I'm a Chinese, in my state, I can't see youtube, fb, twitter. And before just two days, the gov just banned some American tv series including "the big bang theory" that played on a top video website. (NASDAQ:SOHU) Movies, tv ,website or even videogames need to be censored by the gov.
Now, my complain on a foreign website maybe seen as a crime. If our Internet censorship police see this thread may arrest me.But I will still say about what happened in China:
BTC in China's situation showed that how terrible people lived in that places which have no human right is. In the past, like communist soviet or DPRK now, people are not allowed to have private property and no human right. Now,after the communist empire down, people in China, which can have a limited freedom on property rights. but no any political right.
From the view of foreigners, China may have a rapid growth in economics, have tall buildings, cities, cars, and have internet, website, even bitcoins, And we traded btcs on international markets.
But, examine carefully the details about the property right in China(or such a fucking country like russia), you find that there is no law to protect your property. For example, people can NOT OWN LAND in China, if you buy land or house, it means, the gov rent you the land for 70 years, and your pay is the rent. And, if it is necessary, gov can get the land back for "public reasons"at any time.
And the "Chinese yuan" is also a joke. The inflation of CNY is terrible, I take a taxi from a price 10CNY start at two years ago, than 11 one year ago, than 13 half year before. How much CNY is new issued every year is decided by the committee of communist party(NOT CENTRAL BANK), and the "Monetary Policy” is also made by communist committee. They got a average 2-digit M2 growth rate every year, like now, 2014 is about 13%, and the number is about, which have not precise numbers.
So people have to escape from their fiat, buy houses,(although have a limited land right),gold , and get the money out of china. Whe the gov find BTC, they were scared and furious , want to ban it immediately. It fucked up the capital control and can have a property right without gov.
But One of the officials said will not ban btc before, so they can't eat their speak in a week( but often eat after month),and have to give ban secretly to banks.
But, After China ban , What do you think about btc without China? Is btc get doomed without the Chinese money pumped in?
BTC is not dependent on China. It has got free movement in multiple countries like Cyprus, Germany. China money was just a pumping factor and so much CNY has now got involved in BTC, it has become a problem for China govt, NOT bitcoin. For you and those who share the similar feelings as of you, push your CNY into BTC China, Huobi or other chinese exchanges, get BTC in your wallet, apply for EU visa and move to Germany or Cyprus. Have a nice Life