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RE: China Starts Bitcoin Regulation
When it comes to the PBOC, you always have to look at their intentions a little more carefully - nothing is as straight forward as they make it out to be. No one should be surprised when the Chinese government announces their support for one specific crypto-currency (most likely NEO), or possibly they will develop a new coin that is not mineable or pre-mined, and completely under their control. I predict by the end of October - we will see... Steem on...
it is true indeed that most "western" news have the "Chinese Whispers" issue !
every englisch source had to go at least through the hard translation, which is quite tricky, as mandarin is very differently related on it's "meanings" compared to englisch or other languages.
So it is kind of art to understand chinese content as it is to understand the acutal significance of chinese politics.
We have very few actual facts to draw on in order to make informed predictions, specifically due to your point regarding the translation difficulties. However one thing is perfectly clear, China's government maintains total control over its population, and it is only logical to assume they would not want to waive that control, especially concerning something designed to be "free and open" like Bitcoin. Not to mention the potential for a new revenue stream... Great post ... Thank you for the reply... Steem on...