Bitcoin Forum
March 19, 2024, 09:18:35 AM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2017-05-02]10000 yuan ATH may impact altcoin exchanges in Southern China  (Read 8258 times)
hl5460 (OP)
Legendary
*
Offline Offline

Activity: 1620
Merit: 1000


news.8btc.com


View Profile WWW
May 02, 2017, 10:06:02 AM
 #1

April 29Th to 1st May is the Labor’s Holiday in China. On 2nd May, Chinese bitcoiners witnessed another milestone in Bitcoin history as Bitcoin reaches 10,320 yuan on btc38, the only exchange that still processes btc withdrawal with 7-15 days of delay. But rumor has it that the exchanges in the southern China will be facing tightening regulation starting in May. Bter, bitkan, btc38, chbtc and Bichuang might be affected.

http://news.8btc.com/as-btc-sets-10000-yuan-ath-tightening-regulation-may-impact-exchanges-in-southern-china

1710839915
Hero Member
*
Offline Offline

Posts: 1710839915

View Profile Personal Message (Offline)

Ignore
1710839915
Reply with quote  #2

1710839915
Report to moderator
1710839915
Hero Member
*
Offline Offline

Posts: 1710839915

View Profile Personal Message (Offline)

Ignore
1710839915
Reply with quote  #2

1710839915
Report to moderator
Be very wary of relying on JavaScript for security on crypto sites. The site can change the JavaScript at any time unless you take unusual precautions, and browsers are not generally known for their airtight security.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1710839915
Hero Member
*
Offline Offline

Posts: 1710839915

View Profile Personal Message (Offline)

Ignore
1710839915
Reply with quote  #2

1710839915
Report to moderator
Spirit2016
Sr. Member
****
Offline Offline

Activity: 246
Merit: 250



View Profile
May 03, 2017, 08:37:50 PM
 #2

April 29Th to 1st May is the Labor’s Holiday in China. On 2nd May, Chinese bitcoiners witnessed another milestone in Bitcoin history as Bitcoin reaches 10,320 yuan on btc38, the only exchange that still processes btc withdrawal with 7-15 days of delay. But rumor has it that the exchanges in the southern China will be facing tightening regulation starting in May. Bter, bitkan, btc38, chbtc and Bichuang might be affected.

http://news.8btc.com/as-btc-sets-10000-yuan-ath-tightening-regulation-may-impact-exchanges-in-southern-china
The Chinese authorities very rigidly regulate all spheres of activity in their country bringing a good income. In this regard, Bitcoin is no exception. I have long suspected that there is strict control by the government.
darkangel11
Legendary
*
Offline Offline

Activity: 2296
Merit: 1335


Defend Bitcoin and its PoW: bitcoincleanup.com


View Profile
May 03, 2017, 09:16:25 PM
 #3

The same shit again and again. Every time the price goes up there are rumors of Chinese regulations and bans. I recall it started in 2014 and  there hasn't been any significant progress till this day. It really seems like someone in China is influencing the regulators to issue these warnings and profits from it.

███████████████████████████
███████▄████████████▄██████
████████▄████████▄████████
███▀█████▀▄███▄▀█████▀███
█████▀█▀▄██▀▀▀██▄▀█▀█████
███████▄███████████▄███████
███████████████████████████
███████▀███████████▀███████
████▄██▄▀██▄▄▄██▀▄██▄████
████▄████▄▀███▀▄████▄████
██▄███▀▀█▀██████▀█▀███▄███
██▀█▀████████████████▀█▀███
███████████████████████████
.
.Duelbits.
..........UNLEASH..........
THE ULTIMATE
GAMING EXPERIENCE
DUELBITS
FANTASY
SPORTS
████▄▄█████▄▄
░▄████
███████████▄
▐███
███████████████▄
███
████████████████
███
████████████████▌
███
██████████████████
████████████████▀▀▀
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
.
▬▬
VS
▬▬
████▄▄▄█████▄▄▄
░▄████████████████▄
▐██████████████████▄
████████████████████
████████████████████▌
█████████████████████
███████████████████
███████████████▌
███████████████▌
████████████████
████████████████
████████████████
████▀▀███████▀▀
/// PLAY FOR  FREE  ///
WIN FOR REAL
..PLAY NOW..
TraderTimm
Legendary
*
Offline Offline

Activity: 2408
Merit: 1121



View Profile
May 04, 2017, 03:53:17 PM
 #4

China is facing a rather dangerous credit bubble deleveraging event.

It involves WMPs (Wealth Management Products) that essentially mimic leveraged money-market accounts based on assets that are underperforming. The interbank rate in China spiked to 9% from 4.5% and is currently exhibiting stress that you'd see when large banks don't trust each other enough to lend at normal rates.

Combine that with some banks that have taken money for WMP's, and didn't even invest the money -- making it a total ripoff -- you have a credit bubble amounting to about 1 Trillion USD that is going to come crashing down. This will devalue the Yuan considerably and probably crush their equity markets.

Beware... its in the early stages, much like Feb '07 was the first rumblings of the 2008 CDO housing disaster. Nobody knows how fast this sucker will deleverage once it gets going.

fortitudinem multis - catenum regit omnia
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!