Bitcoin and its “pseudo-technology” will go to 0! China’s wake-up call

Bitcoin is bad (think so) – Unless you have just arrived in the cryptosphere, there is no need to remind you how much inability to control Bitcoin (BTC) is hated by the Chinese one party (CCP). The latter swears by e yuan (e-CNY), the Chinese version of a central bank’s digital currency (MNBC). The CCP media therefore continues to do so reduce Bitcoin and decentralized cryptocurrencies, to prevent them from overshadowing their own MNBC.

Bitcoin: “nothing more than a series of digital codes”

That Chinaat least his government Have been trying for years to reject bitcoin and his fellow men from his land (so far failed). From exile crypto exchange / funding (ICO) platforms already in 2017/2018, atprohibition cryptocurrencies (end of 2021), the Chinese Communist Party is doing everything to against adoption of the king of the cryptos.

The latest projection comes to us from the national press agency Economic Daily, KKP’s (let’s be polite) news dissemination. As especially reported by the South China Morning Post, the propaganda organ (oops, it escaped us this time) does not quite go with Bitcoin.

“Bitcoin is nothing more than a series of digital codes, and its profits come mainly from buying low and selling high. (…) In the future, when investor confidence declines or when sovereign countries declare Bitcoin illegal, it will return to its initial value, which is completely zero. “

Economic Daily

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Challenge: quote a common currency Fiat which is not depreciated over time

This last statement is very unfortunate as it paraphrases this famous quote from Voltaire on currencies Fiat issued by the States:

“In fiat currency [ndlr : comme le dollar ou le yuan], based solely on trust in the government that presses it, always ends up returning to its intrinsic value, i.e. zero. »


Nothing surprising here though. In fact, a month ago – and exactly as US Treasury Secretary Janet Yellen -, Economic Daily had already jumped on the stablecoin disaster UST of Terra (LUNA) to take advantage of it, or rather, to shoot the ambulance.

If we go back to its last publication on Bitcoin, the information body (let’s go back to it) for the common party is not missing either. blame on western countries:

” [Les États-Unis/pays occidentaux] helped create a market [crypto] highly geared, which is full of pseudotechnological manipulations and concepts. (…) ”

Economic Daily

There is also no shortage of Asian (or even Chinese) crypto exchanges that offer leverage effects, however … The South China Morning Post, based in hong kong and so much more neutralcommented on the words of their fellow journalists (we did not say “propagandists”) from Økonomisk Dagblad:

“Still, we know that cryptocurrency enthusiasts across the country have found solutions to circumvent the restrictions. They remain active in hiding. »

South China Morning Post

We did not say that! As you will understand, is cat and mouse games will go on and on, between Chinese crypto enthusiasts and their authoritarian government. Meanwhile, countries are starting to realize, like Britain that the hyper-monitoring of cryptocurrencies is futile and draconian. And their prohibition even more so as the universality of Bitcoin allows it in the nature of things resist censorship.

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