[TechSpot] China declares all cryptocurrency transactions illegal, Bitcoin price plummets

[Space Lynx]

as I said before, the silence from the Democrats of the western nations not following China's lead on this ban is the loudest silence I have ever heard. they don't care about anything but pronouns. if the Democrats ever claim climate change is important to them, all anyone ever needs to do is point to this moment in history to refute their claims. it's that simple.

 

[R-T-B]

You can put lipstick on a pig and take it out on a date but its still a pig

Pigs make bacon.

as I said before, the silence from the Democrats of the western nations not following China's lead on this ban is the loudest silence I have ever heard. they don't care about anything but pronouns. if the Democrats ever claim climate change is important to them, all anyone ever needs to do is point to this moment in history to refute their claims. it's that simple.

Or they just see this for the transparent move that it is.

Crypto isn't at all the biggest factor in climate change. They honestly need to hit big industry with big regulations, mainly. They never will of course, so you aren't completely off target. It's depressing

 

[Vya Domus]

Also, to those of you who say China does not care about climate change, due to the rhetoric you hear over the news, etc. Keep in mind China has a very very ancient history. They still do care about environment in ways we probably don't even understand, see below about Chinese Aesthetics:

No, no one cares about climate change, they just pretend they do for a myriad of reason. Climate change, or more specifically the influence humans have over the climate because the climate changes anyway and that can't be stopped, is a subject too messed up and politized to get into right now. The point is, I don't think crypto is the greatest thing since sliced bread even though I trade it regularly.

However, the "concerns" about it's power usage and impact on climate are pathetic and clearly bogus when China builds the most coal power plants on the whole planet. Something else is at play here, my guess is that China would like to reap the profits from crypto but they don't like how democratized it is and how anyone else can at the same time.

 

[Chomiq]

No, no one cares about climate change, they just pretend they do for a myriad of reason. Climate change, or more specifically the influence humans have over the climate because the climate changes anyway and that can't be stopped, is a subject too messed up and politized to get into right now. The point is, I don't think crypto is the greatest thing since sliced bread even though I trade it regularly.

However, the "concerns" about it's power usage and impact on climate are pathetic and clearly bogus when China builds the most coal power plants on the whole planet. Something else is at play here, my guess is that China would like to reap the profits from crypto but they don't like how democratized it is and how anyone else can at the same time.

As I mentioned before - China has it's own official electronic currency which CCP wants to use to have better oversight over the citizens. If something is out of grasp of the CCP it will be banned, sooner or later.

 

[Space Lynx]

Pigs make bacon.


Or they just see this for the transparent move that it is.

Crypto isn't at all the biggest factor in climate change. They honestly need to hit big industry with big regulations, mainly. They never will of course, so you aren't completely off target. It's depressing

ye I no longer care anymore. I'll be dead within 20 years most likely, world has chewed me up and spit me out to many times to count. I no longer care about many things. I probably will just keep watching Carl Sagan Cosmos on repeat until my end comes. I hope everyone else enjoys their shiny new iphone every year... so blinded the species is...

 

[R0H1T]

If something is out of grasp of the CCP it will be banned, sooner or later.

It'll not be banned completely because I'm 1000% sure CCP & the other elites in the country make money off of it. So as long they're doing that crypto or any particular cryptocurrency will not be permanently banned.

 

[Vya Domus]

As I mentioned before - China has it's own official electronic currency which CCP wants to use to have better oversight over the citizens. If something is out of grasp of the CCP it will be banned, sooner or later.

Which means this is inconsequential for the western world at the end of the day because they follow up with the same decisions only when there is money to be made. But in this case every country can profit from crypto irrespective from what China does.

 

[erocker]

Where are you looking? Last 30 days have been a steady downward slope..
View attachment 218332

Yeah that looks about right, I suppose it is more of a slope.

 

[trog100]

china dosnt like bitcoin because it sees it as threat to its own state run digital yuan.. no other reason..

its all about power and control nothing to do with using less energy..

trog

 

[Space Lynx]

china dosnt like bitcoin because it sees it as threat to its own state run digital yuan.. no other reason..

its all about power and control nothing to do with using less energy..

trog

I don't care if that is true or not, you are missing my point. Let's say this is the 100% truth, its still an opportunity for people who care about the environment with left wing majorities to finally try to get a win in the name of climate change (again whether or not you agree with it), and the silence from those western countries is... rather shocking.

