I was already expecting the China ban sooner or later and here's why:
China is a very centralized, planned and bureaucratic economy where pretty much everything from investment sectors, to capital flows are following govenment guidelines.
Xi Jinping has recently banned VPNs and has been following a campaign of "internet sovereignty" and is now seeking internetional support for his cause:
Paypal works differently for people who are in Mainland China. You can recieve money though paypal but you cannot send it. It's part of that capital flows control.
With that being said, do you really think the government would just stand there and allow crypto currencies to move around freely and annonymously and escape all of these controls? The government wants to see everything they do.
Yes, this model is outdated and the only way I can see it going down is if there was enough business lobbying for more loose regulation on capital flows and bureaucracy overall which I don't see it happening.
Nathaniel Hughes
Are you retarded? The ban is temporary. NEO said they will work with the government.
Ethan White
eh, it's pathetic, but give it more time and people are gonna freak the fuck out and start publicly executing all government officials
Jayden Turner
once you realize this is the pattern, you start losing count how many times this has happened throughout history
Jack Martin
If it's to serve the government interests they might allow it but I don't see how. Unless they completely give up on anonymousity.
Eli Anderson
There is no ban, dumbass. It's just a chink whale tricking the simpleton chink commoners with idiotic FUD.
Dylan Diaz
I wouldn't be surprised if chink government was already trading crypto. They can create FUD at will, buy low and then pump it up.
Grayson Russell
Don't trust the chinks.
Josiah Roberts
Really? Post your short positions then.
Jace Roberts
>The officials on Thursday extended an invitation to the international community, saying that China, with the world's largest online population and advanced technology, was willing to share its "wisdom, experience and resources" in governing the internet with other countries.
Like they need it. Individuals looking for easy money maybe.
Sebastian Powell
My manufacturer in China seems me in payments in PayPal all the time
Noah Wilson
My fucking sides, internet magical money company that talk with the most economically closed nation in the universe.
Julian Ward
of course you don't see how. you're a brainlet
Wyatt Sanchez
Except it was a shit story. BTFD
Josiah Collins
>chink gov is one person
Asher Sanchez
Lmao I've seen this happen at least once before (in january).
>FUDish rumor comes from china on friday >markets dips hard and fast >recovers through the weekend >monday rolls around >china brings out new FUD >markets go into full panic and dump for a week
BTC FUD always (*always*) comes from China. This ICO and exchange getting banned FUD didn't come after a big rally for no reason, it was on purpose to strike the market at it's weakest and depress it.
If everything recovers fairly quickly and panic-free you can be certain they will strike again until the desired effect is achieved. Expect some new scary "news" coming out of China on monday.
Dylan Carter
working with communists? lol this is some top tier humor here
