Are We Dead Without China? | Bitcointalksearch.org

awawo

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Activity: 406

Merit: 13

Quote from: iamTom123 on September 14, 2017, 10:05:09 PM

China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.

In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.

So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.

Despite the fact that China house cryptocurrency due to China advance ability in technology, bitcoin can not die just because of China there are some other countries that support bitcoin but if China don't support bitcoin it may affect the Price but not to the level of killing bitcoin.

quuyt4

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China is indeed an important contributor to Bitcoin and other cryptocurrencies. China does have a large number of miners and investors, but they only have 20% of the world's shares. So, I don't think so.

denpinchinhhangcom

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No, we don't
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DarkIT

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Quote from: weeg4 on April 15, 2018, 11:41:08 PM

China is indeed an important contributor to Bitcoin and other cryptocurrencies. From the statistical data, China has a major impact on the world economy. But it is not isolated from the rest of the world. China cannot prohibit Bitcoin on behalf of the world.

yes, Of course not. bitcoin will survive, because there are still many countries that develop bitcoin, and I know it will be more popular. china may have an effect on bitcoin prices, but china has banned bitcoin from their country. so, we have to move on and keep working.

weeg4

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China is indeed an important contributor to Bitcoin and other cryptocurrencies. From the statistical data, China has a major impact on the world economy. But it is not isolated from the rest of the world. China cannot prohibit Bitcoin on behalf of the world.

1jaffa1

full member

Activity: 280

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One can argue the statement but at the moment bitcoin (and all cryptos) are still in quite early stage of development. Events like the recent ones in China help establish weak points and possible problems in the future and make (bit)coin more resilient to future problems. So in unlikely development that the bitcoin would fail totally for some reason, i'm quite certain that the some new coin would implement the solution to the problem which would cause the failure and move on.

Michellekking

newbie

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Quote from: iamTom123 on September 14, 2017, 10:05:09 PM

China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.

In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.

So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.

I don't think bitcoin can survive without China. Now that bitcoin is circulating around the world, it doesn't just circulate in China, it doesn't die because of a country. If China completely bans bitcoin, the entire encryption market will be hit hard, but it will not lead to death.

Regsoa

newbie

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Quote from: iamTom123 on September 14, 2017, 10:05:09 PM

China has become the powerhouse for Bitcoin (and the whole cryptocurrency in general) as it is hosting many Bitcoin miners due to cheaper electricity and maybe also cheap labors. China also boasts of probably millions of Bitcoin owners and traders who are influencing the moves of the market on day to-day basis. As far as acceptance of Bitcoin in China, it is comfortably good until such time when the government decided that it is time to intervene.

In general, the Chinese government is not comfortable with Bitcoin as it indeed representing a different currency that they can not control with. since Bitcoin is decentralized it would be hard for the government to make interventions and so they are thinking that maybe it is time to ban it altogether. The government can not kill Bitcoin but what they are doing is actually closing the country as a market for Bitcoin.

So the question is: Can Bitcoin survive without China? In case, it can't then then there is something wrong with it since it is not resilient to ride the big storm it is in.

Reading something like this I always wonder when will be the time when countries & Borders will be irrelevant!

Anyways, IMO people with Bitcoin are going to move to places that gives them favorable environment. I see all the countries trying to grip Bitcoin end up loosing their innovative minds.

prolisko

newbie

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China has influence, but Bitcoin will survive without China

doreraj

jr. member

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if to speak about Bitcoin, it may be already now can survive without China but in what form suppose nobody knows

favor222

newbie

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No, we are not dead without china . There are so many different countries which increase knowledge about btc and they buying btc.

BTCMILLIONAIRE

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Quote from: aysg76 on December 17, 2017, 07:06:12 AM

Quote from: quocsi on December 17, 2017, 06:50:48 AM

I do not believe that without China we would lose everything. The truth is that China is forbidding bitcoins. I think you are promoting China excessively. China has a big impact on bitcoin but I think it is not dominant at all. Bitcoin networks are distributed everywhere.

The impact of China's ban on bitcoin lasted for just a few days but the bitcoin survived it successfully and is doing great without it. Bitcoin today is about to cross the pillar of 20k which is a great achievement for it and that's all without China's interference. All that proved to be a hurdle in its path but that pumped it to an enormous height...

And back down on the rollercoaster. Nothing to do with China though.

vinzanityyy

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The drop would definitely be a big loss if it wasn't for china I guess.

haster100

member

Activity: 154

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we will not be dead without China. Of course, the ban on bitcoins exchange would create an impact on the market, but this would not kill bitcoins.
China plans to regulate the ICO, so perhaps after that we will see a spike in the price of bitcoins.

Dluretic

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The Experience Layer of the Decentralized Internet

Now that there is an answer, going to China not only has not resulted in the death of bitcoin, but has made bitcoin a new height, so China is a dangerous factor. Grin

MerrickMaverick

newbie

Activity: 32

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Forget about China. They will not control anything. Cryptocurrency is not under their control and never will be. However they are not able to ban it even in their own country, so they will have to ride the train, or jump off completely and let it go without them

Henry27

newbie

Activity: 14

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I think at the beginning of bitcoin is prohibited in china market was chaotic bitcoin prices dropped dramatically but over time bitcoin stabilized and its price continues to rise. so whether bitcoin can survive without china? of course can, because bitcoin like internet network no one controlling it.

shinjunobi09

member

Activity: 126

Merit: 14

Well technically they are really against the very foundation of bitcoin, their government is what I am talking about but I think they are still incapable of banning it in their country this is probably because many of their are smart and wants to gain their freedom for their government, which is why bitcoin has strived for many years in their country.

aysg76

legendary

Activity: 1974

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Quote from: quocsi on December 17, 2017, 06:50:48 AM

I do not believe that without China we would lose everything. The truth is that China is forbidding bitcoins. I think you are promoting China excessively. China has a big impact on bitcoin but I think it is not dominant at all. Bitcoin networks are distributed everywhere.

The impact of China's ban on bitcoin lasted for just a few days but the bitcoin survived it successfully and is doing great without it. Bitcoin today is about to cross the pillar of 20k which is a great achievement for it and that's all without China's interference. All that proved to be a hurdle in its path but that pumped it to an enormous height...

quocsi

full member

Activity: 360

Merit: 100

I do not believe that without China we would lose everything. The truth is that China is forbidding bitcoins. I think you are promoting China excessively. China has a big impact on bitcoin but I think it is not dominant at all. Bitcoin networks are distributed everywhere.

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