effect of china on bitcoin

[Zalfa_mui]

Since the majority of the Bitcoin (and crypto) market is Chinese, I'd imagine that a ban of Bitcoin in China would cause a huge drop in its value.  The panic caused by the huge dump would drive the price down even further as investors from other countries jump out.  I think the smart people will be buying at that time.

yes you are right, when bitcoin price goes down because china it is time we buy,
may be good news from china,we can buy bitcoin at the lowest price.

[EUROPEANTURK]

China affects bitcoin yes because they got wrong decision for bitcoin but bitcoin mean is not only china and they will understand it also time will show it us near time.

[Easteregg69]

Fake news ?

Just thinking loud!

Tenacious D - Roadie (Explicit)
https://www.youtube.com/watch?v=3b1acvZRvV4

For your eyes only. (My BTC is at 4000 USD.) Seriously. Nobody died!

Me and Cage are hungry!

[Easteregg69]

Fake news ?

Just thinking loud!

Tenacious D - Roadie (Explicit)
https://www.youtube.com/watch?v=3b1acvZRvV4

For your eyes only. (My BTC is at 4000 USD.) Seriously. Nobody died!

Me and Cage are hungry!

Time to get angry instead of quoting! (China could blow up the world with a little help from North Korea and good old USA..(Forgot. and Russia.. Former USSR)

[cryptocortex]

Going after miners is the worst attack Chinese government can do against Bitcoin. If Bitcoin survives this, it can survive anything.

[Easteregg69]

Going after miners is the worst attack Chinese government can do against Bitcoin. If Bitcoin survives this, it can survive anything.

China hates everything. And that is a fact.. Easy start.

Pick your form.
Tenacious D - Tribute
https://www.youtube.com/watch?v=_lK4cX5xGiQ&list=PLDC3KoMsRyPzQNHhvLunEOxbc8RlDrhwV

T-DICK!. (No where to hide no where to run..)

[michellee]

people know china have the largest mining company and once they give bad news, many people get panic and they prepare for the worst thing that might be happen. this is happen in few days ago and the price is drop too far but fortunately the price goes up and now trying to reach new price level. I wonder what will happen that I heard the news about china wants closing all exchanges. but I am sure that the other exchanges will survive and we will be pass this conditions.

[grermezter]

Lets say China created a China Coin, or the U.S. created a USA coin, what happens if their economies collapse and it's value next to nothing? Bitcoin can still reign supreme.

What you are saying is very much like each country creating their own cryptocurrency and the strength or weakness of the currency will be based solely on the said country's economy, i think is akin to the fiat every country uses and since it will be by the government i don't think lots of people are going use it the same way they do bitcoins and i bet you, it will not be decentralized.

[LindaQ]

how badly could banning of bitcoins in china affect the bitcoin market and cryptocurrency?

Well you have seen it on the last dump of bitcoin. Its because thr government of china are banning the ICo and stop all cryptocurrency exchange that impact to massive sell on that big country. The massive sell caused the bitcoin price to fall down from around $4.8k to around $3k. Its become a prove tht china have a big influence to bitcoin price. But I hope after they banned it, the crypto currency especially bitcoin are free from china influence.

[South Park]

Lets say China created a China Coin, or the U.S. created a USA coin, what happens if their economies collapse and it's value next to nothing? Bitcoin can still reign supreme.

If they resorted to measures like that then I’m pretty sure their economies will be at the border of collapsing, for the average people a coin like that will be foreign so it is obvious they are going to try to get people that are already invested in crypto like us, but who in their right mind will use such a coin?
No one I suppose.

If every country issued a digital coin I also believe the coins will not grow, because the scope is not too big
Because the scope is not large so people will be reluctant to invest and they think everything is not profitable

Also can you imagine the amount of regulations and surveillance that those coins will have, the amount of back doors in the code that will allow them to do anything they want to anyone, if governments can already freeze your funds with ease can you imagine what can they do if they created their own crypto.

[basobulat]

yes, it has passed. and now china is out of touch with bitcoin. I think it does not matter, bitcoin can survive even though china is not involved. I'm sure bitcoin will increase over time.

[Zarbout]

This news caused panic in the market and most of Chinese are dumping their coin. I think after this chaos, pass Bitoin will rise slowly until replacing Chinese market.

