Why doesn't Bitcoin Ban CHINA?
Aren't we sick on China trying to manipulate Bitcoin by now. Over the past 3 years, they have flip-flopped 3 times on the cryptocurrency. You can bet, come next year, all the exchanges will be back online with new regulations and stronger than ever.
Here are 4 reason Bitcoin doesn't need China, and good reasons why the proof of work mining network should just ban China and any transaction that moves in or out of their IP range:
Reduced volatility. Rumors that the PBOC has been manipulating prices have been around for the last year. Zero Hedge reported on it just a couple of months ago: http://www.zerohedge.com/news/2017-06-15/peoples-bank-china-manipulating-bitcoin-price
Focus on India. India has an almost equal population, albeit a lower GDP. They still need a simple/fast system for fund transfer.
The buying power of Coin Base is huge. Coinbase.com announced last month that they now have 10 Million Users. If each user bought $100 worth of Bitcoin, that would be a $Billion in market cap.
Cater to countries like Venezuela. The currency, and system, in Venezuela is failing: http://www.dw.com/en/5-things-to-understand-about-oil-rich-cash-poor-venezuela/a-38478166 The 31 Million people there need a way to store value, and use that to buy goods and services.
So lets get together, and ban China from Bitcoin.
India's per capita is $1723 and China is above $8000. Don;t know where you got your figures.
Source
PCI is always skewed by the rich, especially bad in China.
I used China's average salary from here: http://www.chinadaily.com.cn/china/2016-01/21/content_23183484.htm
But looks like you can make a lot more working at Apple, 12 hours x 6 days x $1.85/hour is $7k/year. Long/Hard week.
I have edited the parody.
Thanks!
bitcoin has no central controlling authority.
Of course. This is a parody.
Wouldn't things be better if the Chinese couldn't buy it. Let them have their own cryptocurrency.
actually they're doing that very thing...making their own.