11–20 of 21 posts
Can someone explain the true story behind Bitcoin and the price? I can't help but shake the feeling that someone is playing an exquisitely long game.
(wherein Bitcoin's recapitulation of the history of finance gets to quantitative easing)
Apparently top tweet from ViaBTC confirms https://twitter.com/viabtc?lang=en
The Caixin report's Google translation seems to suggest it's just ICOs, though ...
Can someone explain the true story behind Bitcoin and the price? I can't help but shake the feeling that someone is playing an exquisitely long game.
China has export controls to prevent USD from fleeing the country and weakening RMB. Instead, people buy mining equipment and export their wealth as Bitcoin.
Many of the institutions within the cryptocurrency world are also transparent money-laundering schemes. For example Nicehash is a system that lets people "earn money mining cryptocurrency" by "renting their hardware to bidders", but from a high-level perspective this is essentially miners getting paid in dirty money and giving bidders "clean" coins generated on their hardware.
The darknet drug trade needs no explanation, of course.
I tend to think the darknet trade would be sustainable on its own (at a much lower price), but the capital flight is where most of the runup is coming from. They're moving it to real-estate in places like BC and Australia.
Apparently top tweet from ViaBTC confirms https://twitter.com/viabtc?lang=en
If it does, you need to link the tweet, 'cos I see nothing there that says that. The Caixin report's Google translation seems to suggest it's just ICOs, though ...
was retweeted by ViaBTC, but then un-re-tweeted I guess
Can someone explain the true story behind Bitcoin and the price? I can't help but shake the feeling that someone is playing an exquisitely long game.
Money laundering and drug trade. China has export controls to prevent USD from fleeing the country and weakening RMB. Instead, people buy mining equipment and export their wealth as Bitcoin. Many of the institutions within the cryptocurrency world are also transparent money-laundering schemes. For example Nicehash is a system that lets people "earn money mining cryptocurrency" by "renting their hardware to bidders",…
It's objectively better than gold for this - more secure, easier to transfer, and guaranteed to be deflationary.
any news about btcc.com's fate? the main exchanges in china are btcc, okcoin, and huobi
Earlier quoted context omitted.
OK, we've changed the URL to that last one from https://wallstreetcn.com/articles/3029742 . If someone suggests a better URL, we can change it again. Submitters: although we have deep respect for other languages, HN is an English-language site.
there's got to be a better site for anything than Zero Hedge, that alone will bury this.
Earlier quoted context omitted.
there's got to be a better site for anything than Zero Hedge, that alone will bury this.
If there isn't a better link, it's likely a bogus (a.k.a. exaggerated) story.
Dodgy rumour on QQ: https://mp.weixin.qq.com/s/2YfePTC0sGsFjHvf-HUqqA
Effect on price (screenshot from Coindesk this afternoon): https://davidgerard.co.uk/blockchain/wp-content/uploads/2017...
Nothing to see here :-)
