China and the banks have interest in bitcoin and would want to get it cheap

Kprawn

legendary

Activity: 1904

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China and Banks wants full control and this is not even a secret anymore. Why do you think governments wants to get rid of

cash? They cannot track and monitor all cash transactions, but they can track "regulated" transactions within a framework

where Crypto currency users are linked to their wallets. So their answer is to enforce KYC/AML regulations on Bitcoin

exchanges. People still find ways to bypass these regulations, like they did with every other technology where governments

want to monitor and control them. Grin

gabmen

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Quote from: zycrypto on September 16, 2017, 05:30:24 AM

China, the banks and other regulations both have interest in bitcoin but probably wants to be the one in control of bitcoin just like fiat.

Bitcoin has been the mouth talk of everyone since the last months and has really gotten many attentions from huge governments and big banks who act like they see the cryptocurrency as an opposition to their finance management.

Read More => https://zycrypto.com/banks-china-strong-interest-bitcoin/

Right. Jamke dimon's been caught to have invested in crypto when the pri es plummeted due to his remarks and china's ban, which coincidentally happened almost at the same time. They know bitcoin is money and these people know how to make money

no0dlepunk

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Hmmm. I guess China can just rather mine bitcoins instead of FUDding for dips. If they are really into bitcoins then they will concentrate with the production/mining and not the accumulation. We should know by now how China plays the game of business. Chinese do not really care about the price of their products, they are more concern with the number of sales. Also, the banks won't talk shit about bitcoins if they will just promote it someday because nobody would buy it.

salihno71

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Activity: 420

Merit: 250

If the governments, banks and funds get involved in bitcoin on a large scale, you will see that today it is very cheap compared to where it will be in the future...

thulisman

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China is currently holding the most Bitcoins. Surely the Chinese will want to legally bitcoin so they benefit from more bitcoin. If Chinese banks are in charge of bitcoin management then the price of bitcoin will change a lot.

Manutax

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It appears that china will remain a potent force in determining the direction of bitcoin. But as the rest of the world catches on, this stranglehold will become insignificant in the future

sevenmiles

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Merit: 100

Quote from: electronicash on September 16, 2017, 07:01:54 AM

Quote from: davis196 on September 16, 2017, 06:55:34 AM

Quote from: zycrypto on September 16, 2017, 05:30:24 AM

China, the banks and other regulations both have interest in bitcoin but probably wants to be the one in control of bitcoin just like fiat.

Bitcoin has been the mouth talk of everyone since the last months and has really gotten many attentions from huge governments and big banks who act like they see the cryptocurrency as an opposition to their finance management.

Read More => https://zycrypto.com/banks-china-strong-interest-bitcoin/

I don`t want to click your link and read your article.Anyway,the Chinese banks might have some interest in bitcoin,but the PBOC(People`s bank of China) wants to get rid of all the cryptocurrency exchange platforms located in China.The Chinese banks obey to the PBOC rules and they will never accept bitcoins ,if PBOC doesn`t allow this.

what makes you so sure those chinese aren't into bitcoin even when the PBOC prohibit it?
whenever there is money, people flock to it including the chinese. this is the immutable law of greed. like you and the rest of us, stay and trade on exchanges because we know the price of what we are holding are going to spike any moment.

The central bank, PBOC, does not want non-bank institutes - the exchanges to be the center of the bitcoin market in China...
what PBOC really wants is a bitcoin industry, like security/stock markets, actually controlled by banks, big banks, which PBOC could easily regulate, and which would make PBOC feel secure? less risk?
whatever, i bet what will happen is that there will be new exchange, but owned, or at least partially owned by big banks, instead of small internet startups... Grin

i guess such thing will happen to US pretty soon... say hello to SEC and Fed...

fossilized

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It will be interesting to see how this"reverse" pump and dump by JP Morgan and perhaps China at large plays out in the next couple of month. Everyone knows that China has a massive interest in Bitcoins, and though the relationship is probably ambivalent, China houses the largest mining pools and also has the greatest need for decentralized currency. I do not see cyptocurrency just fading into the distance just because of 1 or 2 government rules.

The article itself tells nothing new. Just a summary of events of recent happenings.

Renampun

sr. member

Activity: 2338

Merit: 365

it could be that which is indeed planned by the Chinese government and other bank banks...
they are actually very interested in bitcoin, but now the price is very high, so they make a variety of speculation so that bitcoin prices can go down.

richkellj

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Quote from: webmastax on September 16, 2017, 07:44:09 AM

That's exactly what i think. Everyone want to buy bitcoin cheaper.

