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2 sats \ 3 replies \ @Undisciplined 3h \ on: China central bank vows crackdown on virtual currency, flags stablecoin concerns econ
Chinese friends of mine have told me that the government doesn't really care that some people get around the various technology bans as long as most are afraid to try.
Those some people are often parts of the CCP apparatus. The government would turn a blind eye initially but will use this if there is a purge necessary.
Regardless, a good thing as Chinese capital control prevents their own people from acquiring bitcoins and keeps them perpetually behind.
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China is beating the west in most areas of economic and technological development.
It is naive to assert that the Chinese mixed model economy is inferior to the wests crony capital model where governments have become subservient to wealthy corporate banking lobbies.
Australia’s Strategic Policy Institute, a think tank, believes China has overtaken America in cutting-edge research in 57 out of 64 technology areas it tracks.
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Just as most western governments and the fiat bankers who direct them don't care if a few people use Bitcoin for MoE as long as most don't.
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