Are We Dead Without China?

[BingoDog]

Ok, China has made the mess in the market but I still think this is on short term period. With time bitcoin has become more resilient on such influence and not such a big harm will be done. But bitcoin can exist even without China, no matter how bg player they are, because bitcoin is not limited with boundaries or exclusively tied to one state.

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[dhemasm]

Maybe chinese is one of the biggest players in bitcoin, but it does not mean that chinese banned bitcoin will go down completely, hold your bitcoin no need to panic, bitcoin price will rise again later!! For now let's wait what will happen next!!

[Carlsen]

I think that the importance of the exchanges is China is overestimated.
Right now the price goes down because the chinese bitcoin owners fear that their coins are useless once the exchanges are closed. And I assume that many buyers are not sitting in China.
The lower the supply of bitcoins in China, the less important their exchanges become.
That sell out must be over at a certain point because not even China has an unlimited supply of bitcoins.
And then the coins once concentrated in China are distributed over the globe. Really decentralized.

[qwertyup23]

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.

Exactly! Take this as an opportunity to invest since there has been a steady drop of bitcoin prices from the past few days. Expect bitcoin prices to decrease even more after September 30, 2017 since that was the date that China announced that they will stop their operations from large trading bitcoin platforms. Another thing, a lot of people are panic-selling their bitcoins which contribute to the decrease of the price resulting to an increase on the supply market.
To answer your question, China is only one of the many countries were large trading platforms exists. One country alone cannot destroy the whole market even if they are considered one of the largest platforms when it comes to bitcoins.

[Yasirmrd]

Ok, China has made the mess in the market but I still think this is on short term period. With time bitcoin has become more resilient on such influence and not such a big harm will be done. But bitcoin can exist even without China, no matter how bg player they are, because bitcoin is not limited with boundaries or exclusively tied to one state.

Yes this is short term drop in bitcoin price and reason behind this is rumors in media. Chine did not banned bitcoin and in my opinion she is on its way to regulate the cryptocurrency. But suppose it ban bitcoin even than bitcoin will survive and the price will recover.  

[Nameless27]

I don't think china will permanently be out of bitcoin, they're love investing, trading, business and any likes. They can't deprive they're on people when in reality they're making profits out to it. China only want attention and they've succeeded on this one, they want to make a statement that they can control or can affect the markets by any policy they create. It is they're way of making themselves relevant in this bitcoin community. They're tasting the water and now they were ready to do what has been planned. Let's wait.

[christian07]

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.

yes bitcoin is unstoppable dont think negative this is going be alright,at the month of july this year bitcoin go down by half then after a month also bitcoin go high like 70% so dont panic dont sell you bitcoin now then sell it after bitcoin go high,no one can predict the future here in bitcoin but the conveniece that bitcoin brings is praiseworthy so this is going to be alright

[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.

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.

surely it will take time to recover from a FUD of this scale. and I seriously doubt it will take until the regulations, instead as soon as the Chinese exchanges close down and a couple of days go by, things will go back to normal and price will start recovering.
this is not the first time Chinese tried regulating exchanges with strict rules and closing them down for a couple of months. and again China never banned bitcoin and never even banned trading.

[care2yak]

Bitcoin will still survive, I think. The dips that bitcoin is experiencing now is all because of the massive sells in Chinese Exchanges because they have until Sept. 30th to cash out. ViaBTC announced that they're closing on Sept. 30 and so is BTCC. I suppose there are more Chinese exchanges to follow. So when that's all done, it's a good opportunity for us to buy and then perhaps, bitcoin price will pull back and rise higher.

[Rinaze]

This is a very real question and I wouldn't be so sure with people who dismiss it so easily. Slightly more than 70% (despite different entities) of the BTC miners (miners plays a huge role in getting BTC going) are from China. Nobody knows if the recent dump were dumps by general population or the miners. What if the miners are panicking and pulling out too?

Then again, BTC will never be dead but it might be a uphill to climb if BTC wants to keep breaking record high without China.

[genos]

China is indeed a big contributor to bitcoin and other cryptocurrency as well. But i wont believe that all of the China's cryptocoin holders could have really sold their coins. The sudden fall on price can also be attributed to those who have panicked about the news during the past few days. Maybe some real chinese holders are just laughing right now because othe nationalities are selling while they are still holding and buying.

this is just manipulation of china that make everyone panic and some big parts of bitcoin users sell their balance. even you are right that not all of Chinese holders are sell out their coin now. they will getting so many profits from this confusion situation by keep buying and holding. so we should not desperately regarding this "game" our bitcoin community is very big and are not from china only.

[Zogrd]

I do believe that there are also people interested in manipulating the price. I could imagine that some of the regulators/influencers are invested. A nice way to make serious money.

[guclu]

   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.

surely it will take time to recover from a FUD of this scale. and I seriously doubt it will take until the regulations, instead as soon as the Chinese exchanges close down and a couple of days go by, things will go back to normal and price will start recovering.
this is not the first time Chinese tried regulating exchanges with strict rules and closing them down for a couple of months. and again China never banned bitcoin and never even banned trading.

Exactly! But who deosn't love money and stop it being exchanged in their platform? It somehow sounds like they either got a heads up, or they themselves are trying to manipulate the market. Either way, I'm not Chinese and I don't live in there so therefore I do not give a single fuck about it anymore. I just wish I had some more money to buy BTC

[rodskee]

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.

totally banned in china for now are affected because the main source of bitcoin are in china like the big miners are the there, but i believe this happen to bitcoin ban in china are not the sign bitcoin dead, have many more nation adopt the bitcoin as currency maybe in the other country raised the bitcoin and the investor from multi million company invest into bitcoin.

[Leomarco]

i dont think so. we can live without China. im sure until the end of this month the price of bitcoin will rocket soon
just be patient. we can live without china because still many countries use bitcoin. so China can not make us dead

[Allan Ramanda]

is it bad that China's impact stopped its trade with bitcoin? I think that's not possible, although China has a big enough contributor to bitcoin, but it's not just chinese that use this bitcoin, chinese is not the determinant of the end of bitcoin

[michellee]

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.

totally banned in china for now are affected because the main source of bitcoin are in china like the big miners are the there, but i believe this happen to bitcoin ban in china are not the sign bitcoin dead, have many more nation adopt the bitcoin as currency maybe in the other country raised the bitcoin and the investor from multi million company invest into bitcoin.

I don't think that china really banning bitcoin because as far as I know, china have big company bitcoin mining and they can gets bankrupt if this is really happen and they will stop their company. but if this is true, I am sure that the other country will not stop for this and they will trying to back up bitcoin and if china won't giving support for bitcoin so let them go away.

[cryptopreacher]

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.

I believe it's the opposite on the long term, China won't survive without cryptocurrency

[Argon2]

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 did not leave anything. Causing panic are we?

[metenjean]

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.

I think bitcoin can survive without china, why? Because bitcoin was used around the globe, its true that bitcoin miners tend to mine in china due to cheap electricity, and cheap labor but who doesn't? Big companies all used china to become their base manufacturers and even before the start investing in China, they already become global trend, e.g: Appl*, Adi*as, etc. The price may have drop since china also the biggest contributor of it, but i think its just temporary. Bitcoin has grown exponentially since the beginning even before China enter the bitcoin market