China: This is what happens when Government gets involved.

A lot of people feel like the sky is falling right now. We all know that Blockchain and cryptocurrency can solve a lot of world problems. It will make transactions faster, and can eliminate the needs for lawyers in contracts through smart contracts. Decentralized applications are where we are going, it's only a matter of time. The market will rebound, and do so in a big way, but, this is what happens when Government gets involved and this is why we need decentralized applications. Government control is hurting the world in a big way. China is afraid, afraid that this technology is SO big that if they didn't try and stop it now, they never could. Cryptocurrency has been tested before, but this is the first significant government roadblock. How will we be moving forward from here? I'm not going to worry about it because crypto is here to stay.