[2014-01-14] “Bubble” or “Ponzi scheme”: Chinese media keep bashing Bitcoin

[oakpacific]

...
Personally I think if you can enjoy life and live in a place that has good infrastructure and services then it is a pretty good thing no matter what the supposed political system is.

Amen. Wealth seems to fix everything. Maybe it makes governments more confident and less fearful when they are on top? When I was a kid China was more like North Korea is today. Now it has vestiges of the "Mao suit" culture, but is much more of a normal nation.

Let's hope it can fix the political system itself as well. With enough economic incentives brought by Bitcoin, people may finally set down to do the work.

[Cryddit]

Within the last generation China has shifted from Communism (which they called Socialism) to Mercantilism (which they're calling Capitalism). 

Mercantilist governments actively support established businesses, frequently forbidding competition and subsidizing exports while penalizing imports.  Often they develop "captive markets" if possible in controlled territories where people have no choice except to buy from their own favorite merchants.

Capitalist governments, at least in theory, allow and promote open competition between businesses and tend to break up rather than enforce monopolies at least when functioning well.

[cr1776]

“Bubble” or “Ponzi scheme”: Chinese media keep bashing Bitcoin
http://kculshare.com/2014/01/bubble-or-ponzi-scheme-chinese-media-keep-bashing-bitcoin

What do you think?

I think they are fearful that the population will catch on and bitcoin is an escape valve for their currency controls. Authoritarians of all stripes do not like freedom and want to control everyone else, bitcoin helps people who want to be free of the totalitarians, socialists, communists, fascists/crony-capitalists and the rest of their ilk - and they are fearful.