Re: If Bitcoin goes past $5000, what will the Chinese government do?
1) Double down and ban anybody talking about Bitcoin, Litecoin in public areas. Offer rewards to anybody who reports a person talking about crypto in private discussion.
2) Organize a small collective of dodgy individuals to release a competing Bitcoin clone, and call it something like Bitcoin Credits, and attempt to take control of Bitcoin via the back door...
3) Throw everybody who visits coinmarketcap.com in jail.
5) Meet with world leaders to discuss this new form of financial terrorism and instigate a coordinated and sophisticated global response.
6) Get home at night and login to LocalBitcoins.com to buy Bitcoin...
2) Organize a small collective of dodgy individuals to release a competing Bitcoin clone, and call it something like Bitcoin Credits, and attempt to take control of Bitcoin via the back door...
3) Throw everybody who visits coinmarketcap.com in jail.
5) Meet with world leaders to discuss this new form of financial terrorism and instigate a coordinated and sophisticated global response.
6) Get home at night and login to LocalBitcoins.com to buy Bitcoin...
If that should happen, in which is not far from happening because looking at how bright the price had shown and the tenacity it has shown I am sure it will get there. What the Chinese will do, they surely have a lot of weapons in their arsenal to unleash on bitcoin and the crypto industry but I dont see them fighting back immediately rather wait till when the whole industry will be settled to come in. I see them attacking using the any options such as
1. Going after mining farms with the thinking that they make bitcoin available either to sell or to ensure transaction are confirmed or not.
2. A massive crackdown on individuals still finding their way to use bitcoin and also might come out to say emphatically they are stopping bitcoin and every thing we have been hearing and acting upon, are merely rumors.