Why is China Trying to Shutdown Crypto Currency? by scottybuckets

crypto · @scottybuckets · Sep 19 '17

$13.00

Why is China Trying to Shutdown Crypto Currency?

<center>
https://steemitimages.com/DQmQEVECfrpTj2LYDimA9GZYwJCaifgEumMp9PJkaqDzqfq/IMG_3158.PNG
</center>
<hr>
Crypto Currency and Bitcoin specifically have exploded in the summer of 2017. Just a few years ago, Bitcoin was trading for under $100 and recently it has shot up to over $5,000. But the Chinese Government is trying to shut Bitcoin down and it tumbled 41% last week. The dip below $3,000 had the world on pins and needles.
<hr>
<center>
https://steemitimages.com/DQmUcWVHe3sXLSTT1sKZzoWXCi912qo49bUPkftLj7zb5FF/IMG_3159.PNG
</center>
<hr>
China has banned token sales in a move that set the Crypto Currency world in panic. The government is trying to get the local exchanges to close in the next 10 days. If successful, it could be devastating, in the short term, for Bitcoin. 
<hr>
This appears to be a power move by the Chinese Government. They want to control and regulate the Crypto Currency market and fill their pockets. 
<hr>
<center>
https://steemitimages.com/DQmVxVEwScwKrn4a13FVv75rYLz5qRVi2WZoEQgo1LZ9iHE/IMG_3161.PNG
</center>
<hr>
Australia has already accepted and adopted the use of Bitcoin in their country. And if the Chinese Government would do the same, it would SKY ROCKET Bitcoin. But if they keep trying to hurt it, then the future will be scary.
<hr>
Let's all hope that China reverses course and they let the Crypto Currency market expand organically.  Cheers
<hr>

👍 theprophet0, thecryptodrive, steemsports, npl77, g-dubs, scottybuckets, mohammedfelahi, davidalexander, pogrbnyakm, ladezhennech, sartor, indyuk, kirjanovian, utka, veruny, dubyn, hogan22, eirsanctum, vichtalmin, vetromila, kukuruza, nrg, pufun, oliomaynen, onikiy, shatilina, darylcoats, fodich, friendi, ustihina, torinchevs, milsk, yupiter, dinozavrik, ekaters, custi, smil, kabandis, sinea, kev626, anomaly, ayoflash, duekie, cochillhammer, arilunedutaur, nanogivers

`post_id`	13,267,014
`author`	scottybuckets
`permlink`	why-is-china-trying-to-shutdown-crypto-currency
`category`	crypto
`json_metadata`	"{"app": "steemit/0.1", "format": "markdown", "image": ["https://steemitimages.com/DQmQEVECfrpTj2LYDimA9GZYwJCaifgEumMp9PJkaqDzqfq/IMG_3158.PNG"], "tags": ["crypto", "currency", "bitcoin", "steem"]}"
`created`	2017-09-19 23:38:30
`last_update`	2017-09-19 23:38:30
`depth`	0
`children`	4
`net_rshares`	5,080,141,551,219
`last_payout`	2017-09-26 23:38:30
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	10.224 SBD
`curator_payout_value`	2.771 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	1,399
`author_reputation`	24,173,154,808,041
`root_title`	"Why is China Trying to Shutdown Crypto Currency?"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (46)

voter	rshares	pct
thecryptodrive	110,237,458,097	15%
g-dubs	18,859,375,537	12%
npl77	55,376,804,003	100%
theprophet0	4,776,610,234,039	77%
anomaly	365,833,307	1%
arilunedutaur	99,525,858	100%
cochillhammer	99,702,255	100%
steemsports	69,067,479,307	15%
kabandis	427,182,524	100%
friendi	531,792,570	100%
smil	438,549,002	100%
darylcoats	537,247,199	100%
nrg	756,598,011	1.11%
scottybuckets	15,482,782,688	100%
nanogivers	65,648,629	100%
shatilina	615,123,455	100%
kev626	386,167,186	100%
mohammedfelahi	5,198,486,209	2%
dinozavrik	486,938,383	100%
duekie	133,018,244	100%
ekaters	473,932,800	100%
davidalexander	4,121,765,481	100%
fodich	533,745,316	100%
custi	439,859,200	100%
sinea	418,176,000	100%
torinchevs	505,446,670	100%
yupiter	499,211,666	100%
milsk	505,312,221	100%
onikiy	636,658,416	100%
ustihina	517,611,713	100%
oliomaynen	662,589,521	100%
ladezhennech	1,151,290,210	100%
kirjanovian	1,144,458,330	100%
vetromila	946,903,074	100%
utka	1,133,840,850	100%
vichtalmin	947,469,326	100%
pufun	678,973,319	100%
kukuruza	935,406,068	100%
sartor	1,149,027,603	100%
veruny	1,131,607,161	100%
hogan22	1,073,575,252	100%
indyuk	1,149,015,170	100%
dubyn	1,114,195,788	100%
pogrbnyakm	1,160,619,756	100%
eirsanctum	969,323,076	100%
ayoflash	365,590,729	100%

