Are We Dead Without China?

[salihno71]

One can argue the statement but at the moment bitcoin (and all cryptos) are still in quite early stage of development. Events like the recent ones in China help establish weak points and possible problems in the future and make (bit)coin more resilient to future problems. So in unlikely development that the bitcoin would fail totally for some reason, i'm quite certain that the some new coin would implement the solution to the problem which would cause the failure and move on.

[1714007717]

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[Tungsten-1]

bitcoin does not need the chinese market to live

Yeah you are right mate we are not dependent on the china for the future of the bitcoin because a lot of the other huge and the high level countries are using bitcoin now. So the price of the bitcoin is getting high everyday and more people are getting into bitcoin. Bitcoin can never be dead after being ban in the china because many other countries are accepting bitcoin now.

[ivrynx]

definitely not, though china has a large percentage of bitcoin users, but it will not kill bitcoin itself, we must remember that china is not the only country in the world that uses bitcoin, if it did and if bitcoin is only produce in china then it will be possible, fortunately it is not. we must not be worry about china making its decisions about bitcoin, though it is a superpower, we also have a lo of countries that will support or is supporting bitcoin, their decision might have an effect on the price of bitcoin, but for sure other countries will make sure that they will profit from bitcoin. we must also check the news on china, since there are a lot of fake news that is produced by their media, we mus not easily give in to that, since there will still be clarification so will not make a wrong decision in the end. as of now from all the articles that i've read, i think china is still making ways on how to regulate bitcoin in their country and also  trying to protect its people from scam ICOs, that we all know anyone could do, since we can easily create our own websites to scam people, but why would you do that if you could earn bitcoin honestly and feel satisfied afterwards. we must also consider global economics and not just rely on china about the future of bitcoin, remember that there are a lot of factors that will affect bitcoin, and though china is one of them, if china decides to get rid of bitcoin, then we must respect their decision and move on, since other countries also legalized bitcoin and for sure they will make ways on how to profit from bitcoin and we will all still be affected.

[voltesbit777]

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.

This is true, China actually is doing harassment  to all ICO which I think for me is a wrong moved by China. Because we all know that not all ICO are scam,isn't right? And lastly, bitcoin still stand strong because of its decentralization of bitcoin has it now. Meaning, can't able to beat it which is bitcoin.

[BrewMaster]

Bitcoin will still bitcoin even without China. We are still going to earn and I guess bitcoin will still increase in the future, it will takes time but for sure its worth the wait. So hopefully, a lot of us will have a long patience.

True, and in fact the price is close to $ 4000, I'm sure bitcoin users will not be much affected by this issue and this is actually an opportunity for users to buy more bitcoin because the price is going down.

the price recovery happens every time after the FUD ends. because each time after the FUD is at its max and the weak hands dump the others buy their coins and keep buying it until it comes back up a little. then the same weak hands start buying back again because they soon start fearing to miss out on the rise!

[Omega Weapon]

Do not worry, without china bitcoin will continue to be brilliant, south korea and japan are getting active and massive using bitcoin and i'm sure without china everything will be fine.

I would like China to keep being on bitcoin and the Chinese investors to keep buying bitcoin however if it comes to the point in which China bans bitcoin then there is no doubt that we are going to lose a big market however that void will eventually be filled by the likes of Japan and other countries, the price will decrease if such a thing happened but after a few months things will get back to normal, so we must not be afraid of that scenario if it came to happen.

[djgtr]

Do not worry, without china bitcoin will continue to be brilliant, south korea and japan are getting active and massive using bitcoin and i'm sure without china everything will be fine.

I would like China to keep being on bitcoin and the Chinese investors to keep buying bitcoin however if it comes to the point in which China bans bitcoin then there is no doubt that we are going to lose a big market however that void will eventually be filled by the likes of Japan and other countries, the price will decrease if such a thing happened but after a few months things will get back to normal, so we must not be afraid of that scenario if it came to happen.

yes i agree if these thing gonna happen the crypto world is having to loose a big market .but it doesnt mean that cryptocurency well be dead wihout chinese investors.these the same old story of the bitcoin price that goes up and down at first if these happen i believe that the bitcoin price will go down and in a short period of time it is going back to normal.

[Bitcoincole]

Do not worry, without china bitcoin will continue to be brilliant, south korea and japan are getting active and massive using bitcoin and i'm sure without china everything will be fine.

I would like China to keep being on bitcoin and the Chinese investors to keep buying bitcoin however if it comes to the point in which China bans bitcoin then there is no doubt that we are going to lose a big market however that void will eventually be filled by the likes of Japan and other countries, the price will decrease if such a thing happened but after a few months things will get back to normal, so we must not be afraid of that scenario if it came to happen.

yes i agree if these thing gonna happen the crypto world is having to loose a big market .but it doesnt mean that cryptocurency well be dead wihout chinese investors.these the same old story of the bitcoin price that goes up and down at first if these happen i believe that the bitcoin price will go down and in a short period of time it is going back to normal.

My answer is NO, bitcoin can handle many times without china and russia banned ICO's, if this country holds a big contributor to bitcoin of 20%  then forget it we can survive even without them. The more trials encounter by ICO it stand stronger as years passed.

