End of Dragon Era?

[HasHe]

Despite china's actions to ban ICOs and strictly regulate bitcoin exchanges,bitcoin price has recovered from a slight downfall and now its price is $3950.More over,japan's internet giant GMO has announced that it would start manufacturing ASIC miners which would be a big competition to Bitmain in mining industry.

  So,would it be correct to term this as end of dragon era in bitcoin?

[NeuroticFish]

China still has the benefit of cheap electricity, cheap workers and from the fact they can copy anything without worries on copyrights.
If the Japanese will make a better ASIC miner, it'll get copied and used locally. I don't know what their regulations are about, but normally they should help Bitcoin and people reaching it legally, however, even regulations cannot stop Bitcoin. Even a ban would only make a little harder to do Bitcoin transactions, but the rest of their BTC industry - mining, ASIC building - will remain mostly unharmed.

All in all, while Japan and other countries will get bigger and bigger shares of the cake, the dragon era is not over yet, their share of the cake is still very big.

[kotajikikox]

Despite china's actions to ban ICOs and strictly regulate bitcoin exchanges,bitcoin price has recovered from a slight downfall and now its price is $3950.More over,japan's internet giant GMO has announced that it would start manufacturing ASIC miners which would be a big competition to Bitmain in mining industry.

  So,would it be correct to term this as end of dragon era in bitcoin?

more bitcoiner afraid about the china  banned for bitcoin exchange the value dip down last week almost 3500$ because people shock the dicision of china bitcoin banned and the people panicking, until now the decision of china still stand banned the bitcoin, but starting this week even have banned for bitcoin slowly go rising again the value of bitcoin, so i never believe END OF THE DRAGON.

[pedrog]

China still has the benefit of cheap electricity, cheap workers and from the fact they can copy anything without worries on copyrights.
If the Japanese will make a better ASIC miner, it'll get copied and used locally. I don't know what their regulations are about, but normally they should help Bitcoin and people reaching it legally, however, even regulations cannot stop Bitcoin. Even a ban would only make a little harder to do Bitcoin transactions, but the rest of their BTC industry - mining, ASIC building - will remain mostly unharmed.

All in all, while Japan and other countries will get bigger and bigger shares of the cake, the dragon era is not over yet, their share of the cake is still very big.

Chinese miners may lose cheap electricity, apparently they do not qualify for government electricity subsidies and they're being investigated right now.

[Nawaytes]

I hope this is the end of the golden age of dragons, and welcome to the samurai dynasty. Hopefully they don't make panic attacks like the dragon (always) to get a cheaper bitcoin. Without China bitcoin will be fine.

[Karpeles]

Japan can't compete in prices with China, they have cheap almost slave labor and China keep their currency artificially devalued in relation to dollar. Unless they make a breakthrough on ASIC technology or the rumors about China cracking down everything about BTC comes true they probably won't be competitive

[NeuroticFish]

Chinese miners may lose cheap electricity, apparently they do not qualify for government electricity subsidies and they're being investigated right now.

When they'll lose this, then we can indeed talk about "end of dragon era".

Japan can't compete in prices with China, they have cheap almost slave labor and China keep their currency artificially devalued in relation to dollar. Unless they make a breakthrough on ASIC technology or the rumors about China cracking down everything about BTC comes true they probably won't be competitive

If Japan makes a "breakthrough on ASIC technology", China will copy it in no time, then use/sell a much cheaper clone.
I see Japan's power in the financial institutions. They can earn a lot from trading and investing in businesses that incorporate Bitcoin on various levels. The Bitcoin's ecosystem has a huge potential of growth.

[talkbitcoin]

So,would it be correct to term this as end of dragon era in bitcoin?

no, because the "dragon" had never had any era in bitcoin for it to end. the price, the volume (real vol not fake vol), the number of good exchanges, number of real businesses adopting bitcoin, number of merchants, people investing in bitcoin,.... are a lot more in other countries compared to China.

the only thing that has ever been big in China was mining farms and mining manufacturers. and nothing about these two has changed yet.

[carlisle1]

China still has the benefit of cheap electricity, cheap workers and from the fact they can copy anything without worries on copyrights.
If the Japanese will make a better ASIC miner, it'll get copied and used locally. I don't know what their regulations are about, but normally they should help Bitcoin and people reaching it legally, however, even regulations cannot stop Bitcoin. Even a ban would only make a little harder to do Bitcoin transactions, but the rest of their BTC industry - mining, ASIC building - will remain mostly unharmed.

All in all, while Japan and other countries will get bigger and bigger shares of the cake, the dragon era is not over yet, their share of the cake is still very big.

Chinese miners may lose cheap electricity, apparently they do not qualify for government electricity subsidies and they're being investigated right now.

that's their problem right now and if japan pursue about this plan more people will support this as we knew that they got a quality works than china
so even china have capability duplicating anything the quality will still the basis so for me OP has good point its and end of their era now.

[BTCLovingDude]

i will only believe this when i see Chinese trading volume goes to actual zero. until that day they are in the game with the same strength as before (it was not as big as they showed it on the media but it was big enough).

and so far the volume is not actual zero. there is a lot of activity coming from China. did you know that bitcoin price is so much lower over there? and people are on a buying frenzy? on top of it there is always localbitcoins and others where they keep trading bitcoin on.

