Famous Entrepreneur: China Can Prohibit Bitcoin

Jason Calacanis, one of the most famous entrepreneurs in the world, talked about the repressive policies pursued by the Chinese Government and said they could affect Bitcoin as well.

Calacanis said in his social media account that China could ban Bitcoin at any time.

Chinese Influence

The Chinese Government closely monitors Internet users in the country, and severely punishes those who are supposed to have committed varsayılan crimes. We saw an example of this in a Chinese citizen who was imprisoned just because he was using VPN.

The famous investor Calacanis, referring to this event, shared a post from his social media account and said China could also ban Bitcoin if he wanted to.

According to Calacanis, China can “control, track and ban Bitcoin” at any time.

How Effective?

As Calacanis points out, China may actually ban Bitcoin and other crypto coins if related designs are made.

According to crypto currency followers, such a prohibition would seriously affect the price of Bitcoin and other crypto currencies. No doubt about that. However, according to these followers, the fact that a country can ban the use of crypto money does not mean that the crypto money will disappear.

Some followers who compare this to today’s illicit drug use say that Bitcoin will survive even if a restraining order comes from China, and people will continue to secretly use Bitcoin.

China may not eliminate the Bitcoin network altogether, but it goes without saying that if China makes such a restraining order, Bitcoin will suffer a heavy blow. If we consider that more than half of the hash rate of Bitcoin today comes from China, and most Bitcoin miners are in China, China’s anti-Bitcoin policy will seriously damage the crypto money market.