Posted on 09/25/2021 7:39:05 AM PDT by Scarlett156
China’s central bank said all cryptocurrency-related transactions are illegal, reinforcing the country’s tough stance against digital rivals to government-issued money.
In a statement posted on its website on Friday afternoon, the People’s Bank of China said the latest notice was to further prevent the risks surrounding crypto trading and to maintain national security and social stability.
Cryptocurrencies weakened following the statement.
(Excerpt) Read more at wsj.com ...
Oh no, they banned Bitcoin AGAIN!
They must be really close to launching their own Crypto.
This is the seventh time since 2013 that the ChiComm apes have banned Bitcoin. Now that the Commies have shaken out the weak hands, they’ll swoop in and buy.
Already started, last year. In April 2020, China also began testing its own electronic currency—the e-CNY, or digital yuan—a project that could put the government in more direct competition both with cryptocurrencies and with corporate payments systems.
https://www.google.com/search?q=does+china+have+its+own+cryptocurrency&ei=jhVPYYuGD8CLwbkP7rKsmAM&oq=does+china+have+its+own+&gs_lcp=Cgdnd3Mtd2l6EAEYAjIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQyBQgAEIAEMgUIABCABDIFCAAQgAQ6BwgAEEcQsAM6CAguEJECEJMCOgUILhCRAjoOCC4QgAQQsQMQxwEQowI6CwguEIAEELEDEIMBOg4ILhCABBCxAxDHARDRAzoICAAQgAQQsQM6BQgAEJECOg0ILhCxAxDHARCjAhBDOgsIABCABBCxAxCDAToICAAQgAQQyQM6BQgAELEDSgQIQRgAUOrukQRYn5aSBGD5qpIEaANwAngAgAGJAogBqhySAQYxLjIwLjOYAQCgAQHIAQjAAQE&sclient=gws-wiz
HODL
Just the beginning. There will never be a currency not controlled by government, who thought they could have that?
Bitcoin is currently 42k.
Bitcoin is bigger than China.
Bitcoin owners better create an army, or they will be crushed like a bug.
Don’t even have to crush them, just turn off the electricity.
Dunning-Krugerrands...
Government “crpyto” isn’t crypto. It is little more than a digital method to use the national fiat currency. That make government crypto basically a sort of debit card.
Turning off the power or the internet would prevent all money transactions. When the power comes back up, Cryptocurrency (as an open distributed ledger) would be back instantly while all non cryptocurrency accounts will be utterly impossible validate.
At least for the moment at any rate. 🙂
Seems like a lot of things are making bitcoin fall these days? One nation accepts it as currency, and it supposedly causes the price to drop, then another bans it, causing price to drop.
It’s like the confluence of rivers - strong currents hitting each other and creating massive volatility.
I think it’s best to choose an amount of money you can risk and let it ride the river. Ignore the days and weeks. Look at months and years.
In other words, HODL.
We took our initial investment out, after a big run up. It is all not “house money.”
Our strategy now is HODL!
some of the most popular ways to get money out of Communist China:
1) Forging transport invoices and shipping contracts
2) Forging trade records
3) Re-using invoices
4) Faking transaction amounts for customs
5) Putting money in other people’s accounts and asking them to transfer money in installments
6) Going through underground banks
7) Using invalid custom clearance forms
8) Creating false reasons to explain to banks the need for transfers
9) Diamonds and other compact items of high value
10) Chinese Cultural Societies or Tongs
And if you happen to own bitcoin. You can leave in your underwear, and when you arrive somewhere else, simply log on to a computer and you brought all your money with you.
—”and when you arrive somewhere else, simply log on to a computer and you brought all your money with you.”
How is this different from any online account at Robinhood or MLPFS...?
Bitcoin seems to be operating outside of causal influences at the moment, like the TulipMania in Holland... for a while at least.
I’m a Jonah when it comes to stuff- so i avoid investing- but i just noticed a few articles talking about the swings because of both acceptance and rejection by countries- thought it was weird
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