The future of crypto

[Bitbtc8]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

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[bitkanu]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

They are feeling worry if crypto will be disrupting the digital yuan and that's why they were banning the crypto and try to distribute CBDC through various ways.
People can still interact with crypto even china was banning it and im sure there will always be people who use crypto. Crypto is far better than china CBDC that totally controlled by the PBOC.
we need to see more developers to work on it in the future to create a bridge for crypto to CBDC

[ryzaadit]

Banned news from china is lame news.

This news has already been used for a decade and last few years, do you remember 2017? we also have ban news from them and guess what. We still survive even reached new all-time high. IMO, never trust any ban news from china cause in next few month then they will tell again accepted cryptocurrency doing the same things again by baning them if reached all-time high ~XD.

[Coyster]

One thing is for sure, and that is that not every country is as dictatorial as China is, the Chinese government have banned quite a lot of things, not just Bitcoin mining and that's cause they act in their best interest and not in the interest of their 'common' citizens, thus I'd not use China as an example in this sort of discussion, cause there are only a very few other countries that operate in the manner China does.

Having said that, centralized governments have little or no say in the future of decentralized crypto, that's why many of them want a CBDC of their own, one they can control how they like, dex crypto like Bitcoin would continue to develop cause it's a project that is sustainable for the long period, that's not to say there will not be more sanctions or regulations from governments, but it would not really mean much, especially in the long run, the network functions without a third party and the government is one.

[tabas]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

I don't think so.
It's just China have that type of strategy to impose ban for miners for some certain regions and if they're going to pull out most of their miners, it's their lost and they should've close their mining manufacturers.

[Noruka]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

I have never really had the impression that other countries, especially Western countries copy China's strategy. Rather it was the other way around except for political ideologies. China isn't ahead two steps everywhere in technology. Most of the technology they have available today was bought or copied from other parts of the world. They are acquiring tech companies like crazy. What they are doing well though is to keep those companies researching and growing. By now they are slowly but surely pumping out innovations that is fully under their control and in their possession.
I think when China bans crypto there might be well developed nations around the world that could see Bitcoin as an opportunity rather than a threat. The key is to integrate it wisely into your economy. I don't know how that could work without undermining one's own financial system, but maybe some governments find smart ways.

[capcaypro]

Actually, if we talk about this, I don't agree with saying that China is two steps ahead of the others. If we say that it is more advanced than other countries, of course, they will not be in second place at this time, they will definitely be the first.
but indeed China's strategy is very good both in terms of technology and the economy. Since the late 1970s the Chinese government has made various efforts to improve its economy. This included making aggressive central planning, taking advantage of the advantages of cheap labor, devaluing the currency, and developing a strong factory system to spread its products around the world.
so here if you look at the strategy they apply it will make sense when they ban bitcoin mining for the sake of advancing their project (CDBC). although this is very hated by people who adopt bitcoin (I am one of them) but they stick with their stance and strategy and I am quite amazed by that kind of thinking

[mobtc]

China is a socialist country, and virtual currency is a product of decentralization, which is not suitable for China's national conditions. But I think virtual currency is an investment resource, as long as it can bring gains, it will still exist.

[MarjorieZimmermanGinger]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

China is a country that has good human resources for all fields. However, this country has always placed itself at number two in everything, the technology they have is also quite good for now.

Other countries can't possibly position themselves like them, it's almost impossible for that, I don't think it's a problem if all countries do the same with them.

Crypto will continue to develop without the presence of any country, today we have seen the existence of crypto in the world, that there is no dependence between them in developing, indeed there are some influences that can weaken crypto, but not so meaningful in my view.

[isaac_clarke22]

~

Pretty sure if every countries followed the same banning, they could have done it already long time ago but they didn't so...
In the end, people can still have the means to use crypto even if such bans in mining and even trading happen.

[WalkerIVIV]

China is a socialist country, and virtual currency is a product of decentralization,

China will make anything to be centralized because china wants to control it. This is a common thing for sure. You must see that if after announcing the CBDC and then china was banning crypto caused by they know that if they can't control crypto and that's why they were doing the last decision to ban crypto from there.
Im sure that we will able to enter into the china again dude. So many people are still using crypto

[dbc23]

Even with China's CBDC and their ban on Bitcoin it can't stop Bitcoin from been in use. Bitcoin existed before any other digital currency and has done well before some countries decided to adopt it. If other countries decides to ban bitcoin Completely a better technology will be developed to enhance it's useage and circulation

[Teraboy]

Bitcoin is more better then CBDC china ban bitcoin mining and other cryptocurencies.  

