched if you ask me.
I think I have read somewhere that 'jp morgan securities ltd' changed their name to 'jp morgan securities plc' back in 2012.
Why would they buy under the old name bitcoins?
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I do not think it is a bulltrap because everything is depending on the outcome of the chinese regulation attempts.
If everything goes the way it looks like at the moment we are back on track.
Should the government in China change there point of view and push through harder regulations, we will see a reaction on the market accordingly.
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I think that buying bitcoin is never wrong.
It was not even wrong when we were close to 5K.
But like every other investment, bitcoin needs time to be most profitable.
The big and fast increase of the bitcoin price we have seen made us forget a little that the solid growth needs some time.
I am convinced that we will see other levels of the bitcoin price in the future, way beyond 5K. It just needs some time.
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I think that every exchange that opens outside of China is a step in the right direction.
Hopefully we will not see the same concentration of exchanges in Japan in the future that we saw in China.
It would be good to see at least one bigger exchange on every continent.
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This is only one part of what he said.
The media mainly refer on his statement that in his eyes bitcoin is a fraud.
But he said as well that bitcoin can go up to 100K! In the same interview. That point is mostly missing in the news I read.
I guess bad news just sell better...
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I think the planned regulations we see in China are kind of on the low side of regulations we could expect.
The market was fearing much stricter rules, many thought of a complete shutdown of all exchanges.
From the informations we have at the moment, it will come differently. And according to that the price has reacted.
There is no bulltrap, the price has adjusted to the current state of informations.
Of course, if the regulative rules will change again, we will see another reaction on the market.
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Pesonally I must say that I would welcome regulative actions people can rely on. All this up and down the last week was a result because people did not know what to believe and what to do. When you have a set of rules all the uncertainty would not have started. The volatility is good for the traders, but not for me as a hodler. |
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I think that the combination of gold and bitcoin fits.
Every investment plan needs diversification. Gold is the stable value. Bitcoin offers the possibility to make profit, but it has risks.
Just focusing on one investment makes you completely dependant on the developement of this one product. And not every market always goes up.
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China does not want to close legitimate exchange but only those who does not comply with their standards. I read that these exchanges are closing because they do not have license to operate and does not comply with the requirement of the Chinese government. People mistakenly understood this and think that China is banning Bitcoin. I think they just wanted to clean their country of exchanges that does not follow their strict requirements and possibly prepare a cleaner services for Bitcoin. Probably this is better for the future of bitcoin.
Their main target is to make it difficult for the people to transfer the local fiat into crypto currencies and bring it abroad after that. That is something many chinese people and businesses do. Not only with cryptocurrencies. All together the chinese economy has lost about 2 Trillion dollars during the last five years to people who bring their money out of the country. I suppose that is why the exchanges will be allowed to make crypto to crypto transfers, but the Yuan to crypto transfers must close. |
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China has about 20% of the world population.
They bring a huge amount of money into bitcoin.
And what happens when many of them sell, we have seen this week.
Bitcoin would not be near the price we have without he chinese investments.
But what should happen is that the exchanges and miners spread equally to different countries.
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It is depending of on how long you want to hold it.
If the investment is planed only for a short time, a few months maybe, I think bitcoin is too volatile for that.
But when you have time, and you can sit out corrections, then bitcoin is an opportunity everybody should consider.
Even those who bought recently for nearly 5K, I am sure they will profit greatly from their investment if they have the time and patiente to wait a while.
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China has a market of 1.4 billion people. That is something I do not want to miss in the bitcoin world.
But I would not mind if the big exchanges as well as the miners are distributed more equally over the world.
Too much concentration in one country is never good. Especially when the principle of the currency decentralization is.
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Am I reading it wrong? It only says that exchanges between Yuan and cryptocurrencies will be affected. Everything else can be traded at the exchanges. If the exchange would be shut down completely, bitcoin price would go down. But the price went up! |
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Cryprocurrencies are speculative, that should everybody know when he/she invests.
But I don't think grandma is in danger.
It's not that she would have lost all her money. She still has 83% of it at the moment, if I calculate it right.
That might be a loss, but actually it is not a very big one.
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I read it differently: the Exchanges will close crypto against Yuan trades.
According to the article on coindesk crypto against crypro will be still possible.
That is why bitcoin goes up, not down.
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I don't know why people got panic so easily. People are currently dumping massive coins in the market because of China's action to regulate Bitcoin. What do you think people should do instead of dumping their coins just like that in the market that lead to damage the value of bitcoin?
People dont just dump their bitcoins, it took massive amount of money to make the market decreased almost $1500 dollar in 4 days, i think the bitcoin was just overpriced and the news impact from china just making it worse, perhaps its temporary and i do still believe that bitcoin will gain more strenght this year, but not in a short period. So why would you catch a falling knife? I think its better to re-invest the bitcoin when the price become more stable after the sharp decline, when others are fearful then be greedy  I think that mainly the people in China are afraid that soon they will not be able to sell thier coins anymore. So they throw everything on the market, and take what they can get. That increased supply swashes over into the rest of the world with the consequences we see today. |
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China plans to shut the country’s bitcoin exchanges by the end of September, Chinese financial news outlet Yicai said on Thursday, citing sources.Bitcoin can solve this problem?We are know lot of scam ico in cryptopia currencey world.If China was banning Bitcoin, they would ban the Bitcoin MINERS like Chinas "Bitmain", NOT the exchanges, because the miners are the source.what are thinking about it?
Unfortunatelly at this point we must assume there is more to the story. No exchange closes on its free wiill. There must have been pressure. Going against the miners that is nothing China wants. China wants to stop the capital flight out of the country. And the local fiat is converted into bitcoins at local exchanges, that is why they go against the exchanges. The miners can sell their coins mined in China at foreign exchanges, that would bring money to China. Bringing money into the country, that is very welcome by the government in China. |
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