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. 
Topic: BTC is amazing. But... - page 2. (Read 1490 times)
I doubt something like this would occur, as it would cripple the Chinese economy as a ton of business for Chinese factories do go through the internet / EVERYTHING GOES THROUGH THE INTERNET TODAY (Taobao, Alibaba, Aliexpress, ETC for China)
If this did happen, it would make the difficulty much easier for the small miners here in America and other countries where the power is MUCH more expensive. This would then make more and more people join in on the mining train and through sometime, would have Bitcoin stable out without the Chinese miners and buyers/sellers.
We'd be protected without an issue, people could even go back to mining on their GPU's if something of this caliber was to occur -- and we'd probably make some good money out of it.
If this did happen, it would make the difficulty much easier for the small miners here in America and other countries where the power is MUCH more expensive. This would then make more and more people join in on the mining train and through sometime, would have Bitcoin stable out without the Chinese miners and buyers/sellers.
We'd be protected without an issue, people could even go back to mining on their GPU's if something of this caliber was to occur -- and we'd probably make some good money out of 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?
If the chinese government blocks the entire mining infrastructure in china it would be a problem because the hashrate would go down, but the difficulty would go down too so everything would adjust.
Also it's only a matter of time when the west enters the mining game. Once Intel and AMD and Nvidia enter the mining game with their technology they will beat the shit out of the Bitmain crap and the chinese will finally have competition.
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.
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.
I don't think Chinese governments will turn off internet, if they turn it off their technology will fall behind and their economic will be affected, if the Chinese government banned Bitcoin and the miner can't work from China then we still have a lot miners from all over the world
Indeed, we all know that the Chinese population is scattered in almost all corners of the world, as well as its products and technology, because of the density of the people in their country, migration becomes an option to overcome the problem. Blocking internet access to worldwide? Where do you get this news, I think it is very unlikely, as said by the members above, this will greatly affect the economic and technological developments in china, while their dream is to dominate the economy and technology in the world. Not a few investors who entrust their money to bitcoin, Miner scattered everywhere in China. And the government is unlikely to ignore it all.
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.
Indeed there is no need to worry about Chinese. No offence but they sure no the consequences of this fact that abondoning mining within china (biggest one) can lead to chaos in their own economy. The reason is simple, people in there already have sat up big rigs with huge amounts of investment. That wouldn't be good impression by the government on the youngest or sponsors.
china is explicitly not gonna accept any criticism about what they did, however as long as we can still access to the Chinese website, likely we still have possibility to protect bitcoin from blocking. as bitcoin is decentralized, if to block the whole internet they have to block all the altcoin in circulation around China.
If that will happen, there might be bad and good effects to mining.
But until that day still not yet come, i may not have to think so much negativity in me.
Because we dont know when.
But until that day still not yet come, i may not have to think so much negativity in me.
Because we dont know when.
How can you make such decision? Didnt mining procedure relate to bcc same as btc
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?
Well it is possible to happen but I don't think it was likely to happen since most of the bitcoin trading was happening on china and bitcoin was already a part of china economy but In case that it happened I don't think bitcoin will stop but yes doing so will cause a great impact to the bitcoin community specially it's price we will never know if how much will it decreased or increased so lets just hope that it will not happen.
If it happens, then there will be a decrease in the price on the market altcoin.tapi bitcoin remain alive and continue in use by miners and ivestor.
If that will happen, there might be bad and good effects to mining.
But until that day still not yet come, i may not have to think so much negativity in me.
Because we dont know when.
But until that day still not yet come, i may not have to think so much negativity in me.
Because we dont know when.
If china decided to stop mining and segwit activated with payments not going to miners and through payment hubs instead. Mining would not be profitable and very few new blocks would be rewarded. Very few countries have electrical grids that can supply electricity at a price that would be profitable to 1.) start manufacturing asic chips 2.) setup new bitcoin mining operation 3.) Once running, not drown in electrical costs and forget upgrades. I think another coin would have to rise, but existing bitcoins might be able to survive albeit very slow.
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.
Correct, even china has a big contribution in mining of bitcoin still they not hold or can stop bitcoin to progress since now lot of countries are accepting bitcoin and i think all those country has own mining sites to produce bitcoin. 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 i think china can not blocked thr whole internet access in the whole world every country has own isp and not depending on china.
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 do you mean by the Chinese government blocking the internet access to the world and what implication does it have for bitcoin,do you think that because some of the big mining farms are running in China means that it will effect bitcoin, What can we do?
Do we have any availible plan to protect the great-BTC-chain?
if you are not aware of it ,bitcoin is not Chinese ,it is a global currency and no one can block 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?
Might surely decline the value temporarily but the king BTC will always live on and recover as adoption incrrases
I don't think Chinese governments will turn off internet, if they turn it off their technology will fall behind and their economic will be affected, if the Chinese government banned Bitcoin and the miner can't work from China then we still have a lot miners from all over the world
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 Chinese government will never turn off their internet, too much of their economy depends on it but assuming they did mining difficult would just decrease to whatever hashing power is available outside the country and bitcoin would survive fine. The price might crash a bit in the short term but it wouldn't ruin bitcoin's future.
That would certainly suck for the Chinese miners, but the rest of the world would pick up the slack, no doubt. And China is not the entire world, just as the US or any other country isn't.
I wouldn't worry about what any one government might potentially do until it's close to a certainty--and right now, I don't think OP's scenario is anywhere near that. So don't give up the faith just yet, eh?
I wouldn't worry about what any one government might potentially do until it's close to a certainty--and right now, I don't think OP's scenario is anywhere near that. So don't give up the faith just yet, eh?
If the chinese goverment blocked the Internet access to the whole world,
Did not understand what you mean here. If you think that one day those asians can block the internet to the whole world then you are crazy (and i'm curious about the details).If you mean that they can centralize bitcoin then such threat do not exist atm. To make it more realistic China still have to do huge investments (the more money invested by non-Chinease miners the more China should invest). If they will loose the internet access before getting majority imho we will only benefit from making bitcoin more decentralized.
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