[Gontxi]

how badly could banning of bitcoins in china affect the bitcoin market and cryptocurrency?

for me it is not important anymore. china is part of the past bitcoin.
bitcoin is now without the involvement of china. yes this is the way they take. full of intrigue and the plays behind it all.

the most important for me bitcoin itself. bitcoin has persisted and climbed back even though this increase is not too great. but this shows that bitcoin is able to move upward even though china is not involved in it.

[ValVikram]

I think Chine cant change nothing already. Bitcoins is strong without China

[orions.belt19]

Lets say China created a China Coin, or the U.S. created a USA coin, what happens if their economies collapse and it's value next to nothing? Bitcoin can still reign supreme.

If they resorted to measures like that then I’m pretty sure their economies will be at the border of collapsing, for the average people a coin like that will be foreign so it is obvious they are going to try to get people that are already invested in crypto like us, but who in their right mind will use such a coin?
No one I suppose.

If every country issued a digital coin I also believe the coins will not grow, because the scope is not too big
Because the scope is not large so people will be reluctant to invest and they think everything is not profitable

Issuing an individual digital coin would give the country their own digital currency and perhaps its value would depend on its own economy, just as how its local fiat currency works. It may provide some convenience for its citizens but in the long run, it would be similar to the fiat currency but only digital. It would be also hard to be used by the low class people of their country given its digital characteristics.

Amongst the other cryptocurrencies, Bitcoin has remained to be strong and I think it would do the same as compared to a newly created coin of a country.

[blocklancer8]

Once a while ago things that happen in this country make bitcoin prices to go down every day. This is what makes investors worry so they sell a lot of the bitcoin they have.

[South Park]

Going after miners is the worst attack Chinese government can do against Bitcoin. If Bitcoin survives this, it can survive anything.

Not really, if China went against miners then bitcoin is going to suffer in the short term, but this will give the devs the chance to change the hash algorithm to something more difficult to create those asic miners and then we will have distributed mining once again for some time.

[senne]

The ban on ICO gave a dip in the graph of Bitcoin but it was temporary and it clearly depicts that weather it the super-hub of Bitcoin nothing can stop it from rising again. Also, in the hard time Japan was very supportive to Bitcoin which helped it to stand again.  Moreover, the ban was temporary because in the recent news it was discovered that ICO will be back in power with proper rules and regulations because at the end China also knows the potential and value of Bitcoin and can't afford to lose that.

[BunnyShibe]

The ban on ICO gave a dip in the graph of Bitcoin but it was temporary and it clearly depicts that weather it the super-hub of Bitcoin nothing can stop it from rising again. Also, in the hard time Japan was very supportive to Bitcoin which helped it to stand again.  Moreover, the ban was temporary because in the recent news it was discovered that ICO will be back in power with proper rules and regulations because at the end China also knows the potential and value of Bitcoin and can't afford to lose that.

that is right to say that in very beginning the banning news of ICOs by China turn the bitcoin price down, but after some time the market recover its position in a very good way, in fact now the bitcoin users are increasing throughout the world who are giving more support to bitcoin and therefore even the China decision about banning ICOs could not effect the bitcoin so much. i am sure that very soon bitcoin will cross its previous position and will reach to 5000$ once again.

[susila_bai]

The ban on ICO gave a dip in the graph of Bitcoin but it was temporary and it clearly depicts that weather it the super-hub of Bitcoin nothing can stop it from rising again. Also, in the hard time Japan was very supportive to Bitcoin which helped it to stand again.  Moreover, the ban was temporary because in the recent news it was discovered that ICO will be back in power with proper rules and regulations because at the end China also knows the potential and value of Bitcoin and can't afford to lose that.

that is right to say that in very beginning the banning news of ICOs by China turn the bitcoin price down, but after some time the market recover its position in a very good way, in fact now the bitcoin users are increasing throughout the world who are giving more support to bitcoin and therefore even the China decision about banning ICOs could not effect the bitcoin so much. i am sure that very soon bitcoin will cross its previous position and will reach to 5000$ once again.

Ya it is true that china have banned ICO but i think they will clear this ban and make some rules and regulations that have to be followed by the ICO developers if they want the china to invest in their projects. Which is good as due to this we can slow down the scam ICO.