Someone out there is trying to use the ''Chinese Will Ban Bitcoin" scare tactic again. Why not ban it already and let Bitcoin move on from it. If those rumors are true, which they are not, then it could also be seen as a positive for Bitcoin for various reasons. China will slowly lose or diminish their influence over Bitcoin and will give room for other players to get in the exchange trading and mining game. Another reason is this should be seen as another test for the resilience of Bitcoin and a chance to give the finger to the man.
Shutting out more than a billion people won't be good for Bitcoin. We could plunge to scary levels, which would result in other people losing faith in Bitcoin as well.
A billion people? So you think a billion Chinese people are using Bitcoin regularly in their lives now, and that shutting them out will result to dire consequences to the Bitcoin economy? I am sorry sir but most of the Chinese who are into Bitcoin are speculators. It will be surely bad if those
thousands of Chinese speculators will be shut out but it will not make Bitcoin "die". Far from it sir.
I'd rather agree that shutting out more than a billion of the Chinese people won't bode well for Bitcoin, even if only a small percentage of people in China are actually using Bitcoin right now. Shutting out China from Bitcoin basically means that the Chinese population won't have an opportunity of using Bitcoin in the future. And they could make all the difference.