SHANGHAI (Reuters) - China’s central bank on Monday warned that rejecting cash as a form of payment was illegal, saying that such practices could eventually could cause the loss of confidence in physical money and was unfair to those not accustomed to electronic payments. Its comments, made in a post on its official WeChat account, come as electronic payments via Alibaba Group’s Alipay or Tencent Holdings’s WeChat have become increasingly popular in China where they are accepted on platforms such as public transport and at retailers like coffee shops. The ease of use has meant that some vendors, especially in major cities like Beijing and Shanghai, have stopped accepting physical cash. “Electronic payments has given us a new way to pay, but it must not replace cash payments,” the People’s Bank of China said. “Over time, the practice can become second nature and people could lose confidence in cash.
It added that it was particularly unfair to the elderly and people who lived in underdeveloped parts of the country who would have difficulty in mastering the processes needed for electronic payment.The central bank also pointed out that some local authorities were promoting their technology advancements with taglines like “cashless city”, but said that this should not mean that they no longer accepted money. https://www.reuters.com/article/us-china-payment/china-says-rejecting-physical-cash-is-illegal-amid-e-payments-popularity-idUSKBN1O902F.... This is genuinely batshit stuff, if they think cash and electronic payments are different. I guess they think cryptocurrency is not real either! |
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Such a big movement and there are no volumes of large ....What can it say?
There are almost no sellers on the market.It remains to collect the crumbs.
It's a big movement because the volumes are small.... If volumes are large (if the market itself was large), it would take a lot of coins and a lot of money to move it. |
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It does, whether we like it or not, these institutions flawed as they may be are an architecture that has stood the test of time, providing goods and services to support and manage the population. To allow them to witness a better methodology can be a game changer, upon them upgrading their networks; We The People will stand to Gain from this Epoch Making change.
but it is too early, the methods and techniques are yet to be perfected, it will take time before the whole network is working properly to work as a Showcase.
This. People basically trust banks (still!) more than they trust crypto. So we actually need banking to embrace crypto for it to take off. |
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Question is who really was behind tether printing and driving prices
Why regulators are watching that now and why we have that old news now
Will be not that kind pump dump without illegal trading
But who knows the best how to use all trading illegal practice
Those who already were doing that on for example gold or forex
Professional traders
I am sure that space for Circle new stable coin banking coin has to be done
Only banks can fraud markets in legal way
It's not "old news". I expect someone complained that the prices were manipulated (especially as they are used to settle futures on the CME) and once they had enough complaints they were obliged to open an investigation. |
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Why game over? Btc price in 2016 was just $500-600
This. And don't forget the horrible bear market from 2014 to 2016. That was truly painful, this is nothing in comparison. I do think the fee problem last Dec and the delays in stuff getting confirmed damaged bitcoin. But lots of exchanges have got their act together since then, batching transactions and using the lightning network and so on. Bitcoin just needs to work on adoption instead of being merely used for speculation. |
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The German holding company Bitcoin Group SE acquired a 100% stake in the investment Bank Tremel Wertpapierhandelsbank GmbH. This was reported in a press release.Bitcoin Group SE is the operator of the country's only regulated bitcoin exchange Deutschland AG, also known as Bitcoin.de ahhh! According to the information on the website, Tremel specializes in securities trading. In turn, Bitcoin group SE intends to expand the list of services thanks to the license of the Bank acquired by It. In addition, the company intends to install bitcoin ATMs in Germany. Managing Director of the Bank Rainer Bergman will continue to lead Tremel. Also, together with the team of Bitcoin group SE, he will develop custodial solutions. source forklog.comGermany seems to be quite far in adoption and market cycle, acquiring a bank to obtain a license is a brave move, unusual for cryptocurrency industry. I hope it will also pave the way for cryptocurrency securitization in Europe. It's a brave move, but it's the only way bitcoin will enter the mainstream, via a marriage of crypto and banking. |
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According to CNBC, federal prosecutors had launched a criminal probe into the cryptocurrencies earlier this year based on suspicions that their price was being manipulated. I think it might be the main reason behind the price of bitcoin dropping to around $4000, but I also wonder whether it could be that authorities are afraid that Bitcoin and other cryptocurrencies are taking over the financial system since they're now so popular.
Institutional investors tend to sell when they hear news of potential criminal action. Just be grateful that none of those ETFs were approved - we'd have had a tsunami of retail selling as well! |
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In my understanding, I think the current bear market situation is most likely being manipulated by whale investors which cause the crypto market to dive low. I believe that the best strategy for now is to hold your cryptos and just need to extend your patience. Other than that, if you still believe that cryptos will spike again, I would suggest that this could be the right time in buying more at a lower price.
My take is different. A lot of hedge funds got into bitcoin towards the end of last year. But now that the stock markets are falling (tech stocks are in a bear market), they're trying to liquidate stuff to raise cash for investors who want to cash out of the fund. |
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Bitcoins is trading below 4500 USD and the whole market seems to be going down too.
Remember that "whole market" includes the stock market as well, which is also down. My take: there have been a lot of margin calls for traders in the Dow and NASDAQ and they sold their bitcoin to realise cash to meet that call. Don't panic and sit it out - the halvening happens in 2020 and the price will rise as we get closer to that date. |
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Bounty hunters are being paid project's token for the efforts of promoting their project. Some hunters immediately dump their tokens once it hit exchanges. Some of them actually hold the tokens because they believe in that project and the roadmap. Optimistic, they wait for sucess and the time it will hit moon. Others may actually exchange that token for another.
