Will Bitcoin Die Because of China?

[Herbert2020]

Granted, China is a big contributor for the rise and adoption of Bitcoin

what did China ever do for "adoption of bitcoin"?
i tell you what, nothing! Chinese are just traders. they are trading bitcoin and that is why their volumes are high and on par with USD markets. they never contributed anything to the "adoption" nor the "rise" if anything Chinese has been keeping the rise back with all the drama that they create every now and then.

if they go out and take their drama with them, the rise will also be bigger and smoother.

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.

so far this "agenda" has been to prevent crime both in talk and in action.

[nkarm1]

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?

Based on the stated scenario it would surely become a huge problem for the market. But let's stop making conspiracy's that they have those agenda's of disconnecting their citizens from cryptocurrencies. Let's just stay on facts, fact that they are banning ICO projects in their country because most of them are turning into scams which is very illegal and they don't want their citizens to be scammed again. Those actions of the government would still help us being optimistic about the future of cryptocurrencies. China is still on the equation right now. And if they decided to be apart, let us be optimistic that there are still good reasons that would make this good future built. Remember that future is always shaped by optimists, not pessimists.  

[stupid_seb]

China is gonna lose the fight against Russia

https://cointelegraph.com/news/russian-government-plans-to-subsidize-bitcoin-mining-electrical-cost

[mdripon]

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?

I can not dream that, if china reject bitcoin however bitcoin die. It is not possible because China is just a contributor and so are the other countries as well. so if china reject bitcoin however it not dead.

[youngagethinker]

If it's true that china will also ban bitcoin, what will happen with those miners on china? As I know, china has a lot of bitcoin miners than another country. I dont think they will just sit around watching their goverment ban their gold mine.

If this will really go that way then they might operate in under the table because as we all know no one would like to throw the gold of the internet just like that, and the loss for them is so big if they will be raid by the authority.

China will be left out if they continue to go on with all these rounds of bans. The US govt. wasnt too quick to do the same and it was a wise decision. They know its better to let everyone know where they stand but still give enough space for cryptocurrencies to move for now, to observe and see what benefits it could bring to them and their people.

And the price of course will decline, China will be left out but they will also have a big impact on prices. I think CHina won't let these happen. Cryptocurrencies are not scam, if they are really desperate then ban the illegal ICO but let the good ICO do their things. We Must face the fact that were in the beginning age of cryptocurrencies, if they stopping these right away then in the coming time the world will still insist this technology and they will be forced out to accept again these cryptocurrencies.

[bitblaster]

I think all central banks are against cryptocurrencies. I am afraid if China, Russia, and the US decide altogether ban bitcoin . I hope this does not happen. In this case all transactions could be questioned by the governments.

Has anyone got an answer?

[renderkiss]

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?

There is no denying China's contribution to the development of bitcoin. However, at the present time, it is like a double-edged sword, and it causes the bitcoin to be seriously affected. I feel worried about what might happen in the future.

[konco_kenthel]

Hopefully only china who do ico ban existence not to many other countries who want to follow improper traces imitated for the progress of society to continue to improve the economy with income from some new ico.

[hitlab]

Of course bitcoin will not die, this is actually good for bitcoin in the long-term as it break up the centralization of mining in china. However all this will cause a lot of FUD and we will likely suffer some short term price drops as chinese people sell their coins. Get some fiat ready to buy cheap coins.

[libert19]

Always remember, the restricted things comes out stronger than ever!

[Adbitco]

No bitcoin will not die because of Chinese government decision to ban ICOs as there are other countries and the more developed ones which seem to be adopting it on a much wider scale. Even the impact of Chinese banning ICOs or bitcoin exchanges on the prices of bitcoin is going to be only temporary as the demand for bitcoin is increasing daily with lots of new people willing to invest their money in bitcoin. As long as there's demand for bitcoin and it has a community of strong supporters I don't think bitcoin will die.

[thomastthom]

Hopefully only china who do ico ban existence not to many other countries who want to follow improper traces imitated for the progress of society to continue to improve the economy with income from some new ico.

What is wrong with ICOs? Why do need to get banned?

[sekapai]

the show must go on...just left china  and bitcoin  can  live without china..

[nkarm1]

Hopefully only china who do ico ban existence not to many other countries who want to follow improper traces imitated for the progress of society to continue to improve the economy with income from some new ico.

What is wrong with ICOs? Why do need to get banned?

In China, they didn't fully explained why they have to put a ban in it. The China Central Bank only said that ICO's in China "seriously disrupted the economic and financial order". And conspiracy's are everywhere​ that the Chinese Government is planning to offer it's own Made in China cryptocurrencies.

[patz22]

I've seen a lot of posts/blogs/discussion that China banned BTC. What's the reason? I'm reading the comments and I don't see any explanation yet but I think bitcoin will not die because of China since there's still a lot of country that use BTC and even though they have a big part in this industry BTC will still work w/out them.

[Glorious04]

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?

I dont think so. China is only a part of it's contributor to it but over all bitcoin is getting its fame more and more everyday everywhere and people are getting more and more enthusiastic about it as they hear from the news, read from anywhere in the internet, hear it from mouth to mouth talk. People who've never heard and tried it before are getting thirsty about it and all these for sure are another potentials for bitcoin to be strong again.

[bece]

My Big NO to you. I think China is just a Chain of Bitcoin Miners but it is for all over the world. May be a decrease will happen for little time but it will raise more by other countries who are getting more about this.

[nkarm1]

I've seen a lot of posts/blogs/discussion that China banned BTC. What's the reason? I'm reading the comments and I don't see any explanation yet but I think bitcoin will not die because of China since there's still a lot of country that use BTC and even though they have a big part in this industry BTC will still work w/out them.

Where did you get those news? They didn't banned BTC. Only ICO's are banned, and speculations that they will ban the trading sites of those ICO coins.

[bitblaster]

I've seen a lot of posts/blogs/discussion that China banned BTC. What's the reason? I'm reading the comments and I don't see any explanation yet but I think bitcoin will not die because of China since there's still a lot of country that use BTC and even though they have a big part in this industry BTC will still work w/out them.

Where did you get those news? They didn't banned BTC. Only ICO's are banned, and speculations that they will ban the trading sites of those ICO coins.

They just banned Binance trading for Chinese nationals
https://binance.zendesk.com/hc/en-us/articles/115001458532-Binance-System-Upgrade-Complete

[Psalms23]

I dont think so.  China has mining rigs that earn lots of bitcoin, they wouldnt allow bitcoin to die,  they will lose income from it.  We dont really know what their intentions are but I predict they will return to btc sooner or later.