Bank of China: You will see bitcoin’s dead body

[First77]

People’s Bank of China, Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”

Over the weekend, it was China’s central bank. Then, on Tuesday (Dec. 05), the Reserve Bank of India (RBI) warned investors against betting on bitcoin and other cryptocurrencies.

“So there’s only one thing we can do—watch it from the bank of a river,” Pan Gongsheng, deputy governor of the People’s Bank of China, said at an event in Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”

READ: Bitcoin surges past $12,000 for first time: 5 things to know about the cryptocurrency

The Indian central bank, however, was more straightforward, “…cautioning users, holders and traders of virtual currencies (VCs), including Bitcoins regarding the potential economic, financial, operational, legal, customer protection, and security-related risks associated in dealing with such VCs.” The RBI’sDec. 05 release reiterated the concerns it had raised twice before in December 2013 and February 2017.

These warnings come in the wake of bitcoins’ skyrocketing value—up more thana 1,000% this year. In India, their price has almost doubled in a month, fromRs4.55 lakh ($7,070) on Nov. 01 to Rs8.6 lakh on Dec.05. The spike has led to frenzied buying.

https://www.msn.com/en-in/money

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[stompix]

I doubt that will happen in China or India.
First, in order to see BTC's dead body they will have to clean all the junk from their rivers.

That aside, why hasn't he mentioned a date We could have added it to the wall of fame:
https://99bitcoins.com/bitcoinobituaries/

Oh,searching around I just found something interesting about this guy (besides the fact that he is a real commie):

https://www.ft.com/content/50552fbe-f1b0-11e6-8758-6876151821a6

Mr Pan said recent measures to restrict capital outflows are primarily targeting suspicious or fraudulent transactions, as well as currency speculation.

As I thought, the guy fears capital outflows the most and cryptos are the best tools for doing it.

[Ozero]

It is necessary to get used to the fact that representatives of banks can always criticize bitcoin and other decentralized crypto currency. After all, the crypto currency is a serious danger to their income. More and more people are dropping banks and switching to settlements in the crypto currency. What banks like it. So they try to smear first of all bitcoin, which people know more than all the crypto currency.

[Lock00Live]

While China is the most bitcoin country in the world, most bad news about bitcoin comes from China.
What do you think about this ?
I firmly believe that this is a Chinese investor's drive to dominate the cryptocurrency and bitcoin markets. Be careful in your decisions.

[filharvey]

We have already seen the obituary of bitcoin a hundred times in the Internet earlier. But still it has survived despite such actions from various governments and banks.But it should also be noted that a chief officer of SEBI in India said that Bitcoin could not be avoided.

[e19293001]

While China is the most bitcoin country in the world, most bad news about bitcoin comes from China.
What do you think about this ?
I firmly believe that this is a Chinese investor's drive to dominate the cryptocurrency and bitcoin markets. Be careful in your decisions.

I agree. Chinese are very good in doing business. They've been seeking
money making for centuries and what they have learned had been passed
to their generations.

[Pab]

That guys are managing countries with well above of 1bln citzens each.And for what was that China ban,Chinise lost his money on oversea exchanges.Now China will be back with his new regulations and icos will be back to China only legit ico's done on special chinise platform.Meanwhile we will have launch of new chinise blockchain with his own smart contracts,much more green,secure,and fast

[btcCoincart]

Why China?

[IfixTchenTchen]

This is quite likely actually. Bitcoin will not live forever, and the Bank of China is likely to last for a long long time. But did they really declare something like that?

[Yakamoto]

I doubt that will happen in China or India.
First, in order to see BTC's dead body they will have to clean all the junk from their rivers.

Oh god I'm rolling with laughter, either I'm in a good mood today and ready to chuckle or there is some damn good humor populating the threads these days.

The fact that there are people within the bank of China that are saying these things probably means that they have no idea what they're going to do and are hoping to scare people off with the comments alone. There's nothing that they've done, explicitly, beyond playing games with users and having no damn idea what they're doing, for the most part. It's ridiculous that they're saying these things when they are just trying to kill it in the most passive way possible.

[monkeydominicorobin]

People’s Bank of China, Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”

Over the weekend, it was China’s central bank. Then, on Tuesday (Dec. 05), the Reserve Bank of India (RBI) warned investors against betting on bitcoin and other cryptocurrencies.

