The B.S. in China is the way the exchanges keep trying to stay open, find these subversive deposit options, and lie to their customers that everything is ok. If they just did the right thing and shut down, then we might be able to get over this more quickly.
I know, right.... Leon, Star & Bobby will continue their profitable craven tactics alllll the way until chinese authorities either arrest them or they're finally out of deposit/withdrawal options & mainland china can actually exit the markets.
And so, in continuing w/ my earlier post..
I've discovered (or merely re-confirmed, in some of these cases) that :
~> I hate high prices.
~> Hate Low-Volatility & 'Retail-Friendly Price Stability'.
~> Hate regulation/integration w/ existing fiat-based economies.
~> Hate reliance on widespread merchant adoption & VC investment.
~> Hate the idea of crypto moving away from its anarcho-libertarian roots.
~> Hate big government (especially the PBoC's bs
).
I also had a brief moment of contempt for miners & PoW as a whole given they're mostly interested in get-rich-quick regardless of what it does to infrastructure, prices, community/project, or economies, but then I realized, not only does PoW (even though it's kinda wasteful) show as much if not possibly more design advantages than PoS or other methods ; But more importantly to us traders, these miners, are what would allow the prices to stay low, by dumping (& seldom buying - aka, one-way flow) more than any other groups [merchants/customers][traders/speculators], the latter having some relatively balanced upward & downward pressure on prices.
Now why in the worldly hell would anyone want such one-way, constant dumping..? Much harder to reach ATH that way no..?
..But that's exactly what the problem is. We're stuck in narrow-channelled limbo's for months precisely because of these two opposing forces - those wanting an ATH & ever-higher prices, and those just wanting to dump & run w/ the money -now-. If this actually damaging concept of an ATH was dropped, we'd all win. The dumpers would make the bank they always have, unopposed.. ..until we reach a 'recent-memory'-ATL. There, the buying pressure from investors/speculators would be so high, it would balance out the dumpers, ideally in waves for maximum % volatility (trading profitability).
Can you imagine that..? A complete blood bath, a China exit, a BTC-e crash/arrest, followed by years of $0.50-$125 price ranges in an exuberant climax of joy for any leveraging trader..? Endless mountains upon valleys upon mountains of insane tri- or quad-digit-% profits, bitcoin itself returning to its roots, everyone who isn't too dumb to trade able once again to get another chance at those glorious days of 2011-2012 single-/double- digits..?
Everyone here would get a Second Coming, this Divine Intervention granting each faithful bitcoiner another chance at becoming a Supernode..!!!
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