Why would China not ban bitcoin? How does bitcoin help China in ANY way even if they wanted to use it?
They have 1 billion fucking people and bitcoin doesn't scale to service a small town with one gas station, let alone China. This thread is mostly a giant echo chamber of technically illiterate people, so they don't know Lightning Network can't function in a decentralized manner whatsoever (not that bitcoin itself functions decentralized either). Before he became a scammer and disappeared, people who actually know what they're talking about like Death&Taxes mentioned problems like this but didn't go into any details as to why, and I've expanded on this issue 10x more than he ever did recently:
https://bitcointalk.org/index.php?topic=178336.msg28305541#msg28305541Even if every crypto was heavily centralized and functioned as a digital central bank, it'd still be far more decentralized than traditional CBs are, simple by virtue of being interchangeable instantaneously.