andrewducker: (Default)
[personal profile] andrewducker

Chinese BitCoin

Date: 2018-01-09 12:44 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
I can't tell if China is most worried about the use of BitCoin as a secret currency that it can't monitor, or about really very large amounts of electricity theft (and resulting polution) or about the risk that BitCoin poses to financial systems (where China's are probably more vulnerable to a shock and a crash than the Chinese would let you believe.)

Re: Chinese BitCoin

Date: 2018-01-09 12:56 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
Good point.

I don't think the electricity usage is large enough that it would be causing serious imbalance in the Chinese energy market. Large enough that you wouldn't want it stolen, not so large that you'd want it to stop (so long as you were getting some economic benefit from the activity.)

Re: Chinese BitCoin

Date: 2018-01-09 02:21 pm (UTC)
danieldwilliam: (Default)
From: [personal profile] danieldwilliam
If I were the Chinese government I think I'd prefer that the cheap hydro was used for something more socially useful (or more aligned with the desires and ideology of the Chinese Communist Party.)

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