Is China a long term problem for Bitcoin?

roslinpl

legendary

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Quote from: BitOnyx on April 14, 2014, 08:59:05 AM

China as every growing country is great place to adapt crypto currencies. It were not a problem. False rumors were a problem

Maybe not as false as too much rumors!

PBoC is indeed making difficulties but people of China will use cryptocurrencies anyway

zolace

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Imagine we stop using western union, money gram, they go out of buiness china suppliers will have no choice but to accept bitcoin. Once the US economy goes with the program that can happen.

zolace

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China is not the only one the UK i very important and US to bitcoin we dont need china and Russia but if the others around them use bitcoins they ill be forced to adopt to it. Forced Adoption even if you like it or not.

BitOnyx

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Cryptocurrencies Exchange

China as every growing country is great place to adapt crypto currencies. It were not a problem. False rumors were a problem

RawDog

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Quote from: LostDutchman on April 11, 2014, 03:27:27 PM

"Is China a long term problem for Bitcoin?"
No.

Dutchman is a moron. Everyone knows that. We don't want your two cents.

Back to the topic. China is a short term problem. China is also a long term problem. It is a strange culture full of panic and crazy moves. Have you ever heard of a 'Chinese fire drill'? Chinese buying bitcoin is like that - only hotter. China can't act cool. It is a big problem.

Unless you like to make money off volatility. Then China is your friend in both directions. Buy some Bitcoin stratles. Buy a Put Option and a Call Option at the same time. Then, when it goes up or down - you make a killing. China is great for volatility.

Dutch people are a problem for both volatile and non-volatile markets. They are just a problem. Unless you want to smoke some dope and get some nice hookers. Then the Dutch will set you up big time.

See, I love everyone.

kokojie

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Quote from: Soros Shorts on April 13, 2014, 09:02:46 AM

Quote from: kokojie on April 10, 2014, 04:50:33 PM

Quote from: Bit_Happy on April 10, 2014, 03:05:28 PM

Quote from: whtchocla7e on April 10, 2014, 02:54:23 PM

Quote from: Bit_Happy on April 10, 2014, 02:46:46 PM

We do not need China at all for BTC growth.
Big VC $$$ is pouring into Bitcoin companies, and at this point China activity is no longer vital.
The market could recover quickly.

Wow, you're quiet an expert. China is only the largest economy in the world.

China is only the largest economy in the world.
No, the USA still is....Google it if you need more info.

No China is the largest, if we only counting industrial GDP. China has been #1 industrial GDP for a while now. US has a lot of garbage service sector GDP. For example, getting a basic haircut in China cost $1, while in the US cost $10. Service GDP are worthless.

The growth of Bitcoin is agnostic to the fact whether it is used for junk GDP or industrial GDP. The US GDP is $16 trillion and twice of China's. So what if BTC is used for tipping Chaturbate girls vs. buying raw materials for producing goods?

Service GDP is largely worthless because it produces nothing of value. For example, person A pays person B to eat shit for $1 billion, then B pays A to eat shit for $1 billion, they generated a total of $2 billion service GDP, while producing nothing of value.

Bit_Happy

legendary

Activity: 2114

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A Great Time to Start Something!

China is a large challenge, but not a long-term problem.
So far, China has been a net positive for BTC*.
*Not nearly as positive as it used to be.

xingqiaoyin

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Activity: 395

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Quote from: roslinpl on April 13, 2014, 01:55:50 PM

Quote from: xingqiaoyin on April 13, 2014, 12:41:40 PM

Is avoiding the most cutting edge payment system in the world a wise move for the worlds largest economy and capitalist ?

But you must understand

Decentralized money shows a middle finger to govs and banks Tongue

they do not like it Tongue

A payment system is a payment system.

As has been stated many times by our users here BTC remains the fastest and most efficient payment system compared to cashing in a check.

History has proven practicality always overcome government stance.
Monotheism is simpler to Polytheism and thus Christianity overcame Paganism.
And then for practical reason government decided to separate State and Church in Democracy.

Onar

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Activity: 172

Merit: 10

Quote from: sosulon on April 13, 2014, 10:11:40 AM

Quote from: bryant.coleman on April 13, 2014, 07:48:49 AM

Quote from: Kenshin on April 10, 2014, 06:35:28 PM

Yeah, I think bitcoin will do much better without China.

Bitcoin will definitely survive without China, but if China was on our side, then Bitcoin would have worked wonders. Remember, China is going to be the number.1 economy in the world within the next few years. And it is one of the fastest growing economies around the world. Now things will be much harder, without China and its rich billionaires.

But then again (not to generalize or stereotype) , china has a lot of hackers/scammers too ?

China has å lot of issues that will bubble to surface in the years to come, even it seems that gjete will and probably will Its not 100%.

