06-22-2021, 09:38 AM
The China FUD to end all FUDs: Why today's Chinese crypto ban No 37 is extremely bul
<!-- SC_OFF --><div class="md"><p>During my almost 4 years in crypto, C<em>hina</em> and <em>ban</em> have been single two most frequently seen words in a sentence - no competition. With each ban there was naturally less and less effect on the actual market. But it looks like recently the Chinese went all out with their crypto ban hammer on all levels (so conveniently coinciding with the final stages of the Digital Yuan launch).</p> <p>For a long time, <em>Chinese controlling Bitcoin and it's hashrate</em>, was a leading FUD of the opponents of Bitcoin in general. Well guess what, it's no longer valid - they might have hoarded millions of BTC, but they will no longer have 51% of the network power, and that's a game changer. </p> <p>Now with their Central Bank forbidding banks and payment providers to deal with crypto-related businesses, the FUD narrative seems to be virtually exhausted. They won't go on banning the actual ownership of crypto, since it's unfeasible (and their own courts define Bitcoin as an asset class that can't be confiscated on no substantial grounds).</p> <p>So it's way better to take this short-term beating, but to decouple from that authoritarian manipulative country for good.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/robis87"> /u/robis87 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o4sg8a/the_china_fud_to_end_all_fuds_why_todays_chinese/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o4sg8a/the_china_fud_to_end_all_fuds_why_todays_chinese/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>During my almost 4 years in crypto, C<em>hina</em> and <em>ban</em> have been single two most frequently seen words in a sentence - no competition. With each ban there was naturally less and less effect on the actual market. But it looks like recently the Chinese went all out with their crypto ban hammer on all levels (so conveniently coinciding with the final stages of the Digital Yuan launch).</p> <p>For a long time, <em>Chinese controlling Bitcoin and it's hashrate</em>, was a leading FUD of the opponents of Bitcoin in general. Well guess what, it's no longer valid - they might have hoarded millions of BTC, but they will no longer have 51% of the network power, and that's a game changer. </p> <p>Now with their Central Bank forbidding banks and payment providers to deal with crypto-related businesses, the FUD narrative seems to be virtually exhausted. They won't go on banning the actual ownership of crypto, since it's unfeasible (and their own courts define Bitcoin as an asset class that can't be confiscated on no substantial grounds).</p> <p>So it's way better to take this short-term beating, but to decouple from that authoritarian manipulative country for good.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/robis87"> /u/robis87 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o4sg8a/the_china_fud_to_end_all_fuds_why_todays_chinese/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/o4sg8a/the_china_fud_to_end_all_fuds_why_todays_chinese/">[comments]</a></span>Kind Regards R