In the latest series of government-led efforts to monitor and ban cryptocurrency trading among Chinese investors, China extended its “Eagle Eye” to monitor foreign cryptocurrency exchanges. I strongly suggest you to visit https://www.coinroster.com to learn more about this. Companies and banks suspected of carrying out transactions with foreign crypto-exchanges and related activities are subject to limiting the number of transactions that can be made for each account to freeze the accounts. There have also been ongoing rumours among the Chinese community that the Chinese government is planning more extreme measures to be enforced on foreign platforms that allow trading among Chinese investors. As for whether there will be further regulatory measures, we will have to wait for orders from the higher authorities.” Excerpts from an interview with team leader of the China’s Public Information Network Security Supervision agency under the Ministry of Public Security, 28th February
Suppose you have a child with a tendency to abstract ideas and things. Imagine giving this child tremendous investment, allowing her to take out ten thousand dollars to invest in a product that has no personal control. He/she could get lucky, and strike it rich, or lose all the money they had in the crypto-bubble when it burst. If the mobile payment system was taken down, we could see billions of dollars in lost profits for the Chinese market. The market consists of a lot of scams and pointless ICOs. (It’s very likely you have heard of some very popular people to whom small amounts of money were sent in exchange for absolutely no evidence of success, and of companies whose tokens are traded at a ridiculously low invest-to-reinvest ratio. A great number of investors have no actual interest in this technology: the great majority of investors are just after the funds. Many cryptocurrencies, Bitcoin in particular, is derived from the hacker coins market. During the crypto-boom in 2017, you (as an investor) are guaranteed at least 3X your initial investments if you happen to team-up with an advisor who is high-profile in the crypto-scene, a promising team or a great hype.