Bitcoin without China

[Wind_FURY]

I believe the news leaks of the Chinese government's ban on Bitcoin trading and perhaps also Bitcoin mining are not FUD anymore. We have seen BTCC and ViaBTC releasing announcements that they will terminate their exchanges by the end of this month. The rest doubtlessly will also follow.

What will happen to "a Bitcoin" without China? Do we really need them to reach new highs?

[DaMut]

more or less for now we need them to reach all time new highs,
if they dump it all we will face a huge drop and we may be can see $1000 again,
but do not afraid,they are not a fools and will not do that because Bitcoin still has a lot room to grow and not implemented yet.
for example do you remember when they disabled withdrawal for the users ?
and what is the reason behind it ? to upgrade the security and fight the money launderer,pyramid schemer,etc etc.
after a few months later they enabled it again.
right now chinese goverment banning ICOs to prevent something like that again ?
i just wanna say it's a classic move.

even if they sell it and we are facing $1000 again,
i do not really care about it,because a lot of people will store it for future.
let say they will spend it all next year and we hit $1000 again,i believe Bitcoin believer will keep buying it and when the time comes the price will slowly recovering from it.

in conclusion we need them to hit all new highs for now,but for a long term view ?
i believe we can do it without them(iam not really sure they will do it btw,they are a smart people,and will not doing something like that.everything is all about profit,profit and Rich)

[ChainSmoker]

I believe the news leaks of the Chinese government's ban on Bitcoin trading and perhaps also Bitcoin mining are not FUD anymore. We have seen BTCC and ViaBTC releasing announcements that they will terminate their exchanges by the end of this month. The rest doubtlessly will also follow.

What will happen to "a Bitcoin" without China? Do we really need them to reach new highs?

I would say this,yes if you want bitcoin to reach ATH high fast then yes china should be in the picture of bitcoin But Bitcoin will reach ATH no matter what.If china bans bitcoin/no one in china uses bitcoin then also we will see price increase but not fast.It may take years but we will see 5000$ up.I want this china shit to over.All Chinese who spread FUD to gain bitcoins of week hands should be banned by their government and then we will see the healthy growth in bitcoin once the china cancer(Jihan Wu etc) is completely out of bitcoin.

[Karpeles]

There is no leaking, leaking is when official documents or something is released to the public, but there is no such things, just the media saying that someone told them that there might be a Bitcoin crackdown in the near future. Rumors at best.

One need more solid evidence to change long term investments. I don't see the hashrate falling more than usual, for example

[AtheistAKASaneBrain]

I believe the news leaks of the Chinese government's ban on Bitcoin trading and perhaps also Bitcoin mining are not FUD anymore. We have seen BTCC and ViaBTC releasing announcements that they will terminate their exchanges by the end of this month. The rest doubtlessly will also follow.

What will happen to "a Bitcoin" without China? Do we really need them to reach new highs?

It's already priced in (or might I say, out). It already happened. Why are you still talking about it? just let it go. China banned bitcoin, everything else coming from China is now irrelevant, they have no power anymore to get the price manipulated. I can't imagine the kind of idiot that is still reacting to "China ban" news. Smart money has already moved on and are now long for an all time high. Don't get trapped into the trap of the PBOC recycling the same news trying to keep making damage post-ban.

[CircularLoGic]

There is so many people involved in  bitcoin from China that it has been reflected on bitcoin price directly. So my answer is Yes on the pol.

[brobbel]

There is so many people involved in  bitcoin from China that it has been reflected on bitcoin price directly. So my answer is Yes on the pol.

And there are so many people manipulating bitcoin from China, that is a good thing they are "controlled" at this time.

There are hundreds of countries, billions of people outside China, so my answer is no.

[taibas]

look at the current price when china sells their bitcoin, I can buy at a very low price, and now the price is back to normal, All be better when bitcoin without china

[alyssa85]

There is so many people involved in  bitcoin from China that it has been reflected on bitcoin price directly. So my answer is Yes on the pol.

And there are so many people manipulating bitcoin from China, that is a good thing they are "controlled" at this time.

There are hundreds of countries, billions of people outside China, so my answer is no.

This. We've been plagued with "China bans bitcoin" stories since 2014. It will be lovely when the ban finally comes into effect and the world can move on!

[Wilhelm]

There is so many people involved in  bitcoin from China that it has been reflected on bitcoin price directly. So my answer is Yes on the pol.

And there are so many people manipulating bitcoin from China, that is a good thing they are "controlled" at this time.

There are hundreds of countries, billions of people outside China, so my answer is no.

This. We've been plagued with "China bans bitcoin" stories since 2014. It will be lovely when the ban finally comes into effect and the world can move on!

+1

To everyone here...

IMO China will never ban or allow Bitcoin. They will keep a low profile and stop the Chinese economy getting burnt on this volatile "currency" by regulating it.
They cannot stop it but directly allowing it is not a good thing either. Bitcoin needs time to blend in to the economy without hurting it. THAT is what they are doing in my opnion.

