China, Russia, India, and South Africa and Brazil have long ago declared a pact to break up the US Monopoly on money (the petrodollar). Every time you hear of a "BRICS Conference" (Usually reported on RT or in other countries, not typically mentioned in US media) that is their main focus, to promote their currencies to the top and undermine the petrodollar.
This week we've seen examples of China and Russia embracing bitcoin... If those 5 countries all fully embrace it, to the point where their state-run media says it's a viable alternative to gold and paypal, then it really doesn't matter what the US laws say... Bitcoin will beat the USD in every way that counts and be here to stay.
If the Chinese are smart enough to use Bitcoin they should make money like anyone else will. They would like to destroy the US Dollar but it just isn't going to happen. Bitcoin isn't a replacement. Just another tool to diversify and create wealth from nothing. Only the money doesn't just go to the elite it will go to those that have the coins. It might even save the US from a potential collapse.
If China buys up Bitcoin it is only good for us as it will make Bitcoin more scarce quicker. Many other countries world wide (like India) are using it. Let's say you are working in the US and you want to send money half way around the world to your relatives etc.. The cheapest easiest way is Bitcoin.
