Is CHINA CONTROLLING Bitcoin? - page 57.

talkbitcoin

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Quote from: pereira4 on October 07, 2016, 04:21:52 PM

China will keep getting most of the hashing power as long as its profitable to do so, and this coupled with the fact that no one is still competing against them will keep making the China monopoly bigger, but Andreas says that we will see new technology developed that will decentralize mining again.

many who say China is controlling bitcoin are saying this because they see this distribution of hash rates but all of these are either new to bitcoin or have no long term memory because not so long ago this hash rate distribution was the exact opposite and US had more than 60% of hash rate and nobody was thinking bitcoin is centralized.

zahra4577

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

China = Illuminati ! Huh

No I think bitcoin is a global currency and no single country or group is controlling it.
If it were controlled by China,bitcoin were dead by now

trinaldao

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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.

kidoseagle0312

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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 know most or majority of the bitcoin enthusiast here would rather say in this question a big NO! BITCOIN IS DECENTRALIZED NOT A CENTRALIZED, even China has a big plant of bitcoin mining farm it doesn't mean they can control bitcoin.

pereira4

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China will keep getting most of the hashing power as long as its profitable to do so, and this coupled with the fact that no one is still competing against them will keep making the China monopoly bigger, but Andreas says that we will see new technology developed that will decentralize mining again.

kollo99

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no i do not think so that anyone is controlling bitcoin, i think there is no doubt about this that most of the users of bitcoin are from china and even most of he miners are also from china but it does not mean that China is controlling Bitcoins.

Newcoins2020

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Yes the bitcoin is a sort of controlled by the bitcoin but I must say that its already less more than it was because of the fact that they were mining big time but since its less more profitable they stopped with it.

CryptosZepeckenio

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China = Illuminati ! Huh

Ruhtilg

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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.

lanslans

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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.

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Quote from: coin_gambler on October 02, 2016, 06:25:13 PM

Quote from: pearnapple on September 25, 2016, 07:53:44 PM

china is definitely not controlling bitcoins at the moment, in my opinion the price of the bitcoin depends on only all people

well they mine a lot of bitcoins to be honest so when they sell it all they actually control the price

Well not just them are the ones who are mining and that is unfair that they are able to control the price. Well we can't say that they have total control to the price of bitcoin but we can consider that when they sell bitcoins they have big impact for the fluctuation of bitcoins price. They can manipulate it because majority of them are miners.

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Quote from: pearnapple on September 25, 2016, 07:53:44 PM

china is definitely not controlling bitcoins at the moment, in my opinion the price of the bitcoin depends on only all people

well they mine a lot of bitcoins to be honest so when they sell it all they actually control the price

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Quote from: panju1 on October 02, 2016, 10:51:26 AM

Quote from: dharkmadder on September 30, 2016, 04:15:05 AM

I don't think China as a country is controlling bitcoin or even endorsing it, But Chinese as human beings have much interest in bitcoin and have a significant impact on BTC price because of there number and wide investment in BTC and I don't think this is bad at all.

With China's population and economic size, it is bound to have an impact on BTC price.
Chinese Yuan just became the world's 5th reserve currency - such is its importance.

Yes because of the population of China that is making them the most miners are living there. And not just because most miners are Chinese that is not a basis that we re going to say China is controlling bitcoins.

Still we are the ones that are going to control bitcoin with its massive use and demand and as well as the whales too.

panju1

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Quote from: dharkmadder on September 30, 2016, 04:15:05 AM

I don't think China as a country is controlling bitcoin or even endorsing it, But Chinese as human beings have much interest in bitcoin and have a significant impact on BTC price because of there number and wide investment in BTC and I don't think this is bad at all.

With China's population and economic size, it is bound to have an impact on BTC price.
Chinese Yuan just became the world's 5th reserve currency - such is its importance.

jonahmarieaton101

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Quote from: pearnapple on September 25, 2016, 07:53:44 PM

china is definitely not controlling bitcoins at the moment, in my opinion the price of the bitcoin depends on only all people

Does it really matter if china or another country controlling bitcoin? maybe there are lot of developers running bitcoin but not exactly china controlling it. We, users maybe controlled bitcoin

dharkmadder

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I don't think China as a country is controlling bitcoin or even endorsing it, But Chinese as human beings have much interest in bitcoin and have a significant impact on BTC price because of there number and wide investment in BTC and I don't think this is bad at all.

springgers

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Quote from: pearnapple on September 25, 2016, 07:53:44 PM

china is definitely not controlling bitcoins at the moment, in my opinion the price of the bitcoin depends on only all people

They can control mining, they have a lot of bitcoins, for sure they can control some part of the coin and hold the price...
Let's see what will happen in the future, maybe they are controlling alts too since it's more easy.

trickshot22

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Quote from: betohell on September 25, 2016, 06:14:41 PM

I think that control bitocin it is the user, so when a country has a very large user exceeds other countries, it may be interpreted that the country could control the bitcoin ?

yeah, i think that bitcoins are not controlled by countries but it is controlled by people from all world

Milkduds

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China has its hands in so many pots these days it would be hard not to believe they tap into bitcoin in some aspect.
Especially with cyber warfare becoming the new cool thing for governments to do to each other,bitcoin is one way to put a dent in the opposition.
As for manipulating the price,its hard not to factor in the cheap electricity costs to run a farm for bitcoin in China. But unsure how much deeper than that it would go and it gets into tinfoil hat Country,which I am trying to keep my head out of these days. Cheesy

Muhammad Zain

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Quote from: betohell on September 25, 2016, 06:14:41 PM

I think that control bitocin it is the user, so when a country has a very large user exceeds other countries, it may be interpreted that the country could control the bitcoin ?

but how can one know about the number of users from a particular country, i think it is just the speculation and nothing else, no one is controlling bitcoin, bitcoin is all time free currency and is not under control of any one.

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