• Welcome to TechPowerUp Forums, Guest! Please check out our forum guidelines for info related to our community.

China just announced all Cryptocurrency exchanges to be shut down

Joined
Oct 17, 2014
Messages
1,028 (0.78/day)
Likes
458
Location
Indiana USA and Ireland
Processor i7-8700k @ 4.7 no down-clocking 55 Celsius max temp
Motherboard MSI Z370 SLI Plus
Cooling NH-D14, Conductonaut IHS
Memory 16(2x8GB) 3200 13-14-14-31 1T + 1.390v
Video Card(s) MSI 1080 Ti The Duke @ 2050 + Kryonaut
Display(s) Freesync2 HDR400 Certified Zero-G 35" Curved 3440x1440 120hz
Power Supply Seasonic Focus+ 850w Gold
#1
https://www.technologyreview.com/s/609320/can-china-contain-bitcoin/

things are going to be interesting now. as I predicted... so if I am a Chinese citizen with Bitcoin and I don't exchange it for Yuan before they close them... I risk losing everything, because sure I can fly to become a citizen of another country, open a bank account, then withdraw it from that countries exchange, but that is tough to do and still risky it may not work.

Or Bitcoin will in and of itself truly become a currency that does not rely on exchanges, but seeing as how the big investors of recent year are looking at it as gold and not an actual currency... does not bode well. If a couple more countries announce what China has there will be a rush to cash in and no one will accept it (after initial clogging of bank wait times), will crash instantly.
 

theonedub

habe fidem
Joined
Apr 30, 2009
Messages
7,923 (2.39/day)
Likes
5,133
Location
Northern CA, USA
System Name Erakith || Asus UX305FA
Processor i7 3770k @ 4.2ghz 1.068v || Intel Core M 5Y10 @ 800mhz
Motherboard Gigabyte Z77X-UP4 TH || ASUS OE
Cooling EK Supremacy, D5 w/ EK Top, 2X EK-CoolStream XTX 360 & Photon 270 Res || !PASSIVE!
Memory 16GB Samsung 'Wonder' RAM || 8GB LPDDR3 1600
Video Card(s) EVGA 780Ti Classified HydroCopper || Intel HD Graphics 5300
Storage 256gb Corsair Performance Pro, 2TB Caviar Green, 2TB Samsung F4 || Toshiba 256GB SSD
Display(s) DELL Ultrasharp U2715H 27" || 13.3" 1080P IPS
Case CaseLabs Merlin SM8 || Aluminum Unibody
Power Supply NZXT Hale-90-1000-M
Mouse Logitech M705 Marathon
Keyboard Corsair Strafe RGB w/ Cherry MX Silent
Software Windows 10 Pro x64 || WIndows 10 Home x64
Benchmark Scores WCG & F@H Only
#2
Not sure if you read the article you posted..
 
Joined
Oct 17, 2014
Messages
1,028 (0.78/day)
Likes
458
Location
Indiana USA and Ireland
Processor i7-8700k @ 4.7 no down-clocking 55 Celsius max temp
Motherboard MSI Z370 SLI Plus
Cooling NH-D14, Conductonaut IHS
Memory 16(2x8GB) 3200 13-14-14-31 1T + 1.390v
Video Card(s) MSI 1080 Ti The Duke @ 2050 + Kryonaut
Display(s) Freesync2 HDR400 Certified Zero-G 35" Curved 3440x1440 120hz
Power Supply Seasonic Focus+ 850w Gold
#3
Not sure if you read the article you posted..
from the article "Chinese regulators made it clear that BTCC and other domestic virtual-currency exchanges had to close, an attempt to make it harder for the general public to enter the market and buy bitcoins.
Lee says that he was neither shocked nor panicked, just dismayed. “Ah, finally, the party’s over,” he thought. “The party has to end sometime.”
 

theonedub

habe fidem
Joined
Apr 30, 2009
Messages
7,923 (2.39/day)
Likes
5,133
Location
Northern CA, USA
System Name Erakith || Asus UX305FA
Processor i7 3770k @ 4.2ghz 1.068v || Intel Core M 5Y10 @ 800mhz
Motherboard Gigabyte Z77X-UP4 TH || ASUS OE
Cooling EK Supremacy, D5 w/ EK Top, 2X EK-CoolStream XTX 360 & Photon 270 Res || !PASSIVE!
Memory 16GB Samsung 'Wonder' RAM || 8GB LPDDR3 1600
Video Card(s) EVGA 780Ti Classified HydroCopper || Intel HD Graphics 5300
Storage 256gb Corsair Performance Pro, 2TB Caviar Green, 2TB Samsung F4 || Toshiba 256GB SSD
Display(s) DELL Ultrasharp U2715H 27" || 13.3" 1080P IPS
Case CaseLabs Merlin SM8 || Aluminum Unibody
Power Supply NZXT Hale-90-1000-M
Mouse Logitech M705 Marathon
Keyboard Corsair Strafe RGB w/ Cherry MX Silent
Software Windows 10 Pro x64 || WIndows 10 Home x64
Benchmark Scores WCG & F@H Only
#4
That means for now, Bitcoin has passed the China test. “Bitcoin itself did not break after China banned it,” Lee says. The virtual currency has delivered on its promise that it could not be defeated by any government, even one as powerful as China’s. Or, as Lee puts it, “Every time you try to whack Bitcoin and it doesn’t die, it becomes stronger.”

