Is CHINA CONTROLLING Bitcoin? - page 56.

knightkon

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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 that china has a monopoly on the mining of Bitcoin at this time, so I think in the future they will increase the cost of getting confirmations, but other than that they do not have much control. In the event that they try to increase the price of the transfer fees, then smaller miners will pick up the slack and confirm those transactions, so I have to say; all said, China is not in control of bitcoin!

jonpande

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I think China is not strong enough to control bitcoin.Bitcoin now become a global currency, does not belong to one country. Therefore I do not think that China or other countries can control the bitcoin.

PokerFace3

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Quote from: CryptosZepeckenio on October 07, 2016, 02:25:30 PM

China = Illuminati ! Huh

You can't say China is Illuminati because Illuminati is a worldwide secret group and comprises people from the different countries of the world who are there to achieve a set goal in the society for which I am not sure of. But, with respect to bitcoin ecosystem, China will not be able to do anything secretly. Maybe planning for 51% network work also will be highly impossible when considering bitcoin network's current hash power.

Sponsoredby15

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Quote from: groll on October 24, 2016, 02:56:16 AM

Quote from: Sponsoredby15 on October 24, 2016, 02:30:42 AM

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?

No i think its japan that control bitcoins because they are good in technology. Japan is the most trusted IT expert in the world which creates crypto currency. According to bitcoin history it is Satoshi Nakamoto that creates bitcoin which is a Japanese Name. He is hiding because bitcoin is semi illegal.

Your theory is possibly true, they may not use a Japanese name to the bitcoins maker is it was not of Japanese in Nature. But it was possibly done in other countries aside from Japan but it has a Japanese programmer behind it. Well lets go back to the authors question of whether China is controlling bitcoins or not, i will say No, no ones controlling bitcoin since it has no center but possibly the bitcoins price but not bitcoin itself.

What I mean is that the creator of bitcoin no ones controlling because the transaction in bitcoin is continue. The outflow and the inflow is generated in the ISP so just like gold bitcoin is in mining section which you canearn by just using mining rigsin the computer as a binary program.

n691309

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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 don't think they control the bitcoin because there has been many other exchanges rather in china which have a great volume of bitcoin too but china is leading in this field and has the power to manipulate the price of bitcoin.

groll

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Quote from: Sponsoredby15 on October 24, 2016, 02:30:42 AM

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?

No i think its japan that control bitcoins because they are good in technology. Japan is the most trusted IT expert in the world which creates crypto currency. According to bitcoin history it is Satoshi Nakamoto that creates bitcoin which is a Japanese Name. He is hiding because bitcoin is semi illegal.

Your theory is possibly true, they may not use a Japanese name to the bitcoins maker is it was not of Japanese in Nature. But it was possibly done in other countries aside from Japan but it has a Japanese programmer behind it. Well lets go back to the authors question of whether China is controlling bitcoins or not, i will say No, no ones controlling bitcoin since it has no center but possibly the bitcoins price but not bitcoin itself.

Sponsoredby15

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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?

No i think its japan that control bitcoins because they are good in technology. Japan is the most trusted IT expert in the world which creates crypto currency. According to bitcoin history it is Satoshi Nakamoto that creates bitcoin which is a Japanese Name. He is hiding because bitcoin is semi illegal.

genos

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Any store can buy, sell, and accept Crypto

Quote from: dothebeats on October 23, 2016, 12:36:32 PM

Quote from: Ruhtilg on October 07, 2016, 11:48:36 AM

Quote from: lanslans on October 02, 2016, 10:39:24 PM

i think no, maybe china has big market for bitcoin but of course bitcoin isn't controllable only with 1 country. bitcoin market based on supply and demand and no one / or country cant control it.

The Chinese could be the biggest buyer of the bitcoin. They are already the biggest miner of the bitcoin.

Welp, they had been the biggest market movers even a few years back. Also, seeing that the largest mining firms are in China, of course expect a heavy trading volume too, but this doesn't mean that they are controlling bitcoin as a whole because no single entity can. They can re-write the blockchain by initiating a 51% attack in the network, but the Chinese know better; pulling this off is similar to them throwing their investments down the drain.

