Then there will be a big LAN in Asia without physical connections to the outside Internet, Resulting in another small Internet emerging.
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
First of all this will never happen. What will happen to transnational corporations if they can't even establish connections to the outside world? It wouldn't make sense, otherwise the entire Chinese economy will shut down as corporations either shut down or relocate overseas.
Even if it happens, worst case scenario we lose all hashpower from China, which is actually a good thing. It keeps the network decentralized. I'm sure even if it does happen, there will be ways around it to use bitcoin.
Topic: What will happen to Bitcoin if China shuts all physical Internet cables. (Read 875 times)
October 29, 2017, 07:06:05 AM
October 18, 2017, 10:20:42 AM
Bitcoin would not be an opportunity for you to create massive wealth. As long as the blockchain technology has no fatal flaws then it is a good possibility that the blockchain concept will be used for digital monetary transactions now and in the future.There is only one Bitcoin. So if you consider being born 100 years ago or 100 years from now I am sure that 100 years from now we will have more advanced types of cryptocurrencies.
October 08, 2017, 06:21:06 PM
Now it is impossible without the Internet. If the Chinese government shut off Internet access then China's economy will stop. In our time without the Internet is impossible. In addition to Internet access do not have to physically connect to the cables. Enough to have a satellite dish. I think the Chinese government will try to get the most from cryptocurrencies. It does not need to ban them.
Doing such things will give them huge loss and all the business who are running in china that will automatically shut down and china will come to zero in no moment and they will not this because they take seriously to the technology and doing this will make them a retard and loss to their economy will not be negotiable as they are also suffering from the bitcoin loss. 
October 07, 2017, 05:05:05 PM
Then there will be a big LAN in Asia without physical connections to the outside Internet, Resulting in another small Internet emerging.
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
'harshpowers' I lol'ed with this one.
It is only a conspiracy but everything is possible though. If China will ever do that kind of thing to its citizens then they are also like killing them, China already profiting big time in mining so why in the world would they do that. It is just a pure FUD for me that people really bite in. If China will do the two Bitcoin systems that can't transact to each other then what is the point of that, it seems that they are making their own kind of national Bitcoin money if they really do it.
October 07, 2017, 05:02:57 PM
Then there will be a big LAN in Asia without physical connections to the outside Internet, Resulting in another small Internet emerging.
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
If China just decided to close down all outside access to the internet by severing the connection through the cables (somehow), there are going to be a lot bigger issues for the people of China (essentially everyone from the dude who uses a PC once a year, or month, whatever, to the highest echelons of Chinese society. There would likely not be any sort of secondary blockchain involved because there would be too many issues within the borders of China, they would at best start a blockchain after a long period of stability post-cut. People would be more worried about actually feeding themselves.And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
October 07, 2017, 02:38:23 PM
Bitcoin wouldn't die, it isn't entirely dependent on a single country to begin with. Although we can't deny that the support of china is needed for the growth of bitcoin as there are many miners and investors there.
October 07, 2017, 01:42:57 PM
Then there will be a big LAN in Asia without physical connections to the outside Internet, Resulting in another small Internet emerging.
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
If China just decided to close down all outside access to the internet by severing the connection through the cables (somehow), there are going to be a lot bigger issues for the people of China (essentially everyone from the dude who uses a PC once a year, or month, whatever, to the highest echelons of Chinese society. There would likely not be any sort of secondary blockchain involved because there would be too many issues within the borders of China, they would at best start a blockchain after a long period of stability post-cut. People would be more worried about actually feeding themselves.And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
That's why it will never happen. Nowadays many deals are being struck in the Internet. People are applying for jobs, dating, working from home when they're feeling bad. That's just the tip of the iceberg. Stock exchange uses the internet, military personnel uses it. If they cut all the lines people would become confused, some of them unable to perform their daily tasks. This would end up with the country becoming paralyzed and companies losing billions.
October 07, 2017, 11:43:07 AM
Then there will be a big LAN in Asia without physical connections to the outside Internet.
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Bitcoin will be dead and otherwise unusable to anyone within Chinese territory. China is very skilled at censorship. The only way to sell your coins would be to physically leave China if there was to be a complete firewall ban.
This is the most realistic. Fortunately, china is getting smaller in Bitco.
It may feel but not hard. Is there anyone here living in China? He should speak.
October 07, 2017, 11:06:08 AM
Then there will be a big LAN in Asia without physical connections to the outside Internet, Resulting in another small Internet emerging.
And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
If China just decided to close down all outside access to the internet by severing the connection through the cables (somehow), there are going to be a lot bigger issues for the people of China (essentially everyone from the dude who uses a PC once a year, or month, whatever, to the highest echelons of Chinese society. There would likely not be any sort of secondary blockchain involved because there would be too many issues within the borders of China, they would at best start a blockchain after a long period of stability post-cut. People would be more worried about actually feeding themselves. And we know there are large harshpowers in China.
Then what will happen to Bitcoin?
Will there be two Bitcoin systems co-existing?
October 07, 2017, 10:57:49 AM
China government's ban on cryptocurrency exchanges is representing a plain threat to bitcoin.
Since a large amount of hash power provided by miners arrives from china and such regulation would reduce hash power.
