[2014-05-12] - SCMP - Chinese bitcoin firms plan to go offshore to sidestep ...

ArticMine (OP)

Legendary

Offline

Activity: 2282
Merit: 1050

Monero Core Team

[2014-05-12] - SCMP - Chinese bitcoin firms plan to go offshore to sidestep ...

May 12, 2014, 09:32:53 PM

#1

South China Morning Post - Chinese bitcoin firms plan to go offshore to sidestep crackdown

http://www.scmp.com/news/hong-kong/article/1510452/china-bitcoin-businesses-plot-escape-beijing-crackdown-PBOC

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card

LiteCoinGuy

Legendary

Offline

Activity: 1148
Merit: 1010

In Satoshi I Trust

Re: [2014-05-12] - SCMP - Chinese bitcoin firms plan to go offshore to sidestep ...

May 12, 2014, 10:09:59 PM

#2

clever move.

OVERVIEW: BITCOIN HARDWARE WALLETS https://bitcointalk.org/index.php?topic=899253.0
Litecoin Info: https://litecoin.com/ *** BTC CHARTS: https://forum.bitcoin.com/topic334.html

cbeast

Donator
Legendary

Offline

Activity: 1736
Merit: 1006

Let's talk governance, lipstick, and pigs.

Re: [2014-05-12] - SCMP - Chinese bitcoin firms plan to go offshore to sidestep ...

May 12, 2014, 10:14:46 PM

#3

Good move. That way the party members can protect their monopoly of payment systems and Chinese citizens will know that they can have a fair market outside their sovereign borders. Win-win: that's Chinese for GTFO.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.

erono

Sr. Member

Offline

Activity: 434
Merit: 250

Re: [2014-05-12] - SCMP - Chinese bitcoin firms plan to go offshore to sidestep ...

May 13, 2014, 01:33:26 AM

#4

Banning transfers from bank accounts to accounts managed by third-party companies leads to offshore banking.

★ Cryptcominer.com ★ Earn up to 4.5% daily ★
★ Online Investment Company ★

bryant.coleman

Legendary

Offline

Activity: 3654
Merit: 1217

Re: [2014-05-12] - SCMP - Chinese bitcoin firms plan to go offshore to sidestep ...

May 14, 2014, 08:34:14 AM

#5

Military dictatorships are normally run by people with peanut-sized brains and China is no different. See what has happened. Thousands of potential jobs have been lost in mainland China and the offshore nations will gain both employment and tax money.