Why does China keep banning crypto?

Crypto is anti-communist. It is pro capitalism.

If you think politics vs technology is a warzone. Wait until the future of A.I. vs Crypto.

Why China is anti-crypto?

Have you thought about artificial intelligence? It’s a big buzzword. But have you thought deeply about a computer controlled world? If not, let’s discuss.

First, let me break down the Chinese ban. Since 2013, China has banned crypto 14 times. This week they tried it again. Unsuccessfully. The problem is you can’t shut down the internet. Sure 1.4 billion Chinese citizens won’t have access to Bitcoin but what about the rest of the world?

You see, Bitcoin is decentralized and doesn't rely on a single exchange or computer. It is the native currency of the internet. And a threat to the Chinese government.

China is banning crypto because they need control. This has forced activity to go offshore. So the ban was positive for crypto. In fact, the price of Bitcoin went up this week.

Don’t underestimate the competition

I know what you’re thinking. But why ban crypto? Let me clarify.

For starters, let’s not underestimate China’s position as a world power.

On one end of the spectrum, Americans believe China is well behind us in economic development. On the other hand, China seems to control the world economy (all of the current supply chain problems can be traced back to China today).

So what’s my point? What does this have to do with artificial intelligence?

Today’s technology race is centered around artificial intelligence. The Skynet of the 21st century. Elon Musk has mentioned the threat of this existence before. A.I. would be the Eye of Sauron in a futuristic world. It would track everyone’s movement and control the population.

That’s when I realized artificial intelligence would function like the Chinese Communist Party.

They want full control and cannot have unregulated currencies like Bitcoin around.

Crypto capitalism

Well I don’t believe contradictions exist. China is either rich and powerful or poor and struggling.

This version of extreme optimism or pessimism are contradictory in nature. The reality is the country is neither.

They are an equal competitor to the United States. A complete contrarian at that too. The antithesis of capitalism. A controlled communist country. It works for them. But it’s not our agenda to make economic decisions for them.

As China bans crypto, America can endorse it.

In fact, the SEC doesn’t plan to ban crypto. Why? Because it is capitalistic. And America loves the flow of money. And information.

P.S. If you haven’t yet, I recommend opening a Coinbase or MetaMask crypto wallet. Before dismissing the world of new finance, it’s worth testing new applications.

Creating a crypto wallet is different from a brokerage account. You own your wallet. You take custody of the assets.

This will be your first step to understanding the world of crypto. Beyond the currencies.

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