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How China & Elon Musk Have Killed Bitcoin & Other Crypto-currencies

May 19, 2021

This is how you know a great nation: its impacts are global. China is showing the world that on purchasing power parity (PPT), it is the world’s largest economy. And if you go back to economic history, in the last ten centuries, China has dominated the global GDP by at least six times.

So, that takes me to the cracking paralysis of Bitcoin which is now below $33,000 to US$1. Why? The ascension of e-yuan is here, and China has to clean all cryptocurrencies from the China-balance sheet at personal, corporate and sovereign levels. The message is simple: a future of cryptocurrencies with Chinese participation is doomed, but that does not mean that crypto is dead. China has voted to be in charge of its destiny and e-yuan is that future.

You do not serve two masters at the same time and China rarely offers choices. So, when e-yuan morphed, a day like this was expected. It was never a shock because to expect China to allow its wealth to be decentralized in Ether, Dogecoin, etc is total lack of awareness.

But before you lionize Nigeria’s playbook on this - cleaning cryptos in its banking system- note this: China has offered an alternative to its people. When Nigeria banned, it did not offer any alternative. Hope that explains the differences in the game plan.

A new order is here!

Credit: Ndubuisi Ekekwe

May 19, 2021 at 07:51 PM
lmao, where all the doge coin to the mood dem?
May 19, 2021 at 09:07 PM
I lost $2100.

I am panicking. its still dropping 😭
May 19, 2021 at 10:07 PM
[Reply] musayaradua said:
May 19, 2021 at 09:07 PM
I lost $2100.

I am panicking. its still dropping 😭
chai, be safe dear
May 20, 2021 at 12:59 AM
Nigeria is so backwards goddamit. why did I grow up
May 20, 2021 at 06:22 AM
[Reply] gistvillage said:
May 19, 2021 at 07:51 PM
lmao, where all the doge coin to the mood dem?
Smiles.them dey hide o
May 20, 2021 at 06:25 PM
Elon Musk
May 20, 2021 at 07:02 PM
Is that so?
May 20, 2021 at 08:32 PM
[Reply] drphil707 said:
May 20, 2021 at 07:02 PM
Is that so?
yes o. have you seen what is happening with bitcoin
May 22, 2021 at 10:45 PM
Nigerian Government is not so bad you see. 🤪
May 25, 2021 at 08:58 AM
Am supprised ohh
Jun 03, 2021 at 01:27 PM
Nice
Jul 03, 2021 at 03:37 AM
Isokay