Bitcoin podcast agorism information45 comments
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Everybody is afraid of China closing exchanges and the Bitcoin price plummeting. People talk about it everywhere even here on Steemit. Here is why I think that we shouldn't worry that much. Of course, there will be a significant dip. This is the natural panic reaction of the market. What will happen with all the people in China who are willing to buy and sell BTC? They will look for alternative ways. In the scenario of a total trading ban, the black market for Bitcoins would explode, and we all know that Bitcoins are always more expensive on the black market.
People will start smuggling vouchers into the country and sell these on the street, and buyers will redeem their tokens on the Internet outside of China. Many Chinese people will start trading on foreign exchanges in Japan or South Korea, and soon the world will forget about China and move on. If you are a long-term investor, you should not worry about it. If you dig deeper, you will see that history repeats itself.
China banned financial institutions from using Bitcoin in We had the dip followed by a rise in the price. The only important think is to properly time your buy-in and enjoy the ride.
Thank you very interesting article and perspective. Then they will come whit a real news: You have completed some achievement on Steemit and have been rewarded with new badge s:. Award for the number of upvotes. Click on any badge to view your own Board of Honor on SteemitBoard. For more information about SteemitBoard, click here. If you no longer want to receive notifications, reply to this comment with the word STOP.
By upvoting this notification, you can help all Steemit users. Stay calm and keep hodling! Authors get paid when people like you upvote their post. And I think the media is overreacting at the moment. You have completed some achievement on Steemit and have been rewarded with new badge s: For more information about SteemitBoard, click here If you no longer want to receive notifications, reply to this comment with the word STOP By upvoting this notification, you can help all Steemit users.