The collapse of bitcoin in mainland China

1. bitcoin China, the first bitcoin trading platform in China, announced yesterday that it would stop all trading business from September 30 this year. In this regard, some financial people expect that some investors will not participate in the local sale before the platform closes at the end of the month. If such investors rush in from a high level in August, the losses will be very heavy
bitcoin China announced that in accordance with the spirit of the document "Notice of the people's Bank of China Central Network Information Office, Ministry of instry and information technology, State Administration for Instry and commerce, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission on preventing the financing risk of token Issuance" issued on September 4, and adhering to the principle of preventing investment risk and protecting the interests of users to the maximum extent, bitcoin China team has carefully discussed, Three decisions were made: first, bitcoin China digital asset trading platform stopped new user registration from yesterday; Second, on September 30, 2017, the digital asset trading platform will stop all trading businesses. Third, bitcoin China's mining pool (national pool) and other businesses will not be affected by this and will continue to operate normally
affected by this news, bitcoin, lightcoin and Ethereum all fell sharply. By the time of Beijing Youth Daily, the price of bitcoin was 21600 yuan, with a 24-hour drop of 12.51%. During the day, bitcoin once fell below 20000 yuan, with the lowest price reaching 19597 yuan; Ethereum quoted 1472 yuan, down 14.56%; Lightcoin fell the most, offering 299 yuan, down more than 23%
bitcoin China, the first and largest bitcoin trading platform in China, is operated by Shanghai satuxi Network Co., Ltd., which was established on June 9, 2011. The team members are mainly from China, Silicon Valley and Europe
on March 12, 2014, bitcoin China officially launched the lightcoin transaction, with a total transaction volume of more than 30 million yuan
on September 30, 2017, bitcoin China stopped all trading business
the first time I bought bitcoin and the first time I bought Ethereum was in bitcoin China. The collapse of bitcoin China and other exchanges means that China has lost its pricing power in the field of virtual currency.

2.

This situation must be timely feedback to customer service, to retrieve

if bitcoin is stored in the account of the exchange, all the coins are in the big account of the exchange. If the exchange stops trading or goes bankrupt, all the coins belong to the actual controller of the exchange (the person who has the key of the big account)

therefore, if there are official problems in the exchange, we must contact the official customer service in time to retrieve them. In addition, digital assets, blockchain and other technologies will have unpredictable effects, and problems in the development process need to be standardized

extended information:

people who really own bitcoin do not store them on the Internet, but store them on the hard disk. Bitcoin's code is open source, which means that technicians can modify the code to proce a continuous stream of virtual currency

which breaks through the "limited amount" attribute of bitcoin. These virtual currencies can be exchanged with fiat currencies. For example, bitcoin can be exchanged into yen, and yen can be exchanged with almost all fiat currencies in the world

in this case, if the number of virtual currencies increases arbitrarily, there will be problems in the whole international monetary system. Therefore, on September 4, 2017, the central bank stopped the exchange function of the token trading platform, especially the exchange function with legal tender

3. No, but bitcoin is not as hot as it used to be. Bitcoin has been on the decline since 12.5 at the end of 2013. During this period, some bullshit happened. Mentougou, the world's largest bitcoin trading platform, has stolen 600000 bitcoins. The U.S. government has auctioned bitcoins obtained from the Silk Road for many times. Although bitcoin gained more attention and recognition in 2014, the scale and scope of financing have increased geometrically, However, there was no killer application of bitcoin in 2014, and the price of bitcoin continued to fall, once falling below the 1000 yuan mark

since 2015, the price of bitcoin has been even worse. First of all, one of the world's largest bitcoin trading platforms has stolen $5 million worth of bitcoin from stamps. During the Spring Festival, biter, a well-known bitcoin company in China, and its piggy bank have been stolen, totaling more than 10000 coins. China's bitcoin circle is shrouded in a black cloud. The security of bitcoin has once again aroused everyone's attention. The confidence of bitcoin is also disappearing, and some big V's in bitcoin circle are also turning back

may 2015 be a turning point for bitcoin, or death or fire? Bitcoin has more analysis articles.

4.

I have always trusted btc123. In 2013, I first found the fxbtc mainland platform on btc123 to buy bitcoin. Fxbtc failed and lost a lot of bitcoin. At that time, I thought that the mainland platform was not very reliable. Then I found mycoin on btc123, the Hong Kong platform. Considering that the legal system in Hong Kong is more perfect and btc123 is an endorsement, it should be safer. So I bought 2 million bitcoin from huocoin.com and transferred it to the multi currency treasure in mycoin platform for storage!!! Often login multi currency account, has been able to log in, and every day there is interest payment. In February of 2015, I happened to see the news that the boss of the platform ran the road and Hong Kong's capital took 3 billion yuan away!!! Then the mainland economic investigation called the police and refused to accept it. It said that the office address was in Hong Kong and asked me to call Hong Kong to report to the police. The Hong Kong police station received a call saying that I should report to the police in the mainland, and bitcoin did not accept the call to report to the police. Finally, it said that I could report to the police online first. I called the police on the Internet, no news!!! Now call the day should not, call the ground not work!!!! I hope the media, the government or the police can help me. I can't say that I have no hard-earned money for 15 years! I wonder if we can sue btc123 together? What else can we do to rece the loss? Thank you

5. If you find a qualified platform in China, it will not go bankrupt if you have strength, such as 1coin, okcoin, Huo coin, etc. where can you go to find a foreign one? It's not suitable for Chinese people.

6. To be clear, the questions you ask have problems

you may not quite understand the difference between "bitcoin" and "bitcoin trading market". It's just that I heard that a bitcoin or something is going to go bankrupt. The bankrupt is "bitcoin trading market", not "bitcoin". Pay attention to the difference
just like a company selling potatoes, potato trading company, it is "potato trading company" rather than "potato" that goes bankrupt
bitcoin, like potatoes, is a commodity. How can a commodity go bankrupt?

7. If the bitcoin platform fails, you can find qualified platforms in China, such as 1coin, okcoin, huocoin, etc,

8. I took it from Jingxuan finance, hoping to help you
1 direct transfer: trade all the money in your wallet to the new address. There is a handling charge
2 export private key: export the private key of all the deposit addresses in your wallet, and then import them into your new wallet. There is no handling charge. For safety, it is recommended to complete the operation offline.