I guess the best answer to that question is of course a BIG NO! Granted, China is a big contributor for the rise and adoption of Bitcoin and they are primarily the country involved with Bitcoin mining due to very cheap electricity cost.
Now, the Chinese government has its own agenda and I think in the long run Bitcoin can be running against those agenda so they are now thinking of slowly disengaging and disconnecting their citizens away from the cryptocurrency platform.
I know that whatever China will decide on the impact can be heavy on the market and this is shown with the recent decision banning the ICO projects and the unconfirmed total ban of Bitcoin exchanges though it is still a rumor and nobody would want to confirm.
Can cryptocurrency still go on and have a very optimistic future even without China as part of the equation?
China does not represent the whole bitcoin market, and it isn't the only country where the costs of electricity to enter the mining industry and generate profits are cheap. With rumors of prohibitions confirmed or not in that country, doesn't mean that the transactions with cryptocurrencies disappear in its totality, nevertheless would give way to the opening of a black market to accede to this type transactions
Show Posts