Plus this news is from last week. Doesn't look like doomsday at all :laugh:
 
Last edited:
Joined
Oct 30, 2008
Messages
1,471 (0.42/day)
Likes
660
Processor 3930K
Motherboard Asus X79 DELUXE
Cooling WATER
Memory 16GB 2133 G skillz
Video Card(s) Asus 2 X 780TI DCII OC
Storage SEVERAL SSD"S
Display(s) Catleap/Yamakasi 2560X1440
Case D Frame MINI drilled out
Audio Device(s) onboard
Power Supply Corsair TX750
Mouse DEATH ADDER
Keyboard Razer Black Widow Tournament
Software W10HB
Benchmark Scores PhIlLyChEeSeStEaK
#5
:roll: The sky is falling the sky is falling!~!!!!! OH WHAT SHALL WE DO...............:fear:(not yet)
 
Joined
Oct 17, 2014
Messages
1,028 (0.78/day)
Likes
458
Location
Indiana USA and Ireland
Processor i7-8700k @ 4.7 no down-clocking 55 Celsius max temp
Motherboard MSI Z370 SLI Plus
Cooling NH-D14, Conductonaut IHS
Memory 16(2x8GB) 3200 13-14-14-31 1T + 1.390v
Video Card(s) MSI 1080 Ti The Duke @ 2050 + Kryonaut
Display(s) Freesync2 HDR400 Certified Zero-G 35" Curved 3440x1440 120hz
Power Supply Seasonic Focus+ 850w Gold
#6
:roll: The sky is falling the sky is falling!~!!!!! OH WHAT SHALL WE DO...............:fear:(not yet)
Only way for sky to fall is United Nations making everyone ban in order to be a member of the United Nations, and governments are far to slow and petty to ever allow that, the main 5 I mean.

So yeah Bitcoin is here to stay, I just wish the tech was better, this whole waiting a week for my transaction to go through was not supposed to be what Bitcoin was about...
 
Joined
Aug 20, 2007
Messages
8,701 (2.21/day)
Likes
7,846
System Name Pioneer
Processor Intel i7 8700k @ 5.0 GHz All-Core + Uncore & AVX Offset @ 0
Motherboard ASRock Z370 Taichi
Cooling Noctua NH-U14S + A whole lotta Sunon and Corsair Maglev blower fans...
Memory G.SKILL TridentZ Series 32GB (4 x 8GB) DDR4-3200 @ DDR4-3333 14-14-14-34-2T
Video Card(s) NVIDIA Titan XP Star Wars Collectors Edition (Galactic Empire)
Storage HGST UltraStar 7K6000 3.5" HDD 2TB 7200 RPM (w/128MBs of Cache)
Display(s) BenQ BL3200PT (a 1440p VA Panel with decent latency)
Case Thermaltake Core X31
Audio Device(s) Onboard Toslink to Schiit Modi Multibit to Asgard 2 Amp to AKG K7XX Ruby Red Massdrop Headphones
Power Supply Seasonic PRIME 750W 80Plus Titanium
Mouse ROCCAT Kone EMP
Keyboard WASD CODE 104-Key w/ Cherry MX Green Keyswitches, Doubleshot Vortex PBT White Keycaps, Blue legends
Software Windows 10 Enterprise 2016 LTSB (From former workplace, yay no telemetry)
Benchmark Scores FSExt/TS: FSExt 14625:https://www.3dmark.com/fs/15253894 TS 10496:https://www.3dmark.com/spy/3557134
#7
yeah Bitcoin is here to stay, I just wish the tech was better, this whole waiting a week for my transaction to go through was not supposed to be what Bitcoin was about...
Tell me about it... it's what it's become though. Thank goodness bitpay now accepts alts...
 
