Share this article
Chinese whispers hit Bitcoin, again
Rumours suggesting the Chinese government was moving to block Bitcoin related traffic on its networks have been dismissed.
By John Oates
Updated Sep 10, 2021, 10:47 a.m. Published May 24, 2013, 10:25 a.m.
Rumours suggesting the Chinese government was moving to block Bitcoin related traffic on its networks have been dismissed.
News stories about China routinely get traction without being checked and elements of the Bitcoin community seem happy to believe anything which fits with their world view.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
But forum posters on Bitcointalk quickly moved to quash rumours that Chinese telcos were being warned to block bitcoin-related traffic.
The original poster quoted a supposed email which said:
"We got further information from our carrier confirming that business such as bitcoin is not a proper financial tool in China and the Authority may treat bitcoin as an illegal business. Unfortunately the China Telecom Authority has requested that all bit-coin traffic to China be blocked."
Advertisement
But other posters reported using China Telcom networks without problems.
China's convoluted censorship system, called Golden Shield, doesn't usually email people with explanations either.
Data from Sourceforge showed that Chinese computers were continuing to download thousands of Bitcoin clients - see here for the Sourceforge charts.
Blockchain.info also showed recent connections to China-based bitcoin nodes.
China has moved up the rankings to second place behind the US for Bitcoin client downloads, and shows no sign of slipping yet.
The original thread is here.
A previous Chinese Bitcoin rumour was that the People's Republic was about to back Bitcoin - the basis for this was a documentary on Chinese state television.
The Chinese government has squashed previous alternative currencies when people started using them in the real world.
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
