Bitcoin Forum

China Influences Cryptos, Like It or Not!

Researchers from Princeton University and Florida International University are showing a new picture of Bitcoin’s misty world. Ben Kaiser, Mireya Jurado, and Alex Ledger teamed up to analyze the Chinese influence on cryptocurrency’s poster child — Bitcoin. The Asian socialist regime, which extensively monitors its Internet and has remained relatively negative on the scope of […]China Influences Cryptos, Like It or Not! …

Read more: https://www.trackcoinmarket.com/en/crypto-news/33175/china-influences-cryptos-not

Read through the article,but sadly it makes little sense as there was nothing as close to a concrete reason to believe that China controls Or influences the bitcoin,probably maybe when something more solid on this is brought forward we would be obliged to discuss on it.

But for now it's not just worth it

What a shrewd plan to place a ban on cryptocurrency related activities and still influence it under disguise ??? ???

I think the article is true, we know that China is the creator of ASIC and one of the largest users of bitcoin networks through mining. when the country starts to regulate their mining network, it will slow down the current transaction confirmation. unless many countries begin to support mining bitcoin.

Going by the huge population of China, they are supposed to have a huge influence on cryptocurrency. But when you look at the actual key countries in cryptocurrency in terms of acceptance and dominance, the Chinese are no where near the Koreans and the Japanese.

How can a country that banned Bitcoin and Bitcoin mining be influencing it?


I agree. The only way a country can influence something is through regulation. China managed to cut itself from it and made all businesses and exchanges leave the country.

Yes, as china has the world's most populated country and many people there want to compete in terms of money. China also wants to get ahead of everyone since they want power.

I think that the only major reason that they can influence because majority of mining farms are still located in China. Japan is slowly entering the mining bitcoin business though. And Bitmain has headquarters around the globe. If China will start cracking down on Bitcoin mining, I'm sure that there's a lot of nation willing to take the lead.

If this was 2013-2015, I believe that China has a lot of influence over the crypto markets. But today, I don't think there's much weight to their existence in the crypto world except for their miners and a lot of machines coming out of their country. Control over the markets have been distributed for the past 2 years, and we have witnessed that during the ATH. Any news coming out of China has been ignored since 2015 after their on-off stance regarding bitcoin and since then, traders are ignoring anything about China.

One of the things that I don't understand most is this Chinese issue. Everyone expects a move from the US, but most of the mining activity is being done in China. I don't know if Bitcoin could have survived without Asian countries.

I think if some one show a good interest and do best for the bitcoin i think i must agree and appreciate them for doing this if developed country like China is welcoming bitcoin and they allow bitcoin then it is a good sign for the bitcoin to grow in the world for a countless time and not even for a new years bitcoin will be survived for life time and if the china support it it's value will not be for imagination but it will be far from it's present position and i hope that bitcoin is the one which is important and useful for everyone.

Actually China wants to restrict crypto.  several times we hear news about China not allowing it's citizens to buy crypto.  Because it being decentralized currency with features of anomyty.  But China oppose all the democratic moves.  It can not like decentralized form of currency over which the government does know.

If no one is harmed by a handful of people there is no problem, even I know that China and the US are competing to increase their mining to master the big mining sector in the world, so it's not too dizzy for the news ...

it has been known that the asian continent has a major driving force when it comes to the crypto space with china leading the other countries, it can not be said with precision the exact reason for which china has been made the for runner of the technology in Asia but i sure do they have a major influence in the community

I was surprised by the recently released data that about 74 percent of bitcoins are mined in China. The country that has been struggling with cryptocurrency for the second year and forbade miners to use their cheap energy for mining cryptocurrency still has three quarters of bitcoin mining capacity. The state in this case does not want or does not want to control the implementation of its prohibitions?

I don't doubt it if China influences crypto than any other country. Just consider the number of people in the country mining bitcoins with a lot of interest in pursuing crypto despite government hostility of crypto.

here we go again with a racial social drama that is normally only seen by reddit and fox news dramatists

let take antpool.
did you know they have multiple facitilities. multiple managements and work in multipl countries..
OMG SHOCK..

take the block rewards of all the blocks tagged as "antpool". you will see that there is not total random address per reward. nor is it a single address for al rewards. but instead a half dozen known addresses that scoop up the rewards.

each address depicts a different facility in a different location run by different management.
you can tell there are different management as some of the addresses are bech32 and some are legacy addresses. meaning each facility gets independence to choose to support a certain feature.. or not.

