The concept of millions of miners mining small amounts at a loss has some merit. I wouldn't mind plugging something into the wall that costs $5/month in electricity and generates $1/month worth of BTC if millions of other people were doing it in order to keep mining distributed. No need for a fancy chip in my phone or car. Devices like the AntRouter but one that can mine on any pool would be ideal.

China is communist.

And they have totalitarian internet censorship.

I would not put my money on China.

I just got this email from Steam (I'm a publisher there!) What do you guys think?
Bitcoin support coming soon!
We are excited to announce that Steam is going to start accepting payments via bitcoin.
We’re using an external payment provider to process bitcoin payments to help partners reach more customers on Steam. Bitcoin is becoming an increasingly popular online payment method in some countries, and we’re enabling a system that insulates partners from risk and volatility while still providing value to the end customer.
You do not need to take any action. If customers choose to pay via bitcoin, they’ll still be charged the price already set in the local currency. Here’s how it works:
The user is charged the local currency price on Steam given their region (eg. £29.99).
The payment processor converts that £29.99 amount into bitcoin based on a daily exchange rate - so the user pays them in bitcoin, and the processor pays us in traditional currency. At no time does Valve receive or hold bitcoin.
There is no need to set a bitcoin price or keep track of bitcoin valuation. The purchase price of your product does not change.
We’re looking forward to the update, and we think it makes Steam an even better place to buy and play games