Bitcoin Forum

As what the title says, do we really need to depend on China on cryptocurrency? I say no imho.... Look at Facebook and Google. They are both banned in China, and yet they worth billions. I believe that the US alone could bring bitcoins up and hit $5k above.

Also, I agree with this: https://cointelegraph.com/news/bitcoin-price-is-headed-to-25000-despite-recent-setbacks-researcher-on-cnbc

I just think that this is a great time for us to buy more bitcoins and accumulate. I'm still long on Bitcoins.

What do you guys think ? Any opinions are appreciated.

bitcoin is global and it will always remain global. China, US, .... don't matter and should not matter. most people invest in bitcoin because of that. because it is not controlled by one country, or group,...
at the end of the day bitcoin is still the same decentralized cryptocurrency with the same features and it is still with the same limited small cap. and nothing is going to change that.

additionally China never banned bitcoin and there is so little chance that they even want to do something like that based on what I have seen so far. and like last time they closed their exchanges, people will still continue buying bitcoin through other methods.

Actually No! there's other big countries who adopted well the cryptocurrency and those country could boost up the price of cryptocoins out there. But we can't erase that China has big contribution on this since they are popular but believe me this issue will be silent if days will past and people will recover for China's panic later on these days.

Ofc not!  if its banned in China maybe the time of mining at our basement would be profitable again even the average joe can earn by mining again.

Nah... if Bitcoin loses China it will be put back a few years, but nothing it can't handle in the long run. The world market is big enough without China.


See, China banning Bitcoin mining is one of the worst case scenarios and it would actually improve network decentralization. We'd lose a lot of hashpower, but it wouldn't really matter as there's a lot of old mining rigs just waiting to be re-activated.

No, and the fact that this is a kind of a big FUD how many times i already heard about this China banned bitcoins knowing that china is one of the biggest miners of bitcoins how come it will happen to banned and they're are in latest technologies. 
Many countries also not only china have the right to use bitcoins and even china is oit bitcoins will continue. Just take some dips to get advantage.

And the difficulty will adjust downwards anyway, so all those old mining rigs will easily cope.

China is just shooting itself in the foot. Bitcoin was one of the few areas where they led rather than followed, in teh devlopment of ASICs etc, and they've just gone and trashed their advantage.

China's been a pestilence on Bitcoin. It wouldn't have had the price troughs, centralisation and power struggles if it had stayed a modest player. They've contributed nothing to development. The one time China was removed from the equation it eerily, or rather not eerily at all, went from $1000 to $5000. If the miners go then salvation is complete.

Let them come crawling back in the future once the rest of the world has shown them what's what.

No, because there a lot of country can support the cryptocurrency. Even if China were really to ban bitcoin, people will try to invest in other means specially cryptocurrency is a global trading that cant control by any goverment or country.

no! we dont depends on china. Will China will lose a lot from banning bitcoins .
I have read news of bitcoins that " This isn’t “the end of cryptocurrencies in China”. Rather I think it’s the beginning of a more highly regulated market. " and its chances are a lot about 80% that china will start again. let mi share the link with you guys.
http://www.businessinsider.com/bitcoin-price-chinas-crackdown-wont-kill-cryptocurrencies-2017-9

i think we need to seriously stop thinking about China and x and y. and instead start thinking about how we can change the current market state so that a simple panic can no longer damage the price like this!

so far the exchanges are where price is set and changes with them. and they have small orderbooks. this needs to change. we need more resistance so that price can no longer go up and down like crazy.

if this happens. we may hope for people to stop thinking bitcoin depends on one country and start realizing that a decentralized currency can not belong to or be affected from one country.

No, I don't think so. We are not bitcoin dependent in China. There is somehow an effect whatever they do in their local bitcoin, but it will not crash it. The international bitcoin market recovery is slow, but bitcoin can manage to stand by itself with the help of the international bitcoin community.

no. china thinks that we need them but that's a big no because bitcoin recovering again from the big dump even though chinese sell out their coins they don't deserve to be threaten as special. bitcoin could grow over $20000 soon even without china. China was not the largest country in the world it's just it's so populated but not all people from china is reach and investing on bitcoin.,

Yup! that is right, OP should look at the big recover right now we are really back at $4100 as of now, and that is not because of the help of china, although china made a big part back then in bitcoin gaining the upper hand in it's value we can really see now that the price drop is not permanent and the fear and doubt was over that is why the rising price of bitcoin is with the people that trusting bitcoin more, than in the bad news that have occur.

No, we shouldn't be and I don't want to always depend on them. The price is back at $4k without their help and that is like a slap on them. Also that's a sign that crypto would still become succesfull without them. Would be better if we part ways to a country that only wants is they are the one who should be in control. That is their mentality in anything.

No. We don't NEED to depend on China but it just happen that China is the biggest investor of cyrptocurrency including Bitcoin so obviously losing it will be a big loss for cryptocurrency. But still, especially in Bitcoin, a large community will give a high market demand which will also prevent the value of Bitcoin to fall really hard.

Who is even depending upon China?

There are enough investors out of China that can take the price to the moon. We surely don't need Chinese market at all. Chinese might comprise of one of the biggest part in cryptocurrency world. But that doesn't means that the market is run by them. There are Billions out of China that are the potential market for cryptos. Nothing gonna happen to cryptocurrencies or in particular Bitcoin if China won't be there. An example is already out there of how market recover in a short period after ICO ban by Chinese government and a coming Bitcoin exchange ban. Real investors don't give a damn about China.

