Quote (ofthevoid @ May 19 2021 10:58am)
I knew it was only a matter of time before China did something about crypto. I think as long as the west doesn’t take similar actions Bitcoin will be around. Reloading here for the 40-45k bounce.
You just need a few big markets to have an exit valve for it to be viable.
Also the shit with Elon is kind of annoying. I generally like him but his flip flopping on btc is bush league. You didn’t know about bitcoins energy consumption before buying over a billion in it? All of the sudden it dawned on you?
China FUD is happening all the time, you are getting stuck in the MSM propaganda.
Here is my understanding of the events i feel like that could be helpful. Reuter posted a misleading article yesterday about china banning trading, people starting retweeting it and it snowballed from there. Truth is they didnt ban crypto, it's an update on anti speculation law from years ago, they have been talking shit about crypto for a while it's not new stuff they are in reality adjusting policies. Just dig in the history if that make you feel nervous
Mainland China and Hong Kong are different, they can say they are banning trading in CN but support it through HK and Singapore.
What do you think would happen if they actually ban it? Remember they bannedor sensored facebook/twitter/google and went hard on amazon.. what happened?