China Banning Crypto Exchanges is Probably the Best News We Could Get and Here’s Why.

When a government can’t control something they ban it.

Let this be a good sign Crypto is doing what it is meant to do. When one of the most powerful governments in the world today decides to shut it down at the expense of billions of dollars crypto must be doing something right.

Too many local Chinese are under the incredibly wrong impression that the Chinese gov has banned or stopped crypto in general rather than understand only trading crypto has been banned. No government or single entity controls Bitcoin or countless other crypto’s, not how they work or how they are valued. This terrifies governments that work so hard to control the value of their own currency, their stock markets, interest rates and pretty much anything to do with money. Bitcoin and Crytpocurrency have turned the world upside down.

Now, myself, and many others are still completely in denial about China’s prompt exit, markets tumbled and some lost fortunes at the fear of Crypto leaving their busiest market. Within days it rebounded. Why? Because people realize this is probably a good thing for Crypto in general. Though the exchanges are not all closed yet they will be in within weeks and a mad scramble to move that crypto has momentum.

The coins and the tech is absolutely safe and continues to function as it had before, I should say not affected by this change. The only thing different is now is China will no longer benefit from the profits being spent in their country. China will miss out on the great talent that came here and will now leave, following the money. They will no longer be paying rent, going out for dinner, taking taxi’s and flights, hotels and all that jazz will no longer be money and taxes paid in China. It truly is baffling to us here that China is turning its back when just a few weeks ago it was like they were set to be world leaders by regulating the ICO markets.

China was just supposed to make ICO’s accountable and everyone would benefit from this except ICO’s that didn’t offer anything of real value; they would probably suffer in China. After locking down many exchanges and declaring many coins as fake, many of us expected things to go back to normal. Just a continuation of the wild rollercoaster crypto has always been for us all.

Well, now it’s not over yet, the fat lady has yet to sing. There is still a slim small, tiny, miniscule chance it could stick around a while longer. There is obviously a lot of push back. It’s a lot of money being traded here that the government isn’t getting what they think is a big enough cut, I guess. When they delved in to the world of ICO’s in an effort to regulate it they came up empty handed and decided it was best to just ban it all together. Great news for those who believe crypto is controlled by the people not the establishment.

It really is a pity that the World of Crypto is so complex and chaotic, you know the best parts of it, and that’s constantly changing and nearly impossible to predict what the industry at all levels will offer next.

I love living in China and love the crypto sphere is so strong here. I know many traders who came here to trade crypto feel the same. I don’t know any that are excited to move on, or leave for this reason. China is the epitome of capitalism at its finest and us expats are rather safe. I will not leave, I’m a teacher, but I will miss trading online . I hope China reconsiders and figures out a solution to their problem. Of the 300 million plus party members I am certain they can find the right brains to do a job that meets the official’s demands.

Those are my thoughts. As always your 2 cents in my comments will get a great ROI, promise.

The markets only limit is the freakin’ moon. Remember me when you’re rich.

Image Credits
https://www.freelancer.ph/contest/Design-a-Facebook-Cover-for-Cryptocurrency-Exchange-Website-656932.html
http://www.wakingtimes.com/2015/01/24/5-things-prove-live-upside-world/
https://cutmantimemanpower.deviantart.com/art/You-Can-t-Control-Us-692097785