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Bitcoin News Feed [07 Jan 2017] - Phase I by arnob

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· @arnob ·
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Bitcoin News Feed [07 Jan 2017] - Phase I
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<h1>China to Restrict Bitcoin Marketing, But Blockchain Firms Unaffected</h1>
<p><img src="https://media.coindesk.com/uploads/2017/01/china-building-728x485.jpg" width="728" height="485"/></p>
<p>&nbsp;Just hours after it was first revealed that the People's Bank of &nbsp;China (PBoC) had held closed-door meetings with domestic bitcoin &nbsp;exchanges, new details are emerging about the conversations. According to a new report by <a href="http://m.finance.caixin.com/m/2017-01-07/101041525.html"><em>Caixin</em></a>, &nbsp;the PBoC sought to restrict how the exchanges could seek to acquire &nbsp;potential new users, with the central bank indicating that the startups &nbsp;aren't able to mention the depreciation of the yuan in connection with &nbsp;marketing or otherwise promote their services offline. ...... <a href="http://www.coindesk.com/chinas-central-bank-restrict-bitcoin-marketing-blockchain/">[Read Full News]</a></p>
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<h1>2013 to 2017: Comparing Bitcoin's Biggest Price Rallies</h1>
<p><img src="https://media.coindesk.com/uploads/2017/01/Candle-728x488.jpg" width="728" height="488"/></p>
<p>&nbsp;For bitcoin's investors, traders and enthusiasts, an answer to this &nbsp;question might be&nbsp;harder to give today&nbsp;than you might imagine. Bitcoin prices surged above the $1,100 mark this week (near all-time &nbsp;highs) only to sink back down to earth amid higher volatility and &nbsp;foreboding – <a href="http://www.coindesk.com/chinas-central-bank-issues-warnings-major-bitcoin-exchanges/">if not unclear</a> &nbsp;– news out of China. Taken together, the developments evoke memories of &nbsp;2013, when the price of bitcoin surged to similar levels, bringing the &nbsp;digital currency to international attention. ...... <a href="http://www.coindesk.com/2013-today-comparing-bitcoins-biggest-rallies/">[Read Full News]</a></p>
<p>&nbsp;</p>
<h1>Report: Chinese Regulators Exploring Bitcoin Connection to Capital Flight</h1>
<p><img src="https://media.coindesk.com/uploads/2016/09/china-flags-300x185.jpg" width="300" height="185"/></p>
<p>&nbsp;Though details are currently scarce, Chinese regulators are &nbsp;reportedly looking into the use of bitcoin to avoid capital controls. According to <a href="http://finance.qq.com/a/20170106/035118.htm"><em>Tencent Finance</em></a>, &nbsp;the State Administration of Foreign Exchange (SAFE) is exploring&nbsp;how &nbsp;bitcoin can be used to circumvent capital flight. The news website cited &nbsp;unnamed sources close to regulators, and Tencent’s report was later &nbsp;cited by <a href="http://pastebin.com/jhnEzdbF"><em>Bloomberg</em></a>. .... <a href="http://www.coindesk.com/report-chinese-regulators-exploring-bitcoin-connection-capital-flight/">[Read Full News]</a></p>
<p>&nbsp;</p>
<h1>Bitcoin Exchange BTCC Responds to Chinese Central Bank Statements</h1>
<p><img src="https://media.coindesk.com/uploads/2016/10/btcc-bitcoin-300x185.jpg" width="300" height="185"/></p>
<p>&nbsp;China-based bitcoin exchange BTCC has publicly commented on statements issued by the country’s central bank. The People’s Bank of China (PBoC)&nbsp;<a href="http://www.coindesk.com/chinas-central-bank-issues-warnings-major-bitcoin-exchanges/">released twin statements</a>&nbsp;this &nbsp;morning, outlining that it had met this week with representatives from &nbsp;BTCC, as well as Huobi and OKCoin – exchanges which host the majority of &nbsp;global bitcoin trading today – and warned them about remaining in &nbsp;compliance with state laws and regulations. .... <a href="http://www.coindesk.com/bitcoin-exchange-btcc-responds-chinese-central-bank-statements/">[Read Full News]</a></p>
