Breaking: China To Shutter All Bitcoin Exchanges - An Interview with Simon Dixon of Bank To The Future

in #bitcoin4 years ago

Late last night I was able to connect with Simon Dixon of Bank to The Future from live on the ground in Shanghai about some of the latest breaking news in the cryptocurrency space.

The criminal Chinese government announced that it will use violence to force all Bitcoin exchanges in the country to close. This comes after them using threats of violence to ban ICOs (Initial Coin Offerings) which they have done in the name of “protecting investors.”

Up until this point the news has been rather vague and mostly rumor filled. But Simon reports from on the ground to let us know that not only is it happening, but it is happening effective immediately.

We discuss all the ramifications in this exclusive interview.

Subscribers to The Dollar Vigilante newsletter were able to watch this interview live and received access to it 12 hours before the rest of the public as we often do. So, to ensure you get all the best information in the crypto space make sure to subscribe to The Dollar Vigilante newsletter HERE.

Fortunes are regularly made and lost in the crypto space and much of it depends on getting access to good information before the rest of the crowd. So, stick with us here at The Dollar Vigilante for the best crypto coverage and analysis on the internet.

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All this will make Bitcoin the most powerful decentralized thing stronger

Yeah, just one head off of what these crazies see as hydra (:

Not sure, one of the big booms in bitcoin was when the Chinese decided to adopt bitcoin "by the people of free will of course!" and use them but you could also be right. Any time a intruding force trys to tamper with things that are align with the natural flow of things it always back fires. This is very interesting for sure.

i fully agree, marco!!!;o)

Btc will rise this year to moon!

But i think this in Btc will hold and go even future!

because China will they be back after the election in Oktober! ; )

mark my words here!!! ;o)

Also upvote and resteemed! :o)

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Noticing a lot of Chinese are moving over to the BTS DEX. The telegram chat group has also exploded with over 1000 new members in just the last week.

Bitcoin is going to make the haters broke 🔥🚀

Transfer of power ???
This is valuable to learn how to use crypto.
Good stuff !!
Learn ! Comprehend ! Study!

Bitcoin back up to 4000 USD tells us that cryptos are here to stay...No government or big corporation (JP Morgan and Bank Cartels) can shut it down...Chinas test showed us that...No more Illuminati Jekyll Island type bank cartel meetings (

)..

Bitcoin price now proves how resilient Bitcoin and other altcoins are...No government can shut it down...

Yes, for example, BTS DEX has gained volumes for Bitshares and other cryptos. This is good cause decentralized exchanges.

So what should we do? Another countries will get innovative technologies and perspective platforms then

Chinese can travel to Russia and buy bitcons there.

It's that simple, chinese can change their ip and use ico or exchange, why you need to travel for that. ☺

That is probably not a very wise move in China.

All big operators already moved to Japan... just take a look at japanese BTC volume today...

Come on people, you can not expect the world banking cartels to just sit back and do nothing as we start to pry off the economic chains of servitude they have so carefully crafted for us. The BRICS Asian Development Bank, the Federal Reserve System, and the International Finance Corporation can only be distracted by their own private power struggles for so long while the masses begin to mobilize to cut their metaphorical puppet strings that keep us dependent on these current economic tyrants. The real question is how to proceed despite these drastic measures they are bound to take.

Thank you for providing info and news concerning the crypto market. That really helps me a lot with my trades. Chaina owns a big part of the market and sure is important to be up to date with the news.

Now every time we see China in a title the feeling is annoying, don't like it to be so

Bitcoin is completely robust & anti-fragile... Every time it's hit, it only gets better & stronger.
Remain Calm & HODL! :D

You know it quietbear!

ICO.jpeg

Hands up you ICO-terrorist. Now give me the private key

ha ha ha exactly

Byte me CHINA!

pocketsend:[email protected], the beard is coming in nicely bro. Leave it up to the communist Chinese government to meddle with people's opportunities for financial freedom via bitcoin exchanges.

Can they shut down Bitshares Decentralized Exchange DEX?

Enjoy some Pocket tokens as a tip.

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Thank you for last news ;)

China has been controlling the market for a while, now after all this dist gone, we will see a slightly increase in Cryptomarket capital in a couple of weeks.
But it just need to take couple of weeks and maybe a month.
Crypto is the future.

ALL THE WAY UP, Phuck You Ben Bernanke.....................

Any thoughts on how this will affect bitcoin and altcoin prices in the months and years to come?

