The ‘solutions’ which are being talked about are not solutions at all. They are in effect crippling changes to their business model. For all practical purposes, first time buyers of Bitcoin cannot use these exchanges. They have to depend on peer to peer sellers.
And we all know that if business model has changes, it has a bad effect. I think similar to China, they can declare that they won over bitcoin or crypto, but unknowingly to them, their citizens continue to trade underground user localbitcoins or peer to peer sellers.
https://coin.dance/volume/localbitcoins/CNY/BTC
710 BTC in 7 days, a volume of 100BTC a day from 100 000 or god know what Huobi and Ok claimed ....
Common, trading in China has been crippled.
The ‘solutions’ which are being talked about are not solutions at all. They are in effect crippling changes to their business model. For all practical purposes, first time buyers of Bitcoin cannot use these exchanges. They have to depend on peer to peer sellers.
Their solution is to turn into locabitcoins....
Worse prices than exchanges (best deal right now is 6,545.43), less security, and just as traceable if somebody really wants to do it. A police agent will just buy a few USD from the top traders on local bitcoins, get their bank accounts and then they will have the info about everybody who has dealt with those guys before.
