Originally posted by @Joe Splitrock:
Originally posted by @Eric Carr:
Originally posted by @Terrell Garren:
Originally posted by @Eric Carr:
Originally posted by @Terrell Garren:
Originally posted by @Eric Carr:
Adoption continues to grow. State Street and other large funds are adding it to their fund offerings / adding it to their balance sheets. Major banks, like Chase and Wells, are offering it to their clients. Custody is next. Jim Cramer recommends putting 5% into BTC. Budweiser buys and NFT and buys the Beer.eth domain name. El Salvador getting ready to make BTC legal tender. Miami launches Miami coin, will pay interest / rewards in BTC, Kiyosaki says BTC has the greatest upside, Bitcoin of America listed as one of the fastest growing companies, Citi files to trade bitcoin futures - citing increasing demand, Europes largest derivatives platform will launch a Bitcoin futures fund. And more companies are accepting BTC for payment.
China cracks down on cryptocurrency, banning all transactions. - The New York Times (nytimes.com)
China has banned the most profitable companies in the world. Google, Facebook, Twitter, etc
Comparing Bitcoin to Google and Facebook is laughable. Twitter does not even crack the top 50.
Replace Twitter with YouTube.
also, seems like you missed the point
Bitcoin is bigger than China.
YouTube is owned by Google. China would allow them to operate if they agreed to censorship standards, which they almost did a couple years ago, but backed down when congress pushed them on the subject. China is literally the worlds biggest economy and growing faster than the US or Europe.
Bitcoins biggest advantage has been avoiding regulation, but it will be the downfall. China banned crypto because it is volatile and dangerous to economic stability. It is also a waste of resources, consuming space and massive electricity. It is uncontrollable, unlike every other currency which can be manipulated.
US Government has been uncovering massive money laundering operations linked to crypto. They are tracing it back to ransomware and other extortion. Drug money also goes through crypto. It is not only the illegal activity that the US Government hates, but also the tax evasion and lack of ability to manipulate. The USD is highly manipulated to control the economy. They were willing to look past crypto when it was small, but the bigger it gets, the more attention it attracts.
What is volatile is China's real estate companies
I've lived in China, it's a Communist country, and they like to keep control on things. You've already explained that with their demands on Google. You might point to the fact that they are the biggest economy, I'm going to mention that the entire world is in debt.
You just explained why bitcoin is a lousy choice for money laundering. It's traceable. Less than a 10th of 1% of bitcoin is used for laundering. Compare that to how much cash is laundered in the US. Go ahead and look. Mastercard just bought an on chain forensics company, to help detect tax evasion and other misuse.
More clarity will come forth around taxation. So I disagree that its value is that being unregulated.
What is a waste of space and resources, bank branches. Christmas lights.
Like the Internet, telephone systems, TV and radio, pretty good use of space and resources. The bitcoin network is the most secure network on the planet. It's also driving major renewable energy efforts.
It's getting more attention because more companies, countries, people, are adopting it. It will be regulated, it will be taxed, it will continue to grow.
Even with the current the current price from all time highs, bitcoin's market cap is still bigger than major banks
