159
China has had their third crackdown on Crypto since 2013. They've "banned" crypto in varying ways in 2013, 2017 and 2021. And what they are doing is essentially pulling the same exact stunt over and over again, and still succeeding cause people for some reason believe that if a single country doesn't allow crypto the entire system might fall apart... despite the system being decentralized aka not being under the influence of single particular party/group/country.
If China really wanted to ban Crypto they would do it in an instant and they'd be done with it, but why would they do that when they can artificially manipulate the price for it to dip by a lot and than have a solid entry point back into whatever they want to invest in. They don't have to wait for the market to crash cause they can cause it themselves, or they can just add onto a pre-existing causality and make it more effective therefore amplifying the drop in price.
Basically, until most of the top crypto has a solid foundation and relatively low volatility when compared to now countries like China can do pump and dumps as they please, even if we all notice it (which people don't) there isn't much that can be done about it...
When the biggest drawback of a decentralized and secure network is the fact that the majority of it's hashrate (at least for BTC) comes from a authoritarian country it almost stops being decentralized... cause there is a majority controlling it in a way. If China were to actually ban Crypto it might cause another "crash" but it would be healthy for Crypto in the long term so I hope they actually fully ban it and stop doing this play over and over again...
That's that from me, hope you enjoyed it.
