With the latest news on China banning ICOs, my itch to better understand cryptocurrencies became unscratchable... again... But for now I'm satisfied with the conclusion this itch led me to... People say cryptocurrency is just one of many bubbles like we had in the past which will burst right in our pretty faces... But I really think we can not apply this fearful bubble mentality on this subject.... Just because China's silly government is imposing yet another form of (imo) censorship on it's citizens by banning ICOs, it doen't mean they are right in their conclusions of ICOs being illicit and whatnot.

This is not China's first attempt to deter it's people from using these electronic currencies. And like the last attempt the value of most crypto's dropped after this news came out. The only reason a country like China makes these decisions (imo) is to control the damage these currencies are inflicting on its socialistic communistic way of ruling the country.

Seeing their last attempt to do so failed miserably (BTC dropped in value for a bit, only to recover, and then some, to the heights we've seen in the past weeks, and the birth of the 'chinese' crypto NEO) I really start to think the currencies are burst-proof! Why? Because for starters cryptocurrencies are not printed by let's say a Federal Reserve which charges an interest rate over every printed dollar. Thus creating an endless cycle of debt... It is not surprising that after many bubbles bursting, stock markets crashing we become skeptical on matters like this.

Yes prices can fluctuate (sometimes violently) in the cryptocurrency market. But we must not forget that the biggest flaw (or for some people a convenient enslavement tool) our 'good old' printed money has, creating a perpetual debt, is non existent in cryptocurrencies. In other words.... If we ever want to rid ourselves of this debt prison the world is in, with literally every government in the world being indebted by banks, we have to change something. The powers that be will do their best to keep consolidating their power like China is desperately trying.

But as long as the people use their rational minds, and start to accept that reform of the current monetary system is long overdue, and finally within our reach thanks to cryptocurrencies, I predict the value of Bitcoins and many others reach astronomical heights. And with this thought/idea/reality of a little more perfect world/better future I know I will sleep like a baby tonight. And I wish the same to you!

Good noon Steemit friends and others who cared to read!

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