I'm more worried about the price of Bitcoin than Stratis breaking below 6,000 Sat.
From the look of it, the Chinese government is preparing to impose capital controls on Bitcoin. With a Donald Trump victory seeming more of a possibility with each passing day (the FBI has just announced it will indite the Clinton Foundation), we can reasonably expect a period of great turmoil in equities and in forex market.
Now, I absolutely loath the Clintons, but should a Trump victory materialize, I feel that the Chinese bubble will probably collapse, sending people scrambling to move their money into "safe haven" investments such as Bitcoin. Should that scenario materialize, what is to say the Chinese government won't start shutting down mining farms all over the country? This would completely obliterate the price of Bitcoin, as there is massive mining concentration in China and as 90% of transactions originate in that country.
That being said, I can't think of any other asset class promising the kind of returns achievable in cryptocurrency speculation, so I guess we'll just have to hang on tight.
From the look of it, the Chinese government is preparing to impose capital controls on Bitcoin. With a Donald Trump victory seeming more of a possibility with each passing day (the FBI has just announced it will indite the Clinton Foundation), we can reasonably expect a period of great turmoil in equities and in forex market.
Now, I absolutely loath the Clintons, but should a Trump victory materialize, I feel that the Chinese bubble will probably collapse, sending people scrambling to move their money into "safe haven" investments such as Bitcoin. Should that scenario materialize, what is to say the Chinese government won't start shutting down mining farms all over the country? This would completely obliterate the price of Bitcoin, as there is massive mining concentration in China and as 90% of transactions originate in that country.
That being said, I can't think of any other asset class promising the kind of returns achievable in cryptocurrency speculation, so I guess we'll just have to hang on tight.
I don't see this news in btc38, maybe the news is fake.
I don't think China will come out and ban bitcoin all of a sudden. They have passed some law stating that bitcoin is people's right (read this in an article in coin telegraph sometime ago). China has a vibrant crypto community and I only see it growing in the coming years. Perhaps, Russia may take harsh steps as imposing serious laws to slow down the bitcoin adoption, I don't see China doing it. China may impose some tax on bitcoin and bitcoin mining. The economic turmoil will always be in favour of bitcoin and crypto currency.
China won't impose tax on bitcoin, they don't charge tax in stock and share markets, not like in western, usually 20% tax on capital gains.
No government can ban bitcoin, Russian gov banned before, but now they gave ip up, and announced bitcoin is ok, lol. Shame on the govs
