Are We Dead Without China? - page 11.

Wexnident

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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.

We are definitely not. Indeed, what happened before with China resulted into a big trouble for the whole cryptomarket includig Bitcoin. Its market value fell but it was able to fully recover and to have a much larger market value of 6000$ and still increasing, from a value of 3300$, its market value when the downfall happened. It clearly shows that Bitcoin is still as this succeesful with or without China.

Squidoogeek

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It might be preferable if the Chinese government was flexible enough to let its citizens stay involved, but Bitcoin can survive without China. It would just require some rearranging of resources and/or a willingness to put up with reduced hashrate for the short term until somebody else picks up the ball. China can't be the only country with cheap electricity.

scottykarate

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Yeah, the Chinese government are known for their currency manipulation, so this isn't surprising. They will regulate and control it to a certain degree and things will smooth out...once the government figures out how to get their slice of the pie.

I'm sure all governments and big businesses/investors is viewing it from a similar angle, though.

But, having China onboard all the way again would be great. The more the merrier!

3kpk3

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Quote from: omnitudeorg on October 31, 2017, 10:54:45 AM

Nope, China will come back around soon enough, as Bob Dylan once said: "The Times They Are A-Changin"

Who cares whether china will support crypto or not? No government will ever succeed in regulating bitcoin and the crypto world. The whole china debacle in recent times was simply blown out of proportion. The chinese are simply trying to play the crypto market in a strategic way to milk profits for themselves which is very smart on their part.

Pfizer

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Quote from: khanjan12 on October 31, 2017, 04:36:03 PM

Quote from: Omega Weapon on September 15, 2017, 12:06:04 AM

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.

Bitcoin can survive without China, but it is obvious that a shock is going to happen if the Chinese get completely out of bitcoin, however after some time bitcoin is going to go back to normality, I do not think that bitcoin viability is going to be at risk let alone its survival, so if they want to get out, let them since there are many people in the world that are willing to buy their bitcoins and create their own mining farms.

i dont think so that BTC will be dead with out china...because BTC now have came the worlds top crpto currency..but keep that in mind with out china BTC have to take some time to higher its value.

It's decentralized which means it doesn't need any specific country to be strong. All the community can support and demand it worldwide. That's why we're here on this ecosystem.

It will be much stronger.

khanjan12

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Quote from: Omega Weapon on September 15, 2017, 12:06:04 AM

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.

Bitcoin can survive without China, but it is obvious that a shock is going to happen if the Chinese get completely out of bitcoin, however after some time bitcoin is going to go back to normality, I do not think that bitcoin viability is going to be at risk let alone its survival, so if they want to get out, let them since there are many people in the world that are willing to buy their bitcoins and create their own mining farms.

i dont think so that BTC will be dead with out china...because BTC now have came the worlds top crpto currency..but keep that in mind with out china BTC have to take some time to higher its value.

omnitudeorg

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Nope, China will come back around soon enough, as Bob Dylan once said: "The Times They Are A-Changin"

hefo73

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i love coins

a new exchange will open in china.
i do not think china is dead.

link (german site)
http://www.deraktionaer.de/aktie/schluss-mit-china-s-bitcoin-boykott--neue-boerse-angekuendigt-342490.htm

skylark001

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Bitcoin conceptualize in 2008 and in gradually it spread. In year 2013 Bitcoin got a boom on the Huobi exchange at a high price of 8,000 CNY, with a 20k fold increase in price from 2010.

In 2013 Dec, the People's Bank of China stated ‘Bitcoin may not be used as currency’ and warned people about the risks involved. Bitcoin got a panic fall. The very same way, it’s getting volatile with the news.

Just to inform, In 2015, approx. 50% mining was done in China but merely mining does not suffice for Bitcoin existence. It should be supported by rational government policies.

Hence, without China Bitcoin could not be dead.

Actually, in my view, Bitcoin existence is with Mining + Government regulation + Trading exchanges.

ghost14k

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China or no China bitcoin is waxing stronger. The past few months we have seen a rapid growth without China and it means bitcoin can survive without China. This means the decentralized is really paving way, Bitcoin don't need to be manipulated by a certain country.

panju1

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Quote from: Reatim on October 30, 2017, 02:26:51 AM

Quote from: 4p0l4k4y on October 25, 2017, 07:38:10 AM

Stop drinking tea it makes you feel nervous. Lol..
China is absolutely contributing alot for bitcoins success. However the life of bitcoin is not dependent to them since the coin is decentralized. So regardless if china will do bitcoin or not, bitcoin will still flourish.

And there are news lately that they are going back again? For me its really how they take their support from bitcoin that pained a lot of us. But I guess we have moved on already and we just proved the bitcoin will not die even a country as big as China suddenly quit on us. But them going back again? I don't know, maybe they have some influenced but not the same anymore.

