Chinese Economics Thread

[Team Blue]

1. Crypto is stupid
2. People trying to mine BTC *in China* are possibly even dumber

 

[krautmeister]

1. Crypto is stupid
2. People trying to mine BTC *in China* are possibly even dumber

Fyi, it might be stupid to mine crypto in China but this has reduced the total global mining hashrate and made it way more profitable to mine crypto despite the price drop.

 

[Tyler]

Fyi, it might be stupid to mine crypto in China but this has reduced the total global mining hashrate and made it way more profitable to mine crypto despite the price drop.

Which cpu and gpu do you use for mining bitcoin?

 

[krautmeister]

Which cpu and gpu do you use for mining bitcoin?

Use a basement full of dedicated ASICS from Bitmain. The original Antminer S9s. I was actually going to pull the plug on them when Bitcoin was still under $20000 but now, it's a freaking money printing machine! I am trying to order some newer gear but the shipping delay is now all the way past October.

 

[KYli]

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[horse]

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In the article it states at the end

Right now, export growth in China is between 20% to 40% a month, he said. If the factories in India and Vietnam return to production very soon, China's exports would be expected to slow down in the second half of the year as companies move their manufacturing to those two countries.

"But if supply chain (in India and Vietnam) is disrupted for a long time, we could see this kind of 20%, 30% export growth (in China) to continue into next year," Zhang said.

Got to wonder how close it the Chinese economy at full capacity, such as lack of workers and factories running at maximum?

Almost sounds like another economic boom.

Other places in the world, lock downs are in effect, work places shuttered, the borders are closed.

 

[Tam]

Oh My. I hope China does not JACK UP the prices of all the products sold around the world.

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China as a government policy doesn't but the dynamics of capitalism and economics with regards to the legions of private Chinese enterprises are another matter. Rising raw material prices, rising freight costs and the weakening US dollar are going to put pressure on prices along with competing for a finite pool of labor. You got an unfortunate trifecta of forces pushing prices up.

China holds so much freaking US dollars, that the US dollar is the second Chinese currency. The US callously printing tons of it is going to devalue Chinese holdings of US dollar, so they are likely going to spend it on assets and commodities, just as just in time inventories are abandoned, and material inventories are being held up to six month levels.

 

[Dolcevita]

China as a government policy doesn't but the dynamics of capitalism and economics with regards to the legions of private Chinese enterprises are another matter. Rising raw material prices, rising freight costs and the weakening US dollar are going to put pressure on prices along with competing for a finite pool of labor. You got an unfortunate trifecta of forces pushing prices up.

You forgot to add high demand for China made goods and low supply from other countries.

 

[Tam]

You forgot to add high demand for China made goods and low supply from other countries.

Yes, as manufacturing has broken down in other countries, like India for example.

 

[voyager1]

China as a government policy doesn't but the dynamics of capitalism and economics with regards to the legions of private Chinese enterprises are another matter. Rising raw material prices, rising freight costs and the weakening US dollar are going to put pressure on prices along with competing for a finite pool of labor. You got an unfortunate trifecta of forces pushing prices up.

China holds so much freaking US dollars, that the US dollar is the second Chinese currency. The US callously printing tons of it is going to devalue Chinese holdings of US dollar, so they are likely going to spend it on assets and commodities, just as just in time inventories are abandoned, and material inventories are being held up to six month levels.

And China is still hoarding US dollars and buying US bonds. Schizophrenic decisions lol

Imagine holding a weakening curreny where you are getting sanctioned from using it like every month

Advanced tech is getting banned pience by pience, chips getting banned etc

Can you explain why China is increasing its US holdings..

Digital Yuan cant come fast enough. Dollar is going for the toilet from China's perspective