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Author Topic: Cryptocurrencies are a Threat to China’s Communist Government: Elon Musk  (Read 218 times)

robertsmark

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At yesterday’s CODE Conference, Tesla’s CEO Elon Musk commented on China’s intolerance to cryptocurrencies.

According to Elon Musk, China is opposing cryptocurrencies because they are a threat to its communist government. Billionaire Elon Musk went further and alluded that the Communist Party of China wants to hold on to its centralized government, something that decentralized finance would jeopardize.

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sharabela

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I do not know whether it is a threat for communist government or not, but it would have good for cryptos if the Chinese were allowed to invest in it.

Selino

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Re: Cryptocurrencies are a Threat to China’s Communist Government: Elon Musk
« Reply #2 on: November 30, 2021, 07:02:18 PM »
Decentralized cryptocurrency poses a certain threat to any state, and not only the communist one. Any state seeks to maintain its centralized government.
The Chinese government, having recently banned the mining and circulation of cryptocurrencies, still wants to protect its digitized yuan from competition.

 

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