just a simple question? - page 9. | Bitcointalksearch.org

justspare

hero member

Activity: 1022

Merit: 538

Quote from: bit-emperor on September 23, 2017, 07:47:41 AM

Why is china so influential with bitcoin prices?

China is the country with the largest population and perhaps that is the reason why china is so in fluent with the bitcoin prices. China has most of the bitcoin users as the people in china are technology friendly and have a good source of income through bitcoins. I don't even think that the rumors about china banning bitcoin will be true as there is no such huge reason behind bitcoins to b banned.

Either china would launch a special coins to be used there as they have always invented a second option for each thing that is essential. But it is not possible to gain as much reputation as bitcoins. Perhaps the rumors are fake as the similar were seen in 2013.

Oroplata

jr. member

Activity: 57

Merit: 10

Chinese is known as an entrepreneurs worldwide. Bitcoin is a currency in digital form, and where there is money, business minded people are there. Bitcoin is an opportunity to have money and many Chinese are involved in bitcoin and their demand in bitcoin makes price changes.

Lord_Trajan

newbie

Activity: 16

Merit: 0

Quote from: Emoclaw on September 23, 2017, 07:53:57 AM

Because they (used to) represent a huge chunk of trading volume, as well as total network hashrate.
They were a major country prior to banning Bitcoin. But now not so much really.

Their loss Grin

silent17

full member

Activity: 420

Merit: 119

Quote from: susila_bai on September 23, 2017, 08:23:57 AM

Quote from: silent17 on September 23, 2017, 08:14:33 AM

As far as I recently read, china hold at least 20% of bitcoin around the world. They also have the biggest bitcoin mining due to the cost of electricity in their country was very low.
But i don't think that bitcoin will go down just because of that because other countries in ASIA are starting to adopt Bitcoin.

What you said is true that china is the main center for Bitcoin mining and their are lot of users who are holding bitcoin from low, and their exchange are the highest trading volume in crypto world but this are all old news latest one is South Korea and Japan are leading the bitcoin trading and even they have given bitcoin legal status. That is why the market is now spread between so many countries that china is not able to create any panic in the market.

Good to hear that, thanks for updating me, there so many threads here that i cant keep up Tongue

Persiville

member

Activity: 144

Merit: 10

Earn with impressio.io

Quote from: christsstrong on September 23, 2017, 09:44:53 AM

China is not influential i think. Its peoples fear that is affecting bitcoin.

Slightly you were right but as I can see from the recent news and even some would even say that in China, there are so many people that are using bitcoin, or should we say they are mostly investors and that news took a great deal at the bitcoin's price which is the reason why it goes down for a bit, but it will rise again.

amandavsc

newbie

Activity: 17

Merit: 0

Quote from: sa3loo on September 23, 2017, 08:12:32 AM

China is a odd country no twitter no facebook no btc Undecided

communists do not like freedom. communists are odd.

kucritt

full member

Activity: 616

Merit: 100

because chine is the 1 of big country that use bitcoin. chinese people mostly know about bitcoin and when china banned bitcoin i think they sell all their bitcoin and makes bitcoin rates down. second is china has many investor in bitcoin sector

christsstrong

newbie

Activity: 81

Merit: 0

China is not influential i think. Its peoples fear that is affecting bitcoin.

Creepings

sr. member

Activity: 546

Merit: 257

Quote from: silent17 on September 23, 2017, 08:14:33 AM

As far as I recently read, china hold at least 20% of bitcoin around the world. They also have the biggest bitcoin mining due to the cost of electricity in their country was very low.
But i don't think that bitcoin will go down just because of that because other countries in ASIA are starting to adopt Bitcoin.

That is the reason why China is so influential when it comes to the price of bitcoin, they hold a lof of the biggest mining people in the world, the reason they hold at least 20% of the bitcoin circulating in the world. It will be affecting the price because they hold 20 percent of the bitcoins, how can't it affect the price?

TanyaDegurechaff

full member

Activity: 182

Merit: 100

They say a thin line separates genius and madness.

since china is one of the most powerful in terms of economy every move they make will have a huge impact even in the world of cryptocurrencies. and there are many btc users that are Chinese that is why they affect the price of btc.

