Is the future of bitcoin dependent on India and China?

[J Gambler]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

They factor into the stability of bitcoin, but I fail to grasp the imagination that it revolves around them on how bitcoin would be for the few years. Grabted they are a major player here in the world, which means that they have a voice in how the economy of the world functions, but they might make a big dent or impact but if the majority of the world agrees or sides with bitcoin then these two no matter their decision will not matter and in a grander scope of things would be agreeing with the rest once this is done

[Xester]

I don't think China and India could affect the future of bitcoin. Because even these two countries did not support or accept bitcoin but still bitcoin will grow and survive. It may affect the market of cryptocurrencies but it can't stop the bitcoin. Bitcoin will stay strong and will survive with or without these two countries.

I totally agree with you.  Maybe people were threatened if they heard that these two countries were not supporting or banned bitcoin.  Others were afraid because they thought that many of the residents there were using bitcoin because they have the largest population.  If indeed they are really into bitcoin, why bitcoin price continue to goes up?  It just mean that we do not actually need them.

[Englebabylove]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

I don't think so. Bitcoin is circulating around the world, and it's not going to die because of bad news from China and India. I think Japan has a bigger impact on bitcoin than China or India.

[cherrymobile]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

For me not really. Althoughbthey have been a huge asset towards bitcoin's success, we cannot lie that as of now bitcoin had reached a value one can say that China and India won't due any huge or at the very least cinsiderable damage tp bitcoin's price. Just like now, we can see and observe that bitcoin is recovering quickly and steadily from its losses. Which brought me to think that although these 2 countries have been a huge paticipant towards bitcoin success, bitcoin had already achieved point where losing a great asset won't damage the investment considerably.

[anitayui]

No I think bitcoin not just will depend on India and China. It's true that's two country will affect the bitcoin value because they are big investor into bitcoin. Bitcoin does not depend on any country  because it is decentralized, so if those country banning bitcoin there will be another country that support bitcoin.

[loraalbert]

I think the statement of the Indian government will have a certain impact on the value and development trend of cryptocurrency. However, I think that, like the ban from China, is still a significant accident, but cryptocurrency will continue to evolve and evolve in the future. Prices may fall in the near future and will recover.

[bitcoinfuck]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

india is with BTC, backing it up don't worry about our government, they are not against BTC, we as country has so much to worry, more important things then bitcoin.

Many of indians are now running blockchain comapnys

[Sithara007]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

india is with BTC, backing it up don't worry about our government, they are not against BTC, we as country has so much to worry, more important things then bitcoin.

Many of indians are now running blockchain comapnys

I am residing in India and I have to disagree with you. The Indian government is treating all the crypto-users like petty criminals. They have introduced all sorts of legislation to harass the normal users, and they on top of that they want a significant chunk of our earnings as taxes.

[Dmitry.Vastov]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

Being the resident of India, I am very much aware of situation of BTC in my country. The finance minister of India has clearly declared that government of India has no control over BTC and they are not responsible for any kind of losses regarding BTC but still owning BTC by ur own is not yet illegal in India, one can own it at his own risk, I guess BTC should be positively advertised in India so that more and more people can understand the potential of BTC and obviously the BTC will be  much affected without India and China.

[reck1ess]

Bitcoin is not dependent to any country or region. If it's dependent, then why do we called it "DECENTRALIZED"? Of course, it's not dependent to any person, country, etc. That's the purpose of bitcoin and the blockchain technology no one owns it, but everybody owns it.

[ekaterinastrelnikova505]

China is the main importer and exporter of goods and services. Digital yuan will help China to internationalize its currency and use it as a substitute for the US dollar, "experts write.

[cunguks]

I don't think so. The dependency of bitcoin doesn't come from the exact or specific country. It spreads around the world. They may affect affect bitcoin because some investor bitcoin are there. But it doesn't affect that much for bitcoin. And for China, it's an old story, dude.

[zedrickjuls]

The future of bitcoin does not depend in any country like India or China besides there are lot of countries that supported bitcoin.Maybe the price of bitcoin may affect but the popularity of bitcoin is still there.

[JillClarissa]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

I don't think so. Now China and Japan are less important to bitcoin than Japan. Now, the impact of Japan's bitcoin reading is far greater than that of Japan and India. Japan has more investors.

[FireShark89]

Any type of bad news can be momentarily harmful for Bitcoin, but in the long run, Bitcoin will still continue to grow since it does not depend on a country's acceptance.

[nicko122]

Recent  utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and   
government decisions from these  countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially  bitcoin without these countries.

As a result, nothing concrete has happened, the price is being restored though slowly. But they showed that they can affect the price, which is not very good of course. I think any country that plays a big role in the financial market can affect the prices of cryptocurrencies, and currencies in general.

[sashulya7979]

The history of bitcoin from Japan began and became dependent on countries such as China, but India does not think it will manage currency and assets.

[qiman]

The whole point of the Bitcoin revolution was to have a decentralized and border less currency and technology that surpasses border control and government restrictions. Of course, now it has grown huge and many investors are involved, governments are stepping in to regulate it. China can tighten controls over Bitcoin because China will only support blockchain projects that benefit it as a country. India has declared that Bitcoin is high risk but I doubt it has the human capacity to ban it because of it's political and economic make up. I think without much input form these countries, it may lag behind a little in price, but as other countries develop the technology and move forward, the price will eventually go back up again. I am optimistic with this view point.

[Jingjess]

I think these two countries cannot affect the future of bitcoin because there are still many countries that are supporting and using bitcoin and i guess that no countries can control the future of bitcoin.

[Polipog]

It something having bad effects if one or two countries don't accept cryptocurrency business, but the total bad impact does not form a huge damage on the operation, however it would also affects the total trust of community people that forms a few doubts and fear. But positively thinking, we don't need to worry all about issues, that there are some countries don't like bitcoin business, as long as our country freely open the operations, all we need to do are strongly support bitcoin business, because bitcoin having a good returns to all of us, as a bitcoin enthusiasts.