http://www.coindesk.com/chinas-centr...oin-exchanges/

Not that any of this is necessarily true about the high price scaring them, but if it was... are they also scared if BTC had been splitting along the way? Or say it was programmed to split as price rised making it never go over $100 or whatever. Would that maybe keep governments less weary of it?

Holy smokes every dip is bought up in a flash lately.

Also, on a side note. If a bitcoin ETF is approved some day, doesn't that open it up for an ETF for every crypto under the sun? At least the bigger ones anyway.

There's already a filing for an ethereum etf

China suspends BTC and LTC withdrawals for ~1 month while the exchanges upgrade anti money laundering systems.

https://twitter.com/cnLedger/status/829680780083286016

So where is everyone this morning defending Chinese govt? As no threat to bitcoin? They will nerf the exchanges into the ground and then you all can figure out who they will come after next. They will invent a govt agency if the have to.

Keep that bu node spinning housenuts, you'll soon be bearing the weight of 20000x connections.

Holy **** china banned bitcoin again!

As far as being a threat, they are only a threat to temporarily negatively impact the price of BTC. They can crash the price but they can't crash bitcoin. Would just be an opportunity to pick up coins on the low!

If they shut down miners, profitability goes up and someone else will gladly take their place.

PBoC still allowing BTCC to withdraw Bitcoins and have not suspended trading or fiat withdrawals on any exchanges. People are overreacting.

You'd be damn rich if you loaded up everytime china did something "bad". Honestly I'm surprised it hasn't gone down more. I think people are learning not to fall in to the panic sell mode. When I first got into BTC at $20 it happened to me a few times before I learned. It may also be because there is less speculative money in the price as China has already taken away margin trading.

BTCC just suspended BTC and LTC withdrawals for 72 hours.

BTC withdrawals are now suspended on all three major exchanges in China. Now things have gotten interesting

The fact that they haven't restricted people from selling them and withdrawing fiat at least rules out insolvency. If they lock up fiat withdrawals also, then it would get interesting. I'll be adding to my position like usual!

not running it. also not too phased by this. if anything less china = > likelihood sec approves etf.

http://www.coindesk.com/winklevoss-b...f-100-million/

Guessing the increase in USD is due to the increase in price in BTC. However, what a **** show it is how they need to add all the **** about which chain they will follow and yadda yadda yadda. There's just so many variables, that I would be really shocked if it gets approved. Would they let people redeem their BTC sidechain coins when they start trading on exchanges? Coinbase didn't with ETH, so they could basically just sell them and profit.

I just don't think it's ready.

It's trading at 33% likelihood on BitMEX

I think they would sell the minority chain and re-invest it for everyone pro-rata on the majority chain. At the end of the day, if you imagine BTC is worth $1000 and then it splits into 2 chains valued at $800 and $200, you sell the the $200 chain and buy into the $800 chain and you're left with the same value you had before the split.

Obviously that's in an ideal circumstance, but I imagine in the case of a contentious fork the total value would drop below the original 1 chain price.

Then what happens if everything flipped a month later. Like if ETC took over ETH. I'm sure investors would be more then furious.

I agree. Their provisions aren't even well worded. Wait 48 hours for majority fork by hashing difficulty, but can do something else if in good faith they believe it to be proper.

1- coin ETF is now 0.01btc/share; hence 100m$ valuation issue. Nothing changed from last filing in that regard besides more shares per btc, they are still issuing same amount of total btc. what changed is that they uploaded corporate structure agreements and some legalese wrt to conflicts of interest. and other random rewordings.

2- the worst case scenario isnt that china just bans mining. that will probably never happen. But without an ETF, china could easily go in and just demand that chinese miners and/or chinese nodes run certain code with a gun to their heads because they are an oppressive govt. that risk is absolutely tangible once you realize how bitcoin subverts communism and specifically nationalized currencies

3- BU is an existential threat because it is supported by chinese miners who have no clue what they are doing. But if they did have a clue, its not for the betterment of the network or industry. It's to appease their overlords or to line thier own pockets over yours. BU sucks dick, stop supporting that bull****. Greg maxwell is a ******ed neckbearded fat **** weirdo but atleast we know for certain that he isnt out to hand over bitcoin to a govt.

4- if a hf happens, whether contentious or not, 0% chance trustee sells original chains' coins. That doesnt seem legal to me whther or not its worth 0.000001$ or 1,0000$



to everyone else:

STOP USING DESKTOP WALLETS.

use copay on your phone. it calculates the right fee for you 99.99999999% of the time. Once you understand the network better, you can save a couple bits here and there using electrum. It is also much more difficult to intercept your pw/seed when using android/ios over w10/osx.

I like it

Btw where are you from aggo

I'm genuinely surprised spot price isn't much lower after the PBoC news. I don't think the market dipped >10% since the announcement. I guess most people still holding after the January crash weren't going to be fooled twice.

It was three exchanges that got some directives that they need some stronger AML/KYC and decided to halt withdrawals in Bitcoins until they have fulfilled the requirements. They estimate that doing this will take 3-30days. After that it should be back to normal, might even lower the risk of China banning Bitcoins. 10% seems about right to me.

The PBoC also said that failure to implement new protocols may result in the shutdown of these exchanges. Also, the suspension includes the 3 biggest exchanges, and given how shady/unregulated these exchanges are, I would assume many customers would want to get their money out before it's possibly too late.

So you think if there was an ETH etf in the summer they sell all the ETH and keep the ETC chain? I don't. That would not have worked out well for the investors.

Not to mention the 3 or 4 following non-contentious forks to improve the system.

Read their 'if the chain forks' terms.

From https://www.sec.gov/Archives/edgar/d...4708-index.htm

Also lol Shillbert
https://www.sec.gov/comments/sr-nyse...475-131737.htm

No they don't sell any chains' coin. I don't think that would be legal under sec rules. They would've tracked ETH after 48 hours and allowed you to redeem eth. Then there would've been a lawsuit presumably that those who redeemed eth are also entitled to ETC.

Point being, the etf wouldn't sell their etc under any scenario

why not, when those are the known terms to investors when deciding to enter into the etf?

with typical etfs, they track indexes. if an index changes it's holdings, so then will the etf. that is legal under sec rules.

why can't a bitcoin/eth etf change it's holdings based on a change of the 'index' (the bitcoin chain, or ethereum chain)