Onar

member

Activity: 172

Merit: 10

Until recently china easy a closed market. And that china is closed for bitcoin is not å problem, maybe they affect the value some, so what? Unless you are trading the value is not ant concern, Its møre important with a prize that not fluctuates, If the price is 200 or 1000 usd is not å price, the price for glidd will adapted to the bitcoin value.

roslinpl

legendary

Activity: 2212

Merit: 1199

Quote from: xingqiaoyin on April 13, 2014, 12:41:40 PM

Is avoiding the most cutting edge payment system in the world a wise move for the worlds largest economy and capitalist ?

But you must understand

Decentralized money shows a middle finger to govs and banks Tongue

they do not like it Tongue

xingqiaoyin

sr. member

Activity: 395

Merit: 250

Is avoiding the most cutting edge payment system in the world a wise move for the worlds largest economy and capitalist ?

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: Soros Shorts on April 13, 2014, 09:02:46 AM

Quote from: kokojie on April 10, 2014, 04:50:33 PM

Quote from: Bit_Happy on April 10, 2014, 03:05:28 PM

Quote from: whtchocla7e on April 10, 2014, 02:54:23 PM

Quote from: Bit_Happy on April 10, 2014, 02:46:46 PM

We do not need China at all for BTC growth.
Big VC $$$ is pouring into Bitcoin companies, and at this point China activity is no longer vital.
The market could recover quickly.

Wow, you're quiet an expert. China is only the largest economy in the world.

China is only the largest economy in the world.
No, the USA still is....Google it if you need more info.

No China is the largest, if we only counting industrial GDP. China has been #1 industrial GDP for a while now. US has a lot of garbage service sector GDP. For example, getting a basic haircut in China cost $1, while in the US cost $10. Service GDP are worthless.

The growth of Bitcoin is agnostic to the fact whether it is used for junk GDP or industrial GDP. The US GDP is $16 trillion and twice of China's. So what if BTC is used for tipping Chaturbate girls vs. buying raw materials for producing goods?

You have a great point.
Hopefully it's used for both.

roslinpl

legendary

Activity: 2212

Merit: 1199

Q: "Is China a long term problem for Bitcoin?"

A: No

China will never stop trading bitcoin and they will figure it out for 100%.
We must show support! Do not forget about what a bitcoin is for you!

sosulon

sr. member

Activity: 274

Merit: 250

Quote from: bryant.coleman on April 13, 2014, 07:48:49 AM

Quote from: Kenshin on April 10, 2014, 06:35:28 PM

Yeah, I think bitcoin will do much better without China.

Bitcoin will definitely survive without China, but if China was on our side, then Bitcoin would have worked wonders. Remember, China is going to be the number.1 economy in the world within the next few years. And it is one of the fastest growing economies around the world. Now things will be much harder, without China and its rich billionaires.

But then again (not to generalize or stereotype) , china has a lot of hackers/scammers too ?

Soros Shorts

donator

Activity: 1617

Merit: 1012

Quote from: kokojie on April 10, 2014, 04:50:33 PM

Quote from: Bit_Happy on April 10, 2014, 03:05:28 PM

Quote from: whtchocla7e on April 10, 2014, 02:54:23 PM

Quote from: Bit_Happy on April 10, 2014, 02:46:46 PM

We do not need China at all for BTC growth.
Big VC $$$ is pouring into Bitcoin companies, and at this point China activity is no longer vital.
The market could recover quickly.

Wow, you're quiet an expert. China is only the largest economy in the world.

China is only the largest economy in the world.
No, the USA still is....Google it if you need more info.

No China is the largest, if we only counting industrial GDP. China has been #1 industrial GDP for a while now. US has a lot of garbage service sector GDP. For example, getting a basic haircut in China cost $1, while in the US cost $10. Service GDP are worthless.

The growth of Bitcoin is agnostic to the fact whether it is used for junk GDP or industrial GDP. The US GDP is $16 trillion and twice of China's. So what if BTC is used for tipping Chaturbate girls vs. buying raw materials for producing goods?

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: Kenshin on April 10, 2014, 06:35:28 PM

Yeah, I think bitcoin will do much better without China.

Bitcoin will definitely survive without China, but if China was on our side, then Bitcoin would have worked wonders. Remember, China is going to be the number.1 economy in the world within the next few years. And it is one of the fastest growing economies around the world. Now things will be much harder, without China and its rich billionaires.

rohan1

newbie

Activity: 40

Merit: 0

China exchanges make more than 50% turnover in all daily turnover, without China participation ,the bitcoin future will be harder,but still bright.

GodfatherBond

sr. member

Activity: 264

Merit: 250

Some high level officials just missed bitcoin train... whatever happens in short term (monday) BOC will change policy in long term in favour for Bitcoin. They'e innovative, just waiting for things to stabilize. China is not going to lose business.

LostDutchman

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Activity: 476

Merit: 250

"Is China a long term problem for Bitcoin?"

No.

Bitcoin and crypto in general is a long term problem for China.

My $.02.

Wink

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