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Author Topic: Are We Dead Without China?  (Read 16698 times)
Omega Weapon
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October 13, 2017, 02:13:48 AM
 #601

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.
It is incredible that despite all the efforts being made in order to stop bitcoin, despite all the FUD, bans and forks, bitcoin has reached an all time high that just a few years ago would have seemed impossible, I think we may be on the verge of bitcoin becoming unstoppable, nothing seems to have a long term negative effect on it, it is true that the price still goes down with bad news but immediately recovers, what will happen when governments finally ban bitcoin and bitcoin remains unaffected?

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October 13, 2017, 09:18:32 AM
 #602

even a cursory look at BTC's history has seen many "bans" by china on BTC, the PBOC and friends routinely come out and BAN or similar to BTC etc.

It is amazing to see that people still react to this in almost anyway.


I suppose there must be a lot of new entrants who have not lived through the history of BTC.


Bro I didn’t so because not all the bitcoin miners lie there in China. Now there is large number of bitcoin miners in the other countries of the world. Therefore the domination of mining does not hold by the Chinese anymore. If they stop mining other will double the production because of the demand and they will earn huge amount of money and then electricity will be not a problem for them.

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October 13, 2017, 09:34:09 AM
 #603

Bitcoin price just managed to surge to another high record this week without the chinese, so I believe the China government must be realizing that their ban on ICOs and crypto-currencies exchange won't affect the bitcoin price in the long run, maybe it is truly better without the china market.
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October 13, 2017, 09:50:10 AM
 #604

Definitely one thing without china we still live, although the crypto market may be chaotic for a long time. But I'm sure it does not affect us too badly.
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October 14, 2017, 03:39:43 AM
 #605

Chinese hold 20% of bitcoins about the rest they're world wide.I don't think it can affect on market by banning the bitcoin, And china just ban the ICO exchange not bitcoins. Even if they ban the Bitcoins, there should be no effect in the long term to bitcoin as bitcoin is not a Chinese currency, its a decentralized digital currency and no one country owns it.
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October 14, 2017, 05:30:26 AM
 #606

Of course perhaps the market will move,but anything serious will not be.
Since China only 15% of users of bitcoin.So why worry,everything will be fine.
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October 14, 2017, 05:44:06 AM
 #607

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.

 Yes it is true, China is a big contributor in the digital currency and in the bitcoin. We saw that, when the bitcoin fall down a few weeks ago because of the issues in the China. But now, bitcoin is gaining itself and surpass its value back then. It survive and became better than before. So even if without China, bitcoin will still grow and proves itself in the digital currency.
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October 14, 2017, 10:53:27 AM
 #608

Bitcoin will not die simply because the Chinese govt banned ICO, the marketplace in foreign countries is nonetheless a whole lot, and certainly the Chinese businessmen will uncover a way to get out of this dilemma ..
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October 14, 2017, 01:43:16 PM
 #609

By now, you should know the answer. Bitcoin's price just reached $5k despite of the Chinese issue. Bitcoin is across the world so not a single country can decide the fate of Bitcoin.
As we know the price of bitcoin is still increasing after the rejection of china to bitcoin and reaches to $5,000 which make the record and show to the world that bitcoin is independent and decentralized cryptocurrency, yes I know a little make difference but that not enough to make the world of bitcoin to its end.

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October 14, 2017, 01:48:18 PM
 #610

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.

Considering its price growth right now and continuously to grow, then we are not affected by the banned made by China.  Bitcoin will be greatly affected if it came from China but since it is from the America then we are good.  Plus, not all Chinese are into bitcoin.  Many are using bitcoin and continue to use it.

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October 14, 2017, 01:48:57 PM
 #611

even a cursory look at BTC's history has seen many "bans" by china on BTC, the PBOC and friends routinely come out and BAN or similar to BTC etc.

It is amazing to see that people still react to this in almost anyway.


I suppose there must be a lot of new entrants who have not lived through the history of BTC.


Bro I didn’t so because not all the bitcoin miners lie there in China. Now there is large number of bitcoin miners in the other countries of the world. Therefore the domination of mining does not hold by the Chinese anymore. If they stop mining other will double the production because of the demand and they will earn huge amount of money and then electricity will be not a problem for them.
There are many legendry peoples like bill gates etc which make bitcoin really awesome and made bitcoin to the stage that it will not be destroyed by anything, now the price of bitcoin is still increasing after a lot of rejection in the world but here it doesn’t matter and one day the bitcoin will make the people compelled to invest in bitcoin through the price and importance of bitcoin.

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IBIN
International Blockshare Identification Number
██   Telegram   ██████████   IBIN   █████████   Medium   ██
.
IBIN

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October 14, 2017, 01:58:08 PM
 #612

No China isnt even the biggest amount of investment, we saw real volumes when fees were introduced and even then exchanges could manipulate that. Even with a ban they will still be trading person to person.

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October 14, 2017, 02:31:49 PM
 #613

No China isnt even the biggest amount of investment, we saw real volumes when fees were introduced and even then exchanges could manipulate that. Even with a ban they will still be trading person to person.


Exactly, i don't think the Chinese ban will be effective as they wanted because person to person trading can go on and on the dark web too. Bitcoin is independent of any country or government and so i don't think without the Chinese we are doomed and the current significant rise says it all.



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October 14, 2017, 02:36:02 PM
 #614

No China isnt even the biggest amount of investment, we saw real volumes when fees were introduced and even then exchanges could manipulate that. Even with a ban they will still be trading person to person.

Plus the fact that after it banned bitcoin, just a few days and bitcoin price was unstoppable.  Its price goes up and shows a great performance attracting more investors.  China does not affect bitcoin in anyways. 

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waverscoin
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October 14, 2017, 02:38:08 PM
 #615

China is not the only county in the world, and while it does hold a high spot in terms of economy and stock exchange it would not really kill off bitcoin or cryptocurrency idea as a whole. It might hurt it a bit, but China banned BTC then it would really only hurt itself, opening a door for a new country to ursurp the throne of the hub of bitcoin trade.
martin1221
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October 14, 2017, 02:44:43 PM
 #616

If china will be banned, it surelly affect to the market but. Many of cryptocurencies are still there. Dont lose hope

zoolz
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October 14, 2017, 02:46:28 PM
 #617

Even if China completely bans bitcoin then it will still be used in China. Also there are many other countries pro bitcoin so in the end it wouldn't matter much.
8270thNinja
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October 14, 2017, 03:22:07 PM
 #618

Did someone died today? Good news we are still alive without china and bitcoin is still alive and already pumped higher and created new history on it's price. Without china bitcoin community and bitcoin itself is ALIVE AND KICKING.
Frank0209
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October 14, 2017, 03:28:42 PM
 #619

Look at the price of Bitcoin at this time and you will know the answer for your question Smiley). Although China is a country has biggest effect to Bitcoin price in the world but Bitcoin is not their own cryptocurrency so they can make Bitoin die by banning it in their country, it con affected to Bitcoin price in a few days then Bitcoin price still increase very quickly. As you can see the price of Bitcoin right now is about 5k7$ and I think it'll reach to 7k$ soon.
Kikeeping
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October 14, 2017, 03:41:44 PM
 #620

Of course yes. In fact, effect of China's ban will encourage bitcoin to be more valuable. Because indirectly, bitcoin turnover becomes less. Without China, bitcoin more exist.

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