Are We Dead Without China? - page 6.

Xervo

full member

Activity: 170

Merit: 100

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 is not the entire crypto-currency market and not all of the miner's and electrochemical capacities for bitcoin. China also has a huge interest in the crypto-currency industry. And he will also strive to earn money on it.

shejunk

member

Activity: 164

Merit: 10

I think bitcoin will always exist. Bitcoin will not die because of the ban in some countries. The potential of bitcoin is huge. Now more and more countries attach importance to bitcoin. More and more people know bitcoin. I am optimistic about the future of bitcoin, I will long-term investment bitcoin.

xnuggets

member

Activity: 125

Merit: 10

Realistically, bitcoin is still working and increasing. Well that be said, it is a proof that bitcoin can continue without China, though it really has a drastic effect in bitcoin, such having a big loss in it.

hilda483

member

Activity: 125

Merit: 10

Quote from: Netnox on November 18, 2017, 12:58:25 PM

Quote from: bittraffic on November 18, 2017, 12:47:16 PM

Don't you think price would have been at 10K by now if China were still catering BTC?

That is quite possible. Some 20% to 25% of the crypto trade volume was originally from mainland China. The closure of the Chinese market affected Bitcoin and more so the altcoins such as Ethereum and Ripple. The most important market for ETH was China. And the lack of access to China has resulted in the ETH exchange rates dropping by as much as 50%.

How come China got so much of the Crypto market? Do they use those cheap video cards to mine ethereum or is it about their population being 2 Bilions?

dreamer81

sr. member

Activity: 616

Merit: 252

China doesn't matter. Sure they have a lot of mining power, but if they bail out, or they gets illegalized, the remaining world will just mine the coins. So it doesn't matter with china... demand will also still be high, because chinese will still buy the coin.

saiteja01

member

Activity: 145

Merit: 10

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 beleive more than 15% Bitcoin holders are present in china.But it will not affect the market if they will not invest in Bitcoin. The price of Bitcoin may decrease though.

Netnox

legendary

Activity: 2044

Merit: 1008

Quote from: bittraffic on November 18, 2017, 12:47:16 PM

Don't you think price would have been at 10K by now if China were still catering BTC?

That is quite possible. Some 20% to 25% of the crypto trade volume was originally from mainland China. The closure of the Chinese market affected Bitcoin and more so the altcoins such as Ethereum and Ripple. The most important market for ETH was China. And the lack of access to China has resulted in the ETH exchange rates dropping by as much as 50%.

bittraffic

hero member

Activity: 3038

Merit: 617

Don't you think price would have been at 10K by now if China were still catering BTC?

When China announce about their BTC bann on exchanges, the price had terribly plunged down in a day. If were to add up the amount of USD from china, its price would have been more than 10K. But we're not dead though.

Faxmate

sr. member

Activity: 1071

Merit: 253

Quote from: Phyton76 on November 08, 2017, 10:24:03 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.

We are not definitely dead without China but China is indeed a big contributor to bitcoin and other cryptocurrency as well. But i wont believe that all of the China's cryptocoin holders could have really sold their coins. The sudden fall on price can also be attributed to those who have panicked about the news during the past few days. Maybe some real chinese holders are just laughing right now because othe nationalities are selling while they are still holding and buying.China is helpful also to us.

No it’s not true we are still with bitcoin and going to take a very good profit from bitcoin and now bitcoin is very stable and strong in market and in future bitcoin will be more strong because when china banned bitcoin so some of the countries have join bitcoin and some of them make it legal which give more strength and energy to bitcoin.

longpro098

full member

Activity: 196

Merit: 100

No, we aren't. The Chinese market is huge, everyone knows that. But China can only make the bitcoin move a bit. No China Bitcoin has other markets. So do not worry

aisyah88

hero member

Activity: 602

Merit: 500

Of course not .... we can not depend on one country only .... and we must really try without one country ... imagine if we depend on one country ... and we can not work if one country really in turn off in bitcoin ...

doedz

hero member

Activity: 1106

Merit: 502

No more questioning about it, China even the largest BTC mining site. Lying, if china will do the banning, and this issue is long dead.
they do fud the stupid, and have been proven to fail.

