China's influence on bitcoin is becoming insignificant.

[hatshepsut93]

China's influence might be fading, but it seems like they triggered a reaction all over the world, as some smaller governments also throw their voices against Bitcoin and banksters recently also joined the hate train - first Jamie Dimon, the CEO of JP Morgan and now other banks, finance firms and economists. It's not a coincidence that it started happening after Bitcoin reached all time high of $5,000 - some people realized that the threat of decentralized currency is real and they try to suppress it while they can.

[khaled0111]

Any crisis will not last forever and bitcoin is strong enough now to go over crisis.
Traders, most of them, know that and they will not sell their Bitcoins but will buy more.
Chinease government or any other government can't ban bitcoin forever since it's a world wide concept and banning it is a stupid move and they have to find another way to control and monitor their local cryptocurrency investors.
After every crisis Bitcoin become stronger.

[azguard]

China's influence might be fading, but it seems like they triggered a reaction all over the world, as some smaller governments also throw their voices against Bitcoin and banksters recently also joined the hate train - first Jamie Dimon, the CEO of JP Morgan and now other banks, finance firms and economists. It's not a coincidence that it started happening after Bitcoin reached all time high of $5,000 - some people realized that the threat of decentralized currency is real and they try to suppress it while they can.

True JP CEO even called bitcoin a fraud. This is something that is better for US and Europe to control rather then China. They already ban ICO and ban bitcoin as well so i dont see any point that China will control something again. This is just some bad vibe at least this is how I see this for the moment.

[Lancusters]

Any crisis will not last forever and bitcoin is strong enough now to go over crisis.
Traders, most of them, know that and they will not sell their Bitcoins but will buy more.
Chinease government or any other government can't ban bitcoin forever since it's a world wide concept and banning it is a stupid move and they have to find another way to control and monitor their local cryptocurrency investors.
After every crisis Bitcoin become stronger.

Why do you think so? What will happen if all the countries unite and strengthen the monitoring of online exchange offices? If cryptocurrency is to deny the possibility of exchanging for Fiat, they may rapidly lose its appeal. Exchange for Fiat's most vulnerable spot.

[Omega Weapon]

Maybe because their share in cryptocurrency is just 10 - 15 %... IF you remove them, that percentage can easily be patched-up.  So come to think of it.  Every moment, more and more countries are adopting the cryptocurrency because it is the trend nowadays... It is just like social media... When social media was introduced, mixed emotions were felt, some were excited, some were afraid because of the "PRIVACY" thing.   Now that many people/countries are accepting or using it... CHINA will eventually succumb to the trend.  I bet not for long, they will start to use this currency again....

But it is not as simple, governments love social media since people expose their complete lives there and governments can keep track of their citizens that way, bitcoin is the complete opposite of social media, bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it.

[Skyborn]

It's impossible for China to significantly influence bitcoin. The only thing they can do is to spread FUD and 'ban' things to stimulate people to sell their bitcoins.

[Potato Chips]

It's impossible for China to significantly influence bitcoin. The only thing they can do is to spread FUD and 'ban' things to stimulate people to sell their bitcoins.

Demands sways the market and china have a high trading volume not to mention, lots of miners are also there so why shouldn't it make

a significant influence on bitcoin? Don't forget that whales are still powerful. Just to be clear this doesn't mean that they can control

bitcoin completely where most fake news states e.g. china is ending bitcoin etc. because they are not the only whales or users rather.

I think that this banning stuff is inevitable because we all know that most governments is strictly monitoring bitcoin in short they are

not fond of it so sooner or later a time like this will come.its not always good times you know

[Bitcotalk]

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible  for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

well bitcoin is not just a money thing
it has become a mind battle to bitcoin investors
FUD is actually pros versus the amateurs ...

You have rightly said. I will definitely agree to what all you have said. I think Bitcoin has got this much of popularity and fame because it is something more than just a money like paper money. It is like a very good opportunity for the investors to invest in and earn a good amount of profit as well.

[Proton2233]

Can not be that China's influence was negligible. And it does not depend on the wishes or prohibitions of the Chinese government. Chinese very much. They will not abandon bitcoin, even after the ban (I still think it's fake). They will transfer their coins to other jurisdictions. If their actions are coordinated, then sell every Chinese a few Satoshi can cause a real price collapse and panic.

