China Calls For Lift Of Cryptocurrency Ban



hello everyone my name is markiplier and I just made $11,000 for being on trending for having a simple conversation with my mom makes me sick welcome back to the channel everybody I got a whole bunch of good new stuff rate today as usual the main topic of the day is that China calls for a lift on cryptocurrency ban after the Xi Jinping blockchain speech so commentaries in both the local press and on local social media claimed that the time is right for Beijing to redress the ban which began at September 2017 which if anybody remembers totally rocked the price of Bitcoin I think we were at like spa just a little over about five thousand and then we went down to 3300 if I'm not mistaken maybe 3200 so she mentioned blockchain speech during a speech at the Chinese Academy of Sciences 19th annual conference and along with other new technologies he said that breakthroughs were constantly coming echoing China's ongoing commitment to implementing projects of its own the country is set to develop a national blockchain standards by the end of 2019 that's incredibly disappointing because that'll be way way too late so good job China ever since the start of the 21st century a new generation of Industrial Revolution is substantially reshaping the global economic structure with artificial intelligence Internet of Things and blockchain constantly making application breakthroughs one translation of the speech uploaded to reddit reads so regulate not ban says local papers or an opinion piece and Chinese English language what does Chinese English language is that like I mean it's it's one or the other right news sources Global Times Thursday meanwhile added to the sense of anticipation that regulators may look again to permitting a Bitcoin and its ilk is that a word I thought I had a good vocabulary I don't know what ilk is more than anything it claims a pressing concern for the government should be the threat of losing out to competition from more relaxed jurisdiction so if fencing off Bitcoin Changez can't effectively and bitcoin trade and fears of Bitcoin bubble could lead to China behind the digital currency revolution so hopefully China decides to you know reverse its ban or at least some of the bands and allow people to trade a Bitcoin once again which would dramatically raise the the price of Bitcoin so again for example in September 2017 they decided to do pretty much a sweeping ban I don't think it actually included mining but any kind of exchanges and that rocked the price at Bitcoin I remember we were in the 4900 we were just about to breach 5,000 and it went down to about $3,200 so that's a pretty big drop that's you know really significant and so it would just go it just goes to show how China has you know a huge impact on the price of cryptocurrency and if they were to reinstate it we could easily see a 50% increase very very quickly in the price of crypto but they don't really they really aren't talking about it until the end of 2019 or at least national blockchain standards so hopefully that comes a little bit sooner because 2019 I mean that's a long way away I mean the world could get hit with a meteor and by the time of 2019 comes along so come on let's get with the program a little bit so yo it's too big to fail main net launch will reveal if expectations were justified so the eos token lockdown it's coming within hours and those who forget to register may have to wait for the remedial actions from the team the OS project is constantly sending reminders for the completion of the project of the process the exodus wallet has also word it would not serve as a mechanism to acquire the new tokens exchanges are the only platforms that would be capable to instantly credit the new balances for one unlucky user the registration on one of the eos support sites also endanger ten millions is worth of funds i don't think you need an apostrophe on the end of that but alright luckily intercepted without with a warning so the eos market prices stabilized at 12:37 up a fourteen percent that past days in climbing tentatively in the past hours you notice has been sliding slowly in the past month both in dollar terms and against bit coin and crypto market with generally thinned out volumes the demand for yose takes trading to around seven point six percent of all deals while aetherium regained its popularity with more than twelve percent of trades yes has clearly become the winner yeah I don't know if that makes it clearly the winner and the most prominent project in the past months but this has not stopped the criticisms that the price was a concerted operation also a OS dumping etherium certainly helps vo Xhosas case the last completed es auction achieved a price of below twelve dollars still the latest month of daily auction saw robust daily proceeds of a theorem with nearly 40,000 tokens paid into the auction the rough estimate c-block one sitting at as much as four billion in aetherium so if you watched the episode yesterday I talked about how Yost holds an incredible amount of aetherium and they are essentially dumping it as time goes on which is really really devastating the price of aetherium and every time a theorem goes into any kind of bullish movement it just got knocked right back down by EO s– by them selling it because they are actually selling they're not selling it over the counter they were selling it on I think it was bid tricks if I'm not mistaken and so they're really dumping the price of it ripple wants to people to stop calling its coin ripple what's the difference between ripple the company and ripple xrp the cryptocurrency remember many people would ascertain not a lot given that the former owns most of the latter and its foundation founders were responsible for creating ripple in the first place ripple the company has other ideas though and is on a mission to separate the two ripples big and small once and for all love it I guess the