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Elon Musk: China bans government because it threatens centralized government

Tesla boss Elon Musk has Consider on China’s strictest crypto ban to date at the Code Conference on 28.

While it’s impossible to say exactly what’s behind this hostility, Musk suggested that the Chinese Communist Party is hostile to cryptocurrencies because they pose a threat to the centralized government:

“I think cryptocurrencies are essentially aimed at reducing the power of centralized government and they don’t like that, that’s my speculation.”

He stressed that cryptocurrencies are valuable because governments do not have the ability to control them.

The mining bans could also be related to the widespread power outages currently worrying China’s southern provinces, Musk said.

While commenting on the potential market move with just one tweet, Musk half-jokingly concluded that it is a good thing when the market rises.

According to the dollar billionaire, there is “a long-term goal” for cryptocurrencies, noting that while it is impossible to “destroy” cryptocurrencies, governments have the potential to slow the growth of the industry.

However, the Tesla boss made it clear that he does not see cryptocurrencies as the second coming of the messiah, but only to reduce errors and delays in the monetary system.

Elon Musk praises hamsters in the Dogecoin trade

In one tweets Musk recently praised a hamster with “crazy skills” in response to a BBC article published by Dogecoin co-founder Billy Markus.

“Mr. Goxx,” named after the Mt. Gox cryptocurrency exchange that made headlines around the world after overtaking investment legend Warren Buffett, the S&P 500 and even Ark’s Cathie Wood.

Mr. Goxx started crypto trading at the beginning of June with a buy order for Stellar Lumens (XLM). His career performance reached a current high of 42% on September 17th with an unrealized gain of 136 euros.

Hamster has its own office, “Goxx Box”, in which business can be done at any time.

It selects the list of cryptocurrencies with the help of a “purpose wheel”. The mouse then has to decide whether it wants to be on the buy or sell side of the transaction by going through one of two “decision tunnels”. All trading sessions are broadcast live Pull out.

Dogecoin was one of the most successful transactions for Mr Goxx. It bought the meme coin in July and sold it in September with a 46% profit.

The real identity of the caretaker of this rat is still unknown.

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Annie

Bitcoin magazine

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It selects the list of cryptocurrencies with the help of a “purpose wheel”. The mouse then has to decide whether it wants to be on the buy or sell side of the transaction by going through one of two “decision tunnels”. All trading sessions are broadcast live It selects the list of cryptocurrencies with the help of a “purpose wheel”. The mouse then has to decide whether it wants to be on the buy or sell side of the transaction by going through one of two “decision tunnels”. All trading sessions are broadcast live It selects the list of cryptocurrencies with the help of a “purpose wheel”. The mouse then has to decide whether it wants to be on the buy or sell side of the transaction by going through one of two “decision tunnels”. All trading sessions are broadcast live It selects the list of cryptocurrencies with the help of a “purpose wheel”. The mouse then has to decide whether it wants to be on the buy or sell side of the transaction by going through one of two “decision tunnels”. All trading sessions are broadcast live

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.