Are We Dead Without China?

[Ayiranorea]

As we can see from the past month where the FUD's caused by the china drama, bitcoin is still holding its ground. This is a testament that it can survive without china and besides, there are many countries out there that would gladly take the 'role' of china, like japan.

Bitcoin is not dependent on any country or organization, it can stood still as long as it patronize by many, and it still have demands and development that needed by many.

Yes, bitcoin might have not dependent on any of the country for its survival. But when we think of China, surely a large user base and mining is available. Looking the present scenario I expect bitcoin surely needs China to make it grow efficiently.

[centralbanksequalsbombs]

LOL

Bitcoin is mined in Iceland.
Bitcoin is mined in Canada.
Bitcoin is mined in Venezuela.
Bitcoin is mined in Russia.
Bitcoin is mined in USA.

HAHA China is irrelevant! China or any country's government for that matter should all go ahead say bitcoin is illegal and it will do nothing to Bitcoin. In fact they might as well all say bitcoin is legal and that will do nothing.
Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter.

Bitcoin has freed, continuing to free, and tomorrow will still free many people globally from the centrally controlled debt-based fiat system that confiscates your wealth with inflation and tax. Bitcoin is a TRUE savings vehicle. Buying Real Estate, Hospital healthcare, Global traveling, College Education gets cheaper as you hold Bitcoin.

And it has become clear that...
Bitcoin CANNOT be controlled.

Bitcoin cannot be made legal. Governments may still attempt to do so.

Bitcoin cannot be made illegal. Governments may still attempt to do so.

Central banks already control and manipulate Stocks, Real Estate, Gold, Interest Rates. They have no such domination on Bitcoin and wont.


On the opposite end of the spectrum the global fiat (US Dollars, Indian Rupees, Chinese Yuan, etc) bubble system broke a couple of decades ago.

Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses

Bitcoin, systemically, is free from these burdens.

Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalk.org/index.php?topic=1853019.0

CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping

https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/

[fishbonez11]

No, bitcoin is not dead without China. It is still alive and still with a bright future. China is a big country with a lot of population and mining, etc. But I believe that many other countries can adapt and do the same as China did before. There are still other countries where we can mine.

[citslaud]

Bitcoin has come to stay, though there might be several issues in its stability and many government bodies might try to fight it because it's not within their control, but sooner they will have to give in like the saying goes- "If you can't beat them, you join them"

[Klausi]

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 only a help or a contributor to make bitcoin value more strong and stable but if they will not totally support bitcoin it does not mean that bitcoin will going to die. China is against the whole world in talking of bitcoin contributors is just like 1% against 99% even if they have the biggest percentage still it cannot guarantee that bitcoin will going to die in their hands. As we can see now at the value trend still bitcoin value is average climbing even we have Chinese issues.

[xbl1008]

it can stay alive , bitcoin even though china had been the power house they're is no way they are selling bitcoin see these people are business oriented ones they know what's good to buy through the years and gained from it they can make fuds out of it but they can't leave it alone nothing can replace bitcoin as of now

[coinstalker23]

I dont think that the bitcoin community will sieze just because china bans it in their country. Because there still many big countries supporting the trading industry of bitcoin. Maybe China is making a rules and regulation about how the people of china can use it .

[Snaic]

It seems that China almost died for the public without a crypto currency. The Chinese government apparently decided to abandon its draconian methods to limit and ban crypto currency. The latest news from China suggests that there are only going to carry out certain regulation of the crypto currency, but refused to completely prohibit it.

[BurhanPSG]

People in china country are very smart in making bitcoin prices down, ico ban in china is very harmful but is it possible they will continue to ban bitcoin trade there.
I think no, because they definitely want to get more profit

[Khristian]

i think china is powerhouse country in bitcoins the number of people in china most  peaple of china probably using bitcoin china is good in the industry of bitcoin and mine.even they ban of the goverment of china  the bitcoin i think there are countries that invest in bitcoin.but china is a huge loss because the value of each bitcoin decreases

[PalindromemordnilaP]

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.

