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Author Topic: Are We Dead Without China?  (Read 16596 times)
iamTom123
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September 15, 2017, 03:05:09 AM
 #1

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.

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September 15, 2017, 03:08:10 AM
 #2

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.

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September 15, 2017, 03:12:05 AM
 #3

Lol this whole bullshit "China is banning bitcoins" is already priced in at this point. We're down 30%± and I highly doubt that 30% of bitcoins are even owned by Chinese people. You think every single Chinese person sold? That's a joke. There are massive bitcoin farms and tons of bitcoin supporters. It can't be stopped. They were way too late.














 

 

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Ucy
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September 15, 2017, 03:27:30 AM
 #4

Not at all my friend. What difference does it make other than traders's Bitcoin reducing in value. Smart traders can profit alot from this by buying all the dips
Dip 1 — you buy some Bitcoin
Dip 2 — you buy more
Dip 3 — you buy again
And sell when price goes up. sell again when it goes up again.. .
Leaving the remaining Bitcoin(40—55%) on long-term.


People like us who get paid in Bitcoin will have their pay adjusted upward.
Buyers and sellers of goods and services will adjust their prices too.


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September 15, 2017, 03:41:54 AM
 #5

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.

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September 15, 2017, 03:53:36 AM
 #6

From statistics, China has a major impact in world economy. But it doesn't exist in isolation from other countries of the world. China cannot ban Bitcoin on behalf of the entire world. This is not possible. Rather its regulations and attempts to ban it can only fuel apprehension which is quiet understandable. This will surely abate. Until recently I never knew that the Binance exchange, though registered in China, has less than 25℅ Chinese clients. I had thought it was mostly patronised by Chinese. Bitcoin and the altcoins will still be here without China!

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September 15, 2017, 04:04:52 AM
 #7

This must be a great deal to us who works on any bitcoin sites, But Bitcoin is a cryptocurrency, it might hard for us right now but then we should not worry to the future, China is only just 20% I guess so we only have 80% left which is more important. Maybe, Eventually in china they just want to control the Internet because some of the bitcoin users are really good in hacking, we will not know if some of bitcoin users that is based in china wants to hack some informations in china especially on the nuclear there, Just Saying.
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September 15, 2017, 04:08:27 AM
 #8

China indeed have a large numbers of miner and investors but they only have 20% to the whole world, in first glance chinas banning of ICO is have a huge factors \in bitcoin price. But now any more as many country investing and mining bitcoin all over the world the one factor I see right now is the speech of JP Morgan CEO Jaime Dimon about bitcoin that it is a FRAUD. But anything what he says will not stop crypto to go more further and making a high price afte this year, it is time to buy more bitcoin and invest in altcoin as the price is down. just hold your coins and after this will see the price will soar high again.
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September 15, 2017, 04:09:03 AM
 #9

Code:
Re: Are We Dead Without China?

Hahaha

Are you crazy??

This is a huge bus and there are so many passengers on the way, they are waiting for their bus to come..

If Chinese would like to get off!! Please go ahead, there are more on the way to take that sit sir;)

Nothing can stop an idea whose time has come
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September 15, 2017, 04:18:04 AM
 #10

China is a huge market for crypto currency, but it does not mean anything. If China would have banned the circulation of the crypto currency, it would have continued to exist successfully in the rest of the world, flowing from China to these countries. However, China does not plan to ban crypto currency and therefore there is no danger for it. There work is under way to regulate its circulation within this country and its results will soon be seen.

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September 15, 2017, 04:38:54 AM
 #11

Not dead but crippled as it seems, there is no need to deny the fact that China has a lot of influence in cryptocurrencies and their markets but how far they

Will be able to manipulate the prices? currently the 24 hours volume for Bitcoin only is $3 billion dollars who is buying these Bitcoins and why? I think there

Is a reason for it. they know that exchanges will get their licenses in a few weeks from now and they'll be free once again to trade crypto that's why they're

Buying now accumulating for the future to earn billions without even leaving their offices or doing anything other than clicking on buy orders.
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September 15, 2017, 04:43:59 AM
 #12

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.

