You still fail to answer my 2nd point I see. Perhaps you have no answer for that yet it is key to why BTC needs government oversight.
Yes, Putin and Xi were both elected (if we can call the Chinese dictator's politburo choice a democratic election... a stretch). But both made a mockery of the democratic electoral process once in power. That's usually the consequence of electing populist nationalists. Trump had the balls to try it in the US and still garners incredible support despite all that has transpired of his mandate.
To get back on subject, I continue to believe that BTC and other cryptos have a place in our world financial system, just not your ideological one. As I have said before, it can end speculative/ distortions of the currency market by becoming the next gold standard if the BTC whales relinquish their massive holdings and BTC gets distributed in some sort of formula among nations to create an abstract basket of value. BTC could be used in commodities contracts for example. But I know little about the currency market and the consequences of what I'm suggesting, so just a thought.
Are you talking about this question? The answer is very simple,
I do not know and I do not care. You're missing the point of decentralization piece of Bitcoin
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I can't believe I have to break down my post, but here goes
If you believe that the election process is always fair and the world is just, look at the examples of Hitler, Trudeau, PolPot, and Macron? I'll leave out the others
You may think the election process worked well, but it is clear by the massive amount of protests against Trudeau and Macron that millions of others do not agree with you
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To get back to China, you seem to be virtue-signaling that you're a China-hater? If I ask you where is your cell phone or computer made, there's a good chance parts of most of it were manufactured in China
I look around my place and most of the stuff is made in China. I am clearly a fan of China or else, I'd throw away my keyboard, my mouse, my laptop, my monitor in the trash, then I would not be able to post on ET and argue with anonymous posters
A China-hater should live like an Amish with no electricity or modern conveniences
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China is not an enemy to Bitcoin, imho. China is always many moves ahead and always strategic and very very intelligent in their execution of plans
Why would they make such a big mistake of pushing away Bitcoin miners out of China and helping to strengthen the value proposition of Bitcoin decentralization?
Perhaps it was not a mistake but instead a sacrifice, like a chess-move
China is a friend to Bitcoin, imho