“So there’s only one thing we can do—watch it from the bank of a river,” Pan Gongsheng, deputy governor of the People’s Bank of China, said at an event in Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”

READ: Bitcoin surges past $12,000 for first time: 5 things to know about the cryptocurrency

The Indian central bank, however, was more straightforward, “…cautioning users, holders and traders of virtual currencies (VCs), including Bitcoins regarding the potential economic, financial, operational, legal, customer protection, and security-related risks associated in dealing with such VCs.” The RBI’sDec. 05 release reiterated the concerns it had raised twice before in December 2013 and February 2017.

These warnings come in the wake of bitcoins’ skyrocketing value—up more thana 1,000% this year. In India, their price has almost doubled in a month, fromRs4.55 lakh ($7,070) on Nov. 01 to Rs8.6 lakh on Dec.05. The spike has led to frenzied buying.

https://www.msn.com/en-in/money

Bitcoin does not have a body in the first place. Second if they really want Bitcoin to be buried six feet under they should have allowed the CEO's of exchange sites to get out of mainland China instead of keeping them inside China by force. China is a hypocrite just like MSN.

[mevmike]

This government and bank precautions have already been happening even from before and there isnt really anything we can do about it.
Banks releases statwment like this in order to protect their interest rather than the investors.
But at the end of the day the decision whether to engagw in bitcoin or not will still fall on ourselves.

[First77]

I agree. Chinese are very good in doing business. They've been seeking money making for centuries and what they have learned had been passed
to their generations.

Chinese government is encouraging investments in Gold and Silver since year 2013

[HashieNewb]

People’s Bank of China, Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”

Over the weekend, it was China’s central bank. Then, on Tuesday (Dec. 05), the Reserve Bank of India (RBI) warned investors against betting on bitcoin and other cryptocurrencies.

“So there’s only one thing we can do—watch it from the bank of a river,” Pan Gongsheng, deputy governor of the People’s Bank of China, said at an event in Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”

READ: Bitcoin surges past $12,000 for first time: 5 things to know about the cryptocurrency

The Indian central bank, however, was more straightforward, “…cautioning users, holders and traders of virtual currencies (VCs), including Bitcoins regarding the potential economic, financial, operational, legal, customer protection, and security-related risks associated in dealing with such VCs.” The RBI’sDec. 05 release reiterated the concerns it had raised twice before in December 2013 and February 2017.

These warnings come in the wake of bitcoins’ skyrocketing value—up more thana 1,000% this year. In India, their price has almost doubled in a month, fromRs4.55 lakh ($7,070) on Nov. 01 to Rs8.6 lakh on Dec.05. The spike has led to frenzied buying.

https://www.msn.com/en-in/money

Those Government agents in China needs to realize that they can't fully stop Bitcoin because Bitcoin is not only used in Asia.

[Murloc]

All of the apocalypse predictions from the financial experts have 1 important thing in common with each other. People start saying things about the death of BTC every time bitcoin aither enters a downtrend or ot already came to its top and the further correction is obvious. None of them wants to look like a fool saying that Bitcoin is dying during the market drowth.

[Paul stuart]

Seeing governments put as much effort into banning bitcoin makes the project very interesting!

[alyssa85]

People’s Bank of China, Shanghai. “One day you’ll see bitcoin’s dead body float away in front of you.”

Over the weekend, it was China’s central bank. Then, on Tuesday (Dec. 05), the Reserve Bank of India (RBI) warned investors against betting on bitcoin and other cryptocurrencies.

Governments that have capital controls (China, India) hate bitcoin. Govts with freely trading currencies (Japan, Switzerland) have legalised bitcoin because they think they gain more from it than they lose.

Basically the future leaders of fintech and cryptocurrency will get decided this year. The countries that ban it will end up losing badly.

[EnaksiS]

Why we trust banks? Of course they say thinks like this, becuase cryptocurrency means end of the banks. So they are believing, if they could kill bitcoin this think will fnish before start. So, do not trust their words. They are just vampires. Do not let them to suck your blood.

[BitNinja2017]

It appears obvious that this is FUD trying to push prices down. then the large institutional money will come in and buy all the BTC you guys are selling for half price.
Then when the boom happens, the rich will continue to be richer and banks will have major holdings.

The key way to win is to HODL. Don't let this media manipulation get what they are wanting, i.e. Fear in the masses and cheap BTC being sold

[Calligiato]

What are you going to do with these ASIC things then ?  You are supposed to lead us in this revolution...