Topic: Does China have a large part in the world of cryptocurrency? - page 2. (Read 2011 times)
September 07, 2017, 05:34:28 PM
Honestly they stand to dominate it unless the US starts acting like they know how to create infrastructure. Yo, securities department, get your shit together.
September 07, 2017, 05:29:51 PM
They have indeed a large part in the crypto world. As we all know a lot of miners came from China. They do have a group of whale that others believe they can manipulate or pump the price if they want. Anyway, some ICO are good but most of them are not.
September 07, 2017, 04:05:59 PM
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
Sounds pretty good to me. Most ICO's are scams and not a good use of time, so this could be a good thing for Bitcoin itself and the economy of China as a whole. I think they are on to something because they are, after all, the main exporter for the rest of the world, including USA, so I'm sure they know a thing or two about the state of the economy.
IMO it seems like a ploy to drive the price down, scare off some people and ultimately obtain more Bitcoins.
September 07, 2017, 04:03:16 PM
China has a big market and we can not deny the effect they have on everything crypto related. Chinese are also known for being big traders of everything. they are good at it too.
but the size of China and its effect is greatly exaggerated in bitcoin. and it is simply because those who did it want to control the market and sway it in their own direction. which is why price going down is always because of FUD and panic sells. nothing else.
The name of the game as far as China is concerned is control, control and control. It has been their lifelong prospect to be the ones calling the shots in global affairs and looks like they finally got a break with cryptocurrency. Now see what they are doing with it, twice this year, they have had to puncture the flow of Bitcoin, just so they would pick them up at cheaper rates. but the size of China and its effect is greatly exaggerated in bitcoin. and it is simply because those who did it want to control the market and sway it in their own direction. which is why price going down is always because of FUD and panic sells. nothing else.
September 07, 2017, 08:53:05 AM
Yes , China have a large part in the world of crypto as it is on of the mining cetral of bitcoin and other cryptocurrency. One part is the cheap electricity that china have so they have alot of active miners and traders. the announcement of china banning ICO in their country also have a huge effect in bitcoin and other crypto price. after that announcement cryptos are down up to 15% but right now they back on its high price again.
September 07, 2017, 06:33:56 AM
Miners and exchanges means nothing.
Let's look at the shops accepting bitcoins, let's look at poeple spending and having coins.
How much of the real BTC economy is in China? Close to 0.
All the RL services that are supportin bitcoin are in the US and EU mainly.
Check coinmap:
https://coinmap.org/#/world/53.12040528/74.53125000/2
Pretty obvious where BTC thrives
Let's look at the shops accepting bitcoins, let's look at poeple spending and having coins.
How much of the real BTC economy is in China? Close to 0.
All the RL services that are supportin bitcoin are in the US and EU mainly.
Check coinmap:
https://coinmap.org/#/world/53.12040528/74.53125000/2
Pretty obvious where BTC thrives
September 07, 2017, 04:03:25 AM
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
China is indeed one of the countries that became the centre of the world's largest bitcoin development. in China there are so many places that become centre bitcoin mining. even when the Chinese government announced banned all ICO activities, within a few days bitcoin prices have decreased significantly. this proves that China has a considerable influence on bitcoin.
September 07, 2017, 04:00:12 AM
we may say that China economy is 2nd to the world next to US. Cheap labor and highly industrialized country put China in the edge of cryptocurrency industry. btc mining pools and some high effieciency bitcoin mining hardware are located in china but regarding to market adaption of bitcoin and cryptocurrency, china was less likely to adopt compare to US , Japan and other European countries. Based on fiatleak.com website, there are so many bitcoin mined in china but their btc distribution to the masses was less. In Japan, there are less activity in bitcoin mining the demand to the public distribution was high due to market adaption where more merchants and retailers accept bitcoin as a payment, in the event in between may to july was the first ATH of bitcoin due to the Japan's BTC market acceptance. So where does China greatly contributed to crypto world ? The answer is, in their mining hardware and mining pool.
September 07, 2017, 03:39:51 AM
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
China is an obvious main player in crypto, with Bitmain having a basically mining monopoly and a ton of other miners ending up on China due the cheap electricity and cheap labour essentially.
This is nothing but more FUD and more insider trading. Look at the PBOC incidents last summer. They were able to dump the market, and the market recovered and we went to an ATH. This is the same all once again. Weak hands will get shaken, strong hands will hold, insider traders will get a ton of BTC from the panic sellers. The same cycle always repeats on all markets.
