Bitcoin Forum

In last week bitcoin price because of Chines police regarding  BTC and made affect for rate so here China have higher rate  it's rights or not

Do you mean the Chinese policy towards ICO and exchanges? if so, yes, it really affected the bitcoin price. The Chinese investors somehow sold their bitcoin at lower price and other investor in other countries also made them to sell their bitcoin.

We have always known that the Chinese have a great deal of bitcoin that is nothing new and we have known as a fact that the influence of the Chinese goes higher than that since most miners are form china and the Chinese government is bent on regulating the Chinese exchanges, so this is nothing new.

The biggest farms in the world are held on China is obvious that any kind of FUD or real news that will cause bitcoin to move an step back will  influence directly on the price because people are the ones who hold the btc, not the  goverment.

Bitcoin was trading at a premium in China compared to global exchanges, prior to the government's crackdown. But all that changed once the government took action. If you check coinmarketcap.com Now, you will find Bitcoin trading at a significant discount in China.

Chinese is the leader in the economy in our beautiful world,
which mean they're the most richest people in our world and can determine most of our economy.
and that is happened in our cryptoworld,they're the biggest miners in the world which mean,absolutely they're the biggest Bitcoin holders.
that is why they can affecting the price by only making some statements.
but they're not a fools,they did it intentionally,they know we will facing a hardfork in a few months later.
that is why they made that statements to trigger the weak hands and holders to sell their belongings.
but i believe it will not last long because they will enable it again and allow it again just like before

Even if it is made clear that Chinese have higher amount of bitcoins before the dump happened, maybe it is also clear now that many bitcoin has been sold by Chinese therefore it is not that clear now whether if Chinese is still the one with more bitcoin or another country has a lot more btc now. We will know for sure if another bad news from China will be seen a week or month from now.

It is true that the largest Bitcoin mining farms are based out of China. But if the Chinese government bans the exchanges, how these people are going to sell their coins? After all, they have to cover the expenses, such as hardware, electricity, manpower, air-conditioning, rent.etc. If they are not allowed to sell the coins, how they are going to survive?

lol where you have been all this long ?
of course chinese is the biggest holders,the majority the miners came from chinese.
that mean they are the ruller in this cryptocurrency,they can decide the market price move upward or downward.
with a single statement they can blow the market,and with a single statement they can blow the market.
so obviously they have the 'highest' amount Bitcoin other than else.
more than half of it was in their hand

The effect would have been same even if it was some other country with a considerable part in cryptocurrency market. China is indeed a big player in crypto world with maximum hashing power. Any negative news coming from such country definitely spread a sense of fear in investor. But don't forget Bitcoin is decentralized. In no time the hold will shift to some countries. One player goes down, many are already ready to take its place. Japan is working positively in that direction.

Uhm, first off, I didn't understand what you are asking here. But I'll try to answer to the best of my understanding of your question. You are saying that because of Chinese regulators (not the police) prices of bitcoins went down. That is partly true, but I think it is just because of mass panic seeing prices go down and people just bandwagon-ed it and also sold their bitcoins.

The trading volume before few years was dominated by the Chinese exchanges (+fake volume in some cases) but actually it is dominated by the Western one. For the bitcoin holders, it is hard to estimate which part of the world owns more bitcoin but what it is clear that BTC will not be affected so much in case of a total ban.

China used to hold 30% of trading volume daily but these days it has been dropped significantly, market is still uncertain and price can easily move to any direction most likely it will be dumped hard again when all Chinese will sell off to make a safe exit before their government will completely ban bitcoin.

They have the capacity in affecting bitcoin price when they want to but it was before the recovery on today's price. After what they done and if they tried the same thing over again it wouldn't be as significant as the last time. They're pride put them on bad light and future policy will not much any means to be tolerated and to be ignored by most investors as they just want attention that they don't deserve.

It is right that  people are the one who hold the bitcoin and in real sense people have the influence on bitcoin not government. We are seeing that bitcoin has crossed the figure 4000$ once again although speculations are around the bitcoin. People of China is interested in bitcoin and China government can’t take any action against bitcoin because bitcoin is a decentralized currency.

No wonder they succeed on their plan.
Spreading fuds and trolling around are one of their usual tactics to make a sudden commotion so weak hands are dumping while China is busy collecting coins. So let's just ride the train because they'll make this hype to get their profit.

Actually, if you take a look at the share of transactions, Chinese share dropped significantly and US, Korea and Japan have taken up most of the share. This will be a prime example of how China does not matter to Bitcoin and you will see the price go back to $5000.

Chinese government is an insecure baby whose primary goal is the be under control of EVERYTHING inside China. They will keep crying like a baby ever so often so its better if they cut off Bitcoin now completely and get out of the game so we can all move on.

