There is the usual silliness you find in most pro-crypto writers and promoters. This one for example
“If Bitcoin’s trends and development continue at its current rate, the logical conclusion is that it will become the most powerful financial system the world has ever known”
Bitcoin is NOT a financial system, just as the U.S. dollar is not a financial system. It is, at best, pseudo-currency. Pseudo in the sense that a currency can actually be valued objectively whereas only price movements tell you anything about the value of Bitcoin. And that is the definition of telling nothing: Past performance is not a guarantee of future performance. Most of all since the performance is purely self-referencing.
But the bigger problem in this article, as with so many in the space, is that it pre-supposes that no governance is good. And good governance means bad control. There is no distinction. The right crypto is absolute and pure.
In a western liberal democratic country (“WLC”) people vote to determine how their society functions. China allowing Bitcoin to freely flourish and attempt the paradox of regulation is unthinkable. The entire proposition of crypto is to have no governance and ultimately replace the local fiat. Good, bad, other. That means, it cannot be anything but anathema also to a WLS. But that in no way implies crypto has any advantage in autocratic, kleptocratic, corrupt, or totalitarian society, as is so often put forward in places like Venezuela. All it does for these countries is permit the elites to monopolize its use and escape even any responsibility of governance.
Why did China do this? Because the original move was intended to a) capitalize on a monopoly of mining and b) achieve a monopoly on ASICS, rigs and mining operations. You know, the same way that they have acquired a near control of western economies by undercutting prices of western manufacturers, purchasing western companies, forcing technology transfers in exchange for operating in China and by stealing through various means western technology and key assets.
China plays a long game in all this. See Hong Kong and now Taiwan.
And one thing they were very intent on seeing spread in western liberal democracies most of all (and elsewhere) is the mechanism to undermine the western financial infrastructure: World Bank, IMF, WTC, SWIFT, OECD by undermining the power of the dollar and weakening the rise of the Euro.
Decentralization will never do anything but benefit non-democratically run countries and entrench the corrupt governments and elites. And it will even have a role in preventing countries to move to western liberal democratic norms or to retain them by undermining control of their economies.
There is nothing good in crypto or decentralization except for growing the number of countries that escape ethical norms that appear only in the western liberal democratic forms of government: human rights, the right to free and fair elections, a responsible free press, etc.
Crypto and “decentralization” are a cancer on this.
Who opposes technology anyway? I don't understand. China is actually a country that cares about technology and makes money from it. I wonder what's behind the curtain?
I see this situation as a football match between America and China, they are constantly trying to beat each other, they bring various manipulations, laws, ECT. When America welcomes it, China welcomes it negatively and vice versa. And We try to get out of these situations unscathed.
China is smart. They are not going to let their own people evade taxes. Also, if you can sell all the risk in a position and secure only the certain upside, that's the best trade/investment you can ever make.
Nearly 100% of the PoW ASIC and rig design and production are in Chinese hands. These are real products being sold and real companies making real money selling them, employing people, and using the proceeds to reinvest in gaining advantages in IC design and manufacture which will spill over to other/new markets that they either are in and enhance their revenue opportunities.
In other words, they are not suckers buying into a belief system. They are real business people looking to maximize return and minimize risk. As in, the real world.
I'm glad that China is getting banned from all of these services that offer bitcoin and cryptocurrencys. It's nice to see Bitcoin actually climbing and doing good.. China not being able to spread fud and drive the price down is awesome. Weather they were doing it to buy the dip or whatever is just not good.
China is smart. They are not going to let their own people evade taxes. Also, if you can sell all the risk in a position and secure only the certain upside, that's the best trade/investment you can ever make.
Nearly 100% of the PoW ASIC and rig design and production are in Chinese hands. These are real products being sold and real companies making real money selling them, employing people, and using the proceeds to reinvest in gaining advantages in IC design and manufacture which will spill over to other/new markets that they either are in and enhance their revenue opportunities.
In other words, they are not suckers buying into a belief system. They are real business people looking to maximize return and minimize risk. As in, the real world.
China is trying something. And I think no one but the administration can predict this.
The movements performed can be completely random. Or everything is planned. Those who decry technology will disappear.
Why are they doing this on purpose.
