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Fappanu
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October 20, 2017, 08:49:59 AM |
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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.
No we're not, it's true that China holds a big amount of bitcoin, however, there are bigger countries that holds majority of bitcoin. China affected bitcoin price somehow when they banned bitcoin. They might have realized by now that they made a big mistake because bitcoin price grew a thousand dollars more after what they did. |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Soranith
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October 20, 2017, 08:57:31 AM |
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Yes China has population a sizable chunk of world economy. If Bitcoin is banned by China surely it will affect Bitcoin but will not kill the king of all coins. China is not the rest of the world economy.
China already implement their banning though they did not banned bitcoin entirely but they made their move and it did affect the price of bitcoin when the news came out but look at bitcoin right it manage to go up and even make a new ath so I think we will be fine without China. |
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romecheo
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October 20, 2017, 09:01:37 AM |
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Bitcoin are very much alive, even without China or other countries. In fact, after China announcement a month ago Bitcoin value was gain 96 percent increase.
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Scorpion
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October 20, 2017, 09:07:22 AM |
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Absolutely not, we're a stronger community with or without China. China as a whole we're struggling to be on the same page, but we still have people globally that Chinese or are originally from China that still support Bitcoin no matter what so it's a complete loss in that regard.
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MoneyIsDebt
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October 20, 2017, 09:10:41 AM |
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This is not possible Well in my opinion China is a big influence in bitcoin and theres a large number of investor
but china will definitely have some effects if china banned Bitcoin. thats not a big deal for me
Bitcoin can survive without china.
Yeah i think it will create some impact and surely china has a great influence on bitcoin and almost 40% of the investor and miners of the bitcoin are from china but i don't think the negative impact of it will survive long and thing will be normal after some time may be a year or later. if we look toward Google and facebook, which have both been banned in China for a long time, but still thrive. The world is very big without them and you can still flourish without them. |
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Faroxx
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October 20, 2017, 09:17:46 AM |
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I think bitcoin can survive without China. China was the first bitcoin mining and that there is so much capacity, but now the whole world is beginning to mine bitcoins and China have no monopoly in this.
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hunterkrypto
Newbie
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Activity: 51
Merit: 0
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October 20, 2017, 09:35:53 AM |
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I think we can survive without China
China is a big contributor to bitcoin and other crypto-kurrocurrency as well but I think now bitcoin is very hard in the weir even without the china so do not worry
I am not sure they will close the country as a market for Bitcoin, I think the government ban is temporary.
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DoublerHunter
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October 20, 2017, 10:55:57 AM |
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Absolutely not, we're a stronger community with or without China. China as a whole we're struggling to be on the same page, but we still have people globally that Chinese or are originally from China that still support Bitcoin no matter what so it's a complete loss in that regard.
We can still do the same things in the future even there is no china that supports the bitcoin foundation and i believe that because of the banning of bitcoin in china, it will encourage more countries because people will think that they will have more chance to make more profits because the big fish is already turned its back from bitcoin and we can now take advantage of it. |
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The_prodigy
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October 20, 2017, 10:59:42 AM |
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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 losing china is a big blow but we must also remember that there are still other countries that we can look forward to and yet here we are surviving and earning at least with Bitcoin. China might have forsaken us but bitcoin is still there and we can still capitalize on it. |
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Babylon
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October 20, 2017, 11:03:53 AM |
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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 losing china is a big blow but we must also remember that there are still other countries that we can look forward to and yet here we are surviving and earning at least with Bitcoin. China might have forsaken us but bitcoin is still there and we can still capitalize on it. I do not think that losing China is something big. Just look at the current price of bitcoin compared to the price when Chinese government banned bitcoin, its price drops just right. Its price dropped a little and the price which is nothing to be worried about. It just dropped then because there was an issue also stated by Dimon. But looking at the price right now, we are good without China. |
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Andre_Goldman
Sr. Member
Offline
Activity: 322
Merit: 253
Property1of1OU
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October 20, 2017, 11:04:36 AM |
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regards death (crypto) you're dead when the doctor says so ...  |
Patent1number: ****-****
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DewiKirana
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October 20, 2017, 11:10:09 AM |
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Bitcoin mining in China is good for miners and bitcoin, because the electricity tariff is cheap. But it can not be a reference to conclude dead bitcoin without China. If China does not contribute to bitcoin, there are many other countries that contribute. So do not worry.
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meliodas
Sr. Member
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CryptoTalk.Org - Get Paid for every Post!
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October 20, 2017, 11:19:16 AM |
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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.
I believe so. With the right technical transaction, bitcoin may be able to survive without Chine. It has survived through the internet, and we keep earning and using it because of the internet. They just need a particular place to transfer the storage of data. |
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Cazemiro
Member
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Activity: 252
Merit: 31
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October 20, 2017, 12:07:27 PM |
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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.
I believe China is relevant, principaly by the potential of users ( more than 1.3 Billion people),but, the more important point, is the decentralized nature of Bitcoin , the future of Bitcoin is guaranteed. A Big Player, can manipulate the market but not end . Let's wait for the next, China´s steps. |
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mindfly09
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October 20, 2017, 02:19:34 PM |
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Yes everyone knows that china is one of the biggest mining in the world and it has a big impact on it when it was ban. but we know bitcoin survive even without china. When we search the internet so many big countries are consumers and believe in bitcoin and many are coming and more investor invest bitcoin. Because now bitcoin continuous increase so it will remain strong and most famous.
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Hasbro27
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October 20, 2017, 04:53:49 PM |
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I think bitcoin will not die without China, although many Chinese communities and bitcoin users, because there are many other countries that use bitcoin. so bitcoin will be fine without china.
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x86Daddy
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October 20, 2017, 06:49:07 PM |
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I think bitcoin will not die without China, although many Chinese communities and bitcoin users, because there are many other countries that use bitcoin. so bitcoin will be fine without china.
Yes, I agree with you. Many countries have accepted Bitcoin like a payment facility like Japan. We don't need to worry about banned by China. Bitcoin will survive and make the profit.  |
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SteffCoins
Newbie
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October 20, 2017, 07:09:12 PM |
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No. The banning had caused a minor effect on the Bitcoin price but without China there will always be another country which can become a major player like China. So, Bitcoin will not die even without China.
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hxk451
Member
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Activity: 154
Merit: 12
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October 20, 2017, 07:21:47 PM |
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China may be an enormous showcase for crypto currency, in any case it doesn't intend anything. In china might need banned the coursing library of the crypto currency, it might need begun and Johnson had proceeded will exist effectively clinched alongside whatever remains of those world, streaming from china should these nations. However, china doesn't arrangement to boycott crypto particular cash and subsequently there is no risk to it. There worth of effort may be under lifestyle to control its coursing library inside this organizations in the nation and its outcomes will quickly be seen.
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ausbit
Legendary
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Activity: 1330
Merit: 1019
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October 21, 2017, 05:14:31 AM |
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I think bitcoin will persist even without China, in the absence of chinese does affect bitcoin, but now the price of bitcoin has returned to normal without china.
If the question is ask in the future I mean in 2020 when the price of bit could be 10k. We are not dead if the price of bit coin can go up to 5k then why not it is possible to touch the 10k point. Don’t worry sir if you have funds invest it in bit coin and wait for a while, after the announcement of china ban and its price stability it is now much sure that bit coin can really touch the 10 k point. Remember such profit can only make by risk lovers not risk averse. |
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