CHINA BANS BITCOIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

zerohedge.com/news/2017-09-04/ethereum-bitcoin-crash-after-china-declares-initial-coin-offerings-illegal

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>140226804
I feel sleepy

>caring about the law

...

Crypto fags BTFO

>CHINA BANS BITCOIN
work on your reading comprehension

SKYKING is going crazy lately, join the livestream chat on youtube

Open in new tab, leave in background while you browse. If anything is transmitted you will hear it.


youtube.com/watch?v=H0b_s0oVvVI

China bans coin that iis literally designed from the ground up to be unregulatable.

This is just a tree shake. Of all those nerds back in 2009 that bought 3k bitcoin for $10. How many of them are multi-billionaires today?. Less than 1% because they kept falling for shit like this.

The optimal crypto strat is to put disposable money into a promising coin and forget about it for 5 or so years. No matter who bans what, no matter what bullshit you hear

they basically did though. the chinks never cared about bitcoin, they saw it as a way to make cash. they would create a bunch of scam shitcoins and shill it to americans. when shitcoins became available, they'd pump and dump. shitcoins would then be worthless and screw over anyone who wasn't directly involved with the plan. the value of shitcoins are tied to bitcoin..so now that they can't do that anymore, bitcoin will drop in price.

not to mention the jews of goldman have bots manipulating the market so they can buy 90% of the bitcoin supply

Thanks

Most of them propably forget passwords to their accounts and killed themselves

weird
are they creating their own currency?

Sup Forums is happy

Yup, it's called the Yuan.

It's temporary ban, right now chinks buying low everything from whito pigu idiots selling it in panic

probably the only miners in China were the government so they kinda screwed themselves over

Based chinks crashing the cryptomarket. Time to go shopping in the ruins.

This stuff would be the future if the governments would allow a free market.
But seriously, you must be dumb if you believe that the govs of the world will not ban rather sooner than later all crypto coins that they do not control 100%.
First of all they WILL NOT ALLOW anonymous transactions.
And secondly, they WILL NOT ALLOW the general public to see how valueless their own fiat paper money is becoming.

Yes, you can't ban it completely, but they can shut out the normies, and without normies these coins wont have much value.

Eventually they'll bring their own gov supported crypto coin that is fully transparent to them, where wallets can be frozen at will and most importantly - where they can mask them continuing to steal our wealth via inflation.

Again, they WILL NOT ALLOW anyone to prevent them from stealing our wealth through inflation.
It's never gonna happen, unless we beat their armies.

>tfw sold all my coins last week

Rip China

Shit like this is why China will never become a first world country. They keep banning technology and communication.

This.

Oh just wait, they'll do the same in the West. There's calls in the EU do ban unregulated crypto coins and replace them with regulated ones - to prevent money laundering, the black market and stealing from citizens.

Question for a newfag to bitcoin, is it time to buy? I really want to make some cash.

It only dropped like $100 after this announcement.

No. It will eventually fall all the way back to below $2000. Buy it below that $2000 price.

Yes goy, buy buy buy.

not yet
wait on japan and korea to grow, china will crash the market for a while

Okay I'll keep my eyes peeled thanks.

the whole point of bitcoin is that it's practically impossible for a government to ban it

It banned ICOs, bot Bitcoin. Which is good because ICOs are fucking scams.

It's fucking down by 500 bucks.
It fucking diving lads
And somethings up with the us dollar, that shit keeps dropping too.

you retards that treat bitcoin solely as an investment opportunity instead of a legitimate form of currency are in for a rude awakening

Alright thanks friendo.

Those arguments are garbage to anyone paying attention. All of those actions are carried out in larger volume with USD every goddamn day. Another vehicle with a fraction of the liquidity is a fucking joke.

Nonsense. You still need to convert to and from fiat to buy most anything.

now's the time to BUY!!!!!!

buy and hold

>And somethings up with the us dollar, that shit keeps dropping too.

Yeah, traders front-running the end of QE, FED is to take a decision soon.

