Bitcoin Forum

China has brought nothing but problems and great shame to Bitcoin.  What more can we do to protect Bitcoin further from the ills of China and their bad behaviors?  It is good that their exchanges are all now going to be shut completely.  It is good that we will break up their mining monopolies which ruined decentralization as intended by Satoshi.  But are are the further steps we can take to get rid of Chinese completely?

Bitcoin can survive without china. we all know that.

Me and most people just want the whole chinese FUD to end. Just release an official statement already and get it over with, for the good or the bad. Bitcoin and crypto will survive.

Yes China might havestruckbitcoina big blow by closing its doors on them and also by doing nothing in the conflict here in the east while also subtly invading other countries terrirtories. However it is still a vital place to sell and buy. China has an economy that can blossom anytime and more investors are going to it ad they see that it has potential

protecting bitcoin isn't enough. my suggestion is that you can pay a visit to each executives now that their government is not allowing them to travel. just do whatever you want. its up to you.

send you some btc for your expenses. i'll just be here waiting for price to once again dip. maybe the rest of us also want to do this unlike you.

If bitcoin is used by more and more people in more and more different countries this will dilute chinas influence and we will rely less and less on them

If you're serious that's an easy one man.  PoW algo change, make all their gear obsolete.  Give power back to the people, back to GPU mining.  There are enough out there to secure the chain.  

But it may not be necessary - their own govt may shut them down.

They have a massive oversupply of energy - it will only get worse.

"China has brought nothing but problems and great shame to Bitcoin."

Are you sure about that, bud?

Because I am sure you also know China is the largest miner of Bitcoin worldwide. They have extremely cheap electricity and one Chinese guy controls a huge percent of the global hashing power.

That is quite true. There still a little buzz going on about the CHINA FUD. Since the ban was made on ICOs Bitcoin's price had dropped hugely but then Bitcoin recovered its price very quickly. This proves that no one can control bitcoin and it will keep rising no matter how many obstacles it has to face.
I don't say that the China's decision to ban ICOs was wrong because I completely support it because the decision was made so that people would not be scammed by fund raisers who raise fund and run away with all the money. The ban is temporary as they want to regulate ICOs which will provide better ICOs to rise up in future.

I think that China did also good (the price wouldn't get to 5k so quick without China, and high price means news and awareness increase). They tried to manipulate the markets more than once, but they are not the only ones in the boat, JP Morgan is another name that just came out without thinking much. BU heavy core may be another guess.


You are right and you are wrong. Why GPU? CPU mining WTG! Let's get any average Joe back to Bitcoin mining. It could be interesting. :)
Just this means the the cost of creating Bitcoin will become much smaller and may affect the quotations for Bitcoin. And we would be quite disappointed to see Bitcoin back to under 100$, don't we?

Why you think we should get China out of the market ? As more people using bitcoin the stronger it is, is all about the goverments more than the country because country means people who live in, not the goverment which might be a dictature.

then what is stopping them from building GPU farms and we end up the same place we are now?
and what is stopping them from changing the ASIC machines to match the new PoW algorithm to create new efficient ASICs to mine the new thing?

nothing, that's what.
the result will be a useless hard fork to disrupt things temporarily before we end up where we started after some time.

No one stop bitcoin because bitcoin fundamentals says no authority or country can control bitcoin if it china or any other country there will be small impact in short time then it will rise . Nobody can stop bitcoin growth .

"China has brought nothing but problems and great shame to Bitcoin."

You specifically meant the Chinese government right? Let's not forget that Bitcoin, Monero and other cryptocurrencies had a significant rise on price just because the Chinese people were buying. It just shows that a good number of Chinese people are interested in blockchain technology as well. Attacking and wanting to get rid of China, the country itself is quite selfish in my opinion.

If only a lot of people do their own research first and confirm what they're reading and not just automatically panic when they read some negative news about China.

I think we should always use bitcoin. from now on we have to buy some altcoin to invest in so bitcoin is always there and will make bitcoin prices go up. however bitcoin will not be destroyed by China.

It can be truly concidered as a threat to the whole network. Bitcoin becomes centralized in China and in some way this China ban even helps to solve this problem before it is not woo late. As we see their government have a stong abtitions to have as mutch control as they can. Just imagine what can happen if they release their ambitions when bitcoin is centralized in China. I'm sure that it could harm everyone even more than now.

My initial reaction after hearing about the mining ban rumors was, "how ironic that the Chinese government will make Bitcoin more decentralized." But then I got to thinking. Maybe this is less about prohibiting Bitcoin and more about consolidating the industry, or even nationalizing it?

Is it possible that the Chinese government takes us all by surprise and becomes the first nation-state to back Bitcoin mining operations? I know, it sounds like a typically crazy bitcoiner conspiracy theory. But if it were true, it could end up making Bitcoin mainstream very quickly.

that's what they got as an advantage and we cant deny the fact that if any country can compete to that most of them will go and really make it a business, but
as of now china itself have the lowest and good whether condition to survive mining, if there government really serious taking them down it will be felt for
a while then be forgotten.

China is just acting like a troll, and it is nice that they are now step by step moving theirselves away from Bitcoin Community and Bitcoin System, it is really unhealthy to just let them do whatever they want. Chinese Government are definitely bullies *just check the Philippines-Chinese-Sea Issue* maybe they will allow these exchanges and trading companies in exchange of RULES, REGULATION and FOR SURE MONEY. Let us not just cry on what they did just let them, Bullies shouldn't be living inside Bitcoin System.

