Hi,
you may know, that I'm not a communist/socialist and that I'm for free markets. One country, which enslaves billions, namely China, has decided to continue the communist enslavement program with a crackdown on crypto.
Even if the Socialism wind is blowing in the West, we can see what horrors it can do. A real democracy, namely Switzerland, is helping the development of crypto.
There are also some leftist in the crypto world. I hope that they can do the math now and see which country has freedom and which doesn't. This ban can show us that states, especially totalitarian states, want to have the strict control over the population. China is Orwell's 1984, packed in shiny clothes.
I have some Chinese friends that don't want to go back to China, as they don't know anything there. Everything is state owned or controlled. Crypto was and is a means to freedom, where the state can't intervene. It can't block people to take funds over the border and it can't block people on spending in by choice. This freedom is dangerous in an enslaved society.
Crypto brings freedom, freedom of choice, and the more people adapt it, the easier it is going to be used by us and the more control will we have on it. The states are pushing the crime card, but money can be moved in different methods, from gold to bank transfers, it has not to be crypto for illegal things. It is just an excuse to take over it.
What shall we do? Buy crypto now at a discount. In a way, China shoot itself in the leg, as it could have taken over the crypto world, but they really set crypto free.
How do you see it? Is it beneficial for us or not?