Topic: Does China have a large part in the world of cryptocurrency? - page 3. (Read 2011 times)
September 05, 2017, 09:09:39 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.
September 05, 2017, 09:08:31 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.
September 05, 2017, 08:46:15 PM
China is top 1 of known of any bitcoin or altcoin activities, 2nd is Russia. No wonder they can control bitcoin price.
September 05, 2017, 08:31:04 PM
China's goverment did ban ICO's Because it's hard to regulate and there is a lot of SCAM ICO's happening right now on the market. China has a big impact here when is regards to cryptocurrency I personally think that China is one of the biggest investors on the market. So that's why it did affect a lot on Bitcoin's price. (Panic selling)
September 05, 2017, 06:56:59 PM
It plays a large part in certain aspects such as mining. As far as I know it's never contributed to one line of Bitcoin's development.
"It?" I don't think any country, per se (or government) has contributed to Bitcoin's development. There are definitely Chinese Bitcoin developers. E.g. Johnson Lau is one of the most prominent Core developers.
but the size of China and its effect is greatly exaggerated in bitcoin.
A year or more ago, Okcoin and Huobi had immense effect on the markets. But with the end of no-fee trading, I'd say that is not the case anymore. Increasingly, I hear people referencing Japanese and Korean exchanges. The market leaders now seem to be Bitfinex and Bitflyer.
Also, even if you downplay the influence of Chinese exchanges on the rest of the market, there's no denying that the majority of ASIC manufacturing and mining power are located there. That's nothing to sneeze at.
September 05, 2017, 06:23:15 PM
Yes, the chinese people owns the higher percentage of cryptocurrency.
The number of people invested in bitcoin and cryptocurrency is very large in China.
So, what happened recently in the market was direct result of China's new law of banning ICOs.
The number of people invested in bitcoin and cryptocurrency is very large in China.
So, what happened recently in the market was direct result of China's new law of banning ICOs.
September 05, 2017, 05:11:02 PM
Before I even understand bitcoin, in the research I have done, yes China is above all countries in the field of trading. I know one thread before that asked which country have the greatest trading in bitcoin and was definitely answered by many that China have a great impact in trading in the world of cryptocurrency.
September 05, 2017, 04:00:57 PM
Even based on the little information I know, I'd say yes (I'd say even 10% is at the very least a large minority!).
1. According to that first news article that surfaced about the China ICO ban, crypto funds from Chinese hands formed about a quarter of ICO funds raised this year.
2. We already know that some of the largest mining pools are based in China, thanks to cheaper costs of operations (aka cheap electricity). If in doubt, you only need to look at the Bitcoin mining hashrate distribution, let's say even a simple one from blockchain.info: https://blockchain.info/pools
3. Further proof? Take a look at the largest markets by volume on coinmarketcap.com. Three of the top 5 are Chinese exchanges.
they are mining most bitcoin/cryto available , but only few hold it on. so yeah they have a big role on how cryptocurrency market running but due decentralized system which means noone could have fully control over the cryptocurrency world even they have everything to rule it. 1. According to that first news article that surfaced about the China ICO ban, crypto funds from Chinese hands formed about a quarter of ICO funds raised this year.
2. We already know that some of the largest mining pools are based in China, thanks to cheaper costs of operations (aka cheap electricity). If in doubt, you only need to look at the Bitcoin mining hashrate distribution, let's say even a simple one from blockchain.info: https://blockchain.info/pools
3. Further proof? Take a look at the largest markets by volume on coinmarketcap.com. Three of the top 5 are Chinese exchanges.
September 05, 2017, 03:59:10 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?
I think yes, why? Because the mining equipments are made in China and for the first time they are tested and run there.
This means that they get the most profit at that time because the hashrate is very low and they earn good money in the early mining phases!
We can see how Dash, Litecoin and Bitcoin equipments are sold immediately even in pre-order for many months, because of the ROI, now remember that they are actually earning before us!
September 05, 2017, 03:52:30 PM
Even based on the little information I know, I'd say yes (I'd say even 10% is at the very least a large minority!).
1. According to that first news article that surfaced about the China ICO ban, crypto funds from Chinese hands formed about a quarter of ICO funds raised this year.
2. We already know that some of the largest mining pools are based in China, thanks to cheaper costs of operations (aka cheap electricity). If in doubt, you only need to look at the Bitcoin mining hashrate distribution, let's say even a simple one from blockchain.info: https://blockchain.info/pools
3. Further proof? Take a look at the largest markets by volume on coinmarketcap.com. Three of the top 5 are Chinese exchanges.
they are mining most bitcoin/cryto available , but only few hold it on. so yeah they have a big role on how cryptocurrency market running but due decentralized system which means noone could have fully control over the cryptocurrency world even they have everything to rule it. 1. According to that first news article that surfaced about the China ICO ban, crypto funds from Chinese hands formed about a quarter of ICO funds raised this year.
