Why would China do that?
I understand one reason is to focus on their goods consumer industry and move away from the service industry to build up a larger infrastructure but it seems like the world right now was competing for this new technology and then USA FinCEN made bitcoin miners a money service business (regulation restricting bitcoin) and now China doesn't want banks and payment processing institutions to deal with bitcoin at all.
What risks does this private non centralized alternative currency strike to larger countries economies? Its too small to compete with the centralized currencies, or is it? It's impact on exchange rates appears to be sustained within it's own rules. SilkRoad was shutdown eliminating a majority of the bad apples and even the senate hearing majority opnions stated cash is the best way to launder money. I'm stumped, it's a taxable asset (or can be), great idea and innovation, even is traceable and not as anonymous as people once thought. Seems like the only concern is volatility, but it's a non fixed alternative currency as opposed to a fixed rate centralized currency so it's going to be more volatile by nature.
I wonder if this was how the internet was viewed in it's beginning stages of public use
