Is CHINA CONTROLLING Bitcoin? - page 76.

romero121

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Quote from: ning_chang on June 21, 2016, 01:44:45 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 do not believe that China is the control of bitcoin. I even believe that Japan took control of bitcoin, based on my knowledge. because when China took control of coins ,? wow edi

China has the highest users as well miners. For this reason more people believe bitcoin is controlled by China..

Enotche

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Roughly speaking, yes...i think...

-AntPool - 17.82%
It is run Bitmain, a Chinese company for the production of powerful computer equipment with headquarters in Beijing. Pool Guide calls itself the largest cloud Mining and states that the company's technology is used 56% of miners in the world.

-DiscusFish / P2Pool - 16.49%
Chinese pool exploit two enthusiast Wang Chun and Moa Shigang. Pool equipment owned 100% of the capacity provided by consumers.

-BTC China Pool - 13,74%

-BW Pool - 7,68%
Another Chinese pool. Despite the volumes, almost advertised in English-speaking Internet.

The rest of the pools mining control less than 5% of the market each. Among them are five unknown miners, which together control 4,36% Bitcoin.

Kewatia

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The Chinese are just employed to make the miners and support the bitcoin network. The mined bitcoin will be trasnfered to the West later.

~Bitcoin~

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Quote from: Bitcotalk on June 21, 2016, 01:25:33 PM

---snip----
the miners are also more from their country ---snip---

And also most of the bitcoin volumes comes from china wheenver there is pump or dump this also proves that china have majority of bitcoins, so in this sense it is called that china is controlling bitcoin. Specially price...

freshman777

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Quote from: bitbunnny on June 21, 2016, 01:48:31 PM

Many speculations but no evidence at all that China is controlling Bitcoin. In fact I don't beleive that any country is controlling the Bitcoin. If that ever happens, that one or more countries take control over it then Bitcoin will lose one of it's main characteristics, that is independent and with no control of any institution.

70% of hashing power is coming from China, what other evidence do you want? Grin

ning_chang

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Quote from: Donu on May 08, 2016, 04:18:11 PM

Im not spamming....

Im asking a valid question? Should we worried? If this is the case, can China have a say on the price of BTC?

my opinion, i think it's a yes, because Scrooge because china has a chance to decrease the price of BTC

bitbunnny

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Many speculations but no evidence at all that China is controlling Bitcoin. In fact I don't beleive that any country is controlling the Bitcoin. If that ever happens, that one or more countries take control over it then Bitcoin will lose one of it's main characteristics, that is independent and with no control of any institution.

ning_chang

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Quote from: Donu on May 08, 2016, 04:07:59 PM

Does it really matter?

Yes! who did not justify the control of BTC. just important we earn bitcoin

ning_chang

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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 do not believe that China is the control of bitcoin. I even believe that Japan took control of bitcoin, based on my knowledge. because when China took control of coins ,? wow edi

Bitcotalk

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No, china is nor controlling bitcoin, only the Chinese are more active in bitcoin and they are more in adopting bitcoin and the miners are also more from their country that is why we feel like China is controlling bitcoin.

Nevis

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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 do not believe that China is the control of bitcoin. I even believe that Japan took control of bitcoin, based on my knowledge

BitcoinRonnie

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Bitcoin is controlled by to many factors now to be open sourced as it should have been.

BTCBinary

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The biggest mining companies in the space are located in China as well as trading is mostly being done by chinese. Besides bitcoin they also control Litecoin, which is near to came a new comeback!

TheRedDevil

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I believe so. Most of the whale movement in the market happens when China wakes up.

Further with the steady fall of Chinese currency, everyone is investing heavily on btc and its come to a point where the entire market shakes up heavily every day when China wakes up. We are definitely dependent on Chinese markets nowadays and its not gonna change anytime soon since they have large mining farms too which gives them huge advantage of the btc and alt coin markets.

Viyamore

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Quote from: ?? on ??

Well IMO china may be controlling bitcoin's price but not intentionally. I said that they control it unintentionally because if the bitcoin users there all sell and have a panic sell well the price will dump because they are many. If they all buy, then the price will surely rise.

I think this is right also but there's also a big time holders of bitcoins especialy a rich investor who can controll the price in his ownself.
And the most of others who also holds a lot of coins.

Maesters1-

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we are hearing this news for such a long time. people are talking about this that china is holding bitcoin. my personal view is that they are not controlling bitcoin. i think that bitcoin is not a regional currency. it is famous and popular all over the world. i personally so many people from different countries like Pakistan, Indian. Saudi Arabia, Russia and so many other countries who are using bitcoin. there we can say that china is not controlling bitocin.

DoublerHunter

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I think yes because many investors or buyers of bitcoin are came from china (i think) because i read many threads and articles that the cause of the price hike of the bitcoin is by the chinese investors who are in panic buying. So for me it's possible that the china is controlling the bitcoin especially the price Cheesy

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Rubberduckie

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I wouldnt be surprised if they were manipulating things to rise

But they cant do it alone. When it starts jumping up everyone then
joins in cause they dont want to miss the big move and then it really
shoots up.

davis196

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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?

Mining doesn`t matter that much.It`s more important who is holding the majority of bitcoins in the world.

I guess that mining isn`t porfitable,so chinese institutions are wasting the money of the tax payers Grin

Maybe with price increase,mining will become profitable again....

egytrickz

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Quote from: Whosdaddy on June 20, 2016, 12:56:38 PM

Quote from: sempak on June 20, 2016, 08:56:30 AM

bitcoin be controlled by all users. but I was quite concerned with the power of china. china is so extraordinary, they have bitcoin users are very numerous. china can do anything to control the price of bitcoin.

The number of bitcoin users from china is no threat, actually. The threat is that many among the bitcoin users from china are large bitcoin holders. In theory, if bitcoin users from china worked together, they have the power to manipulate bitcoin price by a few dollars up or down by either pumping or dumping their coins.

The millions of traders, many of them in China, who have bet on the price of the virtual currency have kept the cumulative value of all outstanding Bitcoins well above $2 billion since late 2013. At the same time, that speculative activity has left much of the general public wondering why these virtual coins should be worth anything at all.

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