They will never say it without smooth
There is the usual silliness you find in most pro-crypto writers and promoters. This one for example
“If Bitcoin’s trends and development continue at its current rate, the logical conclusion is that it will become the most powerful financial system the world has ever known”
Bitcoin is NOT a financial system, just as the U.S. dollar is not a financial system. It is, at best, pseudo-currency. Pseudo in the sense that a currency can actually be valued objectively whereas only price movements tell you anything about the value of Bitcoin. And that is the definition of telling nothing: Past performance is not a guarantee of future performance. Most of all since the performance is purely self-referencing.
But the bigger problem in this article, as with so many in the space, is that it pre-supposes that no governance is good. And good governance means bad control. There is no distinction. The right crypto is absolute and pure.
In a western liberal democratic country (“WLC”) people vote to determine how their society functions. China allowing Bitcoin to freely flourish and attempt the paradox of regulation is unthinkable. The entire proposition of crypto is to have no governance and ultimately replace the local fiat. Good, bad, other. That means, it cannot be anything but anathema also to a WLS. But that in no way implies crypto has any advantage in autocratic, kleptocratic, corrupt, or totalitarian society, as is so often put forward in places like Venezuela. All it does for these countries is permit the elites to monopolize its use and escape even any responsibility of governance.
Why did China do this? Because the original move was intended to a) capitalize on a monopoly of mining and b) achieve a monopoly on ASICS, rigs and mining operations. You know, the same way that they have acquired a near control of western economies by undercutting prices of western manufacturers, purchasing western companies, forcing technology transfers in exchange for operating in China and by stealing through various means western technology and key assets.
China plays a long game in all this. See Hong Kong and now Taiwan.
And one thing they were very intent on seeing spread in western liberal democracies most of all (and elsewhere) is the mechanism to undermine the western financial infrastructure: World Bank, IMF, WTC, SWIFT, OECD by undermining the power of the dollar and weakening the rise of the Euro.
Decentralization will never do anything but benefit non-democratically run countries and entrench the corrupt governments and elites. And it will even have a role in preventing countries to move to western liberal democratic norms or to retain them by undermining control of their economies.
There is nothing good in crypto or decentralization except for growing the number of countries that escape ethical norms that appear only in the western liberal democratic forms of government: human rights, the right to free and fair elections, a responsible free press, etc.
Crypto and “decentralization” are a cancer on this.
Who opposes technology anyway? I don't understand. China is actually a country that cares about technology and makes money from it. I wonder what's behind the curtain?
I see this situation as a football match between America and China, they are constantly trying to beat each other, they bring various manipulations, laws, ECT. When America welcomes it, China welcomes it negatively and vice versa. And We try to get out of these situations unscathed.
There's someone running China or the Chinese government is crazy.
It is true that it is a country of prohibitions, but it is both funny and thought-provoking that it makes such ridiculous decisions.
I think these were done on purpose and have their fingers in other countries.
Otherwise, these decisions will add a big minus instead of a plus to the country and will cause them to fall behind in time.
China is smart. They are not going to let their own people evade taxes. Also, if you can sell all the risk in a position and secure only the certain upside, that's the best trade/investment you can ever make.
Nearly 100% of the PoW ASIC and rig design and production are in Chinese hands. These are real products being sold and real companies making real money selling them, employing people, and using the proceeds to reinvest in gaining advantages in IC design and manufacture which will spill over to other/new markets that they either are in and enhance their revenue opportunities.
In other words, they are not suckers buying into a belief system. They are real business people looking to maximize return and minimize risk. As in, the real world.
Now there is a virtual world. And China has risked getting a big kick out of it. What will he do if he get kick?
I'm glad that China is getting banned from all of these services that offer bitcoin and cryptocurrencys. It's nice to see Bitcoin actually climbing and doing good.. China not being able to spread fud and drive the price down is awesome. Weather they were doing it to buy the dip or whatever is just not good.
I bought the dip, and I will hodl all of it.
China is NGMI. They'll eventually have to backtrack and get back in the bitcoin game from a disadvantageous position.
China is smart. They are not going to let their own people evade taxes. Also, if you can sell all the risk in a position and secure only the certain upside, that's the best trade/investment you can ever make.
Nearly 100% of the PoW ASIC and rig design and production are in Chinese hands. These are real products being sold and real companies making real money selling them, employing people, and using the proceeds to reinvest in gaining advantages in IC design and manufacture which will spill over to other/new markets that they either are in and enhance their revenue opportunities.
In other words, they are not suckers buying into a belief system. They are real business people looking to maximize return and minimize risk. As in, the real world.