Is it better that China just gets out of Bitcoin?

[Adbitco]

It's neither good nor bad as long as any country itself decides to get out of bitcoin, by doing so they are only depriving themselves of the most powerful and innovative technology and of something which is going to get stronger and more useful and more popular in the future. China's decision, though not confirmed yet that are going to completely get out of bitcoin, is their own and it's going to be their own loss not anybody else's. I personally think that if almost all the countries become bitcoin friendly and recognize it then it's going to do more good to bitcoin than harm.

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[deisik]

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

That leaves a lot of room for further escalation

If the Chinese authorities follow through their threats and do ban Bitcoin in serious, other countries may follow their lead. As much as I want myself China to be taken out of the picture (preferably for good), it may not end up with China alone but cause a domino effect which would likely have devastating consequences for crypto markets in the long run. Maybe, China is not acting on their own now, and a few major governments have already agreed on banning Bitcoin worldwide in the end (tinfoil hat off)

[Bagrras]

I think this will help become bitcoin more independent.

[South Park]

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.

I do not know what is the point to this post, I did not referred a single time to the Chinese people I was talking about the Chinese government and their policies regarding bitcoin and other altcoins and in that way China moves as an unified force, every Chinese investor is going to move their funds thinking in what is best for them.

[bitcub]

China doesnt leave the crypto, only the normal citizens. Everything looks planned. They make threats to BTC so normal people would sell their BTC. Now the Chinese whales bought everything their citizens dropped.

[DoublerHunter]

Yes, it is better right now for bitcoin to get china out from the market because the manipulation will not occur frequently because if you know, chinese people are one of the pioneers of bitcoin and they have a lot of bitcoin in their country and most of the hashing power are coming from china so if the chinese are out then no more huge manipulations for bitcoin.

[South Park]

It's neither good nor bad as long as any country itself decides to get out of bitcoin, by doing so they are only depriving themselves of the most powerful and innovative technology and of something which is going to get stronger and more useful and more popular in the future. China's decision, though not confirmed yet that are going to completely get out of bitcoin, is their own and it's going to be their own loss not anybody else's. I personally think that if almost all the countries become bitcoin friendly and recognize it then it's going to do more good to bitcoin than harm.

Bitcoin can be a big help to the citizens of any country since it brings freedom but for governments bitcoin is nothing but trouble, they can track it but it is a pain, they cannot completely regulate it because they do not have control over it, people can avoid taxes with it and all other things that can be done in bitcoin thanks to its decentralized nature.

[deisik]

It's neither good nor bad as long as any country itself decides to get out of bitcoin, by doing so they are only depriving themselves of the most powerful and innovative technology and of something which is going to get stronger and more useful and more popular in the future. China's decision, though not confirmed yet that are going to completely get out of bitcoin, is their own and it's going to be their own loss not anybody else's. I personally think that if almost all the countries become bitcoin friendly and recognize it then it's going to do more good to bitcoin than harm.

Bitcoin can be a big help to the citizens of any country since it brings freedom but for governments bitcoin is nothing but trouble, they can track it but it is a pain, they cannot completely regulate it because they do not have control over it, people can avoid taxes with it and all other things that can be done in bitcoin thanks to its decentralized nature.

And this might be only a tip of the iceberg

Cryptocurrencies themselves are likely only the first step (and not necessarily a very successful one in the long run). It is more about the blockchain technology itself that governments should be afraid of. This is not to say that they shouldn't be afraid of Bitcoin and other cryptocurrencies, but the blockchain could turn out even more dangerous to their power monopoly and hegemony. After all, the blockchain allows people to express their votes directly in a decentralized fashion in a trustless environment, i.e. without some central authority controlling the people's choices and doctoring their votes as it sees appropriate

[Gerharde]

My own opinion about china trying to get out of bitcoin which previously had a huge effect on the bitcoin market is that since china is still not too familiar in using cryptocurrencies and like any other nations who don’t have control over it yet china will just try to take control by using force and forbidding in using bitcoin before they are able to have it under control. China will not kick out bitcoin, what I can see is that they are just preparing to have some system and rules ready before they will announce their support to it.

[Moujahid]

My own opinion about china trying to get out of bitcoin which previously had a huge effect on the bitcoin market is that since china is still not too familiar in using cryptocurrencies and like any other nations who don’t have control over it yet china will just try to take control by using force and forbidding in using bitcoin before they are able to have it under control. China will not kick out bitcoin, what I can see is that they are just preparing to have some system and rules ready before they will announce their support to it.

Bitcoin took off in 2013 due to China and crashed but in 2016, it took off due to its legalization in Japan. Last spring, Chinese exchange sites got suspended but Bitcoin took off any way because of the rest of world, esp  Japan. Rules that was used to apply in the past doesn't always apply in present. The rapid bitcoin price increase from China is not healthy. It doesn't let bitcoin grow organically. It drives prices too rapidly and then crash hard when it goes down. This makes bitcoin look really bad. It makes bitcoin look gambling instead of real currency. This doesn't help bitcoin's wider adoption.  It is True that in the beginning,  bitcoin might need China to be noticed but bitcoin already passed  that stage.

[Redanim]

How we saw China caused a big crypto collapse. But bitcoin still growing and will grow, so it means its not a big loss. Maybe in the future China will be back with their investors. While China thinking others countries make investments and  making bitcoin more stable.