@mohammedfelahi · Sep 20 '17

$0.02

chinese market control of crypto

👍 mohammedfelahi

`post_id`	13,269,203
`author`	mohammedfelahi
`permlink`	re-scottybuckets-why-is-china-trying-to-shutdown-crypto-currency-20170920t002609905z
`category`	crypto
`json_metadata`	"{"app": "steemit/0.1", "tags": ["crypto"]}"
`created`	2017-09-20 00:26:12
`last_update`	2017-09-20 00:26:12
`depth`	1
`children`	0
`net_rshares`	8,664,143,682
`last_payout`	2017-09-27 00:26:12
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.021 SBD
`curator_payout_value`	0.000 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	32
`author_reputation`	4,559,202,571,190
`root_title`	"Why is China Trying to Shutdown Crypto Currency?"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
mohammedfelahi	0 B		8,664,143,682	4%

@covals · Sep 20 '17

I think that this market go up and down to much time by convenience of the power people with a lot of money. In china there are powerfull invester.

properties (22)

`post_id`	13,270,045
`author`	covals
`permlink`	re-scottybuckets-why-is-china-trying-to-shutdown-crypto-currency-20170920t004249065z
`category`	crypto
`json_metadata`	"{"app": "steemit/0.1", "tags": ["crypto"]}"
`created`	2017-09-20 00:42:48
`last_update`	2017-09-20 00:42:48
`depth`	1
`children`	0
`net_rshares`	0
`last_payout`	2017-09-27 00:42:48
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 SBD
`curator_payout_value`	0.000 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	147
`author_reputation`	959,891,668,598
`root_title`	"Why is China Trying to Shutdown Crypto Currency?"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000

@g-dubs · Sep 20 '17

$0.05

Blockchain is part of the plan in China... they're just establishing some control.

👍 g-dubs

`post_id`	13,272,017
`author`	g-dubs
`permlink`	re-scottybuckets-why-is-china-trying-to-shutdown-crypto-currency-20170920t012448284z
`category`	crypto
`json_metadata`	"{"app": "steemit/0.1", "tags": ["crypto"]}"
`created`	2017-09-20 01:24:48
`last_update`	2017-09-20 01:24:48
`depth`	1
`children`	0
`net_rshares`	18,859,375,537
`last_payout`	2017-09-27 01:24:48
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.047 SBD
`curator_payout_value`	0.000 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	82
`author_reputation`	136,982,997,921,497
`root_title`	"Why is China Trying to Shutdown Crypto Currency?"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
g-dubs	0 B		18,859,375,537	12%

@midgarosormr · Sep 20 '17 (edited)

It's China: their societal engineering is pretty much authoritarian and somewhat draconian.

I wouldn't be too shocked if, sometime in the future, they recorded every turd a citizen passes, and instituted some type of mandatory fibre-per-day count for their citizens.

Crypto, by its nature, undermines their near-paranoid control of their citizens' lives and finances. That's why they want the exchanges shut, while also looking at the technology behind bitcoin and other crypto-currencies for their own uses.

Nothing new there: there was news a few weeks back that Russia, while not shutting exchanges, was looking at the block-chain technology for its own economy.

It's true what they say: China is shit at innovation, but once they understand something developed by others, they can mass-produce/replicate it on a grand-scale (even if half the time their exported products are shoddily-made, heh).

properties (22)

`post_id`	13,302,932
`author`	midgarosormr
`permlink`	re-scottybuckets-why-is-china-trying-to-shutdown-crypto-currency-20170920t111215025z
`category`	crypto
`json_metadata`	"{"app": "steemit/0.1", "tags": ["crypto"]}"
`created`	2017-09-20 11:12:15
`last_update`	2017-09-20 11:14:06
`depth`	1
`children`	0
`net_rshares`	0
`last_payout`	2017-09-27 11:12:15
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 SBD
`curator_payout_value`	0.000 SBD
`pending_payout_value`	0.000 SBD
`promoted`	0.000 SBD
`body_length`	903
`author_reputation`	0
`root_title`	"Why is China Trying to Shutdown Crypto Currency?"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 SBD
`percent_steem_dollars`	10,000