Is it better that China just gets out of Bitcoin?

[olushakes]

It will be all good ifor everybody to know their stand on bitcoin as it will open opportunity for other countries who can see opportunities and a fertile ground in bitcoin to even develop their own and be referenced in the hisotry of things and even that is the point of decentralization.

How would just one country will be dominating in the areas of mining at the same time exchange sites?

[Haesoo]

On the long run we will need China. China represents 18% of population and their economic power is growing so it would be a pitty if they don't take part in crypto. They have a lot of money to invest.
However, China has caused some big problems and crashed bitcoin price several times so at this moment, it might be better if they step out of the game and come back when their government decides whether they will ban crypto all together or they will allow it and stop interfering.

Yes it's true that China somehow help the crypto market but if China will get out of the picture maybe over time crypto market will survive even without them.
We still have the Western countries and Asia. Yes China has a big mining industry but Chinese people are selfish enough to ban and create their own exchange without thinking what will be the effect in the market.

[Nyenyepogi]

its better if china gets out of bitcoin because their government is so unstable and very corrupt they can do whatever they want..people in china cant even criticize their government cause the official will put them in jail.

Yup i agree with you we dont need china bevuasw many country allow to use this so if china ban bitcoin i think they will regret becuase bitcoin can stand by its own feet maybe a month of decreasing value if china ban bitcoin but bitcoin will rise again.

[Mysterious01]

Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.

China is the biggest country and the biggest contributor of crypto currency.
But if China didn't support already the said bitcoin then its better for them to step aside as bitcoin can stand already without them.

[Sithara007]

its better if china gets out of bitcoin because their government is so unstable and very corrupt they can do whatever they want..people in china cant even criticize their government cause the official will put them in jail.

Yup i agree with you we dont need china bevuasw many country allow to use this so if china ban bitcoin i think they will regret becuase bitcoin can stand by its own feet maybe a month of decreasing value if china ban bitcoin but bitcoin will rise again.

First we need to see whether China is actually banning Bitcoin or not. Right now, the indications are that they are only banning the ICOs and the CNY-BTC trade. As far as I know, the exchanges are allowed to trade in BTC-ETH and BTC-BCH. This is clear from the statements made today by the two major exchanges in China, OK Coin and Huobi.

[gabbie2010]

China leaving cryptocurrencies world the better, whether China leaves or not bitcoin has come to stay there decision can only have minimal effect on the price of bitcoin thereafter bitcoin will bounce back, sometimes a go China banned Facebook and other sites does that really affects Facebook? No let forget about China banning exchanges and I am very optimistic more countries will adopt bitcoin.

[rjbtc2017]

Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.

Some news that have been circulated for the past weeks doesn't neither confirmed nor assured that it was factual and real.
For me, it is correct that china's ico ban has a lot of influence in bitcoins and specially to altcoins but i don't think china will just shutdown bitcoin exchanges when they havethe largest mining equipment.  they are earning bitcoin why do they need to shutdown bitcoin exchanges' activities.
As of now, we can see thqt bitcoin's price is going upward rally/upward trend which means the ico ban just made some people freak out that's why dome of them cashed out which makes bitcoin price fall dow.
I cannot see. Bitcoin's price falling down because of china
It will still depend to other countries if they will do the same.

[civilufo]

I see one funny issue about China banning exchanger. Two large exchangers announce that they will quit by 30 sep, but both of them also put a notice that their pools will continue operation. So, how should Chinese miner convert their coin to fiat? If noway to do so, why should they mine? Or the exchanger turns to underground, just my guess..

[South Park]

A lot still have the mentality that China calls the shots when it comes to bitcoins. This we see has an effect on the painic withdrawals especially in my region. When a full and  comprehensive report is being given to show that Bitcoin has grown beyond the dictates of China then people will have a stable mindset as regards any report coming China itself. Till then, we will still have them as a market price influencer of the bitcoin.

China is big when it comes to bitcoin, it is probably the most influential country when it comes to bitcoin so it is natural that when China decides to change its policies that panic like the one we saw a few days ago happen, but the most important thing is to always remain calm since most of the time the effects are temporal.

[JasonXG]

Leave China to destroy their own country on their own. Its their own demise. Let us focus on btc growth in European and America.

A lot still have the mentality that China calls the shots when it comes to bitcoins. This we see has an effect on the painic withdrawals especially in my region. When a full and  comprehensive report is being given to show that Bitcoin has grown beyond the dictates of China then people will have a stable mindset as regards any report coming China itself. Till then, we will still have them as a market price influencer of the bitcoin.

China is big when it comes to bitcoin, it is probably the most influential country when it comes to bitcoin so it is natural that when China decides to change its policies that panic like the one we saw a few days ago happen, but the most important thing is to always remain calm since most of the time the effects are temporal.

Its the same as believing that all Chinese people are good at maths and are all kung-Fu masters.

[Mr. Thang]

Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.

In my opinion, no. China has become one of the biggest influencers in terms of bitcoin prices due to having the largest trading bitcoin platforms. There are a lot of investors and individuals who invest in that country that totally affects the price. If in the event that China was completely to be diminished from bitcoin, then the general prices would result to a negative impact within 1~3 months depending on scale of damage. That is why, the mere banning of ICOs resulted to a dramatically decrease on the price of bitcoins.

[Darker45]

I think so! Let this country make its own so that they will totally leave bitcoin alone. Bitcoin will for sure be better off with other countries other than china. China tends to be doing some tweaking efforts to the price of bitcoin for their own reasons.

[cutiecez05]

Bitcoin is good..

[smsupto]

It's bad that the China gets out of bitcoin. About 20% of btc user in China people. I think as more use btc as more valuables in the cryptocurrency.

[Ilegendph]

I have half opinion about this. Well ofcourse  I want chinese to be not involved in bitcoin because they are always trying to make bitcoin to crush to make a cheaper one for themselves. But on otherway around, china has the largest share of hashpower rate that contributes to development of bitcoin.

[azguard]

Leave China to destroy their own country on their own. Its their own demise. Let us focus on btc growth in European and America.

Second on this.

We need to focus that US and Europe be first in price change will that be good or bad. I mean so far in most cases they control price change as they like now think that is about time for Europe and US to take some major steps in this and take control once.

[Nawaytes]

I think it's better if china decides to ban bitcoin. Because in my opinion as long as china still believe that they're "the king", we always wait some news from them to decide bitcoin price. It's like bitcoin has no difference with fiat currency. So i would really love if they go.

[Wingo]

Though that is very sad, China caused a great fluctuation in the price of bitcoin which made many people panic and sell their coins. This would not happen if their government supports bitcoin. If China would get out of this industry, though the price of bitcoin would fall again, bitcoin will have a more stable price.

[severaldetails]

There are a lot of people working with bitcoin in China.
I would not want that they lose access to the bitcoin market. After all we are one bitcoin community!
The problem are not the people, it's that the government there wants to controle everything.
If China would get completely out of bitcoin, their government would get what it wants, and the people there had to suffer the most.
From a moral point of view that would be wrong in my eyes.

[eye-con]

actually its not good, you can see it yourself that china has a big effect on cryptocurrency market. but since bitcoin become more popular than before it can bring back its demand even if china will hand off all their bitcoin holdings.