An official denial of the rumor by the PBoC (should that happen) [...]
Hmm they had time to do that on Friday. Bitcoin is bad news for China, at least potentially. I think it's very believable they will try to get rid.
Excuse me for interrupting the pecker measuring contest but could someone do me a favour and just sanity check something for me.
How many coins are for sale on Huobi right now?
https://www.huobi.com/trade/index.php?a=depthBig sell at 2910
They officially denied a rumor a week earlier. I'm sure they think they have better things to do than deny every rumor that comes along. They had time to confirm on Frday also and they didn't do that.
Maybe but note that that this 'rumour' was in Chinese news, and also that rumour-spreading online is illegal in China. You wouldn't expect them to deny every online rumour by Tom Dick & Harry but when it's published in the news there is much more reason to consider making a statement, no?
For negative stuff isn't it sell on rumours buy on news?
I think this is true for positive stuff too la!
Also 50000 CNY is almost 6 grand in € which is not much to some of us western middle class spoiled people but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government.
It's not the Chinese working class who are buying BItcoin. Its the Chinese rich (maybe with questionable sources) who have much more money than the European middle class. Hence why the biggest property owners in cities like London are.... Chinese private investors. You're living in the dark ages. Chinese people have money and they want to burn it. Many have a LOT of money to burn.
See all the visa schemes aimed at Chinese, where they can buy a passport for places like Australia or Canada if they can spare maybe a few hundred thousand dollars? Yeh, they're over-run and Canada had to decline everyone because so many Chinese have that much cash sitting around. It's totally absurd to even mention the Chinese workers.
Also 50000 CNY is almost 6 grand in € which is not much to some of us western middle class spoiled people but it is a lot to small Chinese worker class that is desperate for investing into stores of value that are not debased/stolen by their own government.
It's not the Chinese working class who are buying BItcoin. Its the Chinese rich (maybe with questionable sources) who have much more money than the European middle class. Hence why the biggest property owners in cities like London are.... Chinese private investors. You're living in the dark ages. Chinese people have money and they want to burn it. Many have a LOT of money to burn.
See all the visa schemes aimed at Chinese, where they can buy a passport for places like Australia or Canada if they can spare maybe a few hundred thousand dollars? Yeh, they're over-run and Canada had to decline everyone because so many Chinese have that much cash sitting around. It's totally absurd to even mention the Chinese workers.
I always thought it was the Russian mob that owned most of the expensive properties in London, not Chinese investors.
Well, I meant London property portfolio of highest value rather than highest individual asset in the portfolio. I know RBoK&C is packed with Russians, but SCMP reports the two individuals who own the most (by £) in London are now Chinese (they knocked some Duke or something off #1). In any case they have too much money and don't know what to do with it. They come to Hongkong to buy high street gold jewelry as an investment..