emfizz.com
emfizz.com September 24, 2017


The summer of bitcoin ends badly

16 September 2017, 12:51 | Jan Cross

Bitcoin a 'fraud' that will 'blow up' according to JPMorgan Chase boss

Tough stand Dimon has warned that he will fire JPMorgan traders who traded in bitcoin ‘in a second. For two reasons It’s against our rules and they’re stupid. And both are dangerous.’ — AFP

In fact, leaked documents obtained by Reuters show that the Chinese government is ordering cryptocurrency exchanges to close. At time of writing, one Bitcoin is price at about $3,014, down 18.54 percent in the last 24 hours according to CoinMarketCap, and down almost 40 percent from its July all-time-high of $4,952.

The regulators' crackdown was sparked by fears that Chinese investors were speculatively piling into cryptocurrencies.

BTCChina, one of the biggest exchanges in China, announced on Thursday that it will close down its trading operations by September 30, while BitKan, a leading cryptocurrency trading app has already suspended over-the-counter trading on its app.

Meanwhile, following the news of the imminent closures on September 15, the price of Bitcoin fell below $3000, but later started recovering.

China's regulators plan to tighten the digital currency activities in China. However, according to Yicai, on September 13th, the China Internet Finance Association issued a risk warning, saying that all of the so-called " virtual currency" trading platform in China lacks a legal basis.

The selloff accelerated on Tuesday, after J.P. Morgan Chase CEO Jamie Dimon called the cryptocurrency a fraud that was "worse than the tulip bulbs" and that "won't end well".

'Iranian pilgrims' among 50 dead in Islamic State-claimed Iraq blast
In the first attack, gunmen opened fire and threw grenades in a crowded roadside restaurant and a suicide bomber blew up a vest. Thursday's attack, along a highway near the city of Nassiriya, was one of the largest in the country in recent months.


Iraqi Kurdish referendum 'historic mistake': Turkey
Prime Minister Haider al-Abadi said that the referendum planned for September 25 would violate Iraq's constitution. Ownership of Kirkuk has always been disputed between Iraq and the Kurdish authorities.


Trump to sign resolution condemning white-nationalist groups
Even without a retraction, Scott said he felt the president had clearly reflected on the uproar his comments caused. Scott is now the only black Republican senator, and the pair discussed race issues in the wake of Charlottesville.


BTC China will immediately stop accepting new account registrations on its BTCChina Exchange, Chief Executive Bobby Lee said yesterday in a tweet.

The price of Bitcoin tumbled sharply following the BTCC announcement late on Thursday but has since regained some ground. The bank banned initial offerings of new digital currencies last week.

Did you find this article on Bitcoin price crash interesting? The contributions, which had grown with the increase of the other crypto-currencies including bitcoin, are barred and should stop with immediate effect, the People's Bank of China claimed to the media this week.

The shutdown only affects Chinese traders, leaving global exchange operations to continue as usual.

Bitcoin is a digital currency and is accepted the world over.

The announcement was viewed as one way for Beijing to get power over crypto-currencies, which are made using blockchain tech and are bought and sold online without any regulation of the government.



Other News

Trending Now

Baldwin and Johnson sign on to opposing health care bills
Congress would have to act again in 2026 to continue funding for the bill, which is written with only a 10-year horizon. The Graham-Cassidy bill has yet to gain full Republican support. 12 other senators have signed onto Sanders' bill.

Amarnath Yatra attack mastermind LeT commander Abu Ismail killed in Nowgam encounter
Eight Amarnath pilgrims, including seven women, were killed and 19 injured after terrorists targeted a bus in Anantnag district. Reacting to the attack, Chief Minister Mehbooba Mufti said the attack is a blot on the Kashmiris and Muslims.

Voter panel vice chairman clarifies fraud claims
The statement said that the foundation is "scrupulously nonpartisan", adding: "The views expressed in the email are his own". The Pence-Kobach commission has other designs, and I urge Granite Staters, and people throughout the nation, to be vigilant.

Edith Windsor, Who Sued For Marriage Equality, Dies At 88
In the 1950s, at a time being gay was harshly stigmatized, she married a man and changed her last name to his, Windsor . She had filed her lawsuit with a view to getting a tax refund, but the lawsuit went much further than that.

Pakistan beat World XI in 3rd match to seal Independence Cup
Du Plessis said the significance of their tour was that it was something that was bigger than just playing for one's country. For the live streaming, cricket lovers in Pakistan can visit the official website of #ptv sports .

Yu Yureka 2 with 16-megapixel camera, 4GB RAM launched in India
Like every other smartphone in its price range, YU Yureka 2 also boasts of a fingerprint scanner at the back. On the connectivity front, the device supports 4G VoLTE, Bluetooth, WiFi, dual-SIM and micro USB port.

Brandin Cooks trying to treat New Orleans return as just "another game"
Peterson only had 18 yards rushing in their first game, but it was tied for the best on the team with rooking Alvin Kamara . The Patriots went on to a comfortable win, 34-17, carrying the momentum for the rest of what proved to be a magical season.

Jordan Henderson: Roberto Firmino not at fault for draw after penalty miss
We're disappointed not to take three points, but I thought the lads reacted well after the weekend". "That's how football is. Although the German appears frustrated by the result, it is once again obvious why the Reds have come up short.

What Do Analysts Say About Investors Real Estate Trust (IRET)
Commerzbank Aktiengesellschaft Fi holds 0.86% in Verizon Communications Inc. (NYSE:CAT). 22,941 were accumulated by Loudon Mngmt. As per Wednesday, March 1, the company rating was maintained by Maxim Group. (NYSE:MNR) on Friday, May 6 with "Buy" rating .

Facebook issues new guidelines for content creators
These standards will apply to ad placements where context could matter, including in-stream ads and Instant Articles. Facebook now says publishers will need a "sufficient" follower base in order to monetize their content with ads.