Is the chinese government messing with the market? Or just FUD?

I think i get that they want to become more energy efficient with mining but are they just setting this up for the digital yuan or are they going to start promoting the already established coin conflux? It would be nice if they started implementing the ability to spend the currency over there instead of changing it to fiat. I mean i see that a company in malta will now be accepting payment for rent using ADA. I’m mining in North America and just want to know if there are any practical use in conflux’s native country.

In China, crypto assets are not likely to be used as fiat money, but as an asset to be able to be protected. Of course they can be exchanged, but they cannot be speculated.
Currently the animals are crazy and have an impact on many ordinary people, so the government is adopting a policy of suppression to prevent greater financial risks. This does have a big impact on the market.
On the other hand, the public chain technology represented by conflux is supported by the state.

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China’s bitcoin regulation this time is roughly divided into two parts, one is to crack down on mining. The second is to guard against financial risks, that is, financial problems related to bitcoin.
The reason for the supervision of mining is that the power needed by large mines mainly comes from places rich in thermal power, but the energy consumption of thermal power is large, which is contrary to the recent national policies of carbon peak and carbon neutralization. In the transaction supervision, after clearing the transaction risk, it is added that individual investors can buy and sell freely and bear their own profits and losses at the same time.
Although the negative reaction of the secondary market is great, I don’t think it shows that China has a negative perception of cryptocurrency and blockchain technology.
Last year, China listed blockchain technology as the core technology breakthrough, which shows that the high-level hold a very optimistic attitude towards blockchain technology and the will of long-term implementation. China has the ability to become a leader in blockchain technology. Although China missed the opportunity of the first and second industrial revolution, it grasped the opportunity in the third industrial revolution. Now a considerable part of China’s Internet industry has surpassed that of the United States. In the era of Web3.0 represented by blockchain technology, China can not give up. As the representative of China’s core blockchain technology, it is conflux.
The blockchain industry is still a blue ocean. In my opinion, conflux as a public chain is like a shipbuilding base with advanced manufacturing technology. The scale and influence of the base depend on the ship built, that is, conflux ecology. These ships will use the most advanced technology from conflux to enter the blue ocean of blockchain. Let people see the power of coflux.
Although CFX and FC continued to fall in the panic of the secondary market, I am still optimistic about the development of conflux. The team’s expectation is to match conflux with Ethereum. After CFX and FC continue to fall, many investors in the secondary market sneer that the price is very different from Ethereum. But we need to know what the value of a public chain depends on. The value of bitcoin is that it creates blockchain technology, which is equivalent to the consensus of all users of blockchain consensus. It is the totem of consensus. The value of Ethereum lies in that it creates smart contracts, smart contracts bring defi, and defi brings infinite imagination of blockchain. That’s why their prices are so high, because the consensus behind them is so strong.
Now that they have brought subversive revolution, what has conflux brought? I think it’s the unlimited imagination brought by extending smart contracts, extending them to the technology that everyone can use blockchain without threshold. Conflux solves the problems of too low TPS and high transaction cost of Ethereum, and has the ability to greatly improve the blockchain technology. But why can’t CFX and FC go up? This goes back to the analogy of previous shipyards. Every ecology that comes out of conflux is conflux itself. Or in the early stage of development, they may be more representative of conflux than CFX.

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中国这次的比特币监管大致分为两部分,一是打击挖矿。二是防范金融风险,也就是与比特币有关的金融问题。
对挖矿的监管是因为大型矿场所需的电力主要来自于火力发电丰富的地方,但火力发电的能耗较大,这与近期国家推行的碳峰和碳中和政策相悖。在交易监管方面,在明确交易风险后,增加了个人投资者可以自由买卖,并同时承担自己的收益和损失。
虽然二级市场的负面反应很大,但我认为这并不表明中国对加密货币和区块链技术有负面看法。
去年,中国将区块链技术列为核心技术突破口,这说明高层对区块链技术持有非常乐观的态度和长期实施的意愿。中国有能力成为区块链技术的领导者。虽然中国错过了第一次和第二次工业革命的机会,但在第三次工业革命中抓住了机会。现在中国的互联网产业有相当一部分已经超过了美国。在以区块链技术为代表的Web3.0时代,中国不可能放弃。作为中国区块链核心技术的代表,它是汇流的。
区块链行业仍然是一片蓝海。在我看来,conflux作为一个公有链,就像一个拥有先进制造技术的造船基地。基地的规模和影响力取决于建造的船只,也就是conflux的生态。这些船将利用conflux最先进的技术,进入区块链的蓝海。让人们看到coflux的力量。
虽然CFX和FC在二级市场的恐慌中持续下跌,但我仍然对conflux的发展持乐观态度。团队的期望是将conflux与Ethereum相匹配。在CFX和FC持续下跌后,二级市场上很多投资者嗤之以鼻,认为其价格与以太坊相差甚远。但我们需要知道公有链的价值取决于什么。比特币的价值在于它创造了区块链技术,相当于区块链共识的所有用户的共识。它是共识的图腾。以太坊的价值在于它创造了智能合约,智能合约带来了defi,而defi带来了区块链的无限想象力。这就是为什么他们的价格这么高,因为他们背后的共识是如此强大。
现在他们带来了颠覆性的革命,那么conflux又带来了什么?我认为是通过扩展智能合约带来的无限想象力,把它们扩展到每个人都可以无门槛使用区块链的技术。Conflux解决了以太坊的TPS太低、交易成本太高的问题,有能力大大提升区块链技术。但为什么CFX和FC不能上涨?这又回到了之前船厂的比喻。每一个从conflux出来的生态都是conflux本身。或者说在发展的早期阶段,他们可能比CFX更能代表conflux。

以上 翻译

do not forget:
On April 5, 1933, US President Roosevelt ordered the people to hand in all gold coins and gold bars to stop the currency circulation of gold. The Federal Reserve received US$20.67 an ounce of gold from the people, thus quickly accumulating a large amount of gold reserves. The Gold Savings Act passed in 1934 further made private ownership of gold currency illegal, and the Act was not repealed until 1974.