Topic: The coming weeks will determine the future of Bitcoin (And Alt-Coins) (Read 1203 times)
November 15, 2013, 10:56:34 AM
It would be doom if china ban Bitcoin...
November 15, 2013, 08:18:55 AM
Since Bitcoin got an increased interest in China beacuse of “China’s State Press Calls for ‘Building a de-Americanized World’” and “Breaking news: Baidu (NASDAQ:BIDU) accepts BITCOIN!” it has continued upwards from a low of 130 USD per Bitcoin to now more than 450 USD per Bitcoin.
So why does this happen now, and why so quick? From our yesterday’s post “Bitcoin: Player or pretender (video)” they are telling us that the Chinese may look at Bitcoin as a way to transfer CNY out of China and into other projects, funds, or tax safe havens (even in Bitcoin themselves). As it is now very hard for people in China to transfer funds legally into US dollar.
But there are also growing skepticism about the development of Bitcoin and the future of it. In our post “Is It Time to Boycott All US Bitcoin Companies? (voice)” the Bitcoin community itself explains that they are skeptic about the new entities trying to enforce identification of Bitcoin-users through different services to make it more appealing for the governments around the world. And as Tom Gullen writes “Bitcoin’s UK Future Looks Bleak” saying: “As anyone in the UK who has attempted to open a bank account to run a Bitcoin business knows, as it stands your chances are slim to none.”
http://www.cryptocoinsnews.com/2013/11/15/coming-weeks-will-determine-future-bitcoin-alt-coins/
So why does this happen now, and why so quick? From our yesterday’s post “Bitcoin: Player or pretender (video)” they are telling us that the Chinese may look at Bitcoin as a way to transfer CNY out of China and into other projects, funds, or tax safe havens (even in Bitcoin themselves). As it is now very hard for people in China to transfer funds legally into US dollar.
But there are also growing skepticism about the development of Bitcoin and the future of it. In our post “Is It Time to Boycott All US Bitcoin Companies? (voice)” the Bitcoin community itself explains that they are skeptic about the new entities trying to enforce identification of Bitcoin-users through different services to make it more appealing for the governments around the world. And as Tom Gullen writes “Bitcoin’s UK Future Looks Bleak” saying: “As anyone in the UK who has attempted to open a bank account to run a Bitcoin business knows, as it stands your chances are slim to none.”
http://www.cryptocoinsnews.com/2013/11/15/coming-weeks-will-determine-future-bitcoin-alt-coins/
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