Bitcoin is decentralized, it does not depend on any country. Mining is accumulated effort from all the miners all around the world not on China alone. There are bitcoin hodlers all over the world. Even if china bans bitcoin we will survive without them .

China doesnt anything on this world.They might be powerful and a big player but we can really stand without them for sure.Knowing that there are lots of countries left which are rich enough that can able to pump out bitcoins price too but believing that they are not yet considering bitcoin which is really a sad truth on this one.We should not really think of this thing which we would say that all are dependent on China. I would say F*ck em up. haha

Definitely not. Bitcoin, in the first place, is not created to be monopolized by one country and it is not created for the sole use of China. Honestly, I'm relieved that they banned (regulated) it in their country. Our community doesn't need a country that's always on the move hoping to centralize the distribution of it. Bitcoin will move forward with or without China. There will be some cons about it but the pros heavily outweigh them.

Like you, I'm still long when it comes to price of BTC. The dip that we experienced last weekend is just, in my own opinion, a correction that is badly needed by BTC so that we can navigate the $5k area and beyond.

of course, the Chinese very much broke the firewood and this fall many afloat. But the fact is that this is the only opportunity for today to buy Bitcoin at a fairly low price which went down to $ 2900

I don't think we should make ourself dependent upon the china because already many strange things i am seeing in the china that are indicating that anything that we can't expect may happen .
Here Google and Facebook like things are better example to understand that how the china can make descion about the bitcoin and ICOs like things over the exchange .
Here instead to think about the negative factor we should use the opportunity that we have currently with the down in the price due to news of exchange ban in china and pending of the decision for the one month .
Currently the price of the bitcoin is below of the 4000$ , so why not to make buy now and sell after 1-2 weeks because we know exactly very well that price will surely increase easily because in the future Price will only increase  , so make investment today and make ownself free from all types of the loss because profit will be at the end .

I really like the statement about how bitcoin value fluctuates with blockchain technology too. A lot of people overlook this and it's probable (I haven't checked the numbers myself yet) that blockchain technology usage is what pushes the price of Bitcoin the most soon. As more companies adopt the tech, BTC will go up.

As for the problems with China, I think that the problem will soon be resolved and all functions of the Chinese users will be assumed by Japan. The main thing is that the cat should stabilize and we see the new maximum prices for Bitcoin.

OK mate let me put it this way with or without China cryptocurrencies still have billions of people to attract, not just ordinary people but there are some

Governments in need of decentralized banking system, countries like Iran and North Korea with dozens of other countries could really use Bitcoin to feed

Their people, bypassing sanctions, how is the world supposed to ban the entire internet? not even considering if something like a satellite could be up

There orbiting the earth to provide synchronization for the nodes only way would be to shoot it down which would cause an international crisis if they

Ever use missiles to target satellites other countries such as Russia might react with retaliation if the debris damage any of theirs. my point is, not only

China but no other country is keeping Bitcoin alive, people do.

Exactly, impact not only china supporting bitcoin there a still more large countries behind this and there is nothing to be worried if china will stay away from bitcoin. Of course, we struggle big crisis at first but it would back in along run. But it is impossible that china will leave bitcoin because probably they earned more shares with that.

Despite being a powerful country I think it is their great lose on banning Bitcoin or any other cryptocurrency. I mean they're even entitled as great investors since Chinese people are known for their attitude of being business minded. Banning this great opportunity will significantly cause them a fortune (sarcastically). Although losing a country can disrupt the value of Bitcoin as it was mentioned but lets not panic about it since eventually we can recover those as cryptocurrencies will reshape the economy of this world.

Their just showing off, they just want attention, that they want to prove to other countries that they wouldn't need this kind of innovation because they can be a great country without it.

We all know that China is a big player in the cryptocurrency community but depending on them is a big no to me. Though it has an impact on the price due to the banning of Bitcoin in that country it does not mean that without them the price will totally fall because Bitcoin is not only for one country but for all. Majority of countries in Asia is using Bitcoin and accepting it as new payment system or even an investment. I don't think one or even five countries banning Bitcoin can make the price crash into like zero because like for example there are 100 countries using Bitcoin 95 of it are legally accepting Bitcoin and only 5 are not. Therefore their actions of banning Bitcoin does an advantage to us or it will lead to success for investors and enthusiasts because of buying on price dips.

It was a big mistake when the Chinese began to dominate the market bitcoin mining. Such actions, bitcoin was really at stake. It certainly can't stop bitcoin, but some difficulties will create. How many users have lost their money because of the landfill? I hope these mistakes will be considered.

china does have the largest population in the world and currently the number of bitcoin users in China is very much. but when we together use bitcoin then we do not have to wait for china. let china have its own path. the important thing is we can use bitcoin and we can also make a positive development for bitcoin. because more and more use bitcoin then we will also get the results and benefits are satisfactory.

Its just a manpower only buddy. If we guys ignore how we all world countries to the North Korea. Likewise we can do that in bitcoin for China. Then non of the Chinese will take power in bitcoin in future also. Apart from china there are many countries to adopting bitcoin recent days. Throw any IP hitting from China out of the forum and any bitcoin related sites. We have warn them. They should not do here.