China is NOT unbanning Bitcoin or cryptocurrency in general. Western journalists are lying to you so you’ll click to their “news sites.”


China didn’t unban Bitcon. I made this post in another thread but nobody wanted to hear it. Let’s try this one last time and see who is listening:

The link above is basically a PSA to all Chinese people that says, “If you guys have any opinions with regards to crypto being banned, please voice your opinion at either of these two websites listed in step 1.” People are citing it as “a website china is using to reconsider the mining ban and transactions ban.”

1. This could be a honey trap. Imagine you have 1 million USD in crypto in China. You can’t cash that out in China right now.
2. You tell the government you want crypto unbanned. Ok, they’ll keep you on a tighter leash than the other 97% or 98% of people who don’t care about crypto in China.
3. You might be asking, “How would they know who holds what viewpoint?” To lodge an opinion on any of the websites in China where they are asking for people’s commentary, you must log in using what’s called a hukou number, which is equal to a social security number in America. You don’t log in? You can’t leave a comment.
4. The above 3 points don’t mean that government officials in China aren’t buying their own crypto. Many of them are literally above the law and any legal persecution in China.
5. Of all of the above points, the most optimistic outcome I could see coming from this is a bunch of accredited investors in China coming together and and writing emails to the respective government offices in China saying, “Dear government, we would love to be able to invest in bitcoin and have the relevant government offices hold it for us in a custodial manner that is compliant with monetary and investment policies set by the Economic Bureau of China.” Basically, if China “opens up” to crypto, it would be like those early days of paypal crypto where you could only buy or sell and couldn’t withdraw.

I was prompted to make this thread because I read the news article at the top of /r/bitcoin ( the other day and noticed that it cited Cointelegraph, of all crypto “news” websites. Cointelegraph posted some bull shit lies at the end of 2020 about at 51% attack taking place on the bitcoin blockchain. Now I see another thread on the front page of /r/cryptocurrency to give another layer of hopium to anyone who will read it.

That is all. I hope you guys learned something new.

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