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Bitcoin Slides as China's Central Bank Launches Checks On Exchanges (reuters.com)
An anonymous reader shares a Reuters report: China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People's Bank of China said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found. Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan. While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
We're not your pump-n-dump engine.
How is saying, "The price is falling!" going to pump up the price? Perhaps it's a short-n-spread-fud scheme.
> If only we'd noticed that every selling point of Bitcoin has actually been thoroughly debunked, that every major player in Bitcoin has been caught stealing or has failed (or both). If only we'd notice that blockchains have fundamental flaws that make them useless on any decent scale.
Bitcoin has died 119 times so far. Guess we'll make that 120 today then, based on your assessment?
source: https://99bitcoins.com/bitcoinobituaries/
There's nothing governments hate more than money outside of their control.
First they ignore it
Then they ridicule it
Then they fight it [ WE ARE HERE ]
Then digital currency wins
I use bitcoin to purchase stuff. I do not use it as an "investment." It seems to work for me. But I am sure it will die this year when the Linux Desktop takes over. (smh)