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Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

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Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#51

Post by vkou »

ethbro wrote: post #46
vkou wrote: post #27

Earlier quoted context omitted.

Non-democratic, non-free China's economy has been growing 5 times faster than democratic, free India's. This is despite both countries starting from the same, largely rural, highly impoverished starting point 60 years ago.[1] So, yes, they'd rather be the absolute leaders of a faster growing economy, than the non-leaders of a slower-growing one. [1] China was even worse off, actually, since it spent the first half of…

The assertion was not that China is growing slower than India, but that the current Chinese economy is growing slower than a more liberal Chinese economy.

Then it is a completely unfalsifiable claim, and is, therefore, unprovable.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#52

Post by webpaymentsguy »

mikekchar wrote: post #39
gruez wrote: post #31

Earlier quoted context omitted.

>Of course, conspiracy theorists would say 'of course he would say that'. That comes with the territory when you're a totalitarian state with no rule of law.

These kinds of characterisations frustrate me. It's a horrible simplification that leads one to a whole set of conclusions that are probably way off target. No complex society runs without rules. By and large, if members of the society do not follow those rules then the result is chaos. Clearly, China is not a lawless state where people do whatever they choose and the strongest one wins. It is a country with real law…

When I've heard people question or say there is no rule of law in China, usually it's followed up with how their court system isn't independent of their political system by design, not that it's lawless/a free for all for the CCP.

Not that I disagree with a large chunk of what you said either, but it's just not hyperbole that China has no rule of law per a common definition of the word because of party and worker judicial supremacy.

Rule of law definition: the restriction of the arbitrary exercise of power by subordinating it to well-defined and established laws.

Three Supremes: http://chinamediaproject.org/2010/11/12/three-supremes-%e4%b...

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#53

Post by dleslie »

powowow wrote: post #21
dmix wrote: post #11

Earlier quoted context omitted.

There's a reason all of the big western companies left China. I'd bet money China's economy could be growing 10x faster if it had independent courts and foreign companies who become successful weren't treated like criminals. Just imagine how many of us would be moving to China to start companies and how much more VC money would be flowing in. And all of the global HQs and products and innovation that would be happeni…

meanwhile Sam Altman is writing essays about how China enjoys greater freedom than America. If you think I'm kidding: https://blog.samaltman.com/e-pur-si-muove

Not America, but San Francisco specifically.

It's an article about how he feels stifled by SF culture.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#54

Post by james_s_tayler »

ineedasername wrote: post #43
james_s_tayler wrote: post #37

Earlier quoted context omitted.

Unless you're the despot. In which case they are the best place to live.

Except for the tendency for despots to be violently overthrown (relative to non despotic countries at least)

Good while it lasts though.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#55

Post by Matticus_Rex »

55555 wrote: post #44
Matticus_Rex wrote: post #42

Earlier quoted context omitted.

Literally like 99.9% of all economists who don't work for the Trump administration would disagree with this, and 100% of the ones who study the effects of international trade.

I don't think you are right but if you are then I don't think those economists are right. There is a balance to strike. If your country is behind them protectionism can be powerful.

Let me illustrate:

My consulting company does business in China, and when we do, we (out of self-interest, since we don't speak Chinese and it's hard to do logistics without that) partner with Chinese companies. My company has some of the leading experts in a very niche thing. In the current state, the companies we partner with get to learn from us and gain expertise. The alternative if protectionist policies stop us from doing business in China isn't for those people to become experts on their own -- that's not possible. The alternative is for them either not to gain expertise at all or to have to get it in a more difficult and expensive way.

Protectionism can benefit a fledgling industry (not a whole country) in the short term in a limited set of cases (at the expense of dragging down the rest of the economy), but in most cases the protected industry is going to fall behind even more without the information transfer that comes from business leaders doing business there.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#56

Post by everdev »

paggle wrote: post #48
to1y wrote: post #45

Earlier quoted context omitted.

What does it accomplish except derail and memefy the conversation?

I guess, what can we as ordinary citizens do about the world’s most powerful people, Presidents, princes, CEOs, billionaires, in a giant child rape ring going unpunished? Just shake our fists at the sky? What can we do?

Present evidence in a court of law. I'm sure there are enough detectives, prosecutors and FBI agents eager to make a career out of bringing a case if there's solid evidence.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#58

Post by pcwalton »

james_s_tayler wrote: post #37
blake1 wrote: post #34

Earlier quoted context omitted.

Surely you’re trolling. This is not the place for it because, by any objective measure, despotic regimes are worse places to live.

Unless you're the despot. In which case they are the best place to live.

Would you trade places with Kim Jong-un? I sure wouldn't.

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#59

Post by zaptheimpaler »

wolco wrote: post #33
zaptheimpaler wrote: post #18

Earlier quoted context omitted.

Having a bunch of US companies making profits in China isn't necessarily good for China. If the choice is between, say letting AWS in and building their own. Building their own would put 5000 of their own people to work, the broad technical demographic it will take, and build up all the surrounding industries like servers, networking etc. All the profits stay within China, and they now have more skilled people who ca…

Long term they will fall behind without stealing.

Its so weird how there were no complaints about China for the past decade or two while they were just making your iPhones, but the second they put their own interests ahead of the US all I hear & see is about how crooked & corrupt they are...

Re: Bitmain Rival’s Founder Arrested as War of Crypto Miners Heats up

#60

Post by paggle »

everdev wrote: post #56
paggle wrote: post #48

Earlier quoted context omitted.

I guess, what can we as ordinary citizens do about the world’s most powerful people, Presidents, princes, CEOs, billionaires, in a giant child rape ring going unpunished? Just shake our fists at the sky? What can we do?

Present evidence in a court of law. I'm sure there are enough detectives, prosecutors and FBI agents eager to make a career out of bringing a case if there's solid evidence.

Yes, that evidence conveniently “suicided”...
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