Topic: Does China Control Bitcoin? - page 5. (Read 9270 times)
China got a big hand on the crypto currencies market because of the big population and the huge number of projects there. It has a lot of famous company who's interested on bitcoin, but it's not all about china, it's about the whole world thought.
Why we call Bitcoin as a decentralized crypto currency? It is not controlled by any person or government. Actually users of it are controlling it. A huge number of people are involved with Bitcoin in China but it doesn't mean that Bitcoin is maintained by China.
Bitcoin is definitely not maintained by the Chinese but you, us and myself because the reason why bitcoin still exist till now is that we all choose to use and hold a portion of it. Besides, the governments and the institutions understand this than us which the reason why they make FUD statement in other cause some kind of fear and misunderstand in the crypto community.
Why we call Bitcoin as a decentralized crypto currency? It is not controlled by any person or government. Actually users of it are controlling it. A huge number of people are involved with Bitcoin in China but it doesn't mean that Bitcoin is maintained by China.
Why we call Bitcoin as a decentralized crypto currency? It is not controlled by any person or government. Actually users of it are controlling it. A huge number of people are involved with Bitcoin in China but it doesn't mean that Bitcoin is maintained by China.
Bitcoin is definitely not maintained by the Chinese but you, us and myself because the reason why bitcoin still exist till now is that we all choose to use and hold a portion of it. Besides, the governments and the institutions understand this than us which the reason why they make FUD statement in other cause some kind of fear and misunderstand in the crypto community.hero member
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Why we call Bitcoin as a decentralized crypto currency? It is not controlled by any person or government. Actually users of it are controlling it. A huge number of people are involved with Bitcoin in China but it doesn't mean that Bitcoin is maintained by China.
Bitcoin is definitely not maintained by the Chinese but you, us and myself because the reason why bitcoin still exist till now is that we all choose to use and hold a portion of it. Besides, the governments and the institutions understand this than us which the reason why they make FUD statement in other cause some kind of fear and misunderstand in the crypto community. 
We cannot remove the fact that China had the major contribution regards with Bitcoin mining and I admit as well that they have big impact in this industry but I don't think they have the full control on Bitcoin. Perhaps you we are all aware that no one can manipulate Bitcoin because if it does then we cannot say it as decentralized.
As far as I know, Bitcoin is not banned in the said country but rather the exchanges related with crypto. Bitcoin mining is still widely processed in China so we cannot totally say that it is prohibited. They may use their own digital currency but it won't overthrow Bitcoin in any other way.
Actually they are not against bitcoin, in fact they are handling it a good way but there are just exchanges whose being illegal that involves in various scams and fraud in the country so China decided to take it down. I guess they are initiating these matters to fully clean their country and start with a their own blockchain and digital currency. 
Here's an interesting article citing some recent research which claims that the majority of mining power is in China, and those miners may have some perks that others outside the country do not have.
Here's the article.
https://thenextweb.com/hardfork/2018/10/08/china-means-intent-destroy-bitcoin/
It talks about whether China could destroy Bitcoin, or perhaps use it in some other way.
What do you think? Does China control Bitcoin? If so, is it the government or no? Are these Chinese Bitcoin mining farms working together? What might China do with Bitcoin (government or no) in the future? AKA, attempt to destroy Bitcoin (would they be successful, do you think), use it to bring more wealth into the country or personal pockets, use it to attack other nations, etc?
Looking forward to your thoughts,
The Cyberius team.
We cannot remove the fact that China had the major contribution regards with Bitcoin mining and I admit as well that they have big impact in this industry but I don't think they have the full control on Bitcoin. Perhaps you we are all aware that no one can manipulate Bitcoin because if it does then we cannot say it as decentralized.Here's the article.
https://thenextweb.com/hardfork/2018/10/08/china-means-intent-destroy-bitcoin/
It talks about whether China could destroy Bitcoin, or perhaps use it in some other way.
What do you think? Does China control Bitcoin? If so, is it the government or no? Are these Chinese Bitcoin mining farms working together? What might China do with Bitcoin (government or no) in the future? AKA, attempt to destroy Bitcoin (would they be successful, do you think), use it to bring more wealth into the country or personal pockets, use it to attack other nations, etc?
