Bitcoin Soars on China President Xi's Blockchain Comments
The Breakdown
Blockworks
4.8 • 806 Ratings
🗓️ 26 October 2019
⏱️ 16 minutes
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Summary
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| 0:00.0 | Let's say China. |
| 0:02.0 | China, China, China, China, China, China, China, China, China, China, China. |
| 0:10.0 | China. |
| 0:15.0 | You go over to China, China, China, China, China, China, you take... |
| 0:20.0 | Welcome back to another crypto daily three at three what's going on guys |
| 0:28.0 | Yeah, so today it's October 25th Friday and we will be talking about |
| 0:35.6 | China because holy crap What a what a wild day. So let's, man, so much to |
| 0:45.4 | talk about. Let's go back a couple days to Zuckerberg's testimony in front of Congress, right, |
| 0:51.1 | about Libra. Obviously, you guys have all, you've been with me for the last couple days, you've heard both about what happened and then there are a reaction |
| 0:57.8 | to it on crypto Twitter. But let's talk a little bit about this one aspect of it, which is really |
| 1:03.0 | important, which is the role of China. So in the first set of hearings, as we talked about back |
| 1:09.2 | then, David Marcus was a little bit more coy about the whole China question, right? |
| 1:14.6 | He was mentioning other people were going to do it if we didn't. |
| 1:18.6 | This time, Mark Zuckerberg was much, much more explicit. |
| 1:22.6 | He talked about China explicitly. People asked him about China explicitly. |
| 1:26.6 | And it was really very, very clear that that |
| 1:29.8 | was the big baddie that they were trying to position. Ryan Schott Adams here summed it up. |
| 1:35.5 | Thusly, he says Zuckerberg's pitch to the US government, you can't let China pull ahead. We'll |
| 1:41.0 | bend the knee. You run the monetary policy. We build the tech. We keep USD as global |
| 1:45.6 | king, get rid of cash, and 10x your financial surveillance. Your dollar plus our tech. What do you say? |
| 1:51.8 | Well, I summed it up a little bit differently. I said, Zuck says, quote, if we don't do it, |
| 1:57.5 | China seriously will, guys. China the next day says, okay, let's do it. And pretty |
... |
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