#GM34 – Bitcoin “Heading to Zero”… Says the Chinese Government

GM Bitcoiners,

China can’t keep Bitcoin mining out of their country, and they can’t keep Bitcoin out of their mouth.

The South China Morning Post (state media): 

“Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high.” 

This is the same country that banned Bitcoin mining in July 2021 and declared all cryptocurrency transactions illegal in September last year.

Yet they’re still worried about Bitcoin? 

This headline says it all, really…

I can’t imagine why ‘Chinese execs from state-backed blockchain drive’ would say such things. 

They couldn’t have any bias, could they? 

Surely not. 

In all honesty, their comments regarding Web3 and ‘crypto’ being mostly schemes and money grabs aren’t that far off the truth. It’s just painful when they paint Bitcoin with the same brush. 

Not that anyone expects a country moving closer towards a ‘brave new world’ to actively show any appreciation for a technology that gives individuals more control over their lives. 

Bitcoin is “a string of digital codes”. 

Code is speech. 

Speech has the power to change the world.

Bitcoin is changing the world through truthful speech. 

As for their comment regarding earning returns – “returns mainly come from buying low and selling high.” 

We’re not in this to earn a fiat return. We’re here to store value over the long-term that no one can take away or manipulate. 

We’re not here for more money. We’re here to fix the money.

If you’re also here for sound money, and you’re thinking beyond 4 years, then you’ll likely love how easy we make it to save sats over at FastBitcoins.

Written by Henry

Content Manager at FastBitcoins. Came to Bitcoin for the sound money... stayed for the memes! When not on Bitcoin Twitter, Henry can be found dancing Argentine Tango or in the gym.

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