Are We Dead Without China?

[carllpet]

China will die without us. Without us where will they flood their products?

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[Chooroz]

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's banning of bitcoin exchange bring up a big impact to the bitcoin cryptocurrency users community because the price rate was totally affected since China is a great loss in the bitcoin community because potential investors are mostly and commonly can be found within the vicinity of China. Despite of this circumstance that bitcoin have been facing, the speculation for the death of bitcoin is still a far scenario to happen because there are still large states and countries that supports bitcoin usage so there is still a large possibility for bitcoin to regain its loss which is an indication to be away from the said death.

[MrBadger]

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 ? 

I agree with that and we cant deny the fact China is one of biggest contributor in bitcoin as well as in worldwide economy

China is a big FAKE POS.
And no proof of stake but piece of sh....

Nobody gives a damn what China is doing.

[tittensor]

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 banning ICOs and Bitcoin exchange is indeed a loss for crypto community. It resulted to continuous dumpa that made the cryptomarket fall. But as what we are seeing, Bitcoin is slowly climbing its way up after the downfall and that's good especially if it will continue. Which proves that Bitcoin can still survive without china. Bitcoin still has a large community that provides high market demand to make its market value, high.

The ICO market banned by the Chinese government not is a loss, it is a big changes in the community of Bitcoin. It proves China not is country has influence strongly like the past. Now, Bitcoin does not need have China to increase its value.

[baundul]

It can not be closed by pressing the force. Because crypto can not be stopped as the transaction can not be closed or stopped. China is financially active in the world market, it has reduced the currency but it has not been erased. I think China is thinking of something else for trading.

[shiningstar]

Well i think of course we will be influenced if China banned bitcoin, because yeah, it is a big country.
But i don't think bitcoin will dead just like that. There're still many countries that allow bitcoin, or even legalized it. And there're many people who invest in bitcoin outside China, so bitcoin is still popular and needed.

[Raihan050]

obviously not. But It's up to that because of Bitcoin ban in China there are little bit effected at Bitcoin

[fredo123]

Obviously China shook the entire bitcoin industry , as part of adjustment the continuos decline of value realized by whole nation, and to recover it back we need to wait the exact time to break its previous records . This is the risky part of obtaining lots of alt coins and the sense we don't have specific idea when to rise and fall .There's no assurance at all.. A huge looses to those who buy btc in previous week..

[Pejoh Asu]

Do not think pessimistic and humble, believe bitcoin users outside china is bigger so if without china everything will be fine, besides of course chinese users will not be that easy leave bitcoin, they will keep active work for bitcoin.

[kamikadze69]

No. the evidence now is almost back to normal and I think bitcoin will also rise in the coming weeks.

[kpcian]

go to the cointelegraph and see the latest news in terms of dominating on the Bitcoin capital.Now Japan is the biggest market holders of Bitcoin. In recent months, most of the Chinese bitcoin holders sold thier bitcoin due to regulating by the Chinese government, in this case, Japan has received the opportunity to grab the major portion of Bitcoin market share. so that it doesn't matter that with or without China in the Bitcoin platform.

[bitcoindev2014]

all china markets will be closed

[Tigran88]

all china markets will be closed

I think no, the government of China wants to manage exchanges but can not find leverage to influence them.

[coinzoid]

I think we lost some blood but we are still alive without China. However, if lose more blood then chances will be less for us to live. Bitcoin is still okay although we heard a lot of news coming from China.

[Pursuer]

If china bans it then another powerhouse will just pop ip instead. India or Japan.

that is the issue though. there should never be a "powerhouse" in bitcoin.
bitcoin is decentralized and also it is global without any authority. this means that people sometimes mistakenly create some "powerhouse" and centralize bitcoin in their heads. in reality China, Japan,... are just a very small part of a much bigger ecosystem. they surely have big effects on bitcoin and the direction it takes but it is just an effect not all there is.

we saw as Japan adopted bitcoin the price went up and the adoption among merchants grew fast. but that just was a speed up to the process that was ongoing. and if China or any other country ban bitcoin it will just slow it down it can not stop it.

[kuronokishi10]

according to me the ban of btc in china is a set back for bitcoins,china is a huge country and plays an important role in bitcoin marketing/trading,but this doesnt mean that bitcoin will fall,all have set backs this is one of them ,the crypto currency is sure to rise.

[BingoDog]

First of all China didn't want to ban bitcoin but to regulate the exchangers and these are two different things. Second, China is big player but not the only one and I strongly believe that too much importance is given to happenings in China but this is not the only thing that determines bitcoin market, don't forget that.

[JohnBitCo]

First of all China didn't want to ban bitcoin but to regulate the exchangers and these are two different things. Second, China is big player but not the only one and I strongly believe that too much importance is given to happenings in China but this is not the only thing that determines bitcoin market, don't forget that.

China want to regulate the bitcoin but they used the wrong approach. First they said they will ban all ICO, which is not good. Only the scam ICO should be ban and the regularity authority should be setup which may monitor the ICO. They announced in such a way that they are banning ICO and bitcoin, which created panic in people for little time. The price is recovering means that bitcoin is not depended upon china alone.

[Freezingel]

Bitcoin can survive without china, it will be hard at first but bitcoin will continue to grow. China didn't ban bitcoin in the first place, they want to regulate it so they can control the money flow in their country.

[Momoamzad]

This is not true cause chaina has only 20% on bitcoin . so it is not like that if chain a ban bitcoin or ICO crypto world will die. 80% still is the global market . so relax and see .