They, china had already declared a war on bitcoin, absolutely and – and this seems to be a step further in trying to ban it completely look. It does feel like an escalation. Doesnt it if they are really saying no transactions. I would like to know exactly what that means. Does that mean i cannot buy with it, or does it mean that i cant transact with you? I cannot send you bitcoin from my phone to your phone in you know, so that i can no longer trade it on an exchange. So i im still a little bit vague on what it means uh. What a transaction is in this particular circumstances and how strictly theyll enforce enforce it, but it is confirmation china, doesnt, like this and bitcoin at the moment, still needs china and chinese investors. You know theres a lot of chinese investors that have been long bitcoin and have been using it and have been building it up. So its an escalation and – and we shall see how much you know – crypto prices respond to it. Yeah. I think its interesting um francine makes a good point that theyve incrementally been fighting again. They banned exchanges, they banned mining, but it looks like what theyre saying is, and the emphasis is on the word. All all crypto related transactions are illegal. To me. That means anytime. You want to trade, it be it for goods and services or trading with friends. Any kind of crypto related transactions are illegal, and i mean just looking at the price it doesnt seem to have hit bitcoin.

That hard right now were looking at a drop of three percent of still 43 351. How important is the chinese market to bitcoin? The chinese market is extremely important and you know the question is how how well china will be able to enforce this? I do wonder, though, matt whether this is whether we are talking about a ban of transactions or a ban of ownership, because if we, if ownership is still legal, then effectively, you will have to be able to trade it somehow. But if its about transactions – and i wont be able to pay for goods and services with it, then its an escalation, but not as serious as it as it had been right. Because then, it is no longer a financial instrument either which it for the most part lets face. It. Bitcoin is not used that much for transacting in the financial system. It is used as a financial asset as well. Well, although it puts it, it puts it really. In a gray area, this is like in the us. This was the issue with marijuana a lot in a lot of states. You could own it, you could hold it, but you werent allowed to buy it or sell it. So the question was: how do i get it? Well, um the law didnt make that clear. They just said you cannot buy it or sell it, but you can hold it, and that may be the same uh case with bitcoin here, well its clear its clear, which way the direction of travel is here in china right.

I think that, for me, is the message i we know that china is not keen on cryptocurrencies in general, particularly ones that they dont control. So you know uh central bank digital asset will be a completely different thing, but but but but for the for the for the wide spectrum of cryptocurrencies. I dont think that they have made it clear that this is not something that they like eddie. The crackdown in china is not, unfortunately, limited to cryptocurrencies theyve been cracking down really, as our tom mckenzie put it to us on risk across the board, and that includes in the property sector, which raises the evergreen question. We have no idea what happened with the dollar coupon bond payment yesterday, whether or not they actually met that deadline. What happens in the next 24 48 hours from from china and in general? I i think we we we have to wait and see. We have to wait and see whether there is any contagion that comes from this. And, yes, i think you know the chinese system, it it its uncomfortable bedfellows, with uh, with with capitalism in general, and therefore you know its its a its a hard case for them to make um in general that you know trading and and free markets and letting People speculate as much as they want, so so some sort of crackdown is is possible, but i, but for the evergrand fallout. I think it is possible that you know that china contains this.

It is not an its not something that they can prove that they cannot prevent the spillovers if they wanted to.

https://www.youtube.com/watch?v=Lp9-EI5a-DU