It's because they are desperately trying to sell for fiat and withdraw from the exchanges before Seot 30th. (I don't think they can withdraw bitcoin - pretty sure the Chinese banned that in Feb while they were investigating the exchanges).

Pretty obvious because they have total control of the hashing and mining power. They have like 60-80% of the bitcoin mining farms so its no surprise that they have put a significant dent in the market price in the last couple of weeks. And you have to remember that China is one of the earliest adopters of bitcoin as well so no wonder that the news coming from them has somewhat crash the price. But let's move forward and forgot the influence that the Chinese has to bitcoin. Bitcoin is unstoppable and even without them, bitcoin can still survived.

Yes,since most of bitcoins held by chinese were sold earlier when china banned ICOs and regulated bitcoin exchanges which resulted in its price fall last week.But as most of it were bought by investors from other countries,soon its price recovered and its price reached $4,000.But now,we exactly don't know whether now china still have lion's share of bitcoin or not.Now,the only factor for which still bitcoin is depending upon china is the large number of mining farms located still in china.If we have more mining farms in other parts of world too,then bitcoin would get completely free from depending on china.

The Chinese government relishes banning/blocking everything they perceive as a treat to their power. From gmail, google, you tube, Wikipedia, facebook and many more, that has not stopped these companies from growing from strength to strength. It will be no different with bitcoin.

Indeed, i doubt that the Chinese mesures will affect the trading volume in Chinese yuan if the exchanges started operating in the territories out of the government control.
Banning bitcoin isn't a solution since people will continue buying and selling it peer to peer using localbitcoin or even in the dark market...

I think couple of years before it was China who use to hold more than 50% of the total btc available in the market. But after US & Japan has come in this space they have started to acquire their % and now mostly its widely spread between different counties and also few of the developing countries do have some share in the bitcoin trading.

I think you missed the part of fake volume. For years the Chinese exchange operated with low fee and when it ended the volume dropped like a stone, so there is no way to know in what extend they were the biggest player or the biggest manipulators.

There is no way to know the nationality of the biggest hodlers too because it is hard to connect addresses to nationality and people may have as many addresses as they want.

it is certain that china has the largest amount of bitcoin in the world because
 of the number of pendudukaonline so digital currency like bitcoin will be widely
 used in the country but the latest blowing news that china will ban the circulation
 of bitcoin which I think this will only be a mere issue in because if chinese prohibits
 bitcoin in the country which is the world's largest bitcoin users so if bitcoin is really
banned in the country it will have an impact on the country's economy

It was one big troll show where bots were constantly selling and buying into their own orders. It went even so far, that bots were pumping through with 10,000 BTC orders frequently. Flash traders basically ruined that entire market with their insanely aggressive way of trading -- no wonder that the Chinese authorities decided to jump in and put a stop to this. What people are seeing right now are their actual and legit trading volumes -- from a few million traded coins per day, to now between 10-20,000 BTC per day. South Korea has greatly surpassed China in terms of volume, and that's a damn fact.

Just remember gold standarts from history. Sometimes governments want to play big. Maybe this is the real reason behind that "banning crypto" theme.Speculation is root of all evil ;)

That most of the miners are based in China because of cheap labour and constant electricity supply does not mean that China holds the highest number of Bitcoin. This is the point where I disagree with posters who believed that. Has anyone thought that the Chinese miners could be mining and selling off immediately instead of keeping the coins? This is highly possible. So, if they sold off, they don't hold it then. Again, I believe why the news from China shook the crypto world is because China is a world leading economy. Any news on the economy from that country should understandably affect the rest of the world.

It is not as surprising, China is liking less and less the fact that bitcoin allow their citizens to avoid their restrictions this is why bitcoin traded with a premium there, but now that it seems that window is going to close then people have not more remedy than to sell for a discount.

There is no policy from China that affects bitcoin or its underlying technology ,the only thing they try to do is regulate the free fall market and restrict those fake volume we usually see from those market and the market fell with these news,since majority of the mining farms are operating from China they do have higher amount of coins but i am not sure the volumes they showcase in these exchanges are exact.

Maybe once China has a high amount of bitcoin. So, when China banning, the price of bitcoin on market instantly plummeted. But in my opinion, this is just a form of China's economic maneuver in cryptoworld.

Its not may be once, in reality even now China holds the majority of bitcoin circulation even after few countries making it an legal payment. Moreover the entire cryptocurrency network getting dump in regards to the changes happening with China is an proof that till days they have major control over bitcoin.

Bans Bitcoin just makes the cryptocurrency market become worse than the past, it cannot stop Bitcoin users trade their coin. And like your said, Bitcoin will be currency for dark market.

We can't denied it actually most bitcoin mining farm are present or located on that country. But taking that way boastfully they started make no sense after all. As they made that move more investors will eventually withdraw support to china and do business at Japan where bitcoin is legalized.

