Here is the reason why the Chinese Communist Party is not stopping bitcoin.

[gabriella]

it is becoming widely known, especially among mainland chinese themselves, china will not able to advance past a manufacturing-based economy, due to complete lack of laws, moral, trust and copyrights.

that is why every one of the 1.3 billion chinese are doing everything they can to get foreign passports and move all their family and all their wealth out of china. this is especially apparent in all of china's politicans and rich people.

many finance professionals have come to realize china's economic growth will soon come to hit a wall, losing manufacturing strength to other cheap labor countries yet unable to advance to model based on exchange of services and knowledge.

the chinese communist party, with no legitimacy to rule china, fear above all else any deviation from its current grip - this is widely known and also very true.

therefore the ccp would really want to stop bitcoin, which is going to subvert the state's supremacy and control, right?

right, so why is the ccp not doing anything?

because, the ccp is a humongous millions-plus members dinosour bureaucracy, stuck in its old visions of the world circa u.s.s.r. 1980's.

for it to actually know about bitcoin, understand bitcoin, and actually do something about bitcoin is, my friend, like telling a 1980's kgb officer about twitter and how he should stop it because it would cause uprisings like the arab spring.

that is the reason the chinese communist party is currently not doing anything to stop chinese people from buying bitcoins. and it won't change for quite some time.

[BitPirate]

Gabriella, you talk in very broad brush strokes. You should check yourself when you find yourself saying ridiculous things like "every one of the 1.3 billion", and "complete lack of morals".

The main thrust of your argument, after the above hubris, was that basically Bitcoin is too small right now for the government to care about.

On that score, you're right.

I'd also advise anyone against the knee-jerk reaction that anything new must be regulated. Cryptocurrencies are trust-agnostic... they aren't inherently anti-government.

Or put it another way. We think cryptocurrencies are great because we don't need to trust a central authority. Governments might think cryptocurrencies are great because they don't need to trust the people.

[wormbog]

If the Party is so ignorant of bitcoin, why are they running pro-bitcoin programs on state TV?

Here's my theory: for decades China has sought to use their enormous population and cheap labor to become the world's top superpower. Knowing that the US military cannot be defeated, they sought instead to buy up US debt and use it as leverage to bring America to heel.

Now they have realized that the US is perfectly happy to keep printing money and devaluing the debt through inflation. This can continue until hyperinflation makes the dollar worthless. But at that point, the US will still have the huge military and natural resources to keep control while we introduce a new currency and start the cycle again.

Both the US and Chinese governments can see that bitcoin is poised to fundamentally change monetary systems around the world. China knows that the US already has a huge head start in acquiring a large percentage of the world's bitcoin. So they've decided to encourage their citizens to start buying. Instead of buying debt that can be inflated away to nothing, every bitcoin purchased represents a fixed percentage of the new world economy, and no-one can devalue it.

As long as the major world governments can discretely collect a suitable percentage of the world's bitcoin they will eventually accept it as the new global reserve currency, replacing the dollar. With a single global currency in place, national borders will begin to disappear and our transition to a single world government will be underway.

You might ask: why doesn't the US, China, etc. just create their own version of bitcoin? It's because the rest of the world would never accept it, opting instead to issue their own national cryptocurrencies. The world currency has to be completely independent from any existing company or nation.

If this scenario comes to pass, bitcoin will be used primarily for nations to trade with each other. Other systems will be created to handle the huge volume of small transactions between individuals. And each bitcoin will be worth millions of today's dollars.

[nanobrain]

Cryptocurrencies are trust-agnostic... they aren't inherently anti-government.

A lovely way of putting it.  However, ALL governments have their own self-interest at heart...let us never forget that.

[nanobrain]

As long as the major world governments can discretely collect a suitable percentage of the world's bitcoin they will eventually accept it as the new global reserve currency, replacing the dollar. With a single global currency in place, national borders will begin to disappear and our transition to a single world government will be underway.

A lovely thought but you only have to look at the 'European experiment' to see that this sort of centralisation is fraught with political, military and economic issues. 

The fact that the Chinese govt has used nationalism (cf numerous commentaries and theses) as a propaganda tool in the last twenty years to maintain political control suggests to me there won't be any new world order anytime soon. The only thing that will bring about a new world order will be the same as throughout history - major war or major catastrophe - in which case food/seed/skills will be the unit of currency rather than gold/fiat/crypto.

[Zangelbert Bingledack]

Bitcoin won't bring about NWO, anymore than gold did.