Is CHINA CONTROLLING Bitcoin? - page 10.

deisik

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Quote from: Tecmand on April 28, 2017, 12:23:20 PM

Quote from: QuestionAuthority on April 15, 2017, 10:54:54 PM

Quote from: Jewell on April 15, 2017, 05:26:00 PM

Quote from: ?? on ??

Quote from: somacoin on May 08, 2016, 04:06:03 PM

People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.

Do you think that China is controlling/ruling bitcoin yes or no?

Long long ago,when china had huge mining farms and people didnt know much about bitcoin, chinese were easily able to manipulate bitcoin market by dumping their bitcoins.But not now as more people all over the world have realized bitcoin's true potential and due to PBOC regulations,the chinese were now unable to create fake buy and sell orders and they even could not withdraw their bitcoins from exchanges.Dragon era is not alive now.

to me i think still china has the huge mining forms and more investors than any other country but still i will like to say that they are not controlling bitcoin. as bitcoin is present in all over the world and the users of bitcoin are increasing from time to time therefore it is now becoming more difficult to manipulate the price of bitcoin or to control bitcoin at all.

Really? Mark Karpeles proved that one guy and two bots can manipulate and control the worldwide Bitcoin exchange rate.

Isn't it curious that currently Coincheck in Japan (last known home of Mark Karpeles) has double the volume of the next two largest exchanges. Isn't it funny that Coincheck became the largest exchange in the world right about the time Karpeles was released from prison. Wonder if he started giving pointers to the Yakuza (Japanese mafia) in prison to keep the number of ass rapes down to a minimum and they helped him restart the old business with stolen bitcoins. LOL

he could not do it now. At present, no exchange controls more than 20% of the world trade

Well, you seem to not follow recent events in Bitcoin world very closely

The irony is that while it is certainly true that no exchange controls the majority of coins (at least, nominally), right now we basically see the same process going on. I refer to Bitfinex, obviously. Two weeks ago clients of this exchange started to have issues withdrawing their fiat funds and later they couldn't make fiat deposits either. And Bitcoin (as well as other cryptocurrencies listed at this exchange) started to be traded at a premium there. And what do you think? The price at other exchanges started to rise too just because Bitfinex happens to be the largest Bitcoin exchange in the world (or one of largest). The bottom line is that we haven't yet gone too far from the effect we had seen at Mt. Gox

Tecmand

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Quote from: QuestionAuthority on April 15, 2017, 10:54:54 PM

Quote from: Jewell on April 15, 2017, 05:26:00 PM

Quote from: ?? on ??

Quote from: somacoin on May 08, 2016, 04:06:03 PM

People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.

Do you think that China is controlling/ruling bitcoin yes or no?

Long long ago,when china had huge mining farms and people didnt know much about bitcoin, chinese were easily able to manipulate bitcoin market by dumping their bitcoins.But not now as more people all over the world have realized bitcoin's true potential and due to PBOC regulations,the chinese were now unable to create fake buy and sell orders and they even could not withdraw their bitcoins from exchanges.Dragon era is not alive now.

to me i think still china has the huge mining forms and more investors than any other country but still i will like to say that they are not controlling bitcoin. as bitcoin is present in all over the world and the users of bitcoin are increasing from time to time therefore it is now becoming more difficult to manipulate the price of bitcoin or to control bitcoin at all.

Really? Mark Karpeles proved that one guy and two bots can manipulate and control the worldwide Bitcoin exchange rate.

Isn't it curious that currently Coincheck in Japan (last known home of Mark Karpeles) has double the volume of the next two largest exchanges. Isn't it funny that Coincheck became the largest exchange in the world right about the time Karpeles was released from prison. Wonder if he started giving pointers to the Yakuza (Japanese mafia) in prison to keep the number of ass rapes down to a minimum and they helped him restart the old business with stolen bitcoins. LOL

he could not do it now. At present, no exchange controls more than 20% of the world trade.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: Jewell on April 15, 2017, 05:26:00 PM

Quote from: ?? on ??

Quote from: somacoin on May 08, 2016, 04:06:03 PM

People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.

Do you think that China is controlling/ruling bitcoin yes or no?

Long long ago,when china had huge mining farms and people didnt know much about bitcoin, chinese were easily able to manipulate bitcoin market by dumping their bitcoins.But not now as more people all over the world have realized bitcoin's true potential and due to PBOC regulations,the chinese were now unable to create fake buy and sell orders and they even could not withdraw their bitcoins from exchanges.Dragon era is not alive now.

to me i think still china has the huge mining forms and more investors than any other country but still i will like to say that they are not controlling bitcoin. as bitcoin is present in all over the world and the users of bitcoin are increasing from time to time therefore it is now becoming more difficult to manipulate the price of bitcoin or to control bitcoin at all.

