Replies to post #27558 on MGT Capital Investments Inc. (MGTI)

[Imperial Whazoo]

So, the question for MGTI is this: what will the impact be on bitcoin from the chinese limits newly placed on ICO issuance?

I trudged around youtube this long weekend reading up on bitcoin in China and as a consequence, I ended up with a whopping crash course in the politics of the 19th chinese communist party congress (upcoming in October) & on the politics of chicom owned industry in china & on the relationship of actual industrial ownership and the strength of the chinese communist party.

Due to MGTI's entrance into bitcoin/etherium/litecoin mining, the regulatory environment in the county that currently controls (thru chicom owned industry) 70% of worldwide crypto mining seems to me to be a question worthy of examination.

First for one thing, I seriously doubt MGTI is going to go to China to set up any kind of mining operation.

Second, I don't think the western press has even the tiniest bit of understanding of the fact that china is NOT actually a capitalist country, and as such, all attempts to explain things like bitcoin in china are either distorted explanations or they ar more akin to fiction than to reality.

Bitcoin is a threat to China because they can not control it. what they can do is regulate the issuance of NEW cryptos. The Chicoms today aggressively seek to control all aspects of that economy and chinese bitcoin miners is no different. The chicoms want to control bitcouin. More precisely, the chicoms want to control the players & people involved in all the aspects of bitcoin in china.

In that the block chain is distributed, the blockchain/distributed ledger is not controlable in any way that even resembles the manner in which other industry in china is controlled. As such, bitcoin is a major problem for the chicoms. They have done the one thing they can do: regulate the issuance of NEW ICOs. They can not control bitcoin itself (and this applies to all cryptos, not just to bitcoint), and the best they can do is own mining and exchanges inside their territorial borders; OWNING the controlling interest in the mines & the exchanges. Thats the long & short of it.

China is in a worldwide distributed ledger flood. They can not mop up their flooded basement. All they can do is shut off the open faucet that is running in their own basement. Banning new ICOs is like the chicoms turning off the water faucet in their basement but the floodwaters are bigger than their boundaries. Even so, it is logical that "president" Xi would regulate ICOs as a run up step to the October Commy Congress. It is the only thing he can do and its consistent with chicom thinking, so he took it. As to whether the result will be to dry up the crypto floowaters..... not so much.

Imperial Whazoo