ill give you a tip. most facilities are just set up and then leased out. they are not controled by or managed by asians. the asians involvement is usually just to accept rent from whoever does manage the pools. and as said above those in control of what transactions get collated into a block and who pays the electric/rent bill is most of the time not even asian

here is another example take slushpool. which many have deemed as asian.. well thats actually not "china".. because its thailand managed

f2pool is an open pool for miners around the world. so although the main stratum ip is deemed as chinese they also have other stratums. and as i said the users are from around the world.

btcc.. well lets just laugh. they dropped from double digits to now below 1% of network hashrate. no need to waste too much time on them

the real funny part is that for years altcoin GPU farmers have been screaming how asics are evil due to asia... yet guess where ATI(AMD) GPU's come from..

many scream about the pools being asian.. yet iceland georgia, mongolia, ukraine, thailand, america never get mentioned as being the actual facility locations of pools tagged as asian.. because that destroys the narrative of the trump/fox news/reddit mindset kind of people who like to racially point fingers at china

if people could actually stop just copying and pasting badly wrote scripts of out dated propaganda. and actually use their fingers to search out the sources. it would shock them how easily they are led into such social drama

True. Chinese influence in cryptocurrency cannot be ignored. It can bane or boon depending on situation. Cryptocurrencies reach should be distributed evenly worldwide as possible but with China's big population/users, its a force to reckon. Any regulation China made, will affect the cryptos movement imho.

Even if China is very harsh when it comes to Bitcoin but the reality is they have a massive adoption including miners. China cannot stop this craze and their citizens will always find a way to get involved in crypto, as one of the largest in terms of population no doubt that they can influence this space.

I don't see any problem. Only those who believe the western propaganda are scared of China. I don't see any problems with it.

that's the main issue they're talking about: mining concentration. they're talking about mining pools, which could potentially collude to 51% attack the network at the behest of the chinese government. it doesn't seem overly concerning since the pools don't actually control the miners. miners are operating from farms all over the world. how long could they control majority hash rate, and what damage would it really do?

i also don't see why the chinese government would be interested in 51% attacking bitcoin. what do they have to gain?

China is a very large country, therefore it is not a strange thing when China gives a big influence on the development of bitcoin worldwide. China cannot be separated because the transaction volume and market share owned by the Chinese state is very large.

China is one country that still restrict cryptocurrency for transaction. China right now is one strongest economic country in the world and i am believe when they untight regulation about cryptocurrency, china will influence cryptomarket and make a big movement in market

Agreed. China's miners left their country and spread out to other countries. They made their countries power over bitcoin decrease. But I still believe they have some miners left in their country. Bitcoin is untraceable. Well, maybe they'd be found through high bills for high power consumption?

China is able to provide enough effect for the development of crypto, with Chinese influence the stock exchange trade is also a little worrying, this country makes the crypto value slightly shaken. Chinese games about crypto will be a lesson for crypto holders.

besides mining which is popular China is a big investor of bitcoin / cryptocurrency in the world, whatever the bitcoin / crypto turmoil in China can affect the value of bitcoin, that's right in my opinion

we know, that crypto enthusiasm in China is very large, and the big factor that affects the value of bitcoin can reach 20K by the end of 2017 is a high volume of crypto trading in China.
they are greedy, and never satisfied, they also want to control bitcoin trading.

china is one person.. didnt you know?
....
oh wait china is billions of people all with their own brain.

so even if "china"(sarcasm of: one entity) did own the hashpower(which they dont). we can still rip apart that "china" is a single brain

..

so to all those with the typical racial mindsets that sound like they love to read reddit and watch fox news ill say this.

when you look into the sky and see these machines in the sky with a tail of vapour behind them. they are not chemtrail dispersing machines. they are called this thing known as an aeroplane. yea surprising right. people get on aeroplanes and actually leave a country. oh and there are over 200 countries. i know you have the belief there is only usa, mexico, russia and china and they all hate each other and people should avoid leaving america and instead need a wall. but if you get on a aeroplane you can travel AROUND the world. yes the world is also round, which i know surprises you also.

in short. try experiencing the diversity of the world and stop being narrow minded and spoonfed racial finger pointing crap
(p.s im white british.. in case your narrow mind auto-rages to want to declare that i must be chinese to point out racism against china)

it is true, that China is an influencer of the cryptocurrency trend, every policy made by China, the public will feel that it is big news
for example, the occurrence of a crash when China banned its population from participating in the ICO, then Bitcoin at that time experienced a crash of about 20%, then FOMO happened which caused BITCOIN to number 19k in November - December 2017

Yes because china is greedy when it comes to money they want always in hype in my opinion

i can't find the post now, but someone made a really interesting point about this: if bitmain dominates the ASIC market and they're installing antbleed backdoors in all their miners, is it theoretically possible that the chinese government could leverage bitmain in a 51% attack? bitmain could remotely shut down active antminer machines that aren't participating in the attack. that would seriously cut down the number of "honest miners" on the network in an attack scenario.


isn't the issue the chinese government? that is one single entity. granted, there is always internal disagreement within the CCP, but we're not talking about chinese people in general.

