A Prestigeous Award for startups and startuppers

  • #ADMP NEWS & BLOG OF THE WEEK
    • #ADMP NEWS & BLOG OF THE WEEK
    • #CRYPTONEWS
    • INTERVIEW OF THE WEEK
      • ANALYSIS/OPINION OF THE WEEK
    • PRESS RELEASES
  • STARTUPS & FINTECH
    • #CRYPTOANALYSIS
      • LADIES OF THE #BLOCKCHAIN
      • #IRON MEN OF THE BLOCKCHAIN
      • #CRYPTOWARS
    • FINTECH
    • STARTUPS
  • ADMPers COMMUNITY
    • ABOUT US
    • A PROPOS (FR.)
    • OUR TEAM
    • E+BOOK POUR LE WEEK_END ??
    • PRODUCTS & EVENTS
  • SOCIAL MEDIA
    • #CRYPTOARTS
    • #ADMP PODCASTING (#STARCAST)
    • SOCIAL MEDIA

CRYPTO WARS EP9 S1: THE RISE OF THE CHINESE ‘CRYPTO-DRAGON’?

Posted by admin on May 31, 2018 3:02 pm / 0 Comments

 

PREVIOUSLY on CRYPTO WARS: In the latest episode (From Episode V), we explained that the ‘Bitcoin crypto asset’ was an application (or ‘App’) built from a core blockchain algorithm; This Blockchain  ‘protocol’, was created by a mysterious japanese computer scientist and ‘Beautiful mind’ of the early internet days’ : Satoshi Nakamoto San’

This ‘data-fact’, establishes the roots of the Bitcoin community not only in Japan, but also in China and South-Korea, the other ‘Big three Crypto-Tiger Economies’ of South-East Asia: The largest Bitcoin factory and ‘Ghost town’ in the world, is located in #Ordos, deep inside  Chinese’s Mongolia

 

 

 

FIRST…A LITTLE HISTORY LESSON:

China’s former leader, chairman Deng Xiaoping, also written Teng Hsiao-p’ing, also known as ‘Xixian’, was the paramount leader of the People’s Republic of China from 1978 until 1989. He led his country into revolutionary market-economy reforms. He famously said :

 

 

不管黑猫白猫,能捉老鼠就是好猫。(Deng Xiaoping)

 

Translation : (Don’t care whether the cat is black or white, as long as it catches the mouse, it is a good cat!’)

The cat metaphor followed the previous ‘romantic’ strategy of the ‘Great Leap Forward’ theorized by chairman Mao. Deng Xiaoping approach would be much more practical and based on a typical ‘iron fist in industrial glove’ policy: China would ‘by any means necessary’ drive entrepreneurship, as part of the country’s struggle for emergence and prosperity, in the last 30 years.

 

 

(Courtesy of Phil Potocnik)

 

Sometimes that drive would lead to dead-ends, in the middle of the Chinese industrial ‘heaven’: Like these ‘Ghost towns’ built at the speed of light during the economic boom time, and quickly abandoned and emptied of its residents, when the economic downtimes arrived, like in 2014.

Nothing new…

 

1. THE GREAT CRACKDOWN?

The same ‘Ghost-Town’ phenomenon happened during the California Gold Rush in the United States. Back in the 19th century, when entire towns would go from  ‘Boom Towns’ full of residents and bright buildings, to turn into ‘Ghost Towns’ with no more local residents and empty derelict buildings, once the local goldmine had been fully exploited!

 

(Courtesy of the “Bohamian Blog)

 

Ordos, is still home of roughly a million residents. More or less. ‘Give and take’: It is a ‘Ghost town’ on a Chinese scale! ==> After driving through its impressive empty streets, we finally reached the 355-square kilometer site of Kangbashi district, which was an out-of-town futuristic building development planned to house around a million peoples. Today the site, is home to just above 20000 residents, using only 2% of the planned urban development

The huge warehouse on the outskirts of the former ‘Ghost-city’ of Ordos, has been operated since 2015, by Beijing #Bitmain Technologies, the world’s first large-scale Bitcoin mining operation.   It is a huge set of warehouses filled with rows and rows of computer hardware dedicated to one thing and one thing only: Bitcoin mining – Which consists in validating in real-time, Bitcoin transaction, and the production of new Bitcoins.  