Perhaps investors are moving into the Japanese market, where BTC has been accepted.
The end of this September we will know the exact statement of China about ICO and BTC.
I hope everything will go well and that the market will stabilize.

It could be true since China has the biggest percentage on Bitcoin miners in the whole world. However, having a high amount of Bitcoin won't change anything. They might have a huge volume of Bitcoins then what? Nothing. They can dump all they want, a crash on Bitcoin's price is preferred by many people.

If the mining activity will cease by the biggest mining companies then welcome back mining with cpu/gpu and let's try to get a piece of the bitcoin cake  ;)

The Chinese are a bit fickle and can change their stance easily. So don't give too much weightage to the clarification given by Chinese government towards the end of the month. They can withdraw their consent at any moment.

We just considered  this issues as part of bitcoins life. As it become highly demand in the market the more it become vulnerable to many attacks. Is just a matter of competition, the one who survive is the one who will win the competition. And bitcoin have its own stamina to fight against others.

Yes now in China is increased the value of bitcoin and The Chinese are a bit fickle and can change their stance easily. So don't give too much weightage to the clarification given by Chinese government towards the end of the month.and the competition about the bitcoin is increased in all the country and in very high price in the China  have a higher amount of bitcoin.

The gold standard was the reason there was so much prosperity in those times but governments hate gold because it puts limits to how much they can spend and how much currency they can create, that is why they have put it aside and this is why people have decided to create their own gold, bitcoin.

Yes it so clear from the start that they have huge numbers of bitcoin the same way they do have the most largest bitcoin mining farm and many of them widespread on that country..  But it also clear to me how the government is being blinded for they're boastful attitude that they can control bitcoin and us,, the users,, the investors and the market itself.. They're days would come to an end and it will hurt them badly if banning bitcoin is they're goal..

Oh yes this is not something new in China.
Remember that last few weeks news about banning of exchange and bitcoin and it made smoke in the community, many got panicked and sold their bitcoin in loses while China took that opportunity to buy as much as they can and now they're holding huge amount of bitcoin and they'll soon create their own exchange.
What a strategy!

Tax evasion has always been a big issue in China. That is the reason why the government officials are running scared of Bitcoin. They are afraid that Bitcoins may be used to hide individual wealth, and to transfer wealth abroad. Same is the case in India as well.

What seriously? Is changes gonna happens in china? I don't think that bitcoin rate will affect after the china wipe out totally of bitcoin If they where made this kind of another policy that bitcoin will higher rate there maybe bitcoin price will be boost its price into unexpected one. But im pretty sure that tax will be awful for them.

yes mate i also agree with you about this matter. china plays significant role of crypto market. in last week, due to banned bitcoin by china, Chinese people maybe sold their bitcoin due to panic and result was unfortunately down the price of bitcoin....

Tax evasion is not a thing if they give punishment to the evaders, it's not just light punishment but the heaviest one, then the citizens will forcefully reporting their profit, or wealth from bitcoin so that government can tax them.
since blockchain is really transparent about every transactions going on, it doesn't make sense if they scared of it.

No doubt with that, China have a high numbers of people in their continent so they had a tendency that most of them are members in bitcoin society.
Obviously more of the Chinese persons are engage into a business, so there's a possibility that most of the potential coins and ICO's were from Chinese country.
In addition, remember the banning of ICOS in China it will largely affects the bitcoin community and the value of bitcoin in the market is fall down so high. It means that China have high reputation in the crypto currency industry.

And where it says that this is your wallet? Yes, the transaction is seen but it is faceless. You can be tracked only after you make the exchange of bitcoins for Fiat. But it is also difficult because there are many exchangers that do not require registration and you will remain in the shadows.

It is, China has a big impact that could affect in the price of bitcoin in the market and the proof is the happening in this last few weeks that makes the price fall. Remember that China has been banned the exchage that cause of price fall of bitcoin in the market and also lead on panic selling. Therefore, China is necessary for this kind of industry because of their population.

I do also believe that this is the reason why they ban most of the ICO's on China. Though they didn't directly ban the use of bitcoin, they targeted ICO's to expose any huge "hodlers" to come up. The method might be indifferent still it can be used in evading taxes et al.

I don't think so. Other country men know the fact that China has been making a bad societal view and more or less of their population is getting abused. So there is a tendency that it will affect their name for somes investors in bitcoin. Being trusted is too important ang geographically speaking,this is a way too far to be expected that their country has bigger amount of bitcoin. What about America? It is the biggest continent ever so I think it would be America over China to have higher amount of bitcoin.

talking of the fact before china release regulation about bitcoin and its usage, china indeed have major percentage of bitcoin holding, you can search it in google, i think there's many reliable source you can get there and also bitcoin which generated from mining, china contribute majority of hashpower.

