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vrm86
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July 24, 2016, 08:04:28 PM |
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I think the Chinese are mainly the miners, there are not much bitcoin related services in China. They are the sellers of bitcoin.
They mainly the workers for the bitcoin. They work hard and secure the bitcoin network. They do not control it. Agree. Mining farm owners just can't hold all incomes for future speculations, when they have to pay workers, electricity, maintenance etc. Yes, they earn decent amount, but don't thing than can affect BTC global market in that scale. too many people and businesses from all over the world are already involved in this. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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bluechipinvestor
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Activity: 70
Merit: 10
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July 24, 2016, 08:53:51 PM |
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Not yet, but the chances for them to take control increase with the passage of time,
because the hashpower is every day more concentrated in chinese territory.
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Zadicar
Legendary
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Activity: 1330
Merit: 1020
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July 25, 2016, 02:20:16 AM |
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I think the Chinese are mainly the miners, there are not much bitcoin related services in China. They are the sellers of bitcoin.
They mainly the workers for the bitcoin. They work hard and secure the bitcoin network. They do not control it. Agree. Mining farm owners just can't hold all incomes for future speculations, when they have to pay workers, electricity, maintenance etc. Yes, they earn decent amount, but don't thing than can affect BTC global market in that scale. too many people and businesses from all over the world are already involved in this. I do agree, China cant control bitcoin even most of the miners are Chinese. Bitcoin price arent manipulated at all since the price depend on the demand and supply of bitcoin Where all are included all of those who hold bitcoin. As you said to many people and businesses are involved of this worldwide. |
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adejavad
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July 25, 2016, 04:37:36 AM |
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Even if Chinese companies did control Bitcoin, what is the point?
They can't derive unnatural profits - Any attempt to do so would only devalue Bitcoin and the possibility of making profits.
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CoinHopper
Sr. Member
Offline
Activity: 280
Merit: 250
Two heads are better than one.
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July 25, 2016, 04:39:18 AM |
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That's one close vote. I don't think china is controlling bitcoin but they are running a stupid amount of trading bots. I'm pretty sure they ones really controlling bitcoin are from the USA.
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carlfebz2
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July 25, 2016, 04:45:07 AM |
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That's one close vote. I don't think china is controlling bitcoin but they are running a stupid amount of trading bots. I'm pretty sure they ones really controlling bitcoin are from the USA.
How sure you are that USA controls bitcoin? I dont think that bitcoin can be manipulated or being controlled by anyone. I guess all of us are the one who affects bitcoin price since all of us are bitcoin holders especially to those bigtime amount holders of bitcoin. It cant be manipulated by anyone and thats the nature of bitcoin. |
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boyptc
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July 25, 2016, 04:58:46 AM |
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Even if Chinese companies did control Bitcoin, what is the point?
They can't derive unnatural profits - Any attempt to do so would only devalue Bitcoin and the possibility of making profits.
Well it is good that someone is controlling and China is not the one who controls bitcoin, but us the users and as well as the developers. I believe that even China is controlling bitcoin it doesn't mean that they are the one who can do whatever they want with the price increase or decrease with bitcoin. |
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Omegasun
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July 25, 2016, 05:02:47 AM |
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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?
https://bitcointalk.org/index.php?topic=1465136.0Stop spamming; Read before you post; don't gamble away the money you make with your shitty signature ad. he didnt enroll in any signatur campaign. obviously he is not spamming. he is just asking. btw. OP i think china has the large minng company of BTC. basically they are controlling btc price in the market because they are the supplier of a large volume of btc. I think if their country hit by financial crisis. i think maybe btc price will be affected since they are playing a major role in btc world. hahaha |
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Jambolb2
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July 25, 2016, 05:03:40 AM |
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How sure you are that USA controls bitcoin? I dont think that bitcoin can be manipulated or being controlled by anyone. I guess all of us are the one who affects bitcoin price since all of us are bitcoin holders especially to those bigtime amount holders of bitcoin. It cant be manipulated by anyone and thats the nature of bitcoin.
Really, I think bitcoin is crytocurency free in other words nothing is set. But some people who have substantial funds could play a bitcoin prices that often we know by the nickname "whale". But I'm not too concerned about it. And I think also of China has nothing to do with bitcoin, the same as other countries china only bitcoin users. hehe |
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CoinHopper
Sr. Member
Offline
Activity: 280
Merit: 250
Two heads are better than one.
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July 25, 2016, 05:09:38 AM |
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That's one close vote. I don't think china is controlling bitcoin but they are running a stupid amount of trading bots. I'm pretty sure they ones really controlling bitcoin are from the USA.
