Dear Marcin K Cebula,

Thank you for taking the time to read my work and for posting your thoughts on the subject.

While many governments, in particular China have sought to ban Bitcoin and its ilk, there is sufficient data to demonstrate that their efforts have had patchy success.

Today, Bitcoin is still regularly traded in China and facilitates a significant amount of capital flight. The unrest in Hong Kong has only sought to increase Bitcoin’s use as a conduit to secret away capital from the Middle Kingdom.

In China there is a saying,

“Heaven is high and the emperor far away.”

That a vast majority of Bitcoin mining continues to occur within the confines of the Middle Kingdom should reflect just how difficult it is for even China (which has effectively censored the internet) to govern cryptocurrencies.

Yours,

Patrick