rhyming that is for several months ripple has been on a mission to dispel the notion that it is responsible for the XRP currency it issues just as Prince once changed himself into a symbol the project would like to turn its currency into a symbol and keep it that way this is despite the fact that XRP is simply a currency ticker derived from a Aviation of the word ripple just as XMR as an abbreviation of Mon Aero to mark the distinction a new logo has been proposed that is clean minimalist tellingly looks like that of ripple so the proposed new logos of ripple that is the worst logo i've ever seen i bet whoever made that was prior like yeah now I'm gonna take this to the Board of Directors they're gonna love it they're gonna love it this is terrible so it's been theorized that the company is seeking to distance itself from its empanada 'the eponymous currency in order to securitize it they're likely this likelihood of XRP being a security given the fact that ripple has a majority holding is strong in the event of ripple being classified as such by the SEC it would give a major impact on extra piece price and its availability on US exchanges given the foregoing it makes sense for the company to emphasize the distinction between the company and XRP it is likely to encounter significant difficulties however in convincing people that that's the case yeah you probably will it's gonna be XRP for life good luck on that you know and if it was classified as a security by the SEC it would have an impact on X our peace price well you know you can't mess up extra peace price anymore because we're all the way down to I think at the time of recording this about 55 cents 60 cents something like that when it was previously three dollars and fifty E some sense close to four dollars that it's at its height so you know good luck ruining the price anymore oh well here we go we got the Roger ver weekly show make sure you guys tune in to that so you can listen to how Bitcoin cashes Bitcoin that sounds like a really great time awesome I'll make sure to bookmark that and put that on my calendar and just you know tell my family I'm like I can't hang out tonight you guys you guys just go somewhere I don't care I'm getting a hotel room for the night because I'm watching the Roger ver weekly show I got things to do you know that sounds like a blast and of course it's on Bitcoin comm you make sense it's the only place that would ever show that let's skip this one weird he talked about ripple I don't want to talk about it I don't want it get it out of here a soos to realize 20 graphics card mining master motherboard in fall of 2018 oh my cuz their last one was so amazing their last one was just awesome right so and what I'm talking about is the soos beat to 50 mining board if I'm not mistaken it was their previous one so finally announce the release of its second generation here we go so this is the H 370 mining board and previously they had the Asus b250 which I believe had 18 or 19 GPU hookups and it didn't work like at all like you couldn't hook up all of the GPUs to it I've never seen any anybody that really could without a huge huge hassle to hook up all the GPUs to the Asus b250 mining expert so now they're like hey the last one worked so good let's create a twenty graphics card board so you can see here they have the 24 pin ATX power supply connectors here so you can essentially hook up three power supply three separate power supplies to this so that you can run 20 GPUs but good luck running 20 GPUs in this board that's that's like a challenge from me if you can get that working go ahead and just comment on my channel with a link to your video and I'll go hey look what we have here coca-cola ah that's the stuff it creates a warm feeling it's so delicious I can't wait for the holidays so that I can leave Santa Claus not cookies but a nice coca-cola come on coke you know where I'm at so yeah good luck with with that Asus I just the last board it just didn't work so good you could hook up GPUs to it but hooking up like 18 GPUs is just a super hassle and from from all the reviews that I heard is just it it wasn't happening most people couldn't hook him up it was a huge pain so yeah good luck Asus with that I would rather just use like a 6 or an 8 GPU board and just get multiple but I suppose either way hopefully this new release is a little bit better than the last one so good government-issued crypto currencies be the future uh-oh I've talked about government crypto Kurtz he's a lot in the past and let me just tell you again and you're like oh the people that have heard this a million times for me or just like oh and they're just looking around now and you guys just take a break you just take a break and sit with your fidget spinner while I educate all the other people so a government cryptocurrency would be let's see what do you call it the worst thing in the world the great evil if you will the reason why is because you'd go to a bank you'd get a private key or you excuse me you get a public key from your bank and you'd give them your ID your social security number you'd go to a bank you to get all this information the government then issues you currency you'd go to your job and you you give your employer your public key for a direct deposit so when you get paid you get paid in a currency right so now when I pay somebody my currency it's on the public blockchain so now you know not only because not like the government can't look up your bank account as it is if they really wanted to but now it would be government controlled so they could just look up all the public blockchain see all the transactions you could see it everywhere you could see it you could see that I paid my neighbor and that my neighbor paid this guy and that guy and that guy and it would go on and on and on it would create a link non-stop for everybody's buying habits it would be horrible just horrible and that's my quick description of it I have