Archived China bans anti-blockchain sentiment and prepares to launch its own cryptocurrency (independent.co.uk)
submitted ago by Wiserman
Posted by: Wiserman
Posting time: 1.1 years ago on
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Archived on: 1/30/2020 10:00:00 AM
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Archived China bans anti-blockchain sentiment and prepares to launch its own cryptocurrency (independent.co.uk)
submitted ago by Wiserman
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[–] canbot ago
It is not an alternative to the gold standard because there is no actual limit to the amount of coins in circulation. That entire claim is propaganda. Inb4 you just don't understand it. Crypto is a scam, and China was the first to crack down on it. Now they want in on it.
Bitcoin claimed there would be no transaction fees. Then the transaction fees shot up to over $20 per transaction. Imagine buying a $5 meal and paying $30 after taxes and fees.
By claiming that no one is in control they avoid answering for all the lies. The truth is you just don't know who is in control.
It is also traceable unlike they claimed.
It is also less secure than traditional currency and constantly getting stolen.
It also takes far longer to use.
None of the claims pan out.
[–] SomeGuy ago
You got a good point. I’m starting to think the age of crypto’s has come to pass. What do you think the future of bitcoin is?
[–] canbot ago
There are scams that have been around for thousands of years. As they say there is a sucker born every minute. Every so often they will jack up the price and capture all the FOMO faggots. Then stop buying, the momentum will die and the price will collapse. Then they wait just long enough to get most of the "investers" to give up and sell. Then rinse and repeat. If the investors don't move on then the scammers will with another coin.