Is CHINA CONTROLLING Bitcoin?

[Bunsomjelican]

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.

[jorneyflair]

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.

[QuestionAuthority]

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.

Yes, the former main user base was millennials in the U.S., not Trump supporters or people from the heartland but millennials.  If you're not from the U.S. you might not realize that the millennials that live there are very shallow, superficial and lazy.  Since Bitcoin is no longer trendy, edgy, cool, it doesn't have a lot of utility for a people that want to take a card out of their wallet and buy a hamburger and fries in under 2 minutes.

Millennials will go out of their way to use something that's edgy, will get them laid, or will get them drugs easily but Bitcoin no longer fits into that category.

Definition of "millennials": A person born in the USA between 1977 and 1998 that posts everything they do online (including taking a shit). They firmly believe the world owes them a living. It owes them everything from free health care to a 3 day work week. In other words: a Bernie Sanders supporter.

[Harry Callahan]

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

China had a good influence in bitcoin and if you look at the big mining farms ,most of them are located in China and looking at their population it is hard to imagine that any country could match those power . They were the leading providers of hash rate and their exchanges had the biggest volumes before the government intervention,so i think that they had some influence but not anymore with the price but still the major mining hardware company is from China and they have some control over the scaling debate.

[deisik]

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.

Yes, the former main user base was millennials in the U.S., not Trump supporters or people from the heartland but millennials.  If you're not from the U.S. you might not realize that the millennials that live there are very shallow, superficial and lazy.  Since Bitcoin is no longer trendy, edgy, cool, it doesn't have a lot of utility for a people that want to take a card out of their wallet and buy a hamburger and fries in under 2 minutes.

Millennials will go out of their way to use something that's edgy, will get them laid, or will get them drugs easily but Bitcoin no longer fits into that category.

Definition of "millennials": A person born in the USA between 1977 and 1998 that posts everything they do online (including taking a shit). They firmly believe the world owes them a living. It owes them everything from free health care to a 3 day work week. In other words: a Bernie Sanders supporter.

I always thought that the "millennials" are those born in 2000's

In fact, this is the first time that I see someone referring to 40 year old men and women as "millennials". And to hear that these adults "will go out of their way to use something that's edgy" is even stranger than that, it is in fact bizarre. In any case, I would never equal those born in 1977 and in 1998, or around those years. Obviously, these people are two entirely different categories or even generations which have very little in common in respect to human traits that distinguish one generation from another. The former are grown adults while the latter are just youths (basically, children)

[QuestionAuthority]

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.

Yes, the former main user base was millennials in the U.S., not Trump supporters or people from the heartland but millennials.  If you're not from the U.S. you might not realize that the millennials that live there are very shallow, superficial and lazy.  Since Bitcoin is no longer trendy, edgy, cool, it doesn't have a lot of utility for a people that want to take a card out of their wallet and buy a hamburger and fries in under 2 minutes.

Millennials will go out of their way to use something that's edgy, will get them laid, or will get them drugs easily but Bitcoin no longer fits into that category.

Definition of "millennials": A person born in the USA between 1977 and 1998 that posts everything they do online (including taking a shit). They firmly believe the world owes them a living. It owes them everything from free health care to a 3 day work week. In other words: a Bernie Sanders supporter.

I always thought that the "millennials" are those born in 2000's

In fact, this is the first time that I see someone referring to 40 year old men and women as "millennials". And to hear that these adults "will go out of their way to use something that's edgy" is even stranger than that, it is in fact bizarre. In any case, I would never equal those born in 1977 and in 1998, or around those years. Obviously, these people are two entirely different categories or even generations which have very little in common in respect to human traits that distinguish one generation from another. The former are grown adults while the latter are just youths (basically, children)

No people born after 2000 are called Gen Z or sometimes called centennials. The generation before millennials was Gen X and then Gen Y (millennials) then Gen Z (centennials). Depending on how they're categorized, millennials are roughly considered those people between the ages of 18 and 38 in 2015. So today the oldest millennials would be 40 years old. Almost ALL bitcoiners are millennials. The largest generation of people still alive is the baby boomers (76 million people still alive born between 1945-1965). Remember, this information is only valid for the United States.

You do have access to google, don't you?

