The Renminbi is rapidly growing as an international currency. It recently came into the top 8 or 10 of most used trade currencies. The government of China's priority lies in promoting the renminbi not bitcoin. Bitcoin is facilitating capital flight from China. Why would they allow it? You are going to see a clampdown on bitcoin in all developing countries.
The only countries that stand to benefit from bitcoin are, ironically, financial centers. That's right! Places where bankers rule is where bitcoin is being welcomed the most. Consider Switzerland, Singapore and Germany. These countries are adopting bitcoin because they see it as a threat and it is essential for their survival that they play along. The only exception to this are the USA, because they want to preserve the role of the dollar, and the UK. I imagine the British are just following the Americans in this. Got to preserve that special relationship!
The only countries that stand to benefit from bitcoin are, ironically, financial centers. That's right! Places where bankers rule is where bitcoin is being welcomed the most. Consider Switzerland, Singapore and Germany. These countries are adopting bitcoin because they see it as a threat and it is essential for their survival that they play along. The only exception to this are the USA, because they want to preserve the role of the dollar, and the UK. I imagine the British are just following the Americans in this. Got to preserve that special relationship!
Makes sense.
