They're looking for ways to stay in cryptocurrency, even if it means testing their luck in lesser-known parts of the ecosystem that may or may not incur the wrath of Beijing. ; While plenty of miners have fled China, these cryptocurrency diehards are betting they can continue to thrive under Communist Party oversight by shifting into lesser-known tokens and decentralized storage technologies with names like Filecoin, Swarm, Silicoin and Chia, according to The Japan Times. It's a high-risk wager at a time when Xi Jinping's government is ramping up scrutiny of energy-intensive industries and anything that could pose a risk to financial stability. But attendees of the event in Chengdu, China, were clear about why they turned up in the middle of a government crackdown on Bitcoin mining. Filecoin is a grey area business that hasn't yet caught regulators' attention, said Tom, who works for a Shanghai-based firm that makes mining machines. Despite the steady drumbeat of headlines on China's cryptocurrency crackdown, the mood at the Chengdu Marriott Hotel Financial Center was generally upbeat. Like many of the people interviewed for this story, he asked not to use his full name given the sensitivity of the topic in China. (news.financializer.com).
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