Millennials are the social media generation. These are little drones of the collective that grew up believing the groupspeak vomited out on Facebook, Twitter, MySpace and other sites. They have almost lost the ability to think for themselves. Because they are Gen Lazy, they think the entire world should bend over and take it up the ass while they sit around getting fat on fast food while only working 17 hours a week, bitching about everything and still living with their parents.

[deisik]

Millennials are the social media generation. These are little drones of the collective that grew up believing the groupspeak vomited out on Facebook, Twitter, MySpace and other sites. They have almost lost the ability to think for themselves. Because they are Gen Lazy, they think the entire world should bend over and take it up the ass while they sit around getting fat on fast food while only working 17 hours a week, bitching about everything and still living with their parents

As to me, that's mostly bullshit

And it is basically the same bullshit which has been repeated from generation to generation for centuries and millenia in respect to younger folks. Apart from that, you simply can't compare a 40 year old adult with a 19 year old youngster irrespective of current or past generations. Wtf, you can't even compare the same man when he was 19 and when he is 40 since you would be comparing two entirely different persons. This just shows how meaningless such classification is

[QuestionAuthority]

Millennials are the social media generation. These are little drones of the collective that grew up believing the groupspeak vomited out on Facebook, Twitter, MySpace and other sites. They have almost lost the ability to think for themselves. Because they are Gen Lazy, they think the entire world should bend over and take it up the ass while they sit around getting fat on fast food while only working 17 hours a week, bitching about everything and still living with their parents

As to me that's mostly bullshit

And it is basically the same bullshit which has been repeated from generation to generation for centuries and millenia in respect to younger folks. Apart from that, you simply can't compare a 40 year old adult with a 19 year old youngster irrespective of current or past generations. Wtf, you can't even compare the same man when he was 19 and when he is 40 since you would be comparing two entirely different persons. This just shows how meaningless such classification is

Sure you can because they're the social media generation. Everything they know they learn from the same outlet.

I was waiting at Peet's coffee for a friend and saw a late 20 something (maybe 30 something) looking at a Bernie Sanders speech on his phone and at the bottom all these little balloons were popping with hearts and thumbs up in the middle of them.

I asked him if he liked Bernie Sanders and he responded, "yeah a lot, everybody likes him".

I then asked him what Sanders political viewpoint was called. He didn't know.

Then I asked him what his favorite part of Sanders platform was. He didn't know exactly but said, "he is a very giving person and real, not like these fake people".

I then said, if you don't know how do you know you like him? He responded pointing to all the little bubbles popping on the screen and said, "because everyone likes him he must be what we need."

I told him, not everyone likes him. I don't like him because he's a self proclaimed socialist that wants big government, big taxes and a redistribution of wealth. If everyone liked him he'd be president right now instead of Trump.

He just shrugged and said well everyone I know loves him. I looked him in the eye and said, "son, have you ever critically looked at your friends? Maybe they're idiots. Be the smart one in the group and think for yourself.

[deisik]

Millennials are the social media generation. These are little drones of the collective that grew up believing the groupspeak vomited out on Facebook, Twitter, MySpace and other sites. They have almost lost the ability to think for themselves. Because they are Gen Lazy, they think the entire world should bend over and take it up the ass while they sit around getting fat on fast food while only working 17 hours a week, bitching about everything and still living with their parents

As to me that's mostly bullshit

And it is basically the same bullshit which has been repeated from generation to generation for centuries and millenia in respect to younger folks. Apart from that, you simply can't compare a 40 year old adult with a 19 year old youngster irrespective of current or past generations. Wtf, you can't even compare the same man when he was 19 and when he is 40 since you would be comparing two entirely different persons. This just shows how meaningless such classification is

Sure you can because they're the social media generation. Everything they know they learn from the same outlet.

I was waiting at Peet's coffee for a friend and saw a late 20 something (maybe 30 something) looking at a Bernie Sanders speech on his phone and at the bottom all these little balloons were popping with hearts and thumbs up in the middle of them.

I asked him if he liked Bernie Sanders and he responded, "yeah a lot, everybody likes him".

I then asked him what Sanders political viewpoint was called. He didn't know.

Then I asked him what his favorite part of Sanders platform was. He didn't know exactly but said, "he is a very giving person and real, not like these fake people".

I then said, if you don't know how do you know you like him? He responded pointing to all the little bubbles popping on the screen and said, "because everyone likes him he must be what we need."

