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Weather Man

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China has no ****s to give, remember what I said about a denial of use hack attack? It's coming.​

​

Bitcoin, Ethereum slide as China's central bank declares crypto transactions illegal​

Sep. 24, 2021 5:23 AM ETBitcoin USD (BTC-USD), ETH-USDBit Digital, Inc. (BTBT), Coinbase Global, Inc. (COIN), LTC Properties, Inc. (LTC)...By: Kim Khan, SA News Editor69 Comments
  • China's crackdown on cryptos is escalating, with the People's Bank of China taking aim at transactions and Beijing making more moves to curb mining, Bloomberg reports.
  • Bitcoin (BTC-USD) is down 3% below $43K and Ethereum (ETH-USD) falling 7.5%.
  • Litecoin (LTC-USD) is off 5%, Binance Coin (BNB-USD) down 7%, Solana (SOL-USD) down 8%, Dogecoin (DOGE-USD) is off 7% and Cardano (ADA-USD) is falling 3%.
  • While specifics are sparse, according to Bloomberg the PBOC says all crypto-related transactions are illegal, crypto-related businesses are illegal financial activities and financial institutions are not allowed to provide services for crypto.
  • The declarations come from a Q&A posted on the PBOC website, Bloomberg TV says.
  • On the mining front, China's National Development and Reform Commission is banning investment and financial support in crypto mining projects.
  • Beijing announced further moves against mining last week.
 
jvandy50

jvandy50

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Just a casual 400,000% lol



Sent from my iPhone using Tapatalk
 
Weather Man

Weather Man

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jvandy50 said:
Just a casual 400,000% lol



Sent from my iPhone using Tapatalk
Click to expand...

You wonder how long the original miners will stand pat. So many actors behind the scenes, hard for us little guys to figure it out.

The comment section on the article I posted is on fire on Seeking Alpha.
 
CobraBob

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I read this news this morning. China declaring war on crypto transactions is huge.
 
99MustangGTman

99MustangGTman

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I find everything dealing with BTC so mind-boggling. When I was a college student exploring TOR I realized I needed BTC, so around 2011 or so I bought 2 BTCs for $75 a piece(which I thought was crazy expensive) and then year's later it was worth close to $10k. I wish I stayed when it got close to $50k, but oh well. I always preferred BCH as the exchange rates were higher on BTC. There is a million different cryptos now, the other ones I bought were monero and ethereum.

I was never a stock genius, but the smartest buy I made was GE about 2 or so years ago when it hit an all time low at $5/share and I scooped up 1000s of shares just knowing it would one day bounce up. It was a stock to hold long. I did the same thing with Ford when it was about $5 and a bunch of other companies that I thought were on a temporary collapse. Ford only hit $15 max, but 2 years late I check my account and GE was trading at $105/share, I couldn't believe it.
 
Weather Man

Weather Man

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This would include crypto trading accounts, the Feds want their money, quarterly if you make enough. Now you know the unrealized capital gains tax is coming, they will have the info they need to enforce it.

Banks are pushing back against a proposal from the Biden administration that could force them to turn over customers' account information to the Internal Revenue Service.


Under the plan, banks and other financial institutions would be required to annually report customers' account inflows and outflows of $600 or more to the IRS. The White House has estimated the policy, which would apply to bank, loan and investment accounts, could generate about $463 billion in additional revenue over the next decade.

The measure, if Congress approves it to fund Biden's sweeping $3.5 trillion family and climate change plan, would give the IRS an enormous amount of new information that it would have to learn how to manage and use.

Banks banks say the plan would increase compliance costs and add to the already existing burden the industry faces in turning over information to the government.
 
98SVTContour98

98SVTContour98

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This is bad guys...BTC is fake...it's nothingness...it's numbers...it's not real...you should really put all your faith and trust into the USSA Govt and banks.

 
cobracide

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Of course china banned it (again, actually extending illegal activities to almost everything crypto related) because that's what communists do with things they cannot completely control. So what? Shakes out the weak hands and strengthens the crypto market. This is actually a good thing.
 
CompOrange04GT

CompOrange04GT

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cobracide said:
Of course china banned it (again, actually extending illegal activities to almost everything crypto related) because that's what communists do with things they cannot completely control. So what? Shakes out the weak hands and strengthens the crypto market. This is actually a good thing.
Click to expand...

Ding ding

I just bought into lite on the dip due to it
 
98SVTContour98

98SVTContour98

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FADpW0aXMAAi7z5
 

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