Many moving hands

in LeoFinance4 months ago

I will apologise in advance for the pictures, as I don't have a lot to work with from this bed, so have to make it up with some Lightroom edits. They are all taken on a 10x zoom on my phone, which I have been very impressed with for two years now.

I have been pretty busy and have been a bit behind the crypto times, but it seems that the moves by China to shutdown miners have gone into effect. This is pretty huge news for BTC, but it is going to be interesting to see what comes of it, as the closing of the Chinese farms should result in a far greater degree of decentralization for the blockchain, making it even more resilient.

Itbwill also be quite a big thing to see how the newly minted Bitcoin supporter of El Salvador manages to get its volcano-powered (?) mining farm up and running. There were estimates that it could provide about 0.5% of the local GDP, but this could be inflated due to the vacuum on mining from China at the moment. I suspect though, the vacuum isn't going to survive for long.


China is actually going on a bit of a legal rampage at the moment, with the probe into iron ore prices driving the market down 9 percent. However, it is still up 30 percent on the start of the year, because as normal, China has looked to infrastructure its way out of economic hardship.

The world is again seemingly splitting into two distinct power regions, which is fantastic for those in power, but never really works out that well for us, the normal people. While we get crushed, the rich and powerful keep advancing their means to advance their ends, in an endless cycle.


What I think is going to be a "bit of a problem" is that not only are we as a group being able to organize and connect ourselves, we are becoming less compliant in ways that weren't the case earlier.

I was talking to a random tradie the other day who was talking about the use of his tax money for a whole lot of things he didn't agree with. This has always been the case, but in Finland, I get the sense that people are increasingly looking to take a little loving under the desk, something that definitely didn't happen often before.

IMG_20210622_082031 (1).jpg

This is a cultural change, but it is driven by the economy and not just because it is bad for many people. This has been a long time coming, as many people are becoming far more educated in financial matters and recognising that the numbers aren't adding up.

People are getting taxed heavily, having services cut and losing their jobs, while companies are making record profits and investors don't even know where to put all their money anymore. The disparity between those with and without is growing and the middle is starting to feel themselves get dragged into the bottom, and they don't like it.


I am quite confident that unless the governments come together and find a way to cooperate with people appropriately, they are going to be facing a shadow economy. This is not some kind of black market drug dealers and not just hairdressers or a plumber taking a little cash, it is a fully functioning economy that provides value and opportunity for vast members of society.

It is hard to picture what this looks like for most people I assume, myself included, but due to the technology, we are able to manage ourselves in highly precise ways. Far more so than the governments would ever want to provide, as of it is as precise as blockchain, they can't get away with with the crap they have been saying is the only or best way to do things.

Yeah, it isn't nice to see the slide in valuebabf k am guessing there are a lot of people panicking, but that is part of what you signed up for. You wanted high gains, but it also comes with risks and because of the fundamental structure of the technology, one of those risks is people who do not want to give up their current control.

The move in China is a catalyst for many more things to come that I think will strengthen crypto further. This can mean that in the future, China will have far less say over the crypto markets and while it will likely take some time to reorganize, the consolidation of price is actually a distribution of power.

There are many pieces in play, don't get stuck staring at the bright lights.

[ Gen1: Hive ]

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China jas always been back and forth with its crypto policies. Soon enough, these will no longer affect prices this badly, we all hope.

However, I can't help but feel like everything is working together for a lot of good. There have been a lot of predictions for a $20k BTC value but who knows, it may be wrong.

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China is probably going to backflip in a month, quietly.

Would you buy at 20k?

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There would probably be a prediction of a lower price at $20k. But yeah, I would buy at $20k

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I have often thought that government has overstayed their time at the party. With overtaxing and cutting of services across the globe, it makes one reconsider their purpose or effectiveness. Hmm a shadow economy. Interesting. Thanks.

They have overstretched and we have lost the understanding that they work for us, not vice versa.

