Are We Dead Without China?

[RoommateAgreement]

China is nothing except a small part of this gigantic world.

you can simply put up a survey here to see how many Chinese are among us versus how many other people from other countries are also among us who are heavily involved with bitcoin.

apart from that, China never banned bitcoin, bitcoin, trading, mining,... is 100% legal in China and it was actually officially announced that bitcoin is 100% legal and you can continue trading it.
they just banned ICO scams and shady exchanges.

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[9parlament9]

it is definitely not the case
cryptocurrency is the future, even if china is not in, the world still move
just like facebook youtube google

the strong demand will find its place

[9parlament9]

China is nothing except a small part of this gigantic world.

you can simply put up a survey here to see how many Chinese are among us versus how many other people from other countries are also among us who are heavily involved with bitcoin.

apart from that, China never banned bitcoin, bitcoin, trading, mining,... is 100% legal in China and it was actually officially announced that bitcoin is 100% legal and you can continue trading it.
they just banned ICO scams and shady exchanges.

I beg to differ for the trading part

China government just announced they will banned all cryptocurrency trading center in China, bitcoinchina.com etc. at the end of September

That's the latest news!

[daringdiscovered]

China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.

In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.

So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.

Well in my opinion China closing of exchanges affected in someways but they are only one country and Crypto Currency is operating worldwide for sure Bitcoin would be in adjustment stage right now because of those news in China but it will still continue and not even China could stop it.

It's just a FUD now, once all those in doubt with bitcoin deminish,then all that believes in bitcoin remain. It wil start to boom again. It will soo. Pump after awhile.

That is what will happen for sure, after this big whale that we are having right now in the market but eventually this price will go up after this issue of banning ICO in China. We just have to believe on bitcoin and don't do this panic selling because we might regret it in the end.

[Karmakid]

We could still continue wuthout china,
Crypto currency could live with us yeah china is a huge help with bitcoin,
It has a huge amount of investor and help us make it this far.

[yndye]

it is definitely not the case
cryptocurrency is the future, even if china is not in, the world still move
just like facebook youtube google

the strong demand will find its place

We are not dead without China. There may be mining farms in there but then I believe they will still continue operations? Chinese people can still have bitcoin and I believe that some of them still hold bulk amount of bitcoin. China is just a small part of bitcoin market now because many have known bitcoin so it is widespread throughout the world. The recent drop in prices is because of people who panic because of herd mentality and those who believe bitcoin can still stand up again hold their coins not budging about the news.

They have ban the biggest sites like google and facebook but still these are the biggest sites now. They can create their own sites and coins but the bitcoin community will continue to thrive and in the long run maybe it will have a good effect to bitcoin because they cannot mess with bitcoin again if ever they would totally ban it.

[haroldtee]

As much as China has had a lot to play in bitcoin's development with the most of the huge mining rigs found there, they are just one piece of the whole part and if they even decide to ban bitcoin today, it can never affect the value in long term. I guess too much recognition has been given to them already and that is why some people are responding with fear to the news, hence the panic selling.

[haroldtee]

Code:

Re: Are We Dead Without China? 

Hahaha

Are you crazy??

This is a huge bus and there are so many passengers on the way, they are waiting for their bus to come..

If Chinese would like to get off!! Please go ahead, there are more on the way to take that sit sir;)

Very much more! Even the Chinese whales themselves will not even mind moving to another country that enables them continue with their venture. Not like they are trapped in their country. Having tasted bitcoin, it is obviously hard to say bye bye, we ain't doing again. All these news and all are just gimmicks for them to manipulate the market.

[CerealKing]

in my opinion this question and also the dip of recent days only proves that people have never understood what bitcoin is and what bitcoin does! they have all been just hanging around hoping to get more fiat just for buying something that is called bitcoin. it might as well be anything else, they would never care.

and this dip is good because it flushes these type of people out of the market and leaves those who understand bitcoin. THEY deserve to own more of this precious scarce currency not those who look for more fiat.

You're the type of people that Satoshi Nakamoto would hate if he was still around. Everyone thinks they get Bitcoin but in reality they know nothing. It's a joke. Most people that love bitcoin are millennials and know nothing about investing and only know that they made a few bucks on bitcoin and now they're in love due to the sheer fact they're making REAL money ( government backed money, not bitcoin )

[Kakmakr]

China banning Bitcoin will definitely have a huge impact on the price. In some way it might be a blessing in disguise if they banned Bitcoin. China has enough bitcoins and hashing power to manipulate the whole experiment and this can only harm the network. When China ban Bitcoin, their monopoly over this experiment is broken and smaller countries can enter this scene with much less competition.