2. We already know that some of the largest mining pools are based in China, thanks to cheaper costs of operations (aka cheap electricity). If in doubt, you only need to look at the Bitcoin mining hashrate distribution, let's say even a simple one from blockchain.info: https://blockchain.info/pools
3. Further proof? Take a look at the largest markets by volume on coinmarketcap.com. Three of the top 5 are Chinese exchanges.
September 05, 2017, 03:34:54 PM
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 ,.
September 05, 2017, 01:48:05 PM
Even based on the little information I know, I'd say yes (I'd say even 10% is at the very least a large minority!).
1. According to that first news article that surfaced about the China ICO ban, crypto funds from Chinese hands formed about a quarter of ICO funds raised this year.
2. We already know that some of the largest mining pools are based in China, thanks to cheaper costs of operations (aka cheap electricity). If in doubt, you only need to look at the Bitcoin mining hashrate distribution, let's say even a simple one from blockchain.info: https://blockchain.info/pools
3. Further proof? Take a look at the largest markets by volume on coinmarketcap.com. Three of the top 5 are Chinese exchanges.
1. According to that first news article that surfaced about the China ICO ban, crypto funds from Chinese hands formed about a quarter of ICO funds raised this year.
2. We already know that some of the largest mining pools are based in China, thanks to cheaper costs of operations (aka cheap electricity). If in doubt, you only need to look at the Bitcoin mining hashrate distribution, let's say even a simple one from blockchain.info: https://blockchain.info/pools
3. Further proof? Take a look at the largest markets by volume on coinmarketcap.com. Three of the top 5 are Chinese exchanges.
September 05, 2017, 01:40:51 PM
yes, that's why we see bitcoins dump now, even though it's decentralized
September 05, 2017, 01:29:15 PM
Rethinking the post title - Does China have a large part in the world of cryptocurrency?
It did, it won't have for much longer
It did, it won't have for much longer
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September 05, 2017, 01:25:39 PM
China is a big player in cryptomarket, but I dont think we must underestimate the western countries, there are a lot of players here investing heavily in cryptocurrency, it would not surprise me if some dirty banks allready also invested in crypto since they are the most dirtiest of people, (read government), china as a whole is a very big player but individually dont forgget the people of western countries. In crypto you never know who is the dirtiest.
September 05, 2017, 01:23:32 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?
Yeah surely they are great in it. China is also best miner in the world and most of the hash power is directed towards china which means most of the bitcoin is in china holdings. For sure after knowing the news about ICO projects being banned people might have sold their altcoins to bitcoin and then converted everything into fiat. Thus could be possible reason as to why the major dump occurred recently with just single announcement.
September 05, 2017, 01:21:34 PM
from the conclusion that the price falling down, china must be a big player that join the world of cryptocurrency.
because lot of miners also the whale player that hold lot of bitcoin come from china, also the electriciy on china is cheap, this encourage miner to go all out in mining.
China is indeed a dominant country when it comes to cryptos. But I don't think that it is the largest part. There was a dip in the market yesterday due to ICO ban in China. But that would have happened even if there was a ban in some other country. It was a negative news and such news do have short term impact on market. Market is back on track again today. The dip didn't last 24 hrs properly. because lot of miners also the whale player that hold lot of bitcoin come from china, also the electriciy on china is cheap, this encourage miner to go all out in mining.
September 05, 2017, 01:09:08 PM
from the conclusion that the price falling down, china must be a big player that join the world of cryptocurrency.
because lot of miners also the whale player that hold lot of bitcoin come from china, also the electriciy on china is cheap, this encourage miner to go all out in mining.
because lot of miners also the whale player that hold lot of bitcoin come from china, also the electriciy on china is cheap, this encourage miner to go all out in mining.
September 05, 2017, 12:35:28 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?
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.
True. Considering how the gov't there is quite corrupt, it's not unlikely that people with good connections already caught wind of it several days before the announcement. Also, doesn't the Chinese government itself hold bitcoins? It seems that whatever happens, they'd always win.
I wonder when will other governments would jump the band wagon to try to get into the cryptocurrency industry. Are there even governments out there buying bitcoins?
September 05, 2017, 12:21:45 PM
They have a lot of miners, traders and some investors so I say yes they made a large part in the world of crypto currency and for some reason whenever something happen in China it also affect some part of crypto currency.
That's true. A lot of money is flowing into bitcoin from China. One can argue that their exchanges were faking volume to appear bigger than they really were, but still after the regulatory actions from the government their real volume is impressive. So, we have a large number of wealthy investors in China, we have exchanges making millions on fees, and we have mining companies that supply the market with freshly mined coins.
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