Will Bitcoin Die Because of China?

[shendeaz]

Although China prohibits bitcoin, Bitcoin is global and bitcoin is accepted in many countries. As a result, bitcoin will suffer some but will soon resume and move forward.

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[fulmetal08larz]

Absolutely not, but I think they make a big impact in crypto world. Most Chinese Investors are business minded and know how to strategize in the market's volatility. They will not let their business go down the drain and will always grab the opportunity to buy low and sell high. Bitcoin is currently on its early stages of development and we may not be able to predict the future but we can always hope for the best to come.

[wangxiaoyan888666]

This is definitely not.The fact is that, contrary to the Chinese government's ban, bitcoin is becoming more and more violent.

[Mehdi.Habib]

I don't think so. Because China is not a country who was using Bitcoin in the world. Many people of different country in the world are using Bitcoin. The number of Chinese users can be larger. But Many countries now cooperate with Bitcoin. So, Bitcoin can't die due to ban from China. Although Bitcoin banned from China, the number of Bitcoin users increases day by day.

[faceoff97]

Big NO. China has nothing to do with Bitcoin and Cryptocurrency existence and killing it. Indeed China has big role in our economy but they can't stop Bitcoin and Blockchain Technology and wihtout China, the world will continue to develop Cryptocurrency because everyone finds it useful in  the future.

This is so true. China has no control over, in fact the have tried to turn it ofd but turns out the other way. People expected that bitcoin will dump once China keep away from it, but unexpectedly the value rised more that the expectation. This what make bitcoin different, it is so independent that even powerful country cant make it as a puppet. Bitcoin will only dump once user stop from.using it, but seeing current situation of bitcoin, its demand is ever increasing the same way its value.

[BTC AND ETH]

China’s two largest remaining bitcoin exchanges, Huobi and OKCoin, announced today they would halt trading services for local customers by Oct 31. This followed a similar notice yesterday from BTCC, another major exchange, about a halt in local trading by the end of this month. The latest service closures will effectively put an end to the yuan-bitcoin exchange markets, once the world’s largest driver of bitcoin trading volume.
Huobi and OKCoin said they would stop taking new customers and yuan deposits immediately. Both noted in their statements (Huobi’s here and OKCoin’s here, both in Chinese) that they would continue to provide “crypto-asset services.” Both also said they received regulators’ “notice and guidance” this afternoon.
A source at OKCoin who requested anonymity says the company is considering peer-to-peer transactions, but it’s not a certainty because current regulations are vague. A Huobi spokeswoman did not elaborate on potential alternative services for the domestic market. Despite its halt to local trading, Shanghai-based BTCC, the world’s oldest bitcoin exchange, said its other businesses, including an international exchange and a bitcoin mining pool, remain unaffected.

[Majeye]

I think bitcoin will never die because i think that china will recognize that bitcoin is not bs and can make their market grow. And they will see bitcoin rise and will regret that the ever even thought about banning bitcoin.

[arseaboy]

Big NO. China has nothing to do with Bitcoin and Cryptocurrency existence and killing it. Indeed China has big role in our economy but they can't stop Bitcoin and Blockchain Technology and wihtout China, the world will continue to develop Cryptocurrency because everyone finds it useful in  the future.

This is so true. China has no control over, in fact the have tried to turn it ofd but turns out the other way. People expected that bitcoin will dump once China keep away from it, but unexpectedly the value rised more that the expectation. This what make bitcoin different, it is so independent that even powerful country cant make it as a puppet. Bitcoin will only dump once user stop from.using it, but seeing current situation of bitcoin, its demand is ever increasing the same way its value.

with more people to join the investment and learn more about bitcoin they will start inviting other people so even china tried to make some step
in order to harmed btc it didn't affect much and you are right it went to the other way, bitcoin is more supported by many now, and even china
can no longer dictates any movement.

[Davidbugs2]

LOL watching todays price, I think china is dead and bitcoin is still living solidly. hats off to bitcoin.

