Drudge Retort: The Other Side of the News
Monday, September 11, 2017

Chinese authorities are ordering domestic bitcoin exchanges to shut down, delivering a heavy blow to once-thriving trading hubs that helped popularize the virtual currency pushing it to recent record highs. China's central bank, working with other regulators, has drafted instructions banning Chinese platforms from providing virtual currency trading services,

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Interesting... nevertheless, for those who actually used bitcoin in China, I have the understanding that one could use it in person-to-person transactions.

#1 | Posted by GOnoles92 at 2017-09-11 09:26 PM | Reply

The shutting of the virtual exchanges will be a big blow, without a doubt, as a significant portion of mining occurs in China.

#2 | Posted by GOnoles92 at 2017-09-11 09:27 PM | Reply

How will ransom thieves conduct their busines? I am not upset in the slightest about this, every nation should do the same thing.

#3 | Posted by danni at 2017-09-12 09:21 AM | Reply

You can't be serious, every new technology can be used for good or bad. I guess you would rather continue to be a slave to the banks. China is only shooting itself in the foot with this draconian policy. Just like drugs the market will be forced to go underground. Yeah there will still be over the counter person-to-person transfers but that's only for the rich, minimum 100 bitcoins.

This your chance to become rich and you are just letting it blow right past. A few years ago Bitcoin was 50 cent a coin and now its $4,500. There are 100,s of other coins making even better gains. Educate your selfs, do a youtube search unless you love working a 9-5. I'm making OVER 360% gains on bitconnect 1% a day. Use this my link and Ill help you bitconnect.co

Bitcoin cannot be stopped

#4 | Posted by Detroit at 2017-09-12 09:45 AM | Reply | Funny: 1 | Newsworthy 2

#4 | POSTED BY DETROIT

^^ yup.

#5 | Posted by klifferd at 2017-09-12 09:54 AM | Reply

Bitcoin cannot be stopped #4 | POSTED BY DETROIT

Amen. Don't mind danni, she's a bit of a Luddite.

#6 | Posted by GOnoles92 at 2017-09-12 10:39 AM | Reply

China doesn't need it anyway. More and more Chinese are doing private transactions and bartering via WeChat (Chinese: Wei Xin).

#7 | Posted by e1g1 at 2017-09-12 11:55 AM | Reply

#4;

blockchain can't be stopped. Bitcoin will succumb to another currency or die with a hard fork disagreement.

Either way, cryptocurrencies don't care when centralized governments ban them. That's the point.

#8 | Posted by IndianaJones at 2017-09-12 04:37 PM | Reply

#4 | POSTED BY DETROIT

5 years ago, a bitcoin equated to fractions of a penny.

#9 | Posted by rstybeach11 at 2017-09-12 10:14 PM | Reply

The best cryptocurrency is called the tulip. You can't lose, they went from pennies to the price of a house and more.

#10 | Posted by bored at 2017-09-12 10:33 PM | Reply

The miners I know have shifted to XMR awhile back and are sticking with it for the time being.

#11 | Posted by sitzkrieg at 2017-09-13 10:36 AM | Reply

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