Actually china is not controlling bitcoins .they are investing a lot of money in the mining of bitcoins .bitmain is the biggest company in the mining of bitcoins .well if u buy one of them u are likely to earn a lot of bitcoins .kudoo
A lot of people are saying that China is controlling most of the Bitcoin mining, and while that might be true, they are not controlling Bitcoin as a whole.
Plus a lot of people that are saying that China controls Bitcoin mining are really exaggerating.
No exaggeration..
you can easily find these informations, and you'll see that the majority comes from china.
it's not like they are manipulating bitcoin right now, but what they can do with all this power...
with more than 51% of the power china can do a big mess in bitcoin, not only attacking but imagine if china government tries to ban bitcoin(like has been discussed by them), that would crash the price.
ps: i dont believe they would ban bitcoin - and i know how hard it would be - but a simple attempt would be enough to see this crash.
Operators of Chinese mining farms are only interested in the financial aspect (profits) that their farms are generating, and not how to mess up things.
If they want to cause a massive amount of harm, it will not only harm Bitcoin, but also themselves as they have huge coin stashes and millions worth hardware when it comes to the larger farms.
Theoretically it's possible to harm Bitcoin, but as long as they are making millions each year, there is no point into making a mess of Bitcoin. Doesn't make sense.
Governments are another aspect of this story. If they were planning to ban Bitcoin completely, they would have done it already. I don't think they ever will.
