Are We Dead Without China?

[Reez]

We are not dead without China. Bitcoin is decentralized and if centralization occurs well Bitcoin will figure out a way to become more decentralized. It always does.

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[Roman Abraham]

I think China is just one of the biggest trading centre in the world, and if we see that there are so many countries that are the biggest bitcoin markets other than China, such as Japan, South Korea and so on, and this is still in Asia, there are many more big countries outside Asia that became the centre of Bitcoin's development. So I think it would be a mistake to say that bitcoin will die without China.

[jubalix]

even a cursory look at BTC's history has seen many "bans" by china on BTC, the PBOC and friends routinely come out and BAN or similar to BTC etc.

It is amazing to see that people still react to this in almost anyway.


I suppose there must be a lot of new entrants who have not lived through the history of BTC.

[randal9]

I think China is just one of the biggest trading centre in the world, and if we see that there are so many countries that are the biggest bitcoin markets other than China, such as Japan, South Korea and so on, and this is still in Asia, there are many more big countries outside Asia that became the centre of Bitcoin's development. So I think it would be a mistake to say that bitcoin will die without China.

Though China has a big impact in the value of bitcoin but I think we will still come far even without them, in my country almost hundreds of users and investors is increasing in a day because  the word of mouth is so powerful, they have been curious about it and tried it and satisfied with the outcome, with that they share this to their love ones and friends and so on.

[8270thNinja]

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.

Yes, I mean look at it do you think China is the only one that supports the bitcoin system? Once China is out on Bitcoin community and Bitcoin System, This will open more opportunities for some miners to create their own rig and start earning. THEY.CANNOT.KILL.BITCOIN. as long as there are community support that will continue to support the Bitcoin System, Bitcoin will still continue with the bully Chinese government.

[cabitu]

I still believe there is nothing to worry about in this case, we keep trying, thinking smart, good at seeing opportunities. The speed and accuracy in acting it is necessary to get great results through bitcoin, passion and success for all of us

[Realist247]

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.

Yes, I mean look at it do you think China is the only one that supports the bitcoin system? Once China is out on Bitcoin community and Bitcoin System, This will open more opportunities for some miners to create their own rig and start earning. THEY.CANNOT.KILL.BITCOIN. as long as there are community support that will continue to support the Bitcoin System, Bitcoin will still continue with the bully Chinese government.

This is backwards logic.  Eliminate nearly 2 billion people from the equation and you expect BTC to rise?  Stupid stupid stupid.

[supto005]

As a my opinion it's a Big NO!! I don't think everything it’s about China. For the moment, Bitcoin is a market in grow and it's without China. According to the latest rumors China’s bitcoin exchange ban does not impact crypto to crypto trading. If the world still wants Bitcoin, the world will still have bitcoin. 

[mharz]

I think China is just one of the biggest trading centre in the world, and if we see that there are so many countries that are the biggest bitcoin markets other than China, such as Japan, South Korea and so on, and this is still in Asia, there are many more big countries outside Asia that became the centre of Bitcoin's development. So I think it would be a mistake to say that bitcoin will die without China.

Though China has a big impact in the value of bitcoin but I think we will still come far even without them, in my country almost hundreds of users and investors is increasing in a day because  the word of mouth is so powerful, they have been curious about it and tried it and satisfied with the outcome, with that they share this to their love ones and friends and so on.

Of course no, we cannot die without China maybe we experience to suffer for short period of time but we were not die. Because there's a lot of rich country which is enrolled to bitcoin society, I think if the China loosen up the bitcoin community I'm pretty sure that there's a lot of country taking over their position. On the other side we are need to admit that escaping of Chinese country to crypto currency world had large impact to all users.

[Realist247]

I think China is just one of the biggest trading centre in the world, and if we see that there are so many countries that are the biggest bitcoin markets other than China, such as Japan, South Korea and so on, and this is still in Asia, there are many more big countries outside Asia that became the centre of Bitcoin's development. So I think it would be a mistake to say that bitcoin will die without China.

Though China has a big impact in the value of bitcoin but I think we will still come far even without them, in my country almost hundreds of users and investors is increasing in a day because  the word of mouth is so powerful, they have been curious about it and tried it and satisfied with the outcome, with that they share this to their love ones and friends and so on.

