Thanks everyone with me talking about my topic. And I carfuly read the reply one by one and I learned so much.
And I have one more worry at this time. If Chinese gov banned all Chinese internet oversea-gateway, but I know the Chinese people will not give up BTCs, then the trouble comes,
There will be two BTC-blockchain in the world,
A:world BTC chain.
B:local Chinese BTC chain.
And the informations will be seprated and who is the right?
If when that bad moment comes, Chinese miners and BTC holders giving up their asserts, that will be fine, B chain will dead immediately, A is ok.
That's good.
But if they refused to give up, how can we keep the BTC chain informations Integrity?
Do we have any contingency plan?
Thank you very much.
Topic: BTC is amazing. But... (Read 1490 times)
Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
There is little to no possibilities of a move like this coming from the Chinese government, they would never want to pull a North Korea on their massive population. Communist governments actually go with the usage of Bitcoin without any hassles.
If china does such thing,then here will be shift of mining dominance from china to other parts of world.New miners would get a great chance to mine more bitcoins.Mining process would continue.Chinese miners would be the losers.Already,china has lost its dominance in bitcoin trading due to actions taken by PBOC.They are no more able to manipulate bitcoin price.If bitcoin mning also stops in china,then china would be totally out of the bitcoin game.Then we would have to only read in history that once china dominated mining and trading.
Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
Offcourse, it would most probably end Bitcoin. Majority of mining power is in China. Banning China from mining would obviously have a huge and a negative effect on Bitcoin. But Chinese government banning internet on the whole is quite hypothetical. It would affect Chinese economy to a great extent which not government would be aiming for. What can we do?
Do we have any availible plan to protect the great-BTC-chain?
Its a free market so if chinese miners get blocked, then other miners will sprout up. They could even still sell the hardware and just not run it.
Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
The miners would not do it. They would have shoot themselves on the foot that way. Who would pay them back for their hardwares?
You could say that they would be bribed. But seriously. All of them? That does not work like that. Bribery is a brobe of single idividuals in a centralised system. Decentralised system are immune to bribery. Or almost.
You could say that chineese government would order them to do so. That is more viable, but it would be extremely stupid. That government would make itself a lot of enemies, and no government want to do that - believe me.
In a summary your whole argument is based on a xenophobia. You just fear the chineese because they are different, therefore you wrongly assume they are unpredictable. They are as human as you are, therefore you can rationalise their behaviour.
Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
You forgot about one thing. What would be the point of the Chinese or any other government banning bitcoin? If ones country banned bitcoin, it would cause a significant amount of impact to the market of the country and also the price of bitcoin. If a country banned bitcoin, heaps of bitcoin will be lost and therefor supply would have decreased, which will mean a surge in market price.
China has the lowest electricity costs and is most profitable for mining, now why would the Chinese government ban bitcoin? They might as well tax it and make some money off of it.
Have heard China holding maximum % of mining ratio. What exactly is the electricity cost in China compare to US rates?
What I know is that china is the most knowledgeable country on the business and it is impossible for them to do, but even if that happens I think many other countries will replace china in the future 
Yes i agree with you, bitcoins is not depend on Chinese government, because there are no regulator for bitcoins, the growing of bitcoins depend on the ecosystem of bitcoins, bitcoins will keeps alive as long as many people who use, adopt bitcoins around the world. Bitcoins will always survive for long time, even the Chinese government ban bitcoin's usage for its peoples. 
There are many miners spread all around the world and just as many merchants and bitcoin users. China might dominate
Bitcoin mining, but they are not the only miners/users/merchants. We will take a huge hit if we lost China, but we will also
not go down without them. Asic chip manufacturing will have to move to Silicon Valley, if the Chinese market stops.
Bitcoin mining, but they are not the only miners/users/merchants. We will take a huge hit if we lost China, but we will also
not go down without them. Asic chip manufacturing will have to move to Silicon Valley, if the Chinese market stops.