Looking forward to your thoughts,
The Cyberius team.
It's a big NO because bitcoin is already banned in china due to increased of scams in ICO projects and other reasons, so it is impossible for china to control bitcoin. Other reasons why china can't control bitcoin is because bitcoin is decentralized that no one can control it, even the government in every country.
As far as I know, Bitcoin is not banned in the said country but rather the exchanges related with crypto. Bitcoin mining is still widely processed in China so we cannot totally say that it is prohibited. They may use their own digital currency but it won't overthrow Bitcoin in any other way. 
Here's an interesting article citing some recent research which claims that the majority of mining power is in China, and those miners may have some perks that others outside the country do not have.
Here's the article.
https://thenextweb.com/hardfork/2018/10/08/china-means-intent-destroy-bitcoin/
It talks about whether China could destroy Bitcoin, or perhaps use it in some other way.
What do you think? Does China control Bitcoin? If so, is it the government or no? Are these Chinese Bitcoin mining farms working together? What might China do with Bitcoin (government or no) in the future? AKA, attempt to destroy Bitcoin (would they be successful, do you think), use it to bring more wealth into the country or personal pockets, use it to attack other nations, etc?
Looking forward to your thoughts,
The Cyberius team.
I have opposite thoughts with you. We all know bitcoin is very valuable and it is a tool used to manipulate the market to gain profit for manipulating organizations. so if Chinese people hold a lot of bitcoins, they will not be foolish to sell it to crush bitcoin's future. While they can use bitcoin to make more money than the fry like us, why should they destroy this market? they will continue to maintain this market and even make it larger market capitalization. Here's the article.
https://thenextweb.com/hardfork/2018/10/08/china-means-intent-destroy-bitcoin/
It talks about whether China could destroy Bitcoin, or perhaps use it in some other way.
What do you think? Does China control Bitcoin? If so, is it the government or no? Are these Chinese Bitcoin mining farms working together? What might China do with Bitcoin (government or no) in the future? AKA, attempt to destroy Bitcoin (would they be successful, do you think), use it to bring more wealth into the country or personal pockets, use it to attack other nations, etc?
Looking forward to your thoughts,
The Cyberius team.
It's a big NO because bitcoin is already banned in china due to increased of scams in ICO projects and other reasons, so it is impossible for china to control bitcoin. Other reasons why china can't control bitcoin is because bitcoin is decentralized that no one can control it, even the government in every country.
But it is the fact that China currently controls the majority of hashes although it's far from 51% attack it could be a problem later on. However, if China really does harsh law enforcement regarding cryptocurrencies or even banned it with punishment for those who break the law. We could potentially lose a major hashes power However it will then adjust automatically after 2016 blocks and become profitable again for small miners to mine bitcoin. Actually there's nothing really need to worry about as of now and to be clear, China didn't control Bitcoin but a price manipulation with massive capital could still happen.
A 51% attack would leave Bitcoin completely worthless and anyone who has made investments in Bitcoin (including the large-scale miners) would try their best to avoid that. So I don't think that the mining pools would come together and launch a 51% attack, because it will be self-defeating for them. Only the government agencies would try something like that.
but what's scary is that China is making negative news, and it has been proven that China indeed manipulates the price of bitcoin
But it is the fact that China currently controls the majority of hashes although it's far from 51% attack it could be a problem later on. However, if China really does harsh law enforcement regarding cryptocurrencies or even banned it with punishment for those who break the law. We could potentially lose a major hashes power However it will then adjust automatically after 2016 blocks and become profitable again for small miners to mine bitcoin. Actually there's nothing really need to worry about as of now and to be clear, China didn't control Bitcoin but a price manipulation with massive capital could still happen.
A 51% attack would leave Bitcoin completely worthless and anyone who has made investments in Bitcoin (including the large-scale miners) would try their best to avoid that. So I don't think that the mining pools would come together and launch a 51% attack, because it will be self-defeating for them. Only the government agencies would try something like that.
