Quote
Will China's crackdown on Bitcoin cause Bitcoin to become worthless?
Easy. Yes, absolutely. Next question.
Topic: Will China's crackdown on Bitcoin cause Bitcoin to become worthless? - page 5. (Read 1252 times)
June 24, 2021, 11:36:34 AM
Easy. Yes, absolutely. Next question.
June 24, 2021, 11:34:55 AM
As we all know, in the cryptocurrency market, Chinese account for a large portion. So what impact will the Chinese government's total blockade of Bitcoin have on the cryptocurrency market? The sharp drop in the price of Bitcoin is the result we have seen, so after this blow, can the price of Bitcoin return to its peak, or will it fail? What do you think? I am confused now, hope someone can answer it for me.
Convince yourself that bitcoin could still reach higher prices in the future and could still drop lower. China is the part that can have an impact on the bitcoin price, but they will not be able to prevent the bitcoin price from growing when there is a lot of support coming from institutional investor and other countries that are starting to adopt. It's natural that you start to hesitate to stay optimistic because of a price correction, but a price correction will not be the reason bitcoin can no longer peak.Always remember that bitcoin is a valuable asset for more than 10 years and bitcoin still has a better future as a tradable asset as well as a currency. Though you need to know that investing in bitcoin has a risk that is proportional to the profit you will get in the long run. Always invest within the limit that you can afford to lose, It will not make you afraid and doubt about the price dump or pump.
June 24, 2021, 11:16:53 AM
trust me this is only temporary, and there is no way bitcoins become worthless just because of china. bitcoin is not only owned by the Chinese alone but the whole world now knows bitcoin. strengthen your mentality to get used to market sentiment because what I know is that it's not just this once that China has tried to bring down bitcoin with all its polemics, but they have done it many times, but bitcoin continues to be valuable.
China alone can't shut down Bitcoin but we can see its fatal effect on the market since the majority of the mining industries and gadgets are coming from them. Several times that they are banning crypto but also several times they open it. We really don't know what's in the head of their leaders. But there is one thing I'm sure of is that Bitcoin will still able to survive without China. A lot of countries give support to cryptocurrency now and I think it was enough to move the market to a higher level. June 23, 2021, 11:40:46 AM
You are a newbie so it is understandable that you do not know but FUD coming from China is nothing new, in fact there was a time in which the influence of China was huge and only a comment was needed to crash the price of bitcoin, however the more they do this and the more they lose control of mining and the miners move to other countries then the less power and influence they will have over this market so I am not worried about this at all.
China still retains a lot of influence, but now most of the traders have taken steps to lessen the impact of any hostile government action. Many have moved their trades to exchanges in Hong Kong and South Korea, and in rare cases the traders themselves have moved out of China. And regarding the mining sector, it is true that China still contributes to around 70% of the hash power. But over the years, the percentage has come down and in the future we can expect it to go further down, and may hit the 50% level.
I think your wrong about the Chinese mining percentage. Nic Carter estimates 50% already, and that was prior to the Chinese miner shutdown. I'd say they are much lower now and will soon be none, as no Bitcoin business can now operate under a regime like the CCP.
Same as businesses staying away from places like the Congo. Doesn't matter if they are resource rich if they are going to change laws on you overnight that either destroy your business or your life.
June 21, 2021, 05:42:27 AM
You are a newbie so it is understandable that you do not know but FUD coming from China is nothing new, in fact there was a time in which the influence of China was huge and only a comment was needed to crash the price of bitcoin, however the more they do this and the more they lose control of mining and the miners move to other countries then the less power and influence they will have over this market so I am not worried about this at all.
China still retains a lot of influence, but now most of the traders have taken steps to lessen the impact of any hostile government action. Many have moved their trades to exchanges in Hong Kong and South Korea, and in rare cases the traders themselves have moved out of China. And regarding the mining sector, it is true that China still contributes to around 70% of the hash power. But over the years, the percentage has come down and in the future we can expect it to go further down, and may hit the 50% level.
I think your wrong about the Chinese mining percentage. Nic Carter estimates 50% already, and that was prior to the Chinese miner shutdown. I'd say they are much lower now and will soon be none, as no Bitcoin business can now operate under a regime like the CCP.
Same as businesses staying away from places like the Congo. Doesn't matter if they are resource rich if they are going to change laws on you overnight that either destroy your business or your life.
June 21, 2021, 05:04:49 AM
trust me this is only temporary, and there is no way bitcoins become worthless just because of china. bitcoin is not only owned by the Chinese alone but the whole world now knows bitcoin. strengthen your mentality to get used to market sentiment because what I know is that it's not just this once that China has tried to bring down bitcoin with all its polemics, but they have done it many times, but bitcoin continues to be valuable.
