This shows surprising naivety about what is happening in China. To generalise massively, Chinese aren't trying to move money out of China. Instead, they are trying to find any safe store of value, because they don't trust their banks. Chinese are desperate for any way to save money, because the four-grandparent policy (and no pension) means they need money in old age. The optimal solution for them is overseas real es…
This doesn't make sense to me. Bitcoin right now is an incredibly bad long term value store. Right now it's a speculative investment. Either it will succeed and demand for bitcoin will go even higher or it will fail and it will be worth nothing. It's like investing in some risky VC fund. It makes sense for people to have wildly different ideas about potential and risk, but it makes no sense to expect it to just stay…
Bitcoin, like gold, is it's own counterparty. If you own bitcoin, you own it irrevocably unless you choose to give it to someone else.
Combine that with the fact that it is globally accessible, globally transferrable, and incredibly low cost to keep secure and you've got something which disrupts 5000 years of financial history.