6 ms·
BTCChina reaction: http://i.imgur.com/cNuESY7.png http://i.imgur.com/cNuESY7.png
by mwilcox 13y ago
BTCChina reaction: http://i.imgur.com/cNuESY7.png http://i.imgur.com/cNuESY7.png
- user24 13y agobounced back pretty quickly: http://bitcoinity.org/markets/btcchina/CNY http://bitcoinity.org/markets/btcchina/CNY
- wjk 13y agoApparently not... not yet at least, still going down :p
- chrismorgan 13y agoSo it went down from 6979 to 6200.01 quite quickly. That's about 11%, not the utter plummet that ignoring the scale on your picture would suggest.
- steveklabnik 13y agoIf an actual currency was devauled 11% from a news article...
- user24 13y agoWhat do you think would happen to the XAU/CNY rate if China announced that gold was no longer accepted in banks?
- steveklabnik 13y ago... which is why they wouldn't do that, because it would be catastrophic.
- user24 13y agoso in other words, XBT behaved exactly as you expected XAU would in the same situation, yet somehow to you that reflects badly on XBT but not on XAU.
- steveklabnik 13y agoNo my point is that the Chinese government can control things so that this never happens. BTC cannot.