Is the future of bitcoin dependent on India and China? - page 6.

bestvcc

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Quote from: Sithara007 on February 04, 2018, 12:14:03 AM

China and to some extent India are definitely two of the most important markets for Bitcoin. But that doesn't mean that Bitcoin is going to die without these markets. The two largest markets are Japan and the United States, and thankfully we are not facing any major issues with these markets right now. China and India are important, but they are some what disposable.

China in one hand talks about regulation meanwhile india has religious people in power who are backed up corporates ,so they will not support any development in science and technology

Sachubaba

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Quote from: stompix on February 01, 2018, 04:03:49 PM

And now India? Seriously? India?
One of the poorest country on earth, with half of their population unable to afford a regular non segwit tx is going to affect the price?
Let's be honest about it, at list China had Bitmain and mining farms, India has nothing.

Just look at one small thing: Number of bitcoin nodes in India 58. Number of nodes in Lithuania 81.

India will be 5th largest economy in the world very soon.

India's average wealth may be low, but collectively Indians are now a financial powerhouse. There is a lot of money moving around in India. Wink

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kerjakuat

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Quote from: pooya87 on February 03, 2018, 11:57:37 PM

Quote from: Grayy on February 01, 2018, 03:01:53 PM

Recent utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and
government decisions from these countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially bitcoin without these countries.

people have to start learning more about bitcoin and what it means to be a decentralized currency. if they do, they realize that a country "banning" bitcoin makes not much of a difference. it may slow down the process of adoption of bitcoin in that country but it won't stop it. not to mention the "ban" news is 90% of the times a big ass lie.

and i also disagree with saying it was fear recently. the price drop was more of an orchestrated attack. it was some manipulation of price to drop it hard and make a lot of money out of the process.

yeah.. im very agree with you there. we can see from the past when china banned icos. bitcoin are drop suddenly and what happen after that? bitcoin spike to very high ever it can anyone imagine. $20k per bitcoin. why is that. it call market manipulated by the whales. who want to buy it cheap. and who are loss. the weak hand will sell it. but the giant know how to played in trade. they didnt sell it instead they buying it more and sell it high. so try to learn it from there friends.

Sithara007

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China and to some extent India are definitely two of the most important markets for Bitcoin. But that doesn't mean that Bitcoin is going to die without these markets. The two largest markets are Japan and the United States, and thankfully we are not facing any major issues with these markets right now. China and India are important, but they are some what disposable.

pooya87

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Quote from: Grayy on February 01, 2018, 03:01:53 PM

Recent utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and
government decisions from these countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially bitcoin without these countries.

people have to start learning more about bitcoin and what it means to be a decentralized currency. if they do, they realize that a country "banning" bitcoin makes not much of a difference. it may slow down the process of adoption of bitcoin in that country but it won't stop it. not to mention the "ban" news is 90% of the times a big ass lie.

and i also disagree with saying it was fear recently. the price drop was more of an orchestrated attack. it was some manipulation of price to drop it hard and make a lot of money out of the process.

oppochain

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Quote from: Soke on February 01, 2018, 07:16:14 PM

The existence and future of Bitcoin does not lie in the hands of any one country.

Yes, the existence of bitcoin does not depend on any country, but it is possible for any country to influence it, much as Bitcoin has recently been affected by the ban on most governments.

Grayy

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Quote from: Soke on February 01, 2018, 07:16:14 PM

The existence and future of Bitcoin does not lie in the hands of any one country.

I believe bitcoin's existence doesn't depend on any one country. But consider this: why does banning of bitcoin make more waves and influence the markets in some countries more than others? In other jurisdictions banning bitcoin doesn't seem to affect the markets greatly

bicoin110

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No, if china and indea left BTC it will growth again

Soke

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The existence and future of Bitcoin does not lie in the hands of any one country.

sofi@

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If pertaining to the current price of bitcoin yes, China has great effects knowing that it has a large community in crypto currency market that will probably become idle if their ministers will prohibit exchanges and will not support bitcoin but if we are talking to the long term of bitcoin, my answer is not. Bitcoin will remain strong and independent and only it's value will matters

HasHe

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Quote from: stompix on February 01, 2018, 04:03:49 PM

I thought we were already pass the point of debating if China matters.
The price going up with all the FUD from China, with all their exchanges closing down have shown that the importance of China has vanished.

And now India? Seriously? India?
One of the poorest country on earth, with half of their population unable to afford a regular non segwit tx is going to affect the price?
Let's be honest about it, at list China had Bitmain and mining farms, India has nothing.

Just look at one small thing: Number of bitcoin nodes in India 58. Number of nodes in Lithuania 81.

