Re: China is preparing to wind down blockchain-related mining

https://www.163.com/dy/article/G4BMAUMI0511A641.html

https://finance.sina.com.cn/roll/2021-03-13/doc-ikknscsi2912248.shtml

Bitcoin computing power is about to fall dramatically

However, this should not be construed as a fight against bitcoin. The Chinese authorities are too pragmatic. They do not like the fact that too much cheap electricity is consumed from their hydroelectric power plants, and some miners even manage not to pay for it at all. The Chinese government is simply putting things in order in this area of business and trying to stop the revealed abuses. If it was a fight against bitcoin, it would be complex and we would clearly see that these measures are directed against bitcoins.

Its purposely being represented that its a fight against Bitcoin my the media. However China seems to have more plans for the kind of distraction to them.

It would appear that they are trying to make it look like they are setting example for greener energy. As China’s Solar Industry Is Set Up To Be The New Green OPEC

It’s called the China F
UD, and it has been used by the nocoiners with an anti-Bitcoin agenda for YEARS. Zoom out the chart from 2012, and mark all the points/dates from when all the China FUD was posted. Nothing “killed” Bitcoin from $100 to $50,000. Honey Badger don’t care.

2013 China FUD/Crackdown https://www.bbc.com/news/technology-25233224

2014 China FUD/Crackdown https://www.coindesk.com/bitcoin-price-declines-following-false-report-chinas-bitcoin-ban

2017 China FUD/Crackdown https://www.reuters.com/article/instant-article/idINKCN1BJ1US

2017 China FUD/Crackdown https://www.lawfareblog.com/understanding-chinas-crackdown-bitcoin-and-icos

2018 China FUD/Crackdown https://www.scmp.com/news/china/economy/article/2132119/beijing-bans-bitcoin-when-did-it-all-go-wrong-cryptocurrencies

2019 China FUD/Crackdown https://cointelegraph.com/news/chinas-crackdown-on-cryptocurrency-trading-a-2019-recap

2020 China FUD/Crackdown https://www.coindesk.com/china-exchanges-crackdown-binance-huobi-okex

2021 China FUD/Crackdown https://forkast.news/inner-mongolia-shut-down-crypto-mining-china-bitcoin-miners/

So it goes, the effort to 'regulate' the 'decentralized' blockchain that is Bitcoin. IF by some 'miracle' BTC is ever 'regulated' into submission by the use

of power/law/gov't crackdown/or whatever. That will be my 'clue' to become like the young people and become a 'minimalist'. I'd sell everything and

travel..because once ANY decentralized blockchain BTC/Crypto can be un-de-centralized through the use of 'regulation' and power by the wealthy

banking/traditional wealth/gov't etc...well, all hope is lost. IMHO, we would be looking at 'serfdom' in 100 years. Can you 'imagine' if Satoshi had

patented Bitcoin and made it a 'centralized banking coin'! I mean you can move 1 Billion dollars for like $2.80 I think I read, imagine the money you

could make in banking, where ..hell...most? of their money is made in fees of one sort or another. I'm pretty sure they'd still keep the $40k or whatever

it would take to move $1 Billion dollars and just pocket the change. We'd have Trillionaires in 10 - 15 years...with so much concentration in wealth every

frigging country in the world would be an Oligarchy and a Banana Republic, so power concentrates..unless something grassroots pushes against such.

Sh*t, just went and scared myself! Sad

The 'struggle' will continue well into the next 2 decades on this push/pull of decentralized wealth (BTC/Crypto) and centralized traditional wealth and power.

Brad