Bitcoin Forum

Many Bitcoin enthusiasts are of the opinion that cryptocurrency is unstoppable. The basis for this belief stems mainly from the decentralized protocol that maintains the Bitcoin network. From its original design, the distributed ledger of Bitcoin is maintained by participating computers from different parts of the world. A perceived alteration of this system is what has generated fear among many Bitcoin users. Some people even believe that the reason behind this fear is the one thing that could stop Bitcoin.

There is a perceived original structure of the Bitcoin network, at least by the early adopters. This perception is that individuals across the globe will be able to run Bitcoin nodes and mine the cryptocurrency on their personal computers. This was the system in Bitcoin’s early days. However, because Bitcoin mining is now a competitive exercise, specialized equipment began to find their way into the industry.

Can I Still Mine Bitcoin As An Individual?

Gradually, mining Bitcoin with a regular PC became a wild goose chase. Within one decade of Bitcoin’s existence, miners have moved from PC, to GPUs, FPGAs, and today ASIC miners have dominated the industry. With time, what was expected to be a level playing ground with minimal entry requirements became more and more sectionalized. Unless you have an ASIC miner, it has become almost impossible for you to compete in the mining network. The competition did not stop there, as even among the ASIC hardware users, the bar has been raised.

The fear of many Bitcoin users is that the regional balance of mining power has become chronically one-sided. Because of infrastructural availability and other fundamental factors, over two-thirds of the mining hashrate emanates from China. What this means is that most of the mining equipment within the Bitcoin network is installed in and around the Chinese region. Is China the one thing that could stop Bitcoin?

https://twitter.com/PlattsburghBTC/status/1175970888006733826?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fcdn.embedly.com%2Fwidgets%2Fmedia.html%3Ftype%3Dtext%252Fhtml%26key%3Da19fcc184b9711e1b4764040d3dc5c07%26schema%3Dtwitter%26url%3Dhttps%253A%2F%2Ftwitter.com%2Fplattsburghbtc%2Fstatus%2F1175970888006733826%26image%3Dhttps%253A%2F%2Fi.embed.ly%2F1%2Fimage%253Furl%253Dhttps%25253A%25252F%25252Fpbs.twimg.com%25252Fprofile_images%25252F638232680639823873%25252FZ60ZA2Of_400x400.png%2526key%253Da19fcc184b9711e1b4764040d3dc5c07


Why Are Most Bitcoin Miners Located in China?

Although Bitmain, the main manufacturers of ASIC miners, is based in China, other factors that attract most of the Bitcoin mining to the region include the cold weather and cheap electricity. While these are the infrastructural reasons for locating Bitcoin mining equipment in China, it only halfway explains why so much hashrate is concentrated within the region. The majority of the hashrate (over 70%) is shared among just a few mining pools and many consider this so contribute to why China could be the one thing that could stop Bitcoin. Here is why:

Since Bitcoin mining has become very competitive, many independent miners find it difficult to carry out Bitcoin mining activities profitably. It became common that individual miners were running their equipment and consuming electricity without getting any rewards. The more efficient machines seemed to be taking all the money in the network. This gave rise to what we know today as Bitcoin mining pools. Individuals or groups are now pulling resources together to build gigantic mining farms. This results in more efficient machines that can mine blocks more frequently and the rewards are shared among the participants.

https://www.youtube.com/watch?v=K8kua5B5K3I

The Bitcoin mining pool system has become so organised that an individual from any part of the world can simply subscribe to a Bitcoin mining company and their mining exercise. What interests us here is that the biggest of these companies and their Bitcoin mining farms are located in China. Technically, this looks like a structure that defeats the original design of a decentralized network. To worsen the case, it is happening in a region that is spontaneous with regulations and sanctions, as we’ve seen before.

Why Is China So Powerful In The Bitcoin Industry?

China has had a strong presence in the Bitcoin ecosystem, especially from the early days. Most of the big exchanges had strong bases in China, and the awareness of the technology in the region was second to none. The regulatory stampede on exchanges in the country in 2017 was a sudden move that did not necessarily come as a surprise. The socio-political atmosphere of China and the way its government executes economic policies is giving Bitcoin users reasonable concern. With about two-thirds of the Bitcoin mining hashrate based in China, it technically leaves the entire network at the mercy of the government’s policy makers.

F2Pool, AntPool, BTCC, BW Pool are some of the biggest Bitcoin mining pools in the Bitcoin network, and are all located in China. It is also suspected that a reasonable share of the unknown pools within the network are also situated there.

Although many Bitcoin users do not care too much about where the Bitcoins are mined, their concerns remain mainly on where to buy the mined Bitcoins. Platforms like Vertex.Market (https://vertex.market) which offers peer-to-peer trading allows traders to stay within the original protocol of the network, and trade Bitcoin seamlessly with traders around the world. And the network’s protocol must not be neglected.