There is no way that China will leave crypto market this easily. They must have big plans behind all these moves and now JPMorgan's CEO statement against bitcoins while they are involved in bitcoins also makes clear that both want bitcoins in their pockets. Smart are those who have not sold out BTCs.

ryanben

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Quote from: BrewMaster on September 16, 2017, 07:42:09 AM

regulations has little to do with what you are saying. it is a pretty normal thing that comes from the fact that fiat is involved and that will also bring in the regulation and government's involvement.

people keep using the word "ban", i disagree with it. because it is not exactly what happened. it is all regulation-related. to force these exchanges to follow the monetary system rules. and of course there may be other purposes at work too but if these exchanges were licensed then nobody would have done anything to them like closing them down.

I agree with your thinking, the Chinese government is trying to legalize and here there is speculation in the news to control the supply.

leonair

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Activity: 1400

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I think most of all the people and company in the world has an interest in Bitcoin now and they will do anything to get it or control it in some way but they can't so they will do a move that will really affects the growth or advancement of it. We can all think anything all day we want but the move of China that impact the price of Bitcoin is normal in a way that many of their citizens panic sell.

Titanos

full member

Activity: 208

Merit: 100

Everybody wants to buy cheaper. So i think anyone that could dump the price to buy will do it. Exactly like China.

datodota002

full member

Activity: 224

Merit: 101

Quote from: zycrypto on September 16, 2017, 05:30:24 AM

China, the banks and other regulations both have interest in bitcoin but probably wants to be the one in control of bitcoin just like fiat.

Bitcoin has been the mouth talk of everyone since the last months and has really gotten many attentions from huge governments and big banks who act like they see the cryptocurrency as an opposition to their finance management.

Read More => https://zycrypto.com/banks-china-strong-interest-bitcoin/

I think the Chinese bank feels threatened with the development of bitcoin in china is getting bigger and more bnyak companies that adapt bitcoin. China is afraid because the very free properties of bitcoin will destroy the economy of their fiat currency

Catmony

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Recent ban of bitcoin exchange and ICO by chinese government shows governments and big bankers intention to get all profit from bitcoin trading and control bitcoin transactions within their territory. Government and big banks in china might start new bitcoin trading platforms and ICO software so that they will be the one who will get all profit from huge daily trading fees rather than some enterprenuer who have started bitcoin trading really long time ago.

webmastax

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That's exactly what i think. Everyone want to buy bitcoin cheaper.

BrewMaster

legendary

Activity: 2114

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There is trouble abrewing

regulations has little to do with what you are saying. it is a pretty normal thing that comes from the fact that fiat is involved and that will also bring in the regulation and government's involvement.

people keep using the word "ban", i disagree with it. because it is not exactly what happened. it is all regulation-related. to force these exchanges to follow the monetary system rules. and of course there may be other purposes at work too but if these exchanges were licensed then nobody would have done anything to them like closing them down.

electronicash

legendary

Activity: 3178

Merit: 1054

Quote from: davis196 on September 16, 2017, 06:55:34 AM

Quote from: zycrypto on September 16, 2017, 05:30:24 AM

China, the banks and other regulations both have interest in bitcoin but probably wants to be the one in control of bitcoin just like fiat.

Bitcoin has been the mouth talk of everyone since the last months and has really gotten many attentions from huge governments and big banks who act like they see the cryptocurrency as an opposition to their finance management.

Read More => https://zycrypto.com/banks-china-strong-interest-bitcoin/

I don`t want to click your link and read your article.Anyway,the Chinese banks might have some interest in bitcoin,but the PBOC(People`s bank of China) wants to get rid of all the cryptocurrency exchange platforms located in China.The Chinese banks obey to the PBOC rules and they will never accept bitcoins ,if PBOC doesn`t allow this.

what makes you so sure those chinese aren't into bitcoin even when the PBOC prohibit it?
whenever there is money, people flock to it including the chinese. this is the immutable law of greed. like you and the rest of us, stay and trade on exchanges because we know the price of what we are holding are going to spike any moment.

Emoclaw

sr. member

Activity: 420

Merit: 251

I disagree.
China sees Bitcoin as a thread to their currency (and it is, to all FIAT currencies) so they banned the means to acquire it.
They can't control Bitcoin and they're well aware of that, which is probably why they're trying to stop it.
It's reasonable to assume that mining operations are next.

davis196

hero member

Activity: 3150

Merit: 937

Quote from: zycrypto on September 16, 2017, 05:30:24 AM

China, the banks and other regulations both have interest in bitcoin but probably wants to be the one in control of bitcoin just like fiat.

Bitcoin has been the mouth talk of everyone since the last months and has really gotten many attentions from huge governments and big banks who act like they see the cryptocurrency as an opposition to their finance management.

Read More => https://zycrypto.com/banks-china-strong-interest-bitcoin/

I don`t want to click your link and read your article.Anyway,the Chinese banks might have some interest in bitcoin,but the PBOC(People`s bank of China) wants to get rid of all the cryptocurrency exchange platforms located in China.The Chinese banks obey to the PBOC rules and they will never accept bitcoins ,if PBOC doesn`t allow this.

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