Bitcoin Could Be Chinese ‘Weapon’

[XCANA]

We'll know that China has the highest percentage in the mining of bitcoin which is around the 63%+, this doesn't make or give the China the impetus to comment on using the Bitcoin as their weapon against the rest of the world. Bitcoin is decentralized and no singular entity will ever get the control of this technology but "Bitcoin could be anything in the future, remember this".

[DooMAD]

What isn't a threat to USD's reserve currency status these days?  

I don't see this as anything other than the published musings of a random mogul on what must have been a slow news day.  It doesn't hold water.

[BrewMaster]

the real threat to the US dollar that is going to also dethrone the USD’s monetary status is the US government itself. with the way each of them that take the seat of power start wars with the rest of the world, the way they keep printing money like maniacs  and how they waste trillions of dollars on meaningless adventures on the other side of the world.
and China doesn't need bitcoin to dethrone USD, they've already been doing it by having the world economy by the balls.

[doomloop]

Just this morning I read the headline from Yahoo Finance call Bitcoin Could Be Chinese ‘Weapon’.
https://finance.yahoo.com/news/paypal-co-founder-bitcoin-investor-215101452.html

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Yan - SnapBots.

A lot of things have been said about Bitcoin, but this one of it being a Chinese weapon is the one I am not going to be believing , since it’s decentralized , I can’t imagine anyone or the Chinese doing anything stupid with Bitcoin, which is what I thought at first when I read this topic and of course I can remember the 51% attack and things like that, but I believe things have already changed and there have been more miners and more of competition.

But when I read the article on Yahoo, I understood that what he was saying was that Bitcoin might a tool that’s used by the Chinese to dethrone the US dollars. Well, I don’t know about that.

[arwin100]

Just this morning I read the headline from Yahoo Finance call Bitcoin Could Be Chinese ‘Weapon’.
https://finance.yahoo.com/news/paypal-co-founder-bitcoin-investor-215101452.html

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Yan - SnapBots.

This is to much overthinking on some scenario since even other country can us it, also Chinese is not the only country which have huge count of users since the adoption now scattered everywhere. Also stop listening on conspiracy theories regarding on bitcoin since for sure they write that to create more traffic on their article and want to earn money on curiosity of the  people.

[Kong Hey Pakboy]

What isn't a threat to USD's reserve currency status these days?   

I don't see this as anything other than the published musings of a random mogul on what must have been a slow news day.  It doesn't hold water.

I think that almost everything that China is doing is pretty much threatening to the US considering their influence is expanding, like the one now that they are doing African continent. I don't know how bitcoin can be a Chinese weapon but do we really have to worry if it ever was one?

[Kabul]

China does have alot of bitcoin but those bitcoins belongs to investors, not the government. And the Chinese are human as same as us so there is no reason to use bitcoin as a weapon. They only care about making more money with cryptocurrency.

Moreover, how can bitcoin becomes a weapon when it is not recognized by the government or any authority? I think people just scare of the China and that is why they make this nonsense article

[ven7net]

Just this morning I read the headline from Yahoo Finance call Bitcoin Could Be Chinese ‘Weapon’.
https://finance.yahoo.com/news/paypal-co-founder-bitcoin-investor-215101452.html

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Yan - SnapBots.

Personally, I don't like such headlines, as they say only one thing, that someone is already looking for someone to blame. It can be assumed that this kind of information is aimed at discrediting China in this case. And why BTC, for example, cannot be a weapon of America or another country, or why Bitcoin is a weapon in general, and not, for example, a saving circle? In general, as always, someone is trying to divert our attention to unnecessary goals. I believe that Bitcoin is just Bitcoin and it plays a role for everyone.

[Haunebu]

Nonsense. Absolute rubbish. BTC is meant to be a weapon for the citizens craving for decentralized and anonymous financial transactions which is why it cannot be utilised as a weapon by an particular government.

Whoever wrote that article is an absolute idiot in my opinion. BTC will always favor citizens over the government in any country.

[davis196]

People keep talking that China controls Bitcoin since 2016.So far,there's no valid evidence to prove this claim.
If Bitcoin is a Chinese "financial weapon",then how the Chinese will use it against USA?
Crashing the Bitcoin price,so many US investors will lose their money?This seems like the most obvious way to use BTC as a weapon,but how many big investors have bought BTC-Microstrategy,Tesla and bunch of other companies.Is this enough to cause severe damage to the US economy?Nope,I don't think so.
This is just another clickbait article with no facts and proofs.

