The Great Crypto Paywall Of China Is A Blueprint For The West
Rumor has it that China is about to shutdown all domestic bitcoin and cryptocurrency exchanges!
Considering that the last rumor of an ICO ban (which came from the same publication) came true, there is a very good chance that this recent warning of a crypto exchange ban in China will also come true so
in this video
Dan Dicks of Press For Truth breaks down the latest cryptocurrency news involving China, their ICO ban and the coming crackdown on bitcoin exchanges.
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If you're right the west will follow in China's footsteps and shut down all local crypto exchanges. Trends do seem to sweep nations, however I do not think this is one of them. Bitcoin already has legislation in America. I guess time will tell.
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I agree with you, I do not think this trend of "shutting" down crypto exchanges will spread. Countries do not want to lose out on the prospect of what could be significant new revenue streams from growing innovation. In the meantime I think the market way over-reacted to the news last week.
https://steemit.com/bitcoin/@wanderingmind/over-blown-market-reaction-on-bitcoin-news-from-russia-and-china
The Blockchain is a great technology and for the time being we can expect that emergent nature of the community will overcome all the bans, governments and restrictions and to continuously change technology on its way.
Having said this it's very difficult to bet on the right crypto, which one will be the one that will solve the specific issue of the moment?
My suggestion would be to:
I wrote a small series on diversification benefits and the income that can be created through it.
CryptoPortfolio - Extract a "diversification dividend" - Part 1: Geometric and Arithmetic Returns
CryptoPortfolio - Extract a "diversification dividend" - Part 2: Portfolio Risk and Diversification
CryptoPortfolio - Extract a "diversification dividend" - Part 3: How to make 8% more per year
I would be grateful to anyone who wants to take a look and let me know what he/she thinks! Thanks
That reminds me this news:
Someone Put the Tiananmen Square ‘Tank Man’ Image in the Bitcoin Blockchain to Troll China
If this comes true don't you think it will affect crypto value worldwide @pressfortruth
Thanks for sharing this information. Very well presented. One thing this latest China news does show is the low confidence in the price in BTC. Very tempting to buy the dips, but FUD may drop it lower...
Have a great day and thanks again for the post!
I think the Chinese have no interest in preventing it, one of the biggest investors in the crypto space is the Chinese government itself.
It was pure FUD to make the prices tank.
The trouble is that the Chinese investors know what their govt is like, so they always hastily sell when news like this happens, and the western exchanges simply follow because they're not sure what is going on.
I doubt western exchanges will close - the govt really likes the tracking element of the blockchain. It's their dream come true.
I appreciate you anarchists, but...
China is looking into regulating the use of crypto, not a ban. This day was bound to come. For you it might be the death of a revolution, but to the average Joe this means normalisation.
Ofc China might end up regulating it way to hard outright banning many cryptos and accepting only chinese gov crypto, thus making a Banking System 2.0, but I hope that won't fly.
Lol, the death of the revolution came from bitcoin itself, not from the Chinese government.
There is more and better options than bitcoin on their way or already in existance right now.
The Chinese government just seeks to capitalize on bitcoin, not bring security to the average joe.
And the Chinese government does a good job at that, as expected.
I think banning purpose in only to regulate ICO & existing crypto for safe investment for peoples as well as government. Good sahre, vote & resteemed.
Great readability on this blog post. It really describes what the video is about. Very practical information. The details should build up your Resteemers.
True comment @helpfulhillbilly ....from rumors to reality...I wonder why they are pushing all the gains back. China she wake up.
China cracking down on Crypto is due to the potential economic freedom crypto would provide to its citizens. Remember, China is essentially a communist dictatorship and the government wants to hold as much power as possible.
We live in a democracy in the U.S., so there would be a lot of steps between what it is now and Crypto being illegal. Plus, there's enough money in crypto to buy votes against legislation that would derail this ballooning industry. It may be the only time I know of that politicians being easily bought and sold may be a good thing lol