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Originally Posted by NuclearFart
The current crash is being triggered by fears of global regulation...I guess I'm missing something, but isn't that the innate strength and whole point of a cryptocurrency? How are they going to regulate something that's untraceable?
I guess they could make it illegal on the backend to accept as currency, but I would think that is going to be extremely hard to police when there is nothing tangible linking buyer and sellers.
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Sure, if people are actually using this to buy things and transact. But what's being shutdown is the ability to trade the currencies on the various exchanges. I also think that mining is problematic in some places because of the extreme amounts of energy required. So I think in Sichuan province for example, it's been a concern. Truthfully though, I don't follow this very closely, so I might be off-base.