Topic: Is it better that China just gets out of Bitcoin? - page 3. (Read 3019 times)
yes china has ruined the market from the rumors they are launching. I still do not believe in chinese rumors. I still ask, what is the motive behind the rumors. and it turns bitcoin down every day.
blah blah blah
China has been in/out of Bitcoin for 9 years. FUD 
I can't think of anything constructive or beneficial that China has brought to Bitcoin. There are no developers, the zero fee exchanges fucked Bitcoin for years and the mining situation has fucked it even harder in terms of spiritual corruption.
At the same time a proper ban would be a very useful case study in proving how impossible it is. I approve of China banning its arse off because of this.
Nevertheless, this whole situation greatly affects today's price for Bitcoin. I very much hope that this trend will not last long and we will be able to cope well without China. But I do not understand how things will go further, if most of the control over Bitcoin was just behind China.At the same time a proper ban would be a very useful case study in proving how impossible it is. I approve of China banning its arse off because of this.
On the long run we will need China. China represents 18% of population and their economic power is growing so it would be a pitty if they don't take part in crypto. They have a lot of money to invest.
However, China has caused some big problems and crashed bitcoin price several times so at this moment, it might be better if they step out of the game and come back when their government decides whether they will ban crypto all together or they will allow it and stop interfering.
However, China has caused some big problems and crashed bitcoin price several times so at this moment, it might be better if they step out of the game and come back when their government decides whether they will ban crypto all together or they will allow it and stop interfering.
China makes unsightly rumors, and it affects the bitcoin value, almost everyone involved with bitcoin fret with chinese.
what is chinese really thinking? I think there is a scenario behind this.
I don't think it's better for crypto world. China is the biggest bitcoin holder on the world. Certainly they are a big part of cryptocurrencies prosperity.
I think China wants them to regulate them because of the increasing amount of bitcoin. If the government dont hold any regulations for the exchangers, the government will be left behind by this technology and later they will eventually use it for the development. They are just a portion of the market and i hope theres a lot more country that will participate in the future
China has a huge population.
China has extremely tight rules on its currency.
Up to this point there has been a huge interest in crypto currency from chinese people, but with these moves to ban ICO and close exchanges it will mean a period of uncertainty for cryptocurrencies. This will reflect in lower prices and slower mining (until difficulties readjust for the departure of the huge chinese mining activities).
However, this will only be temporary. They cannot kill cryptocurrency, and they will realise their error when they throw away such a dominant position in the future of the way that finance activities are conducted. It just gives Russia, the US and Europe the chance to catch up.
China has extremely tight rules on its currency.
Up to this point there has been a huge interest in crypto currency from chinese people, but with these moves to ban ICO and close exchanges it will mean a period of uncertainty for cryptocurrencies. This will reflect in lower prices and slower mining (until difficulties readjust for the departure of the huge chinese mining activities).
However, this will only be temporary. They cannot kill cryptocurrency, and they will realise their error when they throw away such a dominant position in the future of the way that finance activities are conducted. It just gives Russia, the US and Europe the chance to catch up.
I don't think so, it is not wise that we blame all the Chinese people. I believe only a certain number of people are gambling with Bitcoin. they are taking the privilege because of having a major portion of Bitcoin. so they can do now and on this type of activity regarding the price of bitcoin. but leaving Chinese people from Bitcoin platform is not a solution for me...
That's unfortunate, and the only ones who were going to lose would be China itself, for giving up such a profitable market.
the government isnt getting anything from it and thats they problem.
That's unfortunate, and the only ones who were going to lose would be China itself, for giving up such a profitable market.
I am having mixed opinions on this at one point I do wish China gets over Bitcoin and we all have peace, no more after effectes, no need to worry about the dragon burning fire on bitcoins, but then again a counter view is that China is a huge Market and we just can't let this go off suddenly, there will be heavy casualties if this happens, the electricity rates, the mining industry we don't have any other country to step up and till then we sadly need Chinese help.
