Bitcoin without China

[exstasie]

Did anyone fail to notice that we only got beyond 2013 price levels when China was shut down at the start of the year?

If the Chinese zero fee exchanges still existed we would be nowhere still. The rest of the world slavishly followed them for whatever reason even though it was four teenagers and their bots. As soon as there was a rise in the West, China shat on it and it was back to square one for weeks or months.

My initial thinking (due to the timing) was that the Chinese exchanges had just been suppressing the price. Perhaps it's a tad more complex. An old stock trading friend looked at the charts and gave me a theory. He said that the 2015-2016 chart looked like insider accumulation -- much like NVDA for years before the bubble.

After getting some background in the miner economy, he surmised that Bitmain and associates were using the Chinese exchanges to manipulate the price. Accumulate for years while controlling the supply, let the supply evaporate, and let the hype feed on itself. Beautifully played, if so.

[bitllionaire]

Did anyone fail to notice that we only got beyond 2013 price levels when China was shut down at the start of the year?

If the Chinese zero fee exchanges still existed we would be nowhere still. The rest of the world slavishly followed them for whatever reason even though it was four teenagers and their bots. As soon as there was a rise in the West, China shat on it and it was back to square one for weeks or months.

We only managed a new ATH because China was out of the game. When it came back into the game it was just another market that the rest of the world wasn't paying much attention to.

Bitcoin's price would never reach its potential with China in the frame. It has no purpose or use there other than gambling. We're well rid.

confirmed

I also agree with the comment abouve. China always make speculation negatively, they don't have any positive effect on bitcoin market. So I don't expect them to be beneficial for the environment.

but i think that they have great population in involve in bitcoin therefore i think that they must have effect on bitcoin tempera rely but very soon bitcoin will recover its position and hope that it will even survive in a better way without China involvement. because bitcoin is decentralize currency and its users are present in all over the world.

[puzcoin]

 :DEven without the Chinese people, Bitcoin will continue to develop.

[shoreno]

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?

as i see bitcoin is now back and rising without china or others help. bitcoin will continue to rose higher until the end of the year and that is written on the phrophecy no one could blocked it , thats the future of bitcoin and soon bitcoin will rule the world of curenncy and will replace the dollar or any kinds of money because it has a potential above all.

[Wind_FURY]

A lot of people pay attention to China. This is wrong. China has a large number of people and therefore, helps to quickly establish a sales or production, but it is only a respite. Now bitcoin is popular enough to continue my life without China. It's even good. It is impossible that the Chinese had a monopoly on the market of bitcoins. We are already seeing how they captured the market share of global production of goods. I hope that bitcoin will not make the same mistake.

But they already have captured a near-monopoly on ASIC production. Nobody competes with Bitmain. I am hopeful that GMO and DMM (Japan) will become a force to be reckoned with next year, but we will have to wait and see.

But anyway, Bitmain's position as both ASIC producer and mining firm is pretty key here. In the long run, a Chinese ban on mining would be great for decentralization. But in the short term? The majority of hash power shutting down overnight could have some detrimental effects....

Bitmain should start outsourcing their manufacturing and distribution to other Asian countries where producing them is cheap if Jihan Wu wants his company to survive.

A prospective country for Bitmain is Vietnam. I heard that it is a good destination for manufacturers of computer parts to establish themselves. 

[Rub3n]

China is the 1 (maybe a bit more ) percent. Let them be, we have other paths left where growth can rise from.

[Yuuto]

China has always been more like an illusion that anything real. they were a part of the market, that is undeniable but it was never big. we saw clearly that their volume was 90% fake. there is no real adoption there either! compared to other countries where there are actual usage for bitcoin so it is not just for trading.

China is more like Boogeyman. everyone is afraid of it but when you turn the lights on you see nobody there.

China does have real volume still and does own a large portion of the network hashing power. You simply cannot deny that fact and i think it is not fair to just discredit their power to influence the markets like that.

But their influence has gradually declined over time because of government regulations and so on.

I'm sure that we can continue without Chinese investors and reach more all time highs. This is why price is so stable even though there is so much FUD from china and i'm sure we'll hit $5k by the end of month. Plus, China will not just vanish. People will find creative ways around the regulations, like p2p trading.

[iqlimasyadiqa]

bitcoin without china then bitcoin will survive, but when bitcoin with china then bitcoin will become stronger.
so we do not have to think about what will happen because bitcioin will still exist.

[faithupgrade]

Bitcoin without China is having a clean and peaceful trading. Most of the BTC whales are Chinese, and owner of huge bitcoin farms. They can manipulate the price if these group of whales perform a dump.

