If you are a crypto-enthusiast or new-comer, you likely haven’t thought much about where your coin comes from and how it fits into the world at large. Instead, it’s hot. And even if you’re not yourself making money by owning it, there are a range of opportunities to participate, make a living, gain a reputation or just generally “be in the know”… marketing, guruing, programming, selling services and advice, etc. Here’s a good intro to what might help you choose what to do with your knowledge or participation in the crypto-ecosystem.
To start, a question: What good or service offered in the marketplace to all consumers but is forbidden entirely to producers of that good or service? Think.
There are plenty of goods and services that are regulated and approved for some people and forbidden to most or only under specific conditions, such as alcohol and drugs. And there are arms manufacturers and manufacturers of dangerous goods (poisons, etc.) that are also restricted only to particular users that are also covered by rules of use, etc.
Similarly, what if your country manufactured a consumer good that was forbidden to purchase by your own citizenry? What would that imply?
The answer is generally: it is something dangerous.
In my past writing on the subject of Crypto and “Decentralization” I have mostly just presented the simple facts:
1. China accounts for 66% or more of mining/block validation of BTC and as large or larger proportions of other major crypto
2. China accounts for over 90% of ASIC and Rig design and manufacture for PoW crypto
3. China has illegalized for its citizens the transacting of Crypto, accounts on Crypto exchanges, Crypto exchanges in China.
4. China is implementing the digital Renminbi
5. Belt-And-Road projects are all loans currently denominated in Renminbi
6. China has an open policy intention of undermining the dollar reserve system and control of it by western liberal democracies
So now you have the big picture of your lucrative, exciting and prestigious career in the Crypto ecosystem.