@protoken This will greatly affect trading platforms because there will be a Transfer of Supply. You will notice this in some exchanges wherein new coins listed are from the Chinese Markets and cryptoinvestors are switching platform and taking precautionary measures. A demonstration of decentralization is in play. Surely, China wants to know how the market adapts and learns from it. I think years to come, China will wholeheartedly accept these Exchanges again because banning it won't stop Bitcoin and Altcoin's success.

This will be positive for the long term of BTC & LTC. This is not the first time China has banned exchanges. It did in Dec of 2013 and when they reopened it shot up, color me surprised if they do the same thing again. I noticed none of the mining farms have been asked to close. CryptoCowboyRocks

I read somewhere else that the ban is likely just a temporary thing, the same as you're saying. Maybe it's just a show of power, without real long term policies backing it.

Its the gov't flexing until they can figure out what to do, they know it can't be stopped just need to do their best to "shut it down" until they figure out how to regulate and or get their share. Which the may for a little while.

Especially in the cryptos world, the users have plenty of technical knowledge to work around most governmental obstacles. For certain countries, this is definitely a good thing.

My belief is, this just makes it more robust. Fast growth is not healthy growth; slow growth creates stability and longevity.

I agree. A slow, steady growth is sustainable growth.

Well, people are telling me to HODL, but I think it's the perfect time to buy. China hysteria will be quite lucrative in a month or two. Expect a rebound before 2018.

Buying is the same as HODLing... :)
just say'n...

Holding is what buyers do when they have no fiat left to buy with.

It effects on bitcoin price.

China absolutely loves currency manipulation. Getting in on Bitcoin was a move that had to happen sometime, and it looks like they're starting to ramp things up.

Additionally, impacting Bitcoin like this shows other countries that China can cause large effects on such economies.

Though it's sad to see China make moves like this, Bitcoin will chug on with or without their support.

As the dip is going on, try to get in on Bitcoin! You'll always "miss the boat" as the video said if you never buy in ;)

Thanks for the video.

My personal thoughts on the matter is that this is temporary and China will remove the ban when all of their regulations are in place for Exchanges and ICO. With the insane amount of money flooding into crypto currencies in investing,trading and ICO funding, they want their piece of the pie $$$.

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But report said based on interview of the top analyst name Lola in Crypto. They believed that the halt of ICO and stopping of exchanges is temporary. According to report there are a lot of Communist Part Political Leaders are connected with Chinese Billionaire and Chinese government I believed after meeting on 15 Oct. 2017 they allow ICO and crypto trading again to raise more funds and to build many infrastructure projects which is the wise move.

I think china is doing a great mistake by banding the crypto, on the othehand china is a great economist and understand that mistakes which fill down the economy. so he has best idea in his mind after Bitcoin.

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(()

And then they buy the dips right along with Jamie Dimon.

No wonder why the inventor of Bitcoin kept himself anonymous!


And we will never know who they are???

Dammn !!!

I've noticed an increase in other exchanges after these announcements. Clearly, cryptotraders are now smart enough to enjoy cryptocurrencies where cryptofreedom is exercised. It only shows how powerful is a decentralized environment and we can all learn from China's mistake.

People should at least ask what the worst case scenario could be. That was my question, and I asked it before China made its last crackdown.

What happens if the banks shut down all fiat to crypto and reverse transactions?

The banks are the real government, and the banks control payment systems and our bank accounts.

What happens if what China is doing spreads? Remember that almost all banks are subordinates of the BIS. It is possible.

Hey everyone I have an interesting idea lest stop limiting bitcoin to the moon. Bitcoin is going to slingshot past the Moon and into the stars beyond deep space and into the Great Void! Limitless

Does anybody know a good and legit decentralized exchange????

this speech nice

Just bought the Backwordz album off bandcamp. Epic, thanks for the heads up on this band Jeff. Legend.

I'm 10 min into the interview with Simon. It seems the government wants to take credit using censorship under threat of arrest to the pioneers and people who paved the way. So sad.

Damn... Wheres all the fearmongering and U.S. Hate speaches?

This is now 2 articles in a row where I had to read/watch and felt compelled to upvote. I'm not sure if this is a head fake or your just getting good, but you almost have me singing up for that newsletter.
I'm not there yet. Maybe 1 more..?

They have got in all cheap!

Bring it! All this news means buy buy buy:))

I have been loving the twists of this. For those of us who are into mining and arbitrage, this has been INCREDIBLE!

I'm making some popcorn and watching the volatility and the speculation...oh, and buying more bitcoin daily while some people continue to $h!t their pants.

