Watching this Youtuber for a couple of hours will help you understand why the Chinese keep screwing with BTC

After another day when China took a huge steaming s*** all over the crypto markets, some of you might be wondering why they've been acting this way and what are they up to.

I seriously doubt China will outright ban cryptocurrencies. At least not fully and forever. It's just plain old FUD (fear, uncertainty and doubt). This is done to manipulate the price to allow someone (or a group of well-connected individuals) to buy cheap.

Now you may be wondering, would someone really be so short-sighted and greedy that they would risk killing off blockchain technology just to make a fast buck? The answer's: "yes".

China is a fast-developing nation but it's still a very corrupt country, it's actually a bizarre mix of 1st and 3rd-world nations. Despite it's people being kind and hospitable at first glance, they seem to have a very selfish culture when it comes to making money.

Of course it's a generalisation and not everyone in China is this way but this is one of the biggest culture shocks for westerners how scammy and corrupt the country is. We have our corruption in the west of course, but it's usually less overt and more sophisticated. We usually wouldn't screw over people with whom we have business relationships to make a fast buck, burning all bridges for short-term gain. In China that's the norm.

One of my favourite Youtubers is SerpentZA. He's a British South African who emigrated to China over a decade ago. He loves the country but isn't afraid to point out the many flaws of Chinese culture and doesn't hold back when it comes to laying them bare.

Watching him gives you a much deeper understanding of Chinese culture than a holiday would, he's also quite entertaining to watch. It's really a country and society that was very broken under Mao Zedong, where life is as cheap as the labour is, greed is good, corruption is rife and it still has a lot of healing left to do.

One of the most shocking things for me was how little people cared about the upkeep of communal areas in a country that's still nominally Communist.

Could China really ban cryptos? Maybe they actually will, but in China's present form, the rest of the world might be better off if they did.