Easy2Mine



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Re: Interview in English about the Chinese situation April 06, 2014, 10:02:31 AM

Last edit: April 06, 2014, 10:20:08 AM by Easy2Mine #7 The Chinese goverment wants to control it, the chinese government is trying to do the right thing

The government is trying to tell people this is not a currency, this is a commodity, this is a trading item, its not money.

People don't know what btc is, they just heard other ppl buying it and making money, everyone wants it, its like gold,

its like something going up.

Many people buy, the bubble become bigger and bigger, its become to look like a pyramid, people on top become richer and richer.

Like a pyramid, it has to build on a base, this was not build on a base, this was build on speculation.

Like in a real economy there need to be services to be use with btc, that was not the case in China, but those services are already build in

america and in europe.

In China BTC is used for trading, it is not considered a currency, its not like RMB (Renminbi)

Exchanges are popping out of the ground, it become easier and easier to buy btc.

Third party payment processors and banks offers easy way to funds accounts, it become easier and easier to convert RMB to BTC and visa versa



It become dangerous because ppl don't know what btc is, they just want to buy it.

Price become higher and higher, some peoplel buy at the top and start to lose money after btc drop.

Price of BTC going to fast, it's not sustainable





The Canadian guy talks about what he has hear and read about

people on wall street sees it, they want it to, they want to control it , they like the protocol, but not at this price.

because it was 2 years ago 17 cents and now it is 1000 dollar, we not going to touch it and buy at this price, so they are trying to disrupt it.

They are crack down the prices.

It happens more or less in the way he thinks it will happen in february this year

Ppl from the financial districts of america, britain and hong kong, the ppl with enomous skills in money manegement,

What have they done, they built services on bitcoin, not trading bitcoin, they don't care about bitcoin.

they building infrastructure.

They building arbitrage, ATM, the ways you can use the wallet easily like Coinbase.

What did they do in China beside building exchanges for buying and selling it, this is a problem in China

Thats why the government is stoppin it, BTC is legal and you can trade it like commodity as much as you want.

But converting it to RMB and visa versa will not be as easy as before

Thats a very smart move on the part of the government.

What they trying to do is to protect itself and protect it main currency just like other countries are doing.

They forbid the banks to trade directly in bitcoin and closing accounts for easy conversion

They are stopping new foolish people to get into bitcoin, they are protecting people from its self.

Their job is protecting stupid people from doing stupid things.

The new inflow of people don't know what bitcoin is, they are just thinking of get rich quick without knowing what to do with it.

Bitcoin is a fact worldwide, it can't be stopped even if it crashed, it is still be there, its still an alternative currency.

China is the drive of world adoption of bitcoin, but the Chinese government is also the first government that is going to pull the

strings to protect the ppl and also the world for running to fast.

They are protecting people from this bubble, it is their job





This is almost literally what is said in the video leaving out some FUD from the Canadian guy, there is more, but I don't have time now.

You should watch it yourself.



The Canadian guy is a paying shill, he has already been identify by user Azeh.

If you can understand Chinese and have watch other videos from bitcoin meetings together with this video, you will see that the future is brighter

than we have hoped for.

I have a lot to do today.

Will try to post some info if I can find some time.