I can't imagine how average Joes [in China] are still brave enough to flow in with pboc's gun on the back?
I don't think that average Joe clients are under any pressure or threat. At most they may have their bank accounts closed if they manage to use them to trade bitcoins. If there will be penalties, they should fall only on card processors, exchanges, brokers etc..
Hm, clearly the money flow is not cut out but it isn't sufficient for why China is taking lead again.
Why China is taking the lead again, even though money flow in is more complicated than other areas?
-Chinese are real bitcoin believers?
-chinese are more greedy?
-chinese whales are special?
What else?
Maybe because China has a population of like 1 billion. Even if a less percent of the Chinese use bitcoin, it is still a greater number than in the west.