Fake news, but effective fake news as the price has dropped quite a bit and then JPMorgan come out and call bitcoin a fraud and that it will blow up, looks like some big boys want in on bitcoin at a much lower entry point.
The banning of exchanges is not fake news but I really don't care about what JPMorgan thinks about bitcoins or you can say his statement has no affect on me because bitcoin is no fraud that will blow up. I will sit back in silence and let bitcoins prove him wrong.
Back to China, it banned exchanges because it was becoming a threat to Yuan by their own people. However OTC transactions are still possible.
Have you heard before that china will also block the cryptocurrency transaction? Network, IP, VPn, and etc will unable to use. If its truly happening, what will the miners do, while they will unable to mining again? Correct me if im wrong.
Let them do anything. I was absolutely not worried. The price of electricity in China is low. I'm sure that as soon as the demand for power, many countries will gladly fill all offers. The more posted will power miners the greater the bitcoin. Goodbye China.