Of course no, we cannot die without China maybe we experience to suffer for short period of time but we were not die. Because there's a lot of rich country which is enrolled to bitcoin society, I think if the China loosen up the bitcoin community I'm pretty sure that there's a lot of country taking over their position. On the other side we are need to admit that Chinese country had large impact into the crypto currency world.

If a country is not backing its currency by gold, it can and will become dirt poor overnight.  How many countries are willing to back their currency by gold other than China?  If you can answer this you know who are the truly wealthy nations and those whose wealth is a hoax.

[Sithara007]

As a my opinion it's a Big NO!! I don't think everything it’s about China. For the moment, Bitcoin is a market in grow and it's without China. According to the latest rumors China’s bitcoin exchange ban does not impact crypto to crypto trading. If the world still wants Bitcoin, the world will still have bitcoin. 

Dude, the China ban had its effect. You can't say that it didn't had any impact, because the prices have now stabilized at around 15% lower than the pre-ban levels. But this time, the impact was more limited in nature. If you remember, in 2013 we had a 30% crash in just 2-3 days after there were rumors that China was banning the Bitcoin.

[yorklab]

Bitcoin doesn't need China. Too many countries/organizations are embracing Bitcoin now. If the Chinese mining is shut down, then mining will start up elsewhere. Bitcoin will take a dive at first, but it will come back up and then some. Besides, I guarantee you, most of the big Chinese players in bitcoin will find a way to continue.

Privacy coins may become the coin of choice for many now in China.

[Raegorl]

Bitcoin doesnt rely on China - not in any country for a matter of fact. We will survive through this FUD and grow stronger because of it.

[supto005]

As a my opinion it's a Big NO!! I don't think everything it’s about China. For the moment, Bitcoin is a market in grow and it's without China. According to the latest rumors China’s bitcoin exchange ban does not impact crypto to crypto trading. If the world still wants Bitcoin, the world will still have bitcoin. 

Dude, the China ban had its effect. You can't say that it didn't had any impact, because the prices have now stabilized at around 15% lower than the pre-ban levels. But this time, the impact was more limited in nature. If you remember, in 2013 we had a 30% crash in just 2-3 days after there were rumors that China was banning the Bitcoin.

you are right dude. i got the points. Thanks your information.

[yugyug]

China's bitcoin dominance existence only after 2014 during the time when the ASIC minings proliferated, before long ago China's participation to bitcoin was inferior and majority of mining power came from European region which own almost 50% that time but still bitcoin still active whithout China the only reason why some European unable to dominate bitcoin mining power is due to electricity cost. Even without China Bitcoin can still survive, we can shift from other countries for mining operation and trading, Bitcoin is so portable in speaking of its infrastructure to mine.

[vipgelsi]

Good thing is china now has no more manipulations. Unless they make it ilegal to own bitcoin in china.

[Kevondo]

Bitcoin is decentralized, currently bitcoin market share is about 65 billion USD and this is a huge market share, many people say that china is the biggest user of bitcoin but in fact the chinese government banned bitcoin, if true china depends on the price of bitcoin drop below $ 1000, but this is not proven because the bitcoin price is $ 4100.

I am not going to be agreeing with this because it is quite impossible yet maybe china is playing a big role in the popularity of the bitcoin and they were the biggest investors of the bitcoin but the crypto world is too much wide that can never die that simply. A lot of other countries also invest and use bitcoin may be the price of the bitcoin will suffer a dump when they will ban the bitcoin but it will increase in the very short time once again.

[suvo05]

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.

The cheaper electricity cost for mining helped lot of people in china to gain profit from mining, which is not possible in the other part of the world. If mining will get a ban, then there will be some fair amount of trouble in market again. But what had happened till now (i.e the banning of ICO and banning the crypto exchange sites without license) is not that much which can collapse the whole market. But it made people panicking, and that created the downfall.

[aoihs00]

There is no need to put the china in such great position because they don't deserve it. They have been always pain by fluctuating the bitcoin by pumping and dumping of it. We have seen that many times in the past and why would we even care about regretting these country to get away from bitcoin world.


It's not like that, whether they can't control the bitcoin economy or other crypto currency but it's all about they just don't wanna take up the mess of hackers, illegal projects etc. That's good for them anyway.


China might be affecting us but not for long period of time. It could be just few months but not more than when the situation will be back to normal.

[itzong17]

we all know China is a superpower nation, 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.