China bans gamers from making moral decisions, femboys, etc

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Gonna be honest, cryptocurrencies are dumb and the mining craze is not just harmful for the environment but it literally has no legitimate use and does absolutely nothing for society.

Every once in a while China will stumble into a good policy.

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

[Resilient Acceleration]

the last time I was there, the thread said gaming and femboys (i guess that relates to idols?), now it's crypto, fandoms and BL (whatever that is)?

BL = Boy's Love, or a genre that depicts gay relationships. It's quite popular in China. (And I don't know why I was really late in realizing this, probably because my country's widespread culture of homophobia, but it is now incredibly obvious that the primary market of BL content are not gay people, but women.)

[Infected Mushroom]

Every once in a while China will stumble into a good policy.

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

I don’t see a problem. If the government can see how everyone uses their money (and even directs it to an extent), it can help to ensure a better economic order. Also, it would be easier to find out who’s been spending money illegally so it would help with law enforcement.

[The United Colonies of Earth]

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

I don’t see a problem. If the government can see how everyone uses their money (and even directs it to an extent), it can help to ensure a better economic order. Also, it would be easier to find out who’s been spending money illegally so it would help with law enforcement.

Just a heads-up, I'd rather not have the kind of fuckers who listen to Tucker Carlson be in any position to know what I'm using my money on.

[Necroghastia]

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

I don’t see a problem. If the government can see how everyone uses their money (and even directs it to an extent), it can help to ensure a better economic order. Also, it would be easier to find out who’s been spending money illegally so it would help with law enforcement.

my transactions with certain reptilians of dubious morality are between me, them, and the holy fucking ghost
"better economic order" lol what does this even MEAN
also i know it will never sink in with you but it bears repeating anyway: not all laws are good, and no law is good simply by virtue of it being a law.

[Diahon]

Just in: CHINA BANS ALL THINGS RELATED TO CRYPTOCURRENCIES, violators will face criminal penalties.

China's central bank has announced that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin.

"Virtual currency-related business activities are illegal financial activities," the People's Bank of China said, warning it "seriously endangers the safety of people's assets".

...It is the latest in China's national crackdown on what it sees as a volatile, speculative investment at best - and a way to launder money at worst.

https://www.bbc.com/news/technology-58678907

Tbh, not surprised. Especially with the rollout of the digital Yuan, which basically gives the CCP direct access to everyone's money supply in the country - where they are, how they are used, how they should've been used. I've heard claims that this will allow the CCP, for example, to unilaterally put a "time limit" on people's savings, with the threat of the erasure of said money if the time limit runs out, to force the people to spend their money during a recession as to try to boost the economy. But I haven't been able to verify this claim.

Takahide Kiuchi, executive economist at Nomura Research Institute and a former Bank of Japan policy board member, called the latest move an "extension" of measures to "ban all virtual currencies except central bank digital currency."

https://asia.nikkei.com/Spotlight/Crypt ... yuan-nears

while i have no love for cryptocurrencies, and and i'm sure most chinese have no problem being tracked by an obsessive poohbah for every conceivable economic transaction, that this e-rmb is in the hands of the ccp and the technology for it to be recognized as a currency exists within china only... well, those are problems

so, too, is the prospect of governments worldwide adopting this, not just to keep track, but to isolate in toto -- that last must be what the ccp ultimately has in mind

[Diahon]

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

I don’t see a problem. If the government can see how everyone uses their money (and even directs it to an extent), it can help to ensure a better economic order. Also, it would be easier to find out who’s been spending money illegally so it would help with law enforcement.

ah, yes, spending money on everything "illegal": remotely girly-looking guys, idols, video games, homosexuality, democracy...

(and how most fortunate that you've divested yourself of those attachments, just before xi made his move on them! truly, to so humiliate yourself before authoritarians!)

everything is "illegal", really, save prostrating yourself before your most adorable poohbah

[Ifreann]

China bans crypto and Grimes dumps Elon. Tough times for a specific kind of internet weirdo.

[Ethel mermania]

Gonna be honest, cryptocurrencies are dumb and the mining craze is not just harmful for the environment but it literally has no legitimate use and does absolutely nothing for society.

If you don't mind international monetary policy pretty much determined by the US Federal Reserve Bank, sure.

[Holy Tedalonia]

I don’t see a problem. If the government can see how everyone uses their money (and even directs it to an extent), it can help to ensure a better economic order. Also, it would be easier to find out who’s been spending money illegally so it would help with law enforcement.

my transactions with certain reptilians of dubious morality are between me, them, and the holy fucking ghost
"better economic order" lol what does this even MEAN
also i know it will never sink in with you but it bears repeating anyway: not all laws are good, and no law is good simply by virtue of it being a law.

It almost sounds fascist, just change Better Economic Order to "New Economic Order".

[Valentine Z]

At one point, I won't be surprised if the title becomes "China banned everything. You can only sleep/drink water/eat/work now".

[Diarcesia]

Petition to rename the thread "China bans fun"

[Bear Stearns]

Gonna be honest, cryptocurrencies are dumb and the mining craze is not just harmful for the environment but it literally has no legitimate use and does absolutely nothing for society.

The environmental argument against crypto is pretty disingenous because it's biggest promoters are pulloters themselves.

