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This should get interesting....

Helen Keller and Stevie Wonder got together and wrote a book called "Things we See Coming". That was the first chapter. :)
 
Its true but how are they going to implement it? It's impossible. Unless its a capital offense and they, well you know.
 
RedFox 1 said:
Its true but how are they going to implement it? It's impossible. Unless its a capital offense and they, well you know.
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The "Great Firewall of China". They see all.
 
Supposedly and that is saying " if it's true, China has expelled all miners out already. All the miners have moved to the USA, Mexico, and Canada. They will never even expect to stop peer-to-peer usage of BTC, that's what I meant was impossible, they would have gain access to the blockchain and then find a way to track the exchange between the peers to a certain person, that's what is impossible. They can only do that through their banking system if the person is stupid enough to cash in Crypto to fiat and have it sent to a Chinese bank.
Key sentence in the linked story by Wired
The figures, gathered by the Cambridge Centre for Alternative Finance (CCAF) found that by the end of August 2021, the percentage of bitcoin mining taking place in China had “effectively dropped to zero”
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RedFox 1 said:
Supposedly and that is saying " if it's true, China has expelled all miners out already. All the miners have moved to the USA, Mexico, and Canada. They will never even expect to stop peer-to-peer usage of BTC, that's what I meant was impossible, they would have gain access to the blockchain and then find a way to track the exchange between the peers to a certain person, that's what is impossible. They can only do that through their banking system if the person is stupid enough to cash in Crypto to fiat and have it sent to a Chinese bank.
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It's really not as hard as you might think it is. They inspect ALL the traffic internet bound. Even if they could not "stop" it I promise you they would know at which point someone is knocking on your door, or beating it down.

And as far as the power thing I heard they got in a spat with Australia and are no longer importing large amounts of coal from them. Hence some of the power issues. Australia apparently just is selling their coal to someone else now and still making bank.

But hey, so much of the news we read is total BS (especially out of China) so sometimes it's hard to tell.
 
DQ said:
It's really not as hard as you might think it is. They inspect ALL the traffic internet bound. Even if they could not "stop" it I promise you they would know at which point someone is knocking on your door, or beating it down.

And as far as the power thing I heard they got in a spat with Australia and are no longer importing large amounts of coal from them. Hence some of the power issues. Australia apparently just is selling their coal to someone else now and still making bank.

But hey, so much of the news we read is total BS (especially out of China) so sometimes it's hard to tell.
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The power thing only has to do with the miners. Not the users of Crypto and the blockchain. Do you have any idea of the amount of people in China using Crypto? It would impossible for them to inspect every request made on the internet. Impossible.
 
RedFox 1 said:
The power thing only has to do with the miners. Not the users of Crypto and the blockchain. Do you have any idea of the amount of people in China using Crypto? It would impossible for them to inspect every request made on the internet. Impossible.
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True, I just mentioned the power thing because it's supposedly some of the reason they are banning crypto. But the root of that is this coal thing from what I understand and I think it's really just an excuse, they just want to control everything.

Impossible for them to inspect every request? Nope. I promise you they are doing just that.
 
The control Xi is hankering for is having CCP has its own digital currency The State has complete domination over. Control money, control the people.

Whether it actually works out as Xi wants only the future knows.

DQ said:
so much of the news we read is total BS (especially out of China) so sometimes it's hard to tell.
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This is the reason why I said, "....if true."

There are other governments that might try something similar to what mainland China is doing, even "freedom-loving" Western governments.

There is a US bit of legislation pending that requires all bank accounts to be monitored, and flagged if there are "suspicious" transactions of US$600 or more.

IRS would track all bank transactions over $600 under Biden plan; Businesses revolt

I'm reminded of The Obsolete Man
 
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FurryGuy said:
The control Xi is hankering for is having CCP has its own digital currency The State has complete domination over. Control money, control the people.

Whether it actually works out as Xi wants only the future knows.



This is the reason why I said, "....if true."

There are other governments that might try something similar to what mainland China is doing, even "freedom-loving" Western governments.

There is a US bit of legislation pending that requires all bank accounts to be monitored, and flagged if there are "suspicious" transactions of US$600 or more.

IRS would track all bank transactions over $600 under Biden plan; Businesses revolt

I'm reminded of The Obsolete Man
Click to expand...
Biden gave 1200USD stimulus checks to everyone in the whole country, working or not working, which means that the whole country will be under Bidens scrutiny.
 
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I fully expect crypto to fall under the prevue of every western government. Why? Same reason China banned it. But the west won't ban it they will "regulate" it.

I truly believe all the wackiness we see in the west with all these sorts of things is a maneuver by the powers that be to take more control. I mention that to highlight why I think crypto will be "regulated" soon.

That's the shame about crypto. It's REAL power is that you cannot control it. But wingnuts are trying to make a quick buck off of it and are ruining it, it was never meant to be a get rich quick scheme or an investment.

Everything you just read is just my opinion.

EDIT - great conversation by the way
 
For the most part I am following this digital currency issue because it might effect potential purchases made in the future using BitCoin. RedFox and other retailers.

I sure hope this is a tempest in a teapot...
 
FurryGuy said:
For the most part I am following this digital currency issue because it might effect potential purchases made in the future using BitCoin. RedFox and other retailers.

I sure hope this is a tempest in a teapot...
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I think RedFox has accepted it since its inception. I really do not know much about it, honestly, it seems to take the power away from the banks, but is that a good thing or a bad thing, we deserve some protection as the banks give us, but should we be charged an arm and a leg for it, nope. I have no money so it doesn't affect me either way. Sure I wish I had bought it when it was 1.00 in 2010, but who knew?
 
RedFox 1 said:
I think RedFox has accepted it since its inception. I really do not know much about it, honestly, it seems to take the power away from the banks, but is that a good thing or a bad thing, we deserve some protection as the banks give us, but should we be charged an arm and a leg for it, nope. I have no money so it doesn't affect me either way. Sure I wish I had bought it when it was 1.00 in 2010, but who knew?
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It was invented to take the power away from banks and governments. Unfortunately dingdongs use it to try to get rich quick spoiling it for everyone else giving the banks/government a reason to "regulate" it.

Taking power away from banks is ALWAYS a good thing. They don't protect you from anything.
 
DQ said:
It was invented to take the power away from banks and governments. Unfortunately dingdongs use it to try to get rich quick spoiling it for everyone else giving the banks/government a reason to "regulate" it.

Taking power away from banks is ALWAYS a good thing. They don't protect you from anything.
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Wasn’t that what the FDIC was created for?
 
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