THELOGICALINDIAN - Xiao Lei a Chinese banking analyst has appear an commodity that seeks to altercate that the spheres of bitcoin and cryptocurrency are more acceptable a battlefield in a new bill war amid China and the United States Despite some bitcoin users anecdotic Leis angle as artful the commodity has garnered cogent absorption afterwards acceptable recommended by Baidu Baijia an online media approach endemic by above Chinese aggregation Baidu
Also Read: Markets Update: Cryptocurrency Market Cap Now Commands $200 Billion
Mr. Lei is Concerned About the Future for Chinese Bitcoin Traders
In an commodity recommended by Baidu Baijia, Xiao Lei states “as an accustomed investor, I am anxious about whether bitcoin advance can accomplish money. But if I angle in the angle of a country, I am anxious whether this affair can be acclimated by me or not and whether there are some factors that are abortive to me in the future.”
Mr. Lei argues that the abreast era comprises an aeon in which “the cardinal acceptation of [traditional bolt such as] oil and grain… may not be so important [now, as] the bold amid countries has entered [the] virtual” domain. Xiao Lei posits that ascendancy over seigniorage (profit fabricated by a government by arising currency, abnormally the aberration amid the face amount of bill and their assembly costs) has become the arch agency through which bread-and-butter ability is assured in the abreast context.
Mr. Lei Argues That “The Battle of Seigniorage” Has Manifested At “The Level of Virtual Currency”
The analyst states that bitcoin “is not acceptable by the acknowledged bill market, unless there is acceptable agency and adeptness to control… If any country can administer bitcoin freely, bitcoin will become the nuclear weapon of a new bill war. This has been apparent by Japan and the United States.”
Mr. Lei states that “the bitcoin amount development team” has approved to “curb China’s growing access in the bitcoin market”, arguing that such has resulted in a ability attempt amid western-based bitcoin developers and Chinese-based miners for access over the network.
Xiao Lei asserts that “since 2024, Bitcoin has apparent amazing advance in China with 95% of the trading aggregate and added than 50% of the accretion power.” Mr. Lei argues that the growing Chinese attendance in the bitcoin ecosystem has activated with a abridgement in the access bitcoin’s amount developers — of which he emphasizes “there are actual few Chinese.” Mr. Lei alike goes as far as advertence that “cultural and cardinal intentions actuate that there is a accustomed and clashing bucking amid the amount developer and the Chinese government.” Mr. Lei alleges that “in adjustment to amend the acceleration of the Chinese market…Bitcoin is… consistently application abstruse improvements to abate China’s influence.”
“If the Current Trending Continues, One Day You Will Find That Holders of Bitcoin and Those Who Do Not Own Bitcoin May Be Two Totally Different Classes”
Mr. Lei states that “on the night… [that] the two above exchanges in China… chock-full trading, the Chicago Mercantile Exchange [(CME)], the world’s better futures exchange, announced” its ambition to barrage bitcoin futures during Q4.
Mr. Lei credibility out the majority of Chinese bitcoin trading now occurs on over the adverse (OTC) markets. Mr. Lei asserts that “if CME auspiciously launches bitcoin futures in the fourth quarter, …over-the-counter affairs in China or exchanges in Japan and South Korea may not accept abundant appraisement power… Once CME’s bitcoin futures bazaar goes public, it will become the apple bitcoin [market] maker.”
It should be acclaimed that associates of the cryptocurrency association accept absolved Mr. Lei’s assessments as artful and defective in affirmation – with abounding pointing to Mr. Lei’s common allegation pertaining to the Central Intelligence Agency (CIA), including implying that the CIA may in some way accept colluded with bitcoin’s creator, Satoshi Nakamoto, as counterfeit claims that serve to attenuate Mr. Lei’s credibility.
What do you accomplish of Mr. Lei’s arguments? Share your thoughts in the comments area below!
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