It seems like bitcoin and other cryptocurrencies jut can not catch a break and goverments are really clamping down and trying to put a stop to cryptos and blockchain.
It honestly disappoints me greatly not just because of the value decrease but also that people wont stand up against governments and tell their governments what THEY want. Governments are there to help and abide by the willingness of the general population. Not rule over them and tel them what they can and can not do with what little they now own.
As of this morning China is at it YET AGAIN! It seems like they love creating bad news in an effort to try and stop the people. After banning crypto exchanges and ICOs the government is looking to clamp down even more by now banning ALL exchange platforms not allowing anyone in their country to take part in the free trade of the world wide crypto currency markets.
Uh yeah thanks China glad I don't live under that dictatorship which is clearly what is being shown here by these actions of late.
On top of this banks such as JPMorgan Chase, Bank of America and Citigroup said they no longer will support credit card orders of crypto. (This one I can understand as its essentially loaning someone money to buy an asset or gambling money in hopes for a profit) Its a very dumb thing to do honestly if you are currently doing this STOP your risking a hell of a lot of your future by doing so. I recommend on investing money you are willing to lose.
It's time to stand up people and stop letting big banks and governments control every bit your lives!
"Governments are there to help and abide by the willingness of the general population. Not rule over them and tell them what they can and can not do with what little they now own." I believe China sees crypto as a threat against their fiat that they would rather not deal with. That's a dismissal that a huge amount of the population is against. What gets me is that they are not banning gold ownership. The newness of the crypto interest is setting them off. Thoughts everyone?
Oh totally they are starting to lose power so they start reducing the things we the people can do to gain that power back, its honestly really changed in the last 100 years governments are not cut out to what they use to be and stand for. At some point you just go to far and the people snap. Banks are losing their power as well they are pretty much legal loan sharks, between crypto and peer to peer lending banks are losing a great deal of business and after bailing these jerks out with our tax money a few years ago I could care less about them.
Hey bitcoinflood, Just to let you know that its not only China and the US that are flexing their muscles. I currently live in Tonga but do my crypto business through Australia and Hong Kong, so my experiences can not be a direct comparison (but I think that in the current climate it is interesting to have an understanding of how things are developing in different parts of the world as ultimately I think there will be a more homogenised standpoint from different national authorities). Recently I, and everyone else who uses the on-ramp exchange that I use in Australia, received a communication instructing us NOT to put any message in the transaction record box that related to, bitcoin / cryptocurrency / or even the name of the exchange (it is a reputable exchange that has only provided an excellent service). The reason that they sent out this instruction was that they had been made aware that some banks had been putting a stop on any transactions that had such information contained in the message box. About a week or so prior to this the POLI service (a direct fiat transfer service operated by the Australian Postal Service, that many of the Australian exchanges use), stoped its service to these exchanges. With regards to JP morgans stance, I except your rational regarding people gaining access through their credit cards to invest in very speculative assets is not a good thing as, in my opinion, you should never get yourself into debt to invest, but does this also mean that from now on JP Morgan will stop people going into a casino maxing out their cards on chips and then blowing them all on the black jack table?? I don't think so. With regards to China banning all crypto currency advertising on its social media, I think that this is a direct comparison of what mark Zuckerberg is doing with Face Book, and hopefully if will reduce the amount of scam ice etc. I actually think that China is hard on crypto at the moment as they are simply working out how to handle it, I truly believe that it is highly unlikely that a nation that is so set of eccomonic imperialism is going to let an opportunity such as Blockchain tech slip through their fingers, but in any case the sooner all this FUD and friction is reduced the better. Anyway thanks for the post Cheers J
Greatly value your input here and insights thank you! You bring up a number of good points such as that in gambling and also it is very interesting to hear the going ons over in Australia as well. Cryptocurrency is worldwide and everyone's input into it means a great deal.
Exactly!!!, but do you think thst the governments can stop bitcoin?
They could just the way things are anymore a majority of people don't stand up to their governments and bad actions anymore its a real shame. They are to occupied by other things.
The essence of government has lost. Its not the government to dictate, its the people power to rule out. The govt. official must stand there as a representative and not a desision maker. However, if people around are all idiot and imbecile, one person could control anything using a nonsense organization know as govt.
Every day living in crypto land I see some things that really worry me about governments and people. I didn't notice it before but following crypto has opened my eyes and hopefully will soon open many others!
well, of course, these governments and bankers don't like cryptos because they lose their bread and butter for it being decentralized. that's why these people are looking for means to regulate it and i believe that they don't have the solution for it as of now. that's how greedy and corrupt these people are. what they only want, is to enslave us of their power.
yeah i agree with you and also whats really frustrating is that we dont know what will happen, as it keeps falling down even more!!! do you think it will stop soon or not?!
I would like to think so but as of late this is looking really bad. If we do hit a bottom here soon its going to take a good few months to start rebuilding confidence in investing in crypto again for many people.
On the other hand you look back at 6 months and you realize we where only at $2,000-$3,000 per bitcoin at that time. We are still over $7,000 which is a massive 100% + increase perhaps it is more of just a really over bought system getting back to its roots? Hard to say but im really looking forward to some stable uptrend here after a month and a half of sell off.
I am sure, there is a purpose behind it, maybe the money of the digital world is very manageable. so the government is asserting the lack of state deposits in the form of taxes
there is a big war usd and btc. many big bank and government made a decleration against btc. I am waiting for the victor of this bloody war. I hope cyrptos survive.
Unfortunately there are few governments in the world that abide by the willingness of the general population. Most of the politicians these days just try to get the most out of it for themselves during the period they are elected.
And of course "powerful" and rich governments are scared of cryptocurrencies and the blockchain technology because it challenges the power they have now over people.
In my opinion in the end cryptocurrencies will prevail because of the huge community behind them and the real world-changing cause behind them!
It is going to start turning into a major battle here soon I can just tell looking back on things already you can already see the gears turning.
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@bitcoinflood
This post has received a 5.00 % upvote from @aksdwi thanks to: @bitcoinflood.
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