China bans banks from handling Bitcoin trade



What I took from it was that China doesn't want its banks in the bitcoin economy right now, its too volatile. They aren't banning bitcoin, they just don't want their countries financial future to be linked to it. I can't blame them at this point, the swings are wild. Private citizens and corporations are free to buy, trade, sell bitcoin however. People and corporations are allowed to accept bitcoin as payment (except banks).

They're just trying to contain it so that the whole country doesn't go belly up when/if this great experiment crashes.
 
You guys need to research a bit more before posting. The pboc said it was a digital commodity. They didnt ban it. It is still a hit to bitcoin, but we shall see what happens with it long term.
 
Hammi said:
You guys need to research a bit more before posting. The pboc said it was a digital commodity. They didnt ban it. It is still a hit to bitcoin, but we shall see what happens with it long term.
Click to expand...

It's the same as trading in any other industry. Panic first, research later.
 
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