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Author Topic: Are We Dead Without China?  (Read 14759 times)
DewiKirana
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October 20, 2017, 11:10:09 AM
 #701

Bitcoin mining in China is good for miners and bitcoin, because the electricity tariff is cheap. But it can not be a reference to conclude dead bitcoin without China. If China does not contribute to bitcoin, there are many other countries that contribute. So do not worry.

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October 20, 2017, 11:19:16 AM
 #702

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 so. With the right technical transaction, bitcoin may be able to survive without Chine. It has survived through the internet, and we keep earning and using it because of the internet. They just need a particular place to transfer the storage of data.

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Cazemiro
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October 20, 2017, 12:07:27 PM
 #703

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 China is relevant, principaly by the potential of users ( more than 1.3 Billion people),but, the more important point, is the decentralized nature of Bitcoin , the future of Bitcoin is guaranteed. A Big Player, can manipulate the market but not end . Let's wait for the next, China´s steps.

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October 20, 2017, 02:19:34 PM
 #704

Yes everyone knows that china is one of the biggest mining in the world and it has a big impact on it when it was ban. but we know bitcoin survive even without china. When we search the internet so many big countries are consumers and believe in bitcoin and many are coming and more investor invest bitcoin. Because now bitcoin continuous increase so it will remain strong and most famous.


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October 20, 2017, 04:53:49 PM
 #705

I think bitcoin will not die without China, although many Chinese communities and bitcoin users, because there are many other countries that use bitcoin. so bitcoin will be fine without china.

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October 20, 2017, 06:49:07 PM
 #706

I think bitcoin will not die without China, although many Chinese communities and bitcoin users, because there are many other countries that use bitcoin. so bitcoin will be fine without china.

Yes, I agree with you. Many countries have accepted Bitcoin like a payment facility like Japan. We don't need to worry about banned by China. Bitcoin will survive and make the profit.  Grin

SteffCoins
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October 20, 2017, 07:09:12 PM
 #707

No. The banning had caused a minor effect on the Bitcoin price but without China there will always be another country which can become a major player like China. So, Bitcoin will not die even without China.
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October 20, 2017, 07:21:47 PM
 #708

China may be an enormous showcase for crypto currency, in any case it doesn't intend anything. In china might need banned the coursing library of the crypto currency, it might need begun and Johnson had proceeded will exist effectively clinched alongside whatever remains of those world, streaming from china should these nations. However, china doesn't arrangement to boycott crypto particular cash and subsequently there is no risk to it. There worth of effort may be under lifestyle to control its coursing library inside this organizations in the nation and its outcomes will quickly be seen.
ausbit
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October 21, 2017, 05:14:31 AM
 #709

I think bitcoin will persist even without China, in the absence of chinese does affect bitcoin, but now the price of bitcoin has returned to normal without china.
If the question is ask in the future I mean in 2020 when the price of bit could be 10k. We are not dead if the price of bit coin can go up to 5k then why not it is possible to touch the 10k point. Don’t worry sir if you have funds invest it in bit coin and wait for a while, after the announcement of china ban and its price stability it is now much sure that bit coin can really touch the 10 k point. Remember such profit can only make by risk lovers not risk averse.

bitcoinmasterlord
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October 21, 2017, 05:37:09 AM
 #710

No. The banning had caused a minor effect on the Bitcoin price but without China there will always be another country which can become a major player like China. So, Bitcoin will not die even without China.
It was just a few days its affected to the bitcoin price. But now everything is fine, and today it crossed $6k margin. I don't believe that only one country can handle the bitcoin growth. But with this kind of decisions will affect China based altcoins. I think next Japan will replace China.

Mr. Robot
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October 21, 2017, 05:39:28 AM
 #711

Personally I think that bitcoin will continue to grow with or without china. From what I've seen it's usually something about banning all ICOs one month and then accepting them the next. Granted it does mess with the market a bit, I think eventually it will work itself out and be stable.

I've been following bitcoin for about 3 years now and have loved watching it grow.
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October 21, 2017, 05:41:06 AM
 #712

I suppose a lot of rich and influenced Chinese are owning Bitcoin and alts quietly.
Some smart Chinese can use VPN service to hold crypto abroad.

By the way, if China ban something, this news is like negativity that will hurt China back
in less other business and lost trust.
Remember, any action move/reverse/return (in time) into reaction.

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Nazaneen
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October 21, 2017, 04:30:55 PM
 #713

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 losing china is a big blow but we must also remember that there are still other countries that we can look forward to and yet here we are surviving and earning at least with Bitcoin. China might have forsaken us but bitcoin is still there and we can still capitalize on it.

I do not think that losing China is something big.  Just look at the current price of bitcoin compared to the price when Chinese government banned bitcoin, its price drops just right.  Its price dropped a little and the price which is nothing to be worried about.  It just dropped then because there was an issue also stated by Dimon.  But looking at the price right now, we are good without China.
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 21, 2017, 04:33:10 PM
 #714

Personally I think that bitcoin will continue to grow with or without china. From what I've seen it's usually something about banning all ICOs one month and then accepting them the next. Granted it does mess with the market a bit, I think eventually it will work itself out and be stable.

I've been following bitcoin for about 3 years now and have loved watching it grow.
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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October 21, 2017, 04:56:04 PM
 #715

Neither China, nor any other country has yet undertaken to seriously harm the bitcoin. The prohibition of IСO in September in China was officially needed to counter fraud, unofficially - to counter the withdrawal of funds from China through bitcoin. As yet, bitcoin does not seriously affect the situation in world finance, no one will seriously move, because it requires effort. But if serious events begin, the collapse of stock exchanges and financial instruments, then everything will change. This should be prepared.
China keeps its foreign exchange reserves in the "treasures of the United States." If suddenly their price starts to fall due to bitcoin, China will immediately start acting, and the US too, naturally. But China can do it much more successfully, because there are no problems with protecting human rights because they are not there Smiley The Internet in China is isolated from the rest of the Internet, and to cut off electronic borders China can very easily, and also get its citizens to get rid of bitcoin in order to bring down its price, or to buy from citizens bitcoin at a low price. There are many options.

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October 21, 2017, 08:59:11 PM
 #716

China has not accepted Bitcoin.There was nothing bitcoin.When i reply this post Then Bitcoin is more than $ 6000.Now you say is it dead?No bitcoin decentralized virtual currency.it is never die.One time we will die,But then there will be Bitcoin with our next generation

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October 21, 2017, 09:12:07 PM
 #717

Yes, I think so because a lot of people nowadays are learning new ways and studying the best of bitcoin. People don't just rely now on one source. That's why there are now more cryptocurrencies that are being created.
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October 22, 2017, 02:32:56 AM
 #718

Is the entire globe stagnant with no China? You must know that the china is might only a large place of the world. The entire planet is not dependent on China, but China is dependent on the total entire world! ‍How we are useless without china?
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October 22, 2017, 02:49:19 AM
 #719

I think btc could power through a china dropout. It would cause a pretty big panic but with Bitcoin becoming global over the last few years, china doesn't hold a majority percentage anymore. If you would have asked that question 2 or 3 years ago my answer would be very different.
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October 22, 2017, 03:18:28 AM
 #720

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 do not think the problem is so serious. China is influenced by the bitcoin and bitcoin prices. But we will not die without China. Many countries around the world are involved in bitcoin in the UK, the US, the Netherlands, India and Vietnam... We do not give up bitcoin for whatever reason.

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