Space Lynx
Astronaut
- Joined
- Oct 17, 2014
- Messages
- 15,800 (4.58/day)
- Location
- Kepler-186f
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.
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.