Not India? Ha ha you guys always underestimate India to be a poor country. Do you guys know how much the corrupt Indian politicians and rich people have saved money in Swiss bank. India is definitely influencing the bitcoin price but behind the scenes.Most of the Indian people might be middle class but not India a poorer country. We must not forget that India is the second largest country in population and out of 120 crores, even 1%of the population would be 1.2 crores of bitcoin users.Hope this data would help you guys to get a better picture about India.

Rozita

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Cryptocurrencies ban news can affect the market in short-term. But for sure the market is not depend on the rules in a special country.
By the way, I don't think these countries ban bitcoin.

Grayy

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Quote from: stompix on February 01, 2018, 04:03:49 PM

I thought we were already pass the point of debating if China matters.
The price going up with all the FUD from China, with all their exchanges closing down have shown that the importance of China has vanished.

And now India? Seriously? India?
One of the poorest country on earth, with half of their population unable to afford a regular non segwit tx is going to affect the price?
Let's be honest about it, at list China had Bitmain and mining farms, India has nothing.

Just look at one small thing: Number of bitcoin nodes in India 58. Number of nodes in Lithuania 81.

Don't you think that their politial decisions and FUDs affect the whole of the cryptocurrency space to some significant extent ?

earl07

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Quote from: Grayy on February 01, 2018, 03:01:53 PM

Recent utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and
government decisions from these countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially bitcoin without these countries.

IMO,I think bitcoin do not depend on any government but its technology itself,and if it really depend of any of them,then why to be fret? india is not just the country with a high exchange of crypto currency.I read some news about panic selling,there are people that tends to sell than hold because of the continous slump of bitcoins price,which is not a wise idea.I bet Big whales will be laughing at the moment.

Quote from: ?? on ??

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I suggest not to post your refferals here mate,your jumping off from the topic.

Yakamoto

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Quote from: Grayy on February 01, 2018, 03:01:53 PM

Recent utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and
government decisions from these countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially bitcoin without these countries.

The way forward is to simply move on without them. There are too many people that rely too much on the news and information that comes out of China and India to determine their selling and buying points, and that's going to bite them in the ass constantly once there is a shift from those countries and back into the west. It doesn't even make sense in most cases.

There shouldn't be any dependency on these two countries in particular, but it seems like there's nothing that it's something we're going to have to live with despite what we want to happen.

Slow death

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Quote from: Grayy on February 01, 2018, 03:01:53 PM

Recent utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and
government decisions from these countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially bitcoin without these countries.

The problem is no longer if the country decided to ban bitcoin has a lot or few people who buy and sell bitcoin, if that country ban bitcoin then it is more likely that other countries will follow the same path and this is what many people are worried about , because india is in asia and if india ban bitcoin then other countries of asia could ban bitcoin

Quote from: aisyah88 on February 01, 2018, 04:24:10 PM

but why not for other countries to advance bitcoin in the future including the country that I live in now ..

create some bitcoin community in your country and spread the word and with this you will bring more people to this great community of bitcoin

Quote from: stompix on February 01, 2018, 04:03:49 PM

And now India? Seriously? India?
One of the poorest country on earth, with half of their population unable to afford a regular non segwit tx is going to affect the price?
Let's be honest about it, at list China had Bitmain and mining farms, India has nothing.

Just look at one small thing: Number of bitcoin nodes in India 58. Number of nodes in Lithuania 81.

The problem is that India is a country and being an Asian country to ban bitcoin may be a bad influence for other Asian countries, other Asian countries may follow the same path as India.

LFC_Bitcoin

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The long term future of bitcoin absolutely does not rely on India & China but short term India & or China banning or putting restrictions on bitcoin unfortunately will affect the price negatively.

adzino

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Quote from: Grayy on February 01, 2018, 03:01:53 PM

Recent utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and
government decisions from these countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially bitcoin without these countries.

Bitcoin is a global currency. It is not controlled by any specific area, country or region. The whole currency is decentralized so it is not dependent on few fixed countries like India or China. Rather lives by the support of people throughout the world.
Negative news will affect bitcoin, but those changes will be temporary.

burdagol12345

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Quote from: Grayy on February 01, 2018, 03:01:53 PM

Recent utterances from India's finance minister seem to have stricken fear in the entire cryptocurrency world. Utterances and
government decisions from these countries seem to have massive effects on cryptocurrencies. What's the way forward for cryptos, especially bitcoin without these countries.

Without these two countries bitcoin is still surviving and still growing,even though the crypto market price value will be affected due to less investor now due to happen in this two big country india and china.this massive effect of dumping price value in the market is only a temporary but i still believe that bitcoin will survive soon in the situation like this before to continue to moving forward towards its legacy.

TheySeeMeHodlingTheyHatin

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no ! bitcoin is decentralised and dont depend on any country or government

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