FUN TIMES! ^_^

great interview Jeff! it's nice to hear it from somebody who is actually there to witness. where there's a will there's a way.

I really don't think China is going to do this for good.. They're just wanting their slice of the pie. Come beginning of October I bet they will announce their own "sanctioned" exchange for their people...

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I hope Chinese will not have an impact on the price, but that is a lot of people will not be able to use bitcoin around 1.379 billion

hi @meno , some useful info here. Do follow.

I guess I need to study up on hard wallets, thanks for the inspiration.

Nice! Super useful information and a live earthquake... superb!

Thanks for the heads up!

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This is an very bad decision of the china government because you could not force your public for stop the utilisation of there money

Just watched the interview video on the YouTube channel. China can try to slow down the progress of BTC but they will never succeed because no central government can go against a blockchain technology that is de-centralized and offers all its participants a true trustless system.

I think that the flow of cryptographic currency, ICO including BTC, which the Chinese government regulates and prohibits, can not be stopped in the future.
I think that the news goes far beyond the "government-led initiative", and that the cryptographic currency and ICO will continue to be used more actively.
Also, even if the full ban on transactions in China is true, I believe that trading through overseas exchanges will be continued, so I think that this case is almost settled.

Great interview! China will not want to miss out be interesting to see what they do in 6 months from now.

I think chines investor will find another ways to invest in crypto ;)

They already did!

This isnt the first time China has done something like this and definitely won't be the last. I wouldn't be surprised if there was some insider information and back door BTC exchanges going on. The Chinese seem to start the dump and then buy back cheaper on other exchanges.

Fascinating, great interview!

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I think China's move will make Bitcoin more stronger. Just wait for Bitcoin's rebound.

It's a shame what China is doing in order to protect investors. Most people will still mine coins there while others will be targeted for political reasons. At this point they may be after the big boys but we all know how things tend to trickle down. Bitcoin is here to stay and trending in a positive direction.

Thanks for share. No one can stop bitcoin except the internet die. Follow you. thanks.

Thanks for sharing these updates @dollarvigilante .

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Crypto space needs harsh news like the China one for the world to realise that no single country can control the crypto revolution. Currently there are only about 300,000 accounts with more than $5,000 yet with a valuation of over $120 billion . The prediction of bitcoin reaching a million dollars is within reach when more than a million accounts hold more than $5000. My advise guys, buy now for the long haul.

Great news, because I want to buy cheap coins!
Thanks China!

Thanks for sharing.go ahead.

On ya Jeff love your work have been following you for years

I appreciate this post Jeff. FUD everywhere. The China government is trying to protect the Yuan.
China will close the Exchanges only for so long, but the price of BTC will explode soon because of all this.

Buying time, back the truck up...!

Bitcoin will rise !!!

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Thanks for sharing

For those of you that have been into cryptos before, will know that they´re very volatile, doesn´t matter if they drop on price, they will rise again, BTC broke the $4000 dollar barrier again

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The shutdown wont be for long. The real reason is because the chinese are changing their remimbi to bitcoin and investing in opportunities overseas and the govt sees this as an outflow of resources. The country wants to focus on domestic development rather than use its wealth on development on foreign soil. So shutting down existing exchange facilities is the fastest and most effective means of control.

Great interview. Learnt a few things about China and the ICO ban.Let them shut the exchanges as they like, one thing is for sure, bitcoin and cryptos aren't going anywhere :) We will see new decentralized exchanges like bitshares come up :)

Upvoted, re$teemed & following!

what is your view on litecoin ,
It seems to me thats is very similar to bitcoin if not the same with a greater market cap
thus making the price lower but isnt 50- 60$ way too low ?

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When will this scam be over???!!

Well, I think this is a sense of fear and resistance to change at a global level.. Nothing surprising, history tells us that we are never too good with a massive change, specially if we have stakes to lose! I heard similar news in my country, Pakistan, where our so-called democratic government is trying to discourage bitcoin activities and transactions by false accusations of fraud and tax evasion and imposing senseless regulations.

I think this uncertainty among the big guns worldwide proves the decentralized system is what we're heading towards, finally! :)

Cannot believe this

Just keep buying monthly no matter what the price is...I think it's the better solution if you are planning a long term investment in crypto, if you believe into the technology, rumors, news and pump & dumps should not affect your choices

Absolutely. Real bitcoiners understand the technology and just see this bad press as buying ops

This may cause the increase in crypto market. And that's a bad decision of Chinese government, I don't think they will be able to control people managing their money. Especially Chinese will find a way to do it.

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