Topic: Ripple CEO: Bitcoin Is Controlled by China - page 2. (Read 419 times)

In terms of bitcoin mining production, it is true that china owns the majority of mining pool it almsot 40 percent of the world mining pool but it does not mean that the bitcoin is controlled by China. Chinese had joined the bitcoin mining pool almost 3 years yet they dominate it but they can't control the price. It is sill all about the supply and demand. I know he is trying to promote his Ripple but it could never let the Bitcoin down with that bad publicity.

Hmm where are the biggest mining hardware companies based ?

PROOF: Bitmain is selling old hardware as NEW miners!

https://bitcointalksearch.org/topic/proof-bitmain-is-selling-old-hardware-as-new-miners-2244677

https://www.reddit.com/r/Bitcoin/comments/7txh2f/sooo_you_guys_are_aware_that_bitmain_is_selling/


How cheap is electric in China ?

http://uk.businessinsider.com/why-china-mines-more-bitcoin-than-any-other-country-2017-12

But by far and away the country where most of this mining is taking place is China for a couple of reasons. One – and the biggest reason of all – is low-cost electricity or free electricity.

China has very cheap coal-based electricity and also a lot of extra hydro-capacity.

So a number of hydro-facilities in provinces like Szechuan were developed in anticipation of new cities coming online to take advantage of this new inexpensive electricity.

However that electricity is idle, it’s not being utilised so many hydro dam operators have gone into the cryptocurrency mining business and I think this is important to keep in mind as we think about the environmental impact of bitcoin.

If that electricity is just going to waste it’s already less of a negative externality for bitcoin to be having this excess hydro-capacity used for bitcoin mining.  


So just these two factors above state that

1 the worlds biggest ASIC manufactures are running thousands of machines prior to selling them as new
2 electric was/is cheap, free plentiful


The Chinese government surely wouldn't be smart enough to have an interest in having a controlling stake in the biigest asset in a new emerging asset class.


Oh and Garlinghouse the CEO of the 3rd biggest cryptocurrency, got to where he is today by being a total dick that does not know what he is talking about. LOL Sarcasm

I think it's kinda foolish to say that Bitcoin is controlled by China lol. Bitcoin can be manipulated by big whales and influential persons. Most cryptocurrencies are banned from entering China then how can it be controlled? He only wants us to buy some Ripple for thoes kind news.

Don't believe this Ripple's CEO. He is trying to prove that bitcoin time is over now and the altcoins time starts! Bitcoin is a decentralised digital currency, how can China Control bitcoin? No way. Some lousy news, rumour hits the blockchain technology that's why bitcoin's price is decreasing every day, But he should mind that without bitcoin, there will be no altcoin.

The chinese government bann BTC long time ago, how in earth Garlington didn't know all these?

But then true BTC can be manipulated by those who owns a lot of it.  They may not be chinese but they can cause the price to go up and down forcing those new investors to sell what they have. Garlinghouse just want to promote his XRP and this guy knew how to do it well.

This is the most ridiculous news that I have ever heard so far. But it can be possible if they owned atleast 40-50% of all Bitcoins, but I really doubt that.

Well I guess I understand what he is trying to say, but I don't really agree with him on most aspects. Economy leaders won't of course just switch to bitcoin over night, specially if that doesn't give them any advantage. I guess it's no surprise why the financial system had hardly evolved at all during the past decades. It's because people in power don't want that to happen. Of course that bitcoin was made to disrupt that power, so they can't just ignore it, and will have to deal with it eventually.

As for mining centralization, is something that is real, but let's not forget that bitcoin adoption still didn't happen. If the interest in BTC increases, the interest in the mining industry will increase as well, and powerful companies in other countries can invest in mining if they wont, resulting in less centralization, so I don't think that's a real issue.

Do you know that, Ripple doesn't qualify to be a crypto currency because it is centralized like Banks and that is the reason why Ripple can be partnered with Banks worldwide due to its transaction processing capability. Ripple doesn't have any characteristic to qualify as a decentralized crypto currency. So you can very well consider such statements by the ripple CEO coming from a centralized financial sectors similar to JMP CEO Jemie or Mr. Buffet. It's just an well though out plan to destroy the reputation of bitcoin and nothing else. This claim doesn't have any substance or documented proof.

I think it is not possible to controlled by any government as it is decentralized.

I never thought again that they control bitcoin, because their attitude to bitcoin is very bad. I think they stopped to control bitcoin.

but I think this reason is acceptable, because they are greedy and selfish, want to master bitcoin, and it's like the year before.

they will not stop to dominate the bitcoin market, although many people hate them for their bad attitude.

What?? This is the dumbest story made obviously for black propaganda.. Desperate actions and statements to make them relevant in the ranking and looking at bitcoin as a hindrance to their popularity.. This is beyond insane,, it’s ridiculously untrue and full of biases.. As China as most hated country at this time,, have done tremendous move to discredit bitcoin since then..

CEO nowadays are politically chosen and not intelligently voted.. In short just total garbage..

I dont believe that Bitcoin  is controlled by China. China is a developed country but not to the extent of it controlling bitcoin. Bitcoin is not controlled by any country but by demand and supply

Can not 50% of all Bitcoin is in three companies - it's a fiction. With this package, you can control Bitcoin regardless of other factors, but this is not.
I agree that there are a lot of investors from China, but they are not such big players.
Ripple attracts attention, it's just marketing.

That person don't even know the records of Bitcoin adoption. one can check and learn Bitcoin is adopted and legalized in USA, russia,  Japan, AUS, BRAZIL etc etc  and other countries but not by china.. with this can we say  these countries are controlling BTC?

Fact is that the Ripple CEO don't even know China didn't even legalised Bitcoin .. just a foolish trick to degrade BTC and market his Ripple  

unfortunately these people are feeding off this attention that we are giving them. for example if the news sites (that there are more of them that you could count these days) stop reporting every single bullshit on the internet then these trolls won't be able to get what they are looking for.
this is just a desperate attempt to prevent the crash of XRP that has been ongoing for a while.

Bitcoin is decentralized. Can it be controlled?
How about ripple? can it controlled by ripple?
I think XRP is one of the tokens that can be controlled.

I won't say his comment is a piece of shit (Though I know it is). I would mildly say it is laughable. So, why did bitcoin not collapse after that dramatic pullout and blacklisting from the Chinese last year? I think the XRP boss is trying to gather attention to himself. Anyway, I think it won't be a bad thing for anyone to buy into XRP now that the price is dipping. I will but that should be around $0.20. My gun is already corked in readiness for that buy.

Absolutely waste speech.This is not the right way of business, and obviously he want to destroy Bitcoin reputation, but he can't. And now you can see the XRP is also decreased now. Bitcoin is the genuine currency which gives real profit to their investors. Can't beat it !  

The crow calls the raven black or in this case calls the dove black.

anybody who has been around for a short while and cared to learn a thing or two about centralization and control and looked into different projects knows very well that Ripple is the most centralized cryptocurrency that has ever been created.
the fact that they are bold enough to cover their own shenanigans and pretend it is not centralized is more than enough, now they are trying to attack bitcoin? all I can say is pathetic...


correct. they are pools. but does it really matter? even if 100% of the mining power were in fact coming from China it still wouldn't change a thing. because first of all miners are workers not the whole network and secondly it is a free market, nobody is preventing the rest of the world to have higher hashrate. in fact UK used to have nearly 60% of the hashrate at one point in only 1 mining pool (GHASH). where were this idiot then to call bitcoin controlled by UK? (I say UK because CEX.io hq is in London)

Yes, I think this CEO is a very vicious person. Controlled by China? Is XRP losing value? Why else say that?