China cracked down on Bitcoin today. The result, we will see if Bitcoin truly succeeds or not. Will Bitcoin continue to be utilized within China? If so, then expect $10,000 bitcoins. Because it will mean that government can’t stop it.
But if China succeeds, expect the U.S. to likely follow. And the controls be put in place to kill it. $10 Bitcoin.
I for one am not invested in one way or the other, but I am very curious to see how this venture works out over the next few years.
Only one person I know has actively done any bitcoin mining, that’d be Sebastian at PAGunblog, and I’m still rather curious regarding his success.