They are playing a large role in the industry of cryptocurrencies (not just in cryptocurrency but also in the gadgets and gizmos and real products). Just imagine a population of roughly 1.3 billion. Ang true perfect place to mine because the climate is not that hot in the upper China and the electricity are cheap because they are relying on the alternative sources of energy. Because of the market share and the support that they are giving in mining and investments china is the main player here. (But Im hoping that russia will soon make crypto a legit currency)
September 07, 2017, 02:49:16 AM
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
In earlier times,whatever small changes occur in china related to crypto currencies,immediately we saw a great impact on the crypo market all over the world.This is because they had a majority of mining farms in china and had a lion's share of total number of bitcoins.So,they are easily able to manipulate the market by dumping bitcoins.But not now since bitcoin has investors universally all over the world.Just same is the case now.After the announcement of ICOs banning,immediately many sold their bitcoins due to panic and FUD started to spread making the price decrease more from ATH $5000 to nearly 20% less reaching $4000.But it was a terporary conitio and immediately,it started to recover and now it is $4495.It shows that big buy wall is there for bitcoins.So,china is losing its upper hand over the crypto world and overall,its good for the crypto world. 
September 07, 2017, 02:32:55 AM
China is top 1 of known of any bitcoin or altcoin activities, 2nd is Russia. No wonder they can control bitcoin price.
This is not true! Japan is the world leader in cryptocurrency at the moment, and even Bitcoin ahead of the United States, China AND Russia.
Both false. Japan is currently the "zero-fee exchange utopia" like China was one year ago, and there is some speculation frenzy there, as we can not only see because of the Bitcoin price that is often higher than in other countries, but also because of (mostly Japanese) altcoin NEM, a cryptocurrency with almost empty blocks that is in the top 10 only because of bitFlyer
.But in terms of real world usage Japan continues to be one of the "lower powers": There are only 139 Japanese Bitcoin nodes. That is position #11 in the world (China is currently at #4). There was some growth from last time I checked (at the beginning of the year, Japan had about 80 nodes) but it's not near the top.
September 06, 2017, 04:22:48 PM
China is top 1 of known of any bitcoin or altcoin activities, 2nd is Russia. No wonder they can control bitcoin price.
This is not true! Japan is the world leader in cryptocurrency at the moment, and even Bitcoin ahead of the United States, China AND Russia.
based on what? volume? bitflyer has zero trading fees, just like chinese exchanges once did a year ago. back then, we all considered china to be the market leaders based on their volume. it turns out the volume was just fake/churned.
and indeed, russia seems to be behind much of the world in regards to BTC and blockchain technology.
also, there are lots of US traders on sites like bitstamp, bitfinex, poloniex and bittrex. determining which country is dominant in trading activities is very difficult because of international exchanges.
September 06, 2017, 04:15:57 PM
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
They have a large part of Bitcoin mining power in the whole world and no doubt with that and the recent price went down because of that ICO's banning in China and some traders really go with the flow with that but Bitcoin is bouncing back again as this will not hinder the growth of Bitcoin maybe in Ethereum because they are the one who really started this.
September 06, 2017, 11:04:34 AM
China, Germany, Japan and The United States, are the world's largest importers and consequently the world's largest
September 06, 2017, 11:00:55 AM
Well, when ICO was banned in USA, the market didn't get affected. But if something happens in China, Market crashes instantly. Possibly Japan will have the same influence too.
September 06, 2017, 07:38:33 AM
For the mere fact that a news from China could shake the entire crypto industry is enough to know the influence the Chinese have on bitcoin and this has been happening even since time past when they ban exchange sites, the effect was equally felt until the time when bitcoin can grow out of such news, we still have a long way to go.
September 06, 2017, 07:24:12 AM
i thinks yes , because their densely popuated population , and i hear cost of eletricity there is so cheap , and that i think the reason why china have a large Bitcoin player than other country , indirectly it affects the bitcoin price in the market ,.
But bitcoin is still too strong that it is trading nearly for $4600 today as compared August 21, 2017 when it was trading at $4000. These are the factors that may shake bitcoin for a little while but it can beat bitcoin. Bitcoin is the future and its value will go high.
September 06, 2017, 07:21:45 AM
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
yes i think the most part of crypto in china because there are many miner in that country, maybe 40-50% btc miners are placed in china 
September 06, 2017, 07:16:25 AM
A few days ago China just announced that their government banned all ICO activities, and instantly the bitcoin price went down. how do you think about this?
i think peoples get panic and they only want to safe their money that they invested in all ico and because of that, they makes market is panic too and many peoples seems started to sell their bitcoin to gets the money. but i think there will be many more ico in future and they will give the best for their investor.
September 05, 2017, 10:04:31 PM
Yes. The Sleeping Giant has a big part in the cryptomarket. Most of the mining pools are located in China because of the low cost of electricity. Aside from that, most of the crypto related activities are frok China because some of the largest exchange sites are China based and I think, some of the whales are Chinese.
Jihan Wu controls nearly 50% of hashing power, and he comes from China. And this really sucks because he has arguable more power than anyone else in crypto right now and I doubt anyone expected this to be possible with how expensive mining equipment is these days.
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