Tip: If you know nothing about currencies and / or markets, you better stay away from it.

The whole point of crypto is that its virtually impossible for governments to regulate so what is the problem? Unless you cryptofags were lying to me and it's not as safe and free from oppressive fiat slingers like you said it would?

...

I made 3 grand off of ETH so tell me again how it's not an investment opportunity lmfao

HODL!

Coincucks btfo

I say 50/50
Buy half and see if drops more.
Bitcoin will keep claiming like fullauto rifle in america.
Can't make bitcoin only mine and theres a cap.
Get it now and you'll be laughing in the future.
I'm just fucking around will a live stock market simulator.
Started buying us dollar and now this shit is dropping like rocks in water.

this is an attempt by china to create fear and panic, because they know that they are holding their economy together, its not actually enforceable

i'm talking to the people who talk shit about crypto as a whole, you keep doing your thing

Climbing* not fucking claiming.
And this is just make take on the situation. Don't take my words as truth.

Bull lad. Govt could make every bank trading in btc Shut down. Make it impossibru to convert. Not hard at all

this was planning on the 2k mark too. Set a price point you're comfortable with

If you want to make cash, learn a trade. You are just as likely to make money trading bitcoins as you are to have some lolfag just shutdown the trading site you used and then he moves to Malaysia and fucks traps until the money is gone.

zerohedge.com/news/2017-09-04/ethereum-bitcoin-crash-after-china-declares-initial-coin-offerings-illegal

It's happening, boys! Buttcoin is plunging, we'll be able to afford high-end GPUs again without getting jewed soon!

get ready for a market crash buddies

Way down we go.
Sat way down we go

All the neets who begged their parents to buy them a single bitcoin as their combined Christmas and birthday present are pissing themselves right now

It won't go below $3800

Read faggot. They're banning ICOs not currencies.
Should have Sold my NEOs at Peak, bht now i'll just hodl everything

The chinks were always behind the West on cryptos. And their pump and dumps are no different than ours. It's not central to their "crypto economy".

Read up on Chinese financial culture, and you'll understand why cryptocurrencies are so popular down there. We might like to hide our assets from the government in order to not pay our taxes here in the west, but in China it's a whole nother ballgame.

The Chinese, even the middle class, have made a sport out of hiding assets from their government. Crypto currencies gave them exactly what they needed. A few greedy chinks inventing shitcoins to bleed normies dry is a side-effect, much like it was here in the West.

You can tell that to the police. Several bitcoin farms got BTFO here already. Good move by the chinks, fuck this shitty scam.

They are not garbage, I'm working in the financial sector and we are implementing without end new regulations to allow the gov to get more info from every single transaction made or features that prohibit certain types of transactions.
It is impossible that they will just watch what the crypto community is doing and let the part of the economy that they don't control continue to grow.
Simply impossible.

You should invest in other crypto if you want faster money.

>the jews of asia ban currency they can't regulate or control
wow surprise

>if the governments would allow a free market
Never gonna happen.

>daily reminder

Major banks already announced their own crypto. It will happen.

BTC is already on a public ledger. Start digging faggots. If you cunts really want to push this, then more people will just pick up on Monero and completely deny you fucks any traceability.

Crypto is a Hydra.

they can disallow all they want, its still happening.

Governments have always managed to escalate problems, and they'll do it with cryptos as well. The only real step towards banning "unregulated" cryptos would be what the Chinese did early on, but reversed; prohibit banks from allowing transactions with cryptocurrency exchanges. In this case, exchanges which allows unregulated currencies.

What will happen? The cash sale of unregulated cryptos will increase, to the delight of major criminal organizations. "Un-authoritzed" exchanges between unregulated v regulated cryptocurrencies, for the criminals to be able to withdraw their funds legally from government approved exchanges.

They're fucking idiots.

They cannot ban the protocol, but what they can and will do is turn off the trading platforms on the Internet or block DNS resolution. (and prohibit so called reputable financial corporations from dealing with it)
It doesn't matter to them if a small minority keeps using it forever, they'll just remove all normies out of the game.
The gov will not give up its privilege to fuck us over without a fight.
But that day hasn't come yet, I'm sure there's still a lot of money to be made in the field and I will continue to do so for now.
I'm just not lying to myself.

