End of Dragon Era?

[pearlmen]

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?

Bitcoin has not only touched the $3950 but has consistently surpassed the $4000 mark and its equally good news that the Japanese government are taking the bull by the horn rather than playing by the side ways like most countries are doing. The dragon era is not yet over, as this will continue to repeat itself in the sense that, if its not China, it will be another country but until when bitcoin has reached a larger percentage of the population, we can then admit that the dragon era is indeed over.

[Falgorn]

We do not yet know for sure how the Chinese government will act in relation to the existing decentralized currency and what will result from such events. After all, it may be that the imposed prohibitions and restrictions on the expected results do not bring and China will have to cancel them.

[alyssa85]

Yes - it's the end of the Dragon Era.

China has made a serious mistake. Bitcoin was one of the few technologies where they had an input and an effect - eg inventing ASICs and dominating mining.

That baton will pass to Japan. Ever since japan legalised bitcoin earlier this year, we've had mining developments and exchanges opened and whatnot. By the end of next year they will have dominated mining and China will be languishing behind their firewall wondering where it all went wrong.

[FrueGreads]

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?

Well I think it's time for bitcoin to expand and don't be associated with any particular country. That's one of the points on decentralization I guess. With everything that is happening with China bitcoin is only getting stronger, even though that is not still reflected in it's price. As soon as bitcoin gets immune  to China FUD, the market will gain more trust on BTC. Since many countries like Japan, Russia, South Korea, etc, are investing in it, and in it's development, rumors from China will no longer be able to cause huge fluctuations on the price, and more and more people around the world will buy it, and it's volatility will decrease.

[deisik]

Yes - it's the end of the Dragon Era.

China has made a serious mistake. Bitcoin was one of the few technologies where they had an input and an effect - eg inventing ASICs and dominating mining

There is still no certainty

We don't even know what they are really up to. The papers which we have seen so far might very well be deliberate fakes aimed at bringing the price down. Tomorrow or in a week, the PBoC might come out with a statement that they fully embrace as well as support Bitcoin, and that their intentions have been severely misunderstood and misinterpreted by the public. Would you be surprised then? But this is what we could well expect from China, i.e. turning 180 degrees, and then turning again in less than no time

[eaLiTy]

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?

You really cannot be that sure to analyze this recent regulation of bitcoin exchanges be the end of the dragon era since it could be a good thing in the future as we wont see any inflated volumes in the future and that the whales wont manipulate the volumes,this regulation news might have hit the market but it wont in the long term,but i am happy to see the announcement of GMO as we need more competitors to the ASIC manufacturing monopoly of bitmain.

[voztata]

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?

Even without China, bitcoin can always survive and that’s what the world has proven. Most people thought it was over, with some of them making the worst statements. I even thought price will fall to below $2k, but surprisingly…it’s back

[jc89]

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.

I can't help but to agree with you on this one. That's exactly the thing, there's no dragon era or whatsoever. Yes, China have given impact in the btc community but I don't think it's enormous enough to be called an era. China isn't and can't be considered as an institution in the community and it's time for other countties to step up and take over China's spot.

[slowlii]

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?

If you mean assian people by saying dragon, the answer is a YES. They won't participate to this ecosystem anymore as they're fearing from their governments.

[filharvey]

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?

Surprisingly,it seems to be true as we could see nowadays,no news coming related to bitcoin in china.Otherwise,there would have been lots of news discussing about china's move regarding bitcoin.

It seems that FUD spreaders who used the topic china to create panic in the market which they found to be logically working now have gone in search of other topics so that FUD could be spread once again.

Some times,it seems that we have over reacted to china's decisions regarding china's policy over bitcoin.Any way,chin is now out of the path of bitcoin's progress.

[tweetbit]

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?

Well now they’re trying to comeback as the rally of bitcoin increases might trigger they’re money hunger. It can be called “the dragon era died and live again but in a chicken body”. This is the best thing they do and the only choice they have to be back on circulation in the bitcoin community.

[iamTom123]

Yes - it's the end of the Dragon Era.