June 21, 2021, 02:22:05 AM
You are a newbie so it is understandable that you do not know but FUD coming from China is nothing new, in fact there was a time in which the influence of China was huge and only a comment was needed to crash the price of bitcoin, however the more they do this and the more they lose control of mining and the miners move to other countries then the less power and influence they will have over this market so I am not worried about this at all.
China still retains a lot of influence, but now most of the traders have taken steps to lessen the impact of any hostile government action. Many have moved their trades to exchanges in Hong Kong and South Korea, and in rare cases the traders themselves have moved out of China. And regarding the mining sector, it is true that China still contributes to around 70% of the hash power. But over the years, the percentage has come down and in the future we can expect it to go further down, and may hit the 50% level.
June 20, 2021, 12:54:53 PM
Since bitcoin decreases demand as China complete blockage of it, it decreases it value but I don't see it going further down than that. China is a large country and almost worth as US and since Chinas' economy is top tier as well losing investors there created a huge FUD that it cannot sustain its current price. But the thing is even if China didn't block bitcoin it is an inevitable event that bitcoin will decrease its price at a certain point, it normally happens and bitcoin can easily climb back to its peak once all the FUD that was created during the Chinas' blockage to bitcoin ends.
Bitcoin takes a hit from Tesla issue as well so it is understandable that bitcoin falls from $60k to $35k in just a few weeks but right now I don't see it lower than $30k.
Bitcoin takes a hit from Tesla issue as well so it is understandable that bitcoin falls from $60k to $35k in just a few weeks but right now I don't see it lower than $30k.
June 20, 2021, 12:14:41 PM
As we all know, in the cryptocurrency market, Chinese account for a large portion. So what impact will the Chinese government's total blockade of Bitcoin have on the cryptocurrency market? The sharp drop in the price of Bitcoin is the result we have seen, so after this blow, can the price of Bitcoin return to its peak, or will it fail? What do you think? I am confused now, hope someone can answer it for me.
You are a newbie so it is understandable that you do not know but FUD coming from China is nothing new, in fact there was a time in which the influence of China was huge and only a comment was needed to crash the price of bitcoin, however the more they do this and the more they lose control of mining and the miners move to other countries then the less power and influence they will have over this market so I am not worried about this at all. 
June 18, 2021, 09:59:59 PM
China is just one country where Bitcoin could thrive. Admittedly, the country has a very large market but I don't think Bitcoin's price and fate are at the mercy of the Chinese government. Also, it has been repeatedly debunked that every single Chinese would also avoid Bitcoin only because its totalitarian government doesn't like it. I've come across a number of testimonies from Chinese individuals in China themselves that they are still more or less free to access Bitcoin online.
Isn't that the impact we have seen when the Chinese rules blocked Bitcoin. although this policy has been around for a long time and has had a big impact this year. we don't know for sure whether bitcoin will be valuable or not. but what is our current belief is that Bitcoin is still in a stable state despite being hit by China's decision.
What impact? they haven't blocked bitcoin, although I would say that they don't like it because it gives too much freedom and then there is capital flight. As for banning bitcoin mining, this will be healthy in the long run. The Chinese won't have the monopoly and then other nations starting to take the lead. So in no time, China will be irrelevant, not just in bitcoin ecosystem, but the whole ecosystem. We don't have to hear anything coming from them that disrupts the market, and I feel that they are doing it on purpose.
June 18, 2021, 08:20:13 PM
As we all know, in the cryptocurrency market, Chinese account for a large portion. So what impact will the Chinese government's total blockade of Bitcoin have on the cryptocurrency market? The sharp drop in the price of Bitcoin is the result we have seen, so after this blow, can the price of Bitcoin return to its peak, or will it fail? What do you think? I am confused now, hope someone can answer it for me.
Do not worry, the greatest of all dangers were the miners and many have migrated to the USA, which they see a better panorama to continue with their activities, China will always be an opportunistic country with respect to BTC, when it suits it it is fine with BTC and when not, it attacks it, in fact China is a very large country with a large population of people, obviously if it widely inflates the market demand, but on the other hand this type of news is counteracted because there are more good things such as the fact that El Salvador has adopted BTC as a currency and they plan to implement BTC as a means of payment of wages and salaries, this has been the only country that has made this determination, do not worry, BTC will be in a safe zone, more because there is a lot of investment of institutions with large sums of money that do not think loss it.
June 18, 2021, 04:59:30 PM
China often makes some statements causing crackdown on the Market of bitcoin. This is common with China, and we can see this happen due to the massive influence China has got over the network. This scenario might change when mining of bitcoin in China move towards other countries in large percentage. As of now China holds the position to make changes in the market and the same doesn't make bitcoin go worthless.
