China completely closed the virtual currency exchange, said Bitcoin no obvious practical application

A wave is not a wave after another. Recently, according to the news report, the regulatory authorities decided to close the virtual currency in China, the exchange, which involves the “currency line”, “fire coins” and “Bit Coin China” as represented by all the virtual currency and the transaction between the French By.
China completely closed the virtual currency exchange, said Bitcoin no obvious practical application of micro news
Affected by this news, Bitcoel night prices experienced a decline in the cliff, an hour down as high as 19%.
China’s three major foreign currency trading platform, including “fire coins”, “OKcoin”, “Bit Coin China.” The decision to close the trading platform between the virtual currency and the legal currency, that is, to prohibit the virtual currency trading in China, not to prohibit all the virtual currency and the legal currency transactions in China. Internet financial risk special rectification work leading group stressed: “to close is the bit currency exchange, not for Bitcoin.” Banning and Bitcoin Exchange-related activities does not affect the development of block chain technology.
Even Shi Yuzhu also made a comment, he said:
Should not be too demonized Bitcoin, we can not read things are not necessarily bad things. Bitcoin transactions if there is an illegal, it should be against the illegal trade, should not ban Bitcoar transactions. Even if the Chinese are not allowed to have a bit of foreign currency, foreigners will continue to hold, and even in the future some countries of the government’s foreign exchange reserves may be equipped with Bitcoin. Bitcoin based block technology, the future will be a profound change in the financial and other fields, into everyone’s life. Statement: I personally do not own a bit currency.
The biggest problem with Bitcoin is that there is no asset and credit endorsement, purely by force and power and time to get, there is a problem with the mechanism itself, ordinary people can not get through labor.




   




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