Joined
Feb 17, 2015
Messages
326 (0.27/day)
Likes
253
Location
Southampton UK
System Name zx spectrum
Processor i7-4960x
Motherboard Asus Rampage IV Extreme
Cooling Corsair H100i
Memory 32Gb Kingston Hyper Beast Quad-DDR3 2400Mhz
Video Card(s) Saphire Tri-x R9 290 4GB
Storage 240Gb Kingston Hyper X SSD
Display(s) Sony 40'' LCD
Case Cooler Master Cosmos II Ultra Tower
Audio Device(s) On Board 7.1
Power Supply Corsair Ax1200i
Mouse Razer Death Adder 2013
Keyboard Razer Death Stalker Ultimate
Software Win 10
Joined
Aug 20, 2007
Messages
8,701 (2.21/day)
Likes
7,846
System Name Pioneer
Processor Intel i7 8700k @ 5.0 GHz All-Core + Uncore & AVX Offset @ 0
Motherboard ASRock Z370 Taichi
Cooling Noctua NH-U14S + A whole lotta Sunon and Corsair Maglev blower fans...
Memory G.SKILL TridentZ Series 32GB (4 x 8GB) DDR4-3200 @ DDR4-3333 14-14-14-34-2T
Video Card(s) NVIDIA Titan XP Star Wars Collectors Edition (Galactic Empire)
Storage HGST UltraStar 7K6000 3.5" HDD 2TB 7200 RPM (w/128MBs of Cache)
Display(s) BenQ BL3200PT (a 1440p VA Panel with decent latency)
Case Thermaltake Core X31
Audio Device(s) Onboard Toslink to Schiit Modi Multibit to Asgard 2 Amp to AKG K7XX Ruby Red Massdrop Headphones
Power Supply Seasonic PRIME 750W 80Plus Titanium
Mouse ROCCAT Kone EMP
Keyboard WASD CODE 104-Key w/ Cherry MX Green Keyswitches, Doubleshot Vortex PBT White Keycaps, Blue legends
Software Windows 10 Enterprise 2016 LTSB (From former workplace, yay no telemetry)
Benchmark Scores FSExt/TS: FSExt 14625:https://www.3dmark.com/fs/15253894 TS 10496:https://www.3dmark.com/spy/3557134
#9
So the biggest threat to wall-street (or at least, that's how people percieve it, correct or not) is being called a scam by wall-street?

Can I get a collective yawn?

Also, offtopic. This isn't a collective "Why bitcoin is bad" thread, it's about China (not the "wolf of wall-street" ) cracking down on exchanges. Or at least legal regulation of cryptocurrency... I mean try to at least loosely tie your hate in, people.
 
Joined
Feb 17, 2015
Messages
326 (0.27/day)
Likes
253
Location
Southampton UK
System Name zx spectrum
Processor i7-4960x
Motherboard Asus Rampage IV Extreme
Cooling Corsair H100i
Memory 32Gb Kingston Hyper Beast Quad-DDR3 2400Mhz
Video Card(s) Saphire Tri-x R9 290 4GB
Storage 240Gb Kingston Hyper X SSD
Display(s) Sony 40'' LCD
Case Cooler Master Cosmos II Ultra Tower
Audio Device(s) On Board 7.1
Power Supply Corsair Ax1200i
Mouse Razer Death Adder 2013
Keyboard Razer Death Stalker Ultimate
Software Win 10
#10
It's from the daily mail what did you expect lol.
 
Joined
Aug 20, 2007
Messages
8,701 (2.21/day)
Likes
7,846
System Name Pioneer
Processor Intel i7 8700k @ 5.0 GHz All-Core + Uncore & AVX Offset @ 0
Motherboard ASRock Z370 Taichi
Cooling Noctua NH-U14S + A whole lotta Sunon and Corsair Maglev blower fans...
Memory G.SKILL TridentZ Series 32GB (4 x 8GB) DDR4-3200 @ DDR4-3333 14-14-14-34-2T
Video Card(s) NVIDIA Titan XP Star Wars Collectors Edition (Galactic Empire)
Storage HGST UltraStar 7K6000 3.5" HDD 2TB 7200 RPM (w/128MBs of Cache)
Display(s) BenQ BL3200PT (a 1440p VA Panel with decent latency)
Case Thermaltake Core X31
Audio Device(s) Onboard Toslink to Schiit Modi Multibit to Asgard 2 Amp to AKG K7XX Ruby Red Massdrop Headphones
Power Supply Seasonic PRIME 750W 80Plus Titanium
Mouse ROCCAT Kone EMP
Keyboard WASD CODE 104-Key w/ Cherry MX Green Keyswitches, Doubleshot Vortex PBT White Keycaps, Blue legends
Software Windows 10 Enterprise 2016 LTSB (From former workplace, yay no telemetry)
Benchmark Scores FSExt/TS: FSExt 14625:https://www.3dmark.com/fs/15253894 TS 10496:https://www.3dmark.com/spy/3557134
#11
Joined
Feb 17, 2015
Messages
326 (0.27/day)
Likes
253
Location
Southampton UK
System Name zx spectrum
Processor i7-4960x
Motherboard Asus Rampage IV Extreme
Cooling Corsair H100i
Memory 32Gb Kingston Hyper Beast Quad-DDR3 2400Mhz
Video Card(s) Saphire Tri-x R9 290 4GB
Storage 240Gb Kingston Hyper X SSD
Display(s) Sony 40'' LCD
Case Cooler Master Cosmos II Ultra Tower
Audio Device(s) On Board 7.1
Power Supply Corsair Ax1200i
Mouse Razer Death Adder 2013
Keyboard Razer Death Stalker Ultimate
Software Win 10
#12
I blame it on the whisky i've been drinking. Walk of shame on countdown.
 
Top