Quote from: Gerharde on October 12, 2017, 08:26:47 AM

My own opinion about china trying to get out of bitcoin which previously had a huge effect on the bitcoin market is that since china is still not too familiar in using cryptocurrencies and like any other nations who don’t have control over it yet china will just try to take control by using force and forbidding in using bitcoin before they are able to have it under control. China will not kick out bitcoin, what I can see is that they are just preparing to have some system and rules ready before they will announce their support to it.

Bitcoin took off in 2013 due to China and crashed but in 2016, it took off due to its legalization in Japan. Last spring, Chinese exchange sites got suspended but Bitcoin took off any way because of the rest of world, esp Japan. Rules that was used to apply in the past doesn't always apply in present. The rapid bitcoin price increase from China is not healthy. It doesn't let bitcoin grow organically. It drives prices too rapidly and then crash hard when it goes down. This makes bitcoin look really bad. It makes bitcoin look gambling instead of real currency. This doesn't help bitcoin's wider adoption. It is True that in the beginning, bitcoin might need China to be noticed but bitcoin already passed that stage.