BITCOIN DIARY: And then China said '已经足够!'
The bulls were running until the PBOC (People's Bank of China) put a mighty panda paw over the market
Lance Boyle doesn't really know who he is They called it the "crypto crash", the smug, sneering bastards. It was the first time that Bitcoin had stumbled since its headlong gallop into the blue following the Great Segwit Event of 1 August. The bulls were running until the PBOC (People's Bank of China) put a mighty panda paw over the market last Monday and said: '已经足够!' (That's 'enough already!' - Google translate.) America's leading business magazine, Fortune, responded as all self-respecting news organisations would, with a listicle: '7 reasons why China banned ICOs'. An ICO is: "An unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks." (Investopedia) The top reasons: ICOs are out of control, many are scams, they're a dangerous mania, they were forged in hell by Lucifer's central banker, etc. But the real r...
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