It's like "they don't really know what hit them" scenario. Banning Bitcoins will not affect the cryptocurrency world or even weaken the solidity of bitcoin because i don't think Chinese owns the biggest percent of Bitcoins in the market. Yes they can ban Bitcoin forever but doesn't stop BITCOIN. Though bitcoin suffers a major downfall on that action by China, still, "The currency for the people" has its value skyrocketed once again and that its value may even reaches 5K USD before this year ends.

[JohnBitCo]

We can still survive without china.

[Omega Weapon]

Banning Bitcoin might elevate the price. People will continue selling it on the black market and start smuggling vouchers into the country. People will have to pay premium over the market price. Everybody will forget about China in a couple of months.

A ban on something always makes the price of a product to go up, but I do not think bitcoin is going to forget abut China, if you can sell a few hundred dollars above the market rate you can sure many people are going to want to buy bitcoin in an exchange and then try to sell them to Chinese investors and holders, it is going to be a risky endeavor and something I will never do, but if China banned bitcoin then that scenario is likely.

[Kevondo]

that not happening now. we didn't need china anymore.
bitcoin price increase higher without china

It is right that the currency off the bitcoin can never be affected by the other currency. The growths of the bitcoin are very high and wait for the prediction that all are going in the favor of the bitcoin. The importances of the crypto currency wil never get down and it will never be so low for the lack of the money.

[An0nyMoose]

Nope. China is a large part of Bitcoin, but at the end of the day they are still only a single country. IF they ban Bitcoin, it is only bad for them.

[Qunenin]

Why would you ask? Obviously the world has had more than enough time to make it down to the news readers. I think it takes about 34 hours to go from the truth hunters to the news readers. Late in the game is horrible place to be isn't it? Anyway, the negative facts are that not everyone is going to be on track with their information and that is always going to hold the rest of us back.  No bitcoin is dead because of china withdrawal from the scene.

[Anyobsss]

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.

In my opinion, Bitcoin can survive without China. Yes, China is one of the biggest contributor in bitcoin industry holding like 20-30% of bitcoins but I personally think Bitcoin can survive without the aid of china.

[mrayazgul]

Why would you ask? Obviously the world has had more than enough time to make it down to the news readers. I think it takes about 34 hours to go from the truth hunters to the news readers. Late in the game is horrible place to be isn't it? Anyway, the negative facts are that not everyone is going to be on track with their information and that is always going to hold the rest of us back.  No bitcoin is dead because of china withdrawal from the scene.

But, the down side is that there is always a set of those that take the bad information they have to the trading floors and makes the killing for the rest of us. They use these news to fear up the market and make people sell at lower price, but infact they are buying at lower prices and soon when bitcoin will rise to moon, they will be the ones gathering profit.

[Isaac 999]

with simple word all things that china do is make Japan take her place and be bitcoin world leader

[Visbay]

Lol this whole bullshit "China is banning bitcoins" is already priced in at this point. We're down 30%± and I highly doubt that 30% of bitcoins are even owned by Chinese people. You think every single Chinese person sold? That's a joke. There are massive bitcoin farms and tons of bitcoin supporters. It can't be stopped. They were way too late.

Yes that's true, not only china is involved in the bitcoin, bitcoin is currency of the world. Yes due to banning of bitcoin in china the supply of decrease but now it recover, the price is slow increase. China can't stop the bitcoin, even the price of bitcoin decrease but the truth is so high.

For me bitcoin is a source of income, I earn a bitcoin because I used this to support my daily needs so even the price down ita ok because I earn using joining to campaign and no capital used.

Yes its true when china banned bitcoin so nothing happen to bitcoin at that time little bit its decrease but quickly it recover and now bitcoin is more stronger and powerful and the good thing is bitcoin is accepted by some economically strong countries like japan ,Australia and European countries which is a good thing for bitcoin.