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Author Topic: Are We Dead Without China?  (Read 16700 times)
JohnBitCo
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September 25, 2017, 09:44:00 AM
 #401

First of all China didn't want to ban bitcoin but to regulate the exchangers and these are two different things. Second, China is big player but not the only one and I strongly believe that too much importance is given to happenings in China but this is not the only thing that determines bitcoin market, don't forget that.

China want to regulate the bitcoin but they used the wrong approach. First they said they will ban all ICO, which is not good. Only the scam ICO should be ban and the regularity authority should be setup which may monitor the ICO. They announced in such a way that they are banning ICO and bitcoin, which created panic in people for little time. The price is recovering means that bitcoin is not depended upon china alone.
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September 25, 2017, 09:49:54 AM
 #402

Bitcoin can survive without china, it will be hard at first but bitcoin will continue to grow. China didn't ban bitcoin in the first place, they want to regulate it so they can control the money flow in their country.

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September 25, 2017, 09:56:40 AM
 #403

This is not true cause chaina has only 20% on bitcoin . so it is not like that if chain a ban bitcoin or ICO crypto world will die. 80% still is the global market . so relax and see .

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September 25, 2017, 10:03:45 AM
 #404

with simple word we see bitcoin price back to rise up so that answer is no
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September 25, 2017, 10:28:22 AM
 #405

I don't think so. aren't we alive without China?
When Chinese government stated regulating on the ICO and other cryptocurrencies exchange, especially they have focused on the Bitcoin market. so that many Chinese people have left this platform due to getting panicked. in the meanwhile, Japan has caught the top position regarding Bitcoin capital. so it doesn't matter if China stays or not with this system.

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September 25, 2017, 10:39:58 AM
 #406

China trader need us and us need China trader but remember. China trader can't live without us. They need transfer their money to another country. so they always need us

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September 25, 2017, 10:40:07 AM
 #407

with simple word we see bitcoin price back to rise up so that answer is no
Totally agree bitcoin is decentralize, all of comunity around the world who run the bitcoin, bitcoin is not depending on one country like China although many investors from China who invested large of money in bitcoin, but does not mean bitcoin is dead without China, many people around the world who invested money on bitcoin too which are America, Europe and other. the fluctuation of bitcoin price is always happen on every time, it always going up and down.
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September 25, 2017, 10:41:16 AM
 #408

First of all China didn't want to ban bitcoin but to regulate the exchangers and these are two different things. Second, China is big player but not the only one and I strongly believe that too much importance is given to happenings in China but this is not the only thing that determines bitcoin market, don't forget that.

China want to regulate the bitcoin but they used the wrong approach. First they said they will ban all ICO, which is not good. Only the scam ICO should be ban and the regularity authority should be setup which may monitor the ICO. They announced in such a way that they are banning ICO and bitcoin, which created panic in people for little time. The price is recovering means that bitcoin is not depended upon china alone.

Bitcoin doesn’t really depend only in China. China is indeed a big contributor to bitcoin and other cryptocurrency. It has a major impact in world economy. But bitcoin is decentralized and can’t be controlled by anyone else. Even though the China was one of the reasons why bitcoin’s price drops, still it cannot break bitcoin. Everything will be back to normal anytime soon.

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yugyug
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September 25, 2017, 10:53:19 AM
 #409

We don't need China in the first place, China has no direct participation and involvement for the development and conceptualisation of bitcoin from scratch. China became famous due to it cheap electricity cost and cheap mining hardware, nevertheless before the Chinese dominant of bitcoin industry there were European and Japanese that dominated bitcoin industry like KNC miners, CEX.io mining pools, MTGox trading. On that time the bitcoin activity is still doing fine. When China join the bandwagon the mining difficulties got fucked, mining industries was screwed by China. So it is much better to eliminate China from the bitcoin scene it doesn't much affected to us.














 

 

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nkarm1
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September 25, 2017, 11:15:03 AM
 #410

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.

