Topic: Bitcoin life depends on China (Read 1487 times)
China does dictate the price of the Bitcoin a little bit. It does rely on them but you have to remember it is also available in every country.
India is one emerging market to watch! Not many people have bank accounts in India so if Bitcoin can get a good ground base before the banks it will take off.
You got it wrong. Bitcoin depends on world. Not one country. You are also mixing its fast growth and profitability with it's surviving.
I think it's important that bitcoin gets independent from China and that it will gain legitimacy in more or less every country 
No matter how hard BTC falls, it'll b up again in the long run - mathematics.
BTC is a P2P network based anonymous digital currency not China.
rijm2004 bitcoin is a strong new era currency which is not dependent upon any country but it has power and ability to run on its own until we traders, buyers and sellers are shielding it. All the worth that any currency hold is due to our faith in it so every currency is dependent on us not china or any other power
Bitcoin doesn't give a fuck about china.
And stop looking at those prices and measure bitcoin true values by it.
And stop looking at those prices and measure bitcoin true values by it.
Overall we're still higher than we would have been had China not been involved.
For now. The Chinese will have to withdraw everything before the 31st of January.
Is there option for Chinese to buy Bitcoins instead and keep them ? Probably small part of Bitcoins will end this way.
Overall we're still higher than we would have been had China not been involved.
For now. The Chinese will have to withdraw everything before the 31st of January.
China will recover. I am sure.
I think it's wishful thinking to think China will recover. I think it is game over in China. I currently live and work here and it is very clear how the government operates.
First, they seemed open and friendly to Bitcoin. A tactic only, while behind the scenes they viewed it as a threat and tried to determine how to move against it.
Second, they released a vague and general statement through the PBOC banning financial institutions from involvement in Bitcoin, while still stating individuals are free to own it. Again, on the surface appearing accepting of Bitcoin, but those that understand how government works here, reading between the lines as a warning shot to get the hell out. My Chinese girlfriend actually read the press release and warned me in advance that Bitcoin was now being taken seriously by government.
Not long after, a secret meeting was held with payment processors to stop all funding of exchanges. Again, moving in the direction of a complete Ban, but still leaving the door open for individuals to trade bitcoin and withdraw back to CNY.
Next step??? I believe they will set a time banning financial institutions from allowing CNY withdrawal. The government is just corralling the herd. Once this happens, a stampede to get money off chinese exchanges happens. Price falls dramatically.
Result: Bitcoin still legal to hold and trade just as the government initially had said. However, essentially worthless for the average Chinese without a foreign bank account.
China will recover. I am sure.
If someone wants to use Bitcoin it's going to be very hard to stop them - the authorities can't sit over the entire population while they use their computes.
lol
No bitcoin won't die because of a comunist dictatorship
I think that China's position will only make them out from something that has come to stay, and that the future will not have mercy on them.
Only my opinion
No bitcoin won't die because of a comunist dictatorship
I think that China's position will only make them out from something that has come to stay, and that the future will not have mercy on them.
Only my opinion
rijm2004 no doubt bitcoin is an infant crypto-currency while china is the father of bitcoin. China has authority and power to kill bitcoin or save it. According to current situation I guess china is wishing to kill this junk named bitcoin. Yes junk because it shall be worth nil soon. Rest in peace Bitcoin and I feel sorry for investors who made wrong bet on bitcoin
Overall we're still higher than we would have been had China not been involved.
Even if China were to try to totally shut down bitcoin it would just push it underground. It is an excellent way for the wealthy in China to freely move their wealth around. All it takes is a smartphone and a few coins to set up a bitcoin selling operation.
I know Chinese deep down love btc 
I do wonder why BTC dropped so far when China announced the trade in from Yuan to BTC was prohibited. Is it because there are a lot of investors in China? Why did it drop so fast?
It went up like a rocket because of all the adoption and good news from China and now drops like a rock because of the ban. Simple as that.
I do wonder why BTC dropped so far when China announced the trade in from Yuan to BTC was prohibited. Is it because there are a lot of investors in China? Why did it drop so fast?
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