What will happen to bitcoin if china shuts all sources of cryptocurrencies, we see people fall under pressure and start selling bitcoins but this act can't kill bitcoin anyways.
Since a large amount of hash power provided by miners arrives from china and such regulation would reduce hash power.
What will happen to bitcoin if china shuts all sources of cryptocurrencies, we see people fall under pressure and start selling bitcoins but this act can't kill bitcoin anyways.
I agree with you.
but there is always a way though the authority of China has blocked the internet network. depending on one's technique. I think they will take steps to always open access
Given the facts that you stated, it is certainly a major threat to the price of bitcoins and should that happen, expect prices to decrease on a dramatic scale depending on the damage. Despite China being one of the major influencers of bitcoin due to the sheer volume of miners, one country alone cannot erase bitcoin's existence because there are a lot of countries who continuously support its utilization and maximization. Lastly, should China shut their all physical connections to the world, then bitcoin would be the least that I would think of due to the country being the top exporters of products around the world. This would lead to chaos in the market and as well as to the economy.
October 07, 2017, 10:31:50 AM
China government's ban on cryptocurrency exchanges is representing a plain threat to bitcoin.
Since a large amount of hash power provided by miners arrives from china and such regulation would reduce hash power.
What will happen to bitcoin if china shuts all sources of cryptocurrencies, we see people fall under pressure and start selling bitcoins but this act can't kill bitcoin anyways.
Since a large amount of hash power provided by miners arrives from china and such regulation would reduce hash power.
What will happen to bitcoin if china shuts all sources of cryptocurrencies, we see people fall under pressure and start selling bitcoins but this act can't kill bitcoin anyways.
I agree with you.
but there is always a way though the authority of China has blocked the internet network. depending on one's technique. I think they will take steps to always open access
October 07, 2017, 09:44:34 AM
I think it would ultimately be a good thing for Bitcoin so it can grow with out the constant Chinese drama manipulating price every other day. Also I think it would be great if they shutdown those big Chinese mining farms and give everyone else in the world a better shot at mining. I am sure that situation would' last too long though, as while maybe a pain and expensive, the equipment could be relocated to a nearby mining friendly country, maybe South Korea or something.
October 07, 2017, 09:33:33 AM
China's need for the internet is much broader than just finding ways to halt Bitcoin use. Their whole financial economy work
via the internet, because their markets are linked to other markets in other countries. They also have trade agreements with
other governments and also daily commerce with financial institutions outside of China. It will destroy their economy if they
close down the internet.
via the internet, because their markets are linked to other markets in other countries. They also have trade agreements with
other governments and also daily commerce with financial institutions outside of China. It will destroy their economy if they
close down the internet.
October 07, 2017, 09:06:43 AM
To the original question. It's already been proven that Bitcoin can go on fine without China. But I think they may want to get involved rather than be excluded. We may find out before the end of the year.
October 07, 2017, 09:01:42 AM
Now it is impossible without the Internet. If the Chinese government shut off Internet access then China's economy will stop. In our time without the Internet is impossible. In addition to Internet access do not have to physically connect to the cables. Enough to have a satellite dish. I think the Chinese government will try to get the most from cryptocurrencies. It does not need to ban them.
October 07, 2017, 08:35:36 AM
And why will they do that? trust me but China wont have have as much control as they have now over their citizens in the near future as they do now. The status quo is bound to change, and is changing, albeit very slowly.
October 07, 2017, 05:29:50 AM
I think China can't disconnect themselves to the outer world, and can't surely disconnect to the internet. In terms of hashpower, I think that BTC is greater than China! Even though there are many miners in China, and if they suddenly stop doing it, well, new miners can come up, BTC can gt in more demand, and if the transaction fees don't suffer with China being out of the game, well then we will see that BTC is more than a country!
October 07, 2017, 05:24:57 AM
If their primary motive is to shutdown bitcoin completely off of their shores then I tell you it isn't worth it on their part. Imagine losing hundreds of billions of dollars because you disconnected yourself to the world, just because you deem bitcoin as a threat, it isn't totally worth it on their part. They can ban trades just like what they did recently, but going to the extent of cutting international internet cables would be ridiculous since you'd also sacrifice your primary connection to the world.
October 07, 2017, 05:24:18 AM
That would be some form of dictartorship where in North korea they ban the usage of internet from the people and only the high ranking officials can use it. Even though they've manage to ban bitcoin or the use of crypto currency through internet that would also affect their fiat currency cause there are many business man who operates their business online that would be a loss huge of their income so shutting down is risky and would be a loss for them to. In short its very risky.
October 07, 2017, 05:20:19 AM
The people will suffer, that's the best answer. People need information and blocking it, like North Korea does is not the answer.
What will they do if people start buying out sat connections just to be able to communicate with the world and have access to unbiased news? Shoot them? North Korea would because they don't care about any human rights, but China shouldn't go that far. They had some dark moments in history when Mao ruled the country and they don't want to repeat them.
What will they do if people start buying out sat connections just to be able to communicate with the world and have access to unbiased news? Shoot them? North Korea would because they don't care about any human rights, but China shouldn't go that far. They had some dark moments in history when Mao ruled the country and they don't want to repeat them.
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