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China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

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11–20 of 270 posts

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#11

China's fast descent into totalitarianism is fascinating and scary. One can easily replace 'bitcoin executives' with 'foreign executives' or 'foreign assets' and see where this is going. I wonder if those companies that choose to outsource all the jobs in their country to China realized what they've done.

honest question, hasn't it been totalitarian for like the past 70 years?

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#12

Is it just me or has China been doing some crazy regulatory stuff recently. Idk if there's an overall mosaic I'm missing or if these are unrelated.

China's economy is crashing, and Chinese government is panicking.

Can you give any more details on "China's economy is crashing"? I must admit I haven't heard anything negative about their economy, thought it was on the up and up.

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#13
post #7

All comments so far have been pro-bitcoin... does nobody think this could actually be a sensible decision?

HN like Bitcoin because it is cool. HN hates government intervention in general. The outcome is pretty predictable.

HN has a fair amount of "Bitcoin is overvalued" people as well. Note that the type of thread to reach the top of HN tends to be something groundbreaking, which will skew the discussion to the extremes.

Also, the comment you are responding to complained about all of three pro-bitcoin comments (Two top level) that were all posted less than 3 minutes before his.

This seems a little unfair to me as it's possible that this thread was likely buried (hence no replies for >1h) and just surfaced to the top of HN.

I speculate there's a lot more resentment on HN towards cryptocurrencies than you might expect.

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#14

China's fast descent into totalitarianism is fascinating and scary. One can easily replace 'bitcoin executives' with 'foreign executives' or 'foreign assets' and see where this is going. I wonder if those companies that choose to outsource all the jobs in their country to China realized what they've done.

Has China ever not been a totalitarian state?

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#15

Earlier quoted context omitted.

China's economy is crashing, and Chinese government is panicking.

Can you give any more details on "China's economy is crashing"? I must admit I haven't heard anything negative about their economy, thought it was on the up and up.

Exactly it can't keep going up and up.

https://www.google.com/amp/www.telegraph.co.uk/business/2017...

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#16
post #11

China's fast descent into totalitarianism is fascinating and scary. One can easily replace 'bitcoin executives' with 'foreign executives' or 'foreign assets' and see where this is going. I wonder if those companies that choose to outsource all the jobs in their country to China realized what they've done.

honest question, hasn't it been totalitarian for like the past 70 years?

Yes, yes it has. I'll never understand why people are perpetually surprised when China bans X, or rounds up people for doing Y.

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#17

Is it just me or has China been doing some crazy regulatory stuff recently. Idk if there's an overall mosaic I'm missing or if these are unrelated.

China's economy is crashing, and Chinese government is panicking.

Have any sources to back this up?

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#18
post #9

China is a closed economy, it makes sense that they would put a ban on a technology which outside of speculative investment is largely used to facilitate money laundering.

Money laundering is currently not an issue, it has more to do with capital controls.

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#19

China's fast descent into totalitarianism is fascinating and scary. One can easily replace 'bitcoin executives' with 'foreign executives' or 'foreign assets' and see where this is going. I wonder if those companies that choose to outsource all the jobs in their country to China realized what they've done.

This is more totalitarian than crushing a citizen in a public square with a tank?

Re: China Bans Bitcoin Executives from Leaving Country, Miners “Preparing for Worst”

#20

Earlier quoted context omitted.

Can you give any more details on "China's economy is crashing"? I must admit I haven't heard anything negative about their economy, thought it was on the up and up.

Exactly it can't keep going up and up. https://www.google.com/amp/www.telegraph.co.uk/business/2017...

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