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Topic: Bans on crypto now looks like a joke - page 6. (Read 585 times)

legendary
Activity: 882
Merit: 1018
April 18, 2023, 04:32:01 AM
#4
Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

America is a democratic nation that follows the Constitution and other laws. Most policies are debated in the legislative houses before enactment and implementation. Individuals and corporate bodies can sue the government because of any perceived unfriendly policy. This is not the case of China where all the powers rest on an individual or group of individuals. The legislative arm and the courts are puppets of the executive arm of government. From the above analysis, it is clear that the US will always be more friendly to cryptocurrencies than China except there is a change in the attitude and belief of the ruling class toward Bitcoin and others. The government of China wants to always have strict control over the financial and other activities of its citizen. But the US will move towards regulation which might not be effective because some states still have some level of autonomy.
hero member
Activity: 644
Merit: 592
Leading Crypto Sports Betting & Casino Platform
April 18, 2023, 04:25:51 AM
#3
As per your question, I would have thought that China would embrace crypto more than the US, but the reverse is the case.

However, the data at my disposal still shows that more Yankees are engaging in crypto than Chinese in terms of headcount and percentage of the population.

As of 2022 according to Coinbase, 20% of Yankees (66.38 million people) deal with crypto. While Trple-A puts the Chinese percentage to be 5.5%, which is 31.06 million people.

Regardless of the accurate figure, the fight against crypto is a lost course.
legendary
Activity: 1414
Merit: 1118
...gambling responsibly. Do not be addicted.
April 18, 2023, 03:24:03 AM
#2
Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?
Chinese government is looking for all possible ways to ban bitcoin but United States are looking for more ways to regulate exchanges and cryptocurrencies.

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.
China has even banned bitcoin more than eight or nine times.

Immediately after the last ban, bitcoin mining hashrates generated by Chinese went to zero. Chinese miners are the second with the highest bitcoin mining hashrates now, while United States miners are on the top list.

After the ban, we later knew that considering bitcoin as a property in China is a legal.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?
Government like control, but the technology which is blockchain that bitcoin came with is too decentralized for the government to handle and put under themselves. The government will be the government, but even many government officials like bitcoin.
sr. member
Activity: 882
Merit: 272
April 18, 2023, 03:09:48 AM
#1
Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?
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