Dec 09, · Billionaire Ray Dalio reviewed Bitcoin, praised China, and explained his thoughts on the outlook for financial markets in a Reddit session. Here are his 10 best 24crypto.de: Shalini Nagarajan. Oct 18, · Red Pulse, a two-year-old Hong Kong-based market intelligence platform covering China's economy and capital markets, did an ICO on Oct. 8 and raised $15 million in less than 90 minutes, despite. Dec 20, · Chinese police have seized more than $ billion worth of crypto assets in its clampdown against the Plustoken Ponzi scheme. According to a .
Chinese bitcoin markets24crypto.de Markets | Price, Charts, News
China clearly sees value in blockchain technology and is aiming to be at the vanguard of its development. Delivering an immediate boost to the Chinese Bitcoin community and BTC's price as well , in October President XI Jinping issued a statement in support of blockchain technology research.
One blockchain developer whose family had urged him to quit after the rumblings and ICO ban in said that he was relieved to "no longer feel on tenterhooks when coding.
Not quite yet. According to Changelly's roundup of Bitcoin in China , "Bitcoin and other international decentralized cryptocurrencies are illegal to store and trade for individuals and any corporate entities. Many people decide to take the risk and use VPNs to bypass restrictions and utilize foreign exchanges.
Yet sometimes government intervention can have an opposite effect to the one desired. Mainland China's tightening of its grip on Hong Kong has caused many residents to turn to crypto in order to safeguard their money. Hong Kong residents are increasingly turning to Bitcoin and stablecoins in an effort to preserve their wealth in light of the newly imposed capital controls by Beijing.
While the lives of miners may be difficult, local exchanges are forced to comply with last-minute regulations, and individuals have to take into account the legal gray area in which they operate, there is undeniable interest and engagement with Bitcoin in China. Since , Bitcoin has provided an increasingly viable alternative to the fiat currency system, and as long as there that system continues to be suveilled and controlled by third-parties, there will be demand for decentralized alternatives.
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features. Electrum is a Bitcoin-only wallet that has been around since It's easy to use, but has advanced features.
In addition to the big players such as Binance, Huobi, and OKex, there are some smaller but still significant Chinese exchanges. Miners in China benefit from very low energy prices - partly due to an abundance of cheap but dirty coal - and the presence of many of the major mining pools, which help ensure steady income.
A relatively consistent cash flow helps miners budget for operating expenses, market fluctuations, and the inevitable hardware upgrades required every year or two to stay competitive.
This shows the importance of Bitcoin mining as a serious industry in China. This industry could not operate at such a scale without the blessing - tacit or official - of the CCP. There are concerns about one country controlling a majority portion of the Bitcoin hash rate. This centralization of mining power is antithetical to the ideology of Bitcoin.
If you're interested learning more about Bitcoin, mining including how to set up your own node, check out our guide here. For more on Bitcoin mining in China, we have a page outlining the history and future of the mining industry in China.
Plus Token was a Ponzi scheme that was marketed as a high-yield investing platform. Check out the inforgraphic below for a brief overview of the plustoken scam. First off, those who put money into Plus Token were generally people unfamiliar with the world of Bitcoin and cryptocurrency.
Moreover, rapid growth for investors has not been at all out of the ordinary in recent years in China. China has enjoyed an explosion of wealth creation in recent decades, so Chinese citizens used to quick capital growth and wealth accumulation are less sensitive to this type of Ponzi when they front as high-yield investments.
Plus Token advised users on how to purchase crypto that they could then deposit into the app. Users were paid for the "interest" on their deposits, and received their dividends in the form of the app's native Plus Token. While early users did receive payouts, unless they immediately converted their Plus tokens to a more reputable currency, they ended up being scammed just as much as those who lost their deposits and never received any dividends at all.
Plus token is now not listed on any exchanges, and is essentially worthless. As with many scams, a lot of effort was put into making it seem legitimate. There were advertisements in Chinese supermarkets, rave-like events in auditoriums set to K-Pop soundtracks, even billboards in Chinese cities. The promise of high returns combined with incentives for bringing in new users is always a recipe for trouble. Yet it can be hard to look past the lure of money and see a scam for what it truly is.
ACChain was a freshly-minted ICO that aimed to create a platform to streamline the process of digitizing monetary assets onto a blockchain. Some investors were unhappy with the level of engagement from the team on their official Telegram channel, and requested to see pictures of them at work.
When these were not provided, one investor and Reddit user slinterface went to the company's offices in Shenzen, China. Slinterface asked around and neighboring offices confirmed that ACChain executive Jia Wan and two companies were present in those offices until February Both are majority-owned by a third company, for which Jia Wan serves as legal representative. Shenzhen Puyin Blockchain Group was under investigation by the Police Department of Nanshan District for false and illegal advertising.
Neighbors also reported that about three weeks after ACChain left the offices, a group of "mafia-like" men came and took everything that remained. There are reports that they were arrested. After the disappearance of the team, it emerged that a company named ACChain Technology International Services was registered in the tax haven of Jersey.
There has been little word of developments in the case, though one thing is for sure: ACChain investors will be lucky to see a cent of their equity ever returned. It's hard to know exactly how much Bitcoin is owned by Chinese individuals or entities.
The nature of the blockchain does not give any real clues as to the country of origin of any wallet's holder. Bitcoin's pseudonymity also makes it hard - or impossible, without special tools - to tie together a user's multiple wallets, or to determine what percentage of coins are irrevocably lost.
The billionaire also discussed China's leadership, emphasized the importance of diversification in a portfolio, and how a "flood of money" is lifting asset prices. Here are the 10 best quotes from Dalio's "Ask Me Anything" session. Visit Business Insider's homepage for more stories. Here are Dalio's 10 best quotes from the Reddit session: 1.
Read the original article on Business Insider. Indices in This Article. Dow Jones 30, Currency Exchange Rates. Alternatively, when perpetuals trade at a discount to the spot market, the funding rate is negative and shorts pay funding to longs.
A very high funding rate is widely considered a sign of an overextended bull run and often paves the way for a price pullback. For instance, the funding rate surged from 0. This time, the funding rate has remained steady below 0. Hence, a meaningful correction could continue to remain elusive, allowing further upside in the near term, possibly above record highs. As per QCP Capital, the spot market imbalance driving the price has allowed the leverage funding market to remain stable throughout the recent bullish move.