China suspending local exchanges has positives for Steemit /Crypto's in general
With the Chinese Government suspending Crypto exchanges this week, i feel it could have positive effects for Steemit in general, here's why i think so
Positives
1, Most things banned by China have been very successful longer term , take Youtube Facebook & Google etc when they started they were banned or very heavily regulated by the Chinese Government
2, The price of BTC dropped effectively opening a buying opportunity for holders of BTC to buy more and potential newcomers to Crypto
3, Any advertising for Crypto coins is good advertising
4, With SBD being pegged around $1USD the opportunity for people in Bitcoin to lock away their cryptos in Steem is there - i say do it!
5, Less Volume going through China is a good thing for BTC in general - spread it around!
6, ICO's in China have been getting strange lately - very scammy to say the least especially when there is an ICO for Banana's
We need to remember that in 2012 China said it would ban Bitcoin yet exchanges continued to operate, i think it will only be a matter of time before the Chinese government re introduce exchanges as the Chinese Government want everything to be on a block-chain going forward.
This is me @kiwiscanfly
I send ur bid to @khoa for an upvote.
thanks for that :)
This comment has received a 31.25 % upvote from @khoa
thanks to: @khoa.@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@----------------------------------------------SEND ANY AMOUNT TO GET AN UPVOTE
I'm guessing it was all a plan by the bankers to drop the price of Bitcoin using China to do their dirty work.
Once they have bought a few trillion Bitcoin they will let it go up again.
That's my theory.
I think you are right, call it a scam wait for price to drop then buy buy buy
Some very good points. Thank you for the post.
I agree this was a good thing. However, I dont believe for a second that China is banning BTC or exchanges. China is allowing the miners to continue so it knows BTC is here to stay and it is happy. As for the exchanges, China will end up having plenty of exchanges, state owned ones.
They dont want to ban anything, they want to control it.
Yeah good points - The banking system want in :)
It is a mistake to think that they are not.
The banker playbook...demonize the asset while screaming for regulation to knock down the price so they can buy it and end up controlling it.
It works sadly.
@kiwiscanfly - oh my goodness, excellent facts Sir. BTC will rise & rise Sir. Excellent post & wish to resteem it.
+W+ [UpVoted & ReSteemed]
thank you have a great day
@kiwiscanfly,
You made my laugh by Point #1 :D A brilliant conclusion! And I was a lucky guy who could buy few BTCs on time :D
Have a nice day!
Cheers~
thanks man - steem on
This post has received a 41.19 % upvote from @khoa
thanks to: @khoa.@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@@SEND ANY AMOUNT TO GET AN UP VOTE
Congratulations @kiwiscanfly
MinnowsPower listed your post "China suspending local exchanges has positives for Steemit /Crypto's in general" as one of the top 10 upvoted and commented posts of the day...!!!
Extremely useful 5 positives. Excellent knowledge about market news.
100% Upvoted by @MinnowsPower
MinnowsPower is not a bot, I am a Crowdfunding Hybrid
One small UpVote of Yours build MinnowsPower and MinnowsPower will Not Forget Your Support...!!!
China is a great manipulator and we all have seen from time to time their non sense rules and regulations and then making things difficult for the rest of the world. They only wanted to create the fear and doubt nothing else. Bitcoin does not want China,Infact China wants it.
Some very cool point i guess its going to have a good impact as they banned the fake ones operating there by the way buy everything which china bans hahah
ok
This post has received a 2.05 % upvote from @bellyrub thanks to: @kiwiscanfly.
Thank you