talked about it in much more detail you know the government could control the the the amount of the currency the inflation the deflation the inch risked everything and would be able to see everything you do and everything that everybody else does with your money so that's that's bad that's bad that's super bad it's really really bad it's way worse than what we have today is banks it would be much more public you want to go out and buy some drugs tonight guess who's gonna know what you just did the government so that's not it's just not good not saying you should do that but I'm just saying that like anything you would do would be on the blockchain in Sweden just 2% of the countries transact transactions are conducted with cash and that number is expected to climb further to 0.5% but 2020 so in countries at Canada UK US and the UK shows similar stats so changing customer habits and trust in the new medium just doesn't happen overnight it's not something that we're gonna see in the next three to five years good government launching their own crypto currencies via private blockchains seems like a smart move is the dollar and the other fiat s– continue to lose value and more citizens discover Bitcoin right because if a government created cryptocurrency they're gonna make it better than the Fiat that they just created what so if they can't control their Fiat then they can control crypto just I mean Venezuela was the first major country to pull this off after suffering from a hyper inflated currency and severe economic issues and we all know how work how well the petrol worked out however given the whole point of Bitcoin is to subvert government and bank control over an individual's money it's hard to see how a crypto dollar that tracks all of your transactions earnings and tax liabilities will be favorite choice by citizens exactly government controlled cryptocurrency goes against the blockchain ethos of decentralization and self-governance making it no more valuable to regular citizens then today's fiat so what may become a useful cryptocurrency for institutions to trade services across borders may not be what is adopted by citizens seeking autonomy over spending and finances despite this countries like the u.s. who have a dominant position in the world stage would could ensure that a government-issued cryptocurrency becomes as ubiquitous and in demand as the current Fiat US dollar and then they also think that bitcoin is overpriced but overpriced compared to what compared to your Fiat or compared to it itself like you know that that's a weird question so yeah the great evil may be coming sooner or later it's already digital but they're just gonna be like hey let's make it even more digital so hard Forks may kill Bitcoin and 100 years because we all care about 100 years I mean we should care about the future we really should let me let me reiterate that we should but oh I would definitely be dead in a hundred years and unfortunately so are you but the future American Nobel laureate economists academic best-selling author Robert Shiller oh man what an unfortunate name claims Bitcoin may be extinct in a hundred years and our Forks will be to blame a big forking problem good one nobody can accurately see 100 years into the future but prominent economists economists I always do that Robert Shiller claims Bitcoin may be the way to go of the West African black rhinoceros may go the way of the West right African black rhinoceros ah they got me good that is to say extinct according to Yale professor hard forks will be to blame for the disillusion of the first and foremost cryptocurrency Bitcoin won't look like anything today in 100 years it will have a different name if it exists no it won't it'll still have Bitcoin if you fork off Bitcoin that creates a new name not Bitcoin forking there will have been many hard for exchanging and it chained and changing it it'll be a matter of dispute whether it exists or not indeed the amount of Bitcoin hard forks already in existence numbers above 30 and most notably include Bitcoin cash Bitcoin gold Bitcoin private whole slew of less noteworthy Forex also exists like Bitcoin God Bitcoin all the bitcoins smart I mean why more hard Forks to the market leader already planned including anonymous Bitcoin oh yeah cuz we need another one of them one may easily argue that the sheer amount of Bitcoin hard Forks indeed does very little to benefit the most mainstream cryptocurrency in fact there remains a civil war against Bitcoin and B trash the fourth largest cryptocurrency by market capitalization because of their fraud and manipulation awesome with the ladder actively making attempts to claim the Bitcoin name for itself while rebranding the former to Bitcoin core adding to the confusion as the fact that a group of developers have recently embraced a Bitcoin core moniker perpetuated by some Bitcoin cash proponents having launched a cryptocurrency under the same name BTC see while calling it the real open source peer-to-peer electronic cash of course they do why wouldn't you for those who have yet to dip their toes in bitcoins water the widespread co-opting of the market leaders name could be overwhelming particularly when trying to figure out what which is the real Bitcoin the one with Bitcoin in the name just Bitcoin BTC Bitcoin it's not hard literally for anybody nobody like nobody in the world even a grandma you're like hey you know what the real Bitcoin is and she's like no I don't and I'm like let me tell you it's called Bitcoin and she's like okay let me and then I'll be like hey let me tell you what some fake bitcoins are Bitcoin cash bitcoin core you know bitcoin god bitcoin all and then she'll be like hey I'm 75 years old but I get it so bitcoin is just Bitcoin and all the fake ones just have some kind of other name in it and I go yes and she's like I got it now it's that easy literally it looks like a bubble hard Forks may not be the only reason Bitcoin dies