Bitcoin is created as a decentralized peer-to-peer network. Anything that threatens this protocol will not be good for the cryptocurrency. Although many people seem not to be distracted by the lopsided regional hashrate allocation, there are those who really think that it is one thing that could stop Bitcoin.

https://medium.com/@official_83664/the-one-thing-that-could-stop-bitcoin-3bb9da7c0772

Though China can have a big impact on bitcoin since the largest hashrate in mining bitcoin comes from China and even the powerful mining hardware are also coming from China. The antminer series that are hot stuff on the market are made by bitmain which is located in China. Also the electric cost in mining in China is much cheaper compared to other countries. But even though that is the case even if China dumps all of its bitcoin and all miners in CHina stops mining and even if bitmain stops producing bitcoin mining hardware bitcoin will not stop. Other country will see this as an opportunity and will replace China, remember as long as there is profit companies will race to catch that opportunity.

There is no doubt that most of the influence as far as Bitcoin mining is concerned is very much concentrated in China though as of now we have nothing to be afraid of because the government has not intervened and use this reality to inject chaos into the Bitcoin ecosystem and in fact the government has been encouraging the Bitcoin mining industry to leave the country once and for all.

So is there a good solution to the centralization of Bitcoin mining? Can we not go back to the time when CPU mining can be possible and can be participated by as many people as possible and unlike today where power is shared by limited few? I think e already know the answer to this question. In case something sinister will be planned by a rogue regime in China then I think we might have a big problem but solutions can always be found to remedy the possible situation.

I don't think China can influence or overtake the Bitcoin network even though it hosts most of its BTC's major mining pools. This is a wrong perception of China's supposedly dominance over the network and this is simply because these mining pools are composed of aggregate miners not necessarily located in China just like an ordinary miner from another country joining a mining pool from China.

Aside from that, in terms of nodes that supports the Bitcoin network, China is  only currently ranked no. 8 among the top 10 countries who holds the most number of nodes. Unless otherwise China holds more than half of mining power and more than half of nodes, it would be very difficult for them to "own" the network so to speak. Imho.

Reference: https://bitnodes.earn.com/

I think the same, really good explained tho +rep

so in short you basically read some FUD online about bitcoin, mining centralization and hashrate and then made a wallet of text based on that false information!
the fact is, not being able to mine with a computer has nothing to do with centralization of mining or with your title about bitcoin being stopped! not to mention that unlike what you think not that many miners are from China! the mining is a lot more decentralized that the FUDs want you to believe.

ps. it is also funny how you put up a wall of text to  advertise your crappy website in the end ;)

I really doubt you can consider stopping bitcoin with the cause being of China. Although China holds a lot of miners and is one of the strongest presence in the bitcoin industry, indicating that they can stop bitcoin is just not possible. Even if they stop, hold their coins or freeze their market, its not like they are the only ones participating in the market. Besides, they aren't the only country with a strong presence in bitcoin. If China held 50% of the supply of bitcoin, they could potentially freeze the market and crash it but they don't. They are just a strong presence and that's it. And realistically speaking, why would they even freeze with 50% of the supply when they could create a profit of off that right? A lot of countries could replace China as a strong presence. It's not like it's already set in stone that they would potentially be a strong presence forever right?

What kind of alteration? I don't think any kind of alterations are being discussed or planned! Miners are usually knowledgeable people in the community. The FUD may scare off the newbies but not the early adopters for sure!

Now coming to China. We all know that a major percentage of mining hashrate comes from China and the government may very well ban them or create some policies on heavy taxation which would lead them to stop mining. But that can't stop bitcoin in any way! There are other countries which can take over China because a loss of 70% hashrate would lead to reduced complexity and more profitability with less hashpower. So one deletion will get adjusted by more additions.

Bitcoin can't be stopped in any way! That's the beauty of decentralized network!

No, lopsided hashrate will never stop Bitcoin.  Though we agree that the region of China has the largest hashing rate, it does not mean that only one company owns it.  If you look at the pie here : https://www.blockchain.com/en/pools, there is no single company had a monopoly over the hashrate.  It means one thing, even if one of this company shutsdown, Bitcoin will still continue hashing.  Or if China ban mining Company from mining Bitcoin, it is always not in immediate effect.  They will give notice and a time duration before its shutdown.  From that, company can prepare or migrate to some place where mining is the next cheapest.

While it's true that most of mining hashrate comes from the world populous country China, it's still not necessary that China will be able to overtake the bitcoin network. Also, as others said, it's not necessary that people from individual pools are from China itself. So it will really be hard for China to gather enough mining power to overtake the bitcoin network. Besides that, day by day the mining power is constantly getting distributed as more people are using the network and mining. So it would be even harder for China or any body to overtake the network as the mining power is getting distributed itself.

Everyone talking about China being a big threat into the mining scene but no one really acknowledges the fact that not all of these hashing power belong to a single entity. It's a collection of different mining farms in there and not just from one single rich individual so the possibility of taking over the network is nil, plus the fact that before it is done, prices would be plummeting and the attacker would be forced to abort their nefarious plan. Doing this thing in bitcoin is just another way of saying 'I don't need money that much' in a dumb and expensive fashion.

China always goes big in stuff it likes to make money from and that's quite normal for a big country like China, but there will be others too, who will have no electricity cost or cheap electricity who might also be mining it. Remember also that most Bitcoins now have already been mined so it might not be too much of a problem as there are more and more people now coming to buy it and own it. Bitcoin is a love and hate object fore the Chinese, but many people around the world strive to possess it.

