BitShares Forum
Main => General Discussion => Topic started by: jae208 on March 29, 2014, 01:30:18 am
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So it seems like China is not being too nice to this new disruptive technology. Hmm I wonder why...
My view is that they are terrified about the effect such technologies will have on their centralized power. In my opinion I think that this move will only hurt them. These technologies can't and will not be stopped. The people of China will naturally gravitate towards greater freedom despite what their government/central bank says.
The other thing I'd like to point out is that Bitcoin or Bitcoin 2.0 technologies won't cease to exist or be limited simply because of this. There are still 6 Billion other people in the world that want Bitcoin... They just don't know it yet. What are your thoughts? I've provided a link to the article.
http://m.english.caixin.com/m/2014-03-27/100657518.html?m_referer=aHR0cDovL3d3dy56ZG5ldC5jb20vY2hpbmEtZGVtYW5kcy1hbGwtYmFua3MtY2Vhc2UtdHJhZGluZy1pbi1iaXRjb2luLTcwMDAwMjc4Mjkv
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Anyone else looking forward to a decentralized bank and exchange?
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Anyone else looking forward to a decentralized bank and exchange?
Sign me in!!! 8) +5%
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Anyone else looking forward to a decentralized bank and exchange?
Of course!! Haha That just mean a more explosive growth for Bitshares and greater profit for us 8)
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So it seems like China is not being too nice to this new disruptive technology. Hmm I wonder why...
My view is that they are terrified about the effect such technologies will have on their centralized power. In my opinion I think that this move will only hurt them. These technologies can't and will not be stopped. The people of China will naturally gravitate towards greater freedom despite what their government/central bank says.
The other thing I'd like to point out is that Bitcoin or Bitcoin 2.0 technologies won't cease to exist or be limited simply because of this. There are still 6 Billion other people in the world that want Bitcoin... They just don't know it yet. What are your thoughts? I've provided a link to the article.
http://m.english.caixin.com/m/2014-03-27/100657518.html?m_referer=aHR0cDovL3d3dy56ZG5ldC5jb20vY2hpbmEtZGVtYW5kcy1hbGwtYmFua3MtY2Vhc2UtdHJhZGluZy1pbi1iaXRjb2luLTcwMDAwMjc4Mjkv
China also builds great walls to protect itself from the world. Honestly those ideas were silly back then and are silly now. The great wall doesn't work. All it's going to do is keep China from being able to make Chinese versions of Bitcoin technology.
Maybe if they embrace technology they could control it rather than trying to ban it and have even less control. The technology is guaranteed to be used and the only question is who gets to use it.
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Anyone else looking forward to a decentralized bank and exchange?
Of course!! Haha That just mean a more explosive growth for Bitshares and greater profit for us 8)
Maybe it was fortuitous that the BitShares X snapshot happened before the crackdown, since it allowed many Chinese to get themselves written into the BitShares X genesis block so they'll be able to participate in the decentralized exchange.
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I really want to visit China because everything I know about the country is from the news and half of it is political propaganda from crazy people with interests in something.
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dont worry guys, facebook,twitter,youtube,wordpres,nytimes are banned in china, but they are still the best and fine.
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I found the description of common bad practices by Bobby Lee at CoinSummit (http://youtu.be/2M12zzwNkCo) a lot more disturbing than the risk of a China ban.
Along with the telltale signs to recognize those practises, he mentions Chinese exchanges padding volume numbers with zeros, selling to itself, repeating sales(without any real sales taking place), phantom liquidity causing flash crashes, which to me sounds a lot more damaging than the chance of these exchanges being shut down.
EDIT
I don't understand what he means by saying that it is a common occurrence in China. It's okay to mess with the numbers if everyone does it? Do Chinese traders like to be taken for a ride? Or is he only talking about the exchanges screwing over their customers and that it's okay if everyone does it?
Suddenly the ban on Chinese exchanges doesn't sound so draconian anymore.