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Topic: China can destroy bitcoin (Read 3646 times)

monster2

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Re: China can destroy bitcoin

October 21, 2018, 07:45:37 PM

#181

China is the vast country in a whole world but i think it can't be destroyed and disappear like a bubble their are such reason here so that you can read about destroying bitcoin in the future.

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Rozita

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Re: China can destroy bitcoin

October 21, 2018, 08:04:13 PM

#182

I don't think so. Why should China want bitcoin to be destroyed? Even of they can mine many bitcoins, they won't try to decrease the price. I am sure they want the price to rise.
Also, there are many whales in the market, own many bitcoins. They are holding much more bitcoins than miners have. Those whales can affect the market more than the miners in China.

hahay

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Re: China can destroy bitcoin

October 21, 2018, 08:12:51 PM

#183

I don't think if China will destroy bitcoin, if they destroy it then I'm sure there will be many bitcoin holders and miners as well as China investors who will lose. China is among the largest crypto users as well as mining that is there, so it would not be possible that China would destroy bitcoin.

DJ_Rick

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Re: China can destroy bitcoin

October 21, 2018, 09:42:45 PM

#184

I think that China won't destroy btc, maybe it doesn't like it but to my mind for China Neo is their own BTC. I think that China is a smart country and they will accept btc with time

Maricel2017

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Re: China can destroy bitcoin

October 21, 2018, 09:54:27 PM

#185

Quote from: DJ_Rick on October 21, 2018, 09:42:45 PM

I think that China won't destroy btc, maybe it doesn't like it but to my mind for China Neo is their own BTC. I think that China is a smart country and they will accept btc with time

China wont do that its because if btc died also their own coin will be dead too because no people will be interested in crypto currency anymore, bitcoin is the first coin that they interested thats why many people invested in crypto also this is the basis of the value of altcoin and we can called mother coin.

suzanne5223

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Re: China can destroy bitcoin

October 21, 2018, 10:19:59 PM

#186

Quote from: Dissident991 on October 20, 2018, 10:01:16 AM

Quote from: suzanne5223 on October 20, 2018, 07:56:41 AM

Quote from: SimonJones on October 20, 2018, 04:21:49 AM

Quote from: airdagon on October 16, 2018, 10:15:57 PM

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency ?

Yes, China has the power to destroy bitcoins . I think, there are no solution right now but who knows someone will come up to combat this. Think positive...

You seems not to understand that it not the matter of certain country controls mining hashrate or dominate the ASIC vendors because bitcoin was controlled by the community and most of the hashrate, ASIC and mining I own by private investors. Meanwhile, they have tried to destroy bitcoin in the past, they failed and was hurt for not holding bitcoin when it reaches the last ATH.
I'm somehow disappointed for your statement as a Senior account holder.

Do you think can chinese government design the legislation that would enable them to take away located in the China mining farms from their owners? And therefore grab control of majority of the hash rate .

I dont know if the Chinese government planned a legislation to take away mining farms from their owner but I'm sure of is the reason why they banned bitcoin then which was because of bitcoin gaining more investors and traders there. Besides, people choose to use bitcoin than their national currency and all this leads to Yen devaluation and the Chinese government sees bitcoin as a threat to their national currency.

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Vaculin

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Re: China can destroy bitcoin

October 21, 2018, 11:03:41 PM

#187

Quote from: DJ_Rick on October 21, 2018, 09:42:45 PM

I think that China won't destroy btc, maybe it doesn't like it but to my mind for China Neo is their own BTC. I think that China is a smart country and they will accept btc with time

Even if they will try to destroy bitcoin,it cannot be ruin as easy as that.Bitcoin has lived for more than 9 longer years so it has built already a strong foundation.There are still some countries who are already into bitcoin,and not just China alone.

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Question123

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Re: China can destroy bitcoin

October 21, 2018, 11:32:22 PM

#188

China will not destory bitcoin because even they banned bitcoin a lot of country are adopt ad accept bitcoin and for sure it will not effect even China banned even all cryptocurrency. We here right now to support bitcoin and no one can stop that even china.

vgk88

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Re: China can destroy bitcoin

October 21, 2018, 11:37:20 PM

#189

I think that China does not want to destroy Bitcoin. China is actively implementing the blockchain and is trying to deal with speculation and fraud. Perhaps this is the right way.