<p>&nbsp;</p>
<h2>All Eyes on Beijing as Bitcoin Investors Anxious for Stability</h2>
<p><img src="http://bitcoinist.com/wp-content/uploads/2014/05/cbd-beijing.jpg" width="570" height="400"/></p>
<p>&nbsp;<strong>Speculation is growing that Beijing is behind Bitcoin’s &nbsp;sudden $300 drop Thursday, as an uptick in yuan/ dollar value causes a &nbsp;bubble to burst.</strong>&nbsp;</p>
<p>&nbsp;“The Chinese government’s policy is an important factor,” Joseph&nbsp;Yang, a &nbsp;finance worker who owns about $2 million of bitcoins, told Bloomberg &nbsp;Friday. “There may be room for further gains in price, but there’ll be a &nbsp;big pullback soon. It’s hard to sustain such a rapid rise for a long &nbsp;time.” ... <a href="http://bitcoinist.com/beijing-bitcoin-investors-anxious/">[Read Full News]</a></p>
<p>&nbsp;</p>
<h2>Pop? Bitcoin Drops $300 In Hours as Bubble Fears Emerge</h2>
<p><img src="http://bitcoinist.com/wp-content/uploads/2017/01/BitcoinAverage-historicalchart-Thu-Jan-05-2017-18-57-18-GMT0300-MSK.png" width="948" height="480"/></p>
<p>&nbsp;<strong>The price of Bitcoin has dropped from today’s earlier almost &nbsp;$1,200 high to under $940 – a comedown of $300 in a matter of hours.</strong>&nbsp;</p>
<p>&nbsp;The current <a href="https://coinmarketcap.com/currencies/bitcoin/#charts">press-time price</a> &nbsp;of $987 per coin on Coinmarketcap represents a similar move to that &nbsp;which propelled Bitcoin above $1,000 from its mid-800s level two weeks &nbsp;ago. If the current price holds, Bitcoin will have still corrected upwards overall. &nbsp;.... <a href="http://bitcoinist.com/pop-bitcoin-drops-300-hours-bubble/">[Read Full News]</a></p>
<p>&nbsp;</p>
<h1>How the People’s Bank of China Denied Bitcoin’s ATH</h1>
<p><img src="http://themerkle.com/wp-content/uploads/2017/01/pboc-denies-bitcoin-ath.jpg" width="1000" height="665"/></p>
<p>&nbsp;<strong>The latest Bitcoin rally which started in August of 2016 has &nbsp;been single-handedly crushed by a government backed financial &nbsp;institution, what a surprise right?</strong> After the 6 month rally Bitcoin approached its ATH which is currently &nbsp;$1163 (Bitstamp). The price peaked at $1139, just $24 shy from breaking &nbsp;the record when the PBOC decided to issue a “warning” regarding the &nbsp;cryptocurrency. ..... <a href="http://themerkle.com/how-the-peoples-bank-of-china-denied-bitcoins-ath/">[Read Full News]</a></p>
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@endlessknot ·
A few days ago the Financial Times, MIT and other organizations were putting out releases about how Bitcoin's rise is meaningless primarily because the market cap when compared to all financial transactions and instruments is a "rounding error." Ergo, nobody should care about Bitcoin. If that's really the case, then why the warning's and pronouncements from the PBOC and other central banks? They really ought not care if there's nothing to see here.
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@screenname ·
Re: Bitcoin News Feed [07 Jan 2017] - Phase I
<p>This post has been ranked within the top 80 most undervalued posts in the first half of Jan 07. We estimate that this post is undervalued by $3.23 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-jan-07---part-i">The Daily Tribune: Jan 07 - Part I</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>
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