What he said ^^^^ +1

There is only 2 thing that can stop bitcoin to grow or stay in this world

1. If and  only if every country (no one will be left) will unite on not accepting BTC and will banned them on every people they have.
2. IF and only IF there will be no demand and every one will send it to burning wallet address.

as long as there is a few accepting and having it, BTC will never be gone!

Bitcoin can be stopped if everyone decides not to use it. R/}Cu:
BTC mining has nothing to do with "Stop Bitcoin" and suppose that all mining hashrate from China, they will not be able to stop it.
Even if they had enough energy to do a 51% attack, it would be more expensive than a temporary stop.
Also, all Full-nodes can unite against these greedy miners.


Stop reading FUD  Z1#^=w}

Provability that Bitcoin would be stopped in its progress I guess if the adoption will not continue or there will be no more demands for it, but I am seeing many things that can be possible but it is not the government, it will not be other Altcoins, but I think

1] Demands will be less and selling of all bitcoin from whales, and normal people.

2] Adoption will be at zero.

3] Inflation rate can be bullish for some commodities it will lessen bitcoin but it can not stop it, but even though it will still totally affects it.

4] The Internet will be toast by solar flares if internet connection would cease to exist.

5] The End of the world or Doomsday.

The possibility that can sure stop Bitcoin or stop the progress of earth itself but this is all my opinion and what I am thinking right now.

What do they do with the mining pools once they take over?

First, Turn off the miners. This is a very temporary attack and just means the BTC network is slow for a while and takes time to recover. A big deal, yes, renders BTC relatively unusable and tanks the value for a while. But despite all of that, the BTC network will say "never again" and learn the lesson of requiring geographically diverse pools. We might have to experience this before we fix it, but it won't kill BTC, the true ownership of keys and decentralization, which still exists despite the network being slow, will be resilient.

Second, Attack the network. the BTC network follows specific consensus rules, you can't go against those even if you control the miners. the other option is to re-write history, to do some transactions, spend some money, and then go back and re-write the Blockchain with "bad" data. This would undoubtedly suck, it would be very bad public relations for all crypto-currencies and laymen would not trust Crypto for another 10 years, they'd declare it dead over and over again until people finally admit it isn't dead.

Nor China or any other country in the world can stop bitcoin regardless of their action whether through banning bitcoin mining or putting sanctions on miners. Bitcoin network is peer-to-peer and fully decentralized yet the nodes hosting bitcoin blockchain scattered all over the world. The only thing that can stop bitcoin is people stop accepting bitcoin which is never going to happen :P

Only thing that could stop bitcoin is the electricity. Internet connectivity is a must, even for the same without electricity it won't function. Miners are secondary, because even when miners stand together and stop mining one that is into circulation will get used. Every country at the same time won't stand against cryptocurrency, which means the mining support from that particular country will gets stopped.

It will never stop unless the time will come that no one will ever use bitcoin or any cryptocurrency, Most likely impossible to happen. About china they are having a huge step now, I heard that they will tokenize their national currency which is a pretty big move, and base on blogs they will launch soon maybe sooner than libra.

This two scenarios sounds scary but nevertheless could still happen!

Number 4 will  probably happen anytime soon so there might be a need for contingency plan not only on the Bitcoin network but on the whole internet infrastructure as well to keep it running in the event it happens.

Number 5 is irrelevant - I mean who would ever want to think about Bitcoin anymore when the world is about to end? TBH, Imagining this scenario really makes me very uncomfortable! :o

There are always articles and assumptions made with regard to the idea that China has about 70% of Bitcoin miners and also contributes to a huge portion of the total hash rate of the Bitcoin network. But no relevant evidences have been provide to prove this.  In as much that China has cheap electricity does not conclude that most mining firms are found there. As it stands now, there is no specific thing that can stop Bitcoin. It is no longer at the point to be able to stop or destroy.

The only thing that can stop Bitcoin is keeping the blocks at 1 MB and forcing txs onto regulated off-chain networks. Satoshi understood that the only way to beat the banking system was via miners and on-chain scaling.

https://i.imgur.com/ijXXCbj.png

Unlike miners, LN node operators are considered custodians of funds and will eventually be subject to the same KYC/AML requirements as money transmitters.

Obviously, China is one of the most dominated countries in this blockchain system, but not the most, there is no doubt regarding this issue, There are some reasons also behind this high concerned and connected to China, But it's also true that China government hasn't intervented anything like this and Electricity cost is minimal in comparison with other countries, not only that but also China government is not discouraging to mining Bitcoin so people from China feel safe and take initiative to this platform, you have to say another thing that in terms of nodes which support the Bitcoin network, so far it's revealed that China is the 8th countries to hold these nodes, so there also another countries who's working with this platform. so stopping Bitcoin would not be the reason for only China.

It doesn't really matter if a country has the highest hash rate in mining, Bitcoin is still in the blockchain. China may be one of the most powerful countries in the world but that doesn't also translate on the internet or the blockchain itself. Yes, they mine a large amount of it but that doesn't mean they have the "authority" or "ownership" of that cryptocurrency just because they have this much.  You can say everything that may assume that someone or something will have ownership on Bitcoin, but the truth is its a decentralized network.