China was have the biggest part of trading bitcoin. No one control bitcoin but if there some poeple that work together to control butcoin, I think it probably could be happen. That is like some one who have so great capital that can affect a country economy like what happen with my country long time ago. So I think it is very very possible if some one or party who have atleast 50% of bitcoin to control it price.

bitbitero

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just because they have the most miners they are controlling bitcoin network already? No!

th3nolo

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I guess mostly majority of the bitcoin, price, mining are controlled by china. if you see at http://fiatleak.com/ these guys, buy large amounts everyday.

hv_

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Clean Code and Scale

Bitmain event... Could the take over scaling lead?

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Cashback 15%

Quote from: Ruhtilg on October 07, 2016, 11:48:36 AM

Quote from: lanslans on October 02, 2016, 10:39:24 PM

i think no, maybe china has big market for bitcoin but of course bitcoin isn't controllable only with 1 country. bitcoin market based on supply and demand and no one / or country cant control it.

The Chinese could be the biggest buyer of the bitcoin. They are already the biggest miner of the bitcoin.

Welp, they had been the biggest market movers even a few years back. Also, seeing that the largest mining firms are in China, of course expect a heavy trading volume too, but this doesn't mean that they are controlling bitcoin as a whole because no single entity can. They can re-write the blockchain by initiating a 51% attack in the network, but the Chinese know better; pulling this off is similar to them throwing their investments down the drain.

Tecmand

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Quote from: a7mos on October 09, 2016, 02:11:58 PM

Of course yes, most of bitcoin mining network is controlled by china. I have read before that if China had an internet problem for a day or something, this will fork bitcoin to two separated blockchains

They might control the mining now. But if the bitcoin price rises further, the Wall street will also invest in mining.

a7mos

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Of course yes, most of bitcoin mining network is controlled by china. I have read before that if China had an internet problem for a day or something, this will fork bitcoin to two separated blockchains

lionheart78

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Quote from: dragonusa9 on October 09, 2016, 01:48:14 PM

not even one country can control bitcoin for sure, but if you look from the most people who use the bitcoin
maybe china's people can control bitcoin market

This is true; no country can control Bitcoin. The Idea of decentralisation is coded in its system so in my opinion even if some big country tries to manipulate or centralise bitcoin; the decentralisation will never be ceased. As we know nodes are scattered around the world, these are the people connected to the network .

dragonusa9

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not even one country can control bitcoin for sure, but if you look from the most people who use the bitcoin
maybe china's people can control bitcoin market

bitdumper

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One world One currency, Bitcoin.

i would not say that they arecontroling the network but i will say that they are helping a lot to keep the network alive but that is all for money and thats true nothing is better than bitcoin mining if it is done on that scale i bet it will take a huge time to make them coumt their loss

PokemonFun

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no no no no and no no no no never that will not happen ever in this universe never europe is controlling bitcoin Tongue

vero

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Quote from: satdas on October 08, 2016, 02:09:01 PM

Quote from: trinaldao on October 08, 2016, 06:44:04 AM

no country can control bitcoin, because bitcoin is not centralized.
chinese can be the lead of strongest comunity and hashrate but he can't control bitcoin, he can't control the price too.

yes that is a fact that it is not so easy to control bitcoin as it not a centralize currency, and it is also a fact that the number of bitcoin user in China are more than any other country, but it does not mean that China is controlling the bitcoin currency.

Wrong the fact no one never can control bitcoin even they have give big distribution hash or holding much bitcoin they never control bitcoin.

satdas

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Quote from: trinaldao on October 08, 2016, 06:44:04 AM

no country can control bitcoin, because bitcoin is not centralized.
chinese can be the lead of strongest comunity and hashrate but he can't control bitcoin, he can't control the price too.

yes that is a fact that it is not so easy to control bitcoin as it not a centralize currency, and it is also a fact that the number of bitcoin user in China are more than any other country, but it does not mean that China is controlling the bitcoin currency.

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