Next step would obv be to close a small exchange. Then, after several smaller ones, proceed with the bigger ones.
Then go after the miners. Then go after every retailer that accepts BTC.
Then go after the miners. Then go after every retailer that accepts BTC.
It seems to me that the PBOC isn't going after Bitcoin. They're simply trying to prevent the outflow of capital from their country.
Yuan can be controlled. As long as the private keys are in China (such as in Chinese exchanges) they can control some bitcoins.
Once the coins are withdrawn to addresses whose private keys are elsewhere, they have no control whatsoever, hence the withdrawal suspension.
If this continues for more than the announced month, it could be extremely bullish. If all those coins are trapped in China, the supply to the rest of the world will be restricted.
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Glad I bought today, even if I had to try 5 ATMs to do so.
The 2 cheapest ones I use the most were both temporarily sold out, the 3rd one I tried was ridicujlously overpriced, the 4th only had a fraction of a coin and was overpriced.
Finally I found a machine in a waffle shop which was well-stocked, reasonably priced, and doing booming business. It was busy when I arrived and by the time I was done, there were already 2 more people waiting in line.
Where I live, at these prices, demand exceeds supply.
, but glad i dipped into cold storage to sell at 1050.
no you didn't!!
