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Domov Reddit China is anti-Crypto because they can't Censor or Control it, Pushing Digital...

China is anti-Crypto because they can’t Censor or Control it, Pushing Digital Yuan instead with built in Surveillance and Censorship Features

level 1

I mean…obviously.

But also, they’ll secretly hoard bitcoin.

level 2

1 – 2 years account age. 100 – 200 comment karma.

1 hour ago · edited 1 hour ago

Of course, there is a reason the joke exists that communist China are the best at capitalism in the world.

level 2

But also, they’ll secretly hoard bitcoin

It is exactly this phenomenon which is completely underlooked by analysts and the community alike, and deserves way more attention as well as research

level 2

And they will try to control it through centralisation and manipulation of hashrate, etc!

level 2

Do what I say, not what I do.

level 2

Yep exactly. And once the market comes back up they will reap all the benefits.

level 2

5 – 6 years account age. 300 – 600 comment karma.

1 hour ago

Would China be able to hoard do much bitcoin that there isn’t enough bitcoin in circulation anymore to function as a currency?

level 2

They are buying the dip! They have done this SEVEN times since 2013! Fool me once…

level 2

Then we will let them have Bitcoin and use a different one, there are much better ones anyway

level 1

of course, it was expected… let’s see what happends next..

level 2

Coming to your very free country, that’s what happens next.

Do you really believe governments around the world will allow a decentralized currency to threaten their powers and control? Ever wondered why you can’t pay with monopoly money in US?

level 2

”Bold move, Cotton. Let’s see if pays off.”

level 2

I mean digital surveillance and control is pretty sexy over there, and it’s all CBDCs are about

level 1

BREAKING EXCLUSIVE: Water Is Wet

level 2

Comment removed by moderator2 hours agoMore than 1 child

level 2

It is only breaking as long as it’s used for hydropower to mine crypto by the commies

level 1

Good luck with that shitcoin lol

level 1

Why would I ever trust a state run cryptocurrency to be a free form of trade? Any state.

level 2

Same why you use Fiat? Or same why Chinese people are using WeChat Pay for everything?

It’s convenient, potentially legally required, and most people dgaf about privacy

level 1

Have you ever been in China? Do you know that visa and MasterCard is not accepted except some hotels and you need to use their one local cash app to buy anything? So no surprise here.

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