1/2 of Bitcoin Miners move to Kazakhstan from China    

So Bitcoin faces a real test.  A major economy moves against in on several levels.  China has announced it is going to produce its own digital currency.  Fine, that makes sense.  Sovereign fiats face a real threat.  A totalitarian society can't risk losing control so it offers a competing product then outlaws the competition.  The world is reminded that China is not really a capitalist system, lo and behold are we surprised it moves to further establish its close-fisted approach to the markets.  Surely not.  

It will be interesting.  No doubt China will be dumping any crypto reserves or will have done so already.  So there is downward pressure on the Currency... JPM and others announce Bitcoin in a portfolio is rat poison.  No doubt they have been playing the squeeze taking short positions as well.  In a depressed market the smart money is going short--surprise surprise.  What is their real risk?  That they can't dump their shorts and go long when the next buying opportunity  presents?  No, they will be the first out.  The first to flip thier positons  Then instead of crying "Rat Poison", they will just pat themselves on the back for their brilliant marketing strategy.

But now all these BitCoin Miners will be in Kazakhstan.  Hardly tthe bastion of the freemarket, no doubt Kaz has made some deal to provide power at very competitive rates.  Congratulations.  I do sympathize with the citizens of Kaz.  No doubt they will be subsidizing the crypto industry--already in a squeeze.  Without having a significant portion of its citizenry prepared to take advantage of sophisticated opportunity to profit from the upheaval.  

Would that there were.  Would that there were many educated investors in the 3rd world, because cryptocurrency offers real hope to peasant and king alike.