Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ChartBuddy]

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[Lucius]

China's ban on cryptocurrencies seemed poised to wipe out the domestic industry. That's not quite how things played out. @lagerkranser talks with @Yueqi_Yang and @pingroma about the Chinese government's relationship with crypto. Source: Bloomberg Crypto

Are there still people who think China is relevant when it comes to Bitcoin + what domestic industry are you talking about? Bitcoin mining and anything related to Bitcoin or all cryptocurrencies in general is so insignificant to the total Chinese GDP that all these bans did not harm them at all.

I don't understand the Chinese government's thoughts until now because they never liked cryptocurrencies and Bitcoin, so I'm still not sure that one day China will like cryptocurrencies and Bitcoin just to take advantage of the situation or a desire that is still buried in the government's mind

Bitcoin in a country ruled by a communist party will never succeed, that should be clear to everyone - but there are many who have never felt what it means to live in communism. Unfortunately, I had the opportunity to see how it works, so I can't imagine that China in this kind of political system could ever accept something that it cannot control.

[ChartBuddy]

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[xzy887]

Bitcoin 

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[xhomerx10]

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[reagansimms]

I don't understand the Chinese government's thoughts until now because they never liked cryptocurrencies and Bitcoin, so I'm still not sure that one day China will like cryptocurrencies and Bitcoin just to take advantage of the situation or a desire that is still buried in the government's mind

Who cares about this, Bitcoin is never destroyed even though China doesn't welcome Bitcoin in their country.

We just celebrated winning against any country or anyone who challenges Bitcoin's presence, those who hate Bitcoin will be hot see the fact that Guinness World Records has added Bitcoin and other blockchain events to its new record book.

Bitcoin was listed in the 2023 edition as the most valuable crypto with a market cap of $816.69 billion and was recognized as the world's first decentralized cryptocurrency after its launch in early 2009.

Guinness also describes this revolutionary technology on its website:
Bitcoin was developed as a solution to the challenge of regulating a digital currency without any centralized organization, or ‘trusted third party', to oversee transactions.

Source:
Bitcoin Debuts In Guinness World Records

[shahzadafzal]

Michael Saylor Keynote Speech 2022 Atlas Society Gala “Fix the money fix the world”

https://twitter.com/pakistanprobe/status/1582761098830176256

Full speech
https://youtu.be/ZcjFrIMw2sI

[ChartBuddy]

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[d_eddie]

Rich man from Sweden
Inventor of dynamite
Look who got the prize





#haiku

[Toxic2040]

now here this

the reports of increased sightings of smol vampire cats are completely false...there are no smol vampire cats



------

the morning wall report

bitcoin showing outflow on exchange balance sheets which could indicate that institutions are willing to switch from a sell mode to an accumulation mode
the end of life as we know it might be postponed or...by the Light, cancelled all together
smol puffs of hopium this morning fam
steady as she goes

dyor


4h


D

stronghands

[Renampun]

....

I don't understand the Chinese government's thoughts until now because they never liked cryptocurrencies and Bitcoin, so I'm still not sure that one day China will like cryptocurrencies and Bitcoin just to take advantage of the situation or a desire that is still buried in the government's mind

if you google it you will find this;

China first moved in 2013 to restrict its banks from using Bitcoin as currency, citing concerns its inherently speculative nature threatens the country's financial stability. Over the years, the government has become even more wary.

reality is;

“All central banks want to control them – the PBOC, the US Federal Reserve, the European Central Bank,” he says. “They have no interest in parallel currencies floating around. Some countries may not be too worried but in China it could be more of a concern.”

China can't control Bitcoin so they hate it.

[ChartBuddy]

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[Paashaas]

US Chamber of Commerce Rips SEC for Denying Proposed Grayscale Bitcoin ETF.

The largest lobbying group in the US is backing Grayscale Investments’ lawsuit against the SEC, which claims the agency unfairly disapproved the proposed conversion of the firm’s bitcoin trust (GBTC) to an ETF.

US Chamber of Commerce lawyers wrote in an amicus brief filed Tuesday that the SEC’s decision to deny Grayscale’s planned fund reflects “a paternalistic belief that the agency knows better than investors.” The organization, which claims to directly represent 300,000 members, added that the agency’s policy decisions often “depart drastically” from SEC precedent.

“This approach has enabled the commission to pick winners and losers without having to account for its reasoning to the interested public or to the courts, thereby depriving investors of the freedom to make their own investment choices and businesses of the certainty they need to innovate and meet investor demand,” the brief states.

[philipma1957]

US Chamber of Commerce Rips SEC for Denying Proposed Grayscale Bitcoin ETF.

The largest lobbying group in the US is backing Grayscale Investments’ lawsuit against the SEC, which claims the agency unfairly disapproved the proposed conversion of the firm’s bitcoin trust (GBTC) to an ETF.

US Chamber of Commerce lawyers wrote in an amicus brief filed Tuesday that the SEC’s decision to deny Grayscale’s planned fund reflects “a paternalistic belief that the agency knows better than investors.” The organization, which claims to directly represent 300,000 members, added that the agency’s policy decisions often “depart drastically” from SEC precedent.

“This approach has enabled the commission to pick winners and losers without having to account for its reasoning to the interested public or to the courts, thereby depriving investors of the freedom to make their own investment choices and businesses of the certainty they need to innovate and meet investor demand,” the brief states.

nice find and a pretty good argument by the us chamber of commerce .

[ChartBuddy]

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