Is CHINA CONTROLLING Bitcoin? - page 9.

jorneyflair

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Quote from: Captimiz on April 29, 2017, 01:02:05 PM

Thought the main user base and investor base was in the US?

Indeed, the US was pretty much first in this trend. That was basically the place where cryptocurrencies were born, and also the place when anyone has started using them.
But it does not necessary mean that main user base is at US, for bitcoin and usually for trusted, popular altcoins, they are distributed the same in every place on the planet.

Most of the people will probably agree with me, with saying that all cryptocurrencies need decentralization, because we cannot let anyone to control them. If it will be able, then in my opinion there will be no difference between fiat and this kind of coin: after all, only market laws such as demand and supply should have control on it.

Bunsomjelican

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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?

It maybe true that China owned the 60 or 70% of mining farm in the world, but it does not mean they had the capacity to control bitcoin.
Of course not, that can't be happen at all because bitcoin power was decentralization, In fact, its been a year that each government of the can't they haven't get any benefits from bitcoin because of this things.

Raven91

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I don't think that china can do this no one can control bitcoin price is depending in many thing like demand and supply mining etc.
but somehow they can but they cannot manipulate even they have big farm mining.

AmeSakibimasu

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Quote from: kazary on April 30, 2017, 09:11:17 AM

China doesn't control bitcoin. but of course china has a huge influence on bitcoin

Correct. The only thing why some of the people here do think that China controls bitcoin is because they can manipulate the bitcoin's price whenever they want just by doing a DUMP. Most of the miners of bitcoin are from china, that is why they have the ability to do so, but it doesn't mean that they are controlling bitcoin. Bitcoin network was designed to be decentralized, meaning that no one could control it, or touch it.

Meowth05

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I dont really think so china have a big farm in mining bitcoin and all user's think that they can control the bitcoin price and we know the most of it was private mining but no proof and enough evidence for this also consider the big miners in other countries too.

MintCondition

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Quote from: kazary on April 30, 2017, 09:11:17 AM

China doesn't control bitcoin. but of course china has a huge influence on bitcoin

number of Chinese user were in huge number since Chinese businessman and investors wants to hide or have a privacy on their assets and savings ,and bitcoin provides it.

kazary

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China doesn't control bitcoin. but of course china has a huge influence on bitcoin

yunita

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Quote from: Captimiz on April 29, 2017, 01:02:05 PM

Thought the main user base and investor base was in the US?

But if you note the bitcoin users in the USA, ordinary not too prominent as in china, for now this russian most crowded users

Captimiz

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Thought the main user base and investor base was in the US?

mamaita

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China controls the bitcoin I do not think is possible, but because bitcoin users are there so much that every transaction done there will affect the bitcoin price movement, so I race it my conclusion ..

zulkarnaen

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Quote from: timerland on April 29, 2017, 10:43:00 AM

I would have never thought that any country may actually "control" bitcoin. After all, BTC is decentralized so there should be basically no ways to control it, but the history has proven that it is not like this.
We are talking about the China may controll bitcoin, because they have domination in mining it. More than 90% of all mining power (that has already changed probably, but i remember such a percantage) is in china so it really dangerous for the bitcoin distribution. In such a case, mostly people in that area are obtaining it.

But bitcoin is too strong to be controlled only through that, you would need to have a tool that allows you manipulate the market: and there is no such a tool, except just forcing your prices by doing specified trades at big quantities.

Although China does not control bitcoin but in fact many of the mines in country are close to 90%, this allows China to dominate bitcoin market in the future.

Userperson321

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China doesn't control bitcoin, their just promoting it better than everyone else and they have a lot of good mining operations going on there.

timerland

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I would have never thought that any country may actually "control" bitcoin. After all, BTC is decentralized so there should be basically no ways to control it, but the history has proven that it is not like this.
We are talking about the China may controll bitcoin, because they have domination in mining it. More than 90% of all mining power (that has already changed probably, but i remember such a percantage) is in china so it really dangerous for the bitcoin distribution. In such a case, mostly people in that area are obtaining it.

But bitcoin is too strong to be controlled only through that, you would need to have a tool that allows you manipulate the market: and there is no such a tool, except just forcing your prices by doing specified trades at big quantities.

stompix

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Quote from: DoublerHunter on April 29, 2017, 07:40:49 AM

Quote from: stompix on April 29, 2017, 06:23:53 AM

Quote from: muddafudda on April 28, 2017, 02:34:43 PM

The sudden announcement of inspections of the main operators of Bitcoin by the Chinese Central Bank caused panic and a significant drop in the price of Bitcoin in just one day.
In recent days, Bitcoin has been losing most of its earnings for the end of 2016 and early 2017. These gains were mainly attributed to the activities of Chinese traders who made huge volumes in the market, increasing the global demand for Bitcoin. One characteristic that Bitcoin users have and have always held is the fact that the government can not control or determine what happens in the Bitcoin world.

You're a bit wrong about it.

The Chinese scammers have just been warned to show the figures to officials.
So they had no choice as to turn down their bots and faking data.

The Chinese growth was as fake as the Goxbot.
But finally we're over this. Once we get rid of the Chinese mining industry I hope I won't hear another china story for a few years.

