[2018-02-06] Breaking News: China and Hong Kong to Hunt Down All Cryptocurrencie

bbc.reporter

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Quote from: digaran on February 07, 2018, 04:26:27 PM

Quote from: bbc.reporter on February 07, 2018, 03:31:36 AM

@Kakmakr. As I said, it's all about maintaining control, not just on its financial system, but also on its citizens. They will keep using FUD and try to misinform everyone into avoiding the cryptospace because it is bad, and that the government is there to protect them.

I reckon some Cryptonote based coins will be the future thanks to its always on privacy features and its Asic resistance. They will be hard to trace and to stop.

Who needs China? miners. they are not hunting down miners. hunting down services and exchanges, because they want to have services and exchanges of their own.

I reckon you missed the news articles about their government starting to go after the big Chinese mining farms as a result of wasteful electricity consumption? Let's fix that, read these.

https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/
https://www.forbes.com/sites/sarahsu/2018/01/15/chinas-shutdown-of-bitcoin-miners-isnt-just-about-electricity/#26c3e6a1369b
https://www.ccn.com/cryptocurrency-miners-may-move-out-of-china-following-government-crackdown/

After reading those, you will realize that it isn't only about control. The Chinese government simply does not want its country and its citizens to have anything to do with bitcoin.

prehisto

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Your Data Belongs To You

This FUD spreading is amazing.

Nothing New, almost everything has been banned in China already in recent past, what they can ban now? Speaking of cryptos?
Nothing will change.
Only FUD can have short term impact on market, thats it.

digaran

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🖤😏

Quote from: bbc.reporter on February 07, 2018, 03:31:36 AM

@Kakmakr. As I said, it's all about maintaining control, not just on its financial system, but also on its citizens. They will keep using FUD and try to misinform everyone into avoiding the cryptospace because it is bad, and that the government is there to protect them.

I reckon some Cryptonote based coins will be the future thanks to its always on privacy features and its Asic resistance. They will be hard to trace and to stop.

Who needs China? miners. they are not hunting down miners. hunting down services and exchanges, because they want to have services and exchanges of their own.

Quote from: Kakmakr on February 07, 2018, 01:58:39 AM

" The new AML Regulatory Framework does not re-shape the currently existing regime but is prepared and issued to strengthen efforts for combating money laundering, terrorist financing, maintaining and enhancing China’s international reputation and to contribute to public confidence in the financial system. " - The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA)

Do you recognise the scare tactics with the words that are being used? When a totalitarian regime wants full control, they usually use these scare tactics to acquire subservience to the state.

These Dictatorial and tyrannical, oppressive regimes will never allow any kind of freedom for their people. Bitcoin is definitely a threat to their power and control over their people. The Chinese government recognizes no limits to its authority and strives to regulate every aspect of public and private life. ^hmmmmmm^

They are not after controlling their people, they want to be the only services and exchanges.

bbc.reporter

legendary

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@Kakmakr. As I said, it's all about maintaining control, not just on its financial system, but also on its citizens. They will keep using FUD and try to misinform everyone into avoiding the cryptospace because it is bad, and that the government is there to protect them.

I reckon some Cryptonote based coins will be the future thanks to its always on privacy features and its Asic resistance. They will be hard to trace and to stop.

Kakmakr

legendary

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Leading Crypto Sports Betting & Casino Platform

" The new AML Regulatory Framework does not re-shape the currently existing regime but is prepared and issued to strengthen efforts for combating money laundering, terrorist financing, maintaining and enhancing China’s international reputation and to contribute to public confidence in the financial system. " - The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA)

Do you recognise the scare tactics with the words that are being used? When a totalitarian regime wants full control, they usually use these scare tactics to acquire subservience to the state.

These Dictatorial and tyrannical, oppressive regimes will never allow any kind of freedom for their people. Bitcoin is definitely a threat to their power and control over their people. The Chinese government recognizes no limits to its authority and strives to regulate every aspect of public and private life. ^hmmmmmm^

bbc.reporter

legendary

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Quote from: vit05 on February 06, 2018, 04:24:16 PM

This news has more than 24 hours. I think spreading like it's happening now is FUD. The market is starting to react and rise. It was not this time that they managed to destroy Bitcoin.

But is it really FUD? Should the price of bitcoin be the sole decider on what you think is FUD and what isn't?

I reckon our decisions on what FUD is or not are skewed towards the price because it's in our self-interest to do so. This is a mistake.

The PBOC is will always try to maintain control of their financial system, and bitcoin is a threat to that control. Think of the longterm ramification of this. Remember, bitcoin is also about our financial freedom, not just the price.

richardsNY

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Nothing that we didn't know already. It's like they just like to announce their actions in smaller steps instead of everything at once, likely to make things look worse than they in reality are. We have been flooded with negatively tinted articles trying to push the general sentiment down even further. At some point we'll reach a moment where people are just done with it and start ignoring everything. Seriously, if you want to get the price down, make it at least less obvious -- people already start to look through all this. Market has been oversold, and it's clearly time for the price to slowly move up again. It's mind boggling how easy people here can be manipulated....

CyberKuro

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Quote from: farfanx4 on February 06, 2018, 05:24:43 PM

That s not true and this is already old

It's a new news as coin idol had written the date.
It's just time matter until this plan realized which mean the storm does not end yet. Bitcoin price will fall again, maybe to $4000-$5000.
Unless people don't want to sell theirs as this happened before. Every exchanges, miners, crypto-related business have to move out of the country.

farfanx4

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That s not true and this is already old

vit05

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This news has more than 24 hours. I think spreading like it's happening now is FUD. The market is starting to react and rise. It was not this time that they managed to destroy Bitcoin.

Vladdirescu87

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China’s Central bank has officially announced it plans to ban all crypto-related activities and businesses in China. New regulations aim to crack down on all aspects and services of Bitcoin trading in both Mainland China and Hong Kong.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/china-hong-kong-to-ban-cryptocurrencies/

Topic: [2018-02-06] Breaking News: China and Hong Kong to Hunt Down All Cryptocurrencie (Read 163 times)