Bitcoin. The magical internet money is often derided as “worthless” and “made up” by those who forget that all currencies only have value because we believe in them. Perhaps the world’s strongest currency not backed up by guns and ammo, Bitcoin nonetheless remains a controversial invention, as do the many cryptocurrencies that followed in its wake. Recently, the Chinese government has cracked down on operations within the country. With China hosting the world’s largest fraction of Bitcoin mining capability, it’s sent shockwaves through the network and had a huge effect in a multitude of ways. Here’s what’s going down. Chinese…