Chinese mining industry will not be remove in the industry of bitcoin because they are one of the pioneers of bitcoin mining and some of the are real miners and got a lot of bitcoins and the bitcoin industry in china is really growing. The only problem for the chinese is some of them are fake and just cheating the game that we are in.

Yes they will be removed.
No they are not pioneers.
Of course some are real miners, are there any fake miners in the world?
Bitcoin industry in China is flat. Flat as a washboard.

BTC STRATEGIST

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The Chinese government got wind of the financial shift in the markets and countered, making Bitcoin persona non grata when it came to banking and regulatory authority. They have also censored Bitcoin rallies and conferences, to keep a lid on Bitcoin’s publicity and level of interest nationwide. Coupled with the Mt. Gox collapse, this started a financial market crash that only now Bitcoin is starting to recover from. This is just a taste of the power China can exert on ANY financial market within a matter of months.

DoublerHunter

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Quote from: stompix on April 29, 2017, 06:23:53 AM

Quote from: muddafudda on April 28, 2017, 02:34:43 PM

The sudden announcement of inspections of the main operators of Bitcoin by the Chinese Central Bank caused panic and a significant drop in the price of Bitcoin in just one day.
In recent days, Bitcoin has been losing most of its earnings for the end of 2016 and early 2017. These gains were mainly attributed to the activities of Chinese traders who made huge volumes in the market, increasing the global demand for Bitcoin. One characteristic that Bitcoin users have and have always held is the fact that the government can not control or determine what happens in the Bitcoin world.

You're a bit wrong about it.

The Chinese scammers have just been warned to show the figures to officials.
So they had no choice as to turn down their bots and faking data.

The Chinese growth was as fake as the Goxbot.
But finally we're over this. Once we get rid of the Chinese mining industry I hope I won't hear another china story for a few years.

Chinese mining industry will not be remove in the industry of bitcoin because they are one of the pioneers of bitcoin mining and some of the are real miners and got a lot of bitcoins and the bitcoin industry in china is really growing. The only problem for the chinese is some of them are fake and just cheating the game that we are in.

stompix

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Blackjack.fun

Quote from: muddafudda on April 28, 2017, 02:34:43 PM

The sudden announcement of inspections of the main operators of Bitcoin by the Chinese Central Bank caused panic and a significant drop in the price of Bitcoin in just one day.
In recent days, Bitcoin has been losing most of its earnings for the end of 2016 and early 2017. These gains were mainly attributed to the activities of Chinese traders who made huge volumes in the market, increasing the global demand for Bitcoin. One characteristic that Bitcoin users have and have always held is the fact that the government can not control or determine what happens in the Bitcoin world.

You're a bit wrong about it.

The Chinese scammers have just been warned to show the figures to officials.
So they had no choice as to turn down their bots and faking data.

The Chinese growth was as fake as the Goxbot.
But finally we're over this. Once we get rid of the Chinese mining industry I hope I won't hear another china story for a few years.

toygg

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Well... Anything is possible but it is gonna be extremely difficult for China to do so... China needs to obtain lots of bitcoins either by slowly acquiring them through many exchanges in order to not trigger the price to surge or investing in lots of AISC miners to mine bitcoin. Due to the market cap of bitcoin, it is not gonna be easy.

bitllionaire

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Quote from: Tecmand on April 28, 2017, 12:23:20 PM

Quote from: QuestionAuthority on April 15, 2017, 10:54:54 PM

Quote from: Jewell on April 15, 2017, 05:26:00 PM

Quote from: ?? on ??

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?

Long long ago,when china had huge mining farms and people didnt know much about bitcoin, chinese were easily able to manipulate bitcoin market by dumping their bitcoins.But not now as more people all over the world have realized bitcoin's true potential and due to PBOC regulations,the chinese were now unable to create fake buy and sell orders and they even could not withdraw their bitcoins from exchanges.Dragon era is not alive now.

to me i think still china has the huge mining forms and more investors than any other country but still i will like to say that they are not controlling bitcoin. as bitcoin is present in all over the world and the users of bitcoin are increasing from time to time therefore it is now becoming more difficult to manipulate the price of bitcoin or to control bitcoin at all.

Really? Mark Karpeles proved that one guy and two bots can manipulate and control the worldwide Bitcoin exchange rate.

Isn't it curious that currently Coincheck in Japan (last known home of Mark Karpeles) has double the volume of the next two largest exchanges. Isn't it funny that Coincheck became the largest exchange in the world right about the time Karpeles was released from prison. Wonder if he started giving pointers to the Yakuza (Japanese mafia) in prison to keep the number of ass rapes down to a minimum and they helped him restart the old business with stolen bitcoins. LOL

he could not do it now. At present, no exchange controls more than 20% of the world trade.

yes that is right and now it is becoming more and more difficult to control bitcoin as the users of bitcoin are continuously increasing and hope that very soon people may not be thinking about it to manipulate the price of bitcon. and hope that bitcoin will be trading in its original price.

muddafudda

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The sudden announcement of inspections of the main operators of Bitcoin by the Chinese Central Bank caused panic and a significant drop in the price of Bitcoin in just one day.
In recent days, Bitcoin has been losing most of its earnings for the end of 2016 and early 2017. These gains were mainly attributed to the activities of Chinese traders who made huge volumes in the market, increasing the global demand for Bitcoin. One characteristic that Bitcoin users have and have always held is the fact that the government can not control or determine what happens in the Bitcoin world.

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