Are We Dead Without China? - page 18.

lenovo16

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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.

Yes it is true, China is a big contributor in the digital currency and in the bitcoin. We saw that, when the bitcoin fall down a few weeks ago because of the issues in the China. But now, bitcoin is gaining itself and surpass its value back then. It survive and became better than before. So even if without China, bitcoin will still grow and proves itself in the digital currency.

JasperKornich

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Of course perhaps the market will move,but anything serious will not be.
Since China only 15% of users of bitcoin.So why worry,everything will be fine.

JohnBitCo

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Chinese hold 20% of bitcoins about the rest they're world wide.I don't think it can affect on market by banning the bitcoin, And china just ban the ICO exchange not bitcoins. Even if they ban the Bitcoins, there should be no effect in the long term to bitcoin as bitcoin is not a Chinese currency, its a decentralized digital currency and no one country owns it.

chip211

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Definitely one thing without china we still live, although the crypto market may be chaotic for a long time. But I'm sure it does not affect us too badly.

Barcode_

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Join the world-leading crypto sportsbook NOW!

Bitcoin price just managed to surge to another high record this week without the chinese, so I believe the China government must be realizing that their ban on ICOs and crypto-currencies exchange won't affect the bitcoin price in the long run, maybe it is truly better without the china market.

bearexin

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Quote from: jubalix on September 21, 2017, 08:02:21 PM

even a cursory look at BTC's history has seen many "bans" by china on BTC, the PBOC and friends routinely come out and BAN or similar to BTC etc.

It is amazing to see that people still react to this in almost anyway.

I suppose there must be a lot of new entrants who have not lived through the history of BTC.

Bro I didn’t so because not all the bitcoin miners lie there in China. Now there is large number of bitcoin miners in the other countries of the world. Therefore the domination of mining does not hold by the Chinese anymore. If they stop mining other will double the production because of the demand and they will earn huge amount of money and then electricity will be not a problem for them.

Omega Weapon

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Quote from: PalindromemordnilaP on October 07, 2017, 04:56:09 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.

It's like "they don't really know what hit them" scenario. Banning Bitcoins will not affect the cryptocurrency world or even weaken the solidity of bitcoin because i don't think Chinese owns the biggest percent of Bitcoins in the market. Yes they can ban Bitcoin forever but doesn't stop BITCOIN. Though bitcoin suffers a major downfall on that action by China, still, "The currency for the people" has its value skyrocketed once again and that its value may even reaches 5K USD before this year ends.

It is incredible that despite all the efforts being made in order to stop bitcoin, despite all the FUD, bans and forks, bitcoin has reached an all time high that just a few years ago would have seemed impossible, I think we may be on the verge of bitcoin becoming unstoppable, nothing seems to have a long term negative effect on it, it is true that the price still goes down with bad news but immediately recovers, what will happen when governments finally ban bitcoin and bitcoin remains unaffected?

GideonGono

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By now, you should know the answer. Bitcoin's price just reached $5k despite of the Chinese issue. Bitcoin is across the world so not a single country can decide the fate of Bitcoin.

Kersh768

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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.

Bitcoin have already recovered from the downfall that happened recently and it ibviously shows that Bitcoin will still be as this successful without China. It is currently priced at 4600$ and continuously increasing, making it also possible to reach 5000$ before this month end and before the incoming hardfork. And if the next fork will be successful, Bitcoin's value will be more expensive before this year end which also means more profit to its users and investors.

kingjofri

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China is a world of its own. I'm not saying China is like N. Korea but China is developing its own product, currency, social network and etc. The reason why China progress on the product that it creates is that their country regulates it and the people are patronizing it. Even with the western influence the culture of China is still intact.

wellsontheja

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First time hear the news about china banning bitcoin i thought bitcoin will lost they potential but it's wrong.In fact the biggest potential is now in the hands of japan, in fact bitcoin has managed to get a pretty high price back at this time.

Pansamantala

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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.

No bevuase there are many rich people and rich counry that willing to invest in bitcoin.

Muhtaixa

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without china bitcoin already reached 4800 us dollars. yeah they are still very important but i dont think china s reaction to bitcoin end of the world.

krisnt80

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China has big influence into bitcoin, big companies that are focus into mining are located there, but they cant kill bitcoin, they havent such power to damage bitcoin soo deeply. Investors and crypto were able to see the impact of China banning bitcoin, that were something like a loss of 25% into bitcoin value, sure its a big ammount but we are alive even if those really will happen one day.

kangjiasg

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Exclusive Member

I won't say we will die without China, but we will get affected for awhile. China is a giant big country which surely will distrupt the market if they make any major move. But if China is in then we shall see price going sky rocket

frowsiter

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Lols!

I read this question one more time and then I saw the tab where my coinmarketcap is open and that tells me completely different story after having china news two weeks old. The price of bitcoin surely not gonna affect due to china or any other country's ban because it knows how to get back in action. There are more enthusiastic investors in the bitcoin as compared to scary people! They are smart enough to handle the bitcoin trades when it falls below. So no china is thumbs down.

Bakemat

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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.

China have a big contribution if we talk about the bitcoin because many people in bitcoin user was from the china. So if china banned the bitcoin (now happening) it was a massive impact, its effect an instant falling down of value of bitcoin in the cryptocurrencies but yoi say are we dead without china? Impossible because if that country banned there's country was allowed it. Even though its a big country its only faaling down the value but its not become dead the bitcoin.

kandholabhavna

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Nah, nothing as such. Please keep in mind that bitcoin was made as a alternate currency so that we can get away from centralized ones. China and many other countries will eventually try to censor or ban it for sure, but its some thing they cant control.

Asmonist

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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 so. Each country has its own natural resources. There are lot of chinese all over the world. We are not only dependent with China. Each and every country has its own distinct qualities. Without China there are still other means. With or without China.. Chinese are everywhere. We are independent dependents but we strive to survive.

Gauravbhargava

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Quote from: Intersan on October 11, 2017, 08:56:55 AM

Quote from: bittraffic on October 11, 2017, 08:43:34 AM

BTC price is now back to 4800 without China. I guess I'm wrong about us needing them for its price to be back again to its ATH. We're not dead even without China. Bitcoin lives!
But the struggle still continues now that there are a lot of people trying to destroy BTC including Jaime Dimon and there was the news about Korea banning BTC too.

That's true, it means that without china we can survive. Bitcoin is world currency, it is not for china only, there is country who loves bitcoin cause it gives a huge profit to here. Maybe that time, when china banned the bitcoin, the price decrease but it is easily recovered as what we encounter now. All successful business encounter hindrances, it is part of the business that encounter of challeges and measured the skills of business.

Bitcoin is alpha which can't be much effected by these little things. Next hike will be around 6k+$. Just wait and watch.

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