Topic: Is CHINA CONTROLLING Bitcoin? - page 29. (Read 92645 times)
With the level of mining difficulty so high, nobody can control bitcoin. Even at today's price, mining is a losing proposition for any duration under 24 months. We're lucky the miners don't "go on strike" and just refuse to sell. Once that happens BTC will hit $10,000/coin overnight.
The exchanges had made another bubble into bitcoin, something i thinked werent possible to happen, but well exchanges does have all the tools to make a huge pump and bring the market into it, it were amazing opportunity to sell bitcoin, knowing the price would dump sooner or later. But if we do see the hash the most miners are located at China even without them having all at one pool they have huge influence over the bitcoin at the moment.
Currently no one really controls bitcoin but on how the market goes where the price go up and down depending on how much people buy/sell.In breif no one has the special power to control the network of bitcoins there the group of people that holds the most. Chinese people, they are one of those people that are making to helps griwing the economy also Chinesec has a good economy.That means the Chinese people has the ability to control bitcoins.They are part of this.
Bitcoin is mentioned as a decentralized currency. But unfortunately, bitcoin is mostly mined in china and it has given china an upper hand in volume of bitcoins.Thus, when they want to dump bitcoin, they can just sell their bitcoins on large volumes and again when its price falls down, they can buy it much cheaper.A small change in china economy also causes a noticable effect in bitcoin price all over the world.Even last week, we saw bitcoin price rose to $1150 and within two days it fell to $750 due to policy change by PBOC.
The dump was obviously not due to policy change by the Central Bank of China
Simply because the pump wasn't either. The price basically plunged to levels from where it had started to grow, and right now strong support around 800 dollars per coin is keeping the price at levels above 800. The assaults launched by the PBOC on major Chinese exchanges may be as fake as the Bitcoin price pump that the Chinese price manipulators had pulled off just before that. Next time, take it as an opportunity to sell dear and buy cheap
Bitcoin is mentioned as a decentralized currency. But unfortunately, bitcoin is mostly mined in china and it has given china an upper hand in volume of bitcoins.Thus, when they want to dump bitcoin, they can just sell their bitcoins on large volumes and again when its price falls down, they can buy it much cheaper.A small change in china economy also causes a noticable effect in bitcoin price all over the world.Even last week, we saw bitcoin price rose to $1150 and within two days it fell to $750 due to policy change by PBOC.
It's a BiG NO NO!!! China doesn't control bitcoin!! China is only the biggest user of bitcoin because they have the biggest population among the rest of the countries worldwide. We can never tell who controls bitcoin because even the real founder or maker of it is still unknown. We only knew that he is Satoshi Nakamoto but no one can really prove it.
China is not only the biggest User of bitcoins but if you investigate you will find the 70% of the Bitcoin mining is being done in China. For this reason, they are the controllers of bitcoins and its price more importantly. Rest of the world is just following them.
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?
Do you think that China is controlling/ruling bitcoin yes or no?
Bitcoin's control is never anyone. But a large majority of mining activities are carried out in China. Therefore, we can say that the bitcoin is controlling the Chinese.
For example, it was discussed how the Bitcoin trade would be organized by Chinas financial regulators. After this discussion, the price of bitcoin fell. So even if it is not direct, we can say that the bitcoin is controlled indirectly by the Chinese.
It's a BiG NO NO!!! China doesn't control bitcoin!! China is only the biggest user of bitcoin because they have the biggest population among the rest of the countries worldwide. We can never tell who controls bitcoin because even the real founder or maker of it is still unknown. We only knew that he is Satoshi Nakamoto but no one can really prove it.
China is controlling bitcoin in the sense that it is the world's most populated country and most importantly Chinese adopted bitcoins early and as their markets are not stable in the last few months, a chunk of Chinese population is arming themselves with bitcoins to steer away from the possible threat of financial crisis (Majority of China's people were using bitcoins before Greece crisis and this crisis made them smarter).
Bitcoin is decentralized so i don't think it can be easily controlled even by the world's largest populated country.
Bitcoin is decentralized so i don't think it can be easily controlled even by the world's largest populated country.
