4. Similarly to what they did with Jack Ma and Alibaba, they decide now that the mining system is developed they will simply take full control over it.
Why would they want to control Bitcoin? In the grand scheme of things, Bitcoin doesn't really affect them, if at all. Attacking Bitcoin doesn't really benefit them and would just be a waste of time.5. If CCP is running the miners they are able to run them more efficiently, since they have way larger budget and can afford free electricity and all that.
They also need a huge land space and loads of people transporting and setting up the miners. That is if they acquire ASICs that makes up 51% of the network hashrate.6. At this point CCP is controlling Bitcoin network. What happens? If it is not cost efficient for other countries to setup miners to counterbalance this power dynamic, why would they?
We fork Bitcoin to another algorithm. CCP continues mining SHA256d coins only and we can easily shift to another algorithm. CCP doesn't have any advantage over another mining algorithm and life continues. One things for sure, they won't gain any tangible benefits from that. It's much more likely for pool owners to collude than the CCP intervening.
