@dozerz Things that couldn't be totally banned, just "trimmed": not even by the inquisition, not even by any political regime: 1. alcohol 2. prostitution 3. topless sunbathing 4. peeing in public 5. jaywalking 6. p*rn 7. gambling In one form or another, these returned. Either they returned with full blast or, they returned in various forms (gambling was banned in Japan, but as a "compromise" pachinko - which is a form of gambling is tolerated and, in fact it is more popular than gambling in other countries). Plus: there are countries than ban some or all of the above (pretty much all of the ones above are banned in the Middle East, but most of them are "absolutely normal" in Brazil, Spain...). Nothing can be totally banned until there are some countries tolerating or even promoting them. Because those places become "paradises" for such behavior/domains of activity.
I posted it, in a relevant thread, just in case anyone would be wondering why BTC is dropping today. At no point did I say anything against crypto, it's all in your own head. Maybe sticking to the conspiracy theories thread is more suitable for you. Steady on.
Michael Saylor always has something original and powerful to say about cryptos - I'm not sure if you also listen to him, but this guy stands out from the crowd with his explanations, analyses. I recommend you this video (stands out from the vast majority of what you can listen here and there), you'll thank me:
looking forward to the next "china bans bitcoin" post in 3 months time from our own crypto technical analysts
when transacting in them make you a criminal subjected to prosecutions same way they treated Meng Wanzhou, after 3 years of house arrest, then just released on not guilty plea this is just a tool to by pass the USD, Iran can sell oil for bitcoins, to by pass the US sanctions, which are in itself illegal anyway, not many will recognised anyway...the oil trades continue.
For the hardcore Chinese coin traders (small or larger) this will makes zero difference, but will sway the average crypto holder just by nuisance factor. There is no online gambling in Korea but many use VPN or other means to gamble on International sites. A lot of sites was adversting on Korean social media for years, that got banned. Plus Korean CC cards and Saving account could be used to fund it quite easily as buying from ebay and accept return deposits for winnings. One day Korean banks stopped transferring to or accepting return depsoits. But still Im sure plenty of former addicts still find a way but for the average person who havent all the hoops and hurdles to jump over makes it a "Too Hard" basket Making something illegal doesnt stop it it just means the pool gets smaller.
Imagine the government banned owning physical gold and silver for your own financial safety. Everyone would pile in
The currently circulating theory is that PBoC is going to hose the system with liquidity to mitigate any Evergrande spillover internally in China... but they do not want that liquidity leaving China; thus the ban of foreign crypto trading providers. Remains to be seen if the ban works to stem the capital flight. As @Ipv6Ready points out, there's always ways to go over, under or around such curbs - but the difference to Korea is in China doing so can actually get you 'disappeared'.
But of course, you can't do kickbacks with a real thing like gold. $1million worth of gold is $1million worth. So they won't buy gold.
Suddenly BTC went up to 47,000 in a few hours. From around 41,000 t0 47,000. Did anything happen? What caused this tremendous spike?
"Bloomberg probably just asked Tether to comment on a story thats bad news. Tether informed their contacts that it’s pump time to deflect the bad news." https://twitter.com/Bitfinexed/status/1443902037230505990
rumour the fed not increasing rates until 2024 and jerome powell has no plans to ban crypto, haters gonna hate https://bitcoinmagazine.com/.amp/bu...ll-u-s-has-no-plans-to-ban-bitcoin-and-crypto
Interesting about the Tether fraud... https://protos.com/tether-market-manipulation-class-action-lawsuit-crypto-trader-new-york-court/
