Friday, January 8, 2016

Use Bitcoin to skirt capital controls

Bitcoin out performed every currency, measure in  dollars.  This result is only recent due to Chinese dumping Yuan in the face of capital controls.  Its a function  Bitcoin does well, and makes us wonder.  Firsty, the Chinese government should charge a fee and allow capital flight, they could collect the rise in Bitcoin value. And second, if China issued a crypto currency there would be no need to skirt capital controls.  But how can China avoid adopting crypto currency when looking at the enormous efficiency gains.  They want yto be he world workshop? Then merge digital currency and digital transaction; go completely on line, just adopt Ethereum.  Then when  Chinese communists wants to be jackasses, hey can do it with simple digital transactions.  All they need is a bot with a good grasp of the Theory of Everything.  The  bot offers secure transaction, tamper proof exchange and probability trees, and the Communists bribe and harass citizens with Python.  Since the Chinese crypto currency pays taxes, it is universal in the economy, so asshole Python routines written by jackass communists will always be effective, and efficient.

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