Really? Mark Karpeles proved that one guy and two bots can manipulate and control the worldwide Bitcoin exchange rate.

Isn't it curious that currently Coincheck in Japan (last known home of Mark Karpeles) has double the volume of the next two largest exchanges. Isn't it funny that Coincheck became the largest exchange in the world right about the time Karpeles was released from prison. Wonder if he started giving pointers to the Yakuza (Japanese mafia) in prison to keep the number of ass rapes down to a minimum and they helped him restart the old business with stolen bitcoins. LOL

Jewell

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Quote from: ?? on ??

Quote from: somacoin on May 08, 2016, 04:06:03 PM

People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.

Do you think that China is controlling/ruling bitcoin yes or no?

Long long ago,when china had huge mining farms and people didnt know much about bitcoin, chinese were easily able to manipulate bitcoin market by dumping their bitcoins.But not now as more people all over the world have realized bitcoin's true potential and due to PBOC regulations,the chinese were now unable to create fake buy and sell orders and they even could not withdraw their bitcoins from exchanges.Dragon era is not alive now.

to me i think still china has the huge mining forms and more investors than any other country but still i will like to say that they are not controlling bitcoin. as bitcoin is present in all over the world and the users of bitcoin are increasing from time to time therefore it is now becoming more difficult to manipulate the price of bitcoin or to control bitcoin at all.

stompix

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Blackjack.fun

Now that the real volume of the huge Chinese market has shown it's true form , or let's say it's true miniature size can we stop talking about China controlling this and that?

I know it's tempting to see conspiracies everywhere to think about complicated stories and to try to act against a threat that doesn't exist but let's be honest.
China's influence in bitcoin price is minimal.

If you blame pump and dumps on Chinese traders..... how about the goxbot?

ivanpoldark

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Definitely, it is traced China`s desire to control the main Bitcoin bulk. China already has strong influence on the world goods, food market. This country even buy agricultural land around the world.

Deep BTC

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Quote from: Salazarian on April 03, 2017, 02:45:27 PM

Quote from: Deep BTC on April 03, 2017, 01:26:33 PM

Quote from: somacoin on May 08, 2016, 04:06:03 PM

People here have claimed that Bitcoin is in fact controlled and ruled by China, as mining is centralized by Chinese mining institutions.

Do you think that China is controlling/ruling bitcoin yes or no?

It is not possible to know exactly. But we know that China is a serious influence on bitcoin prices.
A large majority of miners operate in China. China does not directly control bitcoin. But I think they control the bitcoin indirectly.

to me i think they where influencing bitcoin in future, but now as soon as the users of bitcoin are increasing so their influence on bitcoin is also decreasing so we can say that they are not now influencing the price of bitcoin any more.

As in other investment instruments, bitcoin is also valued according to people's wishes.
News in China is still affecting bitcoin. But the actual control is in the hands of the whales. When whales want, they can raise and lower the price.

pinkpanther03

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Quote from: somacoin on May 08, 2016, 04:11:58 PM

Quote from: Donu on May 08, 2016, 04:07:59 PM

Does it really matter?

To me it matters, that's why I'm asking you guys.
Is China really controlling Bitcoin?
Is Bitcoin really controllable?
If so, is it China?

Is China really controlling Bitcoin?
For you able to know, China is not controlling Bitcoin, it maybe they have plan to do it but they can't. Why they can't? This may know most of the community here which is the decentralization this features of bitcoin is one of the powerful thing it has that's why many are trying but always fail to do so.

Is Bitcoin really controllable?
Bitcoin is controllable only by You, It can't be control by anyone unless you give your password or private key.
Always remember that Bitcoin is not regulated industry it is unregulated concepts.

QuestionAuthority

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You lead and I'll watch you walk away.

No, they mostly control dim sum. If you look closely the baby pig has a Casascius coin shoved up its ass.

youdacapt

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GOD is TRUE

Quote from: JL421 on April 06, 2017, 06:34:02 PM

Quote from: coinchaser007 on March 26, 2017, 01:42:46 AM

Either way they like playing the pump and dump game, which affects the volatility.� Main reason why I invest mostly in other coins.

This is what you are doing wrong. It think this is the best time for you to sell your altcoins and make a return to bitcoin as the latest news is japan has officially adopted the use of bitcoin so because this i'm 90% sure the control of china over bitcoin will drastically reduce over the coming years and finally we will be free from any kind of control.

As we know china has specialized more concerned with quantity, blockstreamers ought not to be outdone and more concerned with the quality of the solution to kick out BU out of line, in this case SEGWIT always perform unceasing development. On the other hand if we are talking about Asia, China does have full to control the volume market, but after getting the intervention of government, they are very weak.

Referring to the rules of KYC/AML seems Japan has the same concept as China, I think it would be centralization someday.

