Disabling withdrawals in China and seizing 12,000 BTC in Venezuela has dried up crypto-markets everywhere, are we witnessing a Dangerous Communist Power-Play taking place in Internets favourite token?
Written By: @fyrstikken
When looking at Bitcoins latest price-rise to the moon, it is easy to smile and laugh as a holder and trader who use the coin as the main transportation mechanism to move between markets. Calming down from the euphoria, looking at local markets have made me realise clearly that Bitcoin has been accumulated voluntarily by citizens and seized by these Communist governments we are going to take a closer look at in this article, keep reading:
Look at Communist China and Communist Venezuela and compare it with UK & USA, the Free World:
Wow, look at that spike - that must be normal markets, right? We all know that China is the single largest player in the game of Bitcoin, and the Communist Party own the players and make up the rules for its citizens as they please, same goes for Venezuela which we will take a look at here:
Wow! Not nearly the same volume as Communist Brother China, but large enough to look like the tallest building in a coastal city skyline. Business as usual in Venezuela you say? I do not think so. Recently Venezuela seized a Bitcoin-mine and confiscated 12,000 Bitcoins and started going after every citizen that is involved with crypto-currency. People are scared, with a good reason.
Compare the two charts above with UK & USA
Wow! Nothing to Wow about here, the charts show us that in the UK and USA there is no panic, just business as usual with a slight increase in volume, but who is buying and why has China suddenly made the largest exchanges in the world only to allow withdrawal of fiat-currency? truly a gun to the head saying: "Take our paper-money and go".
Tell me what you think, post a comment below. Share this article on all your social medias and become a follower of @fyrstikken! Have a blessed day :)
Bitcoin takes power away from the control tyrants banks, people can sidestep them now, dont need to pay the robber transfer fees etc !! So yeah the tyrants hate bitcoin and their owners ofcourse !! All part of the revolution coming this year !! We need to pull down the pyramid of control which cuts the light from our dreams of future and prosperity !! Great post Fyrstikken , you more than most know whats going on and its great you see this trend and point it out to your " comrades " in this " community "!! ))))
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Looks more like Bitcoin is becoming centralised by a new group of tyrants.
Price-data right now. First chart is interesting, click for larger.
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I agree fyrst...you should listen to our most recent hangouts. I actually talked about something so similar...you would laugh (or cry...my money is actually on the tears...)
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I will pour some red wine in a glass and listen to it now @officialfuzzy.
and Thank you for the Music. Soon that bubble-illusion people have about decentralised bitcoins for sure will pop. Always good to hear from you!
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Its just ironic others thinking same thing...and kind of sucks since so much data seems to point to it being thr "nwo" currency of choice.
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Venezuela confiscated 12000 BTC?! I didn't find anything on Google, do you have a link about that so I can read more?
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Communist ideology is dead for long.
(Every one of you will betray me!!!)
Authoritarian state takes money from its citizens and does not bother to explain why, so people's wish to hide values is rational. Bitcoin is in this case just currency of tax-evaders.
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"Everybody wants to rule a tax-farm"
Communist ideology has many shapes and forms and conforms itself to whatever the people will believe in. In the USA they call themselves Democrats these days.
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There is a short answer to your headline question: No
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I'm venezuelan, where did you get that number, 12000 btc? There was a raid some time ago in Charallave where 300 antminers were confiscated but afaik the authorities didn't report the exact number of bitcoins in the case.
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I´m in Peru - can you do me a favour and see if you can find out exactly how much Bitcoins that was seized. I picked up the news on zero-day and information has been distorted since then. It was some time ago.
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I have not found anything on a 12,000 BTC confiscation yet. Links Please.
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When this was live news I picked up the news about the "12,000 Bitcoins seized in Venezuela" from Latin American Bitcoiners. I cannot find an english article covering the story completed, so I will post a few articles on the matter and you can backtrack it from there yourself.
https://www.forbes.com/sites/timworstall/2017/01/27/congratulations-to-venezuela-bitcoin-miners-arrested-for-stealing-free-electricity/#6f6a271a4b03
http://reason.com/blog/2017/01/25/venezuelan-authorities-bitcoin-crypto
https://news.bitcoin.com/venezuelan-authorities-weakening-bitcoin-mining-operations/
http://www.marketwatch.com/story/venezuelan-authorities-arrest-4-bitcoin-miners-2017-01-26
https://news.bitcoin.com/venezuela-bitcoin-miners-arrested-electricity-theft/
https://arstechnica.com/tech-policy/2017/01/four-bitcoin-miners-arrested-in-venezuela-for-allegedly-stealing-electricity/
NB: If Electricity is FREE, how do you steal it?
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Those charts are for Local Bitcoins and represent p2p buying / selling using that single platform and not nation-wide Bitcoin buying. When you zoom-in enough a small hill looks like a mountain. That said, are government types infiltrating cryptocurrencies? I'd bet bitcoins on it!
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I'd bet bitcoins on it too, but not on a China-based betting-place. ;)
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Very scary and something to hold in mind.
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This guy knows what he's doin. Follow the Viking to crypto Valhalla!
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