From your experiences, where do you usually allocate your bounty earnings?
9 out of 10 of these new coins will crash and burn. So the rational thing is to sell them immediately while they still have value. |
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Yes. Its too stable. The bears will soon get bored and move to something else.
As the halvening in 2020 approaches, bitcoin will rise again. Also - bitcoin seems to be uncorrelated to other markets (stocks, bonds, real estate) - so I can see some hedge funds getting exposure to protect themselves just in case there is a massive bear market in stocks triggered next year by the Fed tightening interest rates again. |
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In the Moslem Countries like Saudi Arabia, Qatar, United Arab Emirates even Brunei Darussalam etc were enacted Islamic Economy System based on sharia. Is It Possible that The Moslem Countries can accept the cryptocurrencies system in their economic system? What's your opinion?
The only thing forbidden by sharia is interest, I believe. So pure cryptos like bitcoin, litecoin and so on are fine. The staking coins might not be. |
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Look like HF20 made my profile useless RC Params
Rc manabar
current_mana -1,190,298,002,628,546
last_update_time 1,537,861,371
estimated_mana -1,190,295,144,624,207
estimated_max 30,311,741,980
estimated_pct -3926845.07%
Max rc creation adjustment
amount 500
precision 3
nai @@000000021
With these numbers , what is the amount of Steem power , do I require so that I am able to post again? . Stupid peoples. created the post https://steemit.com/steem/@steemitblog/blockchain-update-4-resource-credit-implementation-details but did not told about any numbers and amount of Steem power I need now. This has now been fixed. They've put through five patches, LOL, but it seems to be working smoothly again. |
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As we all have been speaking many times that Bitcoin possesses the power to diminish the use of fiat in a country where it's welcomed with full hearts, I wish to know that does it really have the ability to cope up with the challenges a country's economy faces? Can it help in the growth of their GDP?
As we know, Bitcoin is limited in number whereas Federal Reserve has the power to do monetary easing when things go wild with their economy levels. So with such limitations, can Bitcoin really stabilize any country's economic issues?
If it was going to happen we would have seen it by now in Venezuela, Argentina and Zimbabwe. Though all three seem to have quite an active crypto scene, it doesn't seem to have broken above 5% of the population. |
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The guy is probably just making stuff up for fun.
However coincidentally imagine if he is correct on those 2 dates which wouldn't be all that impossible then he gets a phone call from the SEC for insider trading.
Hence if someone knows about insider trading they never make it public because it's a crime.
This. Bitcoin has have several attempts breaking below $6000 and has failed each time. Partly because there are institutional bidders sitting just below the $6000 level. |
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Even though Iran participated in legalizing bitcoin, this did not affect the market price of Bitcoin. For example, today Bitcoin has actually decreased in price what happened with your news.
That's because they've mainly legalised bitcoin mining (which means sales of newly minted coins in order to earn dollars). |
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Bitcoin did not fail, it just an early adoption going on, give it 5 years more, so when more company and store will accept this bitcoin currency, people will feel comfortable and use it. Then it will become worldwide currency, bitcoin need time.
The problem is not time, but high transaction fees. Bitcoin already used to be accepted in the past in much more places than it is today. What happened? High transaction fees happened. This. We've gone backwards since december. Retailers seem to have given up on accepting bitcoin for commerce, and all focus seems to be on bitcoin as a financial asset instead (see all the chatter about ETFs etc). |
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This is what Wall Street call "price discovery". Its the point where they cant suppress the price any longer.
But the issue remains: will it go up from there? Will this bottom go up? Or will the price keeps swinging over it?
We’ve been here so many times this year, and seeing the previous price movement, always a bounce back after hitting this level. Maybe the theory of the OP is right since the support level are strong between the price range of $5k-$6k where buyers and sellers agreed the bottom price. No one can answer your question but as an optimist hodler, Maybe we see a new bottom but I know it will to rise again. IMO institutional investors have buys just under the $6000 mark. Which is why it's holding above that level. What is missing is retail investors - they've been scared away by the price drop from $20,000 plus all the drama with fees at the end of last year. |
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as per title how you recon the market is affected by individuals in countries like turkey, venesuella, brasil, argentina, russia, china, india (etc) which currently experience major currency devaluations against the dollar? normally it would be rather common practice to hold dollars as a hedge against the central bank's fiat denominations. though in countries like india they prefer gold. so now that an alternative is present how much buying pressure would it create to perhaps affect the bitcoin trend?
The issue is that by the time people in those countries realise their currency is devaluing, it's too late, they can't really afford to buy much bitcoin. You really need to diversify into bitcoin in the good times before the s**t hits the fan. |
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The sin tax on sugar has worked, not by getting consumers to stop buying the stuff, but by getting the vendors to change their recipes to avoid the tax.
The sugar tax in the UK is ONLY on fizzy drinks. And people are price sensitive when buying carbonated drinks. If one brand is 15p cheaper than another, that is what people will buy.
So pretty much all the drinks manufacturers reduced their sugar so that their drink wouldn't be taxed. The only exception being Coca Cola Classic which has a specific recipe that can't be changed.
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