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Author Topic: Are We Dead Without China?  (Read 16647 times)
pimvinken
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November 07, 2017, 02:51:39 AM
 #781

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.

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November 07, 2017, 03:03:57 AM
 #782

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.




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November 07, 2017, 03:14:22 AM
 #783

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

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November 07, 2017, 03:21:57 AM
 #784

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.

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November 07, 2017, 03:26:52 AM
 #785

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.

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November 07, 2017, 03:36:47 AM
 #786

    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.

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November 07, 2017, 04:22:12 AM
 #787

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.


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November 07, 2017, 08:05:47 PM
 #788

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.

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November 07, 2017, 08:24:58 PM
 #789

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.

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November 07, 2017, 08:30:36 PM
 #790

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..
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November 07, 2017, 08:35:10 PM
 #791

Actually China is not against on Bitcoin, they are trying to build their own crypto. Already Bitcoin is able to recover this issues.

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November 07, 2017, 08:36:32 PM
 #792

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.
Very true. The world is big so it doesn't matter if China wants to play or not. But even if the government starts fiddling around, the Chinese people don't necessarily care about it and will still keep investing for as long as profits can be made.

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November 07, 2017, 08:43:31 PM
 #793

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 obviously not. It is true that thebmoment we lose China, major cryptomarket fell down but it turns out that it is an advantage for bitcoin, few weeks after the backdrop. It's market value since then increased continuously. After recovering from the backdrop, its market value of 4200$ increased up to now which is 7400$ without China.

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November 07, 2017, 09:08:10 PM
 #794

China is an important country when it comes to cryptocurrencies  and I consider them a power house
 But the thing is that as important as they Are, the commucommunity will survive without them easily.
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November 07, 2017, 09:48:20 PM
 #795

Why not expand this issue - every day in China produced so many pairs of socks that would be enough for the whole world!..  Shocked

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November 07, 2017, 10:11:31 PM
 #796

I wonder what Chinese are thinking today watching bitcoin crossing 7K without them.  Grin

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November 07, 2017, 10:16:13 PM
 #797

the Chinese are too smart not to succeed in buying: D
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November 08, 2017, 04:53:45 AM
 #798

BTC is on the top because of the advantages and financial freedom that is offers to people not because Chinese use them ,
It is not that only Chinese use bitcoins , the users are evenly spreaded across the globe and even if china bans bitcoins it is good for Bitcoins. Banning would create awareness in people about BTC and make it a popular crypto.
And I believe if china leaves BTC only one thing would happen is that the Rest of the world would get more  to mine and earn.

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November 08, 2017, 03:24:03 PM
 #799

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 not definitely dead without China but China is indeed a big contributor to bitcoin and other cryptocurrency as well. But i wont believe that all of the China's cryptocoin holders could have really sold their coins. The sudden fall on price can also be attributed to those who have panicked about the news during the past few days. Maybe some real chinese holders are just laughing right now because othe nationalities are selling while they are still holding and buying.China is helpful also to us.

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November 08, 2017, 03:33:14 PM
 #800

With what has happened and has passed, we all know Bitcoin will live without China, but China's influence on Bitcoin does exist but it does not make bitcoin die.

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