They won't disallow the tech, they'll just ban all means of converting it into yuan.

So China can dominate the mining and sell for dollar, basically becoming another export industry.

I didn't see your initial argument. That it was about fucking over normies and financial control, rather than stomping out crime.

You're right about that. They'll do it, and they'll be successful.

>buy now and cash out after the rebound
>buy now and fucking lose everythin

what to do?

/biz/ is literally on suicide watch. Press F.

You believe they force financial service providers to make all our bank accounts and transactions transparent to them, but will just let it slide with crypto coins if they reach mass adoption?
They don't force all economic activity and every citizen to be 100% transparent to them just for fun.
They will use the very same arguments they used previously to implement all the same regulations in the financial sector.
MUH BLACK MARKET, MUH TAX EVASION, MUH MONEY LAUNDERING

As the other user said: work on your reading comprehension.
They banned ICO's not bitcoin, fucking hell.

BTC is set for a major correction soon enough. All it takes is a catalyst, and one would think that this would be it.

Don't risk a 80% loss for a potential 10% gain.

Never buy at the top.

Read my post again. Think bitcoin as a product that China sells to the rest of the world but does not use themselves.

LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL

BITCOIN? MORE LIKE CRASHCOIN LOOOOOOOOOOOL

I read it and I understood it. I stand by my position that govs will never allow mass adoption of anonymised financial transactions and currencies that are not controlled by the central banks.
At least not without removing and replacing all of our current elites

Pretty much, they'll ban conversion of crypto into fiat, China also banned pricing info too.

>tfw just started selling my bitcoins

JUST BUY ETHER AND TETHER and when bitcoin goes down buy up as much as you can.

OMG ITS OVER FOR BITCOIN
IT WENT FROM $5K PER COIN TO $4.3K


THIS MINOR SHIFT AFTER A MAJOR ANNOUNCEMENT MEANTS ITS ALL OVER OMG OMG OMG

/sage faggot

We will remove these Communists from power eventually.
They will not stop until they control every single one of down to the thoughts we are allowed to express.
I doubt that people will not increasingly start fighting back in the future. Trump is just the start.
I for one have had enough of this shit.

>skykangz

When did you get in?

>tfw bought $30,000 worth at $1200 and liquidated at $4200

Going to withdraw $50k in fiat so I'm in the green, and then use the remaining $50k to bleed normies dry on shitcoins

This happened before. People got too cocky due to the raging bull. People who didn't even know how to trade were just tossing money into it..

Bitcoin's the dotcom bubble of the 90's for millennials.

BTC will be $10k at this time next year

just forget you own them

thanks fren

How do we know when it hits rock-bottom? Surely we're seeing the correction now.

I do not doubt that this is possible btw, even though I'm negative of the current political climate we have and what they might do.
It might even be that we'll see BitCoin at $50k before they start a serious move.

now is the time to buy.

>China bans coin that iis literally designed from the ground up to be unregulatable.
yet you forget the market is ran by fear.

>buying when its falling

don't cry when you get cut catching a falling knife

Depends entirely on how this story develops, and if there's additional news.

If no real positive/negative news hits the cycle, I'd expect the prices to drop down to ~$3200. Maybe even further, depending on how the normies who bought in at $4k reacts when they think they're about to lose all of their money.

bitcoin is for druggies and degenerates

I'd give it a while. it's dumping harder than I've ever seen it. This is the crash that's justifying my nocoining. I knew this would happen eventually. BTC is essentially a money laundering instrument backed by pure speculation.

Fuck Bitcoin.

Hahahaha

RIP /biz/

Usually when something reaches rock bottom it stays there (with some variance of course) for an extended period until it starts rebounding heavily again.
I personally would expect it to be there in very large for a few months, crypto coins are much smaller volume. Here it might be a few weeks.

Suicide material right here