Tuesday, 26 September, 2017

Bitcoin value plummets over Chinese trading ban rumors

Bitcoin 4H Bitcoin 4H
Kelvin Reese | 12 September, 2017, 00:42

At one point in time, China's influence on the cryptocurrency was dominant, having accounted for as much as 90pc of trading activity, but this has since diversified globally.

Zhou Shuoji, a founding partner of FBG Capital, which invests in cryptocurrencies, addressed China's ban on cryptocurrency exchanges by stating, "Trading volume would definitely shrink". The notice was issued in public interest to caution investors against certain matters related to ICOs in the wake of the "rapid rise of projects which raise funds in the name of ICO (Initial Coin Offerings), upsetting social and economic order and creating relatively large potential risks". The country makes up 23% of Bitcoin trades and interestingly some of the world's biggest Bitcoin Miners are from China.

Bloomberg has reported that according to insiders, the ban will only apply to trading of cryptocurrencies on exchanges while there don't seem to be an urgency is stopping over-the-counter transactions. "Old users will definitely still trade, but the entry threshold for new users is now very high".

If you were wondering why the price of Bitcoin dropped faster than Ronaldo when he gets looked at by opposing defenders, turn your attention towards China.

Newcastle Player Ratings v Swansea: Jamaal Lascelles man of the match
Swansea were not let off the hook, and Lascelles rose majestically to head home from close range in the 76th minute. Rafa Benitez wasn't at the Liberty Stadium this afternoon - he's at home recovering from an operation.

Norwegian Lets Cruisers Hop Off in Miami or Outrun Irma on Board
Private Advisor Group Llc increased Vanguard World Fds (VDE) stake by 13,589 shares to 33,615 valued at $3.50 million in 2016Q4. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company.

Reborn TVR unveils first new auto
Those figures are thanks to a 5.0, naturally aspirated, Cosworth-enhanced V8, mated to an ever-desirable six-speed manual gearbox. Built according to Gordon Murray's iStream production methods, this approach claims to slash costs and help speed of development.

China is the world's biggest cryptocurrency market, hence the ban on cryptocurrency exchanges and ICOs comes as a shock. Bitcoin has jumped about 600 percent in dollar terms over the past year, part of a broad surge in virtual currencies that has fueled concerns of a bubble.

"There has been a general tightening of the screws on regulating financial and monetary conditions", said Mr Mark McFarland, chief economist at Union Bancaire Privee. The central government's office overseeing internet financial risks has ordered local authorities to shut down virtual exchanges trading digital currencies with the yuan, a source close to the office told Caixin.

According to the The Wall Street Journal, bitcoin exchanges are now being clamped down on, with no trading to be done within Chinese borders. Buying Bitcoin was a way to bypass those rules.

Recommended

Hurricanes Irma and Jose as seen from the International Space Station Hurricanes Irma and Jose as seen from the International Space Station Isolated maximum amounts of 25 inches are possible in northern Veracruz, eastern Hidalgo, Puebla, and San Luis Potosi. The centre said Irma made landfall there and has maximum sustained winds of 257 km/h.

Trump says will discuss military issues, Qatar with Kuwait's emir Trump says will discuss military issues, Qatar with Kuwait's emir The U.S. president said he appreciated Kuwait's role as a mediator "very much", but said he, too, would be "willing to be the mediator".

Multiple Supply Choke Points To Blame For Switch Stock Situation, Says Nintendo Multiple Supply Choke Points To Blame For Switch Stock Situation, Says Nintendo Nintendo has urged fans, desperate to pick up a SNES Classic Mini, not to pay over the asking price on the secondary market . But Fils-Aimé says that those issues were "outside our control", implicitly moving the blame to the retailers.

Kylian Mbappe's Childhood Idol Is A Footballing God Kylian Mbappe's Childhood Idol Is A Footballing God And a young, well, younger Mbappe has said he idolised a PSG hero: "When I was younger, Ronaldinho was my idol", via ESPN . If Friday's match is any indication then there is another troika developing - CMN (Cavani, Mbappe and Neymar ).

Panic time: David Johnson fantasy owners react to wrist injury Panic time: David Johnson fantasy owners react to wrist injury Stafford's pick came two plays after Cardinals quarterback Carson Palmer threw an equally ugly interception. Back-up Dwayne Washington was slightly more successful, gaining 22 rushing yards on just six attempts.

Rams All-Pro Tackle Aaron Donald Abruptly Ends His Holdout Rams All-Pro Tackle Aaron Donald Abruptly Ends His Holdout Donald has ended his holdout, showed up at the Rams' facility and took his physical according to ESPN's Adam Schefter . He was named 2014 AP Defensive Rookie of the year, and has been a Pro Bowl selection in each of his first three years.

CBS's Pauley Mourns With Hillary About Election Loss to Trump CBS's Pauley Mourns With Hillary About Election Loss to Trump Clinton added that she failed to draft a concessions speech the night of the election and still felt awful about losing. The last presidential candidate in her shoes was Al Gore-a fellow victor of the popular vote and loser of the election.

Hurricane Irma Sucks Water Away From Bahamas Beach In Shocking Video Hurricane Irma Sucks Water Away From Bahamas Beach In Shocking Video It happened in the Bahamas on Friday and Saturday, and now it's happening on the Gulf Coast of Florida on Sunday. But not many people could predict what the storm did to the ocean surrounding a few small Bahamian islands.

Western Alberta unemployment rate up slightly from July Western Alberta unemployment rate up slightly from July The Bank of Canada noted earlier in the week that wage growth had been "more subdued" than historical trends have shown. The lowest unemployment rate was in Quebec City, Quebec at 3.8%, and the highest, in St.John's Newfoundland at 15.1%.

Night mode comes to Twitter on the web Night mode comes to Twitter on the web On iOS, all you need to do it Open the Twitter for iOS app - Tap your profile icon - Tap on the night mode icon. When you're ready to take things back to normal, you turn the mode off by doing literally the exact same thing.

At least a dozen deaths in Mexico's most powerful quake in years At least a dozen deaths in Mexico's most powerful quake in years It is bigger than the quake that struck Mexico in 1985, centered near the capital and resulting in around 10,000 deaths . Mr Pena Nieto said a million people had initially been left without power, but 800,000 had now had it restored.

Relief as Habib Bank episode ends Relief as Habib Bank episode ends The worst case scenario, according to a report from Arif Habib Ltd, is that the bank will pay no dividend in the next 12 months. According to a report, in terms of size, the penalty is nearly 30 per cent of bank's assets in the USA and the Middle East.

Son of Former Fox News Host Eric Bolling Found Dead Son of Former Fox News Host Eric Bolling Found Dead Fox News' Geraldo Rivera also tweeted his condolences , calling the news "horrible". "So very bad . It looks like being fired from Fox is not the most devastating piece of news Eric Bolling has got.

Manchester City vs Liverpool, how and where to watch Manchester City vs Liverpool, how and where to watch The France global told the club's official website: "That game against City was the most exciting match I've played in". The 44-year-old told Betsafe : "Last season he didn't bring in as many players as he would have wanted".

Amit Shah in Odisha to prepare for BJP's 'Mission 120' Amit Shah in Odisha to prepare for BJP's 'Mission 120' The meeting is assumed to be significant, as BJP got a boost after merger of all front liners of Trinamool Congress last months. He said the people associated closely with the government were involved in multi-crore chit fund and mining scams.