China's Rude Awakening

in #bitcoin4 years ago

There has been a ton of reports on China and what seems like a change of heart in regards to blockchain technology.

The Chinese government is now "embracing" blockchain technology and have even gone so far as to declare that any article or message that tries to say blockchain technology is a scam will be banned.

If ever there was a need to read between the lines of the press and notice what ISN’T being said, this is certainly one of those times.
Especially if you’re one of those people who think China will be the one who directly escorts Bitcoin into its next bull run.

View Video Here^^

[Didn't Watch; Prefer to Read]

Let’s begin with remembering that for over 5 years, China has slowly but surely banned its citizens from being exposed to several different facets of cryptocurrency, beginning with cryptocurrency exchanges and moving on to the mining sector as well.

It seems like there is a case of amnesia running rampant through the crypto community at the moment in the form of showering praises for the PBoC, crediting them with the recent price increase of Bitcoin and most other cryptocurrencies as well, to the point where people were finally letting themselves hope for the actual return of the much loved “alt season”.

Of course in reality (as is always the case) there are multiple factors that come into play regarding dramatic price movements in this space. This past week for example, the CME Bitcoin futures expired as well, which consistently plays a decent role in price movements.

But let’s get back to the moves that China is making and in the meantime, I want you to consider what these moves mean in light of their past behavior, because let’s not be foolish enough to think that it’s not all at the very least, a bit connected.

China first set the stage by banning its citizens from trading cryptocurrencies and participating in ICOs, quite possibly combined with the censoring of news articles that speak about the positives of blockchain technology and most definitely censoring the positives of Bitcoin. Effectively controlling their exposure to the liberated side of cryptocurrencies and blockchain tech.

And that right there is the detail that I think everyone should be aware of.

The difference between blockchain tech and Bitcoin.
It’s a discrepancy that most governments and big banks like to make, that they can see the value in blockchain technology, but not the value in Bitcoin.
Blockchain technology is a tool with a lot of potential depending on how it is implemented. It can certainly be disruptive if done right. For example, that technology applied to the financial sector and the creation of money holds a ton of disruptive power, lucky for us, that implementation has been going strong for the past ten years and continues to be a lifesaver for those eager to have a plan B, I mean, plan Bitcoin.
And as I’ve pointed out time and again on this channel, those who have thrived for so long based on the control they have are the same who will be on the blunt end of the disruption and we know they aren’t happy about it.

China now approves of blockchain tech, and unsurprisingly, they still do not approve of Bitcoin.

((Which is fine by the way, Bitcoin works quite well with or without the stamp of approval by any government which is exactly what makes it that lifesaver for those who are desperate to regain their autonomy and control over their money.))

The trend is apparent now that everything is going digital and that includes currencies.
Those who are issuing them now, like Libra, like JP Morgan, and other countries even, are doing so on their own terms, with their own limitations and what I believe will only be more of the same centralized control at the expense of whoever uses them.

The beauty of the reality now is that finally they have legit competition, legit currency competition. Now they’re trying to stay relevant with their old and outdated control and power plays in a world where the market not only has access to autonomy and freedom, it favors them.


delete yourself from the downvote group where you are constantly downvoting me please.

Apologies, it’s been remedied and I’ll go back through and cancel the downvoted.

🎂 ;-)

How did you know?!

Thank you :)

I'm a witness, I'm witnessing stuff ;-)
(I read your post, when the world was young and the travel begun ;-) )
And it was easy to remember - I'm just a little bit older.

(keeping up the tradition) ;-)

🎂 :-)

Followed and reesteemed.

Resteemed so I can read it later again.

Getting some haters here Heidi I guess it is a sign of success! Keep up the good work I for one enjoy tuning in!!!

I'd say it's more a sign of one person controlling the platform. Glad you enjoy my posts :)

Why people downvote you?
You write great, please kee it up and write on. Damn haters.

That is really not nice to downvote @heiditravels.
She has already asked the downvoters.

Saw it words for it. Thanks

Thank you, I think we're witnessing a bit of a power trip... I will continue publishing content that will be freely available and more visible on other platforms as well.

Interesting and resteemed :-)

Why do you downvote me following this trail ? What did I do ? Am I abusing the system?

I got downvoted because for the first time in month I got an upvote from slowwalker lol ! I will downvote once as a warning.
I know it is a trail but you are still responsible if this trail is stupid and targets good content creator:

Apologies, it’s being remedied and I’ll go through and cancel the downvoted.

Great news thanks 🙏
I will remove my downvote too

Congratulations @heiditravels! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You distributed more than 70000 upvotes. Your next target is to reach 71000 upvotes.

You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @steemitboard:

SteemFest⁴ - Meet the Steemians Contest
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Hi @heiditravels

I just found your old post. Thx for sharing this valuable video with us.

ps. did you give up on steemit? :(
Yours, Piotr

@heiditravels, sorry to see you have less Steem Power.
Your level lowered and you are now a Minnow!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Congratulations @heiditravels! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You distributed more than 79000 upvotes. Your next target is to reach 80000 upvotes.

You can view your badges on your board and compare to others on the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Do not miss the last post from @hivebuzz:

Hive Revolution - Call for missions
Vote for us as a witness to get one more badge and upvotes from us with more power!

Whoever is downvoting @heiditravels, realize that you are a total loser and scumbag. She always puts out excellent, interesting and relevant content and fully deserves every upvote she gets. Go Heidi!