China will soon be insignificant?

[AtlasFound]

Hey everyone,

I've only posted here a few handful of times, but I have been actively trading for a couple of months now, and mostly at successful, modest return. So I bring this question up, will China soon become insignificant? China has me thinking a lot lately about the future of BTC and crypto.

It seems like every Friday China wants to test their power on cryptosphere, and they have done so twice now with ICO ban and the current China binary exchange ban. The only reason why I'm interested in what China is doing is because I'm slightly invested in Neo, and I see a huge potential for this protocol to become successful if China gets out of the way, but it doesn't seem to be going that way as of late! I'm not concerned, because I know I am hedging that it will turn out OK in the end.

I'm pretty confident that China is playing games, or maybe a better way of putting it is they are showing how much power they really have over the liquidity of the crypto markets. I do, however, feel like that the scaling of Bitcoin to be a more mainstream technology, as it is doing here in the U.S., that China will be less capable of "terrorizing" the markets as they can now, and are doing currently.
 
So with my opinion on China, I wanted to know what you guys think about holding Neo tokens, as well as if you think China's influence over the Bitcoin and Altcoin markets will subside as adoption grows rampant on the worldwide stage? I mean, we already see Canada making crypto hedge fund manager a real designation by the government, and Russia is poised to place it on the Moscow ETF.

I think China will be left in the dust because regulations will be the death knell to their Chinese cryptoventures like Neo, and they soon will be surpassed by the world crypto markets (which I hope is the case).

Regardless, I know BTC and blockchain are just in the Wild West stage of growth, and we are the cowboys riding the untamed mustangs!

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[eastwind_ja]

agree,  whatever  the  chinese goverment  choose to do ,  not a big deal  to the whole  altcoin  world.  BTC and altcoin is  gainning more and more country and ppl's  trust.

[AtlasFound]

It makes me wonder what that "bit catalyst" will be, or that a-ha moment where Bitcoin and other cryptocurrencies just spread like wildfire? Has me wondering.

[BrewMaster]

China has always been what it is. nothing more and nothing less. it is not insignificant and it is not significant. it is one of the forces among many other forces in this market. but just one of the many.

the confusion is always because the news from China are more effective for some reason. possibly because they are easier to be made into a FUD and cause panic over. or possibly because of the seemingly high mining power over in China.

[AtlasFound]

Interesting point. China is sort of in this weird middle ground in the crypto world with tons of mining, etc but with tons of power to shift everything.

It is certainly FUD and it definitely infects in every market when they do. You almost can expect a Red day on coinmarketcap if PBoC makes an announcement. I think personally it's a thing of control, like any government where people have no freedom to make that choice for themselves.

Should be interesting to see how cryptocurrency and Bitcoin play out during this latter part of 2017. I have a feeling September won't be as fruitful on the gains perhaps.

We'll see.

[mobnepal]

China still have significant influence on whole crypto market but like you I also think soon Chinese dominance will be over. With new traders coming from different part of the world into crypto trading along with few new millionaires investing in cryptocurrencies, sooner or later chinese will be not the only one who holds cryptos and even when there will be some huge fud/hype/news within china we might not see significant dump or pump on market.

[energycom]

China still have significant influence on whole crypto market but like you I also think soon Chinese dominance will be over. With new traders coming from different part of the world into crypto trading along with few new millionaires investing in cryptocurrencies, sooner or later chinese will be not the only one who holds cryptos and even when there will be some huge fud/hype/news within china we might not see significant dump or pump on market.

Yeah, they will be important as now. They're controlling significant portion of the crypto world, we can't deny this. But we can make sure they can't make the market collapse by themselves.

[iqlimasyadiqa]

China still have significant influence on whole crypto market but like you I also think soon Chinese dominance will be over. With new traders coming from different part of the world into crypto trading along with few new millionaires investing in cryptocurrencies, sooner or later chinese will be not the only one who holds cryptos and even when there will be some huge fud/hype/news within china we might not see significant dump or pump on market.

formerly china had become one of the center of miners and also the circulation of bitcoin around the world. really you say that bitcoin is now beginning to spread evenly in the world. but china remains to be taken into account, with the largest population in the world then china can easily make changes in its citizens have a view of bitcoin / cryptocurrencies.

[dothebeats]

As long as China still holds majority of the hashrate of the network, we cannot really exclude them from the trading scene since they will still hold bulk of the trading volume all around the world. Also, at the current state of affairs, even rumours in China are generating a wave of reaction in the market, needless to say bitcoin is still China-bound even if regulations hit the users hard.

