Are We Dead Without China?

[smsupto]

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.

Though china is a big country. It have large population and many people use btc (all most 20% of btc). It is not fact because btc is not a country wise usable. It is world wide. It's just my opinion.

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[RodeoX]

What kind of question is that, lol.

Can capitalism survive without communism?  

The crazy part of the story is that China has any interest at all in Bitcoin.

[Johj]

Bitcoin can easily survive without China! 

[maman09]

the impact is felt when chinese shakes the bitcoin. these days all of us who are involved with bitcoin suffer from unrest.

china is tricking us.
but I see today's price increases. I think a good start.

[Zeke_23]

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.

Yeah I agree to you that the china is a big contributor to bitcoin but I don't think so that without china the bitcoin will die. Bitcoin will survive this challenge and It will become successful even though without China.

same here, our world is a big environment. it is a big community which is full of people who invest and always face the risk of losing money. so even china banned this ico or crowdfunding there is a lot of big whales around the globe and i think it can survive even if big whales in china was not able to join anymore.

[SilentNightElf]

Despite China is one of the major actor for crypto world, it does not mean that if China banns bit-coin it will be the end of it.

that goes for any country, not just china

[Victorycoin]

the impact is felt when chinese shakes the bitcoin. these days all of us who are involved with bitcoin suffer from unrest.

china is tricking us.
but I see today's price increases. I think a good start.

Instead of panicking and leaving lots of money on the table, bitcoiners should simply see it all as a leveling of the playground for Bitcoin to truly attain decentralization, paving way for a robust upthrust to the moon. So this sell off as always, is after all a good thing happen to the community except for those who are unable or unwilling to see the entire picture of things. Bitcoin is much bigger than China!

[darkangel11]

Despite China is one of the major actor for crypto world, it does not mean that if China banns bit-coin it will be the end of it.

that goes for any country, not just china

They are just one country. Like there weren't enough people in the world to use bitcoin
China won't ban it, they are interested in it. If you read the gov statement, the spokesman said that they are developing blockchain technologies and won't stop. They were simply concerned about the amount of ICO scams.

[mx667]

No. Because there's a lot of powerful country beside China. There are America, Uni Soviet, North Korea, and many more. China is just one of them, China will do anything to get into the industry. China has many industry, for example like : game, toys, electronic devices, computer, laptop, and many more. Bitcoin is just one of them.

We will see, the price of Bitcoin will go high again. Today is 3700. That's the proof that we don't need China. We have the world now.

[Falgorn]

Just the opposite. This China will be dead without the world community in case of long-term prohibition of crypto currency in their country. The market for crypto-currency without China will decrease slightly in volume, but it will be freed from numerous fraudulent ICO, however it will continue to develop. But what will the holders of China's crypto currency do? Will they try to sell the crypto currency through other countries? Then buy at a low price.

[adzino]

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.

Why wouldn't it survive without China? Bitcoin is independent and the value does not rely specifically on any country. The government just (is going to) imposed a ban on the exchanges but not the currency itself. The investors needs to secure their funds and to do so they need to sell it as soon as possible thus causing price to fall freely.

[Zimbabwecoin]

I think that the genie is out of the bottle. So it will be hard to stop Chinese people from acquiring bitcoin.  Might even make it more desirable.

[bettercrypto]

I belive Bitcoin will survive even without China.  China is the the world, remember that.  And China is not Bitcoin.  We may have lower price due to the lost demand from the Chinese people but I believe it will go up again once new bloods flocks in to the Bitcoin community.  It just takes some time for the price to recuperate but eventually, the price will stabilized, recover and even break ATH one after another..

[pixie85]

Yes! Satoshi nakamoto was Chinese and China is the capital of Bitcoin trading, we are all doomed. Don't forget to sell your coins! 

[jubalix]

china has never banned btc before....ever.

[RamonBTC]

Bitcoin can easily survive without China! 

Correct, we all know that not only china have the most number of investors and user. They're one of but not the only one.

[Nawaytes]

I don't care about China, and i don't care if they are banned bitcoin, and i hope they do as soon as possible.
We will not die because of China! Bitcoin created for us, for peoples in the world, not for China's only. Have you seen bitcoin prices in 2013? i think there is no China. CMIIW.

[BitcoinPC]

You actually have this concern? Obviously the price isn't going anywhere. It's down a couple of hundred dollars and it will be right back where it needs to be before too long. I can't believe that you people actually have these fears. I can't believe that you people actually let yourself be manipulated by this sort of information.

[djsugar]

China and Jamie dimon have only played with the market. They manipulated the price just for their benefits. Most of them sold their Bitcoins at ATH and then spread a FUD to buy back at lower price. People who are in loss are generally panic sellers. Those panic sellers need to understand the potential of cryptos. They just can't fall for a news. China might be a dominant country in crypto and their ban will definitely have an impact in the market. But market will recover as it happening now. Bitcoin can very well survive without China too.

[BITMIXCOIN.IO]

Yesterday's and today's price jumping/flipping is a proof that we don't need to china as much as we did before. the price is coming back slowly but surly. i think personally we're heading into a new destination.