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This is great insight into the current situation. I must admit that China worries me as they have large shares in this country, if they are feeling the heat economically, South Africa might have to cough up and there's not much to cough up and the middle class here is beyond annoyed with the situation.

The mining powered by volcano will be very interesting and I'm keen to see how this pans out for the country. I'm intrigued by your photos, I love the colour.

I'm just sticking it out, riding the waves and I'll see where it goes market wise, after all it's a good time to buy if you can. Saw that Maserati has bought up a whole chunky of BTC, looks like they're following Microstrategy & Tesla.

Let's just hope that the CEO of Maserati isn't planning on manipulating the markets on Twitter too. Could be a cool battle though if they tweets opposites lol.

At the moment, China has a bit of many countries, I suspect. That debt has been printed and bought from somewhere.

Would be nice to have large companies starting to make public moves from all over the world - should put some interesting pressures on the systems.

I love reading your posts. Informative and developing articles. The photos are pretty good. It's great that you're able to do that even in that environment. I hope you get well soon.

Cheers mate and thanks for the kind words :)

I believe those who reject blockchain and cryptocurrencies are greedy for other people's property and want to control it without transparency @tarazkp

Yes, but that doesn't stop them taking other people's property. If you are looking for change, the "be the change" approach still works.

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Of course I've started to tell my friends about crypto and blockchain, many of whom became interested when I talked about transactions and transparency @tarazkp

China has a history of doing that long before BTC was even around, so not that surprised there. I think many countries will rather try regulate crypto than ban it - if they ban it, they'll force it underground. If they regulate it, they'll tax it and governments everywhere love taxing stuff that they didn't even produce.

I sense that China is only playing their cards this way because they will launch a national crypto currency very soon.. possibly a direct competitor to BTC. Will be very surprised if they dont.

I suspect so too. I also suspect that they are taking control of the local mining operations completely.

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I guess time will tell. Thank God I have my blog to rely on because these past weeks my portfolio (BTC dominated) has been bleeding heavily 😁

Yeah, it has been a pretty hard time to watch it melt away. A couple more years I guess :D

They've already started rolling out ATMs for Digital Yuan.

it is a fully functioning economy that provides value and opportunity for vast members of society.

This is something I strongly believe in.

I liked the pictures, by the way!

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Would be nice to have a better economy function for a while instead of this.

The pics are all within 2m of me :D

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Sooner or later goverments will accept blockchain technology and its product, cryptocurrencies.

It will be interesting if they don't.
Firstly, they will use it as a mechanism for control only... until that fails.

I wonder how many of those Citizen wall clocks there re currently ticking away the time somewhere in a government or corporate office buildings, those things are everywhere. Just think if the governments that all buy use and display time via a Citizen wall clock could just agree on a few more important things.

I hope all is going well, and that your recovery will be as swift as the ticking of the second hand on that wall clock.

lol - very good point - they are everywhere. Citizen must be worth more than apple! :D

Things are going okay, not ideal, but still ticking.

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It would be really awesome if some other countries could adopt some of the same policies that El Salvador has. I would like to see at least one or two more do the same thing and then I think that we will really be on a roll. Hopefully this move by China causes a shift and the miners move to more crypto friendly areas.

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I wonder what would happen if some random poor country in the desert built a solar array and become a massive miner.

Let's find a country to buy and find out!

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I read somewhere recently that there's a city in Australia that practically runs on BCH Bitcoin Cash, so it's definitely going to happen. Not all at once but I think the ball is already rolling with coins that have low transaction fees and quick transaction times.

I hope so! We need something to turn things around here!

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The photos look fine XP I was going to question the pink and blue light and then remembered that you'd said something about editing them ^_^;

I'm happy with gentle economic revolutions (even if it's taking too damn long, good things take a while to get right I guess). It's the bloody ones I don't like x_x

Funny that when I was in hospital I was blogging aswell. Thank god I am not the only one and th pictures I took were from the IV got be resourcefull
NEXT time maybe I will ask if that is treatable and if blogging while hospitalised will mean I am an addict just to make sure