The rumour was that after their National Congress ends , China would allow exchanges to reopen with stricter regulations. But nothing has moved on that front yet. If it does happen, the price could get a real boost.

Reatim

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Quote from: 4p0l4k4y on October 25, 2017, 07:38:10 AM

Stop drinking tea it makes you feel nervous. Lol..
China is absolutely contributing alot for bitcoins success. However the life of bitcoin is not dependent to them since the coin is decentralized. So regardless if china will do bitcoin or not, bitcoin will still flourish.

And there are news lately that they are going back again? For me its really how they take their support from bitcoin that pained a lot of us. But I guess we have moved on already and we just proved the bitcoin will not die even a country as big as China suddenly quit on us. But them going back again? I don't know, maybe they have some influenced but not the same anymore.

batang_bitcoin

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Quote from: 4p0l4k4y on October 25, 2017, 07:38:10 AM

Stop drinking tea it makes you feel nervous. Lol..
China is absolutely contributing alot for bitcoins success. However the life of bitcoin is not dependent to them since the coin is decentralized. So regardless if china will do bitcoin or not, bitcoin will still flourish.

Bitcoin gets a big help from China and now they will be back in business and in this news the market will be even healthier again. Out of their business for a while the market started to decline but later on it became healthy again. They probably understand that even without them, the market of bitcoin can still go on. They are giant in every industry but it can still move on even without them.

VladimirsV

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Of course not, crypto world is more than china, even if they hold like ~20% of bitcoin Tongue

4p0l4k4y

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Stop drinking tea it makes you feel nervous. Lol..
China is absolutely contributing alot for bitcoins success. However the life of bitcoin is not dependent to them since the coin is decentralized. So regardless if china will do bitcoin or not, bitcoin will still flourish.

blackr15

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If I think we will not die without China because there are many other countries that support bitcoin ,,

therefore we must be spirit and diligent only ..
do not be affected for others ..

Activitycoin

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Quote from: tosax on October 21, 2017, 09:49:19 PM

I think btc could power through a china dropout. It would cause a pretty big panic but with Bitcoin becoming global over the last few years, china doesn't hold a majority percentage anymore. If you would have asked that question 2 or 3 years ago my answer would be very different.

No chance and even I can’t happen that bitcoin can die without china because bitcoin is now accepted by many countries and recently bitcoin is arrived in Thailand and some other countries are going to accept bitcoin end of the year bitcoin is now reached in single part of the world and its users are increased then last year so bitcoin don’t need china.

Qartersa

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No, I do not think Bitcoin investors will die nor suffer from Bitcoin devaluation without China. It is because Bitcoins is not dependent on any economy. It is economy on its own because it exists online, thus, it will continue to exist even with absolute banning from a particular jurisdiction as long there are willing investors who will make it a success through the principle of supply and demand.

Omega Weapon

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Quote from: shield132 on October 15, 2017, 04:50:25 PM

Quote from: 1DC on October 15, 2017, 04:40:45 PM

No, I don't think so. Yes China is a country that really helps to increase the price or value of bitcoin. But it does not necessarily means that without China, the bitcoin value will also dead. It just happens that China is large country that is why it will have a huge impact in crypto market.

Agreed 100%, China really plays important role in increasing of bitcoin's price. Imagine, every their word can affect price immediately, they caused falls but finally they made current price and that's reality. But without china bitcoin won't die, won't be alive too. It will be hard to keep this price, it will fall because everyone in china will have to sell bitcoin and when you want quick sell, you have to lower price. Bitcoin won't be N1 currency without china and that's truth to my mind.

A complete ban from China will be great for us not only the price will go down but as you said suddenly all the Chinese investors will want to sell, that will lower the price even more and we will be ready to buy cheap bitcoin once again, I do not see why people worry so much, if that happens we will have the opportunity of a lifetime and I will be ready to take advantage of it.

BrickWall

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Quote from: Xester on October 23, 2017, 06:28:37 AM

Quote from: sydcrypt on October 23, 2017, 05:55:21 AM

BTC cannot be banned, unless internet is bannned. But the shutting down of exchanges did create a temporaary fall.. but today at this moment, the value of BTC at 6000$ approx itself has proved that china has no influence on BTC.

I have also the same presumption that the move of China to ban bitcoin will greatly influence its price. It just also happened that when China banned bitcoin, Dimon announced that bitcoin is fraud that is why its price went down. But after just a few days bitcoin came back and its price right now is relatively high. So just like what you said, China as no direct influence on bitcoin. Maybe we are just thinking that China has a large population and that it is a huge country that is why we are thinking that it would affect the bitcoin price after China banned it.

Thats correct. It will influence the price of course but it doesn't define the price. There will be a lot of dump after news like this comes out but the price usually returns to its former value in a few days.

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