OrangeII

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no, I think it is very difficult to control bitcoin, because to control bitcoin, you should really have ample amounts of bitcoin itself. in fact, very many people hold bitcoin in large quantities, so it is impossible to control.

deisik

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Quote from: hulla on April 06, 2017, 06:17:57 AM

Quote from: deisik on April 03, 2017, 01:42:03 PM

Quote from: ?? on ??

You guys are talking about this like China as a nation controls the mining power.

China doesn't control Bitcoin because their geographical location has the most hashing power. Individual pools are what matter, or pools that are in a coalition and are aiming to control Bitcoin one way or another.

I'm not going to lie, this is starting to get annoying. Just because mining power is centered around a country doesn't mean they control Bitcoin. You can't control Bitcoin just by having the most hashing power in an area. Are you even thinking about how the technology works?

It is not about China as such

As about some dude from China (code-named Jihad), who is rumored to be the mining king controlling directly one of the biggest mining pools, namely, the notorious AntPool and who is also rumored to be indirectly controlling a few other important pools as well as mining equipment manufacturers. But since this mining magnate lives in China (if I'm not mistaken), it is said that China is controlling Bitcoin mining and thus important part of Bitcoin infrastructure as well

If I'm not mistaken the name Jihad is arab name and if that's the case then the big whale is not Chinese but Arab. In addition, the controller of bitcoin are the miners and the software developer and you can quote me right due to what happened in terms of block size debation

You seem to have missed the funny part of it

That dude's real name is Jihan Wu, and he is certainly Chinese by his looks. The guy is the real Bitcoin mining baron and mining equipment tycoon by any name, who is controlling Bitcoin in China. He is dubbed Jihad because he declared jihad ("holy war") against Bitcoin. More specifically, not against Bitcoin as such, but against all attempts that will ruin or severely impair his mining empire (SegWit, Lightning Network, to name a few)

delliaerd

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Quote from: JL421 on April 06, 2017, 06:34:02 PM

Quote from: coinchaser007 on March 26, 2017, 01:42:46 AM

Either way they like playing the pump and dump game, which affects the volatility.� Main reason why I invest mostly in other coins.

This is what you are doing wrong. It think this is the best time for you to sell your altcoins and make a return to bitcoin as the latest news is japan has officially adopted the use of bitcoin so because this i'm 90% sure the control of china over bitcoin will drastically reduce over the coming years and finally we will be free from any kind of control.

Yes I agree with you, not not only japan, even Russia and USA can make the dominations bitcoin of china is over. I also think tjat the volatility of bitcoin is not negative thing. Because its give me chance to get profit. I also agree that invest in bitcoin is better than invest in altcoin, because altcoin can be die anytime.

JL421

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Quote from: coinchaser007 on March 26, 2017, 01:42:46 AM

Either way they like playing the pump and dump game, which affects the volatility.� Main reason why I invest mostly in other coins.

This is what you are doing wrong. It think this is the best time for you to sell your altcoins and make a return to bitcoin as the latest news is japan has officially adopted the use of bitcoin so because this i'm 90% sure the control of china over bitcoin will drastically reduce over the coming years and finally we will be free from any kind of control.

MMA

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Quote from: andrew24p on April 03, 2017, 04:43:55 PM

The chinese miners are not controlling it, but they are definitely influencing many people involved. Honestly in my opinion we should move back to a gpu centric algo and recentralize it. Maybe a very memory intensive algo so asics would be hard to develop for.

we have to accep the fact that the number of miners in china are more that any other country but still now it is even becoming difficult to control bitcoin. actually the users of bitcoin are now available in all over the world.

xvids

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Well I think they are not it is everyone who is controlling the price,
But I don't know if the china is considered as 1 of the big whales in bitcoin then it could be manipulating the price.

CorePrime95

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How do we know that the most miners are in China? Maybe the NSA has big underground mining too?

daringdiscovered

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Quote from: andrew24p on April 03, 2017, 04:43:55 PM

The chinese miners are not controlling it, but they are definitely influencing many people involved. Honestly in my opinion we should move back to a gpu centric algo and recentralize it. Maybe a very memory intensive algo so asics would be hard to develop for.

Correct, China could never touch the bitcoin network because it was made to be decentralize, and no one could change it, excpet Satoshi Nakamoto. Also, since most of the miners are from China, then that is why they can easily manipulate the bitcoins price by dumping it, taht is why most of us are thinking that they are the one who is Controlling it, but the truth is they are not. That is the only thing they could do about bitcoin, and if they want to surpass bitcoin, then they have to make a new coin which can do such thing.

Ewox

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I don't think any country is controlling Bitcoin. Although there are a lot of miners from China but it doesn't mean they control it. If China did then it would be on the news and people would go gaga about it especially traders.

kvlolo

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Is there a country that is able to control bitcoin so far?

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