How sure you are that USA controls bitcoin? I dont think that bitcoin can be manipulated or being controlled by anyone. I guess all of us are the one who affects bitcoin price since all of us are bitcoin holders especially to those bigtime amount holders of bitcoin. It cant be manipulated by anyone and thats the nature of bitcoin. Because the us hedge funds control everything. they have been buying and playing with the bitcoin price since its first pump. |
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BitHodler
Legendary
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Activity: 1526
Merit: 1179
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July 25, 2016, 05:19:44 AM |
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That's one close vote. I don't think china is controlling bitcoin but they are running a stupid amount of trading bots. I'm pretty sure they ones really controlling bitcoin are from the USA.
USA controlling Bitcoin? Don't make me laugh. China controls every aspect of Bitcoin from being the far majority when it comes to the world hashing power, till the trading volumes. Western exchanges look at China to see what direction they will be moving to. When China doesn't move, western exchanges will also not move. |
BSV is not the real Bcash. Bcash is the real Bcash.
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btcdiggingmaster
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July 25, 2016, 05:27:19 AM |
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We people don't have exat idea only china is controlling bitcoin, but through some blog most of the bitcoin farm are with them, because china biggest bitcoin farm.If they dump all their bitcoin in one shot we will see more price dump.BTC
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JeffBrad12
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July 25, 2016, 05:41:11 AM |
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That's one close vote. I don't think china is controlling bitcoin but they are running a stupid amount of trading bots. I'm pretty sure they ones really controlling bitcoin are from the USA.
And again one of the trolling post. reading about more information before giving any shit statement. give me a reliable source about your sentences and I'm very doubted about that.   |
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boyptc
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July 25, 2016, 05:50:58 AM |
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We people don't have exat idea only china is controlling bitcoin, but through some blog most of the bitcoin farm are with them, because china biggest bitcoin farm.If they dump all their bitcoin in one shot we will see more price dump.BTC
People tend to think that China is the one controlling bitcoins because it has a lot of miners in the world. Majority of miners are living in China. That is why they are saying that China is controlling bitcoin but in reality it is not real. They only have the majority. |
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Pursuer
Legendary
Offline
Activity: 1638
Merit: 1163
Where is my ring of blades...
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July 25, 2016, 07:59:52 AM |
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We people don't have exat idea only china is controlling bitcoin, but through some blog most of the bitcoin farm are with them, because china biggest bitcoin farm.If they dump all their bitcoin in one shot we will see more price dump.BTC
having big mining farms doesn't mean Chinese people have the most amount of bitcoin. besides your last sentence doesn't even makes sense, you say Chinese have the biggest bitcoin farms which means the have heavily invested in bitcoin then you say if they dump all their bitcoin in one shot we see price dump, here is the problem, they are making profit with bitcoin and the higher the price the more they make so why would they want to dump?! besides US had more than 51% of hashrate at some point in the past (GHASH.IO) and nobody seemed to think US is controlling bitcoin! so why now. |
Only Bitcoin
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Kewatia
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July 25, 2016, 10:23:25 AM |
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We people don't have exat idea only china is controlling bitcoin, but through some blog most of the bitcoin farm are with them, because china biggest bitcoin farm.If they dump all their bitcoin in one shot we will see more price dump.BTC
having big mining farms doesn't mean Chinese people have the most amount of bitcoin. besides your last sentence doesn't even makes sense, you say Chinese have the biggest bitcoin farms which means the have heavily invested in bitcoin then you say if they dump all their bitcoin in one shot we see price dump, here is the problem, they are making profit with bitcoin and the higher the price the more they make so why would they want to dump?! besides US had more than 51% of hashrate at some point in the past (GHASH.IO) and nobody seemed to think US is controlling bitcoin! so why now. The Chinese miners are mainly seller of the bitcoin. The cost of their mining is around $400 at the moment. |
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romero121
Legendary
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Activity: 3164
Merit: 1213
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July 25, 2016, 10:31:38 AM |
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China have the highest number of users as well miners. Based upon this price fluctuation happen in accordance to the active involving of users. For this reason most users misunderstand that bitcoin is controlled by China.
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Jimbola3
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July 25, 2016, 10:42:16 AM |
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China have the highest number of users as well miners. Based upon this price fluctuation happen in accordance to the active involving of users. For this reason most users misunderstand that bitcoin is controlled by China.
Yeah no doubt that china have bigger and more mining farms and off course more users out there and so if the users there stop using them then that could be an issue to think seriously and they stop mining them then would be bad to hear of the number of new bitcoin to be mined will be very less ! |
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hase0278
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July 25, 2016, 10:45:04 AM
Last edit: July 31, 2016, 08:25:37 PM by hase0278 |
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In my opinion maybe China can control bitcoin if they want to. If they want it dead, I think they will just force all the miners from them to quit and it will cause bitcoin less miner and of course a dump since those chinese miners would dump. If they want bitcoin to dump, all bitcoiners from there can initiate one.  Because of those reasons, I think even if China ain't controlling bitcoