Is China a long term problem for Bitcoin? - page 3.

atp1916

legendary

Activity: 854

Merit: 1000

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.

Correct.

No heavy hitter in his/her right mind is going to buy/invest to get dumped on. This is why there is no serious buy support.

China ain't Wall Street - no bailout for them.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

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.

atp1916

legendary

Activity: 854

Merit: 1000

Why do people think China has all the world's $$$?

Bitcoin doesn't need China and its speculators.

Carry on.

DrBitcoin

sr. member

Activity: 350

Merit: 294

For starters, I just bought some Bitcoin at $390. My gut says it is going lower though, but this is NOT a speculation thread. My question is regarding China.

It's clear that right now, Bitcoin's price is being slammed because all of the rulings coming out of China. These days, so goes China...so goes the world economy. We need China's money in Bitcoin to keep the price per coin up and make it palatable to the world economy.

So if China hasn't outright banned Bitcoin, will it be possible in the next few months or years for Chinese money to flow into the system despite a ban on Chinese exchanges and businesses accepting Bitcoin. Can the Chinese people find alternative ways to invest their money in Bitcoins? Will they?

My hope is that as businesses begin to adopt Bitcoin as a form of payment, China will eventually reverse some of its strict rulings. Perhaps a change in their government, or just a change in public perception. But this is a big what if.

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