If China stopped all activity bitcoin related to BTC it would for that period of time lower the hashrate of BTC.
Dealing with transactions until the next Difficulty update would make transactions terribly slow due to the high difficulty and lower mining power, but that would be a temporary thing. BTC's Difficulty has gone up and down over the last 10+ years and it will continue to fluctuate over time as well.
Not much in the long term would change for BTC if China stopped all BTC related Activities.
That's the point of Decentralization, one groups stops and others would come in due to the possibility of profits.
If China banned BTC it might actually shoot the BTC price up!  :)

The One Thing That Could Stop Bitcoin:

A better Bitcoin:
- speed / faster transactions
- network capacity / more transactions
- better distribution / no whales

We all know that a major population of btc mining is centerd in China and they constitute a large portion in terms of bitcoin mining hashrate but still i doubt that China unfavourable attitude towards bitcoin industry will have some major effect on btc and they cannot stop btc to grow in any way.They can be a obstacle in its way but can't stop it. So just relax and don't create panic among others. Bitcoin is decentralized currency which cannot be operated by a country or an individual.It is working with the help of people all over the globe.

even without china bitcoin can survive. forget china no matter what they do to the bitcoin miners, there are some bitcoin miners in Russia, Canada, Switzerland, Germany, Iceland, and Iran. these miners alone can maintain the bitcoin network over time. china can never kill bitcoin regardless of whatever they can do.

how sure are you that  the largest  hashrate of bitcoin is coming from China ?  I don't really think and believe that china produce the largest hashrate of bitcoin.  Russia and other countries also have some impact in the hashrate of Bitcoin. You need to provide evidence to your claims before I will believe this..

China has many large bitcoin mining companies.
https://i.imgur.com/5LlELzU.png

The mining company that came from china
BTC.com  18.8%
F2Pool     14.8%
Antpool    12.7%
ViaBTC     7.3%
BTC.TOP   4%

If they were combined china would be the largest hashrate producers.

References:
https://www.blockchain.com/en/pools
https://www.buybitcoinworldwide.com/mining/pools/

yes it is . there are many country that legalize mining and other crypto operations  .

and infact there was that time before were china decide to hold crypto mining and other related activities to crypto though it have a huge impact on the price  but later on itll just recovered because of the continuos demand that people made  .

  bitcoin cant be stop by one thing because its now big enough   .

The definitive and unequivocal erasure of Chinese mining would be one of the most positive things that could possibly happen. I don't believe it's any kind of threat as is, but killing off this wrong-headed notion once and for all would certainly do us all a favour.

The biggest miners will have spread themselves far and wide in anticipation of this possibility. If a large amount of hashing disappears for good then the algorithm takes care of it as it always has.

Some nincompoops will say 'but then this glut of redundant miners will be sold to 51% attackers' or, just maybe, they'll go to... other miners?

Does it even matter that most of the hashrate is located in one country? Borders aren't important for Bitcoin and it's the same with nationality religion and all that stuff. If China was destroyed nuked or whatever we would have a big drop in hashrate but that would not be the end. There would still be a lot of miners elsewhere and difficulty would adjust to make it easier and more profitable for these people to mine. They'd increase their hashpower to make more money and eventually rebuild everything.

The only thing that can stop bitcoin is the banks and the government

Really? Banks are going to stop Bitcoin? Please tell me how? The only thing a bank can do is not allow people to send money to exchanges and not receive money from exchanges. Both these things can be avoided. Even if they somehow manage to cut the flow of fiat money to exchanges people will trade using USDt or other cryptocurrencies.
Small countries will work with Bitcoin like Malta because it's worth it for them.

All the world will never go together against bitcoin because countries are rivals too.

It does possible if internet is going to shutdown and we go back in the time that technology never invented. There are many new crypto and many developers that keep on making improvements for digital currencies. Bitcoin will keep going as long as people are with it.

China due to their sheer volume might have some extra power or be able to dump the markets, which is expected in any industry (even a decentralised crypto-currency), they are still unable to fully control the currency (eg, changing max supply, etc).

I can agree with this - mining in China has gone pretty large scale with a lot of companies opting for huge operations worth several million dollars.

And I’m sure China will not act stupid to go such way,because they are benefiting Good

And like what you’ve said surely many big countries will take opportunity in case that China crosses their way and create their own version of crypto

And also like what you said as long as there is profit,business will continue and proprietor will surely find another way so the business will never stop

I'm not even sure that anyone will actually be able to stop bitcoin

Can any one thing stop Bitcoin? No, at this stage Bitcoin is unstoppable. Bitcoin's existence does not depend on a single person or government or any country for that matter, even China.

Why is China so overestimated in terms of influence over Bitcoin's existence? If China will all of a sudden decide to ban everything that is related to Bitcoin, the existence and growth of Bitcoin will not stop. It will continue to grow and get adopted across the world. Sooner or later, China will realize it has to be friendly to Bitcoin again because Bitcoin becomes the main global currency and it cannot allow itself to be left out of the world's development.