The factory or mining operation of a new kind, also mine Litecoin and other altcoins. In 2017, the Cambridge Center for Alternative Finance, wrote in its white-paper that China’s know-how in computer hardware had turned it into a ‘Bitcoin dragon’:

 

“ Half of the Bitcoin’s network processing power in the world, was located in China, until the Great 2018 crackdown !! “

 

(Courtesy of Alex Keda)

 

 

2. THE RISE OF THE ‘CRYPTO-UNDERGROUND’

However in January 2018, China extended a crackdown on most Bitcoin community activities. ICOs are used to crowdfund and raise money for crypto startups. Bitcoin mining operations consist in verifying transactions and creating new coins. Both activities are vital for the Bitcoin ecosystem!!

However in January 2018, China extended a crackdown on most Bitcoin community activities. ‘Initial Coin Offerings’, or ICOs for example, were used to crowdfund and raise money for crypto startups. ICOs are now banned. Moreover, Bitcoin mining operations were targeted too!! Bitcoin ‘Mining’ consist in verifying transactions and creating new coins. ==> Both activities are vital for the Bitcoin ecosystem!! However businesses closures are still going apace. Crypto businesses are forced to shut down. Many are nevertheless going underground: As Bobby Lee, CEO of BTCC, China’s oldest Bitcoin exchange, explained in January 2018. When asked about China’s Bitcoin Ecosystem, once the premier in the world, he simply dropped:

 

 

“ It’s gone underground” (B.Lee / BTCC)

 

 

It seems as if China was ready to roll out its own new cryptocurrency; And…has decided first, to clean the country of its many Bitcoin operations…

…Before launching the crypto-Yuan, ask the #CryptoJeDi ?

… But..if you look at our graph, below, the share of Yuan in the Bitcoin trading ecosystem is greater than the dollar’s !

 

(Picture: Courtesy of Quartz media LLC

 

 

 

For how long? Only time will tell…

 

Thank you.

 

TO BE CONTINUED …

Next week, the Season 1 Episode 10, of the CRYPTO WARS SAGA Carries on in the ‘complex Far East’, where the iPhone, Kung-Fu, Shaolin, meditation,..and the World’s 1st factory, came from…CHINA, with: “CRYPTO WUTANG? ‘ In The MYSTERIOUS SATOSHI SAN, PART VI” or 神秘的なサトシさん, PART VI, by #TheDarkCryptoJeDi’

 

END.

 

Hermann Djoumessi
Hermann Djoumessi, MA-Fintech social Media Consultant #ADMP
Mireille KOOH,ADMP Senior Social media analyst
Nassim Belouar, ADMP Senior Crypto-analyst
Nassym Louradi, entrepreneur, Crypto-analyst
ADMP Webmaster, Founder Vocalang

 

PLEASE, TIP US:

If you like what we do and want to support ADMP and the crypto ecosystem we are trying to build with many startups, then support our effort by tiping us below:

Bitcoin:

1Je3KDzjccEf1XiQmezTiBPsSGfjPF98ev 

 

Ethereum:

  0x54Da36497331a2f467947422C19b97ED286fA9A8

 

 

Please, keep sending your info to the #JeDi here: teamadmp@gmail.com and they will appear on its next content delivery, as always submitted, via E-mail. Next week, we will keep exploring the fascinating ‘Crypto’ Asia! Stay tuned and keep reading, liking and commenting this blog, please!  

 

#ADMP on Twitter: #ADMP Awards

#ADMP on Facebook: #AFRIK+DIGITAL MARKETPLACE

#ADMP on Medium: https://medium.com/@admpawards

#ADMP on Reddit : https://www.reddit.com/user/admpawards

#ADMP on GooGle+: Team ADMP

#ADMP on Whatsapp: #ADMP Projects

#ADMP on Linkeldin : AWARDS ADMP

#ADMP: www.admpawards.biz

 

 

Related posts:

