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71 sats \ 1 reply \ @spiderman 2h \ parent \ on: China central bank vows crackdown on virtual currency, flags stablecoin concerns econ
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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10 sats \ 0 replies \ @Solomonsatoshi 1h
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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