[Bobsrepair]

As long as China still holds majority of the hashrate of the network, we cannot really exclude them from the trading scene since they will still hold bulk of the trading volume all around the world. Also, at the current state of affairs, even rumours in China are generating a wave of reaction in the market, needless to say bitcoin is still China-bound even if regulations hit the users hard.

Well said. It would take a lot for China to be irrelevant.

[2double0]

As long as China still holds majority of the hashrate of the network, we cannot really exclude them from the trading scene since they will still hold bulk of the trading volume all around the world. Also, at the current state of affairs, even rumours in China are generating a wave of reaction in the market, needless to say bitcoin is still China-bound even if regulations hit the users hard.

It's completely irrelevant to think that China is the mover of the markets anymore because many more countries are now involved in, as well as the reaction that comes from there is from their own investors so taking into consideration their decisions alone, bitcoins won't be giving a damn to it and btc is bound to grow no matter how hard they try to hit the markets with their stupid game-plays. It would be awesome if China takes off their head from bitcoins because if they think they may ruin it for everyone, they should gtfo now. But I think that if they (China) or their government ever decide to leave Bitcoins or even alts, then it would be like killing the goose who lays the golden eggs on their part.

[tyuner4]

IMO, the news on banning the ICO will soon be insignificant if China come out with news and then killing the news every week.

[BUK2016]

I see no single country has the power to influence bitcoin or crypto currency in general. For me, the influence of China is insignificant on bitcoin and crypto currency.

[HeRetiK]

As long as China still holds majority of the hashrate of the network, we cannot really exclude them from the trading scene since they will still hold bulk of the trading volume all around the world. Also, at the current state of affairs, even rumours in China are generating a wave of reaction in the market, needless to say bitcoin is still China-bound even if regulations hit the users hard.

China's hashrate and mining ventures are indeed a very important part of why they have as much influence as they do. As long as most mining hardware is designed and manufactured in China, its influence will be non-negligible.

Nonetheless I'd argue that apart from that China never was that much more influential than other governments to begin with. Similar statements from other governments would have had comparable effects. Just imagine if the SEC wouldn't have fired a warning shot but would have went straight to prosecuting ICO token issuers. Or if the EU would threaten to disconnect Bitcoin exchanges from the traditional banking system. The effect would be no less than what we see with China.

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I think China will be left in the dust because regulations will be the death knell to their Chinese cryptoventures like Neo, and they soon will be surpassed by the world crypto markets (which I hope is the case).

[...]

Regardless of what China does, in my opinion Neo's claim to allow smart contract programming using a variety of programming languages is a pipe dream. The state of smart contract programming is questionable as is, throwing another hard problem into the mix (ie. supporting multiple programming languages equally well) makes me even more skeptical about this project.

[Youghoor]

Seriously i dont understand what is the main target of the China government, i dont get it... They are looking forward to regulate the cryptocurrencies right now, first they were the ICOs, and now they wanna regulate all the cryptos.
But the chineses were a great community for cryptocurrencies, that is why it would never be insignificant for bitcoin and other cryptos, just like Japan and almost every country in Asia

[uslfd]

1. I don't think chinese govt is "playing a game" to test their significance. Their policy's aim was to control money outflow + prevent fraudulent fundraising activities.

2. To think about china, you'll HAVE to separate its people, i.e. chinese, from it's government. When govt puts forth new policies, you have to ask questions like "how does THAT impact the action of normal chinese people?". For example, even if they made it "illegal" or "impossible" to trade fiat to bitcoin WITHIN china, then you have to ask "what will be the number of people trying to trade BTC by channeling their money outside china"?

My point being, whatever the government does, will most likely hit bitcion in short to medium term. However if BTC proves its quality over time it will still attract chinese people who will be willing to bypass regulation in place to invest in BTC.

[amaral1977]

Irrelevant china...Don´t think there is such thing. There are many powerful players and china is and will be one of them. If they can alone move the market, they can´t. That´s why we all seek decentralization. so that no country, no corporation or no government gets so powerful that they alone can move the market their way.

[socks435]

Seriously i dont understand what is the main target of the China government, i dont get it... They are looking forward to regulate the cryptocurrencies right now, first they were the ICOs, and now they wanna regulate all the cryptos.
But the chineses were a great community for cryptocurrencies, that is why it would never be insignificant for bitcoin and other cryptos, just like Japan and almost every country in Asia

China are greedy honestly they are greedy they have  a large mining farm that is why they can make anything like FUD that can cause panic selling for other people.
But i think its impossible that the price can be push more cheapest price of bitcoin and i think the price of bitcoin can be back into normal once they realize the strong people believe in bitcoin that is why holding tightly around $4k above..