[Lieldoryn]

For me it does not matter China or any other country. We cannot allow monopolies of any country. This we put at risk the future of bitcoin. Lately manifested many flaws which the developers have not provided. I hope that they will not lead to collapse.

[chickenado]

A lot of people pay attention to China. This is wrong. China has a large number of people and therefore, helps to quickly establish a sales or production, but it is only a respite. Now bitcoin is popular enough to continue my life without China. It's even good. It is impossible that the Chinese had a monopoly on the market of bitcoins. We are already seeing how they captured the market share of global production of goods. I hope that bitcoin will not make the same mistake.

But they already have captured a near-monopoly on ASIC production. Nobody competes with Bitmain. I am hopeful that GMO and DMM (Japan) will become a force to be reckoned with next year, but we will have to wait and see.

But anyway, Bitmain's position as both ASIC producer and mining firm is pretty key here. In the long run, a Chinese ban on mining would be great for decentralization. But in the short term? The majority of hash power shutting down overnight could have some detrimental effects....

Bitmain should start outsourcing their manufacturing and distribution to other Asian countries where producing them is cheap if Jihan Wu wants his company to survive.

A prospective country for Bitmain is Vietnam. I heard that it is a good destination for manufacturers of computer parts to establish themselves. 

I thinks bitmain now will still be loyal to china even though the chaos happening is more like a funny tale. Well that's been part of the game in digital currency, spreading rumors is the strategies of bigger whales in china and maybe we can give them such respect even though it's a challenging part. The banning might be just a good ways for other people to become more aware that investing here in digital is not that easy.

[YuginKadoya]

Bitcoin without China is having a clean and peaceful trading. Most of the BTC whales are Chinese, and owner of huge bitcoin farms. They can manipulate the price if these group of whales perform a dump.

Well maybe we can consider a more peaceful trading without them but their country is behind the why is the value of bitcoin reach this kind of value, even if their government really want to control bitcoin it is their doing in why bitcoin have a great value right now, that is why the value plummets down when a fake news erupts many have seen a speculation that the price would surely fall.

[shield132]

Currently bitcoin needs china because usually big mining centers were open in china and also great exchange websites were coming from china. This means china plays a great role in bitcoin's price and it's economics. I think china's announcement was late for us, if we will have still 2-3 month, I think china could exist from bitcoin world without any issues for us.
Still hard to say, they played big role.. Can bitcoin achieve higher prices without china? Don't know what to say.

[Aamir1]

China has been one of the leading countries involved with bitcoin activities, like trading, mining and many more. So for sure, it will have some affects on the market of bitcoin if China closes down the trading platforms for its customers and every using bitcoin in China suddenly gets a break from it. Though they might start using it again from some other way but for sometime, it will surely keep the price down a little bit.

[twicezeroiszero]

A lot of people pay attention to China. This is wrong. China has a large number of people and therefore, helps to quickly establish a sales or production, but it is only a respite. Now bitcoin is popular enough to continue my life without China. It's even good. It is impossible that the Chinese had a monopoly on the market of bitcoins. We are already seeing how they captured the market share of global production of goods. I hope that bitcoin will not make the same mistake.

But they already have captured a near-monopoly on ASIC production. Nobody competes with Bitmain. I am hopeful that GMO and DMM (Japan) will become a force to be reckoned with next year, but we will have to wait and see.

But anyway, Bitmain's position as both ASIC producer and mining firm is pretty key here. In the long run, a Chinese ban on mining would be great for decentralization. But in the short term? The majority of hash power shutting down overnight could have some detrimental effects....

Bitmain should start outsourcing their manufacturing and distribution to other Asian countries where producing them is cheap if Jihan Wu wants his company to survive.

A prospective country for Bitmain is Vietnam. I heard that it is a good destination for manufacturers of computer parts to establish themselves. 

I thinks bitmain now will still be loyal to china even though the chaos happening is more like a funny tale. Well that's been part of the game in digital currency, spreading rumors is the strategies of bigger whales in china and maybe we can give them such respect even though it's a challenging part. The banning might be just a good ways for other people to become more aware that investing here in digital is not that easy.

The event banned ICO market and some exchanges by the Chinese government has many benefit.
It can helps the whales can buy a huge amount of Bitcoin with bottom price + create a FUD for traders on the market.
Therefore, most of the traders have not experience are fearing, they very worry about invest into cryptocurrency after see the price of them fall down tremendously.

