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comment by kleinbl00
kleinbl00  ·  3245 days ago  ·  link  ·    ·  parent  ·  post: The resolution of the Bitcoin experiment

(A) the Chinese

(B) Because BTC serves the same hedging purposes as precious metals, only with greater marginal utility

(C) Ockham's Razor suggests that "a bunch of disgruntled coders" are most easily found in Shanghai and that a command economy with a free market in trouble might very well provide "a lot of incentive to sabotage".

Let's be honest. If someone accused Goldman Sachs of currency manipulation, the world would say "duh." Goldman Sachs, for their part, allege that 80% of BTC transactions are driven by Yuan.

Funny thing happened in the '90s in Vancouver. All the well-to-do of Hong Kong hopped a plane to Vancouver, bought a house to establish citizenship, set it up with a trust to manage it and jumped back on the plane. It was hell on the Vancouver real estate market - everything got crazy expensive - but it gave all these Hong Kong nationals an escape route incase the handover to China got dicey.

China is currently facing a big decision: are they a command economy or a market economy? 'cuz right now they're kind of both and they're at the point of instability where pushing too much in one direction knocks over the tower. It's not like their economy runs on BTC, but it's also fair to say that in a currency designed for black markets, the biggest black market is likely to be interested in maintaining their control.