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Xrplover

What effects will the Chinese banning Bitcoin exchanges have on Ripple?

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Ironic that the PBOC met with Ripple before the above. Will this doom all cryptocurrencies in China? So far Ripple has not taken a huge hit based on coin market cap. As an aside, it is interesting to see JM Bullion accepting Bitcoin for of all things gold and silver which are historically the best stores of value. This lends credibility to the cryptos. Hope they accept XRP soon. Then  Paypal, Amazon, Alipay, etc. I hope this is not all wishful thinking. IF all the stars line up, we hodlers will be rich beyond imagination. 

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I don't think it's false news as its  posted on the PBOC website, but reading the notice I interpret it as any new fund raising ICO's or suspicious activity will be investigated. Along with a lot of fluff and political ramblings.

http://www.pbc.gov.cn/english/130721/3377816/index.html

Cant see anywhere it says on banning existing or above board operational coins. ;o)

I believe it's just temporary holding the horses scenario, scaremongering, with eventual allowance...

 

Edited by Mitcheeb

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What I am wondering is will there be any representative of the PBC at Ripples Oct conference, if China banning BTC has a strong negative effect on the price, will it have a reverse effect of the price of XRP if it looks like they are talking about using, and officially legalizing XRP.  Guess we will find out tomorrow.

 

 

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19 minutes ago, Greeny said:

What I am wondering is will there be any representative of the PBC at Ripples Oct conference, if China banning BTC has a strong negative effect on the price, will it have a reverse effect of the price of XRP if it looks like they are talking about using, and officially legalizing XRP.  Guess we will find out tomorrow.

I don't think Chinese officials are going to participate, but it would have been very nice, of course.

Maybe some Ripple people responsible for the Chinese market could be explaining what they discussed with the People's Bank of China representatives recently.

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So here the WSJ does a kind of reversal, added this sentence in an updated article:

Quote

Regulators told at least one of the exchanges that the decision to shutter them has been made, one of the people said, while another said the unwinding may take several months.

https://www.wsj.com/articles/china-to-shut-bitcoin-exchanges-sources-1505100862

Also, two "targeted" exchanges seem to be ICO-focused.

It's all relative. And the time frame of several months...

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