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Chachacoin17
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October 17, 2017, 08:06:45 AM |
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Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.
Yes, the so-called "trading forecasts" sites keep promoting their lie to create panic and hoping the market to fall But I think crypto-traders getting smarter too everyday Here is the chart of BTC prices:  Yes I agree with you. Amateur bitcoiners will likely the one that goes panic selling during the fall but the smart people are going to take that fall or dip as an opportunity to buy more bitcoin. That's why during the dip, bitcoin believers pump more bitcoin so investors from china who dump their bitcoins were just replaced by another bitcoiners. And today yes, China's influence are insignificant afterall. |
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Emitdama
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October 17, 2017, 01:12:32 PM |
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China is just a country and bitcoin is spread throughout the world, it is consider to be a global currency so I think even China control the entering of bitcoin in their country it will not affect the market of bitcoin beside I don't think that after they had banned bitcoin their people were realky stop working to earn bitcoin we all know it only takes having internet connection to access crypto currencies and they could use other stuff to save their bitcoin and convert into dollars.
Right! China will never win as they want to regulate and control, which is exactly the opposite of what successful crypto does. Ultimately, governmental regulations over the crypto world will be failed. No country has the power to kill bitcoin and anyone who will ban it is going to suffer. At most, bitcoin price will just get reduced. I think China is trying to regulate bitcoin and want to control this currency as it understands the true strength of bitcoin but whatever the Chinese government did apparently hurt bitcoin and the holders. Now Russia is going to make the same mistake. |
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thesmallgod
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October 17, 2017, 01:40:30 PM |
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Day by day many people are getting to know more about bitcoin. many mall in south Africa are now considering taking bitcoin as payment processors. generally the cryptocurrency market is growing daily due to more usage. when china announce that they will be regulating the use of bitcoin it causes alot of uproar many people thinking this will kill bitcoin growth but here we are today bitcoin is still doing wonderfully well and China influence is truely insignificant any more
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sindikat
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October 17, 2017, 01:49:04 PM |
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China is just a country and bitcoin is spread throughout the world, it is consider to be a global currency so I think even China control the entering of bitcoin in their country it will not affect the market of bitcoin beside I don't think that after they had banned bitcoin their people were realky stop working to earn bitcoin we all know it only takes having internet connection to access crypto currencies and they could use other stuff to save their bitcoin and convert into dollars.
Right! China will never win as they want to regulate and control, which is exactly the opposite of what successful crypto does. Ultimately, governmental regulations over the crypto world will be failed. No country has the power to kill bitcoin and anyone who will ban it is going to suffer. At most, bitcoin price will just get reduced. I think China is trying to regulate bitcoin and want to control this currency as it understands the true strength of bitcoin but whatever the Chinese government did apparently hurt bitcoin and the holders. Now Russia is going to make the same mistake. Russia can't do anything in the cryptocurrency market. There is a large area but few residents. I think attempts to come up with laws on the regulation of cryptocurrencies will be relevant only for Russian. The world will not notice. China has a very large population and therefore has a big impact on the market, but as the events of September even they can have a decisive influence on the cryptocurrency. |
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frowsiter
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October 17, 2017, 01:53:52 PM |
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This was suppose to happen primarily with china. They were just being little secured about the economy and fraud ICO so I don't think that they have made any mistakes. They are right at their position and we are right at ours.
Anyhow the china is out of the race now and they are not gonna get any fruits for the same. The one who is in, is in now and they are just licking the morning bread with rates of bitcoin @5.5k plus. That's just cool though.
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gabbie2010
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October 17, 2017, 02:21:05 PM |
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Bitcoin is a decentralized virtual currency it cannot be controlled by any governmental policies, Chinese clamped down on major exchanges has just a minimal impact on bitcoin which indicates that bitcoin holders cut across the globe.
Bitcoin has shrugged off China influence and is already heading to $6K price trademark which is influenced by the upcoming SigWit2x in Oct 25.
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nomad1109
Full Member
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Activity: 238
Merit: 100
Medichain: The Medical Big-Data Platform
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October 17, 2017, 02:35:31 PM |
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If China really wanted to kill Bitcoin, I believe they could. Even though the currency is decentralized it's value can be deminished by reducing the trust of the users. By making a continuous effort to steal bitcoin from accounts, exchanges and wherever they are, they can put fear into the market. If the users can't feel pretty safe with putting their money in a digital currency, they won't. A large enough amount of stolen bitcoins every day would give it a increasingly bad name. That's the thing about items with no intrinsic value: the only value it has is the value people give it.