[Przemax]

i will only believe this when i see Chinese trading volume goes to actual zero. until that day they are in the game with the same strength as before (it was not as big as they showed it on the media but it was big enough).

and so far the volume is not actual zero. there is a lot of activity coming from China. did you know that bitcoin price is so much lower over there? and people are on a buying frenzy? on top of it there is always localbitcoins and others where they keep trading bitcoin on.

There was always such a sittuation with the chineese exchanges that they were faking the volume quite badly. Even the ceo of BTCChina once have admitted that it was a huge issue.

People were on a buying frenzy and new money were flowing to the Mtgox as well.

I am not saying if the sittuation at the China with btc is fake or not. I know that China has all the reasons in the world to control their financial system. When you are in possition of devaluing you currency you said a) you need to say b) to control the ways how money is transfered to and from the country. It is just logical to assume the whole sittuation is for real.

[Flomo]

the bitcoin heyday is not limited to here, bitcoin has penetrated into the world and many countries have recognized it, so bitcoin does not just stick to china, and fore all issues will disappear over time.

[Siren]

Despite china's actions to ban ICOs and strictly regulate bitcoin exchanges,bitcoin price has recovered from a slight downfall and now its price is $3950.More over,japan's internet giant GMO has announced that it would start manufacturing ASIC miners which would be a big competition to Bitmain in mining industry.

  So,would it be correct to term this as end of dragon era in bitcoin?

Its there own doing that causes the end of the dragon era. The bitcoin that they cherished and started was suddenly put to a halt by their government. For me, the mining industry will be affected as well sooner or later. Let all look at it at the bright side, other countries will take over, like you said. Japan has invested heavily on mining hardware so in about a couple of years they will also be a force to reckon in terms of bitcoin mining hardware or mining itself. So yes, its the end of the dragon era as I see it.

[michkima]

Despite china's actions to ban ICOs and strictly regulate bitcoin exchanges,bitcoin price has recovered from a slight downfall and now its price is $3950.More over,japan's internet giant GMO has announced that it would start manufacturing ASIC miners which would be a big competition to Bitmain in mining industry.

  So,would it be correct to term this as end of dragon era in bitcoin?

They're just reluctant now, but I think they'll change their minds. When China see's that bitcoins and the cryptocurrency industry can change the world, it will re-evaluate it's decisions. But right now, I don't think they'll close everything and shut out crypto, maybe this is just a way of them being able to control it since ICOs and cryptos are getting out of hand.

[pixie85]

the bitcoin heyday is not limited to here, bitcoin has penetrated into the world and many countries have recognized it, so bitcoin does not just stick to china, and fore all issues will disappear over time.

And China has shot itself in the knee by disrupting trading. If it ever goes forward with the plan of banning crypto and kills mining too they'll lose so much potential income and cripple part of their industry that's already worth billions. Let them be dumb, there's no cure for that.

[deisik]

Despite china's actions to ban ICOs and strictly regulate bitcoin exchanges,bitcoin price has recovered from a slight downfall and now its price is $3950.More over,japan's internet giant GMO has announced that it would start manufacturing ASIC miners which would be a big competition to Bitmain in mining industry.

So,would it be correct to term this as end of dragon era in bitcoin?

I guess yes, that would be correct

But this Red Dragon era actually didn't end today, it ended a way earlier, namely, in January-February this year when the Chinese central bank (PBoC) had launched its double attack against Chinese cryptoexchanges. The first time it really had some traumatic effect on Bitcoin (the price went down from over 1,200 dollars down to 750 dollars per coin), though it quickly rebounded. The second time, when the PBoC ordered the exchanges to suspend all crypto withdrawals as well as deposits, the effect was mostly insignificant and ultimately inconsequential. As it seems to me, that was the real end of the Dragon. What we see today is just its agony and death throes

[stompix]

If Japan makes a "breakthrough on ASIC technology", China will copy it in no time, then use/sell a much cheaper clone.
I see Japan's power in the financial institutions. They can earn a lot from trading and investing in businesses that incorporate Bitcoin on various levels. The Bitcoin's ecosystem has a huge potential of growth.

Yeah they can copy it but they will need the know how to produce it.
And it's not like in a car where you can easily copy as the materials are known and the manufacturing process is simple.

We're talking about 7nm chips which until now nobody has the technology to produce.
It doesn't matter if you have the finished product at hand, there is no way to copy it.

The same happened to the materials from the f35. They have the blueprints but they are unable to produce the materials as they lack the technology.

[hatshepsut93]

Maybe the recent Chinese action against crypto was caused by the fact that China lost a significant amount of their influence over cryptocurrencies in this year. First, they have lost their dominance in Bitcoin market volume, so they no longer can manipulate the price, and then with a failed attempt to takeover Bitcoin with their project Bitcoin Cash it became clear that mining power doesn't equal to control over the network, because you can't force full nodes to follow you. So, it's possible that China started viewing Bitcoin as a threat, especially if it can be used as a gateway for their money to escape the country.

[DewiKirana]

This is good news. Better that the dragon era soon ends and vanishes, it will make better bitcoin and no tension like yesterday. I hope in the era of samurai will be better than the era of dragons.

[2double0]

It feel really great whenever I take part in a debate that includes China nowadays. 
Actually yes, we may call this as an end atm because other countries are not following such harsh actions of China and doing what they want in their own insignificance towards China's bullshit bans. We should feel great that Chinese investors are still not leaving Bitcoins by "shifting" their money out of China to Japanese and Korean exchanges (according to news reports) and buying back Bitcoins. This shows that whether any government may interfere and shut down things off their country, but they can't kill the interest and enthusiasm we Bitcoiners have in ourselves.