Hi fellow Steemians I have been really confused lately about China's position and the talks of alleged bans on ICO's, I am far from stupid I would hope, but I will admit that I am a crypto currency newbie. Bearing in mind I don't watch telievision or read any newspapers or daily journals from the main stream media outlets the reason for this I will leave for another blog just know that I am an open, free thinking individual.
MY UNDERSTANDING OF BITCOIN & CRYPTO CURRENCY
It is my understanding that bitcoin and alt coins are decentralized forms of digital currencies that have not been created by central government financial institutions, if I have this basic understanding wrong could someone that is more knowledgeable correct me by commenting on this post. Based on the above statement being true how can China or how will China be able to conduct this ban, will they go to the owner of the blockchain ( this is the platform that the currencies are built on) and tell them that they cannot conduct any ICO offering in China? I thought that Bitcoin and alt coins belongs to no entity hence it being decentralized not attached to any corporation or government body, and it runs based on the security and trust of the blockchain platform and it's users.
WHY ARE PEOPLE PANIC SELLING BITCOIN AND ALT COIN BASED ON HEARSAY.
Have China issued a statement on how they will proceed or the process they will use to enforce this ban, if so could this information be added to the comments in this post thank you. So if my understanding of all the above is correct in my layman/woman way of thinking, why would investors of crypto currency go into a frenzy about China or any other government for a statement made or unmade without any type of process or whitepaper in place to enforce such an action. The law calls this type of behavior hearsay and I never work off the hearsay of a corrupt system that I am trying to rid myself of daily.
CRYPTO CURRENCIES ATTRACTIONS
I got into crypto currencies as I saw the opportunities of being able to lift others and myself into financial freedom, to also get me away from the grasp of the ugly, greedy, corrupt governments, fat cat over paid self indulgent banks and bankers. I took the plunge into crypto currencies Steemit and openbazaar to be my own bank, so that corporations could stop having one over on me. I invested what I could afford to lose a few months ago now, I made the decision in FEAR that was instilled in me by society, government institutions and the constant lies they feed us with that drive us into need and despair. This fueled pushing machine of FEAR which the government, financial institutions, corporations and the media feeds society on a daily basis, making us believe that all the bullshit they feed us is real and for our benefit. This FEAR gave me my greatest courage in a while to take a chance to believe in myself, to be strong, bold and take hold of my life, financial insecurities along with all the lies I was fed for years and be free truly free. I took the leap into crypto currencies to get away from institutional bullying by the few.
SMALL INVESTOR GROWING DAILY
I would ask the financial wizards and long term investors in crypto currencies in the Steemit community to kindly break it down for me in the comment section of this post if any government can stop, cancel, delete or end Bitcoin and alt coins movement? If the government are unable to control digital currency then could someone help me to understand why people are selling in fear, as I think that I must have clearly missed something in the market and I would like to learn as a new investor so I can recognize the governments control in the crypto market, which I was not aware they had any control over.
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I seriously would like some help and clarification in this matter, my mother say's if you don't know ask until your know each one teach one living. Do comment, follow, upvote and resteem this post so we can learn and grow as a community love n light.