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A comment on Bitcoin Tumbles as PBOC Declares Initial Coin Offerings Illegal. Parent comment

Re:Bitcoin Tumbles as PBOC Declares Initial Coin Offerings I... by ortusdux on Monday September 04, 2017 @06:46PM (#15171301)
This article from Business Insider has a better explanation.

http://www.businessinsider.com/initial-coin-offering-china-b...

Namely:

"However, the wording of the PBoC edict also suggested that trading and usage of all cryptocurrencies, including bitcoin, could now be illegal in China.

The PBoC said that virtual currencies that are "not issued by the monetary authorities... do not have legal status equivalent to money, and can not and should not be circulated as a currency in the market use."

The PBoC added that "any so-called tokens financing trading platform shall not engage in the exchange of legal currency and tokens." It even goes so far as to ban platforms from "provid[ing] pricing, information, [and] intermediary services.""

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Re:Bitcoin Tumbles as PBOC Declares Initial Coin Offerings I... by Nursie on Tuesday September 05, 2017 @03:22AM (#15173133)
Now that is interesting, and potentially much farther reaching than the headlines have suggested
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Re:Bitcoin Tumbles as PBOC Declares Initial Coin Offerings I... by WhiteOwlLion on Tuesday September 05, 2017 @12:14PM (#15176591)
What does mean for AntMiner and people that sell the hardware for hashing power? SHA256 & scrypt hashers can't take cryptocurrency they are trying to mine with it? Not the end of the world, but ironic nonetheless.
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