The future of crypto

[the ghabbar]

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?

Indeed, this is the Chinese pattern in pursuing something they want, anything will be done if it doesn't benefit them, but to what extent this can affect crypto itself.

They banned crypto mining just because of CBDC, now all they are thinking about is how to increase people's interest to use the CDBC, to destroy today's crypto.
I don't think this has anything to do with crypto conditions.

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[btc-facebook]

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?

CBDC is just one reason, actually there are other reasons why crypto mining is banned in china, one of the reasons is so china can control their economy even though adopting crypto, you may know that many applications are banned in china, so actually crypto ban is not a strange thing.
If other countries follow China's lead I'm sure there will be other countries too who open up about crypto technology, it's very unlikely if you look at the current conditions crypto is not accepted when widespread adoption is going on.

[marilynmanson21]

China bans btc mining because they cannot control bitcoin. and the future of crypto is much better, crypto will not be affected even if china bans it. and during this pandemic the use of cryptocurrencies increased even further and most people just realized the many benefits of bitcoin and other digital currencies. As demand increases, crypto is gaining new trust.

[MIner1448]

Here is your idea, of course, correct and understandable, everything is possible, if China strengthens the position of its cryptocurrency with solutions such as the prohibition of mining, then everything is possible that other countries will follow the same example and the cryptocurrency will be banned all over the world.

[iTradeChips]

If you come think about it, the only reason China banned Bitcoin in their country is because of the fact that Bitcoin will be a strong contender of their Digital Yuan project. Despite these setbacks, Bitcoin and cryptocurrency in general will remain strong. Slowly, corporations and the general public are slowly showing interest in cryptocurrency. China is but one country, and that will not give a very big impact in crypto as other countries has already shown support of cryptocurrency.

[Rampagoe004]

After China banned crypto mining indeed at this time the price of bitcoin and altcoins fell by 50%, because China is one of the countries that fully support the crypto world in the previous year, if other countries follow China then a big problem will occur in the crypto world, but that will not happen because many countries that already rely on the crypto world even some have legalized in making transactions, and for the future the crypto world will surely rule the world.

[DarkIT]

China bans btc mining because they cannot control bitcoin. and the future of crypto is much better, crypto will not be affected even if china bans it. and during this pandemic the use of cryptocurrencies increased even further and most people just realized the many benefits of bitcoin and other digital currencies. As demand increases, crypto is gaining new trust.

Their are huge politics in this statement.My opinion was,it's also a business strategy of the china.After huge surplus of production of mining setup,they are going to export now.If they say,china had banned the mining,many people from the developing countries will started to inverse their money.From this china will boost up him economy.

[fileo]

China can absolutely play the game very well because they are one of the biggest contributor in Bitcoin mining. I believe they are not always advance in all aspect as iwe know US is one of the powerful country with regards to weapon and technology. Maybe in economics China is the leader.

[Davian144]

China can absolutely play the game very well because they are one of the biggest contributor in Bitcoin mining. I believe they are not always advance in all aspect as iwe know US is one of the powerful country with regards to weapon and technology. Maybe in economics China is the leader.

Each country has its own advantages in these two respects, such as the US which is more advanced in terms of technology but the US is very short on human resources they can rely on, well if China has a lot of human resources but is very lacking in technology, so China is more play an economic role in order to be able to advance their country, and that is also very important in my opinion.

[sapnu]

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?

We cannot be certain yet over China's decision of banning bitcoin mining within their territory but one thing is for sure, they are trying to get ahead of the game over other countries. If China's plan and outcome finally shows up, it might encourage other countries to do the same thing and it might make a huge impact to crypto for a while but for sure it wouldn't last long since crypto investors all over the world is growing each day. China is a powerful country and we can clearly see how efficient their strategies are nevertheless, let us hope the have good plans over crypto someday too wherein both the country and crypto will develop mutualism and benefit from each other.

