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I dont know about Bitmain building (mining?) in the US but guess it was after China banned mining there and so they moved mining hardware to US? Regarding Jack Ma- the CCP has invested a lot in building their CBDC and other protocols which can enable trade payments outside of the USD/SWIFT system. Jack Mas alipay was seen as a threat to the CCPs preferred CBDC Yuan A major example is mBridge a system for digital trade payments which was initially under the BIS but last year BIS distanced themselves from it as it had reached a point of development where it had the potential to threaten the USD/SWIFT hegemony that BIS id part of. The original initiators of mBridge were China, Thailand, the UAE and Hong Kong. Since then many more have joined and currently many of them including the Saudis are readying digital currencies capable of being used in the mBridge protocol. A natrion need to adopt a CBDC within its domestic economy to enable trade payments via mBridge- it just needs a digital token equivalent to its domestic currency with which to participate- this is what many mBridge members are now readying. Parallel to this is Trumps response with is USD Stablecoins. There is definitely a contest to develop the digital trade payments successor to SWIFT and its primarily between USA and China.
The only story I know about China mining in the US was in Wyoming a Chinese owned farm was raising concerns because it was next to an Air Force base.
There is definitely a race to develop a digital payment system, and I know that the US is on a path to a stablecoin for their system. I have not looked into what has been going on in China with their payments system, but I realize now that I probably should have.
I agree with you that China should consider Bitcoin as a neutral settlement system. I think every country should consider it.
China have mBridge, CIPS and numerous shadow banking channels. Regaining control of Hong Kong really opened up the possibilities- Hong Kong being the portal via which Britain originally gained trade payments access to Chinese markets back in The Opium Wars era and since. China understands the importance of banking channels and how they run parallel to military structures. China is building both determined not to be subject to US sanctions and leverage. If they adopted Bitcoin it would be a lot easier for other nations to accept that China is not building its own monetary hegemony to replace that of the US.
There is definitely a contest to develop the digital trade payments successor to SWIFT and its primarily between USA and China.
So far Strategy is winning.
Yawn.
Yeah keep yawning. It's only a 3x lead.
Firstly, you are by far the most informed person on this subject I have spoke to, so thank you.
I didn't know P2P payments were legally banned, I just figured no one used them because of the influence of the PBC. But I will have to look into that Jack Ma story, never heard of this.
It just seems as if the US and China, maybe Russia too, are just waiting for the other to make a first move. Not sure, maybe I just have more reading to do.
But the energy generation story is almost unbelievable. It is so bad that Trump had to manually inject fusion into the narrative. Definitely something to keep an eye on as time goes on.
I am curious what you think about Bitmain building in the US. How did they make it profitable to build here?