Is CHINA CONTROLLING Bitcoin? - page 47.

acroman08

legendary

Activity: 2520

Merit: 1113

Quote from: franky1 on November 12, 2016, 09:03:18 PM

china has less hash power then you think

haobtc.. are in tibet aswell as other locations
BW.. are in mongolia aswell as other locations
BTCC.. are around the world
bitfury.. are in Finland, Iceland, and the Republic of Georgia.

put down your racist hats and put on some research glasses

Doesn't really matter WHERE they are located. So long as it is owned and controlled by Chinese , then China will still have control over it.
Why? Because these owners will likely have interests/properties/businesses IN China. Heck, if it is for the country, and the pressure is high enough, well.

Quote from: deisik on November 20, 2016, 11:50:58 AM

Have you ever been to China?

When I worked as an interpreter with big Chinese companies (thousands of workers, just in case), the groups that we were negotiating with always had some guy sticking around them, who didn't participate in discussions and business negotiations, but nevertheless was always present at these meetings. When we asked in private who was that guy and what he was doing there, we were told that he is "representing the government". Between ourselves we concluded that he was actually an agent of some government security service supervising the company deals and contacts. I guess you strongly underestimate the level of government participation in businesses across China

I agree that all "Big"(big enough) business deals will likely be overseen by "representatives" of the government.

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: SvenBomvolen on November 20, 2016, 05:41:53 PM

That is where we should start for, how can anyone control bitcoin? If there is answer on that question then it would be easy to answer on question who control it.
I didn't find enough reasons in this topic that can convince me that some country like China is controlling bitcoin network.

Hmm, really ? Cheesy

It is funny , how people ignore what is basically thrust in their face.
Numerous articles and You tube videos discussing the issue, and you don't know. Tongue

1st way using Technology
http://www.btcpedia.com/bitcoin-51-attack/

Quote

If a miner gains 51% or more power, he is capable to:
   Reverse transactions that he sends while he’s in control. This has the potential to double-spend transactions that previously had already been seen in the block chain.
   Prevent some or all transactions from gaining any confirmations.
   Prevent some or all other miners from mining any valid blocks.

2nd Way , This example is how it is done Economically using Goldman as an example , and China does it with BTC
http://www.usnews.com/opinion/blogs/economic-intelligence/2013/07/24/how-goldman-sachs-and-wall-street-manipulate-alumnimum-and-other-commodities

Quote

Some of the richest opportunities for such manipulation lie in combining control of physical commodities with dominance of commodity derivatives and futures markets. The major banks are, of course, key dealers in these derivatives markets. Control of physical commodities allows them to both forecast and influence the spot commodity prices that can determine derivatives pricing. Indeed, some observers have pointed out that bank involvement in warehousing has allowed them to conceal information from the markets on the true supply of physical commodities, creating market squeezes and artificially fueling investor appetite for commodity futures.

Get some popcorn and Go to http://coinmarketcap.com/currencies/bitcoin/#markets
and watch the Chinese exchanges move the BTC market up or down thru fake trading, which manipulates the price in whichever direction they like. Wink

(Why is it Fake Trading, because most of the Chinese Exchanges don't charge a trading fee, so it costs them nothing to fake the price.)

Cool

FYI:
BTC wallets should have inscribed on it,
In China We Trust .
Warning : Value Void if China does not like you. Tongue

SvenBomvolen

hero member

Activity: 588

Merit: 500

Quote from: MTBTT on November 20, 2016, 05:28:54 PM

Quote from: Selly Arumsari on November 20, 2016, 12:40:14 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?

i think yes , my opinion average of user bitcoin is chinese so their controller

Lol I want to ask you, if they can control the bitcoin, how they control the bitcoin?
and you know there are other countries that also have very large users, what do you think?

That is where we should start for, how can anyone control bitcoin? If there is answer on that question then it would be easy to answer on question who control it.
I didn't find enough reasons in this topic that can convince me that some country like China is controlling bitcoin network.

