China Cryptocurrency Ban

[BlueKelah]

End of the road? Bitcoin back to $10?? Time to short ?

http://www.scmp.com/business/banking-fin...letely-ban

China is to block all websites related to cryptocurrency trading and initial coin offerings (ICOs) – including foreign platforms – in a bid to finally quash the market completely.

“To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs,” said an article published on Sunday night by Financial News, a publication affiliated to the People’s Bank of China (PBOC).

[Wildreamz]

Very interesting  

But can they stop people from using VPN to access these foreign platform?

Certainly will kill all the mom and pop speculators though.

[Life is a game]

The thing is if CN and IN issue ban on the coins then what's the use of the coins now. Just for speculation if no country wants to use it. The coins at 10000 has same value as the same coins at 10 by then.

Imo currency only has value if the world recognises it. If only ang mo countries recognise the coins but not the rest of the world then it's not legal tender.

Sent from my SM-N9005 using Tapatalk

[money]

the strong supporters of bitcoin failed to see that the coins are not worth much if more and more countries start to legislate against it.

[opmi]

Very interesting  

But can they stop people from using VPN to access these foreign platform?

Certainly will kill all the mom and pop speculators though.

i thought China already ban outward VPN.....

[BlueKelah]

Very interesting  

But can they stop people from using VPN to access these foreign platform?

Certainly will kill all the mom and pop speculators though.

i thought China already ban outward VPN.....

It's actually in the process of "regulating" VPN, not outright banning it. According to recent announcement by Zhang Feng, chief engineer from the Ministry of Industry and Information Technology in China, ISP is expected to comply by end of March 2018. But in China regulated is the same as saying "we own you, your info and privacy" For all intent and purposes , crypto trading platforms are as good as shutdown, but at least chinese will have a last chance till end of march to get their fund out from whatever foreign platform they are using..

more details here.
http://www.techradar.com/news/china-will...next-month
China will block all non-approved VPNs from next month

I suspect China's move to ban crypto is less about the financial risk the cyrpto bubble started posing, but rather the capital outflows occuring via bitcoin, which they are really concentrating on, in order to control their financial system.

[opmi]

I think this blogger compromised her blog credibility by going crypto...

http://www.sgbudgetbabe.com/2018/02/cryp...green.html

http://www.sgbudgetbabe.com/2018/02/178-...rkets.html

[BlueKelah]

I think this blogger compromised her blog credibility by going crypto...

http://www.sgbudgetbabe.com/2018/02/cryp...green.html

http://www.sgbudgetbabe.com/2018/02/178-...rkets.html

Bitcoin at 6000 Liao. Gonna be a sea of red for her pretty soon. Imo, most finance bloggers are full of bull.

[specuvestor]

Err u mean a blogger named Budget Babe has credibility in the first place???

Shucks I must be missing something and should have rename myself surewinspecuvestor to gain more credibility  

PS I got no nice back to show maybe I’ll have to show my “fabs” instead in my profile pic

My boring views on exciting bitcoins to stay in topic:
https://www.valuebuddies.com/thread-3136...#pid144814
https://www.valuebuddies.com/thread-8516...#pid144912

[karlmarx]

I think this blogger compromised her blog credibility by going crypto...

http://www.sgbudgetbabe.com/2018/02/cryp...green.html

http://www.sgbudgetbabe.com/2018/02/178-...rkets.html

Most bloggers are motivated by the number of visits to their site.

And a finance blog's number of visits can grow exponentially if they make the right investment call.

Since value investing requires a long gestation period before one can affirm that it is a good (or bad) call, and since most visitors to finance blogs are not patient enough to hang around for a few years to see if you are right, most finance bloggers will be pressured to make investment calls of short(er) time horizon. And as most visitors to finance blogs want to see a high percentage of good calls, the finance blogger is pressured to constantly search for 'the next thing that's going to rocket,' and present his/her investment ideas frequently. Again, this encourages a short-term mode of operation.

If the investment horizon is short, and the frequency of blog post publication is high, then the effort that goes into the research of each investment idea is unlikely to be sufficient to produce good investment calls. So it isn't a surprise that some of the more-prudent-looking bloggers (this isn't the only one) were drawn into crypto trading.

Having an inner scorecard, taking a long-term view, and being very 'choosy' in the choices you make; these are a few tenets of value investing. But few of the so-called value-investing bloggers actually practice this, because of the conflicting demands from being a blogger. These bloggers will be far better off not blogging, since the distraction it causes is detrimental to investment success. The focus, instead, should be on improving one's craft. Showcasing your work to the world only makes sense after you've created a masterpiece. If you're serious about your craft, that is.