Indeed they have the biggest hashpower on minings thats why chinese people cannot easily let go the bitcoins since it can be a disastrous for the chinese hash owners if government will regulate nor eliminate it. But for now the issue regarding on China's banning seems clear and we should not afraid to buy nor save some bits at this moments.

OP, I am not sure what you mean by higher rate in China. But if you mean they have the most amount of bitcoins, it could be true. I understand they own circa 9/10% of the total coins in circulation which is a lot for one country.

Chinese is the biggest holders,the majority the miners came from Chinese. prices of bitcoins went down. Beginners Bitcoin stabilized but after nothing certain about Bitcoin prices in October

China has a big impact that could affect in the price of bitcoin in the market. but i think this is a good opportunity for those who want to invest in bitcoin

Although the FUDs created by China is gone, but you still need to careful till next month start. Why do I need wait till that time? Haha, simply I want to wait the new candle earlier of October before I decide to buy or sell my Bitcoin.

No doubt that China is the biggest holders of bitcoin. And China being the biggest, they also knows how to circulate and what to do in times like this. But I think they will have a step this coming November fork. What do you think?

Everyone says that China is the largest custodian of bitcoin. How can you be sure? From this information. I know that bitcoin is an anonymous currency and it's impossible to know who owns it. The Chinese mined a lot of coins but they also sell them in huge quantities.

No, bitcoin was not create because of gold been standard or having a stable price. However, bitcoin was meant to be an alternative to financial system and to create financial freedom for common man.

it's just awkward that someone saing the reason of bitcoin created is because of gold though. satoshi nakamoto is creating cryptocurrency called bitcoin because he's tired of those centralized shits and he want to revolutionize the financial technology. therefore bitcoin created, there's nothing to do about gold if you read why bitcoin was created.

LoL ;D, the title mentioned "it's clear now" then you ask they have higher rate or not?
They have big portion of bitcoin for sure, their trading volume btc-cny always be the highest value, at least mostly.
Since, Chinese people out of business, the biggest trade currency switch to Japan yen.
China hold maybe quarter of total bitcoin in circulation, I guess, because they have the biggest mining pools, mining farms and most mining hardware such as antminer s9 produced by Chinese people.

This is the actual plan of china from the first time when we seen the price of bitcoin is getting cheap because of the news we heard before .. but looks at the china exchanges i heard that there is NEO ICO was supported by china right now that more better than ethereum that i thought all ICO will be ban but we are seeing more price increase in china exchanges. .
That is why i think op saying its clear now the purposes  of china. .but actually they will not release bitcoin and ICO since this is their source of money ..

I disagree with you on what you said concerning the Chinese holding the highest amount of bitcoin because if they really does had the highest number of bitcoin the price of bitcoin won't have reach the $4200 range right now.

Yes Senior and it really absurd story when someone think bitcoin was created just bitcoin of gold while gold was financial reserve and bitcoin give financial freedom. However, Satoshi Nakamoto think people something which will bail them out of the world financial economy crisis and he created bitcoin. We both confirmed this in the Southern America how bitcoin save people from their country financial market economy crisis.

Hey mate, i think there is know doubt that  china has a lot of bitcoiner and they are responsible for fall down bitcoin price due to banned issue  and clearly prove that china have higher amount of bitcoin...

Yes the recent china's ban over the exchanges have made an impact on bitcoin market because China was one of the countries having maximum number of bitcoin users. BTW the effect was not too high, bitcoin community is now much bigger than ever before and not dependent on a particular country or state.

It is impossible to know for sure, but there is a high chance that is the case since miners do not sell all their coins and keep some for the future and earn when bitcoin reevaluates in price against fiat.

No doubt that mostly chinese are involved in bitcoin business. Approximately 80% Chinese are member of bitcoin that’s why due to China ban on bitcoin exchanges the price come down and bitcoin affect a bit in the market.

It is 2nd time China came into action against bitcoin but just like previous action nothing bitcoin has affected badly this time too.

Yes, China played a big role in cryptocurrency as a whole. The banning was issued to prevent any further ICO in their country. Not liming the usage of bitcoin but only the implementation of ICOs. The market really took a big hit when that was announced from $5000 to $3000 real quick. I thought it was the end of bitcoin but the bleeding stops and the correction starts.

Chinese regulations authority reduced the effect of China traders on daily trading volume. China traders has been actually control the market and since their  regulating authority started to attack bitcoin in other to create panic most of they cryptocoin's investors has diversified there investment to other assets.

You can understand Satoshi Nakamoto want Bitcoin can help us own our money, about value and the amount of money in Bitcoin. No one can know your balance if they do not know your address and Bitcoin system is decentralization, it can not controlled by anyone.

But that is what I said just with another words, we had a financial system based on gold that worked but that changed when the governments of the world made a transition to a fiat system and now since that system is so bad, the people are trying to create their own system, a financial system based on bitcoin.