China can destroy bitcoin

[Soots]

we know that the circulation of bitcoin is big in China, and we know that the bitcoin mine farm is biggest in the farm but i believe that china is not enough for destroy bitcoin around the world

Yes.China may be a big and strong country but i believe it cannot totally break the foundation of bitcoin.A lot of countries are already into bitcoin even without China on it.China may cause some damages on the part of bitcoin but it cannot ruin bitcoin in the long run.

Exactly! I believe that bitcoin can still strongly survive even without China, since it's success is not dependent in one country alone. China can have a big contribution in the success of Bitcoin, it can be one of the richest country in the world but I don't think it can eradicate bitcoin. Bitcoin has already been widely-known and adopted not only in China and it's network has been proven safe and secured.

[londawzen]

China might try to do that. But they can't destroy it. Even if they dominate, they can't stop him. Because in addition to many of them the holder of the other countries

[ahmad21]

China has got to impact the crypto currency market because of its strong crypto holding in the market. China can affect the prices of the bitcoin seriously but cannot completely eliminate Bitcoin or detsroy its rapport. CHina has become a threat to the crypto market, especially the bitcoin according to the latest reports. The ban imposed on the bitcoin by the People's Republic in China had worsened the situation for the crypto trading in the country.

Go through this report by : Researchers from Princeton and Miami International University: "The looming threat of CHINA" :
https://bravenewcoin.com/insights/china-is-a-threat-to-the-bitcoin-network-says-new-report

[talkbitcoin]

China is more like a psychological power the people created for themselves rather than them being actually powerful and having any real major influence in the future of bitcoin. and most of it i believe is because of the drama with bitcoin scaling and the fact that miners weren't accepting the proposals for a long time. so people started demonizing them and focus only on one company in China (bitmain).

[hitrawal91]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

The solution to stop that potency is to develop our own potency and only than we can stop china doing so.China threatens every time only because other countries don't have such power,facility and technologies.US has already started imposing tarrifs on china's mining hardware products.These products fall under U.S strict tarrif regime.Now this kind of step will make china's hold in global market weak and encourage people to built there own.

[Agatha-Akina]

I think China can do, but They won't do. If they do, they kill themselves. BTC brings them a huge amount of value, why they destroy it? There are no reasonable for them to do

[mahibul49]

i think china cant destroy bitcoin bcz bitcoin is world wide popular and widely accepted crypto currency.
and another thing is bitcoin decentralized crypto so china cant control bitcoin.

[georgiasus]

Seriously? Does China have an effect on bitcoin? As far as I know, cryptocurrency is prohibited there and Japan is currently having a major influence on Bitcoin.

[lyntruongakad09]

I do not think so. China can not destroy the bitcoin because it is a potential currency in the future. Maybe it will become the official currency of the world.

[hermankoles]

Bitcoin is decentralized although its own use is still centralized in many large countries such as China, Japan, US and Russia. There needs to be even distribution in many countries to reduce full control of the value of bitcoin

[clonely]

China has a huge potential in the mining pool. In the event of a possible ban, the hash power is greatly reduced.

[Eraldo Coil]

In my opinion i don't think so china is just a  part of the bitcoin world they are not the one who is running the system they are just  part of it. Let's just say they quit then i think it is ok because there are still users all over the world who can continue the system.

[Gontxi]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

I don't understand this discussion, is it a guide that you can give me?
I think what you are discussing is a bit absurd, because of the many posts here only your posts are discussing this. please give me the link

[reality18]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

The total control of Bitcoin does not lie in the care of China. Although China holds the largest Bitcoin mining industries it cannot totally destroy Bitcoin. It will cause Bitcoin to fall in value but not destroyed totally. Remember, most of the Bitcoin mining in China moved out of China when the government of China banned Bitcoin.

[0t3p0t]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

China can destroy Bitcoin if only if they have all the Bitcoins like 15 million coins. It will literally destroy because they can control everything most especially the market. But for me it is impossible for them to have it all because I think it was all scattered through out the world by investors, miners, enthusiasts and traders. Though China has a lot of investors which makes the market affected when there is a kind of manipulation. But now not anymore as for me chinese investors might sold all their funds to exchanges or friends outside China.

[aprian24]

it is impossible for China to kill bitcoin ... only China is very influential in bitcoin and prices can drop dramatically if China wants to

[pieppiep]

if you look at the development of technology, bitcoin will be very difficult to destroy by the Chinese state because they provide prices and very many use bitcoin as a payment tool there so I am sure the price of bitcoin will be very difficult to destroy.

[londawzen]

Nothing China will destroy bitcoin. At home, they can ban it. But most of the people who hold bitcoin are scattered around the world

[gamechangers]

I don't think that it is impossible for  China because they have a very large market share. Their miners mine the largest portion of the bitcoin. Everyone keeps talking about this and I have read it so many times. Can anything be done to reduce this dominance?

[iTradeBit]

It's hard to say. China is very influencing country.