Many similar questions are being asked about China after rumors of a blockchain is being backed by Beijing. There are some people who say that it is Conflux, however, there is a blockchain developed by Beijing academy of blockchain called Chain Maker, where government controlled businesses like Tencent and China Construction are also supporting the project.

NFTs are also being supported by the government in Shanghai through approvals of the creation of NFT trading platforms.

However, everything begins in Hong Kong, where their government has allowed all users to buy and sell crypto. If mainland China follows, it might bring the cryptospace back to the bull markets that are more similar to 2017. The pumps during those bull market years with China were bigger and higher.

Another argument on why China might become the leader in the cryptospace is because the American government has been imposing regulations without clarity that causes many developers confused and leave or stop working for projects based in America.

However, with Bivol being Russian, maybe he cares only about his legacy and not about the money very much similar to Khabib hehe. If Canelo does not agree to fight Bivol in super middleweight then we will never see these 2 fighters in the same ring again.

Does anyone remember the old odds before the sportsbooks have taken them down? I remember it was close, however, Terence Crawford was the underdog. I also remember that much of the people were on Errol Spence except for maybe @Boafeng and 1 or 2 other people. I too was also on Crawford.

In any case, I reckon the sportsbooks might be making a mistake on these new odds. Spence is physically stronger and his skills appear to be very much equal with Crawford, I reckon. Similar to Haney vs. Loma, I change my pick again. I am on team Spence!

If there were some dumps on many of these Chinese tokens, this should be expected behavior, I reckon. Many traders have certainly been buying the rumor then selling on the news hehe. However, from a longterm speculative observation, the Chinese pump might only be starting.

MICA might only be the beginning of the regulators' agenda of killing the most important innovation that decentralization has give us, not your keys, not your coins.

In any case, on uncle Gary vs. Ripple, the Hinman docs will be revealed on June 13. It has a record of the speech made by Bill Hinman who argues that Bitcoin and Ethereum are not securities and transactions on these networks are not securities transactions. Ripple is trying to use this speech as evidence that the SEC does not consider Bitcoin and Ethereum as illegal securities and wants to open another argument that Ripple is also not an illegal security based on this speech.

If this officially and legally proves that Bitcoin and Ethereum are not securities and if it opens an argument for many altcoin projects to also not be securities, I speculate that this will certainly pump the whole cryptospace market hehehehe.

I think very much similar to the scams being created and issued in Ethereum, Binance smartchain and other blockchains, much of these projects being created and issued in Ordinals might also be scams. The community should be very careful before trusting all of these projects. I am quite certain that some of them are taking advantage of the innovation that decentralized ledgers and databases has given us.

Also move this thread to the altcoins discussion subforum. Ordinals and BRC20 projects development is closer to being a development for altcoins.

@bittraffic. Bivol and Canelo's rematch is assured? I shake my head because they cannot agree on the weight division. Bivol wants to fight Canelo in super middleweight where he can win all of Canelo's championships, maybe except for the WBC. Canelo wants to fight in light heavyweight where he can win Bivol's championships hehehe.

I speculate that there will be no deal for this unless Canelo gives Bivol the biggest money offer in Bivol's career.

On Benavidez, he will never be given his chance to fight Canelo. If Canelo fights him, it will be risky. However, he might accept $75 million heheheheheeee.

@everyone. The forum's Chinese community's subforum might be a good source of information if you want to have early information on tokens being developed in Asia. Hong Kong has also began allowing retail trading within their jurisdiction which clearly creates a storyline that China might be next.

Use google translate and start reading hehehehhe. Rumors on which coins and tokens that might be whitelisted by the government of China might bring the biggest pumps for the next bull market.



Hong Kong on Thursday reinstated retail crypto trading at select exchanges in what could serve as a test case for China reversing its 2021 ban on cryptocurrencies.

Source https://finance.yahoo.com/news/hong-kong-bringing-back-retail-090000097.html

This has nothing to do with bankruptcy or another rugpull, I reckon. However, it might hehe.

In any case, it began when rumors of Multichain's CEO got arrested in China then there was a transfer of Multi token to Gate.io. I assume to dump.

The part that I do not understand is there is another rumor that implies Gate.io might be insolvent because Multichain's treasury is being backed by 30% by Gate.io?



JUST IN:

Due to the CEO Zhaojun arrest and the Multichain treasury being backed by 30%. The Gate io team is having insolvency problems.

STAY SAFU AND WITHDRAW FROM http://GATE.IO.

Source https://twitter.com/coinsumption/status/1663952023027613698

Agreed. If there has to be strict regulations, I reckon very strict regulatory procedures should be created only for users who want to avail of accounts that gives them access to leverage. This might be where the income bracket assessment might become useful. If some users does not reach a certain income bracket then no leverage, buy coins 1:1 and hold them under your own custody hehehe.

If Canada is tolerant on swapping fiat for a few selected cryptocoins and strict on leverage, this might be the best regulatory compromise by any government.

I am sorry but I do not have the same assumptions on the people in social media as you have. I cannot say for certain if these people are leftists, socialists or communists because they are also users, traders and holders of bitcoin, altcoins, DeFi, scamcoins, memecoins and many more categories. These people might be very much similar to you and me.

In any case, I am certainly skeptical, however, I wish Ammous the best of luck in his new job as El Salvador's economic advisor.