Why are the exchanges shutting down? Is it a ban? ..... exactly you have no clue ... then stop the FUD or post the evidence

There are many more plausible reasons why those exchanges could be shutting down
I also have no clue but can think of many non-ban reasons

1. Haven't registered themselves correctly as a financial institution
2. Don't adhere to rules and regulations for financial institutions within China
3. Not profitable or they cannot pay their taxes
4. Tax evasion or other criminal reasons to shut down a company
5. No good auditing in place so their business must stop
6. Insurance requirements?
7. etc.

Remember: Bitcoin is transitioning from a novelty to a real currency ....

[Denker]

I believe the news leaks of the Chinese government's ban on Bitcoin trading and perhaps also Bitcoin mining are not FUD anymore. We have seen BTCC and ViaBTC releasing announcements that they will terminate their exchanges by the end of this month. The rest doubtlessly will also follow.

What will happen to "a Bitcoin" without China? Do we really need them to reach new highs?

Mining will move to other countries. Japan seems to be trying to get a big piece of that pie. Russia seems to try to get in as well. Chip manufacturers will join this space as well. Furthermore miners like Bitmain already have farms in places like Mongolia.
Chinese exchanges weren't that much of important anymore since the end zero fee trading.
So imo China will not do itself a favor. If they wanna ban and themself off from Bitcoin so be it. The people there will find possibilites to get Bitcoin. And I'm sure corrupt politicians will still buy and sell them!!
I'm not worried in the slightest. It will make Bitcoin stronger as it is will show that ban of a mighty nation like China can't destroy it. The rich will buy even more BTC!

[electronicash]

just when the price goes $4K? such a sad thing for them really, it seem like they are backing away from the future currency. or are they just going to concentrate more on NEO. so sad though that they released it to the whole wide world and every hopeful investors owned NEO already.

[bryant.coleman]

Well, my personal opinion is that we will be much better without China. Anyway the Chinese don't like decentralized currencies. They only like currencies such as the Renminbi, which can be manipulated by the government. Just ask the question yourself. Why we need to bother so much about China, when we are witnessing increasing demand from countries such as Japan, South Korea and Australia?

[Jating]

Well, my personal opinion is that we will be much better without China. Anyway the Chinese don't like decentralized currencies. They only like currencies such as the Renminbi, which can be manipulated by the government. Just ask the question yourself. Why we need to bother so much about China, when we are witnessing increasing demand from countries such as Japan, South Korea and Australia?

I consider China a prime mover and big player in crypto sector and bitcoin in general with their mining power. However, they have chosen the path to stay away with the crypto so I guess we need to moved forward without them. Its their total lost, not us. Bitcoin is not tied to a single entity and as much as they have the mining power, it will be immediately filled in by other nations like Japan and South Korea. Its just to say to see them suddenly waging war against bitcoin which they started the revolution to begin with.

[Febo]

Does Bitcoin need China to reach new all time highs?

If time is anytime soon then answer is YES. Currently There are lots of Chinese Bitcoin users. IF suddenly by some miracle they would be cut of from Bitcoin blockchain, number of transactions would fall back not only for months but years.

[Lmaooo]

Bitcoin will survive with China or without it. What is happening right now is a result of massive dump that happened recently. Bitcoin will recover and reach another all time high in few months.

[Wind_FURY]

There is no leaking, leaking is when official documents or something is released to the public, but there is no such things, just the media saying that someone told them that there might be a Bitcoin crackdown in the near future. Rumors at best.

Then why did the Chinese exchanges announce that they will close and terminate their operations? There may be no official announcement from the PBOC but there is not proof that the leaks are the slightest of rumors either.

One need more solid evidence to change long term investments. I don't see the hashrate falling more than usual, for example

That is where you and me differ. You think Bitcoin will be affected badly because it needs the Chinese market to reach new all time highs. Bitcoin does not have to do anything. The market comes to it.

[pooya87]

it still believe that all the news about China has been greatly exaggerated which makes it big FUD. and because of that i am afraid we are not going to get rid of Chinese anytime soon. and it is pretty bad if things continue like this! as it was mentioned before, we have this drama about China for a very long time. i believe the first one was back in 2013 when they prohibited banks and other big financial firms from investing in bitcoin. and that news came out as "China banned bitcoin".

if someday they do really ban bitcoin we will finally have a lot less drama in bitcoin and hopefully the biggest source of FUD will be eliminated.
as a result bitcoin will go on stronger.

[zby]

China has I believe something like 80% of mining - if all of this is switched off - then blocks will take 5 times more time to be mined and the difficulty adjustment will come only after 5*2weeks. This slowdown will generate more criticism.

[betlord90]

Does Bitcoin need China to reach new all time highs?

If time is anytime soon then answer is YES. Currently There are lots of Chinese Bitcoin users. IF suddenly by some miracle they would be cut of from Bitcoin blockchain, number of transactions would fall back not only for months but years.

Yes chinese is one of the biggest market of Bitcoins and if China will be eliminated on the play well we can actually suffer from a crisis of price falling and actually where suffering from it right now since bitcoins is slow upon going up and reaching for another milestone unlike those other days where bitcoins has no issue that the price of it is almost unstoppable for surging harder.