China's influence on bitcoin is becoming insignificant. - page 3.

stompix

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Blackjack.fun

Quote from: Mpamaegbu on September 19, 2017, 12:08:51 PM

You are spot on OP. Yes the world now knows that China, though it has a tremendous economic power, can not put an end to the global use of Bitcoin as that attempt has shown.

When did China tried to put an end to global use of bitcoin?
They didn't even try to put an end on BTC usage in China let alone the world.

All they care is yuans getting transformed in BTC and running away in US and EU.
They don't care it is bitcoin or any other altcoin of it or other form of transferring money.
They want control over the finances in their country. They don't give a damn what the US or UK does with cryptos.

alva 666

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when you try to use bitcoin you must trust with it we see how fake news make many sell bitcoins and loss a lot so only trust with bitcoin

Kevin77

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Quote from: 1Referee on September 19, 2017, 05:52:11 PM

Quote from: panju1 on September 19, 2017, 03:59:15 PM

Who knows, if the Chinese government hadn't acted against Bitcoin, we could have seen $8000 or even more. The Chinese are the most populous nation on earth and you can't ignore them.

If China did this, or if China did that, then things would look like this or that - if has zero value. China is known for interrupting the growth of certain sites and services (doesn't just relate to crypto) by using their ban hammer. Bitcoin offers one, actually two, very important features; 1) It allows people to lock their wealth outside the reach of their government. 2) People can use Bitcoin to move their wealth from their country, to another one, and that in a matter of seconds. These two aspects of Bitcoin are what the Chinese government fears the most, and that's pretty well known in general.

You really do have a point there mate. It has been a norm for China to always try their best to want to manipulate everything but I guess they have been able to find out by now that trying to manipulate bitcoin isn't just going to work the way they want. I am in China today, if you ban bitcoin, I will definitely move to another country that accepts bitcoin. Moreover, it is not like they will wake up one day and just have a right over my wallet. After all, this is one of the value of bitcoin in the first place... having a currency that cannot be controlled or manipulated by any government or body.

vasrasus

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Bcnex - The Ultimate Blockchain Trading Platform

Quote from: Omega Weapon on September 21, 2017, 08:23:39 PM

Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

The influence of China is going down but this is because other countries are adopting bitcoin too, and the more hurdles the Chinese government creates for people to adopt bitcoin then the influence of Chinese investors is going to go down, then we need to remember that many other countries are also developing their mining technology so that is another field in which China is dominant, but that could change in the next 10 years.

Chinese investors will not take too long to find a way to invest again in cryptos, maybe Chinese Government is eyeing to have their own crypto that's why their banning it chinese is for businesses they will soon find their ways.

Omega Weapon

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Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

The influence of China is going down but this is because other countries are adopting bitcoin too, and the more hurdles the Chinese government creates for people to adopt bitcoin then the influence of Chinese investors is going to go down, then we need to remember that many other countries are also developing their mining technology so that is another field in which China is dominant, but that could change in the next 10 years.

audaciousbeing

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Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

I will want to disagree that the influence of China on bitcoin is insignificant because if a mere rumor like some people have argued could cause a damage that it does not seems recovery is in sight, I wonder what will happen if it's the news is being confirmed and spread across board.

Being insignificant would mean nonexistent but in this case no. Even with the good news from Japan, Philippines and a host of other countries could not do the magic of returning the lost confidence, it then points to how much influence the Chinese have on bitcoin which to me, is not in any where close to insignificant.

Until when we are fully away from this red zone, I can then admit that the influence is minute.

raiblock

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There are rumors they will ban mining. IF/WHEN they do that, it WILL be significant.

sempak

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it is not very significant but at the beginning of the announcement is indeed the impact of china big enough. in china rotation bitcoinya is 20% of the bitcoin circulation in the world

iram1011

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Bitcoin is decentralized and regulations free. Their is no center authority monitoring your activity. Thus rumour spreaders are just doing what can profit them. The problem lies with those dumb investors who without researching anything believe in such news and panic sell. If such people don't trust Bitcoin and its potential it's better they stay away. Whatever dump they brought in price will ultimately recover. But the crypto market don't need such investors for sure.

arseaboy

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Quote from: Iyeman on September 21, 2017, 05:12:22 AM

Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

The first thing is the decentralized and the second thing was the trick already repeated by the china makes me bored, Because they are attacking the crypto related companies in their country. But they already did it in 2013 till now. What's the difference?

yeah right seems that they are just trying to be notice and with their moves they really make some impact to those newbies who doesn't know and who didn't
tried to review some history of this action, china is just another portions of crypto world even without them crypto will move forward slowly but surely it will bring nice gains.

Xester

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Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

The issue of the Chinese government to ban bitcoin is just a hoax and just being used to create panic just like what you said. Panic that will let people sell their bitcoins thus, making its price goes down. That would be the time for investors to buy more shares or buy more bitcoins and then its price would goes up again. And let us admit it, even when Chinese banned bitcoin, its price goes down not really well, it is still high and many are still trusting bitcoins.

FrueGreads

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I wouldn't say it's influence is insignificant, but it's definitely getting weaker as they slowly continue these series of steps that no one really knows if it will end in a permanent ban on BTC, or just some sort of regulation. I think they are testing the waters, and see how the market and the rest of the world reacts. Their plans on creating a sovereign cryptocurrency seems to be legit right now, but it just can't compete with bitcoin because it's still centralized and can be inflated by desire.
Of course that if they do this, they will try to ban bitcoin mining, and that will probably have some temporary influence on the price. But I guess that the rest of the world is already getting prepared for that, as Japan, Hong Kong, South Korea and Russia are investing in BTC and BTC mining.
So whatever the decision from the Chinese government is, it will probably influence the price temporary, but it will pass, and BTC will only get stronger.

