Is China a long term problem for Bitcoin?

[Kenshin]

Why do people think China has all the world's $$$?

Bitcoin doesn't need China and its speculators.

Carry on.

Yeah, I think bitcoin will do much better without China.

[RUEHL]

Seems it's going to be a wild ride into the 15th.  I'm a buyer into this weakness.  This is a good thing IMHO, the perceived price is too high for the normal joe. 

[DarkKnight]

This is a good thing IMHO, the perceived price is too high for the normal joe. 

That's what LTC is for; a poor man's BTC. 

[zolace]

I think people just need to ingore China and there stupid new, let the chinese people worry how they gonna get bitcoins, I see they are buying tons, so why should we worry what china does.

[LostDutchman]

"Is China a long term problem for Bitcoin?"

No.

Bitcoin and crypto in general is a long term problem for China.

My $.02.

[GodfatherBond]

Some high level officials just missed bitcoin train... whatever happens in short term (monday) BOC will change policy in long term in favour for Bitcoin. They'e innovative, just waiting for things to stabilize. China is not going to lose business.

[rohan1]

China exchanges make more than 50% turnover in all daily turnover, without China participation ,the bitcoin future will be harder,but still bright.

[bryant.coleman]

Yeah, I think bitcoin will do much better without China.

Bitcoin will definitely survive without China, but if China was on our side, then Bitcoin would have worked wonders. Remember, China is going to be the number.1 economy in the world within the next few years. And it is one of the fastest growing economies around the world. Now things will be much harder, without China and its rich billionaires.  

[Soros Shorts]

We do not need China at all for BTC growth.
Big VC $$$ is pouring into Bitcoin companies, and at this point China activity is no longer vital.
The market could recover quickly.

Wow, you're quiet an expert. China is only the largest economy in the world.

China is only the largest economy in the world.
No, the USA still is....Google it if you need more info.

No China is the largest, if we only counting industrial GDP. China has been #1 industrial GDP for a while now. US has a lot of garbage service sector GDP. For example, getting a basic haircut in China cost $1, while in the US cost $10. Service GDP are worthless.

The growth of Bitcoin is agnostic to the fact whether it is used for junk GDP or industrial GDP. The US GDP is $16 trillion and twice of China's. So what if BTC is used for tipping Chaturbate girls vs. buying raw materials for producing goods?

[sosulon]

Yeah, I think bitcoin will do much better without China.

Bitcoin will definitely survive without China, but if China was on our side, then Bitcoin would have worked wonders. Remember, China is going to be the number.1 economy in the world within the next few years. And it is one of the fastest growing economies around the world. Now things will be much harder, without China and its rich billionaires.  

But then again (not to generalize or stereotype) , china has a lot of hackers/scammers too ?

[roslinpl]

Q:  "Is China a long term problem for Bitcoin?"

A: No China will never stop trading bitcoin and they will figure it out for 100%.
    We must show support! Do not forget about what a bitcoin is for you!

[Bit_Happy]

We do not need China at all for BTC growth.
Big VC $$$ is pouring into Bitcoin companies, and at this point China activity is no longer vital.
The market could recover quickly.

Wow, you're quiet an expert. China is only the largest economy in the world.

China is only the largest economy in the world.
No, the USA still is....Google it if you need more info.

No China is the largest, if we only counting industrial GDP. China has been #1 industrial GDP for a while now. US has a lot of garbage service sector GDP. For example, getting a basic haircut in China cost $1, while in the US cost $10. Service GDP are worthless.

The growth of Bitcoin is agnostic to the fact whether it is used for junk GDP or industrial GDP. The US GDP is $16 trillion and twice of China's. So what if BTC is used for tipping Chaturbate girls vs. buying raw materials for producing goods?

You have a great point.
Hopefully it's used for both.

[xingqiaoyin]

Is avoiding the most cutting edge payment system in the world a wise move for the worlds largest economy and capitalist ?

[roslinpl]

Is avoiding the most cutting edge payment system in the world a wise move for the worlds largest economy and capitalist ?

But you must understand Decentralized money shows a middle finger to govs and banks they do not like it 

[Onar]

Until recently china easy a closed market. And that china is closed for bitcoin is not å problem, maybe they affect the value some, so what?  Unless you are trading the value is not ant concern, Its møre important with a prize that not fluctuates, If the price is 200 or 1000 usd is not å price, the price for glidd will adapted to the bitcoin value.

[Onar]

Yeah, I think bitcoin will do much better without China.

Bitcoin will definitely survive without China, but if China was on our side, then Bitcoin would have worked wonders. Remember, China is going to be the number.1 economy in the world within the next few years. And it is one of the fastest growing economies around the world. Now things will be much harder, without China and its rich billionaires.  

But then again (not to generalize or stereotype) , china has a lot of hackers/scammers too ?

China has å lot of issues that will bubble to surface in the years to come, even it seems that gjete will and probably will Its not 100%.

[xingqiaoyin]

Is avoiding the most cutting edge payment system in the world a wise move for the worlds largest economy and capitalist ?

But you must understand Decentralized money shows a middle finger to govs and banks they do not like it 

A payment system is a payment system.

As has been stated many times by our users here BTC remains the fastest and most efficient payment system compared to cashing in a check.

History has proven practicality always overcome government stance.
Monotheism is simpler to Polytheism and thus Christianity overcame Paganism.
And then for practical reason government decided to separate State and Church in Democracy.

[Bit_Happy]

China is a large challenge, but not a long-term problem.
So far, China has been a net positive for BTC*.
*Not nearly as positive as it used to be.

[kokojie]

We do not need China at all for BTC growth.
Big VC $$$ is pouring into Bitcoin companies, and at this point China activity is no longer vital.
The market could recover quickly.

Wow, you're quiet an expert. China is only the largest economy in the world.

China is only the largest economy in the world.
No, the USA still is....Google it if you need more info.

No China is the largest, if we only counting industrial GDP. China has been #1 industrial GDP for a while now. US has a lot of garbage service sector GDP. For example, getting a basic haircut in China cost $1, while in the US cost $10. Service GDP are worthless.

The growth of Bitcoin is agnostic to the fact whether it is used for junk GDP or industrial GDP. The US GDP is $16 trillion and twice of China's. So what if BTC is used for tipping Chaturbate girls vs. buying raw materials for producing goods?

Service GDP is largely worthless because it produces nothing of value. For example, person A pays person B to eat shit for $1 billion, then B pays A to eat shit for $1 billion, they generated a total of $2 billion service GDP, while producing nothing of value.

[RawDog]

"Is China a long term problem for Bitcoin?"
No.

Dutchman is a moron.  Everyone knows that.  We don't want your two cents.  

Back to the topic.  China is a short term problem.  China is also a long term problem.  It is a strange culture full of panic and crazy moves.  Have you ever heard of a 'Chinese fire drill'?  Chinese buying bitcoin is like that - only hotter.  China can't act cool.  It is a big problem.  

Unless you like to make money off volatility.  Then China is your friend in both directions.  Buy some Bitcoin stratles.  Buy a Put Option and a Call Option at the same time.  Then, when it goes up or down -  you make a killing.  China is great for volatility.  

Dutch people are a problem for both volatile and non-volatile markets.  They are just a problem.  Unless you want to smoke some dope and get some nice hookers.  Then the Dutch will set you up big time.  

See, I love everyone.