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And China is one of the largest economies in the world, with well over a billion people making a living in it. The profit from shorting it would not even a bug
by ericd 9y ago
And China is one of the largest economies in the world, with well over a billion people making a living in it. The profit from shorting it would not even a bug splatter on the windshield of their economy. The evasion of capital controls is a much, much larger concern for them.
- mahranch 9y agoAnd it should be a larger concern for bitcoin proponents, too. Imagine if China decided to wage a covert war on bitcoin. I mean, is it really so hard to believe that China wouldn't like bitcoin because it literally (not figuratively) runs antithesis to their own fiscal policies? And how would they run a covert war against it? An open war or public attack would immediately raise the defenses of everyone involved, from miners to developers, to bitcoin holders. But what if they played nice while all the while poisoning the well or setting the stage to gain trust. They could do this through third party companies (cough bitmain cough) which could cause damage to bitcoin by delaying vital upgrades and sowing the seeds of uncertainty and doubt.