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Surely this is also very much related to the recent announcement in China [1], banning financial institutions and payment companies from providing services rela
by ourcat 5y ago
Surely this is also very much related to the recent announcement in China [1], banning financial institutions and payment companies from providing services related to cryptocurrencies?
[1 : https://www.reuters.com/world/china/what-beijings-new-crackdown-means-crypto-china-2021-05-19/ https://www.reuters.com/world/china/what-beijings-new-crackd... ]
- knowaveragejoe 5y agoThis quote made me laugh: "Hong Kong's Bitcoin Association said in a tweet in response to China's reiterated ban: "For those new to bitcoin, it is customary for the People's Bank of China to ban bitcoin at least once in a bull cycle."
- davesque 5y agoWas gonna say. I feel like I hear the same set of news stories once every 3-5 years.
- rawtxapp 5y agoJust like the last cycle when they flip flopped on banning it every other week.
- ipv6ipv4 5y agoThis still seems to leave open the ability for Chinese nationals to covertly convert yuan to foreign currencies without limits - buying compute with yuan which converts to BTC which can then be converted into anything. I wonder what the BTC/USD break even point is for that to make financial sense.