Are We Dead Without China?

[Labay]

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.

China is a big country with a lot of people. They hold 20% Bitcoin. If BTC is banned in China, then this will not affect the market. Only 15% to date BTC depressed.
Do not panic we are sure crypto will not be unstoppable.

I think it cannot affect any bitcoin because can we think that if they hold bitcoin until they last breathe, bitcoin cannot be affect much more because the price can be more expensive because of low supply.

[sunsilk]

China is a holder of a great reserve of bitcoin. The crypto currency crisis in China has a big effect in the movement of the price of bitcoin. Bitcoin wouldn't die but it would have a great decline because of China. We cannot control these things from happening but I believe that bitcoin can survive these problems.

They sure is a big great reserve for bitcoin and other crypto currency but if they will continue to do this to bitcoin we can still survive.

We can't depend on them all the time and though they are a big manipulator of economy and they are doing what they want to do in bitcoin, we will not be dead without them.

They must realize it.

[leirou]

I do not agree with this. Even though Chinese peoples or China may contribute to 1 of the worlds largest buyers we still have many countries who wants bitcoin even people from China are trying to find way to join in crypto currency exchanges or trading.

[rajakoin1994]

No need to worry without china..
Because bitcoin is already popular, so even without China we will survive.
But for now the bitcoin progress will be a little late due to china problems.
We just need to patience my friends  

[endlasuresh]

No because price is 4000 again and it is just begin

A bit NO is also here. No doubt that currently 80% revenue of bitcoin is depended on china business but it will not be in future as because bitcoin is going very popular in other countries like India, Australia, Malaysia, Indonesia, Afghanistan, Pakistan, Dubai, UAE etc. I think bitcoin is going to be declared very soon being a global currency. In future counties will need bitcoin nor bitcoin will need counties/

LOL, I think below 20% may depend on China business, but for OP Bitcoin will survive without china also. We are too looking for future development of Bitcoin in India, however still need RBI to approve everything. I am not sure what is happening in my country.

China had some low cost labor, electricity and no taxes for them, so this is the reason for holding business.

[zulkarnaen]

Maybe for now bitcoin users who are in China certainly can not do business with bitcoin freely because of limited government policies issued to bitcoin business people.
whereas we all realize the contribution of china to the advancement of bitcoin has a great effect but not for now.

[Gabz999]

No were not, bitcoin population is not always depending in china although they have da biggest holder in terms of crypto currencies but we can actually survive without them. Bitcoin grows and it depends of how many investors are geting involve there.

[X7]

We are far from dead without China, Japan has already stepped up. I am happy to see this thing decentralise a little bit more tbh. China was starting to get a bit big for my liking.

[alyssa85]

China is a holder of a great reserve of bitcoin. The crypto currency crisis in China has a big effect in the movement of the price of bitcoin. Bitcoin wouldn't die but it would have a great decline because of China. We cannot control these things from happening but I believe that bitcoin can survive these problems.

Where do you get that idea from? Most bitcoin is held by the early adopters (and satoshi). And the exchanges have the next biggest holdings. All evidence is that the chinese miners sell their coins regularly to pay overheads and to get fiat, which is the main reason they bother to mine in the first place

[batang_bitcoin]

I do not agree with this. Even though Chinese peoples or China may contribute to 1 of the worlds largest buyers we still have many countries who wants bitcoin even people from China are trying to find way to join in crypto currency exchanges or trading.

China is one of the big contributors in the economy of bitcoin but we are too far from becoming dead without them. They have the biggest exchange, they have the most miners and holders. Anyway if they will be out of the league, there will be some other players that will take over if those companies in the China will stop operating. But I doubt it that they will let those companies be out of bitcoin.

[Meowth05]

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.

China is a big country with a lot of people. They hold 20% Bitcoin. If BTC is banned in China, then this will not affect the market. Only 15% to date BTC depressed.
Do not panic we are sure crypto will not be unstoppable.

