Monday, June 12, 2017

Chinese troops assault sandbox

The absence of government-backed regulation over the practice of bitcoin mining has apparently prompted the Chinese central government to forcefully influence the cessation of many commercial bitcoin mining operations in Sichuan.China’s province of Sichuan has attracted great interest from bitcoin investors and entrepreneurs in recent years, as the province has abundant access to hydropower and offers huge savings in electricity costs for mining businesses that operate in Sichuan.
Sorry, the sandbox is well regulated, it is the Chinese authorities who are unregulated.  These actions suddenly raise ledger prices as Chinese transactions move to Europe and America.  Here we have the cause of bitcoin volatility.  The solution are some betting pits where we can bet the inside information in the Commie Rat Party. Incentivize the SOEs and party insiders to put their money where they future actions are.

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