Dying from within is indeed the only way it's going to happen.

If users, miners and developers give up on it then all you're left with is some useless code. Even then some enthusiasts may keep it ticking over but it would be a curio from then on.

I've no idea what would inspire a mass walkout but nothing else will kill it off.

if it's true that China wants to stop bitcoin or stop bitcoin mining, it's only a trivial thing for bitcoin because miners aren't just in China how many well-known countries or large countries want to mine bitcoin and also support bitcoin. then if China stops promoting bitcoin then it doesn't make bitcoin weaker, it could be an opportunity for other countries to get bitcoin.

IMO, the only thing that could stop bitcoin is if no one will ever want it, let say another coin come up and for some reason people got drawn and decided to not use bitcoin instead. But I think it is impossible because bitcoin is becoming more and more popular nowadays and many are now investing to bitcoin so I think even if all bitcoins will be mined a lot will still use bitcoin and that it is very impossible that no one will ever use it in the future.

Another thing that could stop Bitcoin is complete political censorship by all the countries around the world after which People would be left with no option than to reduce the usage of cryptocurrencies. Also, not to forget that maybe bitcoin is decentralized however it still needs a bit of approval from governments to operate because people are never going to forego government laws to use bitcoin. Moreover deflationary currency structure is also a great hurdle in the success of Bitcoin. I hope it can overcome these problems only then widespread adoption will be possible.

If the day would come that all Bitcoin have been mined, expect a large amount of increase in the market price. How can I say this you ask(?) Simple, Scarcity, the less the quantity of a priced object the high its value would be. I wouldn't be surprised if it breaks its "bubble" price last 2017.

This is unlikely because halvings will make sure this process lasts for decades. The number of bitcoins per block will be lower and lower and finally you will need x number of blocks to get a single bitcoin. It will of course increase its value but it will be a gradual thing not something like OMG today was the last mined bitcoin! No more mining!
Like others said in this thread the only way for it to die is if we get bored and abandon it.

I agree with you, mining Bitcoin will not end anytime soon.

But my answer is for this statement:


I'm not exactly saying that the mining of Bitcoin will end anytime soon. But what I meant was, if we arrived at that time when all of Bitcoin have been mined, then Scarcity will strike Bitcoin. And I doubt that mankind will abandon Bitcoin, no human will pass-on for something that benefits them. For now, we can relax and just pay attention to the current trend on the market.

@darkangel11 many people who use bitcoins are not aware of how halvings work, hence they’re paranoid thinking that bitcoin mining is coming to an end. Also I don’t think people will ever get bored with bitcoins, I say this with confidence because bitcoin is yet the king of crypto’s despite so many alts being available in the crypto market. Hence in my personal opinion I feel people will always continue to use bitcoins.

Bitcoin is created to be mined forever, I never think mining of Bitcoin will end.  The block reward may probably exhausted but the transaction fee can be mined in place of that.  Miner is the one who secure the Bitcoin network so it is intended upon creation that it will not cease even though the reward is depleted.  This is well thought by Satoshi since by the time the reward is exhausted, miners have still the motivation since by that time, reward from the mined transaction fee might be higher than the initial block reward of BTC.

Nope, mining is not the reason, moreover, bitcoin mining in China is no longer conducive because the governments intensified their efforts to crack down on bitcoin miners and some of those miners have already moved out their mining facilities from China. Their pools getting bigger due to many people from around the world joining the mining pools.
Nevertheless, something that can stop bitcoin is just the internet blackout for good, even if people do massive sell-off, bitcoin still exists and works properly.

Maybe for some reason(good) but I'd never think that it could be a long time shutdown. Internet is very important for us now, a lot of transaction needs this thus, I don't believe that there is a reason to block the internet for that sake. We have to forget of thinking that crypto/bitcoin will be shutting down cause it won't happen, in fact, it is growing fast which means that it has a place to stay in here.

My thoughts exactly. It has always been a supply and demand thingy. If there's no one who needs it then it will be gone eventually.

Existential protocol failure would do it. I could think of a couple routes to that end.

One would be failure of its Byzantine fault tolerance, due to inadequate mining incentives. Right now, Bitcoin mining is heavily driven by speculation. Years down the road, it won't be. That fact combined with dwindling block rewards could theoretically send hash rate into a downward spiral that could create the financial incentive for large scale reorg attacks. This is one of the arguments for strictly limited block size.

Another would be the quantum computing threat. If exploited in a zero-day fashion, the reliability of the blockchain would be irreparably broken. No rollback would be able to properly secure outputs for their rightful owners.

The trade wars between the USA and China can make things difficult for US miners, if China stops exporting ASIC miners to the USA and even some other countries, but there are loads of countries that do not have trade restrictions with China and ASIC chips can be exported to those countries and then bought by the US customers from those countries.