MTBTT

hero member

Activity: 504

Merit: 500

Quote from: Selly Arumsari on November 20, 2016, 12:40:14 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?

i think yes , my opinion average of user bitcoin is chinese so their controller

Lol I want to ask you, if they can control the bitcoin, how they control the bitcoin?
and you know there are other countries that also have very large users, what do you think?

john2231

hero member

Activity: 924

Merit: 1001

Quote from: babo on November 20, 2016, 04:28:55 PM

More mining power is'nt equal to control bitcoin.. in my humble opinion.. who control code and community and early adopter? I think no one

Yeah agree no one can control bitcoin even they are have lots of bitcoin farm they are just mine on bitcoin not control it but they can control the price just to dump and pump. but i think they don't do that because they are expecting more price increase with bitcoin. and bitcoin is decentralize so that no one can control bitcoin..

babo

legendary

Activity: 3696

Merit: 4343

The hacker spirit breaks any spell

More mining power is'nt equal to control bitcoin.. in my humble opinion.. who control code and community and early adopter? I think no one

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Ayers on November 20, 2016, 12:44:58 PM

Quote from: deisik on November 20, 2016, 11:50:58 AM

Quote from: ranochigo on November 20, 2016, 07:18:13 AM

There isn't any evidence of the China government owning any of the mining pool or any percentage of the hashpower. Some of the mining pool are not based in China and they do not have to comply with the government. Even if they are, if they were requested to launch an attack, they would see their profits being harmed and would thus decline it

Have you ever been to China?

When I worked as an interpreter with big Chinese companies (thousands of workers, just in case), the groups that we were negotiating with always had some guy sticking around them, who didn't participate in discussions and business negotiations, but nevertheless was always present at these meetings. When we asked in private who was that guy and what he was doing there, we were told that he is "representing the government". Between ourselves we concluded that he was actually an agent of some government security service supervising the company deals and contacts. I guess you strongly underestimate the level of government participation in businesses across China

do you have proof of that?

I'm curious what kind of proof you might want?

I'm telling you first hand experience, and you ask me to show you proofs? If you are doubting my words, this essentially boils down to saying that I'm lying. Do you really think that I'm going to prove what I saw with my own eyes to anyone? If you (or anyone else, for that matter) don't believe my words, go and check for yourself

rajasumi3

full member

Activity: 266

Merit: 100

Yes u can say that china is kinda controlling bitcoins. They are inversting billions of dollars in bitcoins. Well that means something that bitcoins have a bright future ahead .well u gotta be patient and earn and earn bitcoins as much as u can .kudoos

Ayers

legendary

Activity: 2590

Merit: 1022

Leading Crypto Sports Betting & Casino Platform

Quote from: deisik on November 20, 2016, 11:50:58 AM

Quote from: ranochigo on November 20, 2016, 07:18:13 AM

There isn't any evidence of the China government owning any of the mining pool or any percentage of the hashpower. Some of the mining pool are not based in China and they do not have to comply with the government. Even if they are, if they were requested to launch an attack, they would see their profits being harmed and would thus decline it

Have you ever been to China?

When I worked as an interpreter with big Chinese companies (thousands of workers, just in case), the groups that we were negotiating with always had some guy sticking around them, who didn't participate in discussions and business negotiations, but nevertheless was always present at these meetings. When we asked in private who was that guy and what he was doing there, we were told that he is "representing the government". Between ourselves we concluded that he was actually an agent of some government security service supervising the company deals and contacts. I guess you strongly underestimate the level of government participation in businesses across China

do you have proof of that?

Quote from: mrkevio on November 20, 2016, 11:02:52 AM

China controls the highest percentage of Bitcoin mining, but it doesn't control Bitcoin itself too. I think Bitcoin is a project that has been thought very well and then launched and forgotten about by the creator - I don't think the owner would ever want institutions like the FBI and the CIA to find out who he is.

if you control the mining sector and the merchants sector you are effectively contorlling bitcoin, so if china in the future will create more merchants that accept bitcoin, it would be a chian currency at 100%, very dangerous

Selly Arumsari

sr. member

Activity: 602

Merit: 250

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?

i think yes , my opinion average of user bitcoin is chinese so their controller

rasyid_muhammad

newbie

Activity: 11

Merit: 0

if the master I do not think, but who has the biggest mining heck yes Grin

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: ranochigo on November 20, 2016, 07:18:13 AM

There isn't any evidence of the China government owning any of the mining pool or any percentage of the hashpower. Some of the mining pool are not based in China and they do not have to comply with the government. Even if they are, if they were requested to launch an attack, they would see their profits being harmed and would thus decline it

Have you ever been to China?

