Bitcoin Exchanges to be banned again?
So I've been coming across rumours that say there is information being "leaked" that China is about to ban cryptocurrency exchanges.
This must be about the fifth time this rumour has circulated.
Haven't found any concrete evidence or a translation of an official announcement yet. I personally don't take these "rumours" seriously.
My Take On This Kind of "News"
My Take is that the Chinese government itself is likely one of the biggest investors in the cryptocurrency space.
Whenever they feel the need to buy more they "leak" this kind of information and start filling their buy orders.
They have banned bitcoin and bitcoin trading so many times it is not even funny any more. Looks like people are already panic selling though.
But what if it is serious this time?
I don't think it is because the Chinese government will not only kill their own personal investments (which I'm 100% convinced they have) but they will also be killing a major revenue and growth stream for their own country.
They are not stupid.
But if somehow magically it did turn out to be true, I think it would be fantastic.
Why?
Because this is exactly the boost that decentralised exchanges like Bitshares, Waves, Bitsquare etc need to get people using them.
DEXs are the future but they don't have the volume/liquidity right now to be useful.
So personally I would love this to be true - even though it likely won't.
Even if it doesn't pan out I am pleased to have the opportunity to buy in to some more tokens and cryptos I want at a discount.
Remember the old Rothschild saying - "Buy when there is blood in the Streets".
The Chinese government seems to like making blood on the crypto streets on a regular basis, why not take advantage of it?
Thank you for reading
