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RE: A Perfect Storm for Bitcoin?

in #bitcoin5 years ago

Dear @bravenewcoin

Another yet interesting choice of topic. I think that as the trade war between US and china seem to be escallating, we will witness more interest with investing in any kind of non-FIAT assets.

On one hand we may have some growing buying power, but at the same time if major fiat currencies would indeed be in trouble, then their value will drop. Does it even make sense? :)

Few places have been more affected by the economic turmoil than China, where citizens bound by strict capital controls have been forced to watch the yuan give back 11 years of gains against the dollar.

Wow. Wow. I wasn't aware of that. I just looked at the USD/Yuan and my eyes didn't believe in what I've seen. How the hell did it happened?

I wonder if european countries importing goods from China are also benefiting now?

to accuse China of becoming a 'currency manipulator' by weaponizing the exchange rate to protect exports and offset the impact of higher tariffs on Chinese imports.

Oh, correct me if I'm wrong. China managed to bring value of their currency down? Wouldn't it be very expensive for China to maintain this un-natural level?

Yours
Piotr

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