China can't control the bitcoin, period. lol
yes i also think so that China cannot control bitcoin. actually bitcoin is a universal decentralize currency and no one can control it. because it is difficult for a single person or a group of persons even for a state to control bitcoin. hope that bitcoin will continue its free state for ever. Correct, somehow people from China were/are actively involved in bitcoin mining and trading as well. Till date biggest chunk of bitcoin Market is traded there. Thus it is understandable that ripples from these Chinese exchanges felt all over world. Somehow in bitcoin world chinese market has become parallel to the status of US dollar in regards with ability to affect rest of world.
China can't control the bitcoin, period. lol
yes i also think so that China cannot control bitcoin. actually bitcoin is a universal decentralize currency and no one can control it. because it is difficult for a single person or a group of persons even for a state to control bitcoin. hope that bitcoin will continue its free state for ever. Breaking news on Bitcoin in China (seems to be real)
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
It is just investigation, not shut down them, fuck China, why this stupid country always hating bitcoin?
It doesn't matter what it is
What matters is that price has already collapsed another 100 dollars today. Whether it should collapse yet more remains to be seen, but such actions don't bode well for Bitcoin overall. So don't get surprised if Bitcoin gets finally banned in China for the reasons mentioned (money laundering, etc). The Chinese Yuan hasn't been doing very well for the last year, so such attitude toward Bitcoin by the Chinese government can be easily explained
If Renminbi continues to depreciate at these rates, expect more blood on the streets
these days the only control the Chinese have on bitcoin is the rest of the world thinking they are bigger than they really are.
the volume on their exchanges are fake and we all know it, many of the hashrates come from pools not one place, and so many other things but when it comes to talking about their power and control everybody forgets all that.
the volume on their exchanges are fake and we all know it, many of the hashrates come from pools not one place, and so many other things but when it comes to talking about their power and control everybody forgets all that.
Breaking news on Bitcoin in China (seems to be real)
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
It is just investigation, not shut down them, fuck China, why this stupid country always hating bitcoin?
I've less concern about China looking...more what they will find out about fake volume and other games the exchanges MAY be doing of an iffy nature.
Add an agenda against crypto and/or they find out there is a real move of $$$ out of china by the customers too boot.
Well even if a fair investigation this is gonna suck the next 2-3 months wondering...then blamo ....an announcement.
The only threat China has is themselves, they can't even breathe their own air.
Breaking news on Bitcoin in China (seems to be real)
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
It is just investigation, not shut down them, fuck China, why this stupid country always hating bitcoin?
I've less concern about China looking...more what they will find out about fake volume and other games the exchanges MAY be doing of an iffy nature.
Add an agenda against crypto and/or they find out there is a real move of $$$ out of china by the customers too boot.
Well even if a fair investigation this is gonna suck the next 2-3 months wondering...then blamo ....an announcement.
If so, we'd already have bitcoin as a real life currency. Maybe.
Breaking news on Bitcoin in China (seems to be real)
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to People's Bank of China is due to "possible market manipulation, money laundering, unauthorized financing and other issues"
It is just investigation, not shut down them, fuck China, why this stupid country always hating bitcoin?
Breaking news on Bitcoin in China (seems to be real)
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to the People's Bank of China, the investigations are due to "possible market manipulation, money laundering, unauthorized financing and other issues"
The People's Bank of China (Central bank of China) together with Shanghai and Beijing police departments has launched an assault on Bitcoin exchanges in Beijing and Shanghai including such exchanges as BTCC, Huobi and OKCoin. The pretext is as usual and according to the People's Bank of China, the investigations are due to "possible market manipulation, money laundering, unauthorized financing and other issues"
Actually i'm start thinking about that since yesterday, because yesterday when the price of bitcoin decrease, China bitcoin market like Huobi is the first one that make bitcoin's price fall down. Because of that i'm thinking that China have a big affect into bitcoin and the price too. I don't know is it right or not, but it's my opinion.
Most of bitcoin is traded using chinese yuan. China has really big domination of bitcoin. But I am sure that it will not forever. Becouse big country lime USA, Russia and Japan is try to be big player of bitcoin too. 
China can't control the bitcoin, period. lol
yes i also think so that China cannot control bitcoin. actually bitcoin is a universal decentralize currency and no one can control it. because it is difficult for a single person or a group of persons even for a state to control bitcoin. hope that bitcoin will continue its free state for ever. Jump to: