What do you mean bullshit propoganda? China -- the country of 1 billion + and second largest economy in the world -- essentially banned bitcoin today. I'd say that's bad news... maybe the worst single one day event in the history of bitcoin, and it's really unlikely that we're going to rise back to the one thousand range anytime soon. It's a big blow, and the bitcoin nutters are going to have to really try their hardest this time to put any kind of positive spin on it. They'll try though.
By bullshit propaganda I am referring to the "drugs, anonymous assasins, evil hackers" stuff.
The China issue is not so straightforward. The world is a big place. There is room for massive growth in America alone. Did you really believe that Bitcoin would become the currency of the entire World?
Bitcoin also grew plenty in the early days, without the whole "China" thing. Most of the logarithmic percentage graph shows progress in the days pre-China mania.
Of course it is an obstacle, but at this stage of early growth it is not at all as bad as it may seem when phrased as "The second-largest economy of the world pulls out of Bitcoin!!"
