China can export "electricity" to US and there is nothing Trump can do to prevent or tax it

Discussion in 'Economy' started by grbb, Aug 22, 2018.

  1. grbb
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    grbb VIP Member

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    Really?

    You kidding.

    What? Build cable to US?

    Uhuk uhu

    Of course not.

    1st step:Convert electricity to bitcoin. Chinese are better than US in this regard. Major bitcoin asic manufacturers, GPU manufacturers are in China.
    2nd step: "Export" btc to US. There is absolutely NOTHING US government can do to stop it. That is why bitcoin is awesome. There is NOTHING US government can do.
    3rd step: Send dollars to China. Okay there are things US can do to prevent this. But well, you know. The last step is optional. Bitcoin is as good as money. The chinese can buy anything they want with it and pay with bitcoin. So 2nd and 3rd step is really optional.

    Alas. The chinks shot themselves in the foot. Chinese government ban bitcoin again and again.

    Actually, bitcoin can be used as a weapon on trade war. Any country that is hit by trade war can just get cheap energy, build bitcoin and then tada, live. That would greatly blunt effect of any trade war.

    Yes, bitcoin price is unstable. But if they use bitcoin to import stuff right away, it's not a problem.
     
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  2. EdwardBaiamonte
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    EdwardBaiamonte Platinum Member

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    you can pay for imports or exports with bitcoin but this does not mean it is legal to do so or that it is legal to physically import or export goods regardless of how they are paid for. Do you understand?
     
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  3. AZGAL
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    AZGAL Gold Member

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    thank you for this interesting thread
     
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  4. eagle1462010
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    eagle1462010 Platinum Member

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    Ok...........that was weird.................

    bitcoin to electricity.........

    Okie dokey
     
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  5. AZGAL
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    AZGAL Gold Member

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    At least it is a fresh topic!
     
  6. eagle1462010
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    eagle1462010 Platinum Member

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    You have a point there.........
     
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  7. McRocket
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    McRocket VIP Member

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    I hate Trump's tariffs...but there are LOTS of things the U.S. government can do to stop Bitcoin. For one, they can make it illegal. So anyone holding it could be prosecuted.
    Plus, you could not buy anything in America with it (except on the black market - which would make the product FAR more expensive) because it is not legal tender.

    The day the government makes Bitcoin illegal...that is the same day that every medium/major American business ends ALL transactions using Bitcoin.
     
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  8. EdwardBaiamonte
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    EdwardBaiamonte Platinum Member

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    There is no reason to hate trumps tariffs until you see the final result and certainly there is no reason to restrict our freedom by making bitcoin is legal.
     
  9. McRocket
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    McRocket VIP Member

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    There are TONS of reasons to hate the tariffs. Like, NEVER - to my knowledge - have major tariffs to numerous, major/medium countries (done strictly for economic reasons) worked out for the originating country. Please show me an example in history when they have?
    Here is the last time America tried them: Smoot–Hawley Tariff Act - Wikipedia

    Also, Wall Street and the U.S. Chamber of Commerce (who represent trillions of dollars) hate them as well because they also know that they never work.

    Wall Street hates Trump’s trade threats as much as it loves his tax cut - The Boston Globe

    Tariffs are the Wrong Approach

    Are you seriously suggesting that a man (Trump) who has multiple bankruptcies/failed businesses to his credit knows more than most of Wall Street and the U.S. Chamber of Commerce about tariffs?
     
    Last edited: Aug 27, 2018
  10. EdwardBaiamonte
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    EdwardBaiamonte Platinum Member

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    1)Trump is a free trader and his tarrifs are designed to promote free trade. Smooth Holly was a terrrif not designed to promote free trade but to protect American industries. Do you understand it’s a big difference?
     
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