I think the guys in Silicon Valley can definitely start to compete with the Chinese manufacturers of these ASIC chips to create a secondary suppliers for these miners.  ::)

If you say about one thing that could stop Bitcoin then I dare to say that the internet system is the main pillar of this platform, if you could stop providing the service of internet then there will be nothing about cryptocurrency and even Bitcoin, But it doesn't happen because, without the Internet, we are nothing. we could do nothing, we will be nothing, So stopping Bitcoin is not an easy way, because of the decentralized system, Nothing would be able to stop it in the future. China has got a lot of initiatives but they can't dominate on this platform yet, so it will have vanished when it doesn't have any demand in the market. when it doesn't have any value then people naturally stop it, But Bitcoin is the future of the monetary world in the coming future.

This explains all, its not always about China, for how many times China's government bans bitcoin yet it still here able to trade, to mine and do transactions in it. China might gives tons of numbers in transactions before but it's not necessary mean that their the ones who have power on it. Without them bitcoin will still be bitcoin, if the price weren't big as what we wanted, someday as many adopts it other than China it can reach it's ATH again, let's not put too much favor that Bitcoin belongs to them unless United States and European countries gives the spot to them in terms of number of nodes.

True, China is kind of the ideal environment for Bitcoin miners in terms of electricity costs and mining pools. However, if China does dump its Bitcoin, it will negatively impact Bitcoin to such a degree that it could fail. Ultimately, this is an unlikely scenario but not completely impossible. You sound like you know a lot about crypto though. If you're into trading, you should check out Vertex.You can find loads of good offers on coins on the marketplace.

You have a point - although it is possible that China may someday overtake the Bitcoin network and they have already established a strong presence. China remains a popular choice for miners regardless of nationality because of their cheap electricity, and leading Bitcoin mining pools.

 I don't think so, China has no enough power to do that, they even banned Bitcoin but still it is growing, maybe Bitcoin could stop if something new discovery could replace it, faster and more stress free, just like the new tech developing right now the quantum generation. We don't know what future holds, so better to always keep ourselves updated all the time.

Most people sees china stopping their miners from mining as a threat to the existence of bitcoin, but I must say that I really do not see it much as threat, first you have to see from the aspect of most investors as they will never react to such news as we can see form the time that we were first threatened by the government of china to stop all miners, and the market never reacted negatively to this.

If china stops mining now, I think it will only end up giving power to some other countries that will see it as an opportunity to boom by giving chance to miners to do so in their country. If you see how much mining gives to some of these miners, you will understand that it is not really easy to give up the mining just like that as some of them would rather prefer to relocate than staying in china.

This is a reality dose as investors are least bother about this news about China pushing to stop mining which keeps popping up once in every two month and if they do it then it will be a loss to them as there is some or the other country waiting to take over and I personally believe China and Russia will never give up on mining as it gives them a huge source of income and as you have rightly mentioned they might prefer to relocate to some under developed nation without much restriction if they are forced to stop mining.

I think that China is manipulating the price and will continue to build up its own mining. Perhaps in the future, we will see even economic cryptocurrency wars between states.

China is indeed a powerful country, but AFAIK it's likely a communist type of government. Hence, the more reasons why the Chinese government wants to put a stop to Bitcoin--it does not help them. Yeah, sure we can compliment them for having an ideal/suitable environment for mining, but just some time ago, China kinda banned a lot of Altcoins, I'm not pretty sure about the details but it also affected Bitcoin. And now with the heat between mainland China and Hong Kong, since people of Hong Kong are considering using Bitcoin to save their money, Bitcoin is becoming an eyesore for the government. Also recently a mining station of Bitcoin was set ablaze, you might've notice some bumps on the price, but the more I think about it the more I conclude that it's intentional. Not sure if terrorism is the right term, but I don't it's hard to believe if it's just a coincidence.

The thing that can stop bitcoin is all people in the world agree not to use bitcoin and the entire internet network the world is dead.
So both of these reasons can make bitcoin unusable, not China which is destroying the fate of bitcoin as is widely discussed. Although
it is true that most investors come from China, but China could not stop bitcoin. Because as long as there is demand for bitcoin, nothing
can stop bitcoin.

We all know that it is impossible to happen.
For me, the one thing that could stop bitcoin is being unable to make an improvement. If bitcoin will stay as it is even after so many years without any development, it will be left behind by other cryptocurrency.

Regulation is a main reason why crypto may be in hard position

so with this you already said that its impossible for that to happen lol
they wont stop bitcoin but they can make movements and eventually shaken the market?as you have mentioned them having the most investors.

but its nonsense to tackle because i'm sure China government will not do stupid actions like this as they already knew it will affect their economy as well

Actually I also think the same way, I mean lets think about how bitcoin get over different problems and challenges through the years. Some of the government officials from different countries hates bitcoin but it is still here handling it very well despite of those problems you can still see a lot of people supporting and believing on bitcoin. No doubt but bitcoin gives us so many opportunities and even benefits that is why I can't find any thing that can stop it. Maybe china has enough power to do it, but it will be difficult for them to stop bitcoin.

I am personally not under the opinion that if China's miners dropped off the grid, Bitcoin would be screwed and the coin would be dead essentially.

How did Bitcoin survive in the early stages? It was fine during then, maybe it'll revert back to that and transactions won't be as fast as nowadays (avging 15-20 minute blocks), but it'll chug on.

