Bitcoin Forum

Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?

Do we have any availible plan to protect the great-BTC-chain?

There are many miners spread all around the world and just as many merchants and bitcoin users. China might dominate

Bitcoin mining, but they are not the only miners/users/merchants. We will take a huge hit if we lost China, but we will also

not go down without them. Asic chip manufacturing will have to move to Silicon Valley, if the Chinese market stops.  ::)

LOL. I don't think that the Chinese would isolate themselves again. They have done it before but when they open the doors China exponential growth was realized. And if such scenario happened, then we can adjust to the situation. We might as well found another country with cheap and abundant supply of electricity taking over the mining from the Chinese. I think a lot of individual would love to put up mining in different continent because right now we are totally dependent of the Chinese mining industry. We will create alternatives to sustain bitcoin ecosystem.

There will be a temporary disruption in the market of course.  But I don't think it would take long for that mining power to move out of China into other countries.

the removal of china would be an extremely positive development for bitcoin apart from short term difficulty adjustment armageddon.

they haven't brought anything positive to bitcoin. they centralised it, pumped and dumped it via their casinos and have contributed nothing to development.

Did not understand what you mean here. If you think that one day those asians can block the internet to the whole world then you are crazy (and i'm curious about the details).
If you mean that they can centralize bitcoin then such threat do not exist atm. To make it more realistic China still have to do huge investments (the more  money invested by non-Chinease miners the more China should invest). If they will loose the internet access before getting majority imho we will only benefit from making bitcoin more decentralized.

That would certainly suck for the Chinese miners, but the rest of the world would pick up the slack, no doubt.  And China is not the entire world, just as the US or any other country isn't.

I wouldn't worry about what any one government might potentially do until it's close to a certainty--and right now, I don't think OP's scenario is anywhere near that.  So don't give up the faith just yet, eh?

The Chinese government will never turn off their internet, too much of their economy depends on it but assuming they did mining difficult would just decrease to whatever hashing power is available outside the country and bitcoin would survive fine. The price might crash a bit in the short term but it wouldn't ruin bitcoin's future.

I don't think Chinese governments will turn off internet, if they turn it off their technology will fall behind and their economic will be affected, if the Chinese government banned Bitcoin and the miner can't work from China then we still have a lot miners from all over the world

Might surely decline the value temporarily but the king BTC will always live on and recover as adoption incrrases

What do you mean by the Chinese government blocking the internet access to the world and what implication does it have for bitcoin,do you think that because some of the big mining farms are running in China means that it will effect bitcoin, ::) if you are not aware of it ,bitcoin is not Chinese ,it is a global currency and no one can block it. :P

Correct, even china has a big contribution in mining of bitcoin still they not hold or can stop bitcoin to progress since now lot of countries are accepting bitcoin and i think all those country has own mining sites to produce bitcoin.
And i think china can not blocked thr whole internet access in the whole world every country has own isp and not depending on china.

If china decided to stop mining and segwit activated with payments not going to miners and through payment hubs instead. Mining would not be profitable and very few new blocks would be rewarded. Very few countries have electrical grids that can supply electricity at a price that would be profitable to 1.) start manufacturing asic chips 2.) setup new bitcoin mining operation 3.) Once running, not drown in electrical costs and forget upgrades. I think another coin would have to rise, but existing bitcoins might be able to survive albeit very slow.

If that will happen, there might be bad and good effects to mining.
But until that day still not yet come, i may not have to think so much negativity in me.
Because we dont know when.

If it happens, then there will be a decrease in the price on the market altcoin.tapi bitcoin remain alive and continue in use by miners and ivestor.

Well it is possible to happen but I don't think it was likely to happen since most of the bitcoin trading was happening on china and bitcoin was already a part of china economy but In case that it happened I don't think bitcoin will stop but yes doing so will cause a great impact to the bitcoin community specially it's price we will never know if how much will it decreased or increased so lets just  hope that it will not happen.

