Exactly this. This is really one gigantic wealth transfer from the USA to a few semi-Chinese entities, btw.
The 27 year old American accountant who desires to quit his desk job will send $4,000 of his salary (or more) to buy some Chinese-made machines. The 200 or so major shareholders of Bitmain profit instantly.
The accountant barely profits on his transaction. [1]
[1] some will profit more than others depending on length of time holding assets, but statistically someone ultimately holds the bag.
The 27 year old American accountant who desires to quit his desk job will send $4,000 of his salary (or more) to buy some Chinese-made machines. The 200 or so major shareholders of Bitmain profit instantly.
The accountant barely profits on his transaction. [1]
[1] some will profit more than others depending on length of time holding assets, but statistically someone ultimately holds the bag.