Hacker News Reader

This quote made me laugh:

"Hong Kong's Bitcoin Association said in a tweet in response to China's reiterated ban: "For those new to bitcoin, it is customary for the People's Bank of China to ban bitcoin at least once in a bull cycle."

Was gonna say. I feel like I hear the same set of news stories once every 3-5 years.

Just like the last cycle when they flip flopped on banning it every other week.

This still seems to leave open the ability for Chinese nationals to covertly convert yuan to foreign currencies without limits - buying compute with yuan which converts to BTC which can then be converted into anything. I wonder what the BTC/USD break even point is for that to make financial sense.