[nelmari]

I agree, China wanted to control Bitcoin and maybe wants to regulate the usage upon entering their country, that was why they wanted to ban ICO's and exchanges but I know for sure they will go back and still invest in cryptocurrencies. Time will only tell and they'll be back for more.

[Omega Weapon]

China's influence might be fading, but it seems like they triggered a reaction all over the world, as some smaller governments also throw their voices against Bitcoin and banksters recently also joined the hate train - first Jamie Dimon, the CEO of JP Morgan and now other banks, finance firms and economists. It's not a coincidence that it started happening after Bitcoin reached all time high of $5,000 - some people realized that the threat of decentralized currency is real and they try to suppress it while they can.

What they do not realize is that by doing that we are going to probably see one of the biggest known cases of the Streisand effect, in which the more they try to ban something the more people are going to be aware of it and will begin to look into it, some old friends told me something similar happened with heavy metal music back in the day, when they put a Parent Advisory stickers to warn listeners about the content of the music, my friend told me that if they saw that a record had that seal they bought it immediately since they knew it was a good record, so in a way the seal that tried to warn people became a seal of approval.

[Przemax]

You can always bring some possitives out of a negative sittuation. That is true.

My opinion on the whole issue is sad one for the bitcoin. The use bitcoin in China was always abused from the begining (for example by stealing the electricity). And I can not agree with the financial abuse and be fine with the involvment with corruption and China government, just because it had increased the price of bitcoin. It is good that we have most of the China effect behind but stain and the smell in the image of bitcoin will stay there forever.

[Gozie51]

Maybe because their share in cryptocurrency is just 10 - 15 %... IF you remove them, that percentage can easily be patched-up.  So come to think of it.  Every moment, more and more countries are adopting the cryptocurrency because it is the trend nowadays... It is just like social media... When social media was introduced, mixed emotions were felt, some were excited, some were afraid because of the "PRIVACY" thing.   Now that many people/countries are accepting or using it... CHINA will eventually succumb to the trend.  I bet not for long, they will start to use this currency again....

But it is not as simple, governments love social media since people expose their complete lives there and governments can keep track of their citizens that way, bitcoin is the complete opposite of social media, bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it.

Hmm... Bro, this your line of thought got me thinking -"
bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it."

This is exactly true. When government realizes that some crooks in illegal business or politicians starch money in bitcoin, they might go after them, thus leading to a debacle in bitcoin. This could lead the government to start looking for means to stop the looting and this could affect bitcoin. You could be "hearing "a death penalty for operating a bitcoin / icos account .

[lordquanta]

Maybe because their share in cryptocurrency is just 10 - 15 %... IF you remove them, that percentage can easily be patched-up.  So come to think of it.  Every moment, more and more countries are adopting the cryptocurrency because it is the trend nowadays... It is just like social media... When social media was introduced, mixed emotions were felt, some were excited, some were afraid because of the "PRIVACY" thing.   Now that many people/countries are accepting or using it... CHINA will eventually succumb to the trend.  I bet not for long, they will start to use this currency again....

But it is not as simple, governments love social media since people expose their complete lives there and governments can keep track of their citizens that way, bitcoin is the complete opposite of social media, bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it.

Hmm... Bro, this your line of thought got me thinking -"
bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it."

This is exactly true. When government realizes that some crooks in illegal business or politicians starch money in bitcoin, they might go after them, thus leading to a debacle in bitcoin. This could lead the government to start looking for means to stop the looting and this could affect bitcoin. You could be "hearing "a death penalty for operating a bitcoin / icos account .

As far as privacy of property is considered then monero does way better job in hiding trails than bitcoin. That is why monero is so popular in high-privacy circuit. Primary focus of bitcoin was not the privacy but making currency concept powerful. Tracking bitcoin transaction is indeed a tedious process.
Coming back to China influence issue, chinese effect on bitcoin market has been rendered to less   significant. Proof -> China has banned trading of bitcoin since last year and more effectively february this year. See the price trend since that time. Not much of effect. In fact countries like Japan have accepted the bitcoin and other countries are also following the trend.
Thus those days are back when china was the force to reckon with in the bitcoin market.
New powerhouses have been established and major financial players are entering in the lucrative market called bitcoin.

