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Author Topic: Are We Dead Without China?  (Read 16700 times)
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September 28, 2017, 01:31:20 AM
 #441

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.

If you are going to look at the market price right now , You will notice that it is already going back to normal and it was periodically increasing, So cheers to those who invest at the downtime, They are all so lucky.

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September 28, 2017, 01:37:27 AM
 #442

I dont think that we are "dead" without china, but it was obviously one of the most biggest markets that were buying/selling bitcoins and altcoins, and 3 of 6 new ico's were born in China. I dont know why, but almost all the countries in Asia are very introduced in bitcoin, i dont know why it doesnt happen in Europe, or America, it is a little bit weird.

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September 28, 2017, 01:46:04 AM
 #443

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.
Although the banning of bitcoin in China occurs that has a direct effect on the bitcoin's price rate, I think that was not an enough issue to state that bitcoin will be "dead" and the bitcoin users will be totally affected just because we loss one of the major contributors wherein huge potential investors can be found. China is just a part of the bitcoin's big community so there is no reason for bitcoin to die since there is still a large population and countries remaining to support bitcoin and those are enough for bitcoin to stand again and regain its loss from the recent happening.

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September 28, 2017, 02:27:08 AM
 #444

I dont think that we are "dead" without china, but it was obviously one of the most biggest markets that were buying/selling bitcoins and altcoins, and 3 of 6 new ico's were born in China. I dont know why, but almost all the countries in Asia are very introduced in bitcoin, i dont know why it doesnt happen in Europe, or America, it is a little bit weird.

China and the other Asian markets such as South Korea and Japan are very important for Bitcoin. But what can we do if the government bans Bitcoin exchanges? It is a hard decision, but we must be ready to move forward without China. And who knows? China's exit from the Bitcoin scene may be having some positives for the crypto-currency as well.

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September 28, 2017, 03:07:50 AM
 #445

in my opinion not, because china is not the only bitcoin user so without china bitcoin still running.

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September 28, 2017, 04:34:41 AM
 #446

Bitcoin is rising again a couple weeks or so after China has implemented their changes. So at this point things are holding up. I would imagine that if China was a make or break situation for bitcoin that we would have been seeing more and more poor performance, but we have been seeing some stability and increases of late. Nothing in this post is meant to be investment advice, but things are looking more positive recently.

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September 28, 2017, 04:46:45 AM
 #447

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.
Based on what we are seeing and how Bitcoin is going, we are not. Losing China is indeed a major loss and in fact, it resulted for crypto market to fall hard. And good grief!  Bitcoin is now recovering from what happened. Its value dropped from 4800$ to 3300$ and currently it is again on 4200$ and continuously increasing. It only proves that Bitcoin can still be successful without China.

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September 28, 2017, 04:48:00 AM
 #448

it is more like "China is dead without us"!

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September 28, 2017, 05:35:59 AM
 #449

in my opinion not, because china is not the only bitcoin user so without china bitcoin still running.
I agree, bitcoin is independent with anyone including china, bitcoin is decentralized so that everyone is free to use the bitcoin. If the bitcoin die without china surely current prices 1 btc = $1, and it will never happen.

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September 28, 2017, 05:52:39 AM
 #450

China want to regulated financial activity within China.  They won't hold back technological innovation.

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September 28, 2017, 06:10:29 AM
 #451

china back again next month. so i think BTC go to the top to the bottom again.

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September 28, 2017, 07:30:48 AM
 #452

china back again next month. so i think BTC go to the top to the bottom again.

That is going to happen for sure, bitcoin dillema is over because of this China banning ICO, but the price of bitcoin is recovering from its huge DUMP and we are all hoping that it is going to hit $6000 this year, when that happen, I'm sure our New year will be so happy and full of blessings. So no matter what happens, I'm just going to hold my bitcoin.
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September 28, 2017, 07:44:03 AM
 #453

First of all, I want to say that China will somehow come out of this situation by not banning Bitcoin. But if this happens, nothing global with the crypto currency will happen, because it does not hold to one China.
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September 28, 2017, 07:52:01 AM
 #454

i think we still can survive without china because people who use bitcoin not only china still many other countries.

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September 28, 2017, 07:59:07 AM
 #455

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.

Once upon a time they have the largest market share in bitcoin that's why when they declare a bitcoin ban few years ago, market was affected very much and bitcoin's price has a downtrend but it's a different story now. There are more bitcoin users all over the world and because of the power of technology, we are more aware of the situation than before that's why even if several people attack bitcoin, still it goes back up because there are more people who believe in the value of bitcoin even if China will not be included in the market share. They have ban several sites in their country like google and facebook because they have made their own version but those companies are growing without the need of them and it will be the same story with bitcoin.

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September 28, 2017, 08:03:56 AM
 #456

i think we still can survive without china because people who use bitcoin not only china still many other countries.

That may be true, but the number of users in China is huge. It can't be easily made up by the other nations. And the most important thing is that China was one of the high growth areas for Bitcoin, along with India and Japan.

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September 28, 2017, 08:20:15 AM
 #457

look, what happened to Bitcoin since they banned Bitcoin initially the price dropped but now its price has gone up again, community lovers Bitcoin pretty strong so even though there is one country that Bitcoin banned is okay, do not be afraid ..

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September 28, 2017, 08:29:55 AM
 #458

look, what happened to Bitcoin since they banned Bitcoin initially the price dropped but now its price has gone up again, community lovers Bitcoin pretty strong so even though there is one country that Bitcoin banned is okay, do not be afraid ..

I guess the prices recovered as the Chinese users moved their coins to other exchanges (especially those in South Korea and Japan). In the end only the Chinese government is going to lose. They will lose tax money and employment opportunities to South Korea.

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September 28, 2017, 08:33:10 AM
 #459

i think we still can survive without china because people who use bitcoin not only china still many other countries.
I think bitcoin exists in different part of the world and has contributed a lot to many sectors.I firmly believe that bitcoin can still strongly survive even without China,because it is not only dependent with China or with a certain country. The progress of this campaign does not depend as to where you came from or what your societal status is.

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September 28, 2017, 08:45:33 AM
 #460

I think we'll see a dip right before the end of october, as that's the point when two of the three biggest exchanges in China will disable the ability to exchange btc to Yuan
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