Well in the sense..the Chinese 'get crypto' and are a few years ahead on the learning curve..then add the amount of folk that like to 'speculate' on anything and the cheap
electric power...well....if it was a teeter totter the rest of the world crypto wise would not have enough weight to play that game with china action as it exists now.
Actually rest of the world needs to catch up on Chinese Crypto Kool Aid consumption..but gonna take a few years of wild price action first imho.
Topic: Is CHINA CONTROLLING Bitcoin? - page 30. (Read 92666 times)
china is a big country with many bitcoin users. in china bitcoin is growing very large. even today the biggest turnaround bitcoin be there. if there are people who have a majority of bitcoin then it could happen, and they are the china.
We say bitcoin is a decentralised currency and cannot be controlled by any one.But in recent, we saw a great pump followed by a big dump in bitcoin price due to situations in china. Price suddenly rose from $750 to $1150 followed by a sudden fall to $850.So we can say bitcoin is partially controlled by china.
I think so,certainly very reasonable if China which controls bitcoin. when the Chinese New Year soon and bitcoin mining companies many dismiss employees, of course, the stock bitcoin not be increased but demand remains high, of course this is causing bitcoin prices rose dramatically.
We say bitcoin is a decentralised currency and cannot be controlled by any one.But in recent, we saw a great pump followed by a big dump in bitcoin price due to situations in china. Price suddenly rose from $750 to $1150 followed by a sudden fall to $850.So we can say bitcoin is partially controlled by china.
I do believe China has a big say now because of the sheer volumes of trading and mining going on in China so it's up to the rest of the world to start getting more aggressive in accumulating bitcoin so they can make more of a balance happening.
China can't control the bitcoin, period. lol
Enjoy your Delusions.
China can't control the bitcoin, period. lol
The Fact, that China can deny you the Use of your BTC, sure seems like Control to me.
Again... 'China' is not a single entity.
... So no one should be whining about someone else's success when they are in a fair contest with them.
... You can do something to get something.
... You can do something to get something.
Thank you for derailing this bitch-fest by injecting some sanity to the discussion.
China can also Freeze your BTC , where you can't use it. (51% attack Security issue)
(Just like a Bank can Freeze your checking account.)
FYI:
The Fact, that China can deny you the Use of your BTC, sure seems like Control to me.
They have equal influence than the rest of the world on bitcoin forks
No they don't have equal influence!
China have ~67% influence, meaning they determine which fork is the most secure and which fork will survive.
... So no one should be whining about someone else's success when they are in a fair contest with them.
... You can do something to get something.
... You can do something to get something.
Thank you for derailing this bitch-fest by injecting some sanity to the discussion.
Even if China is controlling the price of bitcoin, which is probably true, it doesn't mean that they are "ruling bitcoin".
They have equal influence than the rest of the world on bitcoin forks, and they don't have any more power over the bitcoin network than anybody else in the world, do they? They might have traders trading bitcoin a ton but they don't really "rule" bitcoin.
They have equal influence than the rest of the world on bitcoin forks, and they don't have any more power over the bitcoin network than anybody else in the world, do they? They might have traders trading bitcoin a ton but they don't really "rule" bitcoin.
No country can control bitcoin, it's like no country can control gold. It is a publicly traded commodity and whenever you have money, you can just buy it. China does have the most mining power of the bitcoin though.
I think not state control, but bitcoin users from that country who have more power because it has a very large total users,so when they do something, it will give effect to the bitcoin
No country can control bitcoin, it's like no country can control gold. It is a publicly traded commodity and whenever you have money, you can just buy it. China does have the most mining power of the bitcoin though.
yeah, and that power makes China can pump the price of bitcoin as long as Chinese bitcoin users keep buying bitcoin and so on. so this power makes an assumption that China is controlling bitcoin. we jus can't say that China controls bitcoin or not. 
No country can control bitcoin, it's like no country can control gold. It is a publicly traded commodity and whenever you have money, you can just buy it. China does have the most mining power of the bitcoin though.
This title is completely miss leading, china the REPUBLIC is not controlling bitcoin what so ever.
Assuming that there is a coalition of chinese miners who are trying to control bitcoin is a totally different premise.
He is not stating anything, it's a question.Assuming that there is a coalition of chinese miners who are trying to control bitcoin is a totally different premise.
China is in a way controlling the price, because of the amount they are mining, and have stored. They can dump it all to influence the market whenever they want and start a panic and try to buy back at lower prices.
When you are a whale, you can influence the market, but when you are a coalition of whales...
This title is completely miss leading, china the REPUBLIC is not controlling bitcoin what so ever.
Assuming that there is a coalition of chinese miners who are trying to control bitcoin is a totally different premise.
Assuming that there is a coalition of chinese miners who are trying to control bitcoin is a totally different premise.
... So no one should be whining about someone else's success when they are in a fair contest with them.
... You can do something to get something.
... You can do something to get something.
Thank you for derailing this bitch-fest by injecting some sanity to the discussion.
China has always been technological advanced than the others. You mad because they knew to get in on mining early the the rest of the idiots. If its a competition and real threat. Those billionaires who are worried should invest into some mining power farms.
Yes there is no doubt about this that Chinese are the most technologically advanced people most of the bitcoin miners are from China. They are holding most of the shares of bitcoin, and they may have the power to manipulate the price of bitcoins now a days. These are enough to conclude that bitcoin controlling bitcoins ? 
Exactly. While China may have a huge leg up on mining, it doesn't stop anyone in any other country from putting a check on them by starting their own operation. I wish I could hit the lottery and startup a mining operation & pool in the states as I believe that is one of the greatest influences one could truly have.
This is why China is not controlling Bitcoin. Anyone can set-up a wallet, do transaction without China's Permission, can mine it and get Bitcoin from mining without China interferring with the operation.
Indeed! There is a big difference between "control" and "price influence".
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