China has made a serious mistake. Bitcoin was one of the few technologies where they had an input and an effect - eg inventing ASICs and dominating mining. That baton will pass to Japan. Ever since japan legalized bitcoin earlier this year, we've had mining developments and exchanges opened and whatnot. By the end of next year they will have dominated mining and China will be languishing behind their firewall wondering where it all went wrong.

I belong to the many who believe that we don't need the big presence of China in the Bitcoin community. I know that China is representing one of the biggest markets there is but it is the big source of so many headaches and bad news which affected the value of Bitcoin for the past many months. Just look at how Bitcoin is urging right now...without the influence of the China market (though of course Chinese money still find ways into it).

Soon there is a big possibility that China can be back on the table but this time around they should be behaving well otherwise they should be kicked without thinking twice. On another hand, I also think that the market has already matured and could not be easily swayed by FUDs anymore. It should be clear by now that Bitcoin does not need China but it can be the other way around.

China feared Bitcoin like a hot potato but there are some rumors that it is already thinking of reentering the cryptocurrency market (aside from introducing its own version of a crypto).

[jcojci]

if china is leaving bitcoin then we can still using bitcoin although the support of bitcoin is depend from the other country. i think bitcoin will be fine even if china is finally not giving the biggest support like before. but i don't think that china will let this opportunity goes because china will using this chance to make biggest profit from bitcoin.

[Falgorn]

The government of China has not yet announced the figures how the ban on holding the ICO and restricting the trade in the crypto currency on the Chinese exchanges, on the economy of this country, was affected. I
  I think that they have not achieved much success with their limitations and prohibitions. But they certainly lost their profits from the activity with the crypto currency. In any case, China is no longer the leader in bitcoin mining and the volume of transactions conducted in the crypto currency. The Chinese have moved to trade in the crypto currency in neighboring countries - Hong Kong, South Korea, Japan. Miners began to search around the world for the production of bitcoins in other countries and stopped, in particular, in Canada and Russia. In this regard, China is no longer a leader in the crypto currency and in this sense it can be said that the era of their dragons has ended.
    Bitkoyn after these prohibitions and restrictions, from the end of September, on the contrary began to grow strongly in price, having increased in a short time to $ 20,000, and this proved that even the largest countries, such as China, can not affect it. It is a decentralized digital currency and is not tied to any state.

[Chopmoney]

Typical analysis would make it seem that China is weaning its economy off cryptocurrencies. But appearances are not always as they seem. China still exerts a significant influence on cryptocurrency prices. So the Dragon Era has not ended.

[Xester]

Soon China will be surpassed by Japan and other European countries. With the banning of cryptocurrency at China some miners have already stopped mining. Others have transferred mining locations and are now mining on other countries and others have mined in secret. If China will still not release this ban then soon mining in China will deteriorate until it will die out.

[shaikhimoqc]

Despite China's ban on ico, the transaction of digital cryptocurrency currency continues!

And there are more and more investors in China's digital cryptographic currency!

Maybe at some point China will open up its digital encryption policy!

[xhoondilan]

I think China is not fully banned Bitcoin, because Bitocean is from china and the founder is chinese and written to their goals is to make china use Bitcoin that is strictly following the law. So maybe  they don't want the people to freely use Bitcoin because they're country is very strict in military and laws. The Bitocean is a company that's makes Bitcoin 2 way ATM that you can buy and sell Bitcoin anytime anywhere in they're ATM.

[befriendmywater]

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 think your prediction was wrong. Bitcoin has been pumped up to $ 9k2 at the present time.
I think you should not be too pessimistic about the future of bitcoin. Because there are so many billionaires, financial economists have confirmed that bitcoin will be the most valuable currency in the world in 2022. Bitcoin has really helped a lot of businesses. So bitcoin deserves to be the world's great coin.

[Kakmakr]

Besides all that happened, Bitcoin mining is still going strong in China. It has been 7 months since this announcement has been made and we still right where we were back then. They even promised to produce and sell PC-ready ASIC mining cards to consumers. 

Meanwhile Bitmain is still going strong. https://twitter.com/bitmaintech/status/981169456411021312?lang=en So, Do you still think anyone can catch up to them?