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China bans your crypto as illegal, while preparing their own national crypto chain(s). Sweden too right? US Fed in the mix with their own plans. "big thieves hate little thieves"
China, nor the USA nor Sweden is creating a cryptocurrency. How is such nonsense on the top? No wonder misinformation is running amok.
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China, nor the USA nor Sweden is creating a cryptocurrency. How is such nonsense on the top? No wonder misinformation is running amok.
They’re likely referring to the digital yuan project which is very real and is already being tested in certain parts of china.
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You are alluding to PoS i assume. I never really understood that argument. How is wealth getting concentrated when the relative distribution of coins stays exactly the same?
Because that relative distribution that is unchanged by staking is concentrated to begin with.
Excellent news for the climate.
How is this actually enforceable? Anyone with internet and power can mine. Could they firewall the entire bootstrap IP list for Bitcoin mining?
China bans your crypto as illegal, while preparing their own national crypto chain(s). Sweden too right? US Fed in the mix with their own plans. "big thieves hate little thieves"
China, nor the USA nor Sweden is creating a cryptocurrency. How is such nonsense on the top? No wonder misinformation is running amok.
Earlier quoted context omitted.
It's a way to move capital out of the country. Bad. China is trying to prop up domestic stocks and investment. Crypto blunts that effort. Moreover, following or reclaiming the money is difficult, slow, and sometimes impossible. Very bad. Crypto is probably something that the NSA can headshot and easily kill your cottage industry. Also bad, but to a much lesser degree than the capital flight.
Pollution is also a huge problem in China. While China would like to still keep its electricity cheap, especially in the hinterland where people can’t really afford higher prices (and otherwise would resort to direct coal use for heating), crypto miners taking advantage of the cheap rates in a way that government didn’t intend.
What has been announced now (by the Chinese central bank and a bunch of regulators) is that all crypto related transactions will be banned.
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That's true for all types of investors
No, why? I have investments in a couple of private startups. I definitely care who other investors are, and I don't want them to take money from bad guys.