Seriously? You think the Average Wang that wants or needs to circumvent capital controls and other financial transaction restrictions as decreed by a small cabal of Communist politicians is “corrupt” when it is prudent for long-term financial safety? Zerohedge is hardly an authoritative or factual source of anything other than doom porn propaganda.
Bitcoin has first mover advantage and the network effect. Nothing else will come close ever again unless the Bitcoin consensus refuses to adopt blockchain enhancements and improvements to thorny growing issues (which can be a problem with Chinese pools owning the majority of the mining power as they’re not necessarily interested in reform vs just mining for profit). Just creating your own cryptocurrency doesn’t give it value anymore than “printing money” does. It has to be backed by something other than limited supply and electrical energy. There’s literally hundreds of me too cryptocurrencies out there with little to no value that no one really cares about.
We’ll have to see what happens after China regulates Bitcoin because the cat is out of the bag. People are dumping the yuan en masse and Trump may start a trade war and depress it further.