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Topic: Does China have a large part in the world of cryptocurrency? - page 4. (Read 2011 times)

full member
Activity: 406
Merit: 100
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?



I think you certainly have more experience for this.
but telling me and my friends.
this becomes a debate among bitcoin / alcoin holders.
quite interestingly researched step of china country forbid ico.
but I'm sure it's just a matter of licensing and avoiding the many scams of ico backgrounds.
I think for the future China will give you a strict and rusty permit.
full member
Activity: 644
Merit: 103
A large portion of miners are in china which is why they are very influential in the crypto world. And now that they have banned ICO's I'm pretty sure it would have a major effect in bitcoin's price.
full member
Activity: 350
Merit: 100
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?



Hate to admit it but we got to be honest with the fact that china is a pretty big country with a lot of population. And has cheap man power pays plus cheap electricity and a whole lot of cheap things that any miner would need. This alone would mean alot pf people there are choosing mining over anything and that would be enough reason that it can affect a lot on not just bitcoin but the whole crypto currency world.
sr. member
Activity: 504
Merit: 250
China is one of the influential countries, both economics including cryptocurrency. reasonable if the Chinese government issued a policy, it will have an impact on the value of cryptocurrency. we hope all of this does not adversely affect the development of crypto.
legendary
Activity: 3906
Merit: 6249
Decentralization Maximalist
There are multiple indicators that must be taken into account:
- mining: here China is definitively the top player, due to low electricity costs
- exchanges: as gentlemand already said, the widespread opinion that "Chinese exchanges are dominant" was falsified when they were forced to introduce fees. They're still a major player in this field, but have not really more market share than their share of world population.
- nodes / usage: Bitnodes says there are about ~560 Chinese nodes (~6% of all). That is #4 in the world. Smaller countries like the US, Germany and France have significantly more nodes. Again here: they have approximately the share one would expect for such a large country with a slightly sub-average GDP per capita.
- development: here Chinese developers, as far as I know, have a sub-average participation.

So my conclusion is that only in mining Chinese businesses are dominant. As mining is an important factor for Bitcoin's security, I would definitively consider it a major "crypto power", but in most aspects it's not dominant at all. It's simply a large country with low electricity costs.

Data from incoming ICO traffic and funnel participation have them as a top participant in most of the sales I've heard of.

That would be interesting. Can you point me to sources?

full member
Activity: 630
Merit: 100
They have a lot of miners, traders and some investors so I say yes they made a large part in the world of crypto currency and for some reason whenever something happen in China it also affect some part of crypto currency.
newbie
Activity: 33
Merit: 0
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?


I think they should have done it a long time ago, most of the ICOs are frauds or scammer schemes.

This does not affect Bitcoin, it just fixes.
sr. member
Activity: 364
Merit: 250
Yes, China gives big contributions to cryptocurrency. The market mostly affected whenever something happened in China.
legendary
Activity: 1904
Merit: 1074
Correct me if I'm wrong, China is the strongest country for the bitcoin trade and bitcoin mining. They have great companies that are mining bitcoin in industrial scale. Their markets has crazy trade volumes both for bitcoin and ether.

Their decissions are game changer.

The United States, Germany, China and Japan are the world's largest importers and consequently the world's largest

economies. IF they stop importing any of the commodities they used to import, it can break that countries economic sector.

China is one of the major players/influencers in the world, so it is logical that their political decisions will have a impact. The

only difference is, China is not the only user of bitcoins and it is being used globally. If they ban it, it will cause a major

collapse, but it will not die.  Smiley
full member
Activity: 760
Merit: 109
PredX - AI-Powered Prediction Market
Obviously there is no doubt that china have a large part in the world of cryptocurrency and plays a vital role of  Pumping or dumping of any cryptocurrency as like bitcoin. I think That's why when china banned  all ICO activities, and instantly the bitcoin price went down. But i also think that its a great chance to investment with bitcoin cause i believe  that the price of bitcoin would be raised soon...
sr. member
Activity: 1022
Merit: 280
Correct me if I'm wrong, China is the strongest country for the bitcoin trade and bitcoin mining. They have great companies that are mining bitcoin in industrial scale. Their markets has crazy trade volumes both for bitcoin and ether.

Their decissions are game changer.

No one can deny the fact that China is a super power in bitcoins but i still dont get the Chinese government decision of banning the ICO ?? What will they gain by banning the ICO and more importantly since ICO can be run online anonymously will they ever be able to make people obey they new rule ?
full member
Activity: 182
Merit: 100
China is one of the mining center of bitcoin and ether also other coins. I believe that about 90% of trading are happening on them. There decision in banning ICO have a large impact in the world of crypto also there actions and decisions are game changer but dont let us all fool about it remember we still have a brain. Russia is one called as the brain of blockchain.
legendary
Activity: 1694
Merit: 1003
Chinese traders are well known to be a great player when it come to trading whether its an asset/shares and crypto currency, they often do lead the pack. considering that large bitcoin mining facilities are in china, and mostly ICO buyers are chinese investors we might see a decline in ICO popularity as well as funds raised for the project, but they can always invest in an ICO that are not base in china
full member
Activity: 378
Merit: 100
Since the China ban of ICO, it is no surprise to see the cryptocurrencies drop. This gives more a chance to invest though and I expect the prices to rise again in due time.
full member
Activity: 231
Merit: 100
Presale is live!
Yes China have a large part of cryptocurrency as we all know they biggest mining industry is in there and most of the investors are from China too that is why when the news about banning the ICO came out all crypto went down.
hero member
Activity: 1708
Merit: 606
Buy The F*cking Dip
If we're gonna take a look at the trading volume of BTC in proportion with its geographic location, we can see that huge part of it comes from China. Heck, we can even say that most of the whale traders in crypto are in China. The flow of money that they provide to cryptoworld is so huge that any movement they make will strongly affect the price of BTC. They also monopolize the production of hardware miners for BTC. With these factors, it is very safe to say that they have a large part of pie in the world of crypto.
hero member
Activity: 658
Merit: 505
China has big influence on bitcoin and the last dump has shown that but not that big to crush the bitcoin like some say. So not such big importance should be given to chinese government and this whole situation is exaggerated which causes the panic selling by some users which is totaly not necessary. Don't panic and hold your bitcoins.
MV7
full member
Activity: 322
Merit: 107
WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN
It's one of the biggest mining countries in the world. I think China mines somewhere around 30% of bitcoins in the world.
hero member
Activity: 1190
Merit: 525
CryptoTalk.Org - Get Paid for every Post!
Yes, otherwise, how could they be buying Brazil as they are doing now?  Grin
full member
Activity: 791
Merit: 139
china is one of the source of investors and they have  a brilliant mind in business and their strategies are really wining in come to business and development.. thats why china is around anywhere on the globe.. the abandonment of china in CRYPTO ICO is really a big impact for the dump of coins this past few days and it is really a problem for all the ICOs and investors .. i hope this will not continue as the korea send message  like thjis too
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