Tag: china

How to start investing in a bear market: short guide

January has been a harsh month for cryptocurrencies. Just looking at the market cap, we can see a deep correction from those December highs. The market shrunk from $850 billion to the current $510 billion. For many investors this is the first correction witnessed and, naturally, they are clueless and scared. No, the cryptocurrency market is not dying. Yes, this a perfectly natural process that happens several times per year. The bigger question, however, is how to behave in this bearish market and multiply your investments. Reasons for the bear market There is no single big upsetting event that...

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Alibaba denies rumours of launching mining platform

Yesterday, news surfaced that Alibaba has launched its own cryptocurrency mining platform. CnLedger reported that virtual currency mining platform “P2P Nodes” will be incorporated in the company’s ecommerce platform. Tencent News: Alibaba launching virtual currency mining platform "P2P Nodes", registered in Nanjing. May incorporate with e-commerce platform in future. (Unconfirmed)https://t.co/w0ZzgKk773 — cnLedger (@cnLedger) January 16, 2018 Rumours denied Today Alibaba clarified on their Weibo (Chinese Twitter) that they will not be creating virtual currencies and engaging in mining. Their website P2P Nodes is no longer online. Alibaba clarified on Weibo (Chinese Twitter) they will not create virtual currencies, and...

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What’s next with China?

The latest date when Chinese exchanges have to stop their activity is on October 31st. There’s many contradictory information from the Far East about the future of exchanging cryptocurrencies to Chinese Yuan. It’s worth to think about potential solutions that await this region. Chinese refugees Last month in China went under the sign of major cryptocurrency exchanges withdrawal from the market. BTCChina, in order to incentivize users to withdraw their funds quicker, has decided to gradually increase fees for money withdrawal. All because the exchange wanted users to get rid of their wallets contents as quickly as possible. After 31st...

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Will China accept Bitcoin again?

Undoubtedly, Chinese officials find it hard to accept Bitcoin and cryptocurrencies. There is no need to remind how drastic were the ICO and cryptocurrency exchange bans. We all remember how Bitcoin dropped from almost $5000 to $3100 as a result of Chinese regulations. Conservatives vs. Progressives However, there is still a chance that China will accept Bitcoin again. The most important Chinese political event is coming up on 18th of October: 19th National Congress of the Communist Party of China. The congress is held every five years, and during the event, party members elect new top officials. Currently, the...

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Bitcoin called “a disaster” at a conference in China

On October 12th in Beijing, the First Workshop on Standards for Digital Fiat Currency (DFC) for Universal Finance Access was held. It was organised by the International Telecommunication Union and the Institute of World Economics and Politics at the Chinese Academy of Social Sciences. Whole event was backed by the Chinese government. Viewpoint of Chinese experts The Workshop gathered dozens of scholars and entrepreneurs from over 40 countries. The main topic was the future of digital currencies, especially challenges ahead their legal regulations. Many Chinese experts, despite not recognizing decentralized Bitcoin, are interested in issuing national cryptocurrencies. The important...

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