The truth is, short term greed and self-preservation at the subconscious level conquer all humans, even though we are capable of thinking long term, we will still be a short lived species. I find it interesting, rather than actually caring, at this point. /shrug an odd species we are indeed.

 

[Metroid]

BTC will crash very hard below 10k and then will stay around 15k next 4 years but for that to happen, bitcoin needs to go to at least 79k. Also like I said before, every time china headlines "bans cryptos", the effect is less and less, it's funny that people expect a headlines in order for cryptos to crash or pump, yes that is true in the past where fud used to take over, nowadays manipulators dont care about it anymore, headlines or not is crashing hard or pumping hard, meaning, be extremely careful when is very quiet, I remember that btc in 2015 crashed in january from 400 usd to 100 usd when people were not expecting a crash.

 

[trog100]

I don't care if that is true or not, you are missing my point. Let's say this is the 100% truth, its still an opportunity for people who care about the environment with left wing majorities to finally try to get a win in the name of climate change (again whether or not you agree with it), and the silence from those western countries is... rather shocking.

The truth is, short term greed and self-preservation at the subconscious level conquer all humans, even though we are capable of thinking long term, we will still be a short lived species. I find it interesting, rather than actually caring, at this point. /shrug an odd species we are indeed.

you are condemning human kind for being what it is lynx.. china creates most of the worlds pollution simply because it makes most of the worlds stuff.. the west consumes what china makes..

consuming less stuff would mean less pollution.. but that aint gonna happen willingly..

from what i read china has an energy crisis.. its currently applying energy use restrictions.. factories are being are being shut down or restricted on how many days they can operate..

in short they are trying to lessen energy use without pissing off the people too much and causing revolt.. it seems they are preparing for "something".. whatever that "something" is it aint good..

here in the UK i went down to my local garage to fill up my already half full tank.. the pumps were closed.. they blame it on a truck driver shortage.. food shelves will be next..

i am not overly bothered about not being able to fill my tanks.. the summer is over and i dont plan on going anywhere soon and i could do my local trips on an electric trike i just built.. i could honestly park my truck up for six months and it would not bother me that much..

they call it panic buying but a lot of it is not keeping adequate reserves in their fuel tanks.. the same applies to food.. people have become too used to buying it as they eat it.. again they dont keep enough in reserve.. i have enough "essentials" to last at least a month.. most people dont..

i think we are looking at bad times ahead.. all i am gonna say is.. it has f-ck all to do with bitcoin.. he he..

trog

ps.. china also seems to be clamping down heavily on personal wealth.. celebs and very rich people are being "disappeared".. china is moving more communist their own digital yuan as the only "money" will give them total control over this.. any alternative such as bitcoin has to be gotten rid of..

 

[lexluthermiester]

I guess it's all a matter of perspective:
View attachment 218354

Fair point. However, I'm only looking 30days back because the announcement happened within the last 30days and I'm watching the market reactions accordingly.

so blinded the species is...

No all of us..

 

[Space Lynx]

you are condemning human kind for being what it is lynx.. china creates most of the worlds pollution simply because it makes most of the worlds stuff.. the west consumes what china makes..

consuming less stuff would mean less pollution.. but that aint gonna happen willingly..

from what i read china has an energy crisis.. its currently applying energy use restrictions.. factories are being are being shut down or restricted on how many days they can operate..

in short they are trying to lessen energy use without pissing off the people too much and causing revolt.. it seems they are preparing for "something".. whatever that "something" is it aint good..

here in the UK i went down to my local garage to fill up my already half full tank.. the pumps were closed.. they blame it on a truck driver shortage.. food shelves will be next..

i am not overly bothered about not being able to fill my tanks.. the summer is over and i dont plan on going anywhere soon and i could do my local trips on an electric trike i just built.. i could honestly park my truck up for six months and it would not bother me that much..

they call it panic buying but a lot of it is not keeping adequate reserves in their fuel tanks.. the same applies to food.. people have become too used to buying it as they eat it.. again they dont keep enough in reserve.. i have enough "essentials" to last at least a month.. most people dont..

i think we are looking at bad times ahead.. all i am gonna say is.. it has f-ck all to do with bitcoin.. he he..

trog

ps.. china also seems to be clamping down heavily on personal wealth.. celebs and very rich people are being "disappeared".. china is moving more communist their own digital yuan as the only "money" will give them total control over this.. any alternative such as bitcoin has to be gotten rid of..