It appears that we might have some good news on the mining side of bitcoin. According to this article, there was a deal that a vote on lifting the debt ceiling would only occur if the Biden administration agrees to some of the terms from the Republicans in congress. One of these deals included was the removal of the proposed 30% tax on bitcoin miners.



As the details of the agreement reached between President Joe Biden and House Speaker Kevin McCarthy on the U.S. debt ceiling were made public Sunday, one notable part of the deal appears to have blocked some taxes proposed by the Biden administration, including the Digital Asset Mining Energy (DAME) excise tax.

Source https://finance.yahoo.com/news/us-debt-ceiling-deal-blocks-110108229.html

I am not quite sure if this hiring of Ammous would be the best for El Salvador's Bitcoin roadmap. The comments that I have read on Ammous from social media are not very good and have also been skeptical in his qualifications as an economist.

The prominent people in bitcointalk appear to like him and find him a highly intelligent lecturer, however. It might be a good hiring.



El Salvador President Nayib Bukele has onboarded Saiffedean Ammous – author of The Bitcoin Standard – as an Economic Advisor to the National Bitcoin Office of El Salvador.

In his role, the author will “advise on matters related to various economic policies,” while supporting Bukele’s policy of “economic liberty and bitcoin,” according to a Bitcoin office statement.

Read in full https://cryptopotato.com/el-salvador-president-hires-bitcoin-standard-author-as-economic-advisor/

Okay then this is not what everyone is trying to make it appear if Coinbase, Kraken and Gemini continue to operate within Canadian jurisdiction. I thought it was a mass exit where all of the exchanges are forced to leave because of a ban similar to China hehe.

Prohibition or stricter regulations on leverage is okay, I reckon. Prohibition of stablecoins is also okay. I have always joked that stablecoins are fractionalized currencies that are backed by another fractionalized currency. It has entered fractionception hehehehehe.

@zasad@. It is a compliance nightmare for development teams that are located with in American jurisdiction. They're choices are to leave or be taken down by the United States of America hehehe. I not be shocked if the next stage for US regulators is to impose KYC on users personal wallets. What use would the innovation brought by these decentralized ledgers and databases if we cannot be in full control of our digital assets?

America has also been losing their lead in blockchain development. Their share of developers has fallen from 40% down to 29%.



Crypto and blockchain technologies are the next wave of the Internet, with the potential to fundamentally change money, the financial system, and the Internet more broadly. That the U.S. is losing market share in blockchain software development highlights the need for the country to take action to preserve its preeminence in financial markets and related technologies.

Source https://www.developerreport.com/developer-report-geography

@ChiBitCTy. I am more excited to see how Jakobi Meyers and Davante Adams might play with their popular quarterback hehehe. There is also Josh Jacobs who was very good in fantasy last season.

In any case, if Jimmy G had no serious injuries, I reckon they might get a chance to play in the wild card round, post season.

China's roadmap for their blockchain ambitions is not based on what America has been doing in their blockchain ambition, if they have one hehehe. Similar to what I have been saying before, China wants to be the leader in information technology including blockchain. They would certainly need to open up their country for the cryptospace to make it a reality.

I speculate that they might start it with whitelisting some centralized exchanges and maybe also some DeFi projects. It might have full oversight, however. It will not be the same as the open cryptospace that we are familiar with.

Another country bites the dust hehe.

In any case, does anyone know what specific law or rule that caused exchanges to completely close their service from Canada? This appears to be something stricter and more aggressive than what the US SEC are doing under their jurisdiction.

It might also be that those exchanges need to have a .ca domain with the users under the Canadian jurisdiction separated from the international crypto market very much similar to the .us domains. I shake my head. I reckon this restricts borderlessness, another innovation that the cryptospace has brought us.

I reckon if Confux begins pumping, everyone should also begin to pay attention on the tokens of those projects that are being created in Conflux's ecosystem, very much similar to those of you who pay attention in the Ethereum, Binance smartchain, Avalanche and the Fantom ecosystems hehe. The liquidity might be lower, however, the pumps are much higher hehehehe. Small minnows like us do not need much liquidity.

Much of these Conflux projects are not very known by most of the traders in the cryptospace unless they are active in the Chinese crypto community.

News update.

Temasek Holdings, an investment company from Singapore will reduce the compensations of the team that recommended the company to invest in FTX hehe. It clearly was a disappointment. Everyone thought that Sam would change how the cryptospace game is played with their sponsorships on sports teams, sports stars and sports stadiums. FTX was everywhere from Formula 1 to NFL and the NBA. I reckon if only Sam played by the rules and with Binance running from the regulators, FTX might have become the biggest exchange in the cryptospace by 2026.



Temasek, as an investor-owner, seeks to deliver sustainable returns over the long term. While there are inherent risks whenever we invest, we believe that we have to invest in new sectors and emerging technologies to understand how these areas may impact the business and financial models of our existing portfolio, and whether they would be drivers of future value in an ever-changing world. This is why we invest into early stage companies.

With FTX, as alleged by prosecutors and as admitted by key executives at FTX and its affiliates, there was fraudulent conduct intentionally hidden from investors, including Temasek. Nevertheless, we are disappointed with the outcome of our investment, and the negative impact on our reputation.

An independent team has conducted an internal review of the investment and the findings were directly presented to the Board Risk & Sustainability Committee and to our Board. Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ultimately responsible for investment decisions made, took collective accountability and had their compensation reduced.

Source https://www.temasek.com.sg/en/news-and-resources/news-room/statements/2023/our-chairman-statement-on-ftx-internal-review