I told him, not everyone likes him. I don't like him because he's a self proclaimed socialist that wants big government, big taxes and a redistribution of wealth. If everyone liked him he'd be president right now instead of Trump.

He just shrugged and said well everyone I know loves him. I looked him in the eye and said, "son, have you ever critically looked at your friends? Maybe they're idiots. Be the smart one in the group and think for yourself

It is surprising to hear that from someone who has words QuestionAuthority for the moniker here

I don't know who is Bernie Sanders (he had been running for the US presidential campaign from democrats but was superseded by Hillary, if I'm not mistaken), but that doesn't really matter. I think that the total majority of voters irrespective of their age vote for that candidate who is most appealing to them personally. Well, he must also be from the party they stick to, but this again is irrelevant of age

[QuestionAuthority]

Millennials are the social media generation. These are little drones of the collective that grew up believing the groupspeak vomited out on Facebook, Twitter, MySpace and other sites. They have almost lost the ability to think for themselves. Because they are Gen Lazy, they think the entire world should bend over and take it up the ass while they sit around getting fat on fast food while only working 17 hours a week, bitching about everything and still living with their parents

As to me that's mostly bullshit

And it is basically the same bullshit which has been repeated from generation to generation for centuries and millenia in respect to younger folks. Apart from that, you simply can't compare a 40 year old adult with a 19 year old youngster irrespective of current or past generations. Wtf, you can't even compare the same man when he was 19 and when he is 40 since you would be comparing two entirely different persons. This just shows how meaningless such classification is

Sure you can because they're the social media generation. Everything they know they learn from the same outlet.

I was waiting at Peet's coffee for a friend and saw a late 20 something (maybe 30 something) looking at a Bernie Sanders speech on his phone and at the bottom all these little balloons were popping with hearts and thumbs up in the middle of them.

I asked him if he liked Bernie Sanders and he responded, "yeah a lot, everybody likes him".

I then asked him what Sanders political viewpoint was called. He didn't know.

Then I asked him what his favorite part of Sanders platform was. He didn't know exactly but said, "he is a very giving person and real, not like these fake people".

I then said, if you don't know how do you know you like him? He responded pointing to all the little bubbles popping on the screen and said, "because everyone likes him he must be what we need."

I told him, not everyone likes him. I don't like him because he's a self proclaimed socialist that wants big government, big taxes and a redistribution of wealth. If everyone liked him he'd be president right now instead of Trump.

He just shrugged and said well everyone I know loves him. I looked him in the eye and said, "son, have you ever critically looked at your friends? Maybe they're idiots. Be the smart one in the group and think for yourself

It is surprising to hear that from someone who has words QuestionAuthority for the moniker here

I don't know who is Bernie Sanders (he had been running for the US presidential campaign from democrats but was superseded by Hillary, if I'm not mistaken), but that doesn't really matter. I think that the total majority of voters irrespective of their age vote for that candidate who is most appealing to them personally. Well, he must also be from the party they stick to, but this again is irrelevant of age

People get that nick confused all the time. My name in real life isn't QuestionAuthority. I respect quite a few of the authority figures in real life.  I only use that here because so many people on this forum are controlled by groupthink. I question the actions and authority of the so called leaders of the Bitcoin community. In almost every case the authority figures here have ended up being self serving scumbags that care about nothing but themselves (they don't even care about Bitcoin). I question every one of them, what they say and what they believe.

You should research groupthink. You might be shocked and look at this forum a little differently.
http://www.foxbusiness.com/features/2014/08/28/social-media-groupthink-and-spiral-silence.html
http://www.v3b.com/2012/06/social-media-and-the-groupthink-problem/

[deisik]

People get that nick confused all the time. My name in real life isn't QuestionAuthority. I respect quite a few of the authority figures in real life.  I only use that here because so many people on this forum are controlled by groupthink. I question the actions and authority of the so called leaders of the Bitcoin community. In almost every case the authority figures here have ended up being self serving scumbags that care about nothing but themselves (they don't even care about Bitcoin). I question every one of them, what they say and what they believe.