in a century or so Schiller has also claimed that the gold standard of cryptocurrency could fade away in obscurity as times change one scenario is it something like what happened after 2013 when Bitcoin topped a thousand and lost 80% of its value the thick Bitcoin was just fading away yeah it looked like that however my opinion is that is it in a hundred years we won't we won't care so much about Bitcoin I think in 100 years Bitcoin may still exist but technology is gonna change so dramatically we won't be sitting at computers we won't have these very archaic cell phones even though as amazing as they are today how you can access the internet watch movies do anything you want on your cell phone it's just all gonna be archaic and 100 years so many things can change 100 years ago it was 1918 we barely had vehicles we barely finished World War 1 okay so electronics barely basically didn't exist except for maybe electricity and physics that's it so you know in a hundred years we could be on Mars like we could be giving tours to like Jupiter I don't know the amount of change in 100 years is incredible so Bitcoin may die off in the sense of being underused because another currency or some other fad or some other thing takes its place 100 years is a long time particularly in this latest generation that we live in so the difference between you know 1918 and 1818 well sure you could you could say there's a lot of notable differences but honestly it was pretty similar you know there wasn't too many major advances I mean mostly sciences there were some advances but you know but the difference between 1918 and 2018 is a major is is very very notable compared to 1818 the 1918 so you know from nineteen from so from twenty eighteen to twenty one eighteen is gonna be so much different than what we live in today so it's really hard to say what's gonna happen in a year and I almost I almost hate reading about it because I truly honestly think that something else is gonna take its place within a hundred years because I mean come on 100 years so the final article today is if Bitcoin traders rejoice bid trucks launch as a u.s. dollar trading pairs amazing because I'm tired of using tethers it's been a long path earlier bit trick CEO Bill shahara announced that the the exchange in reach an agreement with new york-based signature bank which along with other financial institutions will hold customers is u.s. dollar funds initially available only to corporate clients in Washington California New York Montana even though nobody lives in Montana who even trades cryptocurrency in Montana there's like a million people in Montana it's a very very large state but a very very low population I think the lowest population state is Wyoming pretty sure but Montana would be pretty close there's probably more than a million people but it's just you know corporate clients in Montana that's just weird that's just like okay we're gonna add Washington alright that's good we're gonna add California let's add New York uh one other state one other state one other state let's do Montana somebody across the table and they're like why and they're like all doll I just heard so many name in states but good good for you Montanans the first US dollar trading Paris will be bit Quint Heather and true US dollar so big banks lose out the movies equally conspicuous on the part of the signature that the bank is based in New York jurisdiction infamous for its bitlicense scheme it's not without a touch of irony the broad reaching and overly invasive in initiative has caused a number of cryptocurrency businesses to leave the state while others have stopped serving New York residents all together with several major US lenders including Wells Fargo because we all love Wells Fargo which previously provided banking support for bitter expanding customers from purchasing cryptocurrencies with their bank issued credit cards smaller banks like signature stepping in to fill the void good for you signature speaking about the agreement shahara commented they really do look and pour through the entire business that is that's not that's that's not how you it's not the same word poor and poor just thrown that out there they they want to make sure that we've got robust AML kyc processes that we've got the right controls on our finances I mean maybe it could be I mean poor like it like a facial pour through the business but I would think that that be like pour through through the business that's a weird one maybe you guys could have chosen a less ambiguous word for that while bit jerks can now resume US dollar trading other exchanges are struggling to gain banking support the one exception seems to be coinbase the largest of US exchanges coinbase continues to expand its suite of willing banking partners in fact they recently reached an agreement with UK lender Barclays to increase the ease with which UK users could buy and sell cryptocurrency for GBP so that's that's good because using tether and a true US dollar which are supposed to be tied to the US dollar which are you know never just a dollar is either 98 cents or a dollar three or true US dollars at $1 well well played for for tying that to the US dollar at one dollar and thirty cents so I'm glad that that that is the case because trading with US dollar makes things so much easier for anybody that uses US dollar but that is all I have for you guys today I'll tell you what I have a subscription to buy with my Virg if you guys get what I'm saying because that Virg partnership is just so good I mean here it is right here that Virge partnership is just so good so that we can all just buy our subscriptions that everybody is looking to buy and I'm just kidding but screw Virg it's like the worst currency ever it's so terrible it might almost be as bad as B cash not quite it's like it's just below B cash and then B cash is a little worse but I hope you guys enjoyed this episode and I will see you guys next time

