can't reveal source but sitting on best explanation so far about last week's FUD from one of the very few people that's actually in a position to know, might try to turn it into a tweet thread
if we type this up I can tell you it will definitely be the best take on this thus far, anywhere. note: it's fairly consistent with what we've been saying for the past few days, just with some additional nuance.
asking for permission
stop saying it has to do with Justin Sun that's absurd
working on it (note that it's 3 am here)
the most likely scenario (because I'm having this cleared by legal, please keep in mind I'm running a fucking business here, and an extremely lucrative one at that) is that they will come to twitter and tweet it under their own name. I'm working on it.
see pinned tweet it’s out
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releasing an abbreviated version of the memo has need approved. memo is from a Beijing expert who is extremely qualified to comment but is not part of the Chinese government. in my view just about as authoritative as it’s possible to get.
I’ve spent part of my day asking around and I’m ready to rate the claim that hash rate has already started declining as a result of regulatory uncertainty as mostly false. As of the time of this tweet largely untrue that capacity is *already* going dark due to Friday’s messaging.
Worth noting that the raw data on this especially an eyeball test is extremely misleading because of recent issues with Sichuan grid (this has been covered in overseas press).
With that said, I do agree that this episode is likely to accelerate Chinese hash rate moving abroad. No one likes regulatory uncertainty! But currently especially with razor-thin margins, most people are in wait and see more.
ngl I've possibly been blowing off steam this weekend by roasting everyone in the Boobahub chat one by one but is it really my fault they added me to the chat in retrospect it was inevitable
through this process I also learned a new word, "Cheems"
trust is a very special thing. I spend *a lot* of time thinking about trust. but today I’m thinking about how a lot of people have weird motivations to scare you and make you panic.
I can’t promise we will always get it right. But I can promise that we will always do everything we can to objectively call it like we see it. You have my word, it’s our way of contributing to the community.
Candidly I could probably make a lot of money by trying to scare the living daylights out of y’all these days. But the smartest form of greed is long-term greed. And you win the long-term game by building up a reputation over time, so that’s exactly what I intend to do.
this map of the United States that made it onto a Sri Lankan local TV station gives me the same feeling as when I listen to American pundits talking about China
*this definitely also applies to Chinese news talking about the United States
an alarmingly high percentage of y’all including if not especially Americans seem fine with this map
0) Last week the Beijing municipal government released a 145 page document outlining its vision for utilizing blockchain to create a "programmable government". We read the doc so you don't have to. Here's what's important. THREAD
1) Background: In a speech at the 18th Collective Study of the CPC Central Committee Political Bureau, President Xi Jinping emphasized the use of blockchain as an important breakthrough for independent innovation of core technologies.
2) Since then Beijing municipal government has set up a special blockchain working group to comprehensively promote the development of blockchain in terms of innovation, technological breakthroughs, application demonstrations, industry cultivation and talent training.