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    What China’s Central Planners Don’t Understand About Bitcoin

    Similar to the tragic individuals that appear in Greek mythology, China has a long and illustrious history of being on the verge of victory only to have it snatched away from them. Its ruling class in particular has always had an insatiable desire for self-flagellation. This has been the case since the beginning. The tragic and heartbreaking saga has reached its conclusion with the cryptocurrency bitcoin being made illegal.

    China was firmly established as the empire that lasted throughout the ages because it possessed a wealth of natural resources, a sizable population, complete access to the South and East China Seas, and a coastline that stretched for 9,000 miles.

    And for almost two thousand years, it exercised complete control over the area.

    Long before the English and Spanish, the Chinese constructed huge fleets of treasure ships that were capable of travelling to the farthest ends of the Earth. These ships even made it to the New World several centuries before Columbus set sail.

    In an alternate timeline, the United States of America would have been ruled by an emperor rather than a monarch, and Mandarin might have supplanted English as the most widely spoken language around the globe.

    The ruling elite, also known as the central planners, were motivated by jealousy, fear, and animosity against their own burgeoning and successful merchant class when they issued the order to set fire to all of the ships. A deliberate act of setting oneself on fire, as it turned out.

    This resulted in the Chinese being unable to travel to other parts of the world, isolating them further from the rest of the world and making them more susceptible to the atrocities that colonial Britain brought with it to China’s borders during the Opium Wars.

    The communists, led by the mastermind behind central planning himself, Chairman Mao, were the next generation of central planners to cause mayhem and ruin. Again, the target of his ire was a growing segment of the middle class. This time, the hardworking farmers living in China’s rural areas were used as sacrificial lambs before being put to death.

    The so-called “Five Black Categories” were passionately eradicated by Red Guards comprised of Mao’s staunchest supporters as they marched across China. These individuals included prosperous peasants and property owners, as well as counter-revolutionaries, right-wingers, and heretics of any kind.

    After the society was wiped out, lakhs of farmers were sent to labour camps where they were forced to generate agricultural yields as a group. Eventually, famine set in, and millions of people lost their lives as a result. To be found in unlawful possession of even a single grain of rice was sufficient grounds for the execution of an entire family.

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