Despite the US constant vilification of China, they seek to have just as much control and surveillance over you. The ruling class would LOVE if they could control a population the way Beijing does. We already live in a surveillance state. We can adress it or let it get worse but both parties allow and encourage these policies.
Every time the price spikes I get the feeling its large holders cashing out while they can and the liquid from newcomers is available. Which would make it mostly a scam, kinda like the stock market but even more shallow somehow, as if the stock market wasn’t unrelated enough to actual production and very esoteric.