Lampaster

sr. member

Activity: 406

Merit: 255

A large number of Chinese has a great influence on everything in the world. This applies not only to bitcoin. Imagine what will happen if China will suffer an earthquake and destroy production capacity. The world will suffer a collapse. Cryptocurrency is also not escaped from such dependence.

fianaindriati

sr. member

Activity: 700

Merit: 250

Quote from: bit-emperor on September 23, 2017, 07:47:41 AM

Why is china so influential with bitcoin prices?

to my knowledge the reason chinese is very influential on bitcoin, because I think half of the shares of bitcoin is already held by china.
so if china do negative things to bitcoin, then instantly influence to bitcoin.

Dhaaaw

full member

Activity: 140

Merit: 100

Quote from: Emoclaw on September 23, 2017, 07:53:57 AM

Because they (used to) represent a huge chunk of trading volume, as well as total network hashrate.
They were a major country prior to banning Bitcoin. But now not so much really.

I thought it was Japan with the most trading volume because of the fact that you can pay everything in bitcoin there and i mean everything. The China thing might have happenned because of too many media and members of the community paying too much attention to them making it seem like if China pulls out bitcoin dies which made its value unstable.

kamikadze69

hero member

Activity: 742

Merit: 500

Quote from: Antonas1 on September 23, 2017, 08:04:43 AM

Do you know how much people in China ? Until now china is the largest bitcoin user in the world.
With their population, of course if they are panic and sell their bitcoin because of their government policy, it will have a big impact on prices.

I agree with you, they are currently also the largest producer and user of masin mining in the world (due to low electricity costs in China). just a bit of bitcoin-related regulation is bound to have a big impact, and do not forget that there are many Chinese investors.

Daniel91

legendary

Activity: 3374

Merit: 1824

Quote from: silent17 on September 23, 2017, 08:14:33 AM

As far as I recently read, china hold at least 20% of bitcoin around the world. They also have the biggest bitcoin mining due to the cost of electricity in their country was very low.
But i don't think that bitcoin will go down just because of that because other countries in ASIA are starting to adopt Bitcoin.

Bitcoin's price is very variable and any news, positive or negative, can affect bitcoin.
The price of bitcoin fell due to bad news from China but also from Morgan.
Of course, when panic begins, it is difficult to stop it and price starts to fall.
Bitcoin will eventually recover when some positive news appear and demand becomes bigger than the offer.

nappoleon

full member

Activity: 322

Merit: 100

Aside from the common reasons, probably they think Satoshi is Chinese hence they feel pride but nah. China is just onto something.

dillpicklechips

hero member

Activity: 994

Merit: 507

Quote from: Emoclaw on September 23, 2017, 07:53:57 AM

Because they (used to) represent a huge chunk of trading volume, as well as total network hashrate.
They were a major country prior to banning Bitcoin. But now not so much really.

Yep. As time goes by, Bitcoin is much more distributed across the globe making it as less focused in one place and not being dependent. The impact is not that great as what it should be in the past if they ban it a year or years ago.

susila_bai

hero member

Activity: 1260

Merit: 524

Quote from: silent17 on September 23, 2017, 08:14:33 AM

As far as I recently read, china hold at least 20% of bitcoin around the world. They also have the biggest bitcoin mining due to the cost of electricity in their country was very low.
But i don't think that bitcoin will go down just because of that because other countries in ASIA are starting to adopt Bitcoin.

What you said is true that china is the main center for Bitcoin mining and their are lot of users who are holding bitcoin from low, and their exchange are the highest trading volume in crypto world but this are all old news latest one is South Korea and Japan are leading the bitcoin trading and even they have given bitcoin legal status. That is why the market is now spread between so many countries that china is not able to create any panic in the market.

silent17

full member

Activity: 420

Merit: 119

As far as I recently read, china hold at least 20% of bitcoin around the world. They also have the biggest bitcoin mining due to the cost of electricity in their country was very low.
But i don't think that bitcoin will go down just because of that because other countries in ASIA are starting to adopt Bitcoin.

shintosai

hero member

Activity: 756

Merit: 500

Quote from: Antonas1 on September 23, 2017, 08:04:43 AM

Do you know how much people in China ? Until now china is the largest bitcoin user in the world.
With their population, of course if they are panic and sell their bitcoin because of their government policy, it will have a big impact on prices.

exactly with their populations and with the wide knowledge about crypto they really made a big impact especially now that their government
are really trying their best to regulate and make a law about this currency as they are feeling threat to their economy.

Topic: just a simple question? - page 9. (Read 2897 times)