we don't all know that. what we know is when the PBoC published their smear campaign that BTC initially declined. Within 48 hours Japan had then picked up the bulk of China's activity.
from here, india got on board.
clearly china is still driving some of the BTC market, but they aren't the sole driver either.
this 'nerd currency' has largely been propelled by high net worth individuals putting their private cash into the market. wall street still isn't investing in BTC, as an example. the fact wall street has stayed away is one of the main reasons people keep saying BTC will be worth 10K by year end - everyone is expecting the street to get on board soon.
what exactly can be bought with ... rubles? not much in the US, but i can buy rubles and use them to store value or perhaps I'm planning a trip to russia.
you're looking at BTC as a replacement for USD, which many people think will happen or is already happening, however it misses the point.
BTC = place to store value that cannot be directly accessed via any central government. that fact isn't exclusive to BTC but is the main driver (IMO) for crypto currency in general.
nobody trusts their government to keep their hands off their money. hence, BTC and crypto currency in general are gaining popularity as value stores.
... leading to things like the PBoC publishing smear reports about how dangerous BTC is ... cause central banks ARE scared. government are terrified that someone can jump on a plane, land in some other country, and instantly transfer huge sums of money out of that state's economy.
nerd currency ... lol ... is hating on nerds still cool? i guess watching money pass you by is for cool kids. damn those nerds ... and all their money ...