Iyeman

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Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

The first thing is the decentralized and the second thing was the trick already repeated by the china makes me bored, Because they are attacking the crypto related companies in their country. But they already did it in 2013 till now. What's the difference?

Kemarit

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Quote from: Pursuer on September 21, 2017, 03:56:16 AM

nobody can control what is decentralized.
and we as bitcoin users will keep it decentralized as long as we can or give up using it if someday it was no longer decentralized.

but to that day, no matter what the FUD says or what the governments actually do, it won't matter. they can not affect bitcoin in the long run. there will always be hard fluctuations in the short term with big swings from time to time because people panic easily but they always fade away and become a fun part of history.

right now I am laughing my ass off about lots of these FUDs throughout the years. like back when price was $400 and Mike Hearn called bitcoin a failed and soon to be dead thing and people panicked to $300 drop. I enjoyed their panic as much as today I am enjoying the new panic on 10x the same numbers.

I think by now we should already know that China is really rearing a war against bitcoin. Banning ICO, closing local exchanges and I'm sure the next target will be the bitcoin mining farm. But we already proven that bitcoin is not tied to anyone not even to China. The panic that they cause really shake the weak hands, specially newbies and amateur traders who are at lost at to what just transpired in the last 2 weeks or so. But if China wants to distance itself from bitcoin by shutting down all activities related to bitcoin, so be it. Maybe they think that bitcoin is the enemy and threat to them financially, we can't do anything about it. And now, we are all still standing and the market is still going strong despite China's getting out of the market. They are the sore losers here not bitcoin.

Pursuer

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Where is my ring of blades...

nobody can control what is decentralized.
and we as bitcoin users will keep it decentralized as long as we can or give up using it if someday it was no longer decentralized.

but to that day, no matter what the FUD says or what the governments actually do, it won't matter. they can not affect bitcoin in the long run. there will always be hard fluctuations in the short term with big swings from time to time because people panic easily but they always fade away and become a fun part of history.

right now I am laughing my ass off about lots of these FUDs throughout the years. like back when price was $400 and Mike Hearn called bitcoin a failed and soon to be dead thing and people panicked to $300 drop. I enjoyed their panic as much as today I am enjoying the new panic on 10x the same numbers.

jseverson

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Quote from: player514 on September 19, 2017, 11:33:18 AM

Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

I especially find it very funny how news works, especially when it comes to bitcoin. It's a very common trend to see this exact path of news articles:

1) When bitcoin drops, the negatives of bitcoin is highlighted in articles. More articles come out saying that bitcoin is in a bubble, that it's going to fail, and that it's worth nothing. These types of articles are highlighted even though people say this stuff all the time, regardless of how bitcoin is doing.

2) When bitcoin goes up, there are articles that talk about how it's the future and how blockchain technology can change the world, etc.

News companies are so confused by BTC's volatility that they just can't stick to one side of supporting or opposing it.

That can be summed up in one word: sensationalism. What they're saying isn't necessarily incorrect, because most pieces on Bitcoins are speculative in nature. They can't sell boring stuff though, so they have to exaggerate a tiny (a lot lol) bit.

Bitcoins are hard for entities such as China because it was designed to be anonymous and decentralized. These same entities, however, can still manipulate Bitcoin to an extent because of its dependence in public perception. Bitcoin value is entirely up to the users and their demand, so negative press can send it crashing. No system is perfect, I guess.

untugede

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now it's a lot of people who want to destabilize the bitcoin strength that exists today.
they do it so that people who wear bitcoin feel panicked and sell mass.
a lot of people like that but we can not immediately believe the issue.
if we believe in issues that are not yet clear the truth will certainly harm ourselves

Kemarit

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Quote from: omonuyak on September 19, 2017, 11:19:29 AM

Chinese government has been making moves to control the influence of bitcoin on its economy but bitcoin keep rearing on international market. I think the decentralized system of bitcoin make it impossible for any government to binned its activities. We should also know that the fake news site are just promoting lie in other to create panic in other for amateurs traders to sell at lose and blame China regulatory agency for their woo.

Just shows the bitcoin is really uncontrollable by anyone. Just imagine China, who has so much influence on the market has little effect now as time goes by. Initially it cause a lot of nervousness amongst us, but we have crossed that barrier already and now the price has recovered by all the shenanigans coming from them. Just so sad that they are the movers of crypto's, however their Government has perceived its bad effect to their economy that's why they made their move to somewhat limit its influenced on their citizens. Let's see about mining then. They will target it as well but Japan and other countries will just take over and it will be good that it will be distributed in a global scale and not just monopolized by the Chinese.

Jake052478

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I will do wonder for YOU!!!

Maybe because their share in cryptocurrency is just 10 - 15 %... IF you remove them, that percentage can easily be patched-up. So come to think of it. Every moment, more and more countries are adopting the cryptocurrency because it is the trend nowadays... It is just like social media... When social media was introduced, mixed emotions were felt, some were excited, some were afraid because of the "PRIVACY" thing. Now that many people/countries are accepting or using it... CHINA will eventually succumb to the trend. I bet not for long, they will start to use this currency again....

xuan87

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Like it or not china still got influence in crypto currencies world, most of the mining is coming from that country and there are a lot of investor coming from China, but bitcoin will still alive without china, there will be a set back but in the end we will survive

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