What folks need to understand is that Crypto IS A BAD THING end-to-end. Maybe the analogy is of western democracies being dependent on oil from Russia and Saudi Arabia. Helping totalitarian or authoritarian kleptocratic regimes obtain influence over key aspects of our economy is a bad thing. And very bad thing if people don't know that it is the case.

Chinese miners are being compensated for mining. That is the plan so they can continue to own the space. And the CPC is quite aware of what that means.

However, I don't know where you got the idea that miners can't profit. As for run-of-the-mill Chinese, they can't do anything with their crypto they had when the laws changed Oct. 2019. They can keep it in perpetuum or until the CPC seizes it from them.

I'm not sure where you have your information, but having spent a lot of time in China and built and run a platform there and having had it shutdown... And in the aftermath, keeping tabs on my friends/colleagues, I am very well-informed.

It seems there are a lot of people who are uninformed/misinformed.

Here's a good reference on the state of legality and use of Crypto in China:

https://www.mondaq.com/china/fin-tech/944330/regulation-of-cryptocurrency-in-china

Here's what it says:

[The Notice also targeted cryptocurrency exchanges and ordered that any so-called "fundraising and trading platforms" shall not:

- Offer exchange services between fiat currency, tokens and "virtual currencies";

- Buy or sell tokens or "virtual currencies", or buy or sell "virtual currencies" as a central counterparties (CCP); or

- Provide price determination or information intermediary services for tokens or "virtual currencies".]

A more competitive market for mining hardware existed but is now permanently extinct. As is also the stable economics of mining profitably without the government subsidies that are the base of Chinese mining operations.

There's a world out there and it's good to spend time and effort to grapple with knowing and understanding it. Just to make sure you're not helping change it for the worse. If you would like any more reference material to find out how exactly the world of Crypto works (see Bloxroute, as well), let me know.