[MyIdeas]

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 in which they hold big percentage of annual improvement of income and transactions when we are talking about money, but I dont believe that bitcoin is dead without China, it is still functional, people can still exchange and invest here but we should accept that when they banned bitcoin in their place bitcoin's price dump at 10% which is totally disturbing in exchanges and transactions here, people who hold bitcoins gets alarm and immediately transfer almost half of their earning into their country's currency but still bitcoin is slowly taking its price and I believe it will still be functional.

No doubt China rules the market and 80 percent of bitcoin trading was done in that land. After is banning everything related to crypto coins, there was chaos everywhere and the prices fell down? However, China put on such show in 2013 also. Bitcoins were able to survive then and they will make through this tough time also. Nothing can stop the unstoppable.

[cryptoid2017]

Nope, if one market disappears, the others will grow. Not to mention that the Chinese ban is not irreversible and can be lifted after some time. Would not be the first such case.

[sheldonnnn]

Today we can see that Bitcoin is already recovering and growing up without China market. It was a serious blow but not a fatal one. My point of view is quite optimistic. I believe that bitcoin will reach 5000 $ again  in spite of this case.

[Lambe Ndumble]

Bitcoin is decentralized, and it all depends on the user, china is the biggest user but I think we will not die even though the Chinese government banned bitcoin.

[blockchainmarketus]

Yes, they are a power house, but recent events show that without China bitcoin will move on. to answer your question, bitcoin is very much alive, china or no china.

DOn't worry about CHina, bitcoin is world wide use, CHina market is less than 20 % and it is better now to move out CHina, Now they go to Japan and south korea. It is better because both countries are more open minded than CHina. The Chinese traders will move to both countries I think.

[MintCondition]

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 in which they hold big percentage of annual improvement of income and transactions when we are talking about money, but I dont believe that bitcoin is dead without China, it is still functional, people can still exchange and invest here but we should accept that when they banned bitcoin in their place bitcoin's price dump at 10% which is totally disturbing in exchanges and transactions here, people who hold bitcoins gets alarm and immediately transfer almost half of their earning into their country's currency but still bitcoin is slowly taking its price and I believe it will still be functional.

No doubt China rules the market and 80 percent of bitcoin trading was done in that land. After is banning everything related to crypto coins, there was chaos everywhere and the prices fell down? However, China put on such show in 2013 also. Bitcoins were able to survive then and they will make through this tough time also. Nothing can stop the unstoppable.

They might just making some Fud to get the opportunity to buy more and once they think they already hold enough they might return on business track,everything now is for show , we never know what they will do next. So be consistent on our decisions when we are deciding for buying and selling it.

[futuret]

It seems to me that the absence of Chinese market of bitcoin will only benefit. Too many of them and so they can always dictate terms to the bitcoin community. I am against monopolies in any form. But I think that this is just a rumor and the Chinese will not abandon bitcoin.

It is right now the bitcoin has its own value and the recognition. Price of the bitcoin is high now all around the world. Bitcoin is famous in almost every country. Price of the bitcoin is stable now it still it is increasing. Bitcoin is popular for the unexpecting price pump and the opportunities for the users so bitcoin can never be dead without any country.

[Falgorn]

It will be more correct to say that China is dead without us and crypto-currencies. The prohibition of crypto-currency in their country leads China to self-isolation and a decrease in the flow of money into its economy. Sooner or later they will understand it and will themselves want to return to the world market of crypto-currencies. Perhaps this will happen by the end of October.

[peter0425]

Yes, they are a power house, but recent events show that without China bitcoin will move on. to answer your question, bitcoin is very much alive, china or no china.

DOn't worry about CHina, bitcoin is world wide use, CHina market is less than 20 % and it is better now to move out CHina, Now they go to Japan and south korea. It is better because both countries are more open minded than CHina. The Chinese traders will move to both countries I think.

On the contrary, the opposite had happened. The price is going strong without China and I'm seeing a bull run again and maybe push the price to $5000. We don't need to worry about China now because others have taken over like Japan and South Korea in Asia. And the they stay out of the bitcoin picture, the more they become irrelevant to us.

It will be more correct to say that China is dead without us and crypto-currencies. The prohibition of crypto-currency in their country leads China to self-isolation and a decrease in the flow of money into its economy. Sooner or later they will understand it and will themselves want to return to the world market of crypto-currencies. Perhaps this will happen by the end of October.

There are alot of news saying that China's ban is just temporary. If that is true, then we will see them again. The market didn't suffer from them, but the Chinese investor who have lost a lot of opportunity to profit. They have been put at a disadvantage by a particular situation or course of action because of their Government's decision.

[laravuemaster]

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.

If you are going to look at the market price right now , You will notice that it is already going back to normal and it was periodically increasing, So cheers to those who invest at the downtime, They are all so lucky.

[l3sny]

I dont think that we are "dead" without china, but it was obviously one of the most biggest markets that were buying/selling bitcoins and altcoins, and 3 of 6 new ico's were born in China. I dont know why, but almost all the countries in Asia are very introduced in bitcoin, i dont know why it doesnt happen in Europe, or America, it is a little bit weird.

[devil jin]

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.

Although the banning of bitcoin in China occurs that has a direct effect on the bitcoin's price rate, I think that was not an enough issue to state that bitcoin will be "dead" and the bitcoin users will be totally affected just because we loss one of the major contributors wherein huge potential investors can be found. China is just a part of the bitcoin's big community so there is no reason for bitcoin to die since there is still a large population and countries remaining to support bitcoin and those are enough for bitcoin to stand again and regain its loss from the recent happening.