June 18, 2021, 02:58:48 PM
of course that is bullshit!, Bitcoin will continue to be valuable until the world ends, or until the internet dies,
calm down and don't panic to sell, because if you panic then you will really regret it,
do what's best for the country right?, of course it's going to be quite a long time again
calm down and don't panic to sell, because if you panic then you will really regret it,
do what's best for the country right?, of course it's going to be quite a long time again
June 18, 2021, 11:56:38 AM
China is just one country where Bitcoin could thrive. Admittedly, the country has a very large market but I don't think Bitcoin's price and fate are at the mercy of the Chinese government. Also, it has been repeatedly debunked that every single Chinese would also avoid Bitcoin only because its totalitarian government doesn't like it. I've come across a number of testimonies from Chinese individuals in China themselves that they are still more or less free to access Bitcoin online.
Isn't that the impact we have seen when the Chinese rules blocked Bitcoin. although this policy has been around for a long time and has had a big impact this year. we don't know for sure whether bitcoin will be valuable or not. but what is our current belief is that Bitcoin is still in a stable state despite being hit by China's decision.
June 18, 2021, 11:19:44 AM
China can not crack Bitcoin down and the real things behind mining ban news are only small part of mining farms in China will be stop their operations. They will have to change to other locations if the news is real but is the ban real.
China can change flip their bans anytime. Bitcoin will not be worthless because of China.
China can change flip their bans anytime. Bitcoin will not be worthless because of China.
But China could lose a lot of value for itself by fucking with BTC
So in the long term I would not worry about BTC getting crushed
It is more likely China's government will alter to some new style than China alters BTC
This is not to piss them off, this is just to ask to be fairly treated, if you ban us then we ban you, if you allow us then we will allow you. Anyway I just wanted to say they are probably trying to ban bitcoin and make their own "bitcoin" as well but it certainly will not work for sure because it is not an app.
June 18, 2021, 08:45:43 AM
I don't know what blockade you are talking about, but there has been no real change in China's policy towards Bitcoin during the past three years, and I also do not think that they can affect the price except by tightening the mining or manufacturing mining equipment, which will lead to temporary changes until the miners move to other regions In the world.
Stop listening to news channels or social media analysis.
Stop listening to news channels or social media analysis.
June 18, 2021, 08:22:09 AM
What do you think?
I think you don't have to worry about China, you just do what you have to do with Bitcoin.To solve your problem with China's actions against Bitcoin, you must study the history of China's treatment of Bitcoin since 2013 ago and until now.
You need to read china do scenario against Bitcoin below.
China's History of Bitcoin Bans
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"While [a ban would be] disruptive for miners in China, its [sic] a nothing for bitcoin and miners outside," Back, generally skeptical of the idea of a ban, further noted on Twitter.
Bitcoin appears to be on its way to recovery from its latest drop to the $33,000 range. At press time, Bitcoin is trading just below $38,000.
Bitcoin appears to be on its way to recovery from its latest drop to the $33,000 range. At press time, Bitcoin is trading just below $38,000.
With the information above, at least it can make you a little relieved China and Bitcoin.
June 18, 2021, 08:21:20 AM
As we all know, in the cryptocurrency market, Chinese account for a large portion. So what impact will the Chinese government's total blockade of Bitcoin have on the cryptocurrency market? The sharp drop in the price of Bitcoin is the result we have seen, so after this blow, can the price of Bitcoin return to its peak, or will it fail? What do you think? I am confused now, hope someone can answer it for me.
Business will be business and they'll surely make some way how they can continue their business. No one can predict the future but I think this gonna be sorted out and no worries this has been done in ages by China and still these days they are still working for it, total FUD. Bitcoin will never be worthless just take note on that. 
June 18, 2021, 08:01:35 AM
Bitcoin is a global currency, China would never make bitcoin worthless even if they will ban everything related to bitcoin. The world is big, we have different miners from all over the world and no regulation could stop bitcoin because it's decentralized. Bitcoin maybe affected with the bad news pertaining to China's regulatory action, but it should never affect the future growth of bitcoin.
June 18, 2021, 07:47:04 AM
As we all know, in the cryptocurrency market, Chinese account for a large portion. So what impact will the Chinese government's total blockade of Bitcoin have on the cryptocurrency market? The sharp drop in the price of Bitcoin is the result we have seen, so after this blow, can the price of Bitcoin return to its peak, or will it fail? What do you think? I am confused now, hope someone can answer it for me.
China is being a huge part of miners but it doesn't mean they can stop the bitcoin, any individual who have enough hardware can start mining and they can still make rewards due to the lack of miners and miners are also not going to stop, they will move to somewhere if cryptocurrency mining will be banned in their current location. Jump to: