China is reversing some of it’s earlier friendly stance on Bitcoin.

This shouldn’t be surprising. Bitcoin has the potential to be massively disruptive to existing global government power structures and China has in the past restricted Facebook, Google, YouTube and other tools.

At the end of the day Bitcoin is really just a series of numbers and math. So regulation is saying “you are not allowed to speak, transmit or write these numbers because we find it a threat to our power”. That seems oppressive, but statists are gonna state.

If governments really understood the power of decentralized money and what it will do….maybe in a year or ten, maybe through Bitcoin or maybe through some other new technology…. if they really understood the true disruptive power that a new means of commerce has then they wouldn’t just ban it, they’d do what governments do best and kill every last one of us using it. If they don’t, this technology or something like it has had it’s time come.

Money, like so many other areas now has technology that replaces the need for centralized force-backed government power in a key area. Politicians should be scared. People should rejoice. Maybe Bitcoin, maybe not, but crypto-currency of some form is here to stay and it will change our world.