https://mp.weixin.qq.com/s/4ti2vgp711pse4TusxmJHA
[Exclusive] 1/3/18 China's Central Bank Met Today with Rumors of Orders to Shut Sown the Domestic Bitcoin Mines:
Just recently, [source redacted] received exclusive news from reliable insiders that today the central bank held a closed-door meeting demanding a shutdown of bitcoin mines within a deadline.
The source said: "Governments at all levels will be required to ascertain the number and location of mined areas in the area by filing downwards and then declaring them upwards," the source said, on how to check the abundance of bitcoin mines in the country.
According to sources disclosed by the source, the deadline for the closure of the domestic bitcoin mines and relevant regulations will not be introduced soon.
[Source redacted] also noticed that on the first working day of 2018, China Economic Weekly, one of the party's media, published an article entitled "Central Bank: Joint Multi-Agency Cleanup ICO, Bit Currency "article.
An unknown person familiar with the newspaper told [source redacted] that while the news itself is an integration of old news in 2017, it is presumed in the consistent style that the People's Daily controls the media and not a coincidence that their first article fired on bitcoin. I am afraid that the intention behind was not just to sort out the old news; do not rule out the possibility that they might have received the request from higher authorities to explore public opinion.
On November 15 last year, [source redacted] interviewed a person involved in digital currency regulation, and learned: "Many executives believe that the mines use local electricity subsidies, get cheap electricity and consume a lot of energy. They feel like cryptocurrency lacks sustance, to the real economy it's not much help, also the coins we mine are sent to foreign countries, so the authorities have concerns that we are "making a wedding dress for someone else".
This shows that regulators have always been cautious about Bitcoin production.
Market response:
However, the market seems to still be more rejecting of this message. [Source redacted] in an interview with a person who is working on a mine site, he not only showed that he has not heard anything yet, and speculated that "the recent news is like fried rice, it's old news put after the false news, in order to shorten bitcoin. "
"The state has never publicly stated that there are problems with bitcoin production and everything is still on the sidelines. If Bitcoin production and distribution are legal, there is no problem, since bitcoin is the largest and oldest blockchain technology product "
After sending him the message of "meeting of the central bank today," he repeatedly pointed out to [source redacted] that even if the country wants to shut down mines, it should only be for small mines. "There are a number of non-compliance issues with electricity handling procedures. The approval of the large mines may be tightened, but the impact on the existing large mines will not be much affected and their mines are still on schedule. "
<<<In order to translate faster, I use Google Translate and then edit the translation myself. As a result, this is not up to par with the quality of a professional translation, even by my own standards, but it's good enough to get the gist of a news article with what I call "speed translation" and will have to do for blog posts : ) >>>