Bitcoin Could Be Chinese ‘Weapon’ - page 3.

Kakmakr

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You know there are a lot of conspiracy theories going around about China and how they are going to use Bitcoin to sabotage the global economy, but most of those are just sensationalism and the mainstream media, trying to sabotage the Bitcoin experiment.

Let's not forget that the "Fiat" masters have a lot invested in the "Fiat" system and traditional investment options... and they own most of the mainstream media. So they will use whatever weapons they have to spread rumors and misinformation and fear.

Why would China (World's largest Bitcoin Farm) ..sabotage a cash cow? (Mining is also very decentralized, so China is not a monopoly, when it comes to Bitcoin mining) Roll Eyes

Charles-Tim

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Quote from: YanBitMoney on April 08, 2021, 02:13:18 AM

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Peter Thiel was not talking about how bitcoin will be a financial weapon for China to be used against the world, he was talking about how it could be a “Chinese financial weapon” used to dethrone the USD’s monetary status. And I do not see this valid according to what I read from the news, valid reasons should be given along side. He did not even comment about Chinese CBDC (digital yuan) which some people have being commenting about.

Anyone implying China will control bitcoin are just thinking they know what they are saying, but China can not control bitcoin, even as China mine 65% of newly mined bitcoin, the mined bitcoin is well distributed throughout the world, not congested in China. Also, some countries are becoming more friendly with bitcoin mining, making percentages of miners in China compared to the world to be reducing

Cryptonesia62

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Quote from: YanBitMoney on April 08, 2021, 02:13:18 AM

Just this morning I read the headline from Yahoo Finance call Bitcoin Could Be Chinese ‘Weapon’.
https://finance.yahoo.com/news/paypal-co-founder-bitcoin-investor-215101452.html

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Yan - SnapBots.

I can't imagine how that would happen, if the meaning of "weapon" was "to control the market", maybe at least Chinese should have more than 50% of BTC cir supply.

YanBitMoney

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Quote from: Lorence.xD on April 08, 2021, 02:28:32 AM

Bitcoin can be anything though and if China plans to attack using bitcoin then I don't think that as an individual investor have to worry about it and if the attack was to happen it will not happen anytime soon.

Yeah I think so. But anyway, once bitcoin becomes a national reserve asset like gold, diamonds, dollars ... it can help bitcoin and even the decentralized economy have a particularly important position.

Lorence.xD

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Bitcoin can be anything though and if China plans to attack using bitcoin then I don't think that as an individual investor have to worry about it and if the attack was to happen it will not happen anytime soon.

YanBitMoney

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Activity: 36

Merit: 1

Just this morning I read the headline from Yahoo Finance call Bitcoin Could Be Chinese ‘Weapon’.
https://finance.yahoo.com/news/paypal-co-founder-bitcoin-investor-215101452.html

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Yan - SnapBots.

Topic: Bitcoin Could Be Chinese ‘Weapon’ - page 3. (Read 397 times)