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China outlaws all crypto transactions

moocow

Well-known member
Joined
Aug 8, 2011
Messages
2,310
Location
Vancouver, BC
China just ban all crypto based transactions in the country. Wonder what impact this is going to have since some of the bigger miners already pull stake and moved their farms somewhere else. Also not sure if the statement in the article about using oversea exchange would still be classified as illegal.

 

GeezerGamer

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Joined
Dec 29, 2019
Messages
369
Location
GTA
China being a beautiful country and full of fine peoples it's so frustrating their government is (insert all kinds of bad words here)!
I can elaborate if need be...............................
 
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CMetaphor

Quadfather
Joined
May 5, 2007
Messages
5,845
Location
Montreal, Canada
Good.
Crypto is basically a scam anyways. Unless you're running a warehouse full of miners you are essentially helping those that do to make more fake money. And the greed killed folding and seti at home, disgusting.
The day crypto dies we'll finally have the GPU market good itself too.
 

ipaine

Well-known member
Joined
Apr 13, 2008
Messages
3,182
Location
Edmonton, AB
Good.
Crypto is basically a scam anyways. Unless you're running a warehouse full of miners you are essentially helping those that do to make more fake money. And the greed killed folding and seti at home, disgusting.
The day crypto dies we'll finally have the GPU market good itself too.
Well same can be said about fiat currency too, the vast majority of us are really just helping the rich get richer. And I would be extremely surprised to see the GPU market return to normal. We will still have shortages, just maybe not as bad, but prices certainly will not drop.

So all in all, nothing much will change for anyone.

And while the price did drop yesterday I just looked now and price is about $54,000 per bitcoin, which was only $14,000 one year ago. And yesterdays drop went from $57,000 to $52,600 and now back to the $54k so not exactly plummeting.
 

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