23 thoughts on “China Calls For Lift Of Cryptocurrency Ban”

  1. LEDU COIN will dominate in the near future because of its very promising project to professionals and experts!

  2. China lifting the ban would mean that Neo price would absolutely explode to mammoth proportions in my opinion.

  3. min 6:55 … hehe 🙂 it must be the same logo designer as Hooli's Box III Signature Edition!

  4. Interesting news. it's always nice to hear positive news from China. People love FUD so whenever there are positive news it helps a lot to prevent that. I don't think I would invest in or use China's official blockchain currency though. The way they see and use internet just make me question how much will they control their own crypto. I'm staying with privacy coins for now 🙂

  5. Very good article, excellent information. China is a big community and having your support would be great, as they are now doing in Deeponion, which decided to establish an official node for people who live in China and need to connect with this project. The technology continues to innovate and, what do you think about privacy?

  6. At least twice a week when I come to your channel I get an Internal Error on Youtubes side. I have never gotten it on any other channel. It's probably big brother suppressing your channel.

    CONSPIRACY!

  7. Mexicoke, a great channel and great taste, love them myself, try a Raspberry Coke if you haven't yet so refreshing.

  8. What great about your videos is you don't need to be watching them you can get on with your work as well, they are just like a radio show. How about getting a Tunein Channel?

  9. they could rename it "gripple" and mad hulk hogan could do some tv ads where he squeezes the crypto in a mad "gripple" – till it explodes and showers success all around

  10. firget china! 😉 what crypto REALLY needs is for guy ritchie to remake "lock stock" . but instead of antique shotguns and mariguana growers. . . . we need it to feature stolen private crypto keys and a large mining farm in the east end of london that is stealing electric from its neighbours. ive already outlined the plot for 20th centrury fix studioes. its something like this : the mimers dont know they are nicking the elctric from an actual russian gang. (theres a scene where they get the lectric bill and the russian mafi grandee throws a total wobbler!) and the stolen private keys were taken from Mickafee's laptop which wasnt properly locked down. (agin the burglars didnt know they were messing with mad john mickafee)
    chaos ensues with mickafee and his friends tooling up with uzis (he has done this before)
    and the russians get the AKs . it would feature fatty vinnie jones again and if he is not dead it should also feature "brick do you know what nemesis means? top" as a guest star in a wheelchair with shotguns in the handlebars. how totally great would this film be? !

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