Price Reports and Tales From China-Dizzy Bitcoiners
Once again the bitcoin community has been dizzy due to the significant price increase, the following correction, and rumors of China. After the sharp price rally, the discussion has turned to the Chinese central bank warning about the volatile cryptocurrency bitcoin. Rumors From China Once Again Stir the Crowd. Here’s what we know. The price of....
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Bitcoiners on social media have panned remarks by acting U.S. currency comptroller Brian Brooks that bitcoin is owned by China due to the country’s disproportionate share of the crypto’s mining power. The bitcoiners argue that the disproportionate number of miners stationed in China only means the corresponding block rewards will reflect this imbalance. They add that no country owns bitcoin. Controlling Internet 2.0 According to Brooks, who has been tapped as the substantive director of the Office of the Comptroller of Currency (OCC), bitcoin miners in China possess more than....
Hours ago, Bitcoin Forum and Bitcoin Subreddit moderator, Theymos, posted to inform everyone that Bitcointalk.org had been blocked by the Great Firewall of China. From all over China, with the exception of Shanghai, Bitcoiners are reporting that Bitcointalk.org is now blocked. No official explanation for the block has been given, though speculation will fly. Chinese Bitcoiners should use https://bitcointa.lk/ or research methods to bypass the Great Firewall of China. Greatfirewallofchina.org is a website where you can query a website's accessibility from several locations within China. As....
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....
CoinDesk can confirm that the source for our original piece on the PBOC ban was Bobby Lee, CEO of bitcoin exchange BTC China. Lee said he is now happy to go on the record. Bitcoin dipped to its lowest price in a week, following yesterday's reports that the People's Bank of China had banned third-party payment firms from dealing with bitcoin exchanges. Prices took a dive throughout the day, starting at around $876 on the CoinDesk Bitcoin Price Index in the early hours (GMT), and falling to as low as $645 later in the day. Prices briefly rallied up to $771 on the BPI, only to dip once again.....
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....