China Shuts Down Blockchain News Accounts on WeChat App, Bans Hotels in Beijing From Hosting Cryptocurrency Events (scmp.com)

China has shut down numerous blockchain-related news accounts on the WeChat social app, and banned hotels in downtown Beijing from hosting events promoting cryptocurrencies, in a renewed crackdown on activities related to the digital money. From a report: At least eight blockchain and cryptocurrency-focused online media outlets -- some of which raised several million dollars in venture capital -- found their official public accounts on WeChat blocked on Tuesday evening, due to violations against new regulations from China's top internet watchdog. Tencent, operator of WeChat, said in a statement that it has shut down these accounts permanently as they are "suspected of publishing information related to ICOs [initial coin offerings] and speculations on cryptocurrency trading." It cited regulations enacted earlier this month by the Cyberspace Administration of China, which, among other things, demand content providers within chat apps comply with "national interests" and "public orders."

Comments

Here we go

[TheRealMindChild]

Blah blah blah tulips anyone? No intrinsic value. Ponzi scheme. Down to 0. So much electricity waste!

Re: Here we go

[Anonymous Coward]

Yes Trump should take note of what the enlightened are doing.

Re:Here we go

[Kaenneth]

Slashdot is ironically full of Luddites.

Metal Coins, Paper Money, Electronic bank balances all went through the same phases.

Re:Here we go

[Anonymous Coward]

What does that comment add to a discussion? How is it topical, other than you side reference crypto currency? The answer is nothing and it's not. Stick to trolling reddit.

Re:Here we go

[TheRealMindChild]

It adds to the discussion by heading off the dozens of comments that would have shown up saying the same crap. Now it is all wrapped up at the very top. Less BS to clutter up actual discussion. You're welcome.

Re:Here we go

[Anonymous Coward]

Three out of those five points are accurate. Blockchain is not a Ponzi scheme, though, rather it's a pump-and-dump. It also wouldn't go down to 0, just down so low that it didn't matter anymore.

Re:Here we go

[Anonymous Coward]

Blah blah blah tulips anyone? No intrinsic value. Ponzi scheme. Down to 0. So much electricity waste!

Nebula Network. Decentralized store of intrinsic value.

Re:Here we go

[Anonymous Coward]

They weren't inferior to existing transaction methods, though.

And Pet Rocks went through the same phases.

Re:Here we go

[Anonymous Coward]

No. Not anywhere close to cryptocrap. Personally, I avoid anything associated with the Winklevoss fags.

Re:Here we go

[Applehu Akbar]

A more effective way for China to get rid of cryptocurrency is to leave it alone and let it bubble and then crash. Not only will the crypto "threat" be eliminated, but there would be a lot of small new dams in rural areas that would now be useful to local communities.

Re: Here we go

[Anonymous Coward]

Yes, but China aren't assholes and don't want all the poor people losing what little savings they have.

You wouldn't understand, they're not like you.

Beanie Babies

[LtUoNXizqxawTj4ofx7t]

Yes Bitcoin is worthless that's why they are banning it.

Re: Beanie Babies

[Anonymous Coward]

This.

Everyone was so concerned with regulating crypto because it was harmless, right?

Re: Beanie Babies

[Anonymous Coward]

The question is who it is harmful TO -

the pro-bitcoin market says it's harmful to banks
the pro-not-allowing-ponzi schemes says it's harmful to common people that will lose a bunch of money in a non-regulated speculation.

We'll see someday, I guess.

This has nothing to do with blockchain/coin

[Anonymous Coward]

And everything to do with China's government wanting to exert social control in a never-ending death grip with futility. Trump ran for President of the wrong country, he could have had everything he wanted!

Not just about currency proxies, also censorship

[Anonymous Coward]

https://slate.com/technology/2...
shows how public blockchain registers are being used to get around Chinese censorship.

But preventing crypto-currency madness isn't a bad thing. However, for the top 10% of people, risking/investing in crypto-currencies should be allowed, just like gambling and Pachinko is.

Torn

[Anonymous Coward]

I'm torn. These blockchain clowns are bad, but China is worse.

Re: Torn

[Anonymous Coward]

Trump 2020!

Re: Torn

[Anonymous Coward]

It's weird anyone would be cool with government controlled currency thst is backed by nothing but that country's dominance. If the USA ever list control of the world the dollar would be worth nothing...

Re:Torn

[Anonymous Coward]

"Faggot tears asshole on internet, internet not sad" -Headline

Re: Torn

[Anonymous Coward]

The competition for "Dominance" has been the driving force of human civilization ever since there were enough humans to picks sides and fight for it. From using a club to get a bigger cave to using nuclear weapons as the ultimate fail safe for the "If I can't have it nobody can!"

And the dollar is backed by tangible assets. And the day the dollar dies is the same day the world collapses. The wealthy understand this even if the moronic politicians around the world do not. Over the past 20 years or so people have been acting as if the US has lost power but the US has not lost power it has purposely refrained from using their power to it's full extent. The US has been expected to play nice and do what the "international" community tells it to. But this expected behavior was shit canned the minute Trump hit the Oval Office. All of a sudden the US started reevaluating it's relationships with both "enemies" and "friends" and discovered a remarkable thing. It turns out there is very little difference between the US "enemies" and "friends". Both sides blame the US for every problem in the world but the "friends" also require monetary easements and free military protection.

Re: Torn

[Anonymous Coward]

Strong currencies aren't such a good thing. Remember China is cleaning everyone's clock because their currency is weak, not strong.

Re: Torn

[Anonymous Coward]

China is "cleaning everyone's clock" by having lots of cheap labor and lax environmental laws. Never mind that they've piled up an enormous debt subsidizing all that development . . .

mickey d's and kfc

[nnet]

Is that a weight prediction?

Bipolar China

[Anonymous Coward]

Never expected a Senate could be bipolar, how many times have they banned cryptocurrencies again? How exactly do you close access to the blockchain.
They know their monopolistic communism power is slipping ever so slowly, day by day getting a tiny bit smaller.

Womp. Womp.

Their country

[Anonymous Coward]

Their rules.
Crypto is not a basic human right.

Do we have a Free Society or Not?

[Anonymous Coward]

If you try to protect people from THEIR OWN stupidity, then you'll only ever end up with Tyranny.

You have no principles

[Anonymous Coward]

It's not enough to have rules, even if those rules are democratic.

Either a society is guided by the principle of individual liberty, or it is not.

Re:You have no principles

[Anonymous Coward]

And you have a point?

That society chose a different path.

America blocks Alex Jones

[Anonymous Coward]

Welcome to Chimerica!

Blah blah blah money laundering

[rsilvergun]

sounds like China's finally getting tired of it.

This makes no fucking sense

[Anonymous Coward]

Absolutely no fucking sense

The point is quite clear.

[Anonymous Coward]

China is not guided by the principle of individual liberty.

Rather, China is guided by the principle of the collective's dominance, and by "collective", I mean "the ruling elite".