Re: Bitcoin is de-facto new asset class and Brexit confirmed it
Yes, Bitcoin is a new asset class, like gold, much better than gold.
It is ubcorelated to stick stock, it has predefined upper limit. It can be used. It even can hide from tax. Perfect for small investors.
It is ubcorelated to stick stock, it has predefined upper limit. It can be used. It even can hide from tax. Perfect for small investors.
...and it can be turned off, with one snap of the fingers from the Chinese government.
Cause they want to kill the golden goose
What golden goose are we talking about? China's GDP is over 10 Trillion USD, Bitcoin's total market cap is 10 Billion dollars.
Given:
1. The miners hand over everything they mine to the government
2. The cost of mining (electricity, hardware, employees, etc.) is nothing (zero)
3. Chinese miners mine *all* the blocks (100% of BTC is mined by the Chinese)
4. BTC price is $1,000 per (for simple maths)
Calculate how much Chinese miners contribute to Chinese economy, per year.