How can you make such decision? Didnt mining procedure relate to bcc same as btc ???

china is explicitly not gonna accept any criticism about what they did, however as long as we can still access to the Chinese website, likely we still have possibility to protect bitcoin from blocking. as bitcoin is decentralized, if to block the whole internet they have to block all the altcoin in circulation around China.

Indeed there is no need to worry about Chinese. No offence but they sure no the consequences of this fact that abondoning mining within china (biggest one) can lead to chaos in their own economy. The reason is simple, people in there already have sat up big rigs with huge amounts of investment. That wouldn't be good impression by the government on the youngest or sponsors.

Indeed, we all know that the Chinese population is scattered in almost all corners of the world, as well as its products and technology, because of the density of the people in their country, migration becomes an option to overcome the problem. Blocking internet access to worldwide? Where do you get this news, I think it is very unlikely, as said by the members above, this will greatly affect the economic and technological developments in china, while their dream is to dominate the economy and technology in the world. Not a few investors who entrust their money to bitcoin, Miner scattered everywhere in China. And the government is unlikely to ignore it all.

You forgot about one thing. What would be the point of the Chinese or any other government banning bitcoin? If ones country banned bitcoin, it would cause a significant amount of impact to the market of the country and also the price of bitcoin. If a country banned bitcoin, heaps of bitcoin will be lost and therefor supply would have decreased, which will mean a surge in market price.

China has the lowest electricity costs and is most profitable for mining, now why would the Chinese government ban bitcoin? They might as well tax it and make some money off of it.

I am confused to say. But remains optimistic that the Chinese government will also not want to lose btc. In china btc is to support their economy.

If the chinese government blocks the entire mining infrastructure in china it would be a problem because the hashrate would go down, but the difficulty would go down too so everything would adjust.

Also it's only a matter of time when the west enters the mining game. Once Intel and AMD and Nvidia enter the mining game with their technology they will beat the shit out of the Bitmain crap and the chinese will finally have competition.

I doubt something like this would occur, as it would cripple the Chinese economy as a ton of business for Chinese factories do go through the internet / EVERYTHING GOES THROUGH THE INTERNET TODAY (Taobao, Alibaba, Aliexpress, ETC for China)

If this did happen, it would make the difficulty much easier for the small miners here in America and other countries where the power is MUCH more expensive. This would then make more and more people join in on the mining train and through sometime, would have Bitcoin stable out without the Chinese miners and buyers/sellers.

We'd be protected without an issue, people could even go back to mining on their GPU's if something of this caliber was to occur -- and we'd probably make some good money out of it.

Yes its confusing though but I dont think Chinese government will ever do this blocked the internet access. As possible this might affect their economy. Bitcoin has been adopted in their country and being used already. I dont think this will happen in the future, maybe they plan to improve the development in terms of bitcoin economy.

How can a single country block the internet access to the whole world no one really controls the internet is it not centralized or regulated by any countries or a single country. If anyone controls the internet controls everything now just bitcoin he will have all unlimited to the entire worlds information even personal informations. That country will be fearsome cause it can expose a countries secret or black mail it and china doesn't have thst kind of power but what they have is 51% hash power to control bitcoin's blockchain and change its whole algorithm.

Why they will do it in the first place I don't really understand. Chinese have made more advances in the mining field than anyone else in the world. Their Silicon Valley is great example of this. If they do shut the internet then their own businesses will shut down. If mining is banned then they may not manufacture the ASIC miners out of fear that government may now shut the manufacturing of hardwares related to bitcoin mining. So that would be bad idea though.

We all know that to use bitcoin need to have internet connection. The online transaction depends on it. But I don't think that China can take the whole internet world.

i think its not be a problem if someday chinese government blocked internet access, i am sure there will be another country to replace chinese position. there will be huge miner supporting bitcoin and make sure bitcoin will stay on the top. but i don't think that chinese government will block the access, because the government know that new technology will give big support for a country to grow and they will not blocked and even they will allow their citizen to use internet in every where.

