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For China specifically, the reason to hate crypto currency is because it's a system where they don't have control. It's the same reason they are cracking down
by enkid 5y ago
For China specifically, the reason to hate crypto currency is because it's a system where they don't have control. It's the same reason they are cracking down on the tech sector and Hong Kong. The CCP does not like having competitors for power or even something they don't have control over.
- GDC7 5y ago> The CCP does not like having competitors for power or even something they don't have control over. The CCP is a bunch of unambitious individuals. Everything that causes troubles to the CCP means troubles for Xi and the possibility that his "president for life" title might be revoked, creating room for somebody else to ascend. From a game theory standpoint it is better to be at the helm of a slightly less relevant organization than being a subordinate of an organization plowing ahead at full steam unrivaled. This is even more true in politics and NGOs where the monetary compensation is very limited and it's all about the status.
- barrenko 5y agoChina is performing a sort of seppuku, will be interesting to watch.