Are We Dead Without China?

[Coultan]

Bitcoin will not die simply because the Chinese govt banned ICO, the marketplace in foreign countries is nonetheless a whole lot, and certainly the Chinese businessmen will uncover a way to get out of this dilemma ..

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[IanRidgwell]

By now, you should know the answer. Bitcoin's price just reached $5k despite of the Chinese issue. Bitcoin is across the world so not a single country can decide the fate of Bitcoin.

As we know the price of bitcoin is still increasing after the rejection of china to bitcoin and reaches to $5,000 which make the record and show to the world that bitcoin is independent and decentralized cryptocurrency, yes I know a little make difference but that not enough to make the world of bitcoin to its end.

[Xester]

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.

Considering its price growth right now and continuously to grow, then we are not affected by the banned made by China.  Bitcoin will be greatly affected if it came from China but since it is from the America then we are good.  Plus, not all Chinese are into bitcoin.  Many are using bitcoin and continue to use it.

[Trivelius]

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.

Bro I didn’t so because not all the bitcoin miners lie there in China. Now there is large number of bitcoin miners in the other countries of the world. Therefore the domination of mining does not hold by the Chinese anymore. If they stop mining other will double the production because of the demand and they will earn huge amount of money and then electricity will be not a problem for them.

There are many legendry peoples like bill gates etc which make bitcoin really awesome and made bitcoin to the stage that it will not be destroyed by anything, now the price of bitcoin is still increasing after a lot of rejection in the world but here it doesn’t matter and one day the bitcoin will make the people compelled to invest in bitcoin through the price and importance of bitcoin.

[andrew24p]

No China isnt even the biggest amount of investment, we saw real volumes when fees were introduced and even then exchanges could manipulate that. Even with a ban they will still be trading person to person.

[megynacuna]

No China isnt even the biggest amount of investment, we saw real volumes when fees were introduced and even then exchanges could manipulate that. Even with a ban they will still be trading person to person.

Exactly, i don't think the Chinese ban will be effective as they wanted because person to person trading can go on and on the dark web too. Bitcoin is independent of any country or government and so i don't think without the Chinese we are doomed and the current significant rise says it all.

[Babylon]

No China isnt even the biggest amount of investment, we saw real volumes when fees were introduced and even then exchanges could manipulate that. Even with a ban they will still be trading person to person.

Plus the fact that after it banned bitcoin, just a few days and bitcoin price was unstoppable.  Its price goes up and shows a great performance attracting more investors.  China does not affect bitcoin in anyways. 

[waverscoin]

China is not the only county in the world, and while it does hold a high spot in terms of economy and stock exchange it would not really kill off bitcoin or cryptocurrency idea as a whole. It might hurt it a bit, but China banned BTC then it would really only hurt itself, opening a door for a new country to ursurp the throne of the hub of bitcoin trade.

[martin1221]

If china will be banned, it surelly affect to the market but. Many of cryptocurencies are still there. Dont lose hope

[zoolz]

Even if China completely bans bitcoin then it will still be used in China. Also there are many other countries pro bitcoin so in the end it wouldn't matter much.

[8270thNinja]

Did someone died today? Good news we are still alive without china and bitcoin is still alive and already pumped higher and created new history on it's price. Without china bitcoin community and bitcoin itself is ALIVE AND KICKING.

[Frank0209]

Look at the price of Bitcoin at this time and you will know the answer for your question ). Although China is a country has biggest effect to Bitcoin price in the world but Bitcoin is not their own cryptocurrency so they can make Bitoin die by banning it in their country, it con affected to Bitcoin price in a few days then Bitcoin price still increase very quickly. As you can see the price of Bitcoin right now is about 5k7$ and I think it'll reach to 7k$ soon.

[Kikeeping]

Of course yes. In fact, effect of China's ban will encourage bitcoin to be more valuable. Because indirectly, bitcoin turnover becomes less. Without China, bitcoin more exist.

[Aba]

bitcoin can not die just because one country like china closes bitcoin for its citizens. indeed initially closing by the chinese affects the declining bitcoin price, but seen in the market exchange now, bitcoin price becomes higher

[btcholder]

I don't think so. There is no doubt China have a huge marketplace for crypto currency. But other hand in the world have many crypto currency related people without China. When China band btc it was effect hole crypto market. But look at the btc price now. You can aromatically see your answer.

[mahibul49]

hahaha
yes bitcoin can survive and its proved already.
china cant control bitcoins growth.bitcoin is king

[cryptomato]

We have observed clearly that China's effect was temporary on the price. BTC immediately recovered after China's speculative news.

[Mr.Anonymous]

I don't think so. There is no doubt China have a huge marketplace for crypto currency. But other hand in the world have many crypto currency related people without China. When China band btc it was effect hole crypto market. But look at the btc price now. You can aromatically see your answer.

That is the fact, all things are the scenario and the FUDs created by the Chinese government. Even, I can say the Chinese government had co-operate with the whale in the cryptocurrency community to created the panic on the market in the past time.

[Lamisa asfiya]

No,we are not dead without china.Bitcoin can survice without china and it was proved. it is true that,china is a big part of bitcoin. but China can't control it.besides, here are still have many powerful countries like that, Europe, Japan, Russia  etc.

[Sithara007]

Bitcoin has once again PROVEN its resilience and durance. The "China Exchange Ban" was a hiccup. Onward and upwards.

Either the Chinese will realize their folly and will jump in before it is too late, or they will remain firm and lose the advantages which come as a result of the spread of the crypto-currency. And IMO, the latter scenario is going to happen in all probability. Anyway I am not much concerned about it. Bitcoin is not illegal in my country, and there are quite a lot of local exchanges here.