If Chinese mining stopped tomorrow we'd have a period when BTC was painfully slow and then the difficulty would readjust to allow non Chinese miners to take up the slack. There are plenty out there. Bitfury had over 20% of the hash rate at one point and they're nowhere near China.
If the Chinese miners are taken out, then the hash rate can drop by a large amount, and for the remaining miners it will be a very profitable business. But I don't think that the Chinese government is that stupid to close down the mining farms. It can end the Chinese dominance in the mining sector.
we are all surprised by the increasingly skewed bitcoin value.
and about the Chinese ban, it is the authority of a country. if they do not want to get involved with bitcoin. it is their people who are the losers. not us.
China comes out of bitcoin only if it helps Russia catch up. It is not known for whom this is better.
i don't think it is better because china is the greatest market of the world and if they stay and accept bitcoin i think bitcoin will rise to $10k every week and that is something big for china and
also for every other cryptocurrency.
also for every other cryptocurrency.
China can start their own legalized crypto currency. It does not have to be bitcoin.
no that will be really bad for bitcoin i have seen most investors in bitcoin are china if china get's out of bitcoin the price will crash and the network will also die soon i think as china mine most of the bitcoin if they are out we need a alternative which i don't see any currently
I am having mixed opinions on this at one point I do wish China gets over Bitcoin and we all have peace, no more after effectes, no need to worry about the dragon burning fire on bitcoins, but then again a counter view is that China is a huge Market and we just can't let this go off suddenly, there will be heavy casualties if this happens, the electricity rates, the mining industry we don't have any other country to step up and till then we sadly need Chinese help.
If Chinese mining stopped tomorrow we'd have a period when BTC was painfully slow and then the difficulty would readjust to allow non Chinese miners to take up the slack. There are plenty out there. Bitfury had over 20% of the hash rate at one point and they're nowhere near China.
Bitcoin was sailing along nicely yesterday and apart from the usual technical issues that accompany Bitcoin and other alts there was generally a positive outlook for Bitcoin. Suddenly the markets went crazy when the rumors came out that China would ban Exchanges from trading in Bitcoin. Personally I am getting fed up with China news having such a big influence on Bitcoin. Nobody knows now for the next few days now what is likely to happen and whether Bitcoin will fall hard should this rumor turn out to be true. What will be the result? - a significant fall followed by longer term stability perhaps. Either way we can't keep having this uncertainty if Bitcoin is going to get acceptance in the general community.
I am having mixed opinions on this at one point I do wish China gets over Bitcoin and we all have peace, no more after effectes, no need to worry about the dragon burning fire on bitcoins, but then again a counter view is that China is a huge Market and we just can't let this go off suddenly, there will be heavy casualties if this happens, the electricity rates, the mining industry we don't have any other country to step up and till then we sadly need Chinese help.
Negative news from China are playing a bad role for bitcoin's price. Meanwhile there are some positive news from Switzerland and Ukraine about bitcoin acceptance. But China is so big and important to all bitcoin community, that positive news stay without any reaction.
That is not going to be the end for bitcoin if China will get out of bitcoin, but I suppose it is going to be a big step down for bitcoin and we may come back to the prices of the last year! I hope news about banning of exchangers will apper just as a game of speculators and when it will be uncover the price will continue it's raise.
That is not going to be the end for bitcoin if China will get out of bitcoin, but I suppose it is going to be a big step down for bitcoin and we may come back to the prices of the last year! I hope news about banning of exchangers will apper just as a game of speculators and when it will be uncover the price will continue it's raise.
Letting imagination fly a bit, it is possible that chinese government spread the rumor to get his hands on cheaper bitcoin. Then rumors show to be fake and it goes up again...
But I think Bitcoin needs China, and Russia, and all countries (kumbaya! lol). The more spread the better. Even if China has too much control now, it is not likely to retain it as it goes more mainstream.
But I think Bitcoin needs China, and Russia, and all countries (kumbaya! lol). The more spread the better. Even if China has too much control now, it is not likely to retain it as it goes more mainstream.
Jump to: