Many great things are banned, censored or restricted in China. If China wants to

[kiki8899]

Just to name a few:

Google

Youtube

Facebook

Wikipedia

Reddit

Netflix

Instagram

Whatsapp

Skype

Quora

Winnie the Pooh

Alice in Wonderland

Even though these things are banned in China, they are thriving in the rest of the world.

If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised, power-obsessed regime. China can play with its digital yuan.

[Joshua01]

Yes the "exodus" of the chinese miners is probably a good thing for BTC but I am quite certain that China never planed to destroy BTC with this move. They "just" want to controll their people even more with a cryptocurrency which has a fixed price which is regulated and monitored by their government.
This is just an asumption but it is quite likely that the chinese government (at least the people in the government themselves) have a big amount of BTC for themself (the chinese government usually gets a big part of every company in their country -> look into Alibaba for an example)
China will probably just use these coins to earn money from the rest of the world without being really involved in it.

[dota2bestplayer]

Well that explains why the Chinese are still sane while the rest of the planet has gone mad.

[GreatArkansas]

(...)
If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised, power-obsessed regime. China can play with its digital yuan.

We all know that China is one of the biggest top countries that got very lot of miners and they are very important too in Bitcoin network as a lot of miners are from China, an example is the FUD recently about banning Bitcoin transactions, minings there, it is one of the proof that China is a big player in Bitcoin now.
For me, this is not totally negative for Bitcoin, this will be also great to neighboring countries of China that will start Bitcoin mining too, Bitcoin  mining will start to spread outside China and possible that Bitcoin mining will grow and spread on different countries or places.

[Sithara007]

It is not that simple. Chinese manufacturers account for 95% or more of the mining equipment supply. China will have a monopoly in the mining sector as long as this situation continues. Importing mining equipment from China to some other country is hugely expensive. And this is the reason why the mining farms in other countries are just in break-even financial situation, while those in China are very profitable. I have mentioned about this several times in the past. It is one of those issues which doesn't have an immediate resolution.

[tranthidung]

If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised, power-obsessed regime. China can play with its digital yuan.

China government to many things to protect their regime, not their people or the world, see FUD from China as simple as that, you will see your journey with Bitcoin and China FUD more easily.

If you look at lowest price of Bitcoin, on yearly basis, you will see Bitcoin is always moving up, almost all years (one year, 2015, has negative change compares to 2014). Stay positive as FUD will disappear after all.

Please notice the lowest price in 2020, we are many times higher than that min price, still in yearly uptrend.  

Raw results:

Code:

     +---------------------------------+
     | year     min_l   percent_change |
     |---------------------------------|
  1. | 2013     65.53                . |
  2. | 2014     289.3           341.48 |
  3. | 2015    171.51           -40.72 |
  4. | 2016    354.91           106.93 |
  5. | 2017    755.76           112.94 |
     |---------------------------------|
  6. | 2018    3191.3           322.26 |
  7. | 2019   3391.02             6.26 |
  8. | 2020   4106.98            21.11 |
     +---------------------------------+

[ranochigo]

There is no reason for anyone other than China to ban those that you've mentioned. Think about it, why would any other country want to ban Google? Not everyone has a motive like China to ban western products.

Conversely, US banned Huawei and influenced loads of its allies to choose alternative solutions for their 5G networks. Last I checked, Huawei isn't doing so well. Admittedly, not an apples to apples comparison but that is what strict regulations on Bitcoin can do.

Bitcoin mining is often seen to be damaging to the environment and having them in certain regions can be damaging to the local climate and/or exacerbate any energy shortage. Tons of reasons to try to ban anything that helps Bitcoin, most governments aren't exactly a fan of Bitcoin. What China did was to set a dangerous precedent; mining is huge in China and they're happy to let go of that share. Sure, it'll thrive, that is how it is designed but the adoption will still be crippled to a certain extent.

[Tessnik]

If you read history you discover China has always been a conservative country and has always been very strict on goods and services that do not originate from China. So china's clampdown on bitcoin activities is not a new thing but I know miners and the rest of the bitcoin users in China will move to other friendly nations.

[Lorence.xD]

Well that explains why the Chinese are still sane while the rest of the planet has gone mad.

If you mean by sane being chained and always under surveillance by the government and no degree of freedom whatsoever then call me mad because no person is going to live in that situation without being brainwashed by propaganda. Also, some of their bans are just overreactions and they don't want to look like a clown on world stage so they do this.

[avikz]

If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised centralised, power-obsessed regime. China can play with its digital yuan.

That's what I have been saying since China banned bitcoin mining. It's a net positive! China's dominance over bitcoin mining must end for the greater good of the bitcoin mining community. Whatever impact you are seeing, is temporary and not going to hurt us for a long time. But at least it will be free from an authoritarian regime which goes a long way cleaning up ticks from the network. China has their own version of almost everything and they should be happy with centralized digital yuan.

