CZ Binance stated, people are worried about Bitcoin (BTC).
In response to “China’s $1 Trillion mistake, Bitcoin miners being shipped away.”
Looking at China banning Bitcoin and shipping away mining rigs, those who are positive about Bitcoin are like: Boy seeing these pictures really reinforces what a waste Bitcoin mining is. It seems like crypto people are a bit desensitized to it. But to someone new in the space, it seems deeply, truly wasteful. Not just the electricity. But all the hardware.
People with alternative patterns of thought were like: Maybe they have a bigger plan. The global powers have a plan, BTC was part of it and was just a beta test, why do you think the logo is a B for Beta? They want a geo tagged, biometric, taxed on the spot, cashless society and a carrot was dangled and everyone fell for it. I can’t imagine this price for the next 5 years.
Hard Core Advocates were like: People don’t need to worry. If all miners turn off their machines I promise to mine Bitcoin on my iMac’s GPU. Good news for miners all over the world. My rig just went back online yesterday.
I’m still not fully convinced that this is a rope-a-dope move by China and we’re seeing all these images for a reason.
Miners with little funds to work with: Hopefully we buy some of those rigs on the cheap. Those who know the value of mining rigs were like, would be interested to see gold mining. However, those who know the value of gold and how dispensable the mining rigs can be when regulators narrow down are like the difference is that gold is useful.
Gold supporters are like: You’re aware that once gold is out of the ground it can be used indefinitely and independent of mining, yes? Also, what do you think make up the materials of a GPU rig? Pixie dust? I’m not even against PoW mining, but your counter argument is irrelevant and has no substance.
It’s the same” what about”-ism that Bitcoiners always use because Bitcoin can’t be justified. ”What about the dollar?”,” What about gold mining?” etc.
I tend to think the Chinese are never forthcoming with their intentions but in this case we do have facts. The hash rate has gone down significantly so we know the miners have actually stopped. We also know that they have a CBDC ready to be utilized and Bitcoin is a competitor.