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xFiber
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October 17, 2017, 02:50:04 PM |
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Bitcoin is a decentralized virtual currency it cannot be controlled by any governmental policies, Chinese clamped down on major exchanges has just a minimal impact on bitcoin which indicates that bitcoin holders cut across the globe.
Bitcoin has shrugged off China influence and is already heading to $6K price trademark which is influenced by the upcoming SigWit2x in Oct 25.
A crypto currency like bitcoin is controlled (at least ideologically) by the users. But users normally have to respect laws in the country they reside. So if a government shuts down exchanges residents of that particular country won't be able to access them. In that case the government has some sort of influence of crypto currency. But can't control it in any way. When we start to see mare decentralized exchanges the little influence the government has will become obsolete. |
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Yadstiker
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October 17, 2017, 02:51:59 PM |
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China is just a country and bitcoin is spread throughout the world, it is consider to be a global currency so I think even China control the entering of bitcoin in their country it will not affect the market of bitcoin beside I don't think that after they had banned bitcoin their people were realky stop working to earn bitcoin we all know it only takes having internet connection to access crypto currencies and they could use other stuff to save their bitcoin and convert into dollars.
Right! China will never win as they want to regulate and control, which is exactly the opposite of what successful crypto does. Ultimately, governmental regulations over the crypto world will be failed. No country has the power to kill bitcoin and anyone who will ban it is going to suffer. At most, bitcoin price will just get reduced. I think China is trying to regulate bitcoin and want to control this currency as it understands the true strength of bitcoin but whatever the Chinese government did apparently hurt bitcoin and the holders. Now Russia is going to make the same mistake. Russia can't do anything in the cryptocurrency market. There is a large area but few residents. I think attempts to come up with laws on the regulation of cryptocurrencies will be relevant only for Russian. The world will not notice. China has a very large population and therefore has a big impact on the market, but as the events of September even they can have a decisive influence on the cryptocurrency. I think so too. Back when i was reading few pages in this thread, its really funny that most of articles and news have common trends or i don't know if they are bias or not, because as what i have even read from those news and articles, they are almost supporting both sides of the coin, the positive and negative of prices, i don't also know if they are just spreading false news or just taking advantage to it. |
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Palmerson
Sr. Member
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Activity: 434
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Live cams shows pimped with cryptocurrency
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October 17, 2017, 02:58:09 PM |
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Bitcoin is a decentralized virtual currency it cannot be controlled by any governmental policies, Chinese clamped down on major exchanges has just a minimal impact on bitcoin which indicates that bitcoin holders cut across the globe.
Bitcoin has shrugged off China influence and is already heading to $6K price trademark which is influenced by the upcoming SigWit2x in Oct 25.
A crypto currency like bitcoin is controlled (at least ideologically) by the users. But users normally have to respect laws in the country they reside. So if a government shuts down exchanges residents of that particular country won't be able to access them. In that case the government has some sort of influence of crypto currency. But can't control it in any way. When we start to see mare decentralized exchanges the little influence the government has will become obsolete. Fortunately now there is the Internet. If the government closes the stock exchange in your state that can prevent me to use the services of the exchange in another country? Even banning the use of cryptocurrency government will never agree to prohibit the transfer of currency into the country. We will swap bitcoins for and receive Bank transfers. What will change? |
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senne
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October 17, 2017, 03:05:52 PM
Last edit: October 17, 2017, 07:46:48 PM by senne |
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China showed its impact last month and left a month long effect on its value but now it is back to track and it clearly shows that on the long run Bitcoin is not entirely dependent upon one factor, no matter if it is one of the main hub of Bitcoin, still it cannot stop its growth. But all this clearly shows that China has great influence on Bitcoin, due to which they are also lifting the ban from ICO after regulations which was discovered in the recent news. But right now more than China what is influencing Bitcoin is Bitcoin Gold which can clearly be seen by the value of Bitcoin at this time.