Precisely, we know that China is the most populated country in the world meaning there's a huge percent here in cryptocommunity is came from there and if it will be get banned then it will be a big loss from bitcoin however, even if it happens bitcoin will recover and it will become enourmous again as it before since as time passes by cryptocommunity is continue growing.

[no0dlepunk]

China plays a huge role with the Bitcoin because they own many of the mining rigs, but I don't agree to the idea of us dying without them. Every news can trigger weak hands, and it just so happened (I assume) that when people heard that China has announced their campaign against scammy ICOs and exchanges, they who bought bitcoins at around $3000 have decided to take profit and reduce the risk of losing gains.

I assume that the price drop was because of the Chinese and some others - not the Chinese alone. Therefore, they are not the major factor affecting the Bitcoin price.

PS. I think the miners would continue mining... keep in mind that the Chinese are known for producing products for other countries. 

[superhelper]

Is the whole world stagnant without China? You should know that the china is may only a big country of the world. The whole world is not dependent on China, but China is dependent on the whole world! ‍How we are dead without china?

[doomistake]

China is a holder of a great reserve of bitcoin. The crypto currency crisis in China has a big effect in the movement of the price of bitcoin. Bitcoin wouldn't die but it would have a great decline because of China. We cannot control these things from happening but I believe that bitcoin can survive these problems.

There is no doubt about that, that china is a holder of bitcoin. But it doesn't mean that the whole future is on the hand of the Chinese government, the price did goes down because of too many people who sell their bitcoin on the low price being scared to lose more profit if they will not sell it early. This cause a huge whale on the market, but recently, bitcoin's price is going up again.

I'm sure that those people who sold their bitcoin on low price is regretting their actions. Lucky me, I'm just relaxing and watching bitcoin's price to pump again amd reach anoter HIGH price.

[kkofor]

China is a holder of a great reserve of bitcoin. The crypto currency crisis in China has a big effect in the movement of the price of bitcoin. Bitcoin wouldn't die but it would have a great decline because of China. We cannot control these things from happening but I believe that bitcoin can survive these problems.

There is no doubt about that, that china is a holder of bitcoin. But it doesn't mean that the whole future is on the hand of the Chinese government, the price did goes down because of too many people who sell their bitcoin on the low price being scared to lose more profit if they will not sell it early. This cause a huge whale on the market, but recently, bitcoin's price is going up again.

I'm sure that those people who sold their bitcoin on low price is regretting their actions. Lucky me, I'm just relaxing and watching bitcoin's price to pump again amd reach anoter HIGH price.

bitcoin is the future then if China want ban it let they do it. we maybe have hardtime but we can live without china easier. that is the thing they should remember

[bajing]

I think isn't, the biggest trade of bitcoin is not in china but japan because after japanese legalize bitcoin, of course the demand of bitcoin increased and also i heard word that trader from china can do trade at japan exchanger site.

[KesoNie]

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.

China is a big country with a lot of people. They hold 20% Bitcoin. If BTC is banned in China, then this will not affect the market. Only 15% to date BTC depressed.
Do not panic we are sure crypto will not be unstoppable.

We can say that china have a massive effect on bitcoin because almost 15 or 20 percent of people in china used bitcoin. But bitcoin can't dead without china because there's more country that the bitcoin is legal its only affect the economy of bitcoin. Maybe the currencies of bitcoin must fall down but dont panic cause there's no one country destroyed bitcoin except if all country banned it.

[cryptozeal!]

I'm sure bitcoin did not begin in China. So no cryptoverse ain't dead with or without China or any other Gvt for that matter. Remember crypto was born out of a desperate need to create a totally decentralized system. Don't be carried away with FUD..

[badungs]

no man, we still do our activity like we do here
maybe bitcoins price down cause it, but it will be rise again

[Hexah]

China may has the vast influence in terms of bitcoin since they are the biggest miners of bitcoin and I think it is stated here that they have the 20% of bitcoins totality but I don't think so even they own that bitcoin will still survive without them. It is just like China is the government and he can't control such cryptocurrency that's out of reach for government's intervention.