When I worked as an interpreter with big Chinese companies (thousands of workers, just in case), the groups that we were negotiating with always had some guy sticking around them, who didn't participate in discussions and business negotiations, but nevertheless was always present at these meetings. When we asked in private who was that guy and what he was doing there, we were told that he is "representing the government". Between ourselves we concluded that he was actually an agent of some government security service supervising the company deals and contacts. I guess you strongly underestimate the level of government participation in businesses across China

carlerha

hero member

Activity: 588

Merit: 500

Quote from: tabas on November 20, 2016, 11:07:18 AM

Quote from: ged00u on November 20, 2016, 10:58:07 AM

Quote from: iram3130 on November 20, 2016, 07:48:11 AM

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

Well I think that China or India really has a significant impact on the development of bitcoin as each country has advantages in the number of people using bitcoin as well as mining it, but one thing for sure that they are not controlling it. They do make bitcoin change its trend but they can't shut it down whenever they want.

They surely does has big impact for development of bitcoin and it is making them more dominant country in the bitcoin industry. China is one of the countries that are having the most miners and farms. It cannot be removed that they are one of the countries who has the biggest contribution in the fluctuation of bitcoins price and we can say that they are also controlling bitcoin.

it may be fact but i think that bitcoin is anonymous and now one know about the actual number of bitcoin user and even do not know about the users nationality, so how can we say that most of of the bitcoin users are from China.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

Quote from: ged00u on November 20, 2016, 10:58:07 AM

Quote from: iram3130 on November 20, 2016, 07:48:11 AM

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

Well I think that China or India really has a significant impact on the development of bitcoin as each country has advantages in the number of people using bitcoin as well as mining it, but one thing for sure that they are not controlling it. They do make bitcoin change its trend but they can't shut it down whenever they want.

They surely does has big impact for development of bitcoin and it is making them more dominant country in the bitcoin industry. China is one of the countries that are having the most miners and farms. It cannot be removed that they are one of the countries who has the biggest contribution in the fluctuation of bitcoins price and we can say that they are also controlling bitcoin.

mrkevio

full member

Activity: 210

Merit: 100

China controls the highest percentage of Bitcoin mining, but it doesn't control Bitcoin itself too. I think Bitcoin is a project that has been thought very well and then launched and forgotten about by the creator - I don't think the owner would ever want institutions like the FBI and the CIA to find out who he is.

ged00u

hero member

Activity: 770

Merit: 500

Quote from: iram3130 on November 20, 2016, 07:48:11 AM

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

Well I think that China or India really has a significant impact on the development of bitcoin as each country has advantages in the number of people using bitcoin as well as mining it, but one thing for sure that they are not controlling it. They do make bitcoin change its trend but they can't shut it down whenever they want.

Labumi

hero member

Activity: 756

Merit: 500

Quote from: MONKEYJUNK on November 20, 2016, 08:17:13 AM

Quote from: bamboylee on November 20, 2016, 07:58:28 AM

Quote from: nocryinginbtc on November 19, 2016, 04:02:01 PM

China has well over half the trading volume. And most of the mining. They could certainly make some bumps in the road but they wont do anything that will negatively impact the price.They own too much.

But they can work together so they can control the price of bitcoin. That is a bad thing for small traders. And if they have the 51% control, then it will not be that decentralized anymore, I think.

It's impossible to they work all togheter... Maybe they can have small groups however to enjoy in one you don't need necessary be on China.

In my opnion is more about the miners that hold a lot of amounts and wales.

Yeah, all of this is not true if china is a country which has an important role in the growth of the bitcoin or china is controlling all systems bitcoin. most have a very important role is the miners and traders, they give reciprocity to bitcoin until finally they get a very good advantage. Indeed for the country now has the highest number of miners or reputation is china, but it does have a huge influence.

MONKEYJUNK

sr. member

Activity: 434

Merit: 250

Quote from: bamboylee on November 20, 2016, 07:58:28 AM

Quote from: nocryinginbtc on November 19, 2016, 04:02:01 PM

China has well over half the trading volume. And most of the mining. They could certainly make some bumps in the road but they wont do anything that will negatively impact the price.They own too much.

But they can work together so they can control the price of bitcoin. That is a bad thing for small traders. And if they have the 51% control, then it will not be that decentralized anymore, I think.

It's impossible to they work all togheter... Maybe they can have small groups however to enjoy in one you don't need necessary be on China.

In my opnion is more about the miners that hold a lot of amounts and wales.

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: nocryinginbtc on November 19, 2016, 04:02:01 PM

China has well over half the trading volume. And most of the mining. They could certainly make some bumps in the road but they wont do anything that will negatively impact the price.They own too much.

But they can work together so they can control the price of bitcoin. That is a bad thing for small traders. And if they have the 51% control, then it will not be that decentralized anymore, I think.

iram3130

legendary

Activity: 1512

Merit: 1010

ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

Topic: Is CHINA CONTROLLING Bitcoin? - page 47. (Read 92666 times)