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My gut feeling is there's some truth to the rumour. Related resources: • Original Caixin Report that sparked all this: http://finance.caixin.com/2017-09-08/101

My gut feeling is there's some truth to the rumour. Related resources: • Original Caixin Report that sparked all this: http://finance.caixin.com/2017-09-08/101142797.html http://finance.caixin.com/2017-09-08/101142797.html • (RECOMMENDED) Good English translation of above article: https://docs.google.com/document/d/1sNYGpwj3EKkRhlejoycytZLq1OpFpl0bqOtCev0HexY/edit https://docs.google.com/document/d/1sNYGpwj3EKkRhlejoycytZLq... • Shorter English announcement from Caixin: http://www.caixinglobal.com/2017-09-09/101142821.html http://www.caixinglobal.com/2017-09-09/101142821.html • Coindesk article pointing out Caixin has been spot-on in the past (re their Sep 2 leak regarding ICO fundraising): https://www.coindesk.com/report-casts-doubt-future-chinas-bitcoin-exchanges/ https://www.coindesk.com/report-casts-doubt-future-chinas-bi... • Related official news out of China regarding ICO ban: https://www.reddit.com/r/ethtrader/comments/6ywtkt/the_actual_pboc_news_released_today_pertains_to/ https://www.reddit.com/r/ethtrader/comments/6ywtkt/the_actua... • Tweet from CEO of ViaBTC saying "China will shut down all exchanges": https://www.cryptocoinsnews.com/viabtc-ceo-china-will-ban-bitcoin-exchanges/ https://www.cryptocoinsnews.com/viabtc-ceo-china-will-ban-bi... It's not the first time China's cracked down on virtual currency <--> fiat trading, but if true this could be more intense than their prior efforts. (Note this is a repost of my comment made to a previous HackerNews article on the topic)

lookbeforeleap 9y ago
Banning ICO is really different than banning Bitcoin exchanges. ICOs have been used by a group of people to do Ponzi Schemes, and the Gov't got a lot of requests from various money-got-stolen investors.
vit05 9y ago
People are acting exactly like people that participate in pyramid schemes. Denied, saying it is fake, searching for stupid reasons. That is just pathetic and horrible for the future of cryptocurrency. Things like this will happen and need to be discussed. It appears that the ban will be for the trade of fiat for Bitcoin. Everything else, including p2p trade, will be allowed. So, the price of Bitcoin will fall a little more, but, eventually, they will find ways to get crypto currency. Maybe a new coin, maybe more regulations or maybe people2people trades will be the future. There are already several great products emerging that do not need exchanges to trade crypto like 0x, Kyber.Network and even Ethertrade.

lookbeforeleap 9y ago

Banning ICO is really different than banning Bitcoin exchanges. ICOs have been used by a group of people to do Ponzi Schemes, and the Gov't got a lot of requests from various money-got-stolen investors.

vit05 9y ago

People are acting exactly like people that participate in pyramid schemes. Denied, saying it is fake, searching for stupid reasons. That is just pathetic and horrible for the future of cryptocurrency. Things like this will happen and need to be discussed. It appears that the ban will be for the trade of fiat for Bitcoin. Everything else, including p2p trade, will be allowed. So, the price of Bitcoin will fall a little more, but, eventually, they will find ways to get crypto currency. Maybe a new coin, maybe more regulations or maybe people2people trades will be the future. There are already several great products emerging that do not need exchanges to trade crypto like 0x, Kyber.Network and even Ethertrade.