You think bitcoin was better but the PBOC think if CBDC was also better than crypto. I think that the the main problem that was affecting crypto already solved. The new bitcoin house will come and we didn't need china again. They will give up with the domination of crypto in the future. The time well tell us about that but im sure that there will be bunch of developers create the gate to the CBDC
Crypto is just getting started now.

[vv181]

China is always two steps ahead of all other countries in terms of future tech ~snip

I rather think it is a backward step instead of embracing future technology. But who I am to say, the policy surely made for their own benefit, and China is an influential country that their own move is thoughtfully considered.

~what will happen if other countries later follow the same steps? Will this put crypto in trouble?

Well, just like what currently happening to the miners. Does the latest China miners crackdown put crypto to trouble? no, It's not.

A global mining crackdown is highly unlikely, there will always be countries that ban mining AND embracing cryptocurrencies mining. Those governmental moves will coexist without all countries being forced to ban them, just like what happens to El Salvador.

At the very least all the miners will move to the place where they are able to maximize the profitability, and be safe in therm of political consequences.

[Xinarae*]

The future of crypto is much better crypto will not be affected even if china bans it. Increased activity in blockchain space may also be related to the growing popularity of the epidemic crypto industry the use of cryptocurrencies has increased further and most people currently involved in the gambling industry are actually aware of the many benefits of bitcoin and other digital currencies. As the demand grows crypto is gaining new confidence.

[aemma]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

In as much as they are trying to protect their digital currency, but one will ask, how people will even use it the way they use Bitcoin? A user in China can send Bitcoin to anyone in the world but can same be said of their digital yuan, so that means in addition to having a digital yuan people will also hold Bitcoin since it offers them no sort of restrictions. Also, since they banned miners, what have happened to Bitcoin? It is still here and rather other regions have started embracing miners which means that there are still a lot of countries that understands what Bitcoin offers and how it will influence the future positively.
Also, another thing that is already happening now is, China will soon lose their relevance in the crypto space, that is, unlike before they can release any type of news they want which will affect the market but sooner than later nobody will care again, thus they are not ahead of any country but backwards when it comes to crypto.

[anandaijun]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

If that happens, then the crypto world will certainly be a problem. But have we ever imagined that if any country sees crypto as a solution to economic recovery, what will happen?
Therefore, regarding the future of crypto, it all depends on how we think and those who have a role in the state system.

[CaptainCrapper]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

when entering in the crypto market I see china after 2 years make a drama for the market down. after someday they give permission to it so I think china cant dump its market again pump so I think the future of crypto is too much good.

[Jackl87]

China is always two steps ahead of all other countries in terms of future tech and I think the reason why they ban crypto miners is because of their CBDC but what will happen if other countries later follow the same steps? Will this put crypto in trouble?

That is probably a little off topic here but i strongly disagree with your statement that china is always two steps ahead of all other countries in terms of technology. In terms of environmental protection, until 15 years ago they were at about the same level as the majority of Western countries were in the 1960s and 70s. At that time, China was still discharging highly polluted wastewater directly into rivers and doing similar things. The air in Beijing is still so dirty that there are disproportionately more miscarriages and other health problems there than anywhere else. So in this area they are 10 steps behind rather than 2 steps ahead.
I doubt that western country will forbid crypto mining just because china did it. China does not serve as a role model for Western countries, maybe it does for a few other asian countries.

[chanler]

If there are indeed many countries that prohibit crypto, of course it will make crypto even more chaotic and decline. Although currently there are still many countries that accept crypto and it is unlikely for crypto to be destroyed, but we must also be vigilant and remain calm. There's also a lot of news out there that vilifies crypto and that makes a lot of people worried. If this continues, I am afraid that the popularity of crypto will decrease and it will affect the market because many people are panicking and selling their crypto assets. That will make the market even more chaotic. Never mind, we have to put that thought aside and keep thinking positively about crypto that crypto can still and will still be able to provide benefits for us.