But it is the fact that China currently controls the majority of hashes although it's far from 51% attack it could be a problem later on. However, if China really does harsh law enforcement regarding cryptocurrencies or even banned it with punishment for those who break the law. We could potentially lose a major hashes power However it will then adjust automatically after 2016 blocks and become profitable again for small miners to mine bitcoin. Actually there's nothing really need to worry about as of now and to be clear, China didn't control Bitcoin but a price manipulation with massive capital could still happen.
A 51% attack would leave Bitcoin completely worthless and anyone who has made investments in Bitcoin (including the large-scale miners) would try their best to avoid that. So I don't think that the mining pools would come together and launch a 51% attack, because it will be self-defeating for them. Only the government agencies would try something like that.
Chinese people are highly industrious people, very hardworking is an understatement.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
I disagree with china can determine the fate of bitcoin. There is a large user population outside of china. China has banned and unbanned bitcoin more than I can follow. Bitcoin kept plugging down the road, china can do what they want it wont affect the long term viability of bitcoin
It gets old, yeah in 2015 ish it used to make waves in the price but less and less these absurd announcements go unnoticed. There is only so many times they can ban and unban it before the wolf cry means nothing.
Chinese people are highly industrious people, very hardworking is an understatement.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
I disagree with china can determine the fate of bitcoin. There is a large user population outside of china. China has banned and unbanned bitcoin more than I can follow. Bitcoin kept plugging down the road, china can do what they want it wont affect the long term viability of bitcoin
Chinese people are highly industrious people, very hardworking is an understatement.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
I disagree with china can determine the fate of bitcoin. There is a large user population outside of china. China has banned and unbanned bitcoin more than I can follow. Bitcoin kept plugging down the road, china can do what they want it wont affect the long term viability of bitcoin
I disagree with china can determine the fate of bitcoin. There is a large user population outside of china. China has banned and unbanned bitcoin more than I can follow. Bitcoin kept plugging down the road, china can do what they want it wont affect the long term viability of bitcoin
Price manipulation can come from anywhere. And yeah if china drops off their are plenty of people on the sidelines waiting for diff drop and will jump right back on. So long as their is profit there will be miners I dont care which country bans it. I'm not worried about that aspect. And as technological bitcoin/blockchain is, China's governmnet would be imploding the ability to keep up. Bitcoin is here to stay like it or not. Get on the train or get off cause she ain't stopping
No one has control over bitcoin, they might try to create FUD that will dump the price but that doesn't give them the control over bitcoin because the market will react to either FUD news or bull news
China doesn't control bitcoin but that doesn't mean that they're not going to try to do precisely that, they know they are very powerful and it seems the Chinese government doesn't want to accept that bitcoin is a decentralized currency of which they cannot take control.Honestly I do not have any problem with them doing everything they can to try to destroy bitcoin, every single time they fail they prove to the world and to anyone which may try something similar about the futility of their efforts.
I disagree with china can determine the fate of bitcoin. There is a large user population outside of china. China has banned and unbanned bitcoin more than I can follow. Bitcoin kept plugging down the road, china can do what they want it wont affect the long term viability of bitcoin
Price manipulation can come from anywhere. And yeah if china drops off their are plenty of people on the sidelines waiting for diff drop and will jump right back on. So long as their is profit there will be miners I dont care which country bans it. I'm not worried about that aspect. And as technological bitcoin/blockchain is, China's governmnet would be imploding the ability to keep up. Bitcoin is here to stay like it or not. Get on the train or get off cause she ain't stopping
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I disagree with china can determine the fate of bitcoin. There is a large user population outside of china. China has banned and unbanned bitcoin more than I can follow. Bitcoin kept plugging down the road, china can do what they want it wont affect the long term viability of bitcoin
Chinese people are highly industrious people, very hardworking is an understatement.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
Most Chinese citizen has bitcoin mining farm when the going was good, the largest number of such industry exists only in China.
Does China Control Bitcoin? China dominates bitcoin and can easily determine its fate and that is the major reason behind the spike in btc price whenever the Chinese president says anything about it unlike other world powers.
I disagree with china can determine the fate of bitcoin. There is a large user population outside of china. China has banned and unbanned bitcoin more than I can follow. Bitcoin kept plugging down the road, china can do what they want it wont affect the long term viability of bitcoin
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