Indeed China contributes a big influence with the current position of bitcoin today. Let's say that they have the 70% or more number of miners (according to my research, pm me for the source) and some giant mining pools are China based. So we are screwed for sure if they banned it. So the question is would it still survive if we eliminates China from the frame? For sure yes(but we are doomed). Can we eliminate china from the picture? A big NO, before we can eliminate them they will eliminate us. Surviving with those scenario will be hell on hell situation for bitcoin. We really need many countries to adopt bitcoin as soon as possible to minimize those stated scenario if ever those things happened. Let's just be hopeful that they will not ban bitcoin so it would be a winwin situation for each and everyone of us.
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September 25, 2017, 11:22:42 AM
 #411

We don't need China in the first place, China has no direct participation and involvement for the development and conceptualisation of bitcoin from scratch. China became famous due to it cheap electricity cost and cheap mining hardware, nevertheless before the Chinese dominant of bitcoin industry there were European and Japanese that dominated bitcoin industry like KNC miners, CEX.io mining pools, MTGox trading. On that time the bitcoin activity is still doing fine. When China join the bandwagon the mining difficulties got fucked, mining industries was screwed by China. So it is much better to eliminate China from the bitcoin scene it doesn't much affected to us.
I agree with you that without the Chinese market, Bitcoin will certainly be more stable and stable over time. China is trying to dominate the Bitcoin market because they can do everything to achieve that and we will not let them do it.

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September 25, 2017, 11:31:03 AM
 #412

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.

Of course we can, bitcoins are powerful. Yes china is a big country thats why the value drops that huge amount. But it is just the same old nightmare like what happened before the segwit. When the value drops doesn't mean that the bitcoins will be destroyed. This is a nig company and besides there are still countries who are using it like us. And those country who are using it are more dominant than those country who banned it. I know it only takes time for the bitcoins to recover and they need a lot more support in us in this time. Dont give up on bitcoins.
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September 25, 2017, 11:34:19 AM
 #413

The question in which everyone are interested is can bitcoin reach a mark of $5,000 again, now without the Chinese market. I have a quite optimistic opinion. There is a growing demand for Bitcoin. Despite the fact that China was an important market, Bitcoin can and will reborn without it. Digital assets are a global phenomenon, and now we already see how Bitcoin started to grow again. We should not turn a blind eye to the prohibition of Bitcoin in China. But we also should not allow ourselves to lose faith in Bitcoin because of it.

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September 25, 2017, 11:44:59 AM
 #414

We should remember China isn't first country invest into bitcoin. Japan will replace China soon

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September 25, 2017, 12:06:49 PM
 #415

We should remember China isn't first country invest into bitcoin. Japan will replace China soon

Japan in terms of trading has long exceeded China. But despite this negative news from China very badly affect the price of bitcoin. People are not psychologically ready for the fact that China will take the second place in the crypto currency

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September 25, 2017, 12:09:56 PM
 #416

No. Bitcoin will still flourish even without China. China may be a big part of it due to the miners in there but you can never truly stop Bitcoin. The only thing China banned are ICO's and exchanges, not the currency itself. There is already news that people in China are using VPN's to be able to access exchanges.
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September 25, 2017, 12:11:03 PM
 #417

Yes, they are a power house, but recent events show that without China bitcoin will move on. to answer your question, bitcoin is very much alive, china or no china.

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September 25, 2017, 12:16:51 PM
 #418

Bitcoin will still bitcoin even without China. We are still going to earn and I guess bitcoin will still increase in the future, it will takes time but for sure its worth the wait. So hopefully, a lot of us will have a long patience.

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September 25, 2017, 12:20:29 PM
 #419

No, because Bitcoin and cryptos are the money of internet, which will stay for a long time.
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September 25, 2017, 12:23:29 PM
 #420

No, because Bitcoin and cryptos are the money of internet, which will stay for a long time.

But are you sure Bitcoin and cryptos will be there forever? I have a bit of a high doubt!

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