China can't control Bitcoins.We can still survive without Chinese. It should unblocked in china  because Chinese peoples still buying and selling
btc. Hope Chinese government realize its mistake and lift the ban 

To be honest Bitcoin doesn't care. With or without China bitcoin will continue. China may have been a significant part of bitcoin, but people seems to forget that bitcoin is totally voluntary as people (miners, devs, nodes) may leave at will and come back as they wish and as bitcoin business experiencing uncertainties with their operation. Other people can always replace their role and economics dictates that as well. Well see in a few weeks how much influence Chinese bitcoiners has to their government.

All the drama around the activation of Segregated Witness and Chinese miners trying to take control over the network and then they forked bitcoin so they can have their "Satoshi vision" bitcoin and now they may be out of business.

Never a dull day in bitcoinland.

China is not really a great deal.
It might be good if bitcoin  is taken out to their country.
So far, we all know that because of china bitcoin price,
Goes up and down in just a day and a minute.

But in some other point, meeting is the best solution to this.
We just have to talk about what would be the good for all
Bitcoin users.

Chinese have never been loyal to bitcoin.We could not forget the obstacles created by them in activating segwit.They have manipulated bitcoin price by dumping and exchanges by creating fake trade volumes.It would be a very big relief for bitcoin itself if it gets completely out of the hands of china.Thanks to chinese government for taking such a step against bitcoin and paving the way for progress of bitcoin.

Chinese economy only works because of currency devaluation.  It makes their products very cheap everywhere.  Bitcoin prevents the Chinese government from continuing this currency manipulation scam.  So, the government has to get rid of Bitcoin.  And they did.  Bye bye! China!

That's how they took over the steel industry!

They fucking cheat at everything.  Cheating is in their blood.

China may have brought shame to bitcoin time and time again but china also played a huge part why bitcoin is at its price today. From the chinese miners to the traders they all played a huge part in bitcoin. We cannot shut them down completely, its their government who can but some of these chinese investors dont want to let go of their bitcoin completely so when the time comes that the whole crypto currency gets banned in china most of these investor will just transfer to another market such as japan.
It is easier than selling all their bitcoins, with the price of bitcoin today you can simply buy a ticket to a different country trade there and withdraw the money converting it to the traditional currency or do bank transfer, then go back to china.
The government of china is so greedy that this may have caused the dips, it is their attempt to control bitcoin manilulating it in every way possible but bitcoin is resilient and bounced back just right after their plot. Now, it may have shamed them and these people by now realized that there is no way for them to control bitcoin, so they are now plotting to have it completely shut, then again this could just be a move of china just to destabilize the global market.
Bitcoin will do good even if without china, as bitcoin is gaining popularity worldwide more and more countries will acknowledged bitcoin and more people will start trading.
It is also a good idea to get GPU or CPU mining back to the average people, but that may slow the process down and it may affect the prices, might go down to 1k USD or less, that we dont know, only time can tell.

I thin kthis month china become a trending topic on this forum. You should be happy, because you dont need any further steps to get rid of china, they  have removed themselves from this bussines. But for the impact for this, you'll not seeing a $5k in near month, because chinese are doing a massive sell with their crypto.

We don't want to see $5k if it merely an inflated bullshit that also comes with -$1k in a day.  This is the 'Chinese $5k'.  We don't need that kind of $5k.  We need a good honest solid $5k - that won't disappear into the wind whenever Xi Jinping farts.  If it doesn't come next week, I'll be fine with that.  I'd rather wait for the real $5k to come a little later than take the early $5K with all the damn Chinese FUD and instability.

you can not eliminate anyone, no more than the Chinese government can truly ban bitcoin nor will they.

bitcoin is decentralized and everyone is free to use it without restrictions. all the drama and regulations and the rules and the restrictions will always be on "buying and selling" bitcoin because fiat will be involved in that and with fiat comes all the issues.

I have to agree with you that we want to see the real price of bitcoin at $5000. And to think after all been said and done, bitcoin remains at steady $3800-$4000 depending on the price fluctuations. I consider this the 'real' price without the China influence now. They are really afraid of bitcoin to take control of their economy, and they want to see everything going in and out of their country as well. If they are out, Japan will take over together with South Korea to lead the Asia Market and push the price to $5000, not inflated.

I believe that there is nothing to be done about China. This country is trying to protect its economic interests. Sooner or later, this should happen, if not in China, so in another country. When the rate of the crypto currency was small, this was not paid attention. Now, when the price of bitcoin jumped to $ 5,000 and was going to continue to go up, the government of some countries, like China, panicked. Since the crypto currency is rather difficult to control by the state, the solution of this urgent problem and the conflict with the state interests initially programmed initially to create it, it was absolutely necessary to solve it. Now the crypto currency is going through a difficult moment and an examination of its vitality. We hope that the state will not be able to harm the crypto currency by its prohibitions.

it seems like there is no other way than we can prove that bitcoin will succeed and make the Chinese country embarrassed by the problems they make.
I do not really care about issues in china, bitcoin can still be successful without any support from them.

I think that is impossible
China has a lot of insiders in the crytocurrency world
They manipulate and make market prices
Their information, their adjustment, has an impact on our crytocurrency community
Eliminating China is impossible