Will Bitcoin Die Because of China?

[dogz12]

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?

It would give a great impact on the market but definitely it would not cause its death. Adoption of bitcoin from other countries still is growing thus it would not die.

[jchi2210]

I mean China sure as hell isn't helping anything with their current stance on it but its funny because they are supposably creating their own blockchain, they want to be ahead of other countries but they also want power over it.

[454875kio]

Bitcoin will not die because of China. However, there is no Chinese people's bitcoin growth rate will be very slow, the Chinese people to promote the growth of bitcoin has played a very critical and most useful, bitcoin transactions are still the most active Chinese. There are too many Chinese. Even if all South Koreans join Bitcoin, there are not many Chinese people. However, the Chinese government’s attitude toward Bitcoin is not friendly. If the Chinese government reopens bitcoin trades, it will be great news for Bitcoin. I am optimistic about the future of Bitcoin.

[nacareng]

China The main contributor to the rise and adoption of Bitcoin, will surely be great in the international market, but you should know that China is just a contributor and so does any other country if a State is entitled to refuse Bitcoin. But it will not cause the death of Cryptocurrancy currency. You Must stay oktimis.

[Arata]

With the closing of the largest bitcoin market in China of course it's very big impact on bitcoin value but it will not kill bitcoin. The value of bitcoin just decreases and bitcoin value will slowly rise.

[summerbray]

Bitcoin will never die because of China. China has no longer have the biggest share in bitcoin value, it's now Japan. And other third world countries are now participating in cryptocurrency just to improve themselves financially.i am right.....

[gundala]

Bitcoin will not die even china banned this to there country. We all now that china has a big impact to the community of bitcoin, but it doesn't mean that bitcoin will die if china banned this. Not only the china accept bitcoin, there are a lots of countries who accept bitcoin just like US, Japan, Canada and other countries around the world. There is no reason bitcoin will die even china banned this. Us long us there are people use bitcoin bitcoin will remain.

It happened last year. After the policy of China is applied, bitcoin price is indeed decreased but not to cause death, and after that prices bounce higher. Someday, if other policies from a government that appear to have bad effects on bitcoin, it will be resolved, because bitcoin has many benefits.

[Oxana19726897]

Bitcoin was not developed to target a specific country in this case China, bitcoin is for the entire world to use and enjoy the financial freedom its suppose to bring to its users and just as they say there is strength in numbers bitcoin can not survive on one countries contribution, we all play a part in bringing bitcoin and other cryptos to where they are today.

[marineboss]

With the closing of the largest bitcoin market in China of course it's very big impact on bitcoin value but it will not kill bitcoin. The value of bitcoin just decreases and bitcoin value will slowly rise.

OK, but just because they "close the market in China" doesn't mean that market ownership is no longer of China. I believe Binance is moving to the Cayman Islands while there are other exchanges moving their base of operations to other more crypto-friendly business environments. This won't have an impact on the well-being of the crypto market...

Again, if you look at the Google Trends for 'bitcoin' the hype is definitely over. All the smart money exited back in December of January.

[Roxyy]

I don't think bitcoin will die because of china. Chines ban or regulation has shocked bitcoin users all over the world because China was the biggest trader as well as miner of bitcoins. Chines ban shacked bitcoin market, panicked user sold bitcoins as a result its price has fallen sharply 20%. But this fall lasts no long and bitcoin spiked in upward direction creating a new high of $8000. Even Indonesia, Australia, Japan tried to regulate bitcoin, but these news also created any effect on bitcoin price .

[guojii]

No, China is one of the largest players in the Bitcoin market. China's electricity costs are very low. They are mainly countries involved in bitcoin mining.

[Darker45]

China is still all over this place. I guess this concern has long been settled. China has indeed implemented some very strict regulations against Bitcoin and cryptocurrency exchanges, but I have read somewhere that Bitcoin is still very much alive there. One can even buy Bitcoins in China until now. Well, accordingly, China has also some laws against jaywalking but jaywalking is still very much prevalent there. So what we're making here is an unnecessary fuss.

[summerbray]

Before China give a very big impact to the whole crypto market but now it's totally different. We have surpass new ATH's even without them and their regulation or whatever is happening on their country did helped bitcoin to reached another high price. But I'm still looking for them as one of the biggest player in the market, they got a lot of crypto people so that can make a swing to the price.

[miti251194]

Bitcoin is not dangerous. I think it needs a bit of time for governments. Perhaps in the near future, most countries will accept bitcoin payment. Bitcoin can improve the efficiency of payment, it is not inflationary, it is lower than the banking industry.

[chengyinoing01]

I think the currency will not be affected, is not only China's national currency users, although the Chinese regulation were carried out for encryption currency in September last year, but a few months the price of the currency was restored.

[Spaffin]

By some accident, it was precisely from September last year when the Chinese government announced its plans to limit the circulation of crypto currency, bitcoin began to grow rapidly in price and this growth did not stop until December, when it reached its maximum price value of $ 20,000. Although China is a large market for crypto currency, because of this position of the Chinese government, its role as a world center of crypto currency began to shift to other countries - Japan, Hong Kong and South Korea. Therefore, this position of restriction and prohibition of crypto currency in China did not lead to anything for China, which never reached its goal, and did not give anything to the world community either. In general, it became clear that the Crypto currency is fully capable of dispensing with China.

[4rzun4]

It may not be possible also bitcoin can die because china, we think positively about the performance of bitcoin.