thank you for the contrarian view. this is helpful in finding truth.
while bitcoin historically was not the main instrument of capital flight, would capital flight not be much easier with bitcoin, especially for the average user?
one example cited elsewhere requires a lawyer to draft a $50M "invoice." it seems like the average chinese citizen would probably not have such connections.
is it possible the government is pre-emptively preventing flight among the masses? one way to disprove this theory would be to analzye the impact the masses could have on capital flight -- perhaps the majority of capital flight actually would occur among the rich and elite, who don't need bitcoin to move capital.
> is it possible the government is pre-emptively preventing flight among the masses?
China lets its citizens export up to $50,000 a year [1]. I think the typical bank's receivables financing [2] minimum is about $100,000 to $1 million. Lawyers, invoicers, et cetera might take a further 1 to 10%, so let's say $200,000.
On one hand, we have the argument that people exporting between $50,000 and $200,000 a year is a problem (but people exporting $50 million is not). On the other hand, we have concerns about rampant fraud.
while bitcoin historically was not the main instrument of capital flight, would capital flight not be much easier with bitcoin, especially for the average user?
one example cited elsewhere requires a lawyer to draft a $50M "invoice." it seems like the average chinese citizen would probably not have such connections.
is it possible the government is pre-emptively preventing flight among the masses? one way to disprove this theory would be to analzye the impact the masses could have on capital flight -- perhaps the majority of capital flight actually would occur among the rich and elite, who don't need bitcoin to move capital.