China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.
"Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets".
It is the latest in China's national crackdown on what it sees as a volatile, speculative investment at best - and a way to launder money at worst.
In May, Chinese state intuitions warned buyers they would have no protection for continuing to trade Bitcoin and other currencies online, as government officials vowed to increase pressure on the industry.
In June, it told banks and payment platforms to stop facilitating transactions and issued bans on "mining" the currencies - the trade of using powerful computers to make new coins.
m
This great store of value and market crash protection falls like a rock, before the market even shakes. If there is a real crash, BTC will be the first thing to hit the $0.
h
Bitcoin is the future, Investing in it now will be the wisest thing to do especially with the current rise For real it's very profitable
G
Crypto is literally a pyramid scheme you're hoping the next guy will buy more then you did
E
I bought Bitcoin at every dip!
J
A whole bunch of long and short squeeze throughout the last few weeks. This isn’t bullish at all
a
Meanwhile at Crypto headquarters the launch of a new coin is celebrated every 15 minutes
A
If Bitcoin was something truly valuable - people who want it would not be telling you to buy. They would be keeping it all to themselves.
Bitcoin is a Ponzi Scheme, that requires new money to push prices higher.
r
Clearly, Institutions are coming into Bitcoin again, they do not want to miss a near 100% gains by EOY. Today's buying has all but Institution's money. I see Bitcoin reaching new highs and could go parabolic again in coming days. Not pumping anything here, but facts are just facts.
R
a single tulip bulb was worth the same as a home at the peak of tulip mainia. bitcoin is simply an imaginary tulip bulb destined to follow the path of other bubbles ........some people will loose everything
A
Since Ms. Wood's latest Bitcoin prediction breakout points that I am tracking. If Bitcoin crosses $70K then it will likely headed toward $100K. Once it crosses and sustains $100K then it will begin to move toward $282K. Once it sustains $282K then it will be on its way to Ms. Wood's new prediction of over $560K.
s
Still no answer … why is someone motivated to come in here and say negative things in a chat for Bitcoin investors ..
S
This great store of value and market crash protection falls like a rock, before the market even shakes. If there is a real crash, BTC will be the first thing to hit the $0.
a
Bitcoin is the future, Investing in it now will be the wisest thing to do especially with the current rise For real it's very profitable
j
You can actually smell their fear, Margin call sweethearts
How is Bitcoin like gold? You can't create gold but a new crypto coin is created every 15 minutes. This won't end well for delusional investors in crypto.
P
The fact is there is less than 8 million Bitcoins in circulation. 3-5mil are lost, founder 1 mil has never sold one. Institutions and large holders are not selling. So there is really no limit to what price could be. If large cap stocks with massive balance sheets start buying with plunging dollar, Btc will hit million quickly. Just a matter of time before one of FAANG stocks announces big purchase.
F
I wouldn't touch crypto currency right now it's been super inflated, the big wigs are about to pull the rug out from under everybody for end of year tax purposes.
"Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets".
It is the latest in China's national crackdown on what it sees as a volatile, speculative investment at best - and a way to launder money at worst.
In May, Chinese state intuitions warned buyers they would have no protection for continuing to trade Bitcoin and other currencies online, as government officials vowed to increase pressure on the industry.
In June, it told banks and payment platforms to stop facilitating transactions and issued bans on "mining" the currencies - the trade of using powerful computers to make new coins.
For real it's very profitable
Bitcoin is a Ponzi Scheme, that requires new money to push prices higher.
For real it's very profitable
https://lussosnews.com/exclusive-chartist-gives-opinion-on-bitcoin-btcusd-no-click-bait/