[crwth]

I believe their mindset is at "if they can do it, we can too," so instead of utilizing another service like Google or any other social media platform out there, they would create their own and focus on that if they are not that open towards having that type of collaboration with neighboring countries or even those helpful to them in economics.

They are a force to be reckoned with. That's why I believe they can do those things without anybody's help.

[cotton ball]

that's the performance of the chinese government, if they can't control what they want, the chinese government will definitely do anything to ban it, but if it can be controlled by the government they will definitely be very supportive, i think their people are definitely not stupid and will keep mining bitcoin, and will continue to invest in bitcoin..because the more banned the more challenging..

[zanezane]

that's the performance of the chinese government, if they can't control what they want, the chinese government will definitely do anything to ban it, but if it can be controlled by the government they will definitely be very supportive, i think their people are definitely not stupid and will keep mining bitcoin, and will continue to invest in bitcoin..because the more banned the more challenging..

It's very rare to find something in China that the government can't control, bitcoin looked unstoppable but look what happened, they did a big crackdown on mining and transactions. Also, I find that the reason that they are oversensitive with banning is because they are still spreading propaganda on their population.

[Sterbens]

.
For me, this is not totally negative for Bitcoin, this will be also great to neighboring countries of China that will start Bitcoin mining too, Bitcoin  mining will start to spread outside China and possible that Bitcoin mining will grow and spread on different countries or places.

as we have seen today, the impact is already happening. but we see now prices have started to recover and china is finally no longer our reason to stop complaining. since FUD has been haunting Bitcoin and altcoin prices, many have felt that this is the end of Bitcoin. though it's only temporary. with that I agree with you other countries have been given fresh space and can adopt Bitcoin mining. We need to forget about China and let it be with all its selfishness. what we need to do is support all the countries that really want to adopt Bitcoin.

[lablab03]

Everything is made in china so it's not surprising even your phone probably? Lol  just joking bro..
  Actually when it comes to China this isn't new, and this alway happened . And as the of fact every year there's always a bad news from them especially with crypto currency.. So this isn't surprising anymore and accept the fact that everything that made in china didn't long last. so just chill..  

[Alanaz]

if you look at it from here, actually in a rough view I think they don't want to be controlled by non-externalists in the sense that they prefer to promote the economy and their own brand compared to brands from outside. and here too in the case of bitcoin I think it's almost the same because they don't want their digital currency competition to be rivaled by bitcoin, because their thinking is actually one step ahead so I'm very confused about the steps that China is taking at this time.
but apart from that they are actually quite brave in doing this kind of action where other countries are ready to adopt bitcoin but they clearly forbid it

[Shenzou]

We all know that if china wanted to ban mining bitcoin it would have done it a long time before, the news it self of china cracking down on bitcoin has more impact on the price than shutting down miners themselves, and that just proves how much power they have over it and how much bitcoin is not decentralized, so if china actually takes some serious actions against its miners and shuts them down which it can't at least not entirely, than the mining power will shit elsewhere in the world and will help bitcoin be more decentralized.

[Argoo]

If China wants to crackdown Bitcoin mining activities, miners will go elsewhere. This is actually a good thing for cryptocurrencies, as it shouldn’t be under a decentralised centralised, power-obsessed regime. China can play with its digital yuan.

That's what I have been saying since China banned bitcoin mining. It's a net positive! China's dominance over bitcoin mining must end for the greater good of the bitcoin mining community. Whatever impact you are seeing, is temporary and not going to hurt us for a long time. But at least it will be free from an authoritarian regime which goes a long way cleaning up ticks from the network. China has their own version of almost everything and they should be happy with centralized digital yuan.

I also wanted to say exactly this. It is necessary to solve this problem once and for all. Miners must leave China or simply stop mining cryptocurrency there. Then there will be no constant feeding of this bad news. There are a lot of good, even the best, places on our planet for mining bitcoins and crypto-friendly governments. Otherwise, it all came together right on this China. Half-time measures lead to a constant source of negativity from China. Finally, remove the miners from your territory. We can do without China.

[Darker45]

Freedom is an alien world in China. The same is true for human rights. The Chinese Communist Party(CCP) owns the country and everything there is on it including human lives. But it is a totally different world outside the totalitarian state. So if Bitcoin mining and all related activities are banned in the country, I guess it is not hard to move to another country. In fact, even if China is going to ban everything about Bitcoin, it simply does not mean that Bitcoin is dead. China is a unique case. We shouldn't be afraid that what happens there will happen worldwide.

[traderethereum]

I think that is because the Chinese government does not want their people to know many things that happen out there. After all, that can make their people will doing something.
The government wants to make sure their people are under control on their hands while doing many things to limit their access, knowing the world out there.
They are very strict to control everything that happens in their country and if their people do not follow what they want, they will disappear in just a second and can do that easily.
The government wants to conquer the world, and they are trying to distribute their product to all countries and tells that their product is the best among the other product.
Maybe many other reasons that we do not know behind that.