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Vice President Of The Central Bank Does Not Recognize The Legitimacy Of Bitcoin
"P" Yi Gang's position is behind the rapid development of China's bitcoin market in the past two weeks. From the data of China's largest three bitcoin trading platform BTC China, okcoin and Huo Wu net, the average daily trading volume of bitcoin on the first 20 days of November has increased two times compared with the same period last month. < /p >
P, November 19th, Bernanke, chairman of the Federal Reserve, sent a letter to the US Senate Committee on homeland security and government affairs, saying that the Fed had no direct authority to supervise the virtual currency. It believed that bitcoin and other virtual currencies "may have a long-term future" and affirmed the "cautious blessing" attitude. Affected by that, the bitcoin value once exceeded 8000 yuan on that day. < /p >
When p entered into November, the bitcoin value began to change drastically. In November 1st, the buying price of bitcoin bought by the major trading platforms was about 1 bitcoin 1250 yuan, while 10 this figure climbed to 2000 yuan. More exaggerated is, 18, 19 days two days, bitcoin currency value from 3000 yuan began to rise continuously, and reached the highest point 8000 yuan on 19 days after the rapid fall, the day reported to close at 5200 yuan. 20 bitcoin continued to decline, as of press release, its currency basically stabilized at around 4300 yuan. < /p >
< p > < < a href= > http://sjfzxm.com/news/index_cj.as > bitcoin > /a > currency value rapid rise and fall at the same time, the trading volume of each trading platform has also increased sharply. BTC, the largest trading platform in China, has an average daily trading volume of 18474.2 bitcoins in October, compared with 56273.3 on the first 20 days of November, up 204.6% over the same period last year. 18, 19, 20 days three days, the platform daily average volume of spanactions amounted to 96373.2 bitcoins, of which 19 is the same day, breaking the 100 thousand mark. < /p >
< p > in addition, the growth rate of okcoin and fire net in second, third place is even more alarming. The average daily trading volume of okcoin and the fire money online is only 6036.84 and 4943.16 bitcoins respectively, the two figures increased to 30645 and 33699.7 this month, the growth rates were 407.6% and 581.7% respectively, and the trading volume of two platforms on the 19 day also broke through 60 thousand bitcoins. < /p >
< p > according to the data released by the top 10 trading platforms in China, the total trading volume of bitcoin market in China on the 19 day is about 250 thousand bitcoins, even if it is calculated according to the value of 5200 yuan of the closing price of the day, the spanaction volume also exceeds 1 billion 300 million on that day. < /p >
< p > reporters also learned that after the bitcoin began to decline from the peak of 8000 yuan, the situation of centralized cash withdrawals appeared in all platforms. < a > investment < /a > showed a certain wait-and-see attitude. Take the fire money net as an example, the 19 day platform has more than 30 million yuan, and 20 or 21 days are about 40 million yuan. < /p >
< p > refers to Yi Gang's statement on bitcoin. Many platforms have told reporters that it is good news for investors. CEO, a former platform, believes that the PBC does not recognize the legal status of bitcoin, but Yi Gang says bitcoin is the freedom of Internet spanactions and will not interfere directly. It shows that the development of bitcoin in China has been acquiesced by regulatory authorities. < /p >
< p > on the other hand, Bernanke's statement has also presented similar opinions. Bernanke mentioned that the fed only has the right to manage the entity money products issued, liquidated or distributed, and supervise the banking institutions, but has no direct supervision over the virtual currency. Therefore, the US Federal Reserve has not yet formulated a regulatory plan for the comparison of special currencies, and it should provide relatively free markets for them. But one day it may be able to "promote a faster, safer and more effective payment system". < /p >
< p > but the platform CEO said that for the trading platform, < a > Central Bank "/a" will not supervise bitcoin in the near future. Because the threshold of bitcoin trading platform is relatively low, as long as the website is introduced into the third party payment, the spanaction can be realized. At present, no specific regulatory body is involved. With the heat of bitcoin, there will be a large number of competitors. More importantly, because bitcoin is a virtual currency based on market confidence, once the phenomenon of bad trading platform "running away" occurs, it will cause great damage to the value of the currency and destroy the order of the whole market. < /p >
< p > he further explained that apart from the trading platform, some downstream industries based on bitcoin have also been derived, such as bitcoin gambling, which have actually exceeded the scope of financial supervision, but the risks to participants are enormous. In fact, the pages of BTC China's market analysis are advertised with bitcoin gambling websites. According to this website data, the player who has participated has betting more than 70 thousand bitcoins. < /p >
