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Author Topic: Will Bitcoin Die Because of China?  (Read 7804 times)
LyQaN
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October 21, 2017, 07:54:59 AM
 #501

yes,china is a major contributor towards mining of bitcoin, if china banned the process it definitely create huge impact on market,but bitcoin will not end because  of this.other countries are also there who contributes toward it,it will surely take time for other countries to match the level but slowly bitcoin will gain its value again.developing countries like  India,bangladesh and can provide low cost resources.


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October 21, 2017, 08:03:21 AM
 #502

the key is truly Bitcoin works
bitcoin will not die because of china, although chinese is the most bitcoin user this does not mean anything in btc depab period. it is precisely China that will be difficult because the source of income from their people from bitcoin this will make their people's economy worse off.

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October 21, 2017, 08:40:30 AM
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Bitcoin prices plunged about 13 percent after one of the biggest exchanges in China said it will shut down its operation.BTC China said in a tweet Thursday that it will close down its operations by Sept. 30 as Chinese authorities crack down on cryptocurrencies.China is tightening its grip on the burgeoning currency.On Sept. 4, Chinese media outlet Caixin reported that regulators banned companies from raising money through initial coin offerings (ICOs), referring to them as an unauthorized fundraising tool that may involve financial scams.Since then, bitcoin has lost more than 20 percent of its value.
But we can't say that the bitcoin will die because of China

Hi everyone, We want someone who can help us to manage our bitcointalk announcement page .Please contact us in our telegram handle @BoonTech
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October 21, 2017, 12:06:28 PM
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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 surely won"t and it is already proven. Bitcoin is ble to recover and still manage to be more expensive. Form being down to 3300$ it is now at 6000$ and is still increasing.This clearly shows that Bitcoin can still be successful without China and won't die just because China left even if it is one of the major investor.
Only the Chinese government want to make the price of Bitcoin dump more, the Chinese investors have transfered to HongKong when the Chinese government banned the cryptocurrency market in their country. Therefore, the Chinese investors still can support for Bitcoin until today.

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October 22, 2017, 08:16:17 AM
 #505

yes,china is a major contributor towards mining of bitcoin, if china banned the process it definitely create huge impact on market,but bitcoin will not end because  of this.other countries are also there who contributes toward it,it will surely take time for other countries to match the level but slowly bitcoin will gain its value again.developing countries like  India,bangladesh and can provide low cost resources.
No  it’s not true that bitcoin can die without china because bitcoin is recently arrived in Thailand and the quantity of countries are going to increase day by day bitcoin don’t care about china because some countries already legalized bitcoin and now bitcoin is very strong and power full currency around the world with high price so no more china.

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Redanim
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October 22, 2017, 09:30:02 AM
 #506

Ho I saw some days ago China banned mainland residents from trading in cryptocurrencies on exchanges and made it illegal for Chinese people, how I understand chinese people were the most active nation who was buying bitcoins and mining, loosing them it will be big losses but bitcoin will not die.
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October 22, 2017, 04:49:01 PM
 #507

Ho I saw some days ago China banned mainland residents from trading in cryptocurrencies on exchanges and made it illegal for Chinese people, how I understand chinese people were the most active nation who was buying bitcoins and mining, loosing them it will be big losses but bitcoin will not die.

this already happened a few weeks ago, and price dropped indeed, but it is now already much higher than it ever was before China dropped out.
The word in the Netherlands is that China is reconsidering the block of BTC.
Well nobody knows what is going to happen, but either the Chinese found a way to by-pass the block or we no longer depend on the Chinese buyers!

                                
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bitaltcoin
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October 22, 2017, 05:01:49 PM
 #508

No way, in the international market many countries other than China are participating and using the platform of bitcoin so it will not die because of China. Other sources are there to increase the popularity and usage of bitcoin so wouldn't be a problem without China
cryptoid2017
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Today at 02:30:05 PM
 #509

What about the election in China? Do you see any impact? Whole market goes down today, including btc.

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