This worst case scenario can be possible if the world will have the World War 3 happening or a similar conflagration can happen which can affect all of us. By then, everything will come to a halt and our Bitcoin can even mean nothing as there would be no internet and our gadgets can be useless especially if the source of our power can be disrupted.
I am sure that there are a group of people who are thinking of this possibility and they must have a plan -- a contingency plan in case a major disruption of our technological infrastructure can happen. Hope there would still be an effective communication backbone by then.
China is the one which has got the majority of miners as well user around, but same time equal number of users were found in the rest of the world. So even if government of china block the connectivity to the rest of the world nothing affects the bitcoin network users who are outside of China.
Bitcoin will never be blocked by anyone, there are to many miners and exchanges dealing bitcoin, plus you have to take into consideration all of us bitcoin investors buying and selling and mAking purchases, bitcoin is hear to stay i beleive.
Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
How would they do that? I doubt China will have the opportunity to block this. The second thing. BTC many people keep wallet offline. Only buying and selling will be difficult.
If they will block the internet then we will not be able to use our cryptocurrencies so obviously the price will drop but I don't think they will do that, why on earth they will? They will only create chaos since internet is part of everybody's lives now.
I am confused to say. But remains optimistic that the Chinese government will also not want to lose btc. In china btc is to support their economy.
Yes its confusing though but I dont think Chinese government will ever do this blocked the internet access. As possible this might affect their economy. Bitcoin has been adopted in their country and being used already. I dont think this will happen in the future, maybe they plan to improve the development in terms of bitcoin economy. There are many miners spread all around the world and just as many merchants and bitcoin users. China might dominate
Bitcoin mining, but they are not the only miners/users/merchants. We will take a huge hit if we lost China, but we will also
not go down without them. Asic chip manufacturing will have to move to Silicon Valley, if the Chinese market stops.
And then if the move to the Silicon Valley,all the unexpected,unwanted scene would happen to the bitcoin scene.Commercial vultures will start peaking their beaks into the decentralised cultures.Trump's Associates will use World Bank to put all the money into buying ASIC and start their own mining company which producers their own miners with a secret bitcoin controlling device inside it.Bitcoin mining, but they are not the only miners/users/merchants. We will take a huge hit if we lost China, but we will also
not go down without them. Asic chip manufacturing will have to move to Silicon Valley, if the Chinese market stops.
Sorry for my confused lecture.My point is,let China alone dominate the mining scene.
What I know is that china is the most knowledgeable country on the business and it is impossible for them to do, but even if that happens I think many other countries will replace china in the future
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Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
i think its not be a problem if someday chinese government blocked internet access, i am sure there will be another country to replace chinese position. there will be huge miner supporting bitcoin and make sure bitcoin will stay on the top. but i don't think that chinese government will block the access, because the government know that new technology will give big support for a country to grow and they will not blocked and even they will allow their citizen to use internet in every where.
Someday sooner or later, If the chinese goverment blocked the Internet access to the whole world,
What can we do?
Do we have any availible plan to protect the great-BTC-chain?
We all know that to use bitcoin need to have internet connection. The online transaction depends on it. But I don't think that China can take the whole internet world. What can we do?
Do we have any availible plan to protect the great-BTC-chain?
Why they will do it in the first place I don't really understand. Chinese have made more advances in the mining field than anyone else in the world. Their Silicon Valley is great example of this. If they do shut the internet then their own businesses will shut down. If mining is banned then they may not manufacture the ASIC miners out of fear that government may now shut the manufacturing of hardwares related to bitcoin mining. So that would be bad idea though.
How can a single country block the internet access to the whole world no one really controls the internet is it not centralized or regulated by any countries or a single country. If anyone controls the internet controls everything now just bitcoin he will have all unlimited to the entire worlds information even personal informations. That country will be fearsome cause it can expose a countries secret or black mail it and china doesn't have thst kind of power but what they have is 51% hash power to control bitcoin's blockchain and change its whole algorithm.
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