Are We Dead Without China?

[NikolayRaev]

Well, that's a good question because China was a primary driving force in Bitcoin due to its large market share in trading and mining. The world’s greatest consumer-grade ASIC miner is in China. Chinese manufacturers and suppliers specialize in designing and manufacturing Bitcoin mining hardware. Sichuan Province is full of Bitcoin mines due to its cheap electricity. Miners in China are believed make up more than 60% of the Bitcoin network's computing power. China was also the main reason that Bitcoin price has been going up.

[damnek]

Its not true we can still survive without china. Its true china is the place where the demand of crypto is higher than other country or i should say they're number 1 on it. But its not mean they're the owner of bitcoins. Bitcoin is free and nobody can control it. Well the price fall down when china banned it but the price is back to normal and even more higher than before

There is no endeavors if the China isn't utilizing bitcoins in light of the fact that there are billions of clients of the bitcoins so don't be stressed we are not dead without China so on the off chance that you are apprehensive than try not to be on account of without China the bitcoins have billions of the clients so on the off chance that you need to contribute cash then the bitcoins will be the best decision of yours in light of the fact that now a days the costs of bitcoins is going increasingly elevated quickly.

[JayT22]

i dont think that we are dead without china,the price would fall but maybe that wo be a good effect to get some bitcoins cheap again. #lol

[BitcoinIsAlgebraic]

Bitcoin has hit several new highs since China has stopped trading in Bitcoin so I believe that China doesn't have the power or the impact that people thought they would.

[Canday]

We can't deny the reality that China is certainly one particular of the international locations which has a great deal of impact when it arrives to bitcoin and other altcoins.But we must also don't forget that even even though they engage in a fantastic element in it, it is even now just a proportion as compared to the complete world.Of course, we skilled great dip because if their declarations.But as of now cryptocurrency is little by little attaining again.There is would only suggest that there is no country that can one-handedly stop cryptocurrency from turning into common...

[Darker45]

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.

We are definitely not. Indeed, what happened before with China resulted into a big trouble for the whole cryptomarket includig Bitcoin. Its market value fell but it was able to fully recover and to have a much larger market value of 6000$ and still increasing, from a value of 3300$, its market value when the downfall happened. It clearly shows that Bitcoin is still as this succeesful with or without China.

Agreed, with or without China, bitcoin remains strong. It have proven that bitcoin communities remain strong without being influenced by a country's politics. despite some correction, but bitcoin has returned to its path.
I am interested in some statements that China will be taking out ico's as well. this certainly indicates they still want to actively engage in business crypto for sure in the future.

Because to be quite frank about it, Bitcoin has never been dependent on any country at all, much less china, whose government is infamous of being intrusive and manipulative of almost all kinds of businesses there. Anything that might threaten the government or any of its branches and agencies will face the risk of getting regulated or worse getting banned for good. Bitcoin is not territory-based. It can easily surpass political borders.

[Gabb]

Of course we could survive without China. I think we have overestimated his true power in the bitcoin world, and it was clearly shown that this is not the case when his attempt to ban the ICOs ended up boosting these businesses and the price of the bitcoin itself.

[thet]

No, we are not, we can live on our own without their help. We can proceed with our lives without them. Bitcoin's supply and demand are continue growing without them.

[imamimam1234]

Not really, but you guys have you thought like this. Can I have policy like china did, also expect if my country as big as china with its power and do the opposite which is clear all that kind of bans (in fact the rate so high right now). We aren't dead without china. We just incomplete without china.

[OrangeII]

well, even without china, bitcoin prices can go up as it is today. well, I guess that's not very influential. there are still many people who want to invest in bitcoin other than china, and I'm sure, bitcoin prices will continue to grow.

[pimvinken]

Last year china has banned bitcoin, from that day bitcoin has dropped a little in few weeks, but after that bitcoin has risen more powerful than ever before, maybe the supply for bitcoin is less than the demand, so higher the price the better we are, bitcoin can still survive without china.

[TIDOVEE]

China out of bitcoin will definitely have an effect but not a crash, and the effect will be for a short period. Other countries will cover up. Although I may not really fathom how intense their little effect goes in holding bitcoin but I  know they have about 20% population in bitcoin. But yet, the 80% covers a larger range.

[iamsange]

Last year china has banned bitcoin, from that day bitcoin has dropped a little in few weeks, but after that bitcoin has risen more powerful than ever before, maybe the supply for bitcoin is less than the demand, so higher the price the better we are, bitcoin can still survive without china.

without china, other countries start to adopt bitcoin so there are big demand and that cause the price only affected a little early but now the price is going high maybe because of fork too. there is a lot of thing that can affect bitcoin price

[Fesatmas]

Although China holds 20% of Bitcoin I think it will not have a big effect on Bitcoin. Bitcoin is still strong with the support of several investors worldwide it seen from the current Bitcoin price that has reached the highest value.

[DarkIT]

of course not. we can still have bitcoin without china, and bitcoin is still used. but china may affect bitcoin prices, as they keep some% of the existing bitcoin stock. so I think china can have an effect.

[kr105]

    When we talk about Bitcoin, we call it the digital money that the whole world will use, we trust and invest. Then when China banned to Bitcoin, we say that Bitcoin will die. Is This  not a contradiction ?...  The world is not just China, and interest in Bitcoin is growing.

[googs84]

China accounts 23% of bitcoin trades. Due to cheap electricity and low labour cost China become  a popular hotspot of many mining companies. Ban or regulation by China has definitely made as adverse impact. Bitcoin prices dropped 20% in a day. But the impact was temporary. Development of any popular cryptocurrency cannot be stopped by such steps. After news of regulations/restrictions from china came bitcoin price dropped below $4000 now the price is roaring above $7100 it shows corrections like these are expected by bitcoin traders. In fact traders grabbed this fall as an opportunity by collecting more & more bitcoins.

[Irvinn]

As recent events have shown, bitcoin easily managed without China and grew in price even much more than it was supported by China. Recently, the crypto currency has not reacted at all to the events in China related to the prohibitions on crypto currency. This once again proves that bitcoin and other crypto currency has even greater reserves and are able to grow and develop without the support of individual countries because this phenomenon is supranational.

[prehisto]

I have almost forgotten about this peace of news .
BTC managed just fine the hype and hysteria was much worse than actual impact.

And also do not forget that that we are not completely without China, we are without China only officially , they are just bypassing the law.

[Cutekittens21]

We can't deny the fact that China is indeed one of the countries which has a lot of impact when it comes to bitcoin and other altcoins.
But we should also remember that even though they play a great part in it, it is still just a percentage as compared to the whole world.
Yes, we experienced great dip because if their declarations.
But as of now cryptocurrency is slowly gaining again.
There is would only mean that there is no country that can single-handedly stop cryptocurrency from becoming popular..