China makes all crypto transactions illegal

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ultimatebob

Lifer
Jul 1, 2001
25,135
2,425
126
I'm actually glad that China outlawed Bitcoin mining. It's a huge waste of electricity, and Bitcoin is never going to upgrade to proof of stake unless they're forced to.

Blocking the cryptocurrency completely feels more like a Communist power grab to me. They're probably going to be releasing their own state run crypto soon, and they don't anybody messing with their master plan of tracking everyone's monetary transactions.
 

Shmee

Memory and Storage, Graphics Cards
Super Moderator
Sep 13, 2008
5,862
1,263
136
I feel sorry for the Chinese people. I may buy their coins though :p
 

Shmee

Memory and Storage, Graphics Cards
Super Moderator
Sep 13, 2008
5,862
1,263
136
Hmm, that is a great point. By now it is kinda too late for any hodlers to sell, unless they are out of the country of course. I could see the comeback of things like buy local bitcoin from this possibly, if travelers were to sell their wallets when visiting another country where it was allowed.
 

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