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RE: CryptoCrash - Jeff Berwick on China, Jamie Dimon and where Cryptocurrencies Are Headed From Here

in #dtube7 years ago

Great job Jeff. I have been following you in the youtube. Just starting here...

While I am actually living in China, I don't feel the freedom that you mentioned. Further down the road, I am a comparative high paid working class, the tax rate are not as such low as you think it might be. With China also getting addicted to loan & deficit budgets (or probably forced by US to avoid massive appreciations on FX), the road ahead is kind of uncertain. Chinese has been promoting own version of technology innovation (weibo to twitter, wechat to whatsapp, etc etc) with restricted border line, the recent digitizing local currency (CNY, or RMB whatever you call it) with wechat & alipay plus recently formalizing VAT Invoice to includes business registration number which all leads to the track tracing the money flow. Be also noticed that all privacy focused cryptocurrencies (monero, zcash etc) are not trade-able in China. I think China is pushing towards a totalitarianism.

In any case, I am even more positive on cryptocurrencies with Chinese government trying to do something about it. It proofs that is a treats. And, it is important that bitcoin are being challenged and proofs its resilience.

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Very interestring comment from the China point of view. Thanks for sharing this.