We also need a more equal distribution of bitcoins and hashing power to be truly decentralized and to have less volatility in the price. ^smile^

[wilhb81]

Not at all my friend. What difference does it make other than traders's Bitcoin reducing in value. Smart traders can profit alot from this by buying all the dips
Dip 1 — you buy some Bitcoin
Dip 2 — you buy more
Dip 3 — you buy again
And sell when price goes up. sell again when it goes up again.. .
Leaving the remaining Bitcoin(40—55%) on long-term.


People like us who get paid in Bitcoin will have their pay adjusted upward.
Buyers and sellers of goods and services will adjust their prices too.

Totally agreed with your opinion. Each time BTC dips - it's the moment where traders buy some cheaper BTC. The more it dips, the happier they are

[Herbert2020]

no Tom, we are not dead without China.

in fact i do believe that the market can have a much healthier course if China were to disappear and never come back to the cryptocurrency market. because for years we keep hearing the same thing about Chinese government banning bitcoin and it has always been a lie just like this time. it keeps repeating and the only effect is big swings which increases the volatility and that is bad for a currency.

[arsalan.afandi]

China has got the power and it is proved with the floating drowning price of bitcoin
Now see where will bitcoin go. bitcoin is going to die

[michellee]

of course we can survive without china, there is many country is using bitcoin, I mean many people because there is only few country that makes bitcoin legal. I am sure that there will be many people which want to using bitcoin as they know that bitcoin is the big opportunity they can have.

[anklas]

I don't think so Bitcoin can leave without China because it is circulating all over the world. Yes we know Chinese are very good investors but still there's a lot of investors who will invest for sure in bitcoin.

[krishnapramod]

China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.

In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.

So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.

We still don't know would it be a total ban or the Chinese government is planning to implement new regulations on bitcoin exchanges and resume trading. Something like this happened earlier this year, February 2017, when three of the biggest Chinese exchanges paused withdrawals and resumed services after about four months with new regulatory guidelines.

During this period the bitcoin price plunged, but recovered gradually as Chinese traders moved to OTC/P2P platforms.

https://coin.dance/volume/localbitcoins/CNY

First of all, I don't think the Chinese government would permanently shut down exchanges or ban bitcoin, more likely temporarily. We already have seen the impact of PBOC temporarily suspending exchanges. China is a big market, a permanent ban would be a bit more worse, but still wouldn't be worse enough to have a permanent impact on bitcoin. The market would gradually recover.

[Rubik777]

   The problem is not only China btc ban. The problem is we don't really know if this isn't only the beginning  . What will stop other governments to do the same as China? This is big punch in BTC reputation. None wants to buy something that can possibly be banned after some months. People are losing trust in BTC=>demand decrease=>price sink. I don't think trend will turn until some day all countries fully legalize BTC which probably will not happen anytime soon, bc we already said "governments and banks don't like crypto".

[NorrisK]

Stuff like this has happened so many times.

China banning bitcoin, Russia banning bitcoin.

In the end, bitcoin only becomes stronger when the weak hands are out and the scare wears off.

[Pursuer]

   The problem is not only China btc ban. The problem is we don't really know if this isn't only the beginning  . What will stop other governments to do the same as China? This is big punch in BTC reputation. None wants to buy something that can possibly be banned after some months. People are losing trust in BTC=>demand decrease=>price sink. I don't think trend will turn until some day all countries fully legalize BTC which probably will not happen anytime soon, bc we already said "governments and banks don't like crypto".

first of all China did NOT ban bitcoin. you are spreading FUD here with your comment.
and so far other government has been accepting bitcoin pretty nicely without any issues. and everyone is trying to regulate the big services that are handling large amounts of money (fiat) because you can not run any business without being regulated. that goes for any kind of business not just bitcoin related ones.

also the demand never decreased, it is constantly increasing. the only thing changes is the FUD and the panic that it is causing among the newbies who don't understand bitcoin. and that will be a short period of time.

[Rubik777]

   The problem is not only China btc ban. The problem is we don't really know if this isn't only the beginning  . What will stop other governments to do the same as China? This is big punch in BTC reputation. None wants to buy something that can possibly be banned after some months. People are losing trust in BTC=>demand decrease=>price sink. I don't think trend will turn until some day all countries fully legalize BTC which probably will not happen anytime soon, bc we already said "governments and banks don't like crypto".

first of all China did NOT ban bitcoin. you are spreading FUD here with your comment.
and so far other government has been accepting bitcoin pretty nicely without any issues. and everyone is trying to regulate the big services that are handling large amounts of money (fiat) because you can not run any business without being regulated. that goes for any kind of business not just bitcoin related ones.

also the demand never decreased, it is constantly increasing. the only thing changes is the FUD and the panic that it is causing among the newbies who don't understand bitcoin. and that will be a short period of time.

I highly hope you're right mate! What I mean is trend will not turn until regulations come. We'll see, but this insecurity will not lead to anything good! It will pass for sure its only matter of time.