Quote from: Kesecer on December 11, 2017, 08:41:00 AM

Quote from: Stianyd on December 11, 2017, 08:37:12 AM

This has happened so many times exactly the same MO. PBOC says " we ban bitcoin" weak hands sell, they buy up cheap coins. Then they say " jk we no ban Bitcoin!" And then the price goes back up.

Why they never ban mining in China? Think about that.

They could just eliminate electricity subsidies for miners (or anyone using more than a certain amount unless are granted entitlements). Which would probably lead to decentralized mining in China. Which presumably would be a good thing. But someone paying true market price would also gain a measure of independence from the government. Which cannot be allowed. Bitcoins also give a measure of independence from government. So . . . CHINA BAN BITCOIN! Which leads to decentralized mining. Which leads China to accept bitcoin. For awhile. Then . . . CHINA BAN BITCOIN!