Bitcoin's early days were rife with scams, criminal activities, and underground markets, existing in a counterculture void of rules and government oversight. Entrepreneurs and VCs later intervened, leading to institutionalization and regulation, changing the once anarchic landscape.
The rise of mass adoption brought lawmen into Bitcoin, erasing the anti-establishment ideology and replacing it with dogma. The dream of an underground economy faded as markets became regulated, shifting towards mainstream acceptance.
China's Bitcoin empire faced a decline after the block size war in 2017. Bitmain and associates suffered a defeat, impacting their financial standings. Looking east, a new frontier resembling Bitcoin's early chaotic days emerges, offering a glimpse of the past's Wild West allure.
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