China Declares Cryptocurrency Transactions Illegal; Bitcoin Price Falls

[Trader Curt]

Crypto = monopoly money. But not as valuable, at least play money you can see.

It may not have value to you, but for everyone else its worth thousands and thousands of dollars. So sorry bud, but your opinion is irrelevant.

 

[mlawson71]

I mean, they've long been trying to ban cryptos, so far they haven't succeeded completely. So we'll see.

 

[terr]

I mean, they've long been trying to ban cryptos, so far they haven't succeeded completely. So we'll see.

Well it's China after all. If they wanted to they could get to the point of shooting people for accessing a VPN (and no one in the world will say anything, cuz money).

 

[DT-waw]

Traded for 12 years now, treated 500x better than gold and still humanity does not know who created that weapon of financial terrorism..... how sweet

 

[DT-waw]

what would be the penalty in china for HODL-ing?
Bullet in the back of the head by a firing squad?

 

[VicBee]

China's big headache is cash flight. They've been trying to reduce foreign investments and push home growth, but if the cash leaves at soon as possible then it does their policy no good.
It makes sense for China to ban crypto for above reason but I think it's good for crypto because it gives it more legitimacy. If western nations and the rest of Asia continue to integrate BTC and others in the traditional financial sector China will eventually be forced to cave in or operate outside the global economy, which it doesn't want.

 

[kmiklas]

what would be the penalty in china for HODL-ing?
Bullet in the back of the head by a firing squad?

30 years in a North Korean re-education facility first.

 

[RedDuke]

China's big headache is cash flight. They've been trying to reduce foreign investments and push home growth, but if the cash leaves at soon as possible then it does their policy no good.
It makes sense for China to ban crypto for above reason but I think it's good for crypto because it gives it more legitimacy. If western nations and the rest of Asia continue to integrate BTC and others in the traditional financial sector China will eventually be forced to cave in or operate outside the global economy, which it doesn't want.

there is no need to ban any cryptos. Just remove Tethers and the house of cards will collapse.

 

[Trader Curt]

there is no need to ban any cryptos. Just remove Tethers and the house of cards will collapse.

Awesome, cool story bro. But we can't do anything to help you, why don't you go tell the government your idea so they can do something? Show us the kind of man your mama raised that takes the bull by the horns instead of bitching about it over the internet.

In the meantime, I got more buying of this dip that I need to do

 

[RedDuke]

Awesome, cool story bro. But we can't do anything to help you, why don't you go tell the government your idea so they can do something? Show us the kind of man your mama raised that takes the bull by the horns instead of bitching about it over the internet.

In the meantime, I got more buying of this dip that I need to do

I said many times here, they my biggest mistake was to know too much. Knowing what Tether ponzi was, I thought it would be shut down and then the whole crypto market would plummet. Never could have imagined it would be allowed to go this far.

congrats to all those who invested early!!!

We will see one way or the other how it will play out. But when 2 trillion valuations is based on a lie and fraud, can it be sustained indefinitely???? Will it be a self fulfilling prophecy? Time will tell.