[Shasha80]

I admit that China is very ambitious to dominate the world economy, but making Bitcoin a weapon like it is impossible. Because surely China prefers
to use digital Yuan instead of having to use Bitcoin. Besides, as far as I know, no country can control Bitcoin, let alone turn Bitcoin into a weapon
as it doesn't make sense. I suggest not reading too much conspiracy theory, so it will end up making us think beyond reality.

[Pandji02]

China have many big mining farms. Someday BTC will be too hard to process and China will be one of the countries that can mine it. At least this is my view on situation.

[DooMAD]

What isn't a threat to USD's reserve currency status these days?   

I don't see this as anything other than the published musings of a random mogul on what must have been a slow news day.  It doesn't hold water.

I think that almost everything that China is doing is pretty much threatening to the US considering their influence is expanding, like the one now that they are doing African continent. I don't know how bitcoin can be a Chinese weapon but do we really have to worry if it ever was one?

I don't believe we have any concerns at all, no.  One minute the media are saying China have declared war on Bitcoin, the next minute, the media are saying China will use Bitcoin to take over the world.  It's basically just one mindless, sensationalist figment of their imagination after another.   

[nak02]

Just this morning I read the headline from Yahoo Finance call Bitcoin Could Be Chinese ‘Weapon’.
https://finance.yahoo.com/news/paypal-co-founder-bitcoin-investor-215101452.html

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Yan - SnapBots.

China was the one of the most big markets, people and also economy, they have future plans ahead and when you said "weapon" about bitcoins, Do you mean is they can overwhelmed  other countries that holding bitcoins also, well in the near future fiat is gone and china knows about that.

[mezzaluna]

Just this morning I read the headline from Yahoo Finance call Bitcoin Could Be Chinese ‘Weapon’.
https://finance.yahoo.com/news/paypal-co-founder-bitcoin-investor-215101452.html

We know a lot of bitcoin in China, but if that's true, how can they turn bitcoin into a ‘Weapon’.
How does it affect the world?
And will countries in the future start competing for Bitcoin with each other?

Yan - SnapBots.

Its a news regarding Paypal and Cryptocurrencies. How could even China be fond of Cryptocurrencies when they are trying to ban it within their country? They are trying to ban it because they do not have the means to control it and Bitcoin did not start in China so using it as a weapon would be far from their decision making. They are studying it to find ways to control it but turning it into a weapon sounds weird specially there are already a lot of Cryptocurrencies but not one of them is used in destruction of anything.

[Hydrogen]

If calling the corona pandemic the chinese virus is racist.

I don't even want to know how offended china is over bitcoin BTC being labeled a chinese weapon.

 

[giantrobot]

There are now many countries around the world using Bitcoin, but not only China. If many people take advantage of investment in Bitcoin to perform illegal money laundering, Bitcoin becomes a powerful weapon. Bitcoin can directly affect the economy of countries. There may be fierce competition among countries when investing Bitcoin.

[Artemis3]

Heh, i hope this entices the Chinese politicians a bit in favor of bitcoin, i doubt it tho.

Anyone with "someclue" (obviously not these media outlets) should know bitcoin renders ALL fiat, including dollars AND yuans obsolete. So saying this is a "chinese weapon" is as stupid as it gets. The bitcoin simply does not lose its wealth overtime like all fiat and even some altcoins are designed to do.

If you are scared about bitcoin because nothing you studied in economy explains money not losing its value, study the Austrian School of Economy. Especially if you pretend to be some sort of media covering economy, go ahead and start reading, get a clue of what is to come: https://mises.org

[Anonylz]

Thiel opined that, assuming China is long bitcoin, the cryptocurrency could pose a threat to the U.S. dollar’s reserve currency status.

If it is to be that kind of weapon then there's really nothing bad in it for us investors. It's the central banks that should be worried.

I'm a EU citizen and I couldn't care less about USD losing its status. I've never bought anything using USD. I've never even held a dollar bill in my hand.
I try not to play "their" game simply because they don't care about me. All they need me for is to take a loan and deposit my hard earned money in their bank.

Why would you when you have your currency but then again if for any reason you find yourself in the United States am pretty sure you will be compelled to have dollar in your wallet,  

Between I don't see what is so bad in depositing money in the bank, isn't it for safe keeping! Or would you rather have cash lying around in your apartment with the danger it may bring,

And let's imagine there isn't anything like digital currency (btc) and all you have got is the bank, what would you do? Just curious.

[proTECH77]

The population of Chinese are into bitcoin investment which in no distance time, they will use bitcoin to eliminate any kind of poverty or economy failure that is affecting the country. Bitcoin is well legalized in China that is giving their citizens access to bitcoin investment, to reduce unemployment in the country. With the strategy the government is putting in place, to give all bitcoin users in the country a secure environment to carry out their bitcoin activities in the country.