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November 11, 2013, 03:13:33 PM |
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LOL, pathetic bearish trolls patting each other's back to get a bit of comfort.
The Chinese Gov may crackdown on Bitcoin purchase, but look at how well did that work out with the VPN fire-wall trespassing industry, which they have been waging a war against for years? The Taobao merchants could simply change the names of the virtual goods for sale to whatever that can elude the authorities, as long as you can't shutdown Taobao(which is impossible because it's solely responsible for the creation of tens of millions of jobs), I predict we will see an army of Bitcoin selling agents willing to take over the job of exchanges in China.
They can put on monetary control has well, but they have also cracked down on "illegal fund-raising" for years, even meting out death penalties sometimes, but the usury business is as prosperous as well, investors in China are just desperate for investment options, not to say practically anyone with power in this nation can be bribed.
The commies may eventually be successful in shutting down mining operations or blocking their connection with the network at large, it will have hardly any influence on how Chinese purchase Bitcoins. And it's entirely workable to just outsource the mining work to the legions of Chinese living overseas.
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