China Stock Sellers Frozen Out of 71% of Market

[cylonmaker2053]

Would be nice to see some of that cash flow from stocks to crypto

it will! just give it a few years...

[Akado]

Would be nice to see some of that cash flow from stocks to crypto

[cylonmaker2053]

China is the most populated country on the planet, humans love financial freeze
Ripple is the biggest POS crypto on the planet, humans love financial freeze

if you were an extraterrestrial dispassionately analyzing human finance systems, you would likely agree that this crazy species love da financial freeze!

[cylonmaker2053]

Ripple is trying to woo the Chinese market by freezing funds too!

http://insidebitcoins.com/news/not-so-decentralized-ripple-freezes-1m-in-user-funds/31862

Freezing funds is all the rage lately

http://www.theguardian.com/world/2015/jul/07/greek-firms-bank-freeze-imports

Good thing that UIA allows companies to freeze funds in 2.0

all the more reason to GTFO of centralized markets. no one ought to have the power to freeze your assets.

[karnal]

This is madness!

This.. is... CHINAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[cylonmaker2053]

re: the Chinese govt pumping stocks, that's horribly irresponsible, but i don't doubt it. the govt of the USSA also pumps most asset classes regularly, stocks and real estate being the most notorious. whether any govt official intends it to be the case, these pumps are typically massive wealth extraction mechanisms from poor to rich.

I fear, stuff like this will be alot easier to do with a decentralized exchange ..
ultimately .. trading your money becomes as easy as liking something on facebook or retweeting ..

perhaps, but decentralized trading platforms are free to compete with each other to come up with increasingly better solutions to protect investors and help them make more rational decisions. of course there will be plenty of mistakes along the way and some people will get burned, but it won't be anywhere near the scale of the crises that recurrently plague government-sponsored markets. the great thing about decentralization is that most scams and mistakes will be localized, not systemic.

the fundamental difference btw decentralized free-markets and centralized fiat systems is that the former continuously learn and adjust to what actually makes sense from past experiences; the latter make unilateral one-size-fits-all decisions by command with what makes sense politically, not necessarily economically or technologically.

[xeroc]

re: the Chinese govt pumping stocks, that's horribly irresponsible, but i don't doubt it. the govt of the USSA also pumps most asset classes regularly, stocks and real estate being the most notorious. whether any govt official intends it to be the case, these pumps are typically massive wealth extraction mechanisms from poor to rich.

I fear, stuff like this will be alot easier to do with a decentralized exchange ..
ultimately .. trading your money becomes as easy as liking something on facebook or retweeting ..

[cylonmaker2053]

I hope this will trigger some Chinese investors to invest more in BitShares :)

one could only hope! it could just as easily bankrupt a large % of their investing population and create a period of high risk aversion that'd keep people out of crypto.

of course, my personal lesson from this nonsense is that people shouldn't trust governments or centralized government-sponsored markets, assets, or currencies.

[cylonmaker2053]

Do they want it to get worse or something? They can't seriously think this would stop it crashing.

Not exactly a vote of confidence to inspire investment to hold the price up is it.

I've heard Chinese media was advising the entire population to invest, could this be an extraction of wealth from the poor? A pump and dump by the Chinese govt?

i'm a firm believer that freezing markets and halting trading erodes confidence, ultimately makes matters worse...but hey, you may have just given me an idea for a finance study :)

re: the Chinese govt pumping stocks, that's horribly irresponsible, but i don't doubt it. the govt of the USSA also pumps most asset classes regularly, stocks and real estate being the most notorious. whether any govt official intends it to be the case, these pumps are typically massive wealth extraction mechanisms from poor to rich.

[fav]

I hope this will trigger some Chinese investors to invest more in BitShares :)

[Permie]

Do they want it to get worse or something? They can't seriously think this would stop it crashing.

Not exactly a vote of confidence to inspire investment to hold the price up is it.

I've heard Chinese media was advising the entire population to invest, could this be an extraction of wealth from the poor? A pump and dump by the Chinese govt?

[cylonmaker2053]

http://www.bloomberg.com/news/articles/2015-07-08/china-trade-halts-hit-2-2-trillion-as-state-intervention-fails

Ouch. As if stopping the markets makes the problem go away...

insanity...

the world desperately needs truly decentralized currencies, assets, and exchanges. this is an idea whose time has certainly come.

[monsterer]

http://www.bloomberg.com/news/articles/2015-07-08/china-trade-halts-hit-2-2-trillion-as-state-intervention-fails

Ouch. As if stopping the markets makes the problem go away...

[fav]

http://www.bloomberg.com/news/articles/2015-07-08/china-trade-halts-hit-2-2-trillion-as-state-intervention-fails