Quote from: Hamphser on October 13, 2021, 11:12:58 PM

Quote from: adzino on October 13, 2021, 10:57:40 PM

Quote from: Novice08091 on October 11, 2021, 08:28:26 PM

My taught On the Chinese people? It will make cryptocurrencies like Bitcoin illegal. Anyone who uses crypto becomes a criminal. I don't actually think their laws will get rid of crypto. Instead, people who don't like being under the harsh thumb of the CCP will utilize privacy cryptos like Monero. I won't be surprised if new internet and cryptocurrency privacy is developed because of the Chinese. There is now a market of potentially 1 billion people who want internet and monetary secrecy. Even if only 1 percent of the Chinese people want/need privacy crypto and internet that's a market of 10 million users! The CCP has planted the seeds of the rebellion that will throw them out of power and they don't even know it.

Nothing will happen to the crypto market. Maybe a small crash and it will recover soon. Didn't the central bank already issue warning to their people about bitcoin? They have been doing this for years and now literally no one cares. You are correct. Those laws won't get rid of crypto currencies. People will still use it. As long as they are not getting involved with fiat or the banks, there is no way the government can do anything.

There might be some effects but those would be temporal because basing off with those strong supports below then there are lots are ready to accumulate or buy whenever the price had plummeted down neither because of the sentiments been causing or nothing at all.

They can declare all those bans that they want but doesnt mean that this market would be over. Support and demand are still strong as ever and would become more stronger as adoption is on the move.

China is just a single country even though finance capabilities are high but we know that the market doesnt only spin up on a single country.

It did temporarily brought the price down when they announced it and quickly bounce again.
China had isolated itself again from this new economy which other countries the rest of the world may even move into despite having CBDC of each country.

China may have different views on this so we'll just know what really will happen after years, a hundred years later we may know what else will happen but right now, crypto is going to reign.