[stompix]

no not really i think china has a big part why bitcoin is price is really going insane just think about their population they are so populated and people seeks job to make a living mostly chinese have money so they also want a good investment and bitcoin is one of the good things to invest in it now  

In my language there is a saying: "many but..", I won't add the adjective not to enrage the Chinese readers...
But numbers alone don't mater.

So , they are 1 billion , that is meaningless. There are 1 billion Indians and another 1.2 Africans.
If an american is earning 3 times more it means already the same but when you do the math combined with real life it's way more.
For example A and B earn 1000$ and 2000$. Both have to pay rent, electricity, food and stuff worth 800.
In the end A has 200$ while B has 1200$ left. That is 6 times more.

It's the same with China and India, they might be many but their impact on the price and their investment lags miles behind those of EU and US.

LOL watching todays price, I think china is dead and bitcoin is still living solidly. hats off to bitcoin.

Watching the price, BTC is around 80 billions while China has 14 trillions yearly GDP.
Let's not overreact, neither China nor BTC will really die because they choose to ignore each other.

I think bitcoin will never die because i think that china will recognize that bitcoin is not bs and can make their market grow. And they will see bitcoin rise and will regret that the ever even thought about banning bitcoin.

They care only about one thing.
Stopping capital outflow, and with bitcoin this is impossible to control.
Transactions, security, etc etc they don't care about it. They care about knowing where money are going and preventing them from flowing out of the country.

[Bambinoe]

Bitcoin will not die because of China. What i feel China has a great influence on is the Bitcoin price/value.

[Nilda]

China is overrated. Bitcoin will survive even without the Chinese. Quality over quantity.

[felipe04]

Actually we need china but even they leave bitcoin its going to stay good because many country enjoys bitcoin and they acknowledge it,i think they leave because they scared what will happen in the price of their own money if bitcoin continue to rise but now i think china already gets again the attention here because see the price now even they leave it will continue to up so i think in some time china will acknowledge again the bitcoin world

[snedyolo]

I don’t really think so. It is true that due to China’s population it helped bitcoin a lot and many of it’s citizen used it. However, Cina is just one country and there still many countries out there that use bitcoin. So, it’s not likely to happen that bitcoin will die.

[Razmirraz]

And happens to bitcoin now is getting rich without China. China's has the potential to make bitcoin more soaring (as many supporting tools, such as cheap mining equipment, large population, and skilled workforce). However, no reason bitcoin will die without China inside.

[Kizaki]

Well, most of bitcoins are being hold by most people at china. It is a large portion of bitcoin that really change the flow of value from day to day. I think bitcoin will survive without china but also, without china bitcoin will not be as successful as it is right now. Right now, our best interest to keep bitcoin rise the value and break its current record. China is great as people there always look for potential investment for their own interest and using those interest keeps bitcoin rise. The only thing that I don't like is the way china controls bitcoin because of their great population. It is not really controlling but because of them, bitcoin will change flow to their wants.

[bitcoinVPSD]

This will never happen. Even if China prohibits bitcoin, it still exists. However, the bitcoin value will be slightly affected by China. Bitcoin has existed for some time and has been accepted by many countries and it can not die

[Ailmand]

Totally not, China is one of the biggest players in the bitcoin market but that does not mean that bitcoin will cease to exist if China decided to ban bitcoin or dump it. There are a whole lot of market from other countries combined compare to China which will continue to function even if China gets out of the picture.

I agree. If more Chinese players would do away from supporting bitcoin considering the news that they are planning to make a crypto currency of their own, it would maybe affect it's value a little but once it adjusts, it will regain like what happened before. Many other people from other parts of the world are supporting it now. Therefore, it will be hard to just kill it down.

[BUY_SELL]

There will be no threats for Bitcoin because of China
China is interested in the circulation of crypto currency, only wants to take an active part in regulation

[Femhab]

Bitcoin is built on a decentralized system not a country or a nation can stop it but together we can stop it. China as a country aline cannot stop bitcoin, so bitcoin is unstoppable as far as more masses are into it. Some governments are contemplating weather to make itva store of value or a currency but the truth is either of the two ways they accept it bitcoin still possesses both properties. With bullish increment in market cap every time, there is still more to BTC in coming years.