Cryptocurrency

[greenlake]

China and some muppet from JP Morgan

Bitcoin exchange BTCChina to stop trading, cites regulators' concerns | Reuters

https://www.bloomberg.com/news/artic...-fraud-bitcoin

Breaking news....

China to close all bitcoin exchanges by end-September: Yicai | Reuters

[milanbenes]

Yes. A very different story.
The French Franc was created as a currency in 1795 so no comparison is valid.
During WWI the Franc was devalued by around 70% so no comparison is valid.

The only comparison is the GBP as it's the only currency that was there before, during and after those events. After the British Gold Standard Act 1925 all comparisons against gold are difficult to quantify, except against the USD which effectively became the international standard at around the same time.

uh no Lance, if you put your contact lenses in and read my posts carefully you'll see you've precisely proved my point

thanks for that

talk to you tomorrow

Milan.

[scooterscot]

Breaking news....

China to close all bitcoin exchanges by end-September: Yicai | Reuters

Followed by 'China to suspend bitcoin exchange close' in two weeks

Why wait until September end?

[FrontEnder]

the biggest difference I see between a Digital Currency and Gold is...


Gold is the ultimate life insurance policy

If you hold a few ounces of physical gold in your portfolio, if ever there is a situation where you are forced to be geographically displaced, gold will always have a value in every country, let's say if there's a war and you have to move to
another country, you can take your krugers and use them to help you get established

in the war/disaster situation, let's say there's no electricity, or somehow the blockchain breaks, how are you going to prove that you have pockets full of digital currency ?

And let's be sure, in the disaster situation the gold price will explode

Anyway, contrary to what our newbies think, there are no haters here and we wish you the best of luck and all the success in the world

Milan.

Since most FIAT currency is held on a ledger in a bank, you could have left the word digital out and you'd be right.

[ChimpMaster]

Followed by 'China to suspend bitcoin exchange close' in two weeks

Why wait until September end?

It was always coming, ever since the last announcement out of China.

The risk to coins now is that other countries follow suit - and that may not be as far fetched as it seems. At the very least we will see some seriously heavy regulation.

[scooterscot]

It was always coming, ever since the last announcement out of China.

The risk to coins now is that other countries follow suit - and that may not be as far fetched as it seems. At the very least we will see some seriously heavy regulation.

My money says countries will endorse. What else can they do? It is akin to curbing globalisation with common tax rules.

Already peer-to-peer exchanges exist. They'll catch on in China soon enough. The like of Ripple and Stellar will take off as will other currencies that specialise in micro-payments when p-2-p exchanges become the norm.

[scooterscot]

Weekend showdown - China versus JP Morgan Chase fighting for control of bitcoin.

Both of them are loading up on lower prices. Mark me words.

[milanbenes]

Since most FIAT currency is held on a ledger in a bank, you could have left the word digital out and you'd be right.

yes you are right and that's why gold is the ultimate life insurance policy

Milan.

[milanbenes]

Weekend showdown - China versus JP Morgan Chase fighting for control of bitcoin.

Both of them are loading up on lower prices. Mark me words.

fur feck's sake Scooter, they're not fighting to control BitCoin, they're going to kill it and create their own creature from Jekyll island bitcoin

Milan.

[scooterscot]

ja yah you may be onto something...

Just bought £k's worth of Stellar there. 40% discount on the last 7 days.