I never said any of that shortage stuff had to do with BTC etc, imo it has to do with Brexit. From what I read about the lorry driver shortage, 14,000 lorry drivers were deported under Brexit... that is a heck of a lot of drivers...

 

[las]

This is great news.

Let it die, like Chia.

 

[r9]

It is ironic that china was the country with the most mining activity, though.

That's what I was thinking but on the other hand they are also big of controlling their people.

 

[Chomiq]

I never said any of that shortage stuff had to do with BTC etc, imo it has to do with Brexit. From what I read about the lorry driver shortage, 14,000 lorry drivers were deported under Brexit... that is a heck of a lot of drivers...

But he criticised the DVLA for the "ridiculous" numbers of HGV driver applications waiting to be processed.

The DVLA said there were more than 54,000 pending applications for licences, although some of those may be renewals and drivers can continue to work while they are dealt with.

On Saturday, the government also announced it would offer temporary visas, lasting until Christmas Eve, to 5,000 foreign fuel tanker and food lorry drivers and 5,500 poultry workers in a bid to limit disruption in the build up to Christmas.
Other measures include sending nearly one million letters to drivers who hold an HGV licence - to encourage them back into the industry - and plans to train 4,000 people to become HGV drivers.

The UK had lost 72,000 drivers between the second quarter of 2019 and the same period in 2021, Ms de Jong said - partly due to people returning to the EU after Brexit.

Fuel demand should return to normal in coming days, say suppliers

Ministers are still seriously considering using the Army to drive tankers, sources tell the BBC.

www.bbc.com

It's a combination of Brexit, incompetence and people panic buying.

 

[ThrashZone]

@ThrashZone Let's say I agree with you and climate change isn't real, its no secret that coal plants can cause asthma issues, and environmental issues in real time, and it is a worrying trend to see yet another coal plant being fired up, as I said number 5 within a year this time in state of PA and they intend to ramp up production to go from 1800 BTC miners to 20k BTC miners. During the industrial revolution there were loads and loads of issues with pollution across the world, until we got it sorted, this is honestly a worrying trend in the wrong direction. I will however agree with you though, that the Dems should have allowed the Canada oil pipeline to be built, for national security reasons, but I also think alongside that national security of having that oil pipeline we should also slowly be building or incentivizing climate change RnD technology, we don't spend enough on proper high level RnD anymore.

Hi,
Think you read way too much into what I said lol

 

[trog100]

Fair point. However, I'm only looking 30days back because the announcement happened within the last 30days and I'm watching the market reactions accordingly.


No all of us..

you are looking 30 days back because that suits your purpose better.. the "announcement" happened about five days back and basically didnt cause much of a price drop.. it was pretty much a none event..

as for the UK gas shortage the so called panic buying wont last long.. its just a one off happening once the tank is full its full..

the HVG driver shortage will however last a fair bit longer..

but i repeat none of this has anything to do with crypto..

trog

 

[ThaiTaffy]

Unless your miners are running off a generator in which case "haha"

 

[lexluthermiester]

Yeah that looks about right, I suppose it is more of a slope.

Granted, that might change.

you are looking 30 days back because that suits your purpose better..

No, I'm looking 30 days back because the context of current events only require a look back that far. Do not assume the context of my intentions to suit your personal narrative.

 

[cst1992]

It's nice to see some countries still care about climate change.

Good. About time.

 

[R-T-B]

ye I no longer care anymore. I'll be dead within 20 years most likely, world has chewed me up and spit me out to many times to count. I no longer care about many things. I probably will just keep watching Carl Sagan Cosmos on repeat until my end comes. I hope everyone else enjoys their shiny new iphone every year... so blinded the species is...

Just take it one day at a time man. You never know what tomorrow might bring.

 

[xkm1948]

Crypto isn't at all the biggest factor in climate change. They honestly need to hit big industry with big regulations, mainly. They never will of course, so you aren't completely off target. It's depressing

This exactly. Target on Crypto is just an easy scapegoat.

 

[ThrashZone]

Just take it one day at a time man. You never know what tomorrow might bring.

Hi,
Yeah what happened to we all only have 5 or 10 years to go ?
Seems people have been saying they for decades but at least once a week here on tpu.