@honeysaver posted this on D.Buzz a couple of hours ago, but since the buzz included a tag for LeoFinance I will link to the version at the leofinance.io domain:
I have a feeling that China creates FUD by the ban of #Bitcoin (which it does regularly interestingly), then it buys the dip to accumulate its wealth even more.
If China made 12 bans of one kind or another concerning Bitcoin or crypto, does this mean the latest ban is like the others, or is this ban the real deal?
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18 times. They did it 18 times in total. 😂 So that could mean they bought the dip 18 times.
The latest ban seems like a real deal because it bans all of crypto this time.
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18 bans in 12 years-- that's even more insane!
The Chinese government is many things, but stupid isn't one of them. It had better know what it's doing, because this could backfire on it.
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Yes, they aren't stupid but so egoistic. Which is why they are going to go down one day. ✌
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Indeed. That is the fate of all empires and hegemonies. It happened to Rome. It happened to the USSR. It will happen to both USA and PRC, although those end dates are to be determined.
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Khal knows those end dates.
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SOON™
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I won't be shocked if this narrative is true. We've seen how this same strategy has been used by the corporate world. We all heard how bitcoin was aiding and abetting terrorism and cybercrime. Now that narrative is changing and we have big organizations like tesla buying into it.
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It's one thing for Tesla to pump and dump a crypto. It's another for a country-- in this case, China-- to ban and unban crypto and any activity associated with it. Let's see what happens with this particular ban from China.
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I have not read about this new ban (been living under a rock I suppose). Nevertheless, I think the impact of the ban will be short-lived.
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What's news to me is that it's the 12th (??-- or 18th?) ban in 12 years. I hope the impact is short-term as well, but I have no idea what that impact will be.
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That would not surprise me. But maybe they just messed up for real.
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China could reverse the ban, but it has to wait first. The earliest that China could revoke the ban would be 365 days from now; it has to look like they reviewed the situation and saw that it would help rather than hurt. If China revokes the ban any earlier than 1 year from today, it will lose face; that's not an option.
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12 Bans is too much already but I think its going to be tough to reverse at this point. I know they want to push the digital yuan
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China definitely wants to push Digital Yuan, and it wants other nations to transact in Digital Yuan. As long as it sees crypto as a threat to Digital Yuan, you can forget about crypto there.
Unlike the leaders of most countries (large and small alike), the leadership of China has both the determination and the force of will to make Digital Yuan a reality. As I've said elsewhere, the leadership of China plays for keeps. They also don't mind if their rivals/opponents/enemies shoot themselves in the foot and groin and eye socket before they swoop in to finish the job.
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And they have a massive user base under their control too so they can get things rolling easier than anyone else
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Massive user base or not, the government there has the guns. Use Digital Yuan, or else....
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Yea and they are trying to stop any medium to convert the digital yuan in China. Limits on gold and precious metals. Get rid of crypto so that is another way to remove the transfer of funds elsewhere.
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China will still be a major buyer of gold and silver and other metals (precious and base), but what happens after that is another matter altogether.
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Yes but they don't want the normal citizens to buy those metals.
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That's a shame. It's too bad they can't tell the government they're freaks so that it doesn't apply to them.
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