China’s crackdown on cryptocurrency mining has now shut down more than 90% of the country’s bitcoin production capacity, after a ban on mining in hydropower-rich Sichuan was put in place over the weekend. Additionally, the central bank moved to close remaining loopholes that allowed “cryptocurrency speculation.”
Crypto is basically what ever you want it to be when you talk with the nut jobs.
One thing is clear it does create wealth out of thin air