Cryptocurrencies Are Going To Ban China
Again? Yes, but this time cryptocurrencies ban China. Their internal policy is to unstable for major currencies like Bitcoin, Litecoin, Ethereum and Monero. These cryptocurrencies do not see potential for countries that are so indecisive and constantly blocking the development of blockchain projects. It is the first time that several cryptocurrencies decide to ban a country from trading their tokens.
Yes, the headline and introduction was just clickbait. It is not true. But, this article has a purpose because we see so many people only reading headlines. People make decisions based on headlines. People are to lazy to read articles and do not put things in perspective. It is alarming. You have to put everything in perspective, how good or bad the message is.
Let's discuss some examples
Bitcoin in India: End For cryptocurrency as finance minister warns he will BAN Bitcoin use
The right action to take: search for the original statements
India bans bitcoin mainstream, media said. Turns out that the government will set up a panel to examine trading of crypto assets in unregulated exchanges. Not a bad thing at all because it can protect investors from frauds and ponzi-schemes.
The Latest Victim of China's Great Firewall: Cryptocurrency Websites
The right action to take: put it in perspective
´'OMG China is banning cryptocurrencies.´' Again. Really, in all the years we are in this market, China banned Bitcoin a thousands times. But, people do not see this in perspective. China's great firewall also bans Facebook, Amazon and WhatsApp. And you know why? Because China likes to protect their own economy. So, if China bans, they will come with an alternative:
Facebook - Baidu
Amazon - Alibaba
WhatsApp - WeTalk
But, you probably think, nobody can buy cryptocurrencies anymore? First off all, everything is possible with a simple VPN. Second, China will ban foreign exchanges and most probably open the gates to a Chinese exchange. Every country in this world knows the huge opportunities of blockchain, even China.
One simple rule: buy what China bans, because it must be awesome!
Virgin Money joins ban on buying Bitcoin on credit cards
Again, people completely freaked out. Nobody can ever buy bitcoins again, all money is gone and the bubble exploded.
Think twice. Banks are anti-cryptocurrencies because it is a huge threat to their business model, so they will do everything they can to stop money leaving their closed system, until they find a solution to make money. It's just panic.
Besides that, people that use creditcards to invest in cryptocurrencies are basicly taking a loan. Most of these people are also the panic sellers from the january dip. They just follow the hype.
The cryptocurrency space does not need panic sellers or people that are to lazy to do some proper research. The market need people that invest their hard earned money. People that invest for the future and have faith in blockchain technology. These people are sustainable investors and are not going to freak out when there is a bear market.
Please put things in perspective. You need to think of the motifs of all stakeholders. Every bank or government know blockchain is the future, but they don't know how to use it. Governments are definitely not going to ban these huge opportunities but they are going to make proper rules to protect people from fraud.
Blockchain is the future and the best investment around, even if the news look bad.