lol @ the idea that the Chinese are buying it. Who is buying it in China? Those who can get past the great firewall?
Do you *really* think the government there wants its citizens to be able to traffic in an online currency it cannot utterly control? LMFAO.
Furthermore, the "average joe" in the US doesn't give two shits about an electronic currency they can't do anything with but buy some trash online. They make dollars, they spend dollars, they heat their houses in dollars and they put gas in the cars with dollars. NObody gives a flying fuck through a rolling donut about bitcoin....
....which is why it just crashed today. If there were a lot of investors and wide spread interest it wouldn't crash 20%+ in a day unless there was some huge panic like the .bombs, 9/11 or the housing crisis/liquidity freeze. Instead this is normal course of business for something that'll never catch.