Binance, NEO and ICO scams China and Korea cryptocurrency crackdown operation underway.
There is clear evidence that the cryptocurrency market in China is on the way out and that the government plants to shut down illegal mining operations and exchanges, this operation has sent owners and developers on the run to neighboring countries like Korea and Singapore. On the run with your cash!
Let’s not kid ourselves when cryptocurrencies come up against governments we stand no chance, especially in the above countries, as we know governments work together, you can run but you can’t Hide.
The power is always on the Government’s side.
Whatever you have at your disposal the government has unlimited supplies, whatever that is, be it lawyers, vehicles, computer power, guns or just people.
Run run Johnny, there is nowhere to hide, eventually you will mess up, imagine living your life constantly looking over your shoulder in a state of complete paranoia just for a second.
Now, look at the Binance exchange CEO saying he thinks he is safe in Korea but the majority of other cryptocurrency exchanges may not think he’s safe, so what makes Binance so special?
Just watch the video below and think about the risk you’re submitting yourself to as your money is in someone else’s pocket running from the Chinese government. How do you sleep at night?
Binance CEO Says Bitcoin Mining May Move to Cheaper Places and how about Binance where you moving to…
With the crackdown under way surely Binance will be the main target for the operations?
It’s understandable that people are looking for the next Bitcoin, but as the old saying goes you shouldn’t join at the beginning and you shouldn’t join at the end, you should join in the middle. People should just stick to what they already know to be working, such as the top 10 cryptocurrencies and exchanges, such as Poloniex, Bitrex, Bitfinex etc
And remember, 99.99 per cent of all ICOs are scams and are only designed to get your money, don’t be a bag holder, stick to what works.
Bitcoin scam alert: ICO fraud warning.
Antshares, the China-based open-source Blockchain platform, is trying to position itself as the country’s version of one of the known digital cryptocurrency platforms, Ethereum. As part of its rebranding, the platform will be renamed as NEO by the end of 2017.
Rebranding to NEO
Antshares/NEO has already gained a foothold in the country. Its own currency called ANS is already used in the majority of stock exchanges across China. Just like Ethereum, owners of the ANS tokens can use them to pay for transaction gas.
Meanwhile, the team behind the Antshares project is collaborating with Chinese certificate authorities in mapping a real-world asset utilizing Antshares’ smart contract technology called Smart Contracts 2.0.
The project has also signed up several new startup companies as partners, with plans to add other partners as the project progresses.
Moreover, the Antshares team has patented a cross-chain interoperability, which is expected to benefit the project in the long term.
ANS vs. ETH
There are several differences between Ethereum and Antshares, particularly in the technology by which they are built, and more specifically, their programming language.
Antshares is compatible with all coding languages, while Ethereum only works with Solidity. Antshares’ compatibility with all languages is expected to generate a bigger following of users.
Among the similarities of Ethereum and Antshares is their ability to combine gas or fees, smart contracts and possibly even DApps.
It is, however, still too early to tell whether Antshares can eventually successfully become the Ethereum of China and dominate the Chinese market.
Market cap at $250 mln
Antshares is a subsidiary of Onchain, which is among the well-respected brands in China. The project has already obtained millions of dollars in funding, with its market capitalization already totaling more than $250 mln. With this amount of money, Antshares already has the capability to advance its technology for years to come. It is, however, interesting to see if this will successfully make it China’s Ethereum. It Never Happened