PBOC over the last 48 hours does what PBOC does best in crypto, stir things up a bit. And what timing, right at the high where they last released news in 2013??? Interesting.
For now however, I do not think this news is awful, what was the message?
Bobby Lee was traveling giving presentations to groups about how Bitcoin has soared in times of devaluation, and it could possibly be seen as a safe haven. They do not want this being promoted, if the continuation path is devaluation.
If PBOC wanted to ban Bitcoin, they would of, but they didn't. Why? Is it because PBOC already foresees Bitcoin/Blockchain as the future, and they want to make sure these young exchanges are building on sound fundamentals to avoid of possible collapses such as Mt.Gox? (www.livebitcoinnews....al-digital-currency/).
I haven't yet seen the mega bull trend even come close to being in question. We know we were a bit out of control, and now we're cooling off, and have a very wide range here. Please don't go crazy with margin, and use your SL and TPSL :)
Tread carefully!! & Good Luck!
For now however, I do not think this news is awful, what was the message?
- Exchanges cannot allow trade washing, or fake volume. (great we have wanted this for years. The only way this hurts Bitcoin is if we find there has been a HUGE % of fake trading taking place helping to inflate/push price upwards)
- Be sure to practice KYC/AML (Pretty standard exchange practice)
- Be sure to warm of the risk associated with trading Crypto, and that each individual is responsible for their own securing of wealth, there is no insurance.(pretty standard)
- You cannot advertise offline. Nor can you advertise that Bitcoin is an alternative to avoiding Yaun Devaluation...(AHA, more devaluation ahead for Yuan?).
Bobby Lee was traveling giving presentations to groups about how Bitcoin has soared in times of devaluation, and it could possibly be seen as a safe haven. They do not want this being promoted, if the continuation path is devaluation.
If PBOC wanted to ban Bitcoin, they would of, but they didn't. Why? Is it because PBOC already foresees Bitcoin/Blockchain as the future, and they want to make sure these young exchanges are building on sound fundamentals to avoid of possible collapses such as Mt.Gox? (www.livebitcoinnews....al-digital-currency/).
I haven't yet seen the mega bull trend even come close to being in question. We know we were a bit out of control, and now we're cooling off, and have a very wide range here. Please don't go crazy with margin, and use your SL and TPSL :)
Tread carefully!! & Good Luck!
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