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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Bitcoin ➜ 1A88c8x7Hza96WXwcM11oC639MfrEFtT1P
Ethereum ➜ 0xEce2AEf1F26373a00BDC7243d1201a98578CC67e
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.
My broker has buy orders just under 2000 for BTC and figures the will be filled this year.
Dang, that would be a huge retracement!
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.
This is a very competitive market, Canada has a very proactive standpoint on bitcoin, if you aee Canada ban ICO's or crypto, then its time to expect big regulation changes.
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.
Very practical information , thank you
I hope this would not become world wide ban of cryptos...
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China is doing this because they are very quickly going to roll out their own system and they don't want the competition and their big enough that they will get away with it. Does anyone really think that China is going to allow its people to have anonymity in their transactions, that's like say the USA hasn't corrupted the whole money system. Power corrupts and absolute power corrupts absolutely.
In the very near future China is going to be the new financial super power and these cryptocurrency's are a threat to that. It's all ready working Bitcoin has fallen 300 bucks since China made this statement.
Neither the U.S. nor China can control the world. As long as there are pockets of people using cryptos, I think we will see more and more solutions to help balance things out. It's been coming for a long time now.
Good news it that...It's not shutting down...!!! Chinese govt will conduct spot checks on their operations...Hope Bitcoin recover soon ...
https://steemit.com/bitcoin/@techie.malkit/flash-crash-bitcoin-price-plummets-usd400-in-minutes-as-china-rumors-swirl
Thank you from the information
What a T-shirt!
no idea :D
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
Got to love being Canadian in this context, we will be the last country to regulate the currency beyond normal online securities taxes. Im pretty sure if you pay proper tax on your returns, then you are 100% in the clear in Canada. No tax for miners yet either.
Government regulation of a currency created for the purpose of decentralization of wealth is just the fist step toward re-centralization of it.
Congratulations, your ahead of the curve!
Bravo post 👍
Quick note: if your going to invest in gold or silver it's important to buy in small quantities and take physical possession of it. Large purchases are reported to the government. The same governments who repatriated gold in the past after a false devaluation. If you think its not going to happen again then ask yourself this. Why did the US government recently start requiring gold purchases to be reported. (Under the Obama administration)
Be careful out there boys and girls.
Question:
It appears as though when i just up votes this, the potential payout went down. Why?
This is certainly not my intent...
I doubt it can be shut down. It will be like trying to play whack-a-mole and these exchanges will just move from location to location. The countries that do not embrace and foster innovation along with sensible regulation will lose out - and they are too smart to lose out - so while there may be some additional regulations which will be a good thing. In the meantime, I think the market over-reacted to this news and the rumors.
https://steemit.com/bitcoin/@wanderingmind/over-blown-market-reaction-on-bitcoin-news-from-russia-and-china
If you cant hold it, its not yours!
Luckily Canada has a progressive passive stand point on crypto currency.
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