If China completely died as an industry we'll see a lot of newer companies enter the market in order to make up for the lost market share. We'd instantly see a bunch of new companies try and capitalise off the huge gap in the market and it'll be filled quite easily.

Only one thing i know that could stop bitcoin if internet connection has stop in the whole world bitcoin will die because no one can open there wallet.
That is only my thought and i think its never been happen that one.

It is now broadcast over satellites, though I think it's receive only, and I remember experiments with broadcasting it over TV or radio waves in Finland. I expect internet free from centralised hubs to grow as well.

And if the internet is down as a whole bitcoin will be a minor concern.

mining bitcoin is not a simple thing, it requires a capable device for maximum results, maintenance and operational costs, especially electricity costs quite a lot. Of course it is still quite profitable, as a "first hand" that gets btc from mining results, especially if it is done collectively as described by the OP. This does not mean that mining individually is not profitable, it's just less effective, I think.

Internet has been part of our everyday life now and majority of people cannot live and cannot do business without it, and companies also needs internet for them to operate. So, it won't happen the Internet will shut down unless something happened in our world, that shuts down the internet.

For me, the only thing that could stop Bitcoin is when all countries ban it as it will be hard for us to access and to transact using it.

It's not going to do anything in case governments order the companies behind the satellites to terminate Blockstream's (or any other entity) contract. If that happens you can kiss your satellite goodbye.

It only provides an advantage as long as the government isn't your direct enemy, which they might become when Bitcoin grows larger at cost of their own financial system. That's why I'm not really hyped by these satellites.

Basically, the less bitcoin supply can be mined, the higher the market price of bitcoin will become, the reason why is because of the shortage of mined bitcoin by miners, as well as the psychological impact that bitcoin will now have a fixed market volume that its market price will not be affected that much. In this case, we can expect huge market price and no possible reason to stop it other than when government said so.

A country can block certain websites; even a site that has a specific word on it can be blocked e.g. Bitcoin, Blockchain, etc. and anything related to cryptocurrency. So maybe that's going to be their solution if they ever want to stop Bitcoin. Well unless you use a VPN.


I think it's the only option if they wanted to completely terminate Bitcoin for good, but I doubt the whole government will ever do that. Internet is very essential to their operations now--a necessity even. And besides people will not be happy about it, businesses, corporations, even non-government organization e.g. NASA, Tesla, etc. And ultimately, they have to shut down everything that emits frequency as well.

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I don't think the government will go that far. After all, Bitcoin is not a major issue for a government, they have a more worthy issue to solve and improve for the country.

Yes, China is such a big and powerful country, not only when we're talking about cryptocurrency and bitcoin, but China as a whole. China has a big population and can really affect bitcoin just with their actions. But that doesn't mean they can stop bitcoin. Yes, it can bring a big impact but bitcoin won't stop functioning just because of China. Remember there are still people around the world. Bitcoin doesn't just revolve around China.
I just hope China won't do something that might affect bitcoin negatively...

Even the government cannot stop us. I dont see any thing that might stop bitcoin. Only internet could be the problem for us , nothing else. If internet will be shut down by government expect that many enterprises will make a rally againt government.

I think there is nothing that can stop bitcoin. Even the government cannot stop it because they don't know who runs bitcoin since it is decentralized. They are planning to enter a cryptocurrency and want to regulate it but they can't do that. Maybe the internet can stop bitcoin because it is online but it is impossible to shut down knowing that the internet is being used all around the world and even the government is using that so there is nothing that can stop Bitcoin from growing. With regards to the topic about china, I dont think also that they can shutdown bitcoin yes we can say that China is a big country but look at the supporters and investors all over the world compare to that country.

Bitcoin is still invulnerable in the eyes of many crypto users, but there are still flaws that become the reason for it to stop for functioning.
We're still blinded on how it is valuable, but if you focus on disadvantages you can say that it is possible.
If bitcoin stops its progress and development, who knows what will happen, it may become the reason for it to shut down.

Are you trying to say that only internet could stop Bitcoin?

Have you ever heard someone sending bitcoin via radio transmission? It's pretty interesting to know, google it if you haven't heard about it. Bitcoin could not easily be stopped, there are many options to keep it alive.

Forget about the bitcoin miners in China, we have enough bitcoin nodes and miners in other parts of the world to maintain the bitcoin network. Bitcoin is one of the most popular trends on the web right now, the more popular bitcoin gets the more bitcoin miners and nodes we can have around the world. I think the only thing that can stop bitcoin is internet failure which is not going to happen.

Well, thank you for that information. I didn't know that there is alternative way of sending Bitcoin not using the internet.
Here is the link I had found. https://news.bitcoin.com/no-internet-no-problem-how-to-send-bitcoin-by-amateur-radio/
Yes, Bitcoin is really hard to control and even who wanted this to shutdown. Government has nothing to do in bitcoin, they could even stop this.

Yes, it's possible. But there are complications by doing this.

