Then they would have purposefully destroyed their golden goose.
It is not profitable to do that in any way, accept to kill Bitcoin for the Chinese government.
What your arguing is like saying they have nuclear warheads and they can use it.
So what? If they use it the whole world would be destroyed, so let them double spend then.
Let them watch their investments go up in flames.
It is not profitable to do that in any way, accept to kill Bitcoin for the Chinese government.
What your arguing is like saying they have nuclear warheads and they can use it.
So what? If they use it the whole world would be destroyed, so let them double spend then.
Let them watch their investments go up in flames.
LOL,
If BTC became the world's currency , then China Controls it.
Meaning they don't have to destroy it, but can use the threat to get their way in matters more important to them.
Because they can destroy it for everyone else but keep it working for China only.
Bitcoin can never be the "world's currency" if it is controlled by a Communistic Dictatorship.
Either it doesn't become the "world's currency" or Communist China collapses.
Each choice is very unlikely right now.
If China likes the concepts behind Bitcoin so much, they will use their own version, before Bitcoin.
Since you mentioned Nuclear
Modified for China & BTC
China could Destroy all foreign use of BTC through the promise of blocked transactions using 51% attack,
therefore no other country may argue with any of their Political Stances for fear of this retaliation.
Diabolical aren't they.
Quote
Deterrence theory holds that nuclear weapons are intended to deter other states from attacking with their nuclear weapons, through the promise of retaliation and possibly mutually assured destruction (MAD).
Modified for China & BTC
China could Destroy all foreign use of BTC through the promise of blocked transactions using 51% attack,
therefore no other country may argue with any of their Political Stances for fear of this retaliation.
Diabolical aren't they.
Quote
The supreme art of war is to subdue the enemy without fighting.
Sun Tzu, The Art of War
Sun Tzu, The Art of War
Mutually Assured Destruction assumes both sides has about equal destructive ability.
As for hashing power, it is clearly in the favor of China.
If China destroyed all foreign use of BTC though power plays or etc, they would be
making BTC as worthless even to themselves.
If this was their plan, it would have been smarter to wait till it became the
"world's currency" before playing power games. "It's the slow knife...".