Is the scenario described by Stephan Molyneux in my previous blog about to come true? The "big banks game" is to discourage potential buyers while infiltrating the blockchain
Ethereum, Bitcoin Crash After China Declares Initial Coin Offerings Illegal
by Tyler Durden
Sep 4, 2017 7:43 AM
Ethereum and bitcoin are crashing this morning, after China confirmed its recent threat of an ICO crackdown (reported here last Monday) when the central bank said on Monday that initial coin offerings are illegal and disrupt financial markets, according to statement on China’s central bank website. The PBOC also asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the controversial if surging market for digital token sales.
The crackdown was announced in a statement on the PBOC's website in which the central bank said that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. The regulator said that organizations or individuals that completed initial coin offerings should return the money raised, in move "to protect investors’ rights and properly handle risks," though it didn’t specify how the money would be paid back to investors.
Taking the recent SEC crackdown on Initial Coin Offerings several steps further, the PBOC also said digital token financing and trading platforms are prohibited from doing conversions of coins with fiat currencies. Digital tokens can’t be used as currency on the market and banks are forbidden from offering services to initial coin offerings, and are also also banned from offering pricing and information services on coins. Most importantly was the PBOC's determination that "digital token can’t be used as currency on the market" and its warning that "China will strictly punish over sustained offerings and law violations in completed ones." MORE: http://www.zerohedge.com/news/2017-09-04/ethereum-bitcoin-crash-after-china-declares-initial-coin-offerings-illegal
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Vital Information for Crypto-hunters... What Ron Paul On Dollarvigilante Did Not Say | Mystery Unveiled: Why was 21 million picked as the number of bitcoins to be created? | Are PM's/Fiat/Cryptocurencies Sharing The Same Flaw? Here Comes **The** Rabbit Hole! | Value Of Bitcoin? Global Monetary System Has Devalued 47% Over The Last 10 Years | From Gold To Fiat And Cryptocurrencies, And The Fate Of Irrational Exuberance | Bitcoin & The Manic Bullishness Of The Crowds Struck Again (WAM/Jeff Berwick Talk Cryptocurrencies) | Materialism At Odds With Freedom And Decentralization | 'Life First' To End Money! Beyond Anarchy| The Problem With Power VS The Zero-Sum Game Economy | Bitcoin Rush For Rich Only? 78% of American workers now living paycheck to paycheck!
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PBOC with the biggest temper tantrum in modern history... this is cute, really. :')
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right... never thought china would block it but it makes sense too
If you have certain central banks that allow it and others not, that will not make it easy for cryptoplayers. But I believe it is the plan.
Bitcoin, the NSA, and who originated cryptocurrencies Video – The Daily Economist
The white paper on cryptocurrencies was written (by the NSA) 12 years (!!!) before the elusive Anonymous Satoshi Nakamoto appeared on the scene to introduce his bitcoin, until then nobody knew who he was
skip to 20mins
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Excuse me while I go sell all of my cryptos now 😂 That was the last thing I needed to hear right now omg
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Or is it your OTHER theory that it is a NSA covert action encouraging people to spend their money on crypto and then crash it?
heheheheh...so confusing, are we being discouraged or encouraged to buy bitcoin?
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