prc30 on Nostr: China Morning Missive The world’s worst kept secret, at least here in China. For ...
China Morning Missive
The world’s worst kept secret, at least here in China. For all the moves made to keep Bitcoin out of the closed capital system, it has remained steadfast. P2P interlocuters have remained over the years regardless of what policy is put out from Beijing.
Granted, there has also been the more nefarious play of “capital flight” with agents using the likes of Tether to assist with moving capital offshore. For Beijing, this is by far the more heinous act and looks to be now coming back into the cross hairs.
I can attest personally to there being a hodgepodge of individuals seeing a market and the ability to profit off the “spread”. If there’s money to be made, you can be certain that a Chinese will be there to make that market.
There could be yet another “China bans crypto” headline in the future. Then again, it wouldn’t be a four year cycle without a “China ban” headline.
The world’s worst kept secret, at least here in China. For all the moves made to keep Bitcoin out of the closed capital system, it has remained steadfast. P2P interlocuters have remained over the years regardless of what policy is put out from Beijing.
Granted, there has also been the more nefarious play of “capital flight” with agents using the likes of Tether to assist with moving capital offshore. For Beijing, this is by far the more heinous act and looks to be now coming back into the cross hairs.
I can attest personally to there being a hodgepodge of individuals seeing a market and the ability to profit off the “spread”. If there’s money to be made, you can be certain that a Chinese will be there to make that market.
There could be yet another “China bans crypto” headline in the future. Then again, it wouldn’t be a four year cycle without a “China ban” headline.