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3500464 No.3500464 [Reply] [Original]

China to block access to bitcoin exchanges and possibly miners so they can't mine anymore.

https://twitter.com/btcdrak/status/908998917995552776


70% of all coins are mined in China. If this is true crypto is over until ethereum gets PoS.

>> No.3500473

>>3500464
Do you even know how supply and demand works?

>> No.3500486

>>3500473
Explain.

>> No.3500487

Good. Less dumping by the insect pieces of shit with their heavily subsidised electricity.

Seriously, any directive that diminishes gook participation in crypto is nothing but fantastic news.

>> No.3500489

>>3500464
>70% of mining stop
>difficult lowers
>everyone else continues to mine
>stays the same
>china gets no money

seems about right

>> No.3500495

>>3500464
wow, how convenient on the timing of this. Just when bitcoin is starting to drop.

Really activates my almonds.

Also, anyone can type this shit up on Microsoft word.

>> No.3500502

Mining shouldn't be the problem unless the mining power is used to attack the network. However it will reflect bad on the prices for a period of time.

>> No.3500503

>>3500464
so much stupid in one post

really not sure what is worse .... thinking china ban is bad, or that PoS actually works

>> No.3500530

>>3500464
This could also mean that the Chinese economy is very bad and about too implode.

Why else would they feel the need to ban bitcoin right about now?

>> No.3500543

Bitcoin will survive, difficulty will adjust.

>> No.3500559

Japan is new china anyway

Have fullly embraced crypto and are about to go hard in mining

https://qz.com/1071926/japans-gmo-internet-group-plans-a-300-million-investment-in-bitcoin-mining/

>> No.3500582

>>3500464
show the red meme stamp on all government documents or i'm not buying your retarded FUD bullshit

>> No.3500588

>>3500530
They're on the ropes, no doubt. There has been a big diversion of foreign investment away from China into south east Asia that must be starting to take it's toll.

>> No.3500596

>>3500582
What is so retarded about the document? Have you had your head up your ass the past two weeks?

>> No.3500608

SURELY IT MUST BE TRUE THIS TIME

>> No.3500662

>>3500596
china wants capital controls. there's no reason for them to ban miners you fucktard. holy shit, the IQ of this board has dropped more than /pol/. SLEL SELL SELl

>> No.3500673

>>3500662
China wants to get rid of BTC altogether and issue a government controlled cryptocurrency you fuck.

>> No.3500680

>>3500464
as someone who knows exactly whats about to happen, BAIL NOW and buy in when it hits around 3200, Get dem satoshis

>> No.3500689

I read chinese and it basically says to "report high frequencies or strange occurences" for bitcoin over tor and vpn, to monitor miner communication activity and to contact local authorities to restrict such communication if necessary

>> No.3500697

>>3500673
they're going after exchanges. exchanges will become licensed . they're not going to bleed money from domestic economy. where the fuck you guys even get this stuff? sell everything you get rich mongrel

>> No.3500709
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3500709

>>3500486

>> No.3500710

>>3500662
And the only way to have total control over crypto would be for the state to also assume control of the miners the same way that they are doing to the exchanges. There is no way that they're going to leave the mining loophole open.

>> No.3500712

>>3500697
to follow up
>china is finally good at something
>ban it

strangely not everyone is as retarded as u

>> No.3500720

>>3500473
That would be true if the Chinese weren't also the main drivers in demand

>> No.3500725

>>3500697
You salty chink fuck! Buy high, chink faggot.

>> No.3500728

>>3500710

applicable >>3500712

go be 12 years old somewhere else

>> No.3500735

>>3500720
They aren't though. It's a fucking meme. Sales are just fine without their fuckery.

>> No.3500741

>>3500725
not even chinese u fucking nerd. american from dixie, eat dirt

>> No.3500746

>>3500473
Brainlet. Worth of bitcoin goes down the more centralised it gets, slower confirmations, higher tx fees, less movement of currency

>> No.3500754

>>3500728
Btc is a double edged sword you fucking retard. Right now it is responsible for more wealth bleeding from China than it is bringing in. Hence, it is being completely locked the fuck down.

>> No.3500766

>>3500754
yea, at the EXCHANGES. which will require a higher level of monitoring, which will then be licensed.

>> No.3500790

>>3500754
no wonder ur so dumb, you have no reading comprehension

>> No.3500797
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3500797

>>3500464
>crypto is over until ethereum gets PoS
>he doesn't know about iota

>> No.3500837

>>3500766
The exchanges will be so over regulated from now on that they'll be effectively state run. The miners likewise. Stop listening to Jihan. He's hardly an unbiased source.

>> No.3500947

https://twitter.com/btcdrak/status/909020264742211584
https://pastebin.com/6vKp6rh6
ENGLISH TRANSLATION ABOVE.


https://twitter.com/WhalePanda/status/909000193705693185


Welp, back to fiat we go.