Are We Dead Without China?

[Xester]

we wont be dead without china .surel the ban on bitcoin exchanges would produce ay effect on the market but that wouldn't destroy bitcoin. the far east is planing to manage ICOs so may be next we're able to see a increase in bitcoin's  cost.n

And actually bitcoin price is increasing right now.  When China banned bitcoin, its price is like half to its price right now.  So we can definitely conclude that there is no effect if China banned bitcoin and its people stops using it.  We are far more greater in the numbers than Chinese who are into bitcoin.

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[BTCMILLIONAIRE]

China doesn't matter. Sure they have a lot of mining power, but if they bail out, or they gets illegalized, the remaining world will just mine the coins. So it doesn't matter with china... demand will also still be high, because chinese will still buy the coin.

I'm pretty sure that unless the Chinese government imprisoned Jihan etc., Bitmain would just move to another country to keep mining.

But overall, other than some scammy BCash pump and dumps, China isn't extremely relevant to crypto. If they regulate it too harshly they will simply miss out on the next industrial revolution.

[Gens09]

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 one of the top country and supply of cryptocurrench when it comes in miners and ico most of the time it is came from china so i guess when china is gone it will be affecting obviiously the market and also a lot of supply and demands but the cryptocurrency is obciously imdependent already.

[BitcoinGirl.Club]

China is still considered a power house in terms of influence in the cryptoworld and I for one know Chinas presence still contributes towards the general demand for cryptocurrencies, but if these guys pull out crypto usuage drops but not dying.

[BTCMILLIONAIRE]

When China banned BTC it was around 3000 dollars. Now it's 8000. Make your own conclusions, but yes, Bitcoin will survive and might even be better off without China.

It would be better off without Bitmain at this point for sure...

[CryptoClown]

No. It is true that China has a huge impact to crypto based on what happened on recent fud but Bitcoin can still support itself. You can compare Bitcoin's today's rate than what it is two months ago as a proof.

[randythered]

Don't you think price would have been at 10K by now if China were still catering BTC?

When China announce about their BTC bann on exchanges, the price  had terribly plunged down in a day.  If were to add up the amount of USD from china, its price would have been more than 10K. But we're not dead though.

Yes the price probably would be comfortably above 10k by now but that the price has still increased tremendously without China and that alone shows that we do not need them for BTC to survive.

[BTCMILLIONAIRE]

Don't you think price would have been at 10K by now if China were still catering BTC?

When China announce about their BTC bann on exchanges, the price  had terribly plunged down in a day.  If were to add up the amount of USD from china, its price would have been more than 10K. But we're not dead though.

Yes the price probably would be comfortably above 10k by now but that the price has still increased tremendously without China and that alone shows that we do not need them for BTC to survive.

I doubt it. People outside of China don't give a shit about Chinese legislation. And people inside China will still trade Bitcoin if it's profitable enough, they'll just have to jump through more hoops to get some.

[tinystone26]

I Think bitcoin will not gonna die because of banning in China maybe they have the largest amount of contribution but as we all now that all countries here and everywhere is using bitcoin now, and if I'm not wrong it grows day by day.

[jsscswan]

Although China has a large share in bitcoin mining, I think bitcoin will remain alive without China's state participation. Now many countries are starting to do mining, we do not have to worry about the Chinese government that began to disturb bitcoin with the rules.

[iluvpie60]

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 dead without China. BTC as a system is useful for all, not just useful for China. If btc didn't survive without China then we have a big problem. This is not China Coin, though a lot of the miners are in China, we still have other miners that would be able to fill in and take their place should China ban mining for whatever reason.

Even if China bans mining and having BTC, people will still use it. It is a good way to get outside of their government censorship.

[haiyou]

It should be said that the current price trend of Bitcoin is the best answer to this question. China's ban on Bitcoin transactions may have their own reasons, which can only have a short-term impact. The long-term development depends on the quality of Bitcoin itself

[randythered]

Don't you think price would have been at 10K by now if China were still catering BTC?

When China announce about their BTC bann on exchanges, the price  had terribly plunged down in a day.  If were to add up the amount of USD from china, its price would have been more than 10K. But we're not dead though.

Yes the price probably would be comfortably above 10k by now but that the price has still increased tremendously without China and that alone shows that we do not need them for BTC to survive.

I doubt it. People outside of China don't give a shit about Chinese legislation. And people inside China will still trade Bitcoin if it's profitable enough, they'll just have to jump through more hoops to get some.

I do not know and it is hard to answer definitively but I would expect that although many still trade and use bitcoin many of the investors who were less tech savvy or understanding of bitcoin will have sold their coins. I'm talking about your guy who doesn't really understand bitcoin but bought some because his friend told him to.

[ariewashere1]

Hardly think so guy. Why the far east is that important? We made it the bitcoin following outlawing of china also therefore it is not an issue. Just checkout the graphs of bitcoin, they are again coming on the internet and going to be along with everything once again.  The far east may come back again, but so what now as we understood whatever effect was there because of china it's eliminated after dew days only. Just too large nvestord know what they are doing generally. They'll by no means allow the bitcoin drop.

[bubble pop]

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.

No we're not dead even without china, we do not need china to be successful. Haven't you look at the market after china banned bitcoins in their country. Yes we fall but after a month we slowly recovered and even set a new record high, look at the market now bitcoins have already reached $8000 each and that is without china so how can you say that we are dead without china. Bitcoins are becoming more popular than they are before and the demands are getting high ad so as our price. China are the oneswho are missing some money in their economy.

[karanggatak]

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 a big country with a lot of people. They hold 20% Bitcoin. If BTC is banned in China, then this will not affect the market. Only 15% to date BTC depressed.
Do not panic we are sure crypto will not be unstoppable.

bitcoin cant disturb by country, maybe bitcoin price can fall to earth because of some country banned bitcoin, but for some month it will normal again and like no happen with last accident. crypto current still stay strong like you say.

[wolfgang56]

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.

Not really because there are still countries that can cope up with China like Russia. And I think it is impossible for Chinese government to ban bitcoin all over their country because we know China how they are in that kind of situation.

[Gladz29]

All governments and central banks are against cryptos.
I think we will see a lot of turbulence in bitcoin. Does anyone sells VIX options on cryptos ? 

China is the one of most influential country in the world. But does not means that we are nothing without china. We know china is a big help to us, but it depend us how we work for it for our country, and how we can help to improve our country, we know china is big importer and exporter. But if we help our country we like china one of the richest country.

[BTCMILLIONAIRE]

All governments and central banks are against cryptos.
I think we will see a lot of turbulence in bitcoin. Does anyone sells VIX options on cryptos ? 

China is the one of most influential country in the world. But does not means that we are nothing without china. We know china is a big help to us, but it depend us how we work for it for our country, and how we can help to improve our country, we know china is big importer and exporter. But if we help our country we like china one of the richest country.

China is mostly "rich" (in the sense of having a high GDP) by having a ridiculously large amount of citizens. Per capita they are almost dirt poor.

[Dluretic]

As you can see, without China now, the bitcoin price has reached a new height. Therefore, going to China is a good thing, not a bad thing. China is indeed a factor of instability.