Well in my opinion China closing of exchanges affected in someways but they are only one country and Crypto Currency is operating worldwide for sure Bitcoin would be in adjustment stage right now because of those news in China but it will still continue and not even China could stop it.
BTCLovingDude
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September 15, 2017, 04:49:26 AM
 #13

in my opinion this question and also the dip of recent days only proves that people have never understood what bitcoin is and what bitcoin does! they have all been just hanging around hoping to get more fiat just for buying something that is called bitcoin. it might as well be anything else, they would never care.

and this dip is good because it flushes these type of people out of the market and leaves those who understand bitcoin. THEY deserve to own more of this precious scarce currency not those who look for more fiat.


 
 
 
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September 15, 2017, 04:50:23 AM
 #14

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 cryptosGrin
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September 15, 2017, 04:50:26 AM
 #15

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.

Well in my opinion China closing of exchanges affected in someways but they are only one country and Crypto Currency is operating worldwide for sure Bitcoin would be in adjustment stage right now because of those news in China but it will still continue and not even China could stop it.
It's just a FUD now, once all those in doubt with bitcoin deminish,then all that believes in bitcoin remain. It wil start to boom again. It will soo. Pump after awhile.

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September 15, 2017, 04:56:14 AM
 #16

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.

idont believe in this news and i think its fake but if its really true i think that bitcoin is not related to this china thing. bitcoin is bitcoin and no one is conected to it if the price has drop well its really natural phoenomenon and its normal it happens all the time and will soon be back to its stable price or get higher.

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September 15, 2017, 04:57:47 AM
 #17

China is a huge market for crypto currency, but it does not mean anything. If China would have banned the circulation of the crypto currency, it would have continued to exist successfully in the rest of the world, flowing from China to these countries. However, China does not plan to ban crypto currency and therefore there is no danger for it. There work is under way to regulate its circulation within this country and its results will soon be seen.

well i also think that they won't completely ban bitcoin despite on the current situation because many chinese are already gaining a lot of profits in this.

if the people are growing, so will its country. rather than completely cutting ties with it, they might take advantage of it instead although the chances of them

embracing bitcoin is pretty low because it seems that they are still wary of it. and yeah they might regulate some aspects of it like banning and stuff

to answer ops question, yes it can survive but china will definitely have some effects on it but not enough to bring it down

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September 15, 2017, 05:01:52 AM
 #18

China has influence, but Bitcoin will survive without China
i'm not sure they will close the country as a market for Bitcoin, i think the government ban is temporary

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September 15, 2017, 05:04:46 AM
 #19

Lol this whole bullshit "China is banning bitcoins" is already priced in at this point. We're down 30%± and I highly doubt that 30% of bitcoins are even owned by Chinese people. You think every single Chinese person sold? That's a joke. There are massive bitcoin farms and tons of bitcoin supporters. It can't be stopped. They were way too late.

The general thinking is like, if China can ban Bitcoin exchanges, then what prevents other countries such as Russia and India from following their example? Even the situation in the United States is not that optimistic. The SEC had issued a strong warning against the ICOs a few weeks back. Only in a few countries such as Japan and South Korea, Bitcoin remains as 100% legal. And I know that there are massive Bitcoin mining farms in China. But their size is not a guarantee against their closure or seizure by the Chinese government.

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September 15, 2017, 05:06:04 AM
 #20

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.
Bitcoin can survive without China, but it is obvious that a shock is going to happen if the Chinese get completely out of bitcoin, however after some time bitcoin is going to go back to normality, I do not think that bitcoin viability is going to be at risk let alone its survival, so if they want to get out, let them since there are many people in the world that are willing to buy their bitcoins and create their own mining farms.

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