You realize what this means right, the China market is pretty much dead in the water. Central bank won't allow for financial institutions to do business with bitcoin exchanges... Which only leaves the otc bitcoin market. There's no reason for anyone in China to hold bitcoins anymore. Everyone will sell and withdraw.
Right... because Chinese do no international trade.... lol
Exactly genius, so American will buy stuff from China, pay in bitcoin and the manufactures in China will pay the labor and materials with a currency that's worthless inside the country.
Win for USD as world reserve currency. Think man, THINK.
You don't really understand bitcoin, do you.
For international settlements, it is unbeatable. They don't have to spend it domestically at retail. USA is a consumer economy so it would matter in USA. China isn't.
Get your head in the game man.
