If I were chinese I would buy the BTC, withdraw, and then sell OTC, since there won't be any other ways for getting BTC for chinese people in the future.
Who is going to buy your BTC? It's not like they can give you a crappy rate and turn around and sell them on the exchanges, can they? We were silly to be so gung how about China in the first place.
Well this is worse case scenario.
And ideally we all would have loved for China to help bitcoin reach new heights. But, I put up a poll just 2 weeks ago, asking what would happen if bitcoin got banned in China. I put up that poll because it just felt wrong to have China so bullish on bitcoin. Its a communist state. China are copiers, not innovators. America is an innovator. That is what we do.
So, worst case scenario bitcoin lives without China now. Long term I think this is just fine.
