Is it just me or are you also seeing a Transfer of Power here?
Surely, when China made these announcements, Bitcoin bled and recovered after a few days.
During these days, I saw a tremendous change in the circulating supply of some exchanges that I've been using for trading.
Also, a number of Altcoins are enlisting themselves in to other exchanges.
This clearly shows how the market is adapting and China is gathering all the data that they can to further study Bitcoin and Altcoins altogether and how it will affect their economy.
Many countries will try this because of pressure from the investors in the stock market.
As pressure from stock investors rises, Bitcoin gains more foothold and popularity.
Hence, unstoppable.
I saw this forthcoming way before Bitcoin became popular. Someone will always try to pull Bitcoin down esp. if they're scared of what it can do.
In my own opinion, banning Bitcoin and ICOs is like putting fuel on a matchstick on fire near a pile of dead and dry leaves in a forest.
There's no stopping cryptocurrencies now. This is a demonstration of what decentralization means.
When your country exercise their right for a CryptoBan, CryptoInvestors will look for countries with CryptoFreedom.
Sooner or later, China will realize this and will accept Bitcoin Exchanges and ICOs wholeheartedly.
Do you agree? What are your thoughts on this?
Agreed!
Now, everybody will agree that it is naive to ban the Internet just because it can be used to communicate and circulate fraudulent and illegal information. But, it has been a time when the access to the Internet was restricted (before National Science Foundation Network (NSFNET) was decommissioned in 1995).
It feels equally funny to me to ban ICO and crypto-exchanges just because they can be used in fraudulent and illegal financing activities.
https://steemit.com/bitcoin/@ljiang/my-two-cent-on-china-ico-ban
Exactly! Fraud and illegal Financing Activities come in all forms.
I read your post and totally agree on your thoughts about Bitcoin and ICOs.
ICO is the new .com era and no one can stop it. Followed you and Thanks for dropping by @ljiang
Congratulations @joshruiz! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP