In the past few days, we have seen a fierce Chinese government crack down on Bitcoins and cryptocurrencies. The usual excuse are are given by official sources include;
- China want so setup regulatory frameworks
- China wants to weed out ICO and cryptocurrency scam
However, could there be another reason? Could it be that all the above reason were just a deliberate cover up for a different reason?
It could here and here is why;
The Government of China wants to own cryptocurrency - not control it
The Chinese government has always wanted to control currency - just like US president accused them of being currency manipulators.
They have tried without success to replace the US world as global reserve currency with their own currency.
Now, the government want to try it again - this time with cryptocurrencies. The Chinese Bitcoin community has already proven to the Chinese government that it is capable of leading the world in cryptocurrency.
Now to complete the live long dream of owning a world currency, the government just has to do the following;
- ban Bitcoins and cryptocurrency - almost done
- take over Bitcoin facilities and equipments
- launch own national cryptocurrency
- force its billion plus population to adopt it
- done - the Chinese government owns a world currency
What do you think? Could this be the reality of what is currently unfolding?