What I know is that china is the most knowledgeable country on the business and it is impossible for them to do, but even if that happens I think many other countries will replace china in the future :)

And then if the move to the Silicon Valley,all the unexpected,unwanted scene would happen to the bitcoin scene.Commercial vultures will start peaking their beaks into the decentralised cultures.Trump's Associates will use World Bank to put all the money into buying ASIC and start their own mining company which producers their own miners with a secret bitcoin controlling device inside it.
Sorry for my confused lecture.My point is,let China alone dominate the mining scene.

They will develop and improve the system, I'm sure because the Chinese people are not stupid.

If they will block the internet then we will not be able to use our cryptocurrencies so obviously the price will drop  but I don't think they will do that, why on earth they will? They will only create chaos since internet is part of everybody's lives now.

How would they do that? I doubt China will have the opportunity to block this. The second thing. BTC many people keep wallet offline. Only buying and selling will be difficult.

Bitcoin will never be blocked by anyone, there are to many miners and exchanges dealing bitcoin, plus you have to take into consideration all of us bitcoin investors buying and selling and mAking purchases, bitcoin is hear to stay i beleive.

China is the one which has got the majority of miners as well user around, but same time equal number of users were found in the rest of the world. So even if government of china block the connectivity to the rest of the world nothing affects the bitcoin network users who are outside of China.

This worst case scenario can be possible if the world will have the World War 3 happening or a similar conflagration can happen which can affect all of us. By then, everything will come to a halt and our Bitcoin can even mean nothing as there would be no internet and our gadgets can be useless especially if the source of our power can be disrupted.

I am sure that there are a group of people who are thinking of this possibility and they must have a plan -- a contingency plan in case a major disruption of our technological infrastructure can happen. Hope there would still be an effective communication backbone by then.

Yes i agree with you, bitcoins is not depend on Chinese government, because there are no regulator for bitcoins, the growing of bitcoins depend on the ecosystem of bitcoins, bitcoins will keeps alive as long as many people who use, adopt bitcoins around the world. Bitcoins will always survive for long time, even the Chinese government ban bitcoin's usage for its peoples.

Have heard China holding maximum % of mining ratio. What exactly is the electricity cost in China compare to US rates?

The miners would not do it. They would have shoot themselves on the foot that way. Who would pay them back for their hardwares?

You could say that they would be bribed. But seriously. All of them? That does not work like that. Bribery is a brobe of single idividuals in a centralised system. Decentralised system are immune to bribery. Or almost.

You could say that chineese government would order them to do so. That is more viable, but it would be extremely stupid. That government would make itself a lot of enemies, and no government want to do that - believe me.

In a summary your whole argument is based on a xenophobia. You just fear the chineese because they are different, therefore you wrongly assume they are unpredictable. They are as human as you are, therefore you can rationalise their behaviour.

Its a free market so if chinese miners get blocked, then other miners will sprout up. They could even still sell the hardware and just not run it.

Offcourse, it would most probably end Bitcoin. Majority of mining power is in China. Banning China from mining would obviously have a huge and a negative effect on Bitcoin. But Chinese government banning internet on the whole is quite hypothetical. It would affect Chinese economy to a great extent which not government would be aiming for.

If china does such thing,then here will be shift of mining dominance from china to other parts of world.New miners would get a great chance to mine more bitcoins.Mining process would continue.Chinese miners would be the losers.Already,china has lost its dominance in bitcoin trading due to actions taken by PBOC.They are no more able to manipulate bitcoin price.If bitcoin mning also stops in china,then china would be totally out of the bitcoin game.Then we would have to only read in history that once china dominated mining and trading.

There is little to no possibilities of a move like this coming from the Chinese government, they would never want to pull a North Korea on their massive population. Communist governments actually go with the usage of Bitcoin without any hassles.