Just wondering what your thoughts are: lately there has been talk in the news about China 'cracking down' / banning ICOs and potentially targeting exchanges.
Possibly just rumours - but if this were the case, how do you think this will impact the availability of ASIC miners to the cryptomining community, seeing as the majority of these miners are produced in China?
And with regards to the China "crackdown", this is not the first. This has happened quite a few times now. And yet, cryptocurrencies including Bitcoin and Dash are still chugging along.
Some analysts feel that big players in China are doing this intentionally to introduce more volatility so they can game the system.
1. Announce some scary crackdown
2. Prices drop 8 or 10%
3. Buy a bunch of their favorite coin
4. Watch price recover in 1-3 weeks
5. Sell a bunch of their fave coins to make a pot full of money
6. Wash/rinse/repeat
Yeah, I'm about that skeptical.
Or, another popular explanation is that the Chinese leaders desperately hate the idea of their citizens getting access to money that the government doesn't control, and can't easily monitor or even find.
In the first scenario, eventually, they will cry wolf so many times, people will either ignore them, or start buying the dips even more aggressively to beat them at their own game.
In the second scenario, both sides will eventually realize that cryptocurrencies are already censorship resistant, and will eventually end up virtually immune to outside government interference.
In the long run, regardless of which is the fundamental cause, the cryptocurrency ecosystem will get bigger and stronger and more valuable.
