Hong Kong Issues Warning About Bitcoin

[HarmonLi]

Well, what are they supposed to do, actually? Bitcoin is a completely new and unknown technology compared to the regular financial world and people still struggle to put it in a fitting category. Bitcoin is not regulated, it's decentralized and they can't possibly exert control over it. A central bank is best off offering such an advice, I guess...

[ElectricMucus]

Well, what are they supposed to do, actually? Bitcoin is a completely new and unknown technology compared to the regular financial world and people still struggle to put it in a fitting category. Bitcoin is not regulated, it's decentralized and they can't possibly exert control over it. A central bank is best off offering such an advice, I guess...

They could simply ignore it.

[HarmonLi]

Well, what are they supposed to do, actually? Bitcoin is a completely new and unknown technology compared to the regular financial world and people still struggle to put it in a fitting category. Bitcoin is not regulated, it's decentralized and they can't possibly exert control over it. A central bank is best off offering such an advice, I guess...

They could simply ignore it.

The question remains what their actual task is. Is it to protect the citizens or companies of Hong Kong form something? Is it to retain control over the supply of financial vehicles - as ordered by the government? If it indeed was one of those things, they effectively are obliged to take a stand on this.

[ElectricMucus]

The question remains what their actual task is. Is it to protect the citizens or companies of Hong Kong form something? Is it to retain control over the supply of financial vehicles - as ordered by the government? If it indeed was one of those things, they effectively are obliged to take a stand on this.

I don't think they have any explicit task to do except manage the supply of Honk Kong Dollars, and the tasks associated with it.
What they did was probably just a self initiated PR move to show Hong Kongers "The central Bank cares about us."

[Ayle56]

I have been looking for a thread explaining the drop from 221 to 214. Thanks to the OP this thread explains what caused it. This forum is great for getting the latest news.

[waterpile]

brace yourself, panic seller will make BTC falling again.
I hope BTC wouldnt drop under $200 ever again.

even if there is no panic sell the price would still fall, thats what it was been doing these past couple of months.

[dataispower]

brace yourself, panic seller will make BTC falling again.
I hope BTC wouldnt drop under $200 ever again.

even if there is no panic sell the price would still fall, thats what it was been doing these past couple of months.

Is there any reason for new people to enter the market right now?

[NotLambchop]

brace yourself, panic seller will make BTC falling again.
I hope BTC wouldnt drop under $200 ever again.

even if there is no panic sell the price would still fall, thats what it was been doing these past couple of months.

Is there any reason for new people to enter the market right now?

Masochism is a thing u know.

[CoinCidental]

this news was fake ,there were not scammed of any BTC
they were promised something like 300% profits for investing in a
BTC ponzi that issued them iou's in the form of coins that could not be withdrawn

same old scam dressed up a little differnt and it fools people every time ,everyone in
china already knew this was scam waiting to implode for the last 6 months or so

its hard to feel sorry for people when they throw their money to the first crook that promises
them hundreds of % of interest without asking how or why

[NotLambchop]

...same old scam dressed up a little differnt and it fools people every time
...

You mean Bitcoin?