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China's central bank believes Bitcoin will be dead in a river

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An official from the People's Bank of China (PBoC) said that he thought that bitcoin would eventually float on a river like a dead body.

Speaking at a financial forum in Shanghai, Pan Gongsheng, a deputy governor of the PBoC, spoke of the central bank's decision in September to crack down on national currency swaps and initial money offerings ( ICO).

According to him, it was "scary to think of" where the market would now be if the ICOs, bitcoin transactions and financing activities were still taking place in China.

In his speech, Gongsheng cited an economist column and professor at the Kedge Business School in France, Éric Pichet in La Tribune. In this book, Pichet argues that cryptocurrency will end with piracy in the blockchain or by a global ban on governments.

In an approximate translation, he writes:

The first would be the burst of the century (such as password theft) or an intrusion into the blockchain system that would lead to a flood of fake bitcoins, and thus to a collapse in prices.

It is obvious, however, from Gongsheng's view of digital currency. So much so, that he believes that he will eventually die. Quoting Pitcher lines, and referring to the British economist John Maynard Keynes, Gongsheng said:

As Keynes taught us, "the market can remain irrational longer than you can remain solvent. & # 39; There is more than one thing to do: sit on the bank of the river to see the body of the bitcoin pass, a future day.

Recently, it was reported that the UK Treasury Department plans to introduce stricter regulations on digital currencies such as bitcoin in order to fight crime like tax evasion and money laundering.

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It seems that the UK government is now pulling traces of China to try to prevent criminal activity through the use of digital currencies.

It is interesting to note that the Chinese authorities may have hoped for the end of the digital currency that did not take place. In fact, not only has he continued, but he has also prospered. Despite the hurdles Bitcoin has faced throughout the year, it has maintained its value gain, consolidating itself more in the mainstream.

The impact that the UK's footsteps will not have seen has yet to be seen, but it may be another factor that keeps the crypto-currency strong in a growing market .

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