JumPerz09

newbie

Activity: 50

Merit: 0

China has a greater influence on everything today! if we can have them on then we are ok but still not all the world is relying on China.. we can survive without them hehe my thoughts

hispout

full member

Activity: 308

Merit: 101

Quote from: Phyton76 on November 08, 2017, 10:24:03 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.

We are not definitely dead without China but China is indeed a big contributor to bitcoin and other cryptocurrency as well. But i wont believe that all of the China's cryptocoin holders could have really sold their coins. The sudden fall on price can also be attributed to those who have panicked about the news during the past few days. Maybe some real chinese holders are just laughing right now because othe nationalities are selling while they are still holding and buying.China is helpful also to us.

No it’s not true when china banned bitcoin so after that bitcoin become more strong and powerful than ever because after chain some other countries have accepted bitcoin and some of them make bitcoin legal and still more countries are going to accept bitcoin so bitcoin is now stable with high price in market and it will survive for ever.

Kolokoy

member

Activity: 196

Merit: 50

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Quote from: dns on November 11, 2017, 04:20:50 AM

As our opinion with China they can't stop gain of BTC just a few time was halted. But after Ciina will rules around crypto market the cryptos will be more strong.

China regulation on cryptocurrency exchange was indeed has effect on Bitcoin and Altcoin values globally although this couldn't stop cryptocurrency circulating around the globe but the fact is China has bigger role on cryptocurrency. if they allow cryptocurrency as payment of their exports products then there's huge demand for cryptocurrency that would likely the best option for international mode of payment that is more accessible than cash, visa, paypal or any fiat that are used today that set boundaries of marketing.

tientien1

member

Activity: 322

Merit: 10

We will not die if there is no plumbing Huh

?
Although China has a lot of bitcoin investors, it only accounts for 20% of the total bitcoin value, so if that is the case, then we can split it up and buy and buy at cheap prices. Grin

Kolokoy

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Activity: 196

Merit: 50

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Quote from: Momoamzad on November 11, 2017, 01:15:16 AM

This is so funny because bitcoin is already living without China . & nothing affects bitcoin till now . because whole world is supporting bitcoin and investing their . so I dont think because of only few country bitcoin will die Cheesy

They are the maker of almost miners that every cryptominer is using right now so it means that inside China itself there are a lot of mining corporations that are currently operating within China. And since the electricity in China is quite expensive, some Chinese corporations are expanding Europe because cryptomining can be used also to warm-up homes and they can offer a lot of services than their country itself.

Kolokoy

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China is more likely the supplier of the worlds basic materials and supply like anything we know today, from our households to gadgets and computers and phones.
China has also the power to manipulate Bitcoin because there has sudden Bitcoin value change whenever China has making some concerns regarding Bitcoin or cryptocurrency exchange.
If ever China will allow their local cryptocurrency exchange then all that they closed will soon be open, Bitcoin's value will surge again because they have a lot of Chinese investors also that wants to invest not only into Bitcoin but other Altcoins.

zurc

full member

Activity: 275

Merit: 100

SOKOS.io

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.

Absolutely yes, as you can see in the market bitcoin grew so much in the past months after China banned bitcoin. It is only the people of china who can not use bitcoin, yet, bitcoin now is conquering the world so do not panic

phpartisanmaster

member

Activity: 350

Merit: 10

Quote from: thesmallgod on November 11, 2017, 04:26:56 AM

Bitcoin is surely surviving without china ever since Bitcoin has been ban in China there have not been significant effect of market demand for the coin. infact the demand has increase and has risen to $7000 until recent suspension of the hard fork. what some country that have banned bitcoin seems to understand is the benefict it will have on reducing unemployment and standard of living. they banned bitcoin because they think it will affect the economy since they no control over it

I agree to that even 30% of the contributor in the market is from china, Still bitcoins will rise again like what is happening right now in the market, The value of ethereum coins are exceeding 300$ again and it is a good news.

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