I just came across the news that China has banned the use of bitcoin. I'm not really sure what to think of this, there are so many people in china, how is this supposed to be regulated? How could it really be possible to stop a country full of people from using cryptocurrencies. Not to mention, there are millions of foreigners in China that probably use cryptocurrencies and will more than likely not abide by these regulations.
Cryptocurrencies and bitcoin more specifically have become global currencies that will become invulnerable to traditional restrictions. The benefits of digital currencies has started to become evident, sooner or later this realization will cause cryptos to moon.
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