Is CHINA CONTROLLING Bitcoin?

[rickadone]

I don't think China alone is controlling bitcoin. There are some other players all over the world that can control bitcoin's price as well. Whales hold a lot of bitcoins so if they all decided to dump the coin, they can lower the price of the coin a lot. If they want to pump the coin's price, they can make it pump as well. I think those players have a connection with each other and not a single country alone controls bitcoin.

Exchange sites also play a big part of the value of bitcoin, MtGox. One of the trading platforms that we have seen that has dramatically affected the value of bitcoin by closing down. We can see that the huge trading volume has a big role on the value of bitcoin.

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[drwtsn32]

bitcoin be controlled by all users. but I was quite concerned with the power of china. china is so extraordinary, they have bitcoin users are very numerous. china can do anything to control the price of bitcoin.

The number of bitcoin users from china is no threat, actually. The threat is that many among the bitcoin users from china are large bitcoin holders. In theory, if bitcoin users from china worked together, they have the power to manipulate bitcoin price by a few dollars up or down by either pumping or dumping their coins.

Then it is therefore, a threat. China is known for their unity and manpower. They're like ants. 

you must be american...........

No. I'm asian. 

[arlene05973]

The answer to that question is available on the thread posted here!

☞And, it's ONLY bitcoin families can help stop such MONOPOLY.


Thanks
Arlene

[romero121]

The proper Q would be - Is China highly invested in bitcoin?

Bitcoin is not controlled by China, just of the increased usage by Chinese people and the support provided by Chinese government in mining most believe that bitcoin is controlled by China.

[Nevis]

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?

as far as i know. japanese ones who control the bitcoin. because the word is a name of satoshi japanese. but it is not important who is control of the bitcoin is important we are able to earn money through bitcoin.😇☺☺

[SuperCoinGuy]

The proper Q would be - Is China highly invested in bitcoin?

Bitcoin is not controlled by China, just of the increased usage by Chinese people and the support provided by Chinese government in mining most believe that bitcoin is controlled by China.

I don't think the average Chinese consumers use Bitcoin to purchase goods or services in China, almost the whole amount of Bitcoin in circulation there is controlled by the miners and the exchanges. The bad thing is that the Chinese government can control the Chinese miners and exchanges in the country essentially gaining indirect control of the whole Bitcoin network in China and most importantly could exert a 51% attack if they gather all the hashing power in one big cluster of mining farms. Some food for thought I guess.

[ebookscreator]

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?

as far as i know. japanese ones who control the bitcoin. because the word is a name of satoshi japanese. but it is not important who is control of the bitcoin is important we are able to earn money through bitcoin.😇☺☺

We dont know if satoshi nakamoto is japanese or chinese.. but i think they are relaying how much farmer per country.. and i think anytime they can dump their bitcoin in the market and the price will crash back again in low price..

[marcus_of_augustus]

Maybe there is a street in Germany that has too much control over bitcoin? ... 

Who cares how much China is involved with bitcoin ... they're probably made up of 10 different provinces who hate each others guts because of old war stories from 100 B.C. Like the Southern US states hate NYawkers ... it doesn't matter ...

[pereira4]

The chinamen has a strong influence in Bitcoin since the are the kings of mining due their cheap as hell electricity, they also are in one of the biggest volume exchanges in the game (huobi) so yes its very reasonable that they have a strong impact on Bitcoin economy, but saying "controlling" is simply too strong of a word to claim.

[Hohenn]

Having complete control over btc and having a big influence on its fluctuations is a big difference. China doesnt control btc they are only able to make a big impact on it since they're a big part of the community.

[MFahad]

They don't control Bitcoin, Bitcoin isn't controlled by anybody. They own most of the Bitcoin on the market and a lot of mining power. The Chinese just invest in Bitcoin the most. It would be fatal if they dump all of the Bitcoin they have. But they don't controll it, controlling it would be owning all the Bitcoins on the market and doing whatever they want with them.

The bitcoin is designed in a way that no one can control it. However if you invest a lot in bitcoin or mine a lot then you can manipulate the prices to some extent.

[From Above]

Wow the votes are close on this one - 49 to 51% right now at time of posting.

China definitely plays a huge rule in the Bitcoin network.  They have the biggest mining farmz.

~CfA~

[purebitco]

They don't control Bitcoin, Bitcoin isn't controlled by anybody. They own most of the Bitcoin on the market and a lot of mining power. The Chinese just invest in Bitcoin the most. It would be fatal if they dump all of the Bitcoin they have. But they don't controll it, controlling it would be owning all the Bitcoins on the market and doing whatever they want with them.

The bitcoin is designed in a way that no one can control it. However if you invest a lot in bitcoin or mine a lot then you can manipulate the prices to some extent.

thats true, i dont think that chinese control the price to be honest becaus the  price depends on all bitcoin users

[newcoins1978]

Yes I think its partly controlling it because there are a lot of Chinese investors and users right now.
Another thing is that they are mining a lot..

[ziiip]

Yes China is totally in control of Bitcoin. They are responsible for validating your transactions. If the China pools worked together, they could intentionally inflate the mempool to leech fees from the free market.
Block size increase will fix this.

[bitlancr]

They don't control Bitcoin, Bitcoin isn't controlled by anybody. They own most of the Bitcoin on the market and a lot of mining power. The Chinese just invest in Bitcoin the most. It would be fatal if they dump all of the Bitcoin they have. But they don't controll it, controlling it would be owning all the Bitcoins on the market and doing whatever they want with them.

They are indeed not controlling it but have a lot of power to let the bitcoin fall for sure no doubts about that.
They have a lot of miners although its getting less these days..

[boyptc]

Yes I think its partly controlling it because there are a lot of Chinese investors and users right now.
Another thing is that they are mining a lot..

I don't believe that China is partly controlling bitcoin and China isn't controlling bitcoin at all.
Because we are the one who are controlling it, we the consumers that who are using, buying and selling bitcoins.
It has the affection of the changes for bitcoin.

[jerowacik]

I believe love can do anything. they have a great power capable of leading the world. they can also control the presence of bitcoin in the international market share.

[bitcoineverything]

China is somehow largely affecting Bitcoin due to a fact that they have the biggest number of transactions but this is just a part of a whole. As a whole there are a lot of factors to be considered including usability, adaptability, mining, government regulation and a lot more. These factors does not just focus on China but to all bitcoin users around the world.

[ziiip]

The title to this thread should be Is CHINA TROLLING Bitcoin.
All these shills saying that "We control Bitcoin" obviously work for someone in China.