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China Announces Clampdown, Companies Deny Having Bitcoin, Blockchain Services

Written by:
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Published on:
Jan/18/2018

China Announces Clampdown And Companies Deny Having Bitcoin, Blockchain Services. There is a question about Initial Miner Offerings (IMO). This question goes to Xunlei. It is after this question that several companies are raising their voices. They now say that they will not tap into the bitcoin blockchain. This statement denial comes after another conceding message from bitcoin miner-manufacturer. The company has its base in Shenzhen. It now says that the business does not generate profit. Shenzhen Kaifa Technology (KAIFA) says the business doesn’t make a lot of profit. A statement from the company says that it is simply sustaining.

In January alone, the company produces 150, 000 bitcoin miners. Then on January 14, the company discloses information. You can find this information on their website. It says that the company isn’t making much money.  The message goes further to say that it is not a blockchain company.  In part, the message says that the company is seeing all the information about blockchain. But the company is yet to develop the technology.  The company deals with bitcoin mining. But the kind of mining this company deals with is for domestic use.

KAIFA says the business is not profitable for now. There are many reasons for this to happen. One reason is that the company started three months ago. It is not enough time to break-even. But the company is heading for big positions. Three days ago, the company’s shares rose by 15 percent. Also, this is a good indication. The company says this is the first time her shares are recording a growth.

The company also says that they are working on avenues. Among the possible channels, the company is following is blockchain. But the company is quick to say that there are many things. In fact, it calls them a fuzzy of uncertainties. It has to deal with them first. KAIFA points out that it is dealing with high-profile companies in this. One of the reasons for doing this is to ensure quality. But this is a business that is for days to come.Find the best Bitcoin gambling sites at USSLOTCASINO.com.

More Companies Deny

In the first quarter of January, IDG Capital makes the announcement. The company says that plans are underway to invest in Sichuan Shuangma Cement Company. IDG says that it will invest some 000935 of its stock in the business.

But on a quick reply, the Sichuan Company says there is no such a thing. Through a press statement, the company says that there are no such plans. It says that there is no day they have a plan to invest in the blockchain. Even worse, the cement company says it doesn’t have links with IDG. This makes it difficult for anyone to believe either. Each of the groups says a different thing. U9 Game on its part shares information. The site says that it doesn’t create. Instead, the company says that it only shares the news. It points out that it doesn’t create blockchain stuff. It adds that it is not supporting any company to do so. So, are companies having bitcoin or blockchain phobia?

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