From deep of my heart i don't like it because they always do that everytime, hype or fud. But if that can make bitcoin price increased, i will like and support it. Just don't like in past when they said banned bitcoin easily.

Because of the abundance of electricity plus their environment as well, that's why China is really suited for mining. But as I have said, Bitmain is slowly looking for viable place as well.

1. https://coinninja.com/news/bitmain-expanding-in-u-s-and-bringing-jobs/
2. https://www.coindesk.com/bitmain-expands-to-switzerland-as-china-cools-to-bitcoin-miners/

I like China because its the first country have allowed for using bitcoin transaction and have support ico investment and bitcoin mining project, although last year they have banned bitcoin transaction but China have give positive effect for developing of bitcoin.

China has the biggest population in the world, so it is expected that they will have a major influence in any market, when they participate in that market. I think the impact of the Chinese are hampered by their strict government regulations and this will cancel out most of the influence that they will have in the future.

China is a economic giant and they have a very disciplined and hard working workforce, compared to other countries. They are also more technically advanced than most countries.

china is the great country, and they use the human resources and many think to get some profit from it, and we all know the biggest mining farm is in the china, there are many miners that mine bitcoin, so yes i believe about you, that chine is influences cryptocurrencies and bitoin

China population as well as affordable electricity could be reasons to influence cryptocurrency. However, Japan, Korea, etc. is gradually taking  the lead because of the ban China government/bank imposed on cryptocurrency activities. The trend could shift if Chinese government continues to clamp down on cryptocurrency activities.

this is a misconception, because bitcoin power can be obtained not only by China

No Bitcoiner would accept or like it.
Cryptocurrency enthusiasts do not like centralization especially when it comes from governments.
No country should influence cryptos.

everyone knows that China influences a crypto, but they have bad actions, they are greedy and want to master the crypto world.

China is able to make Bitcoin reach $ 20K, and China is also able to make Bitcoin fall until today.

Hard to deny the influence, but one thing is for sure: China cracking down on crypto won't change the fact that blockchain will change the world.

The ironic part is that half of China's banks use blockchain technology while the government cracks down on ICOs, haha

The banks there are threatened, plain and simple.

China is a strong country that currently has the largest Bitcoin mining company in the world, and I am worried that if mining companies in China unite according to Bitcoin experts if Bitcoin mining companies in China unite can destroy Bitcoin, I read in an article, some I do not like this. Because if China moves there will be a price change for bitcoin.

Since China has a stronge influence on cryptomarket and enough power to effect trends in market, this  influence on exchange trade make investors be a little worrying. Also, it has majority of bitcoin mining companies and we'll see what will happen, if it will increase its power on cryptomarket. I would not prefer any country has a such power on cryptomarket.

Every country can potentially influence Bitcoin. Venezuela is, India is, even smaller countries would if they suddenly announced acceptance. Malta isn't a big country and it influences Bitcoin. Saying that China influences it is nothing but stating the obvious.

Today, China has shifted America as the country with the largest economy in the world, including in the crypto world.

in China many bitcoin miners, speculators, also a lot of demand and supply, and now China has created a conducive crypto ecosystem, so it is clear that China influences the crypto market.

and I like it!

China will always influence the crypto world partly because of the massive population they have got but surely not restricted to that and a lot of people in china seems to be interested in crypto currencies which means there is hope for recovery

we all know that China is the big country that uses bitcoin, and I think China is influences in the bitcoin and cryptocurrencies, but many people don't like it because China can 'control' the bitcoin value, but I think it is wrong because bitcoin with this value right now is hard to manipulated

Of course China has as influence in the crypto world. They want to be the frontrunner of technology. They want to be the leader in AI --so I’m not surprised if they want to dominate blockchain and crypto too. For sure they can even design their own crypto that they'd want to serve as a global currency. What do you think?

I'm a little confuse with the article as it proves very little to nothing but YES, I do agree that China have influence in Cryptos because China have numerous Bitcoin mining farm which make them one of leading Bitcoin Miner in the world.

***source
Forbes.ge
cointelegraph.com

I am agree that china will influence in cryptocurrency world. RIght now many project came from china and exchanger from china have big daily transaction volume. China already become big country in economy after America and i am believe china will dominate in cryptocurrency world too in near future

I have always supported the decisions that China has made, even against the flow, but China has always shown that they always provide security to the entire population. I realized this when last year China banned ICO, mainly based on cryptocurrency