  1. #ADMP PRESENT: TALES OF THE CRYPTOWARS – S1E1 0. ZIMBABWEAN 2017 CRYPTO-BINGE? Let’s take a DRONE-VIEW from history,...
  2. CRYPTO: COULD YOU CROWDFUND WITH #WESUCCEED ?   ADMPawards : Hello Prudence ! Can you introduce yourself and your...
  3. TALES OF THE CRYPTOWARS – S1E3 ‘THE GREAT CRYPTO FORK’ 0. #CRYPTOSUMMER OF SAM 2017 ! We left you in...
  4. CRYPTO WARS EP6 S1: THE RISE OF CRYPTOJAPAN ? 1. THE ELEGANCE OF THE PROTOCOL – プロトコルの寛大さ – Oleg...
TAGS #Bitcoin CA$H, #Bitcoin Segwit, #Bitmain, #CRYPTOARTS, #DLT #Crypto #Blockchain, #EPITA, #EWHA, #Fieldbloom, #IvanOnTecH, #StarWars, ADMP, back2to the future, Bancor Hack, Bellouar, Biff Tanen, CES17, CES18, china, Colion Noir, CryptoAcademy, cryptowars, DLT, Ethereum, Ethical Hacking, Feedspot, Golden shield, Google analtics, Henosys, Hermann Djoumessi, Hootsuite, hottest crypto summer of all time, INSEEC, Lightning network, mickael J fox, OBOR, Ordos, Professor Griff, ranking, Smart contract, Smile expo, Storytelling, summer of Sam, summer of sam 2017, tech, The #DarkCryptoJeDi, The Dark Crypto JeDi, The great crypto fork, The hottest cryptosummer!, Timebox, TOP25 BEST BLOGS FOR Entrepreneurs, Vitalik buterin, WANG DYNASTY, Wu-Tang-clan-IIT, youtuber
SHARE

Related posts:

  1. #ADMP PRESENT: TALES OF THE CRYPTOWARS – S1E1 0. ZIMBABWEAN 2017 CRYPTO-BINGE? Let’s take a DRONE-VIEW from history,...
  2. CRYPTO: COULD YOU CROWDFUND WITH #WESUCCEED ?   ADMPawards : Hello Prudence ! Can you introduce yourself and your...
  3. TALES OF THE CRYPTOWARS – S1E3 ‘THE GREAT CRYPTO FORK’ 0. #CRYPTOSUMMER OF SAM 2017 ! We left you in...
  4. CRYPTO WARS EP6 S1: THE RISE OF CRYPTOJAPAN ? 1. THE ELEGANCE OF THE PROTOCOL – プロトコルの寛大さ – Oleg...

#ADMP CONTENT SEARCH

CRYPTO JACKSON#5 INDEX

Bitcoin, Dashcoin, Ethereum, Litecoin, Monero, Ripple

#ADMP LATEST POPULAR POSTS

The 4 most visited posts in last 42 days:
  • HOME 2420
  • #BUZIGO:BUSTING THE INTERWEB!! 887
  • #FACEBOOK2.0: ENTERING THE #BLOCKWEB SOCIAL MEDIA? 612
  • TECH216: ESEN - SUPER CAMPUS NUMERIQUE 359

CRYPTO JACKSON#5 INDEX

Bitcoin, Dashcoin, Ethereum, Litecoin, Monero, Ripple

AFRIK DIGITAL MARKET+PLACE: Accelerate your startUp globally to more than 40,000 tech professionals worldwide !

#ADMP ENGAGEMENT COUNT

  • 363This post:
  • 907685Total reads:
  • 1183Reads per month:

RSS #BDB1: BLOCKED-DOWN BLOCKCHAIN POD’

  • #BDB8: Stanislas #MAKO = #KALART and the RISE of #TOKENARTS !! November 23, 2021
  • #BDB7: Fata HASSANI = LAEKA, #Blockchain et #CHATFLUENCE !! June 27, 2021
  • #BDB6A: Nicolas CANTU ! #Supply chain and Blockchain technology September 8, 2020
  • #BDB0: JORDAN, co-founder #AAVE September 4, 2020

#ADMP CONTENT VAULT

#ADMP Latest Comments

  • Adult Chat Rooms And Cams on THE ‘MAGIC SYSTEM’ OF UKAOMA MICHAEL
  • MBBS Admission in Russia on RANTING WANG (#NEOPLACE): BLOCKCHAIN IRON LADY#1 – PART ½ –
  • Dettifoss IT Solutions on CRYPTO: COULD YOU CROWDFUND WITH #WESUCCEED ?

# ADMP FB Widget

Facebook

Leave a Comment Cancel reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post
Next Post

#ADMP ALL TIME USERS COUNT

  • 907685Total reads:

© 2019 All rights reserved.ADMP

About us

ADMP Awards is the first site to promote the top African startups and entrepreneur! Context: Ecosystems startups and incubators in Africa. Purpose: Celebrate the best of African start-ups and pride themselves! Objective: To offer maximum visibility to start-ups and entrepreneurs in Africa - All of Africa (East-West-North-South-White-Black, Diaspora, ..)

Contact us

teamadmp@gmail.com

#ADMP awarded TOP100 STARTUP BLOG by #FEEDSPOT (San Fransisco, USA)!! 🌐🎬🕸️🤔🤣📺--> - Check here

Tweets by TwitterDev