Well its not that easy for China to retaliate against USA for increasing the tariffs by filtering transactions and disallow US bitcoin transactions. First, since you cannot determine who and where the owner of the btc address. Second, if they want really to retaliate and if filtered or selective mining for transactions is possible they will eventually mine even if it is coming from the USA, why because USA is large and it means big income. So if they earn big in bitcoin soon they will replace USA at the top of the economy.
With the recent price surge, it suddenly struck me that it might be the Chinese way of retaliating on the US in general and the US dollar specifically. That is, to raise the price of Bitcoin (which, as we know, they have full control of, both in terms of mining and wealth) to the sky. Really, they have a lot of bitcoins and they also have trillions of US dollars in the form of bonds (US treasuries), so they have all the tools to make Bitcoin price as high as they see fit, given that most people look at the price of Bitcoin denominated in the dollar
If I'm right, we shall soon see insane prices without being coupled with any substantial corrections
It has been so for at least two years already
I think I can safely assume that many people would disagree with that claim, but if they (I mean the Chinese) control Bitcoin in such a way that it rises 50 dollars every month on average without devastating plunges, many other people would happily agree to this type of control. Let's face the facts, the majority of people are here for profits, and Bitcoin is no more than a speculative vehicle for them. They don't particularly care about who controls Bitcoin as long as they are well off with their Bitcoin investments
I think I can safely assume that many people would disagree with that claim, but if they (I mean the Chinese) control Bitcoin in such a way that it rises 50 dollars every month on average without devastating plunges, many other people would happily agree to this type of control. Let's face the facts, the majority of people are here for profits, and Bitcoin is no more than a speculative vehicle for them. They don't particularly care about who controls Bitcoin as long as they are well off with their Bitcoin investments
Not only are you right but you are even underestimating the number of people. I believe it's not just a simple majority but almost all people are using Bitcoin simply for profit. I have run across very few people that are using Bitcoin for ideological reasons and I have attended dozens of conferences and meetups.
Well, I was just giving folks the benefit of doubt
