Reports of China Banning Bitcoin Are Greatly Exaggerated
On November 3 the Bitcoin price took a dive from a high of US$745 to a low of $675 with news of China circling the internet. A so-called report from the publication Bloomberg had other media outlets assume that China was planning on curbing Bitcoin use in the near future. However, the reports have remained unconfirmed, and many believe the headline was....
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Oh, look. Another day, another story about China. Today, reports indicate that the governor of the People's Bank of China (PBOC) - the Chinese central bank - has no intentions of banning bitcoin. Despite the fact that their hasn't been talk lately of an outright ban, there's been chatter about banks discontinuing relationships with bitcoin exchanges. "It is out of the question of banning bitcoin as it is not started by central bank," Zhou Xiaochuan was quoted as saying, according to CoinDesk. "Bitcoin is more a kind of tradable and collectible asset, such as stamps rather than a payment....
The debate about bitcoin’s scalability should be viewed as a positive indicator, not a negative one. Instead, it has delivered a barrage of negative media that might have affected bitcoin’s price. The reverberations around bitcoin developer Mike Hearn’s departure from bitcoin continue, but bitcoin’s price has begun to recover while the global stock market is tanking. The recent price activity is only one reason Martin Tillier, a financial advisor writing in Nasdaq whom we’ve sourced before, has concluded: “Reports of Bitcoin’s Death Are Greatly Exaggerated.” Tillier thinks the discussion....
A new report from a British defense and security think tank, the Royal United Services Institute (RUSI), reveals that reports of terrorism financed through Bitcoin are greatly exaggerated. ‘Treating Cryptocurrencies as an Exceptional Threat is a Misleading Impression’. RUSI consultant David Carlisle said that there is a lot of attention given to the....
The decentralized finance (defi) ecosystem has become a multi-billion dollar industry and quite a bit of the popularity is stemming from China. While a number of defi projects from the West like Uniswap, Compound, and Makerdao are popular in the country, China is also creating its own landscape of defi platforms and applications. At the time of publication, the recorded total value locked (TVL) in defi is hovering around $10.8 billion. Uniswap captures the market dominance according to the web portal defipulse.com, as the trading protocol commands over 20% of the market. On October 1,....
Following China-related reports that caused investors to panic and bring the price of bitcoin down to $340 at the Bitstamp exchange, we're seeing a nice jump back up to the $430 range at the time of this writing. The price is up over 7 percent in the past day or so, reaching a high of $432 (so far). News this morning that the People's Bank of China Governor said that China has no intentions of banning the use of bitcoin are likely the reason for the climb. The bitcoin price took a beating this week when various exchanges announced some of their banking partners were closing accounts in....