[BrewMaster]

bitcoin without China will remain bitcoin as it was bitcoin before

China has never been controlling bitcoin despite what the FUD wants to force on people but the sad part is that sometimes truth does't matter but instead what people believe in matters.
sometimes it is even hard to change false beliefs. if you tell them the earth is round they will hang you for blasphemy!

that is why there is a panic sell each time there is negative Chinese news and that is exactly why it never lasts long and price always recovers even without Chinese.

I will wait to share your optimism until we are making new all-time highs. Until then, I'm not sure I can agree that price has recovered.

I'd say the ICO and exchange ban aren't major issues in the long term. But if they follow through on the rumors about banning mining activities and the network itself, that would be far more detrimental. China provides a majority of the hash rate and is the biggest player in chip fabrication. It would certainly throw a wrench into the ecosystem.

worst thing that can happen in case China banned mining is a drop in hashrate! and that means some delays in finding of blocks until the difficulty adjustment time in two weeks tops. and by that time everything will be back to normal again!

of course the FUD will be present at all times but bitcoin will continue on. and remember the big %%% of hashrate comes from "pools". miners from those pools may very well continue mining but on a different pool. in other words some relocation will be in order.

[electronicash]

A lot of people pay attention to China. This is wrong. China has a large number of people and therefore, helps to quickly establish a sales or production, but it is only a respite. Now bitcoin is popular enough to continue my life without China. It's even good. It is impossible that the Chinese had a monopoly on the market of bitcoins. We are already seeing how they captured the market share of global production of goods. I hope that bitcoin will not make the same mistake.

But they already have captured a near-monopoly on ASIC production. Nobody competes with Bitmain. I am hopeful that GMO and DMM (Japan) will become a force to be reckoned with next year, but we will have to wait and see.

But anyway, Bitmain's position as both ASIC producer and mining firm is pretty key here. In the long run, a Chinese ban on mining would be great for decentralization. But in the short term? The majority of hash power shutting down overnight could have some detrimental effects....

Bitmain should start outsourcing their manufacturing and distribution to other Asian countries where producing them is cheap if Jihan Wu wants his company to survive.

A prospective country for Bitmain is Vietnam. I heard that it is a good destination for manufacturers of computer parts to establish themselves. 

definitely something they should consider.
or they can do it in the Philippines where the government don't care. electricity could be an issue here but i think its possible for miners operate by setting up my wind turbines or solar panels for mining.

[RamonBTC]

Nope if all nation will support bitcoin without china will be on top as always. It is just that china making noise about they're existence in bitcoin for others to backed of and follow they're lead. But that case only applicable if china totally banned bitcoin but that is not happening right now. They just want attention as what they always do even in a real world scene.

[exstasie]

A lot of people pay attention to China. This is wrong. China has a large number of people and therefore, helps to quickly establish a sales or production, but it is only a respite. Now bitcoin is popular enough to continue my life without China. It's even good. It is impossible that the Chinese had a monopoly on the market of bitcoins. We are already seeing how they captured the market share of global production of goods. I hope that bitcoin will not make the same mistake.

But they already have captured a near-monopoly on ASIC production. Nobody competes with Bitmain. I am hopeful that GMO and DMM (Japan) will become a force to be reckoned with next year, but we will have to wait and see.

But anyway, Bitmain's position as both ASIC producer and mining firm is pretty key here. In the long run, a Chinese ban on mining would be great for decentralization. But in the short term? The majority of hash power shutting down overnight could have some detrimental effects....

Bitmain should start outsourcing their manufacturing and distribution to other Asian countries where producing them is cheap if Jihan Wu wants his company to survive.

A prospective country for Bitmain is Vietnam. I heard that it is a good destination for manufacturers of computer parts to establish themselves. 

It's not clear this will be necessary. Even if mining itself were prohibited by the government, and assuming that Bitmain would comply (at least domestically), that doesn't mean that mining production must be ceased. From a capital outflow perspective, it makes sense to allow Bitmain to continue to dominate the ASIC manufacturing market. Why? As long as CNY purchases are restricted (thereby preventing Chinese investors from mining BTC), then Bitmain represents a net capital inflow for the country.

I think it goes deeper than this, though. I honestly wonder if the Chinese intend to nationalize mining operations.

[bettercrypto]

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?

China is a big country and there are lots of people who are willing to jump to Bitcoin wagon just to take advantage of the opportunity.  If ever China is removed from the Bitcoin economy, I believe large portion of the current Bitcoin support will be removed making Bitcoin price value to plank.  Though I also believe market will recover, new bloods from other country will join the Bitcoin community and once again the price will rally to its new ATH.