Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

TexasTowelie

(111,280 posts)
Sat Sep 9, 2017, 05:00 AM Sep 2017

Bitcoin tumbles on report China to shutter digital currency exchanges

NEW YORK (Reuters) - Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback.

Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China.

Reuters was not immediately able to verify the report. But two sources in direct contact with officials at three Chinese bitcoin exchanges - Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi - said the platforms told them that they have not heard anything from the Chinese government.

The news follows China’s move earlier this week to ban so-called “initial coin offerings,” or the practice of creating and selling digital currencies or tokens to investors in order to finance start-up projects.

Read more: http://www.reuters.com/article/us-bitcoin-china/bitcoin-tumbles-on-report-china-to-shutter-digital-currency-exchanges-idUSKCN1BJ1US

5 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Bitcoin tumbles on report China to shutter digital currency exchanges (Original Post) TexasTowelie Sep 2017 OP
The whole bitcoin thing sounds extremely chancey. brush Sep 2017 #1
Vs what? Not Ruth Sep 2017 #2
Actual currency. brush Sep 2017 #3
I don't get why bit coin buffs can't deal in real terms. wasupaloopa Sep 2017 #4
Bit coin seems like a great plan for the few to screw the many dembotoz Sep 2017 #5
 

Not Ruth

(3,613 posts)
2. Vs what?
Sat Sep 9, 2017, 06:56 AM
Sep 2017

T bills? Yes
Civil service job? Yes
Derivatives and options? No
Starting a restaurant? No

 

wasupaloopa

(4,516 posts)
4. I don't get why bit coin buffs can't deal in real terms.
Sat Sep 9, 2017, 08:33 AM
Sep 2017

It's like some religion or something with a phony dogma.

If only enough people would believe then we could really have something.

Latest Discussions»General Discussion»Bitcoin tumbles on report...