Topic: Is CHINA CONTROLLING Bitcoin? - page 31. (Read 92666 times)

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. 


Definitely China may have a big influence in Bitcoin market as you stated and yes influence and control is two different things.

I think China had great influence om Bitcoin Market Price.  They have the majority of the volume of Bitcoin trades.  Aside from that whenever a negative News happen in China bitcoin price goes down and the opposite when there is good press in that Country.  But I don't think that China is controlling Bitcoin.  Influence is different than controlling.

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.

it may be right that China has a great contribution in bitcoin because most of the people are from China but still i can say that they are not influencing bitcoin and they are not controlling bitcoin because controlling bitcoin is not so easy.

I think it's funny that there is a popular vote. What is that going to do? 
This is how we determined that the earth is flat and witches cause disease.

If you simply read and learn about bitcoin it is obvious that anyone with a funded private key controls those funds. No one on the network can do anything about your money and you can't stop anyone or force anyone to do what they will with their money. That's the idea.

It is certainly true that a Chinese mega mine operator has greater influence over the bitcoin economy and even the direction of software development. But that is because he did more. Bitcoin rewards investment in things like infrastructure, capitol, participation (i.e. running a full node), and risk taking. It also is inherently favored where energy costs and regulation is low.  In the early days north America dominated bitcoin but times have changed.

There is absolutely nothing stopping any other country, group, or individual from going bigger than China. It would cost a lot because the Chinese put up a lot themselves. They risked their money when bitcoin was not so certain to succeed and now they are reaping the rewards. So no one should be whining about someone else's success when they are in a fair contest with them. 

If you want your people, whoever that may be, to be a check on concentrating the network in China then do something about it. Meet with your government representatives about bitcoin and tell them you want the local economy to be favorable. Ask the businesses you use to take bitcoin and shop at the ones who do. Run a full node. Organize with others and start a bitcoin related business. You can do something to get something.

I do agree that China is quite powerful and aggressive in most aspects, but from my perspective, I don't assume that China controls everything although it seems to be that they are the boss. Bitcoin doesn't belong only to China and isn't under control of China, they don't have the right or power to bring bitcoin to an end if they want to. They can't just suddenly take people's bitcoin away.

Yeah that what i mean, china is very influential on bitcoin world. I am sure about that because in china there are sp many user of bitcoin and many big boss in business (mining or etc) which bitcoin related.

Yes Basically Bitcoin is always addressed as decentralized cryptocurrency but the facts are very different. Till date whatever bitcoins mined out of them 90+% of bitcoin only china stake. Remaining bitcoins are in market.

So its clear that majority of bitcoins is centralized in china.

i think China control everything. They are new super power. Their economy is crazy. U know they buy Milan football team coz they have lots of money where do they spent dont know and also lots of football stars go to Chinese league like Tevez. Also they can control Bitcoin too.

These just random numbers pulled from the ass, nobody can prove exactly plus many bitcoin lost that mined early on

Yup I heard that n chain many gamblers also there and very large type of bitcoin will happen in China. Maybe you are right in China their numbers of bitcoin miners are there because of that the bitcoin users also high in China. But I don't believe only in China people having 85% of bitcoin amount of the world. 

Yes, China is owning nearly 85% bitcoin amount of the world. there are many bitcoin miners in china.
Once the china government warned the bitcoin exchange and yes, this waining made bitcoin down deeply at once. Who can do it?

Maybe in a couple decade language of world is Mandarin and not English with massive debt US is into China. Whole world owe them money. China owns Bitcoin like Arabs own oil.

Bravo. We have to hand it to China. They always beat my expectations. For sometime (or a moment at least) I was hoping either Americans or Europeans will take the lead but It doesn't seem to happen anytime soon
 Even If It'll happen, Not sure It'll be soon.

china always leading nowadays , no matter in what kind field
so does in bitcoin world too , they are always be the first do anything without fear
they mining bitcoin with whatever risk in there since first time bitcoin invented
and now they just have to collect it all , the risk is paid
and the market is really played by chinese , not USA not european.

I don't think the countries you mentioned will ever be able to overtake China's leading position in Bitcoin. Bitcoin is definitely popular there, but no.

If I have to name up a country with the potential to surpass China, then it has to be India due to its size and possibilities of growth.

It's a fact that in wealthy countries the need for something as Bitcoin is very low. It has to come from a part of the world where wealth isn't directly available to the majority of the people.

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.

Due to the down in price of bitcoin lately caused by what happened in China. Hope you guys can quote me right when I said China controls bitcoin.

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.

I really don't think that China is controlling bitcoin, all they can do is they can make a big bitcoin mining farm in the world but not controlling it generally. Because it is decentralized.