You should research groupthink. You might be shocked and look at this forum a little differently.
http://www.foxbusiness.com/features/2014/08/28/social-media-groupthink-and-spiral-silence.html
http://www.v3b.com/2012/06/social-media-and-the-groupthink-problem/

Okay, I will ask you a question

If you were given a chance to go back in time and change something in your life (and then jump back so that you would choose just for a longer life), would you rather go to 20 or 40 years of age? And how much would change in each age? If we talk about 40 year olds, they were already 25 when Internet took off for real. Facebook as well as Twitter and YouTube are products of 2000's, so you can't possibly claim that all these people belong to the same social media generation simply because there were no social networks as such in 1990's (let alone 1980's)

[QuestionAuthority]

People get that nick confused all the time. My name in real life isn't QuestionAuthority. I respect quite a few of the authority figures in real life.  I only use that here because so many people on this forum are controlled by groupthink. I question the actions and authority of the so called leaders of the Bitcoin community. In almost every case the authority figures here have ended up being self serving scumbags that care about nothing but themselves (they don't even care about Bitcoin). I question every one of them, what they say and what they believe.

You should research groupthink. You might be shocked and look at this forum a little differently.
http://www.foxbusiness.com/features/2014/08/28/social-media-groupthink-and-spiral-silence.html
http://www.v3b.com/2012/06/social-media-and-the-groupthink-problem/

Okay, I will ask you a question

If you were given a chance to go back in time and change something in your life (and then jump back so that you would choose just for a longer life), would you rather go to 20 or 40 years of age? And how much would change in each age? If we talk about 40 year olds, they were already 25 when Internet took off for real. Facebook as well as Twitter and YouTube are products of 2000's, so you can't possibly claim that all these people belong to the same social media generation simply because there were no social networks as such in 1990's (let alone 1980's)

Oh, you must be just a kid. Yeah junior, social media sites existed in the 80s and the 90s. Most of the millennials didn't start using social media sites until they were no longer wet behind the ears because mommy and daddy hadn't bought them computers yet which happened in the late 90s and 2000s.

Your generation thinks they invented everything. LOL

Let me give you a little history lesson. I'm going to start with BBSs like Rusty n Edies in the 1980s and move to Usenet and TheWELL. Then we'll jump to the 1990s and start talking about geocities, tripod and SixDegrees. The very first MySpace was called Classmates and started in the mid 90's. Hell son, I met my first wife on a social media site in the 1980s. LOL

Would you like me to go ahead and run them all down for you or would you like to get your google-fu on.

[majiankun]

You are all cheated. I think this is a trick to sing cryptocurrency. China cannot control the requirements of Bitcoin. China does not need to control Bitcoin. Is this the China threat theory? What are you doing? Really stupid.

[lrvjvt]

Why does China control Bitcoin? I think investors are stupid. Who will trust the CEO of XRP? Obviously it will replace Bitcoin’s status. This is a shameful means! I will sell my XRP.

[collision00]

The lion's share of Bitcoin on the planet is mined in China since China claim the world greatest bitcoin mining framework. In this way, it is most likely that China is controlling Bitcoin at introduce. What's more, it makes me extremely dismal in light of the fact that Bitcoin was made to utilize secretly and p2p. The effect which China makes to bitcoin is exceptionally colossal. I trust that multi day there will be an answer for keep away from china controlling Bitcoin.

[Catch-22]

Nope. Just another product of China’s well-oiled propaganda machine. Notice how everything nowadays seems to be about China? 

[Getmon]

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's a big NO! My goodness, how come this question even entered your mind? Bitcoin being controlled by china? China is not even allowing Bitcoin in its territory, although we also know that despite this restriction a lot of chinese are still very much into Bitcoin. Well, I guess it is not the first time to hear that the largest Bitcoin mining group is chinese, headed by Jihan Wu. But it falls too short to come to a certain point that they will control Bitcoin.

[Sakira72]

China is not controlling Bitcoin  they have a portion of the bitcoin under control but that is just like anyone else who owns bitcoin.

[freestyle112]

I don't think that China controls Bitcoin. Those who spread rumors are prepared to fraudulent buyers and let them sell. Then buy it back at the bottom price. These are the ways of whale.

[MCVXYZ]

This is a very good post because this issue is not only about bitcoin,Its about every decentralized system,I think that no one can control something which is decentralized,because it will be very unrealistic and difficult for someone,especially for China,Let's take another example of controlling something decentralized,its just unbelievable because of its nature...Bitcoin or another decentralized system has no centralized administrator or centralized parts which may be controlled by someone or government,that's why we call it decentralized, it has no links to another centralized systems or even to its own structures.