[Immortan Khan]

China has been targeting cryptos since 2013. This isn't even the largest drop in value witnessed by cryptos. Honestly just getting vibes of people envious other people have made money off of cryptos because they took a risk that paid off.

[Rusozak]

At one point, I won't be surprised if the title becomes "China banned everything. You can only sleep/drink water/eat/work now".

Undistracted drones are productive drones.

[Diahon]

At one point, I won't be surprised if the title becomes "China banned everything. You can only sleep/drink water/eat/work now".

Undistracted drones are productive drones.

you mean "robots"
from the czech

[Pacific Federal State]

Every once in a while China will stumble into a good policy.

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

I can't see how a ban on bartering would ever be enforced and why would your boss want to know what you spend your wages on? Because you earned that money working for the company and what you spend or don't spend it on outside of essentials is none of their business except if its illegal and affects the company and reputation.

[Glassed Reach]

All I'm gonna say about this is (mario, with his eyes purple) this is not okie-dokie, no matter which part of the political aisle you're on.

[Resilient Acceleration]

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about,

Biocomputers as a concept seems to be very promising and I'm quite certain that we as a civilization will eventually get there, and startups surrounding those are starting to appear too. But the when is even more uncertain than quantum computers.

[Resilient Acceleration]

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

I can't see how a ban on bartering would ever be enforced and why would your boss want to know what you spend your wages on? Because you earned that money working for the company and what you spend or don't spend it on outside of essentials is none of their business except if its illegal and affects the company and reputation.

I mean, we generally are moving towards a principle of "the more data, the better". For example, I'd argue that your personal finances can tell a fuckton about your habits and personality, and thus whether you are a better candidate for employee than the competition. (And perhaps to create strategies aimed at outsmarting you at wage raise negotiations).

Still, governments (CCP in this case) instead of corporations obviously will be the ones who benefits the most from centralized digital currencies. From direct access to such an unfathomble amount of data leading to insanely good economic policies, to eliminating corruption and tax avoidance, to forcing people into certain economic habits to achieve a set of national goals, to punish citizens who don't behave by restricting their economic activity or outright deleting all of their life savings in a single snap, to insane levels of economic manipulation.

I don't know how fast the West (or more importantly, my own country) is moving along into this direction. At least in China, there is stability — that is, we know who's will be charge and what will they probably wanna do. Democracies meanwhile have the tendency for Trump-esque figures to seize power from time to time, and this is even worse in developing countries with lots of corruption. Combining that with national monetary omnipotence often ends in a not-so-hot ways.

[Ethel mermania]

While crypto is environmentally devastating and unstable, this is by no means good news. When crypto is banned and cash soon to be abolished, every transaction will be tracked by the state. This is a preview of the West's future.

I hope that a viable crypto alternative to blockchain that doesn't consume ungodly amounts of energy comes about, but in the mean time, I am screaming into the void at people to keep using cash, screaming in vain as the pandemic has accelerated the decline of cash.

Soon visa gift cards will be illegal and finally bartering will be illegal, anonymous transactions won't exist. And then have fun living in a world where the government determines how much you pay for health care based on what kind of groceries you buy and your boss knows what you're spending your wages on.

I can't see how a ban on bartering would ever be enforced and why would your boss want to know what you spend your wages on? Because you earned that money working for the company and what you spend or don't spend it on outside of essentials is none of their business except if its illegal and affects the company and reputation.

The state wants to know, what you buy and where you buy it can be calculated into your social credit score.

Lotta ways for a state to encourage compliance

[Shanghai industrial complex]

I can't see how a ban on bartering would ever be enforced and why would your boss want to know what you spend your wages on? Because you earned that money working for the company and what you spend or don't spend it on outside of essentials is none of their business except if its illegal and affects the company and reputation.

The state wants to know, what you buy and where you buy it can be calculated into your social credit score.

Lotta ways for a state to encourage compliance

If state wants to achieve what you say....First, make sure that everything related to transactions is connected to the Internet and transformed into an Internet model.Second, the extremely huge data processing capacity and stable services ensure the trading behavior of billions of words per second.Third, excellent algorithms to analyze effective information from massive data, and a reliable identification system to prevent someone from maliciously bypassing supervision.So, is China a cyberpunk place with excessive development of computer technology?

[The Alma Mater]

I can't see how a ban on bartering would ever be enforced and why would your boss want to know what you spend your wages on? Because you earned that money working for the company and what you spend or don't spend it on outside of essentials is none of their business except if its illegal and affects the company and reputation.

The state wants to know, what you buy and where you buy it can be calculated into your social credit score.

Lotta ways for a state to encourage compliance

To be fair, companies like google are far more interested in that than the state will ever be.

[Ethel mermania]

The state wants to know, what you buy and where you buy it can be calculated into your social credit score.

Lotta ways for a state to encourage compliance

To be fair, companies like google are far more interested in that than the state will ever be.

In western liberal democracies, I agree. In the prc, I think the states interest dwarfs Google, and that is saying a lot.

[Kerwa]

In western liberal democracies, I agree. In the prc, I think the states interest dwarfs Google, and that is saying a lot.

The upcoming tax bill has a provision that requires financial institutions to report all transactions over $600 to the IRS.

Supposedly this is to stop billionaires from evading taxes and not to track spending.