How China & Elon Musk Have Killed Bitcoin & Other Crypto-currencies
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
chai, be safe dear[Reply] musayaradua said:
May 19, 2021 at 09:07 PMI lost $2100.
I am panicking. its still dropping 😭
Smiles.them dey hide o[Reply] gistvillage said:
May 19, 2021 at 07:51 PMlmao, where all the doge coin to the mood dem?
yes o. have you seen what is happening with bitcoin[Reply] drphil707 said:
May 20, 2021 at 07:02 PMIs that so?
- ●Trump tells the US to invade and 'bomb the hell' out of Afghanistan if the Taliban doesn't return billions in US weapons and equipment
- ●President Biden on Afghanistan withdrawal, Taliban takeover intelligence decisions l WNT
- ●How Instagram King 'Hushpuppi' Helps Launder $1.3 Billion - Coffeezilla
- ●Jeff Bezos funds anti-ageing technology to help humans 'live forever'
- ●North Korea fires new long-range cruise missiles developed by the country's engineers
- ●Arise News Feed (Video)
- ●Lagos ranked 56th safest city in the world
- ●Users frustrated as Facebook, Instagram, WhatsApp crash
- ●5NOG 2021 what do you think that makes papa say that this is the last edition off 5 nights of Glory
- ●Germany shatters record for Covid deaths as country enters lockdown By Fred Pleitgen, CNN