China can destroy bitcoin

[Freezkidd1]

not at all china could destroy bitcoin but could play main role in causing much damage to it
 

[gadimbrut]

in my opinion it is impossible to conceal bitcoin miners, because there are no rules about mining, which can stop the Chinese government because the most bitcoin miners are in China, at least mining is limited

[bitcoinVPSD]

Bitcoin is not only concentrated in China but it is distributed in many different countries by investors. I do not think China can destroy it if they just ban it. Bitcoin can not be destroyed by any country.

[gabmen]

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.

Yeah, and it's not as if china hasn't tried before. Bans here and there, statements against btc and crypto, etc. Well they did initially had an effect to pull the value down but we all know btc bounced back and made the 2017 run amidst china's anti crypto antics. Crypto would do well with it, but it doesn't need china.

[abanansah]

China development in bitcoins and blockchain technology is so huge that any major decision taken by government affects the market. I think the solution is another country developing a strong appetite for bitcoins usage to compete with China.

[elliuut]

There are no restrictions or protocols to prevent any of this from happening so yes they can definitely crash it if they want to.

[Ngajim]

China is very influencing country. I don't think China cn destroy bitcoin because in my opinion bitcoin can not destroy by any country. And most of the bitcoin mining is in China because there so many market.

[musharaf]

China is the only one country which can not affect bitcoin much because mining is not only there and now less bitcoin are remaining which will create in the coming years and many other countries where the electricity cost is minimum and people mine bitcoin there as  well so if we just give edge to China it will be not a true picture, And no one can destroy bitcoin ever.

[stiffbud]

China is the first county which take action against bitcoin and for its trading. China can not ban bitcoin outside of their country but it can influence the other country to ban it in their country. Chinese government ban it because the popularity and uses creat an treat for their country economy. According to Chinese government bitcoin affect negatively their country national currency value at international market and another thing is its also affects their banks profit and these are some reason behind this topic.

[kifumi]

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  ?

this is good discuss “As the value and economic utility of Bitcoin have grown, so has the incentive to attack it,” the researchers explain. “We singled out China for analysis because they are the most powerful potential adversary to Bitcoin, and we found that they have a variety of salient motives for attacking the system and a number of mature capabilities, both regulatory and technical, to carry out those attacks.”

China may be motivated to weaken or destroy it to make an ideological statement; for example, demonstrating the futility of decentralized control paradigms,” the paper reads. this goal as long as it is highly visible.

[hulla]

Firstly, i want the OP to know that we cant rely on everything said by cryptocurrencies enthusiastic because there are always the possibility of fake/wrong/FUD statements.
Nevertheless, the Chinese does dominates the mining sector and they controlled the highest part of the ASIC vendor with mining hashrate but they cant affect bitcoin protocol because they have tried it in the past which they didnt succeeded. Besides, I dont believe they control the mining sector anymore since the year 2016.

[Jordens]

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  ?

In the Us, they began to open regulated official bitcoin exchanges, and this is a serious event. Economy room 1 has accepted bitcoin, then allow everyone else who was banned before, doubt it.

[imstillthebest]

China is the first county which take action against bitcoin and for its trading. China can not ban bitcoin outside of their country but it can influence the other country to ban it in their country. Chinese government ban it because the popularity and uses creat an treat for their country economy. According to Chinese government bitcoin affect negatively their country national currency value at international market and another thing is its also affects their banks profit and these are some reason behind this topic.

China can not ban bitcoin outside of their country

even if it is inside of their own country , china cant ban bitcoin because bitcoin is online which means it can still be accesible whenever a user uses a special tool such as proxies , vpn's and other tunneling software . a country can only ban centralized stores or exchange that are related to cryptos .

but it can influence the other country to ban it in their country.

influence ? no i dont really think so .  other country have thier own reasons on why they restrict the use of cryptos but its not because of china banning cryptos .

Chinese government ban it because the popularity and uses creat an treat for their country economy.

popularity cant harm people and i dont think it is a threat for the economy of a certain country .

overall , i heard that china is also banning ico's and some exchange but they arent banning all of the cryptos .

[LDenis555]

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  ?

You are every day losing money, and hope for the catastrophe that will correct Your position. I'm pretty bitcoin, as a convenient medium of online payments, because I don't buy the hype around him and a sober assessment of its prospects.

[Capt00]

Firstly, i want the OP to know that we cant rely on everything said by cryptocurrencies enthusiastic because there are always the possibility of fake/wrong/FUD statements.
Nevertheless, the Chinese does dominates the mining sector and they controlled the highest part of the ASIC vendor with mining hashrate but they cant affect bitcoin protocol because they have tried it in the past which they didnt succeeded. Besides, I dont believe they control the mining sector anymore since the year 2016.

That's right, a good thing to know if there is further evidence compared to that relying on fake statements. Chinese government really hate on crypto, they are the first country who banning cryptocurrencies and I think they do that because of being afraid of what will have a bad effect to their country or might bitcoin (crypto) use against them. And also they think that it is the big competent to the bank soon IMO.

[- ESPERS -]

     That's what I think. Over time, China can destroy it if it continues to cause repeated damage. China has a huge influence on the crypto world. It can propel it at good prices, or it can destroy it, but not overnight. Let's hope this will not happen in the coming years.

[jaymmagne]

The China can surely affects the Bitcoin today , since they have a lot of potential to make the price unstable. But surely it will not make the bitcoin be destroyed. Bitcoin has a lot of foundation which makes it pretty strong.

[Nitori_m]

China move can definitely impact on BTC prices however it can't destroy it. This is believe is one benefit for decentralized wealth and economy

[Thyristor]

China have destroy bitcoin and make all of mining bitcoin project at their country have closed, many ICO investment was die by China have banned of regulation for ico investment at their country, China have more power fo destroy how bitcoin price.

China is the most powerful country for crypto currency market that's obviously truth. But china not enough powerful to kill Bitcoin. China can just FUD Bitcoin to banned it and regulation in ICO investment.

[KaynHayasi]

i think just make some affect. i think they don't destroy this coin