well we are screwed. due to the Chinese currency manipulation if an American can mine bitcoins for a profit at $100 a bitcoin, a Chinese can mine bitcoins for a profit at $50 a bitcoin assuming he pays the same price for electricity as the American. this is probably exaggerated but you get my point. considering we can mine bitcoins for a profit, a Chinese can become rich mining these shits right now. considering there are over a billion Chinese they have the potential to cause the difficulty to skyrocket and drive profitability into the ground if enough people start getting into bitcoin. this could force everyone else out of the market as far as mining goes due to the currency manipulation.
notice the difference in economic policy between the US and China? the Chinese see a brand new industry and growth market in digital currencies. they saw that western countries are cornering the market so they ran this story on state run TV to get the Chinese people to start adopting bitcoin. while western governments say nothing but bad things about bitcoin and try to drive people away from it. they see it as a threat to the old banks and try to destroy it. crony capitalism at its finest. while the evil rich people who control China see the economics of it, it's a new booming industry and a growth market. they want China to control it and corner the market on it. this is exactly why China's economy is growing so rapidly and quickly becoming the largest economy in the world and why western economies are either stagnant or shrinking. similar to solar panels, the Chinese see it as a growth market and are trying to have China corner the market on it. while in America they see solar power as a threat to the old coal industry and try to destroy it. while America is only concerned with protecting the old banking and coal industries, which destroys the economy. China is only concerned with economic growth. which is better? if earth continues on its current path and no major events disrupt civilization then China will definitely become the most powerful nation in the world in the coming decades. the country with the largest economy is always the most powerful country in the world and China will have the largest economy in the world soon. i would say advantage: China.
as America weakens under corruption and crony capitalism (fascism?), China strengthens under it's form of communism.
BTW i'm not saying that the Chinese government is good, it's not, it's simply better for gaining power. notice how i didn't say America is a democracy, i think it's actually fascist. real democracy and direct democracy is good for gaining economic power too and better than what the Chinese government calls communism.
then again i could be wrong and they simply want to use bitcoin as a weapon against the USD.