They will fail. Nothing will ever stop the Chinese people from speculating / gambling with their money.
That is 100% correct. If the Chinese are not able to buy and trade Bitcoins in China, then they are going to travel to Hong Kong and Macau to do the same. These stupid capital controls never work.
Agree. And that's actually the reason why Chinese central bank shoud think about their policy as now it is only hurt Chinese trading companies and the reason of draining money abroad. So their policy only damage Chinese economics,IMO.