BTC ban is just Gold ban reloaded

[BitHodler]

Everything we see now happening in China is just a temporary measure. It might take some time, but we will definitely see the Chinese exchanges come back to the crypto industry ~ China is just preparing its license system.

I am quite sure that it was something they were planning to do already, but due to the massive growth this year, it has forced them to do everything they did recently in an attempt to halt the crypto growth till China is ready.

People wish that China would end up withdrawing itself from the crypto industry completely, but that's not going to happen. I just hope that regardless of them staying, people will just stop taking China so serious ~ stop that.

China doesn't contribute to anything but market crashes.

[BillyBobZorton]

This graph compares GOLD, USD and Crypto, obviously Crypto (bitcoin) is a winner. When more and more people will join bitcoin community than government have no option other than to just legalize the use of bitcoin and its trading.

People are being more sensitive towards their personal privacy and financial freedom, people don't like to just invest their hard earned cash for 5-10% P.A. interest in usual banks and if they don't store their money in banks than that can be a big chaos for banks. That's why they are completely against bitcoin and government is supporting them...

This graph seems like it's wrong to me when it says "Sovereign (Government Issued)". If it's government issued then how can it be sovereign?

If it's government issued, it's a bad thing, so the red box is misleading. I think something is wrong there. It should just say "Government issued" and the "low" box should be green to show that it's positive that it isn't government issued.

Despite all the flak fiat gets, being government issued is not necessarily a bad thing in itself. It's a system that has worked for many centuries, and while it suffers from all the bad of centralization it arguably leads to stability and prosperity if handled right. For the moment being fiat is still the most trusted kind of money, so for the general populace being government issued is a positive.

Part of the value proposition of bitcoin is that it isn't government issued. If it's government issued, then it's centralized. What would the point of bitcoin be if it was issued by a government instead of an algorithm? the whole thing would be nonsense, just e-fiat (which is what they want).

Bitcoin has value because it isn't government issued therefore that chart is misleading. All governments in the long term fail, a hashing algorithm never fails. The rules stay the same and open source for everyone forever.

[senne]

In 1934, the world's top criminal banned private gold ownership

https://en.wikipedia.org/wiki/Gold_Reserve_Act

Basically, gold was robbed from people in exchange for 35 centralized scam tokens called US dollars ("USD"). The gold was then used to finance aggression against Germany....

Today China has banned BTC/Fiat exchanges, which is basically the 21st century version of the gold reserve act.

It is a desperate attempt to keep the fiat scam ponzi system alive. However banning BTC is much harder. Even full prohibition would be very hard to enforce.  And HODLing will be rewarded. Have a look.

Pre-1934 gold price: 20$
Gold price at time of ban: 35$.

After the ban, gold price went up, in 1976 it was already $120. Gold prices were kept low by heavly manipulation for decades, which is not possible with BTC, that is why central banks are so scared: They do not own large amounts of BTC, which they can use to keep the price low.  

Gold price today: 1300$

So, BTC price at time of ban: $4200

Good news for BTC owners. Unless you wonder: "Is China also preparing for a big war?"

First of all China did not put a Ban on Bitcoin, They just imposed ban on ICO probably due to reasons like it they were creating scams, controlling of ICO was becoming a tougher task, tackling finical problems and much more. But this is no way way can be compared to Gold ban as there is no ban on Bitcoin yet, so such speculations are base less, moreover China being the epicenter for cryptocurrency mania will come back with better regulations and rules.