Bitcoin price drops following report that China is going to shut down local exchanges

Discussion in 'Latest News In The Bodybuilding World' started by NavyChief, Sep 9, 2017.

  1. NavyChief

    NavyChief VIP Member

    Sep 26, 2013
    360
    158
    Another day, another crash and another Chinese ban. This time, a single report from financial news site Caixin is saying that the Chinese government is considering banning cryptocurrency exchanges in China.

    In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

    Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.


    https://www.yahoo.com/finance/news/b...160633553.html
     
    rawdeal likes this.
  2. FlyingDragon

    FlyingDragon VIP Member

    Nov 4, 2010
    3,023
    1,349
    Its up this morning.....
     
  3. rezjzzor084

    rezjzzor084 Senior Member

    Dec 17, 2013
    237
    15
    best wishes for bitcoin - bitcoin meetups always allow you to buy red bull drinks with bitcoin
     
    NavyChief likes this.
  4. FlyingDragon

    FlyingDragon VIP Member

    Nov 4, 2010
    3,023
    1,349
    U only meet up with men that pay in bitcoin?
     
  5. rezjzzor084

    rezjzzor084 Senior Member

    Dec 17, 2013
    237
    15
    no, actually I never met anybody in my life who pays in bitcoin
     
  6. HerbertSwa

    HerbertSwa New Member

    Jul 25, 2018
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    The world's gone crazy. Just wait for the next morning to hear tha the opposite has occured! Ups and downs. Pro and cons.
     
  7. kid666

    kid666 VIP Member

    Jan 28, 2011
    1,431
    496
    If the price dropped than ill buy another grand worth tonight.
     
  8. rezjzzor084

    rezjzzor084 Senior Member

    Dec 17, 2013
    237
    15
    yesterday in the news on tv they said in china they produce 80% of the bitcoin energy by burning coal. so they plan to move the servers and chain calculating machines to island - where it is more cool so they don't need to produce electricity to cool down the equipment there
     
  9. metsfan4life

    metsfan4life VIP Member

    Jan 2, 2014
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    that BTC price is all over the place.
     
  10. BLTC

    BLTC VIP Member

    Dec 23, 2010
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    should drop hard this weekend into the 19th....which is cboe opex. I'll be loading up on XRP. THe only digital asset with a ready for production use case.
     
  11. metsfan4life

    metsfan4life VIP Member

    Jan 2, 2014
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    28
    i sure hope it doesnt drop too much. was going to use the BTC i have here shortly. not 100% in tune with all of the crypto but I do own some XRP
     
    sityslicker1 likes this.
  12. BLTC

    BLTC VIP Member

    Dec 23, 2010
    540
    75

    I was wrong. Price went up on opex. This means the COT is flipping from short to long. In a nutshell it's dart throwing season in cryptos. xrp was up over 100% for a bit today before the pullback caused by Binance/Poloniex's phony "crash" timed perfectly at xrp's HOD.

    XRP under $1 is the steal of the century. Generational life changing money to be made in 2019.
     

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