Quote from: Rufsilf on Today at 03:20:44 PM

Quote from: aprilnot on October 12, 2021, 03:32:57 PM

Quote from: Charles-Tim on October 12, 2021, 08:27:34 AM

Quote from: Novice08091 on October 11, 2021, 08:28:26 PM

I don't actually think their laws will get rid of crypto.

A single country can not eliminate bitcoin, see the recent China FUD, bitcoin was down 5% to a price around $41000, but just few days after, the price soar to over $50000. Bitcoin price now at $57000.

yes you are right, one country will not make bitcoin disappear. no matter what their efforts, bitcoin and crypto will survive. so I think they're doing something pointless. even if the country were to withdraw from all things crypto-related, it would only have a temporary effect. and will have no effect in the long term.

Certainly there's no country who can control and take command crypto like bitcoin, even the most powerful country like USA cannot make the industry vanish or dissolve it.
Bitcoin is unstoppable and can survive many negative remarks and especially doesn't depend on China's position about bitcoin. Yes they may create a big impact on markets value but it won't last for long because it's just a short-term effect.

I bet China couldn't even keep track about their citizens using bitcoin or mining btc even if their government keeps on banning bitcoin and other cryptocurrencie or something that is related.

Well, its really hard for the government to track all their citizens who are still making crypto transactions secretly because bitcoin alone will never be tracked knowing its users will remain to be anonymous especially now that China will already give sanction to those who will be caught. There might be some who will definitely stop from doing so but i think those who have been holding huge amount of crypto in their portfolio will definitely find ways or even transfer into another country wherein crypto is not restricted.

However, China is known to be the most largest contributor in crypto mining and this recent ban will certainly create big changes in the crypto market. But things come out too far from what we expect. Crypto has remain to be strong and stable and it even become even bullish after few days from banning. So China has not created a huge negative impact on crypto now.