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audaciousbeing
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October 17, 2017, 03:53:15 PM |
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At this time a lot of us are quite happy that we have put China behind us and that bitcoin can do without China but for me, I would say its not over yet because a lot of people that are rejoicing now will be the first to dump in the case there is some downward trend in price. Chinese government to me still have a lot grip on bitcoin its just not going to be that easy for a market leader be cut off with price reaching an all time high. I dont see how practicable this is. It means the Chinese market is passively still involved in bitcoin.
I would suggest everyone should brace up because another impact is coming that I am sure of. Never put what you cannot afford to lose into bitcoin.
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xFiber
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October 18, 2017, 02:46:38 PM |
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Bitcoin is a decentralized virtual currency it cannot be controlled by any governmental policies, Chinese clamped down on major exchanges has just a minimal impact on bitcoin which indicates that bitcoin holders cut across the globe.
Bitcoin has shrugged off China influence and is already heading to $6K price trademark which is influenced by the upcoming SigWit2x in Oct 25.
A crypto currency like bitcoin is controlled (at least ideologically) by the users. But users normally have to respect laws in the country they reside. So if a government shuts down exchanges residents of that particular country won't be able to access them. In that case the government has some sort of influence of crypto currency. But can't control it in any way. When we start to see mare decentralized exchanges the little influence the government has will become obsolete. Fortunately now there is the Internet. If the government closes the stock exchange in your state that can prevent me to use the services of the exchange in another country? Even banning the use of cryptocurrency government will never agree to prohibit the transfer of currency into the country. We will swap bitcoins for and receive Bank transfers. What will change? The free market will always find its way around things, that's the beaty of it. If they ban crypto currencies like bitcoin or ban access to the stock market, people will still find ways to access the market anyway. They can use mediums like VPN's or trade on forums or specific groups on social media. It's very hard, perhaps even impossible for governments to shut down the free market. |
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farhaan
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October 18, 2017, 05:01:05 PM |
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Yes,china has almost lost its dominant place in bitcoin market completely.Now,whatever actions it takes against bitcoin,it would have no impact over bitcoin price.Bitcoin has been accepted globally now.Even the FUD spreaders would have to find new hot topics to make new investors panic.
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Kray
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October 19, 2017, 08:09:07 PM |
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in fact we have to accept that china really affect the price in the world of crypto, so many miners in china because the cost of electricity there is very cheap, a lot of investors come from china and so many tradings in china that able to increase the bitcoin’s price . but eventually the price has recovered since then.
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EddyGameta
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October 19, 2017, 08:17:00 PM |
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Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.
You cannot really say that just by looking at the current price. Who knows, if the Chinese government hadn't acted against Bitcoin, we could have seen $8000 or even more. The Chinese are the most populous nation on earth and you can't ignore them. but it has been proven that china completely shut the ICO off in china, and it can’t be regretted that the Chinese government act against bitcoin because they no longer able to control ICO of bitcoin in china, if they let it any further Chinese Yuan will be endangered. Even without china bitcoin’s price has recovered, we must accept that china was really making bitcoin’s price dropped a few weeks ago |
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croTek4
Sr. Member
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Activity: 392
Merit: 250
the Cat-a-clysm.
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October 19, 2017, 08:19:17 PM |
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Aside from mining it, and selling it, China had no influence whatsoever on Bitcoin.
They had influence on the hashrate, they still have. China has developed an industry around Bitcoin, but it's just impossible to "control" a cryptocurrency: if they hold everything, they will gain nothing because all the trades are done internally.
Since they are stopping to mine Bitcoin since it's not so worth anymore, I'd rather say... "China's profits on Bitcoin is becoming insignificant"
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Catether is an open source mineable ERC20 Token, powered by Cates. |
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BITDV
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Undeads.com - P2E Runner Game
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October 19, 2017, 08:19:49 PM |
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Actually it’s the basic rules that bitcoin’s price is influenced by market ratio, demand and supply, and china can affect it because many trades in there can make bitcoin’s price increased. then finally the government could no longer manage the bitcoin trading and closed all of the trading in china en masse which made bitcoin’s price dropped to $ 3000.
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amaral1977
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October 19, 2017, 08:22:38 PM |
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Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.
The chinese can´t control BTC, and i don´t believe they want to. They control a significant part of the hash power and the GOVERNMENT (people running the country) just found a way to get a piece of the pie without doing shit for it. Just told the exchanges, do you want to close or do you want to pay? basically thats it. |
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