By the by, a radio frequency (specifically) has two branches, Very High Frequency (VHF) and Ultra High Frequency (UHF). VHF has a range of 30-300 MHz, and VHF station could be operated for 100, 000 watts and could travel a 60-mile-radius--that is mostly utilized by FM radios, some TV broadcast. While UHF has a range of 300 MHz – 3 GHz, and VHF station could be operated for 3,000,000 watts (that's a lot) but also could only travel at a 60-mile-radius--that is mostly used for a lot of electronic communication devices, e.g. mobile phones, wireless LAN, Bluetooth, TV, and land radio. Sure, it is going to be an alternative, but think about it, what would be the side effects when doing this or rather what would be the consequences? And I wonder how fast (or slow) the transfer of Bitcoin would be, or what would happen if the connection was cut off. Well, I can google it and just know it right away but I'd rather let someone tell me about it.

Source: Range (https://www.intercomsonline.com/2-Way-Radio-Range-How-Far-Can-Two-Way-Radios-Communicate-s/136.htm), Frequency (https://en.wikipedia.org/wiki/Radio_frequency), and other details (https://www.techopedia.com/definition/5083/radio-frequency-rf)


Just because you can, doesn't mean you should.

What many people talk about is the non-usability of Bitcoin, but today the adoption is stronger than ever, some news has indicated that some countries in Africa have increased the possibility of adopting Bitcoin more, however, others bet on wanting to weaken Bitcoin, but how?

Through the purchase of the hodlers, but this is something that will not happen, it is a plan that some governments have, when they buy the hodlers they can destroy bitcoin, but it is something illogical, many hodlers will never sell Bitcoin, it is what represents them , it's like your life, you can't sell life.
 In this article you can see in detail: https://bitcoinist.com/governments-wont-control-bitcoin-hodlers-will-never-sell-expert/ (https://bitcoinist.com/governments-wont-control-bitcoin-hodlers-will-never-sell-expert/)

Indeed, I think bitcoin will only die when it becomes valueless where there is zero demand for bitcoin by the public. The demand for bitcoins by the people is everywhere that is why bitcoin is very valuable today. Zero bitcoin demand is the only thing that will kill bitcoin, not bitcoin miners or china ban.  

yeah maybe it's right

I would not doubt this also, we have very good and sound analyst in this market and many of them could not have been that bad to have been having wrong prediction no matter how volatile that the market may seems. We just keep blaming some predictions that has not come to past, it is not that the analyst didn’t get it right, but because of the manipulations that is coming from these types of countries is the reason why all this is happening.

China has so much money, and they could honestly use it to manipulate the market, and I think that majority of us should learn to always adjust to this also and move along with them in whatever way they are operating, like when bitcoin fell to $7500, I know they would want that to discourage people, but rather, I bought more bitcoin because I know they will still manipulate it up.

If radio transmission is possible in sending bitcoin then everybody needed to know that in radio transmission there are so many hindrances we should know so that we could send the data/message/transaction and received it without any losses, yes losses is the main problem in transmitting data signal using that , because in every transmission we should consider the weather, the obstruction such buildings , location whether the altitude of that source is good of it is in the "dead spot" sending bitcoin thru radio signals is possible but there are so many things we should consider so that there will be no "losses" nor no "antenuation" will be made, so sending bitcoin thru internet cloud is the easiest and fastest way because it is uses different medium also yes we need to consider some things but it is easily to solve than in radio signal, and additional fact: radio signal is desined for analog not for digital communications. Higher bandwidth and high power is needed in digital.

The one thing that could stop Bitcoin is if people stop believing in it.

China is the country can stop and make bitcoin have higher and lower price, after China president announce for legal using bitcoin suddenly bitcoin up, but when China banned bitcoin suddenly bitcoin down, possible with China how to make bitcoin with higher and lower price because they have many responds with bitcoin investor there, if China want to allow bitcoin next week maybe bitcoin can growing to higher price.

Very wide your information and you are right that the mining activity is largely centralized and China has a remarkable domain, however, these people have invested millionaire amounts and want to maintain favorable conditions for Bitcoin, so I do not believe that the unequal distribution of the hashrate affect the security of Bitcoin in the future.

A marked inclination of the mass market towards an Altcoin is perhaps one of the risks of Bitcoin, if suddenly a new project is attractive and very innovative, it is possible that people will gradually lose interest in Bitcoin, however, it is an unlikely scenario until now.

In any case, if the government of the leading countries adopts certain laws to ban Bitcoin, who will we not be able to have any benefit from this coin.  What is the use of passing Bitcoin to each other if we do not have the opportunity to buy something for these coins.  After all, if this coin is banned, then no businessman will sell for goods for bitcoins.

This is out of code, its unenforceable and unnecessary. The network will self adjust regardless of how much hashrate remains, always. Doesn't matter where the Geo-location of nodes it, the code doesn't care and shouldn't care because this could be faked or hidden anyway.

So what if you shut off the "4 main pools", again the network would adapt, assuming that a good portion of that hash rate doesn't migrate to the remaining pools which is highly probable.

Go back and rewrite the blockchain is not possible, you would cause a hard fork. And Ethereum already did the unthinkable anyway, they earned their stigma after that incident. Bitcoin never will.

To successfully pull a 51% attack you will probably need to spend far more money than any possible gains of doing so, especially in the largest blockchain with the highest hashrate on Earth.

Some "whales" have already tried, it didn't end too well to them.