Is China Gaming Bitcoin?
A lot of viewers have asked us to talk about Bitcoin. It's the one currency that's hardest to manipulate, and the CCP has figured it out anyway.
Comments (3)
BitCoin itself is probably not going to take over the world. Self-issued credit using crypto-currencies, however, is in my book very tantalizing; -- <a href="https://www.youtube.com/watch?v=eAZAmQXvB7I" rel="nofollow noopener" target="_blank">https://www.youtube.com/watch?v=eAZAmQXvB7I</a>
Something that you didn't mention is that anyone with sufficient computer resources can effectively make a cryptocurrency a fiat currency as that huge source of computer processing power can effectively overturn any other computer's attempts at validating or falsifying a mined bitcoin or bitcoin transaction. This is the biggest reason why China would want to subsidize and encourage bitcoin mining in China. They would want to build the infrastructure to overpower any other source of bitcoin confirmation and simply dictate things from that point. The US can also do this but they would have to repurpose the existing systems to bitcoin while china is building a seperate system for the purpose.
Great point!