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Author Topic: 2013-11-22 NYTimes blog - Bitcoin Gets a Cautious Nod From China’s Central Bank  (Read 956 times)
Kikkerdril
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November 22, 2013, 04:32:35 PM
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http://sinosphere.blogs.nytimes.com/2013/11/22/bitcoin-gets-a-cautious-nod-from-chinas-central-bank/

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Speaking at an economic forum on Wednesday, Yi Gang, the deputy governor of the People’s Bank of China and director of the State Administration of Foreign Exchange, said that it would be impossible for China’s central bank to recognize the Bitcoin as a legitimate financial instrument in the near future. But, Mr. Yi added, people are free to participate in the Bitcoin market and he would personally adopt a long-term perspective on the currency.
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TraderTimm
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November 22, 2013, 08:17:47 PM
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Just to be sure, I had a friend read this over who understands Chinese. He said that it seemed there was more than a cautious nod, more like the knowing acceptance that Bitcoin is going to be important for the future. Perhaps it is just the subtleties of language, I don't know. The best part is that the person commenting on bitcoin is highly placed at his Bank, which just speaks to the visibility of bitcoin in general.

I think there's more to the China story than meets the eye, and we've yet to hear all of it. Overall, really bullish long term.

fortitudinem multis - catenum regit omnia
LiteCoinGuy
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November 22, 2013, 09:30:17 PM
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Just to be sure, I had a friend read this over who understands Chinese. He said that it seemed there was more than a cautious nod, more like the knowing acceptance that Bitcoin is going to be important for the future. Perhaps it is just the subtleties of language, I don't know. The best part is that the person commenting on bitcoin is highly placed at his Bank, which just speaks to the visibility of bitcoin in general.

I think there's more to the China story than meets the eye, and we've yet to hear all of it. Overall, really bullish long term.


your native speaker friend could be right. there is always a loss in the language when you translate it.

i dont understand why this news has so less clicks. for me this press is very big and good news but of course i expect regulation in 1-2 years, when bitcoin is even bigger.

Kikkerdril
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November 23, 2013, 05:19:20 PM
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i dont understand why this news has so less clicks. for me this press is very big and good news

I agree, it got more attention on the Bitcoin subreddit.
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November 23, 2013, 09:17:19 PM
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i dont understand why this news has so less clicks. for me this press is very big and good news

I agree, it got more attention on the Bitcoin subreddit.

yep, and coindesk also has a story about it.

http://www.coindesk.com/people-free-use-bitcoin-exchanges-says-chinese-central-bank-official/

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