https://finance.yahoo.com/amphtml/tron-enters-partnership-prc-national-120040977.html?guccounter=1
This is interesting for this platform and not surprising really. As I alluded to previously I've got a hunch that the state backed Sun and gave him the green light to takeover this platform which had the potential to be a relatively safe space for Chinese nationals to have a discourse outside the prying eyes of the CCP.
With Jack Ma's disappearance after some remarks that certainly wouldn't resonate with the government of China a space opened up for Sun to play his hands, and work in tandem with the party to build an Orwellian blockchain.
We see this trend in the west as well with JP Morgan and Wall Street heading initiatives to regulate crypto and snatch up the lion's share from the volatile and often shady world of crypto.
Stable coins tied to the US dollar seem antithetical to the revolutionary idealism of crypto enthusiasts but the big man always forks the lil guy so we knew this was coming. How we respond will forever steer the course of socioeconomic and political doctrine. This is an unprecedented time to be alive and engaged in the process.
Will dtube soar? Will tron's stable coin be the digital asset of a billion Chinese nationals? For a guy that once referred to his tron baby as a shitcoin the recent turn of events seems to shed some light on possible manipulations in the past to clear the path for such a prodigious endeavor with the Chinese government.
Too bad my linguistics are limited to English, Spanish, Tamil, and bahasa melayu it may be time to focus on mandarin as the dominant nature of China and it's effect on the global economy are undeniable.
I really do wish to hear from any of the Chinese Steemians but there seems to be little to no cross over on this fractured potentially healing space.
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This is amazing 😂
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Haha yeah. Amazing! But now I have the doubt if I had already shared with you the story behind the image.
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The rapid rise in Bitcoin is in large part driven by money supply manipulation via the federal reserve. The United States labels China and other countries as currency manipulators because they manipulate the price of their currency, but you can also manipulate the price indirectly by manipulating the supply and that has been something that the United States has done for a while. The other issues is that the European Central Banks will often follow the United States' lead so when we make an interest change they often follow suit.
On top of government manipulation a lot of hedge funds are buying up large amounts of Bitcoin and reducing its liquidity which is also driving its prices up. Now you see Government manipulation and private sector manipulation. Other than manipulating the currency you can also manipulate the price of raw materials via tariffs or via states sponsored over production through subsidies and that also can also have a broad effect on prices. Good work on this article!
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Very astute observations you have here and indeed it's impossible to argue these points. Well, one could but it's silly to take indefensible positions for the sake of being contrarion.
The USA loves to wag it's finger at China but they're merely competing with America and implementing it's tactics.
An ancient Chinese proverb is that a mountain top is only big enough for one tiger. It will be a tumultuous battle for the next decade and it's going to be difficult keeping up with an open capitalist autocracy with a much bigger and arguably more efficient labour force.
If you have Netflix and haven't watched "American Factory" I highly recommend it as it highlights the cultural and ethical differences between the east and west.
Having lived in SE Asia for over 4 years now I can clearly see a blending is most equitable but getting there won't be easy.
Cheers! Nice to have found some thinkers engaging here on Steem. Appreciate you reading and chiming in with insightful thoughts.
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It's good to engage with you. I'll definitely follow you and check out the documentary that you recommended. I have a lot to say on this topic. I could probably speak and write for hours on it. I will leave you with a documentary recommendation as well:
https://www.pbs.org/wgbh/frontline/film/in-the-age-of-ai/
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Great thanks, sorry for the late reply I'll check it out!
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