[Gorosden]

I was bothered at first when the banning news came out but today I'm not anymore, if you look at BTC mining difficulty at that time it was going way down because of the banning news and many chinese got arrested too but after few weeks the miners (GPU and ASICS) flooded the market and got in the hands of other miners from another countries and the mining difficulty grows back up again, at this point it shows that BTC is unstoppable

[iTradeChips]

a lot of bad news about crypto has happened a long time ago, but we know that crypto has its own market that makes it loved and wants to be owned, even though China prohibits bitcoin mining I think it will only have a temporary impact, we'll see in the next few months and bitcoin goes without a hitch until bad news appears again to drop it again and again

I really don't think that China is that influential in a sense that it will be able to destroy cryptocurrency as a whole. This whole crypto ecosystem has been surviving for the past 11 years now and has since was able to stand the test of time with many countries banning it, regulating it, even bad mouthing it to influence the general public not to do anything with the said technology. And I think for the past 11 years they have failed to destroy crypto, which for me is a good thing.

[2tang]

no really, I think if their technology and knowledge were more advanced, they would use this to get as much btc as possible, whatever they say like banning crypto will eventually be opened and legal again.

The possibility will indeed be like that, because they are also not stupid people who have to forbid something to get nothing, because the truth is that in the government of that country are people who are very smart in taking advantage of every condition in the country.

[nemey]

Chinese government issued several policies regarding the banning of Bitcoin. One of them is banning Bitcoin mining. This has both positive and negative impacts.
The positive is that miners in other countries don't have to worry about China's policies that prohibit Bitcoin mining. Since Chinese mining no longer exists, the network is quiet and faster, but the downside is that people's trust in Bitcoin and other crypto assets is decreasing. Because a lot of negative news comes from the case of China which prohibits Bitcoin mining.

[criket]

China can absolutely play the game very well because they are one of the biggest contributor in Bitcoin mining. I believe they are not always advance in all aspect as iwe know US is one of the powerful country with regards to weapon and technology. Maybe in economics China is the leader.

I don't think any country can stop the growth of crypto, even big countries like China and the US as we have known for a while China and the US will ban crypto in their countries, but it will not affect the growth of crypto.  at all, but crypto is growing rapidly until now.

very big influence. not on the overall development of the market but to crypto adoption.
we know how strong the two countries are. we've already seen how it impacts the dump ever.
the market is strengthening because of the big support coming. when too much bad news, of course, can be bad for the crypto market.

[zulfi125]

Actually, Chain wants to launch CBDC against Bitcoin so that they are banning mining and cryptocurrencies but I think there will no effect on Bitcoin, as you know most of the countries adopting cryptocurrencies so I hope the future of cryptocurrency will be good.

[ik5656]

Cryptographic money is an advanced cash given by blockchain programming and directed by a decentralized arrangement of frameworks, programming, and rules.

Blockchain is truly a decentralized bookkeeping record that records a large number of exchanges. Makes it intriguing that it's decentralized — by and large, there's no focal position running it. Blockchain additionally utilizes truly mind boggling and muddled cryptography and algorithmic systems to have the option to check every last one of these exchanges. In the event that you have confidence in the innovation, you needn't bother with a bank to be a go-between to realize that the exchange is occurring.

[mumang siat]

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 any case, China always insists on what they make, China bans any Crypto miners that don't benefit them, this reason is actually just to protect the CBDC itself from Crypto influence.
If we attribute this incident to Crypto, it will almost certainly have no effect, wasn't crypto created with a lot of resistance, but under any circumstances crypto continues to grow and develop to this day.

[Plinteng]

I would say a statement of fact that sooner or later China will soon lose its relevance in the crypto space, i.e., unlike before they can release any type of news they want which will affect the market but sooner no one will care anymore, so they don't more advanced than any country but underdeveloped when it comes to crypto.

[nicolas1979]

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?

What we should know is that China is not banning crypto, it's just that China is banning crypto miners. Because it consumes a lot of electrical energy in the country. Banning crypto mining by banning crypto is much different. So there is no problem about the existence of crypto in China. Even CZ, the owner of Binance, is also Chinese.