Joseph H Sadove
1 min readMar 30, 2021

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A more untrue statement about BTC or any PoW crypto was never spoken:

" The liberation of the economy from the hands of governments and central banks continues. More and more people are claiming their power over money, and this is how Bitcoin will continue to move forward."

With at least 66% of BTC (and other PoW crypto) being mined by Chinese companies clustered on the north and north-west borders and almost another 15% across the border in Mongolia by the same companies, one government has control over fate of crypto. And this is an absolute government, not one influenced by elections, principle or international norms.

And, when you take into account that the entire technical stack used to mine crypto is also almost entirely designed and manufactured in China, well...

And Chinese citizens are forbidden to buy or sell crypto or have an account on a crypto exchange.

Whatever arguments or plugs one may want to make about Bitcoin and PoW crypto, these three are disallowed:

1) Crypto represents any kind of "liberation"

2) Crypto is decentralized

3) Crypto is free of control from [fill in the blank]

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