Topic: China can destroy bitcoin - page 3. (Read 3605 times)
China has the largest bitcoin mining this alone make china a huge bitcoin involved country. Although there are some sort of cryptocurrency related ban in the country china seems to be involved in cryptocurrency. But I don't think china can destroy bitcoin
Very interesting.In what way exactly?China generally raises a lot of questions)But as far as I understand,they are trying to put a ban on cryptocurrency.Not know why they need this of course.But maybe that's the answer.I know for sure that they have put a whole city for Bitcoin mining and spend just a huge amount of energy for their production.And it is not bad to earn some money.Interesting further fate of this state in the crypto market after the ban.
it can't, China is only a small part of this world. China is not a ruling country and has control of the world economy even though their population is large and their country's economy is strong, so don't think that China can destroy Bitcoin..
Bitcoin is worldwide popular online currency till now. In this time around 50 countries using bitcoin in different sectors. So I think just one country will can't destroy bitcoin, it is not possible. Bitcoin will destroy, this thinking is wrong. We hope bitcoin will stay forever in world online market.
China will not be easy to do that, even though now China is in a strategic position for crypto, but to destroy bitcoin I don't think it can happen easily because the potential of bitcoin will still grow well and become popular among the people.
No one can stop bitcoin because it is already established its name and it can never be stopped by someone or some country whatever reasons it maybe, and it will never be gone for sure. People need it nowadays.
the best way possible, superpower countries should be able to limit the scope of the roof indirectly China monopolize the world economy, which is not good for bitcoin, so it is very vital risk. I hope my hope is that China will become aware of their power, and can provide an opportunity for Bitcoin to run normally and develop for the benefit of the world community.
I think no country can break Bitcoin, including China. Bitcoin has dominated most of the crypto market and last year China implemented a policy prohibit BTC. However, BTC price increase significantly.
Having a look at the influence of China over Bitcoin’s infrastructure, the Chinese government has potentially the ability to destroy Bitcoin.
Currently over 80% of Bitcoin mining is performed by six mining pools, and five of those six pools are managed by individuals or organisations located in China.
Four different ways how the Chinese Gov can influence Bitcoin: disrupt competing miners, undermine consensus and destabilise Bitcoin, de-anonymisation, and censorship. and We know how China is heavily controlled by the government.
So potentially Yes, BUT would they do that?
Have a look at this article, where Chinese Arbitrator Reaffirms That Bitcoin Can Be Held, Privately Transferred as Property:
https://cointelegraph.com/news/chinese-arbitrator-reaffirms-that-bitcoin-can-be-held-privately-transferred-as-property
Currently over 80% of Bitcoin mining is performed by six mining pools, and five of those six pools are managed by individuals or organisations located in China.
Four different ways how the Chinese Gov can influence Bitcoin: disrupt competing miners, undermine consensus and destabilise Bitcoin, de-anonymisation, and censorship. and We know how China is heavily controlled by the government.
So potentially Yes, BUT would they do that?
Have a look at this article, where Chinese Arbitrator Reaffirms That Bitcoin Can Be Held, Privately Transferred as Property:
https://cointelegraph.com/news/chinese-arbitrator-reaffirms-that-bitcoin-can-be-held-privately-transferred-as-property
No that wont happen. If china owns bitcoin then I guess it is only a percentage on it. Maybe it could even barely move the bitcoin market price if all of them woulf sell their bitcoin. I am positive that other nations had more contribution of bitcoin than china.
Perhaps, this is only a FUD to create the relevance of china's participation. They were thinking that a great nation China should be given a good treatment for bitcoin which will relatively Chinese government should not likely to. be like this. Well that is only a guess but if there are some reason for this and whatever it is it could not affect bitcoin.
Perhaps, this is only a FUD to create the relevance of china's participation. They were thinking that a great nation China should be given a good treatment for bitcoin which will relatively Chinese government should not likely to. be like this. Well that is only a guess but if there are some reason for this and whatever it is it could not affect bitcoin.
It is possible that China has a great impact on bitcoins but not to the extent that it can be destroyed, and if bitcoin is destroyed, they are also the ones who suffer the most.
I know that bitcoin users are very large and Chinese government policies like some time ago greatly affected to the market. but doesn't mean that bitcoin will be destroyed because of China right? You're right, bitcoin users aren't just China, so naturally Bitcoin will still survive even though China does certain things 
This is somehow a threat to the world of cryptos. We can see that China is already have their invasion in different products even they imitate it, still they are not govern by the law of production and imitation. I am not against China but if they keep in doing the illegal ways they will invade the world of cryptos and will try to eliminate bitcoin in exchange of their own coins. This is just my own opinion, i am not saying this will be happening in the future but i hope there will still a way to unite everyone.
When thinking about killing bitcoins, only governments that do not accept bitcoins are capable. Since they do not destroy the importance of bitcoin, they just think bitcoin is a scammer. As for China, we see that most of the miners are there and they understand the importance of bitcoins, then do they destroy it?
I think no one can destroy bitcoin any more.Because bitcoin is a online currency and It's not controll by any parson or any country .If any country want to bann bitcoin in there country,they don't stop it any more.People will find the new way to use bitcoin.If goverment stop there internet also,that's way they don't do it.So i think china can,t destroy it .Bitcoin will more increable day by day in the world,thank you.
I dont think China country can destroy Bitcoin because as a matter of fact cryptocurrency like bitcoin can give to some people a good benefits if it is righty manipulated in a right way of investment. Nobody's thinking to destroy an industry if this will give a good benefits to everyone's who believed. Because cryptocurrency like bitcoin is an opportunity to everybody's who believed for a succeesful life that they want to be, because bitcoin in general is for a bright and a progressive future in life.
Bitcoin is decentralize currency but we have to keep in mind that China is a country with powerful economy as well as large number of trading through bitcoin done in this nation. So,in a nutshell it actually effect the bitcoin share market because the impact of china has greater influence on bitcoin and other crypto currency.
i think it can, bitcoin miner almost stay in china, they can use this to attack 51% and they can hack bitcoin like the attack 51% in near time.
i'm quitely worry about this.
i'm quitely worry about this.
I don't think they can destroy Bitcoin, because blockchain technology now is here to stay, with or without Bitcoin, but they have a plethora of altcoins now that they are backing up and pushing out, so they will always promote their own and as long as they are making a shit ton of money from Bitcoin and controlling one big aspect of it, that's the mining, they will help to keep the feast running and the table full of goodies. They know very well how to make money form everything. Bitcoin also has caused an economic war, just like the trade war and people will want to have power over it as much as possible in the economic battles for world dominance.
very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
there are many opinions that claim to destroy bitcoin. this has been a long discussion and debate, even quantum technology is claimed to be able to unlock the private bitcoin wallet. but again, until now bitcoin remains safe from hacking or destruction
yes, china can destroy bitcoin but not the whole system. They destroy any crypto but they can only do it on their own country like what they did to other investments. China is a very powerful country controlled by the government and destroying what they want depends on the matter if it's bad for their people or not.
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