China's Weak Crackdown on Bitcoin, BTFD

Dense episode today. We talk about the recent bitcoin price drop and how or if China had anything to do with it. China has come out with massive support for “blockchain” yet they are cracking down on cryptocurrency exchanges. Are we in crazytown or are they serious? We’ve seen this before. The Central Bank Digital Currency (CBDC) is just the latest incarnation of altcoins, but this time, because they are feeling the heat.

Links

China is going to “dispose of” local cryptocurrency exchanges https://cointelegraph.com/news/bitcoin-drops-below-73k-as-china-vows-to-dispose-of-exchanges

ByteTree https://bytetree.com/bitcoin

European Commission and blockchain https://www.coindesk.com/eu-launches-estimated-e400m-blockchain-ai-fund-to-avoid-lagging-us-china

The Fed on digital currency https://twitter.com/Zachary/status/1196942798081138688?s=20