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28 sats \ 1 reply \ @OT 4h \ parent \ on: China Court Declares Bitcoin Private Property news
Yeah, buying up strategic ports, property, and building roads are all good things you can do with printed money.
I guess we'll have to see how it plays out. They aren't stupid. Just remember most of the actual Bitcoin is in the hands of early adopters. It's ours to lose. The ETF and current hype is just a passing phrase to hyperbitcoinization.
Remember that forks are always an option. Thinking that Bitcoin is a "relatively harmless speculative commodity" is a bit defeatist IMO.
ETFs and the banker directed narrative they support is what has seen Bitcoin redefined as largely a speculative commodity. Yes its a TRAP.
This is what they want as it renders Bitcoin relatively harmless...and prone to capture and control.
In the Chinese context this would be appropriate as well- as the Chinese place huge importance upon the increase in acceptance of their CBDC eYuan.
Jack Ma was sidelined to emphasise that nobody will challenge the eYuan and its crucial role in the tertiary layer of the Belt and Road model.
At current rates most Bitcoin will be held by US domiciled institutional custodians within 5 years. I do not think that is a good thing BTW!
There is little difference between Blackrock and the CCP.
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