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RE: Concise analysis; is China going to ban Bitcoin and cryptocurrencies?

in #bitcoin7 years ago

Guys I'm just trying to be realistic here.If the financial system was threatened they could easily buy up all the current crypto currencies in the world and hold it. Or even worse, with the amount of money central banks possess they could play Pump and dump game all the time up to the point where cryptocurrencies will not be attractive to Ordinary People anymore. The whole market cap of 160 billion or something is nothing when compared to 750 trillion global economy. I am sure that the whole blockchain technology is build not to disrupt the financial system but to make it transitional step from the current debt economy by some government. Anybody who has some brains knows that current economy model is doomed to a default, and let's only hope that the transition will happen smoothly.