P, November 19th, Bernanke, chairman of the Federal Reserve, sent a letter to the US Senate Committee on homeland security and government affairs, saying that the Fed had no direct authority to supervise the virtual currency. It believed that bitcoin and other virtual currencies "may have a long-term future" and affirmed the "cautious blessing" attitude. Affected by that, the bitcoin value once exceeded 8000 yuan on that day. < /p >
When p entered into November, the bitcoin value began to change drastically. In November 1st, the buying price of bitcoin bought by the major trading platforms was about 1 bitcoin 1250 yuan, while 10 this figure climbed to 2000 yuan. More exaggerated is, 18, 19 days two days, bitcoin currency value from 3000 yuan began to rise continuously, and reached the highest point 8000 yuan on 19 days after the rapid fall, the day reported to close at 5200 yuan. 20 bitcoin continued to decline, as of press release, its currency basically stabilized at around 4300 yuan. < /p >
< p > < < a href= > http://sjfzxm.com/news/index_cj.as > bitcoin > /a > currency value rapid rise and fall at the same time, the trading volume of each trading platform has also increased sharply. BTC, the largest trading platform in China, has an average daily trading volume of 18474.2 bitcoins in October, compared with 56273.3 on the first 20 days of November, up 204.6% over the same period last year. 18, 19, 20 days three days, the platform daily average volume of spanactions amounted to 96373.2 bitcoins, of which 19 is the same day, breaking the 100 thousand mark. < /p >
< p > in addition, the growth rate of okcoin and fire net in second, third place is even more alarming. The average daily trading volume of okcoin and the fire money online is only 6036.84 and 4943.16 bitcoins respectively, the two figures increased to 30645 and 33699.7 this month, the growth rates were 407.6% and 581.7% respectively, and the trading volume of two platforms on the 19 day also broke through 60 thousand bitcoins. < /p >
< p > according to the data released by the top 10 trading platforms in China, the total trading volume of bitcoin market in China on the 19 day is about 250 thousand bitcoins, even if it is calculated according to the value of 5200 yuan of the closing price of the day, the spanaction volume also exceeds 1 billion 300 million on that day. < /p >
< p > reporters also learned that after the bitcoin began to decline from the peak of 8000 yuan, the situation of centralized cash withdrawals appeared in all platforms. < a > investment < /a > showed a certain wait-and-see attitude. Take the fire money net as an example, the 19 day platform has more than 30 million yuan, and 20 or 21 days are about 40 million yuan. < /p >
< p > refers to Yi Gang's statement on bitcoin. Many platforms have told reporters that it is good news for investors. CEO, a former platform, believes that the PBC does not recognize the legal status of bitcoin, but Yi Gang says bitcoin is the freedom of Internet spanactions and will not interfere directly. It shows that the development of bitcoin in China has been acquiesced by regulatory authorities. < /p >
< p > on the other hand, Bernanke's statement has also presented similar opinions. Bernanke mentioned that the fed only has the right to manage the entity money products issued, liquidated or distributed, and supervise the banking institutions, but has no direct supervision over the virtual currency. Therefore, the US Federal Reserve has not yet formulated a regulatory plan for the comparison of special currencies, and it should provide relatively free markets for them. But one day it may be able to "promote a faster, safer and more effective payment system". < /p >
< p > but the platform CEO said that for the trading platform, < a > Central Bank "/a" will not supervise bitcoin in the near future. Because the threshold of bitcoin trading platform is relatively low, as long as the website is introduced into the third party payment, the spanaction can be realized. At present, no specific regulatory body is involved. With the heat of bitcoin, there will be a large number of competitors. More importantly, because bitcoin is a virtual currency based on market confidence, once the phenomenon of bad trading platform "running away" occurs, it will cause great damage to the value of the currency and destroy the order of the whole market. < /p >
< p > he further explained that apart from the trading platform, some downstream industries based on bitcoin have also been derived, such as bitcoin gambling, which have actually exceeded the scope of financial supervision, but the risks to participants are enormous. In fact, the pages of BTC China's market analysis are advertised with bitcoin gambling websites. According to this website data, the player who has participated has betting more than 70 thousand bitcoins. < /p >
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