RomanPoman

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Re: China can destroy bitcoin

October 22, 2018, 07:43:06 AM

#190

They are smarter than that. There are already plenty of chinese crypto projects moving forward.
China will harness cryptos, rather than destroy them.

rickyNmorty

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Re: China can destroy bitcoin

October 22, 2018, 07:48:02 AM

#191

Quote from: steampunkz on October 17, 2018, 03:01:31 AM

China cannot officially kill bitcoin. But because of the almost 60% of all bitcoin miners are based on China. When China governments are in chaos like banning ICO and other cryptos. It will affect the bitcoins price rapidly.

I agree. Chinese people has a huge impact to the bitcoin. The country itself is where you can find majority of the miners, therefore it will really have a huge impact. We can also predict that it might have a bigger impact especially that as of this moment majority of the users are panic sellers.

mudasarali43

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Re: China can destroy bitcoin

October 22, 2018, 08:21:21 AM

#192

I think no anyone can destroy bitcoin, when only some sellers sell it then their price goes to down but you don't say that any country is destroying bitcoin its the new way of modern transactions and everyone wants to join this program

rosemary4u

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Re: China can destroy bitcoin

October 22, 2018, 09:43:14 AM

#193

It is very difficult or wrong to conclude that one country can make bitcoin unstable. Although China is a strong force when it comes to activities of economy such as cryptocurrency, It won't be easy for them to cause bitcoin any harm when they even stop mining bitcoin.

ongkok87

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Re: China can destroy bitcoin

October 22, 2018, 09:53:25 AM

#194

Quote from: florianuhlemann on October 21, 2018, 02:41:45 PM

if they mine bitcoin in large quantities and are the developers of many developments on the blockchain, then how can they destroy it?

because china is the biggest bitcoin miner in the world that can whenever they destroy bitcoin, so an example like last year that often makes the price of bitcoin can go down is its brain from china

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Mishael

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Re: China can destroy bitcoin

October 22, 2018, 09:59:41 AM

#195

Quote from: ongkok87 on October 22, 2018, 09:53:25 AM

Quote from: florianuhlemann on October 21, 2018, 02:41:45 PM

if they mine bitcoin in large quantities and are the developers of many developments on the blockchain, then how can they destroy it?

because china is the biggest bitcoin miner in the world that can whenever they destroy bitcoin, so an example like last year that often makes the price of bitcoin can go down is its brain from china

China does have the opportunity to be able to reverse the value of bitcoin, this is very chaotic for bitcoin lovers, but certainly, China will not destroy bitcoin if there is no specific purpose.

bigbosma

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Re: China can destroy bitcoin

October 23, 2018, 07:02:56 PM

#196

China is strengthening its economy every year, and as we can see, this has an impact on the production of bitcoin. And I don't think that we, the most ordinary investors, can really seriously affect a Titan like China. All we can do is watch the news.

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bitcoinveda

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Re: China can destroy bitcoin

October 23, 2018, 07:13:25 PM

#197

No country can ever destroy bitcoin Bitcoin is independent of growth and purely decentralized in nature so no country or no govt or no central bank can destroy

nickowain

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Re: China can destroy bitcoin

October 23, 2018, 08:30:37 PM

#198

To destroy bitcoin you need 51% attack to control the thousands of nodes that run the bitcoin network around the world, that would mean going back a decade to try and change the bitcoin blocks from 2008-2018 so it would cost probably trillions of dollars and a lot of computation time so impossible for china to control bitcoin

javadsalehi

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Re: China can destroy bitcoin

October 23, 2018, 08:55:27 PM

#199

I don't think China want bitcoin to be destroyed. China is only trying to use the opportunity for future and play a big role in the market. Also the difficult situation in China for using bitcoin is only due to lack of regulation. China is always pioneer in every market.

absurde

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Re: China can destroy bitcoin

October 23, 2018, 09:06:36 PM

#200

No i don't thinks so, there are still reliable China projects on crypto market and China should adopt the best technology, thats why they will make regulations on cryptomarket and will join this competition in near future. No doubt.

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