[1Referee]

I agree, China wanted to control Bitcoin and maybe wants to regulate the usage upon entering their country, that was why they wanted to ban ICO's and exchanges but I know for sure they will go back and still invest in cryptocurrencies. Time will only tell and they'll be back for more.

It's pure market manipulation combined with an attempt to buy time in order to come up with even more controlling/stricter regulations. I am quite confident that we'll see Chinese exchanges return their operations back to normal at some point. After exchanges, the speculation around miners in China having to shut down as well are starting to boil - it's obvious that the first attempt to crash the market hasn't resulted in success for the entities behind all this. If people stop focusing only on China and finally disconnect themselves from that country, then everything they come up with won't have any affect on the market anymore. Let them force through whatever regulations that they feel is necessary, let them ban crypto entirely, we shouldn't give a damn about this.

[JayJuanGee]

I agree, China wanted to control Bitcoin and maybe wants to regulate the usage upon entering their country, that was why they wanted to ban ICO's and exchanges but I know for sure they will go back and still invest in cryptocurrencies. Time will only tell and they'll be back for more.

It's pure market manipulation combined with an attempt to buy time in order to come up with even more controlling/stricter regulations. I am quite confident that we'll see Chinese exchanges return their operations back to normal at some point. After exchanges, the speculation around miners in China having to shut down as well are starting to boil - it's obvious that the first attempt to crash the market hasn't resulted in success for the entities behind all this. If people stop focusing only on China and finally disconnect themselves from that country, then everything they come up with won't have any affect on the market anymore. Let them force through whatever regulations that they feel is necessary, let them ban crypto entirely, we shouldn't give a damn about this.

It's true that Chinese regulatory actions and any kinds of actions are overblown - however, I doubt that we should wish for such draconian measures, either on their people or the overall effect on bitcoin.  You are suggesting that there is either no effect or a reverse effect; however, I still don't think it is a good model for other countries to emulate such draconian measures.

[Omega Weapon]

Maybe because their share in cryptocurrency is just 10 - 15 %... IF you remove them, that percentage can easily be patched-up.  So come to think of it.  Every moment, more and more countries are adopting the cryptocurrency because it is the trend nowadays... It is just like social media... When social media was introduced, mixed emotions were felt, some were excited, some were afraid because of the "PRIVACY" thing.   Now that many people/countries are accepting or using it... CHINA will eventually succumb to the trend.  I bet not for long, they will start to use this currency again....

But it is not as simple, governments love social media since people expose their complete lives there and governments can keep track of their citizens that way, bitcoin is the complete opposite of social media, bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it.

Hmm... Bro, this your line of thought got me thinking -"
bitcoin allows someone to hide their income in plain sight without the possibility of freezing or confiscating that money and that is going to drive governments crazy and some may even ban bitcoin because of it."

This is exactly true. When government realizes that some crooks in illegal business or politicians starch money in bitcoin, they might go after them, thus leading to a debacle in bitcoin. This could lead the government to start looking for means to stop the looting and this could affect bitcoin. You could be "hearing "a death penalty for operating a bitcoin / icos account .

But this is the issue they may go after them but they are not going to get a cent out of it, and if the penalties get that heavy people will just move out to other countries where there are no penalties or the penalties are less severe, besides there is always going to be some incentive for people to use bitcoin, look at countries where the taxes are very low, other countries wants them to raise their taxes but if they do it their financial sector will be ruined, so they keep their taxes at zero or very low and something similar is going to happen to bitcoin, even if bitcoin gets banned all over the world, some other countries are going to accept bitcoin and make a fortune that way.

[usorin]

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible  for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

This is available for the owners of small amounts of cryptocurrency, but for the big bosses who has a big pice of pie, they are not affected, they can simply move with theyr business from China to India for example, or Vietnam. Time will tell what will become China in this cryptoworld. Cans such a gigantic country like China become a small one in cryptoworld?

[Pleione527]

China is just a country and bitcoin is spread throughout the world, it is consider to be a global currency so I think even China control the entering of bitcoin in their country it will not affect the market of bitcoin beside I don't think that after they had banned bitcoin their people were realky stop working to earn bitcoin we all know it only takes having internet connection to access crypto currencies and they could use other stuff to save their bitcoin and convert into dollars.

[Lena_Storifier]

Time will show