Author Topic: China proves Bitcoin is an unstoppable machine: Bitcoin Center founder (Read 452 times)

newshunter · « **on:** July 07, 2021, 07:01:09 AM »

China proves Bitcoin is an unstoppable machine: Bitcoin Center founder

Bitcoin’s price goes up once regulatory setbacks are digested by the crypto community, Zap Procotol co-founder Nick Spanos says.

Source: China proves Bitcoin is an unstoppable machine: Bitcoin Center founder

Would appreciate your opinion about this

Altcoins Talks - Cryptocurrency Forum · « **on:** July 07, 2021, 07:01:09 AM »

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Dora Walletinvestor · « **Reply #1 on:** July 07, 2021, 10:50:09 AM »

I think this is a realistic way to look at the current situation - Bitcoin's algorithm is indeed handling this very well. Additionally, Bitcoin still has the support of a lot of people.

Alcor · « **Reply #2 on:** July 07, 2021, 04:10:08 PM »

In any case, I regard the pressure and the ban of the Chinese authorities on Bitcoin mining and the forced distribution of the Bitcoin hashrate around the world due to the migration of Bitcoin miners quite well for the prospects for the sustainable development of the cryptocurrency. Bitcoin will be less dependent on the Chinese authorities. To obtain the same negative effect, joint actions of many states with the largest number of miners will already be needed, and this is already very difficult, since many of them have different attitudes towards crypto and bitcoin in particular.
However, it is still premature to say that states cannot do anything about the development and spread of bitcoin around the world. States do not yet see a threat to global financial stability from cryptocurrency, and therefore, in fact, have not yet begun to fight with cryptocurrency.

ManOfBSC · « **Reply #3 on:** July 07, 2021, 05:35:05 PM »

they are constantly for bitcoin, then against it

TomPluz · « **Reply #4 on:** July 08, 2021, 09:41:02 AM »

The ongoing crackdown against Bitcoin, cryptocurrency, mining and all related businesses will be good for the whole cryptocurrency industry in the long-term. Once Bitcoin is purged out of China, there is no more traction of any FUD that may originate from China. Bad news from China have had been a big big force in influencing the price movement of the coin...but maybe by next year this will not be the case anymore. We are then encouraging China to fast-tract everything in removing any trace of Bitcoin from its land and its people...go China go kick Bitcoin away...throw those miners into oblivion so they go to other countries where they can operate freely.

Bobcrypto · « **Reply #5 on:** July 08, 2021, 09:20:29 PM »

Obviously, the absence of bitcoin mining and related crypto activities in China is a good development. There has been too much concentration of bitcoin mining in China has lead to many speculations/negative news, and subsequently, many dumps on the price of btc. I think the business of cryptocurrecy should spread around the globe to reduced Chinese influence on the market value of Btc.