I don't actually think their laws will get rid of crypto.
A single country can not eliminate bitcoin, see the recent China FUD, bitcoin was down 5% to a price around $41000, but just few days after, the price soar to over $50000. Bitcoin price now at $57000.
Topic: What will be the effects of China's central bank declaring all crypto illegal? - page 5. (Read 512 times)
October 12, 2021, 10:32:57 AM
October 12, 2021, 03:45:08 AM
I don't actually think their laws will get rid of crypto.
But discourage many people from using/owning cryptocurrency.
The CCP has planted the seeds of the rebellion that will throw them out of power and they don't even know it.
Obviously they know since there were many similar attempt.
Instead, people who don't like being under the harsh thumb of the CCP will utilize privacy cryptos like Monero
If you want privacy, you can use bitcoin, but you will have to learn ways to have maximum privacy while having bitcoin, Monero is regarded as anonymous coin as no open ledger for transactions. Also, did you think Chinese (the citizens) will never use bitcoin again? They will and Chinese government will bring up another FUD. Bitcoin and decentralized currencies are not easy to restrict.While it's true, Monero is preferable option since user carelessness is less likely to reduce privacy.
October 12, 2021, 03:27:34 AM
I don't actually think their laws will get rid of crypto.
A single country can not eliminate bitcoin, see the recent China FUD, bitcoin was down 5% to a price around $41000, but just few days after, the price soar to over $50000. Bitcoin price now at $57000.Instead, people who don't like being under the harsh thumb of the CCP will utilize privacy cryptos like Monero
If you want privacy, you can use bitcoin, but you will have to learn ways to have maximum privacy while having bitcoin, Monero is regarded as anonymous coin as no open ledger for transactions. Also, did you think Chinese (the citizens) will never use bitcoin again? They will and Chinese government will bring up another FUD. Bitcoin and decentralized currencies are not easy to restrict.The battle of bitcoin is against the world leaders at large. It is not only against China. Till bitcoin begins to fight back, China will loose nothing.
I do not think so. One thing about bitcoin is that individual have their opinion, you will see a leader that will support bitcoin while another leader againsting bitcoin, that is just what bitcoin is. Another thing is how a country is operating, we can see how Donald Trump did not support bitcoin while Warren Buffett is a bitcoin critic, but yet USA has the highest number of bitcoin ATMs and high bitcoin adoption. China is more subjected to control by force from Chinese government. 
October 11, 2021, 05:58:03 PM
The battle of bitcoin is against the world leaders at large. It is not only against China. Till bitcoin begins to fight back, China will loose nothing. Yes, it is also the Chinese adage that says "an enemy of your enemy is your friend". This means that if China does what OP suggested, all other enemies of bitcoin will unit with China to follow sooth.
But you have nothing to bother about. The blockchain technology is technically synonymous to bitcoin. This technology is very strong and reliable beyond China destruction. Since it's the technology on which btc foundation is laid, you expect nothing than adoption by all.
But you have nothing to bother about. The blockchain technology is technically synonymous to bitcoin. This technology is very strong and reliable beyond China destruction. Since it's the technology on which btc foundation is laid, you expect nothing than adoption by all.
October 11, 2021, 03:28:26 PM
My taught On the Chinese people? It will make cryptocurrencies like Bitcoin illegal. Anyone who uses crypto becomes a criminal. I don't actually think their laws will get rid of crypto. Instead, people who don't like being under the harsh thumb of the CCP will utilize privacy cryptos like Monero. I won't be surprised if new internet and cryptocurrency privacy is developed because of the Chinese. There is now a market of potentially 1 billion people who want internet and monetary secrecy. Even if only 1 percent of the Chinese people want/need privacy crypto and internet that's a market of 10 million users! The CCP has planted the seeds of the rebellion that will throw them out of power and they don't even know it.
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