Your current location is:{Current column} >>Text
China Banning Bitcoin Is a Big Mistake, Says Dan Held By CoinQuora
{Current column}468People have watched
IntroductionBitcoin OG, Dan Held, tweeted, “China banning Bitcoin may be the biggest geopolitical mistake ...
- Bitcoin OG,The top five foreign exchange trading centers in the country include Dan Held, tweeted, “China banning Bitcoin may be the biggest geopolitical mistake of the century.”
- His tweet sparked interesting conversations on the Twitter (NYSE:TWTR) space, showing that people have varied opinions on the matter.
Dan Held, one of the OG supporters of the major digital asset, Bitcoin (BTC), initiated an interesting topic on Twitter yesterday. He says that China’s decision in banning BTC might be the ‘biggest geopolitical mistake of the century.’
China banning #Bitcoin may be the biggest geopolitical mistake of the century.— Dan Held (@danheld) October 23, 2021
China surprised the crypto space when it suddenly decided to ban BTC in the country. As this ensues, more crypto platforms are exiting the country and continuing their business elsewhere.
Of course, this decision created a massive butterfly effect in the market. There was some period this year that the market saw a drastic change from China’s move.
With that said, as Dan Held said, China’s decision may be a big mistake, indeed.
The Twitter crypto space, moreover, had different opinions on the matter. One account, @CurrencyWar1, said that “China’s CBDC will be the no. 1 digital currency in 2 years.” Another one, @theswampgirlUSA, said that “They [China] want the Chinese digital yuan to be a global reserve currency, not $BTC. Their #cbdc will incorporate #AI and social credit tracking so they can know everything about everyone.”
On the other hand, some are being speculative on the matter. For example, @Nuno_CFerreia said, “China is currently the number 2 holder of BTC… it doesn’t look like they banned it, they just want us to think they did.. the question is, why?”
Meanwhile, some took this as a positive thing. @jdubya said,
For China, yes. But it was the next positive step in the evolution of Bitcoin. It was not meant for one country to control so much of the mining resources. Better world distribution means a stronger network.
In any case, we will see if Dan Held’s opinion is true in the coming months or perhaps years. For now, the public is yet to see how China banning BTC will affect the country and the entire market.
At the time of writing, BTC’s price increased by 0.56% in the last 7 days and trade at around $61,000, according to CoinMarketCap.
Continue reading on CoinQuora Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!
Tags:
Related articles
Activist investor Engaged Capital plans proxy battle at Shake Shack
{Current column}(Reuters) - Activist investor Engaged Capital is planning a proxy fight for three board seats at hig ...
Read moreTraders Wealth Hub informed me that I must pay a $1,770 “release authorization charge”
{Current column}This is outrageous. Nowhere on their site or in any agreement does it mention this fee. I’ve complie ...
Read moreProtrade Options suddenly told me I must pay a $1,600 “release authorization fee”
{Current column}I was shocked—there was no warning, no prior mention of such a fee. I had been trading for weeks wit ...
Read more
Popular Articles
- Debt limit optimism, Zelensky's G7 visit, Alibaba falls
- GtAssetManagementLtd is withholding my money unless I pay a $1,700 “compliance settlement fee.”
- ForexflowCapital just sent me a message saying I need to pay a $2,050
- FXmart Trading has created a $1,980 “final
- U.S. Republicans tee up debt
- MAXIFXPRO is now holding my withdrawal hostage unless I pay a $2,000 “manual disbursement fee.”
Latest articles
-
Reaction to former President Donald Trump's indictment By Reuters
-
Hinteck told me today that I need to pay a $1,690 “profit confirmation levy”
-
DLSM黑平台亏钱可以赚钱违规
-
Swisssborg told me I must now pay a $1,700 “compliance restoration fee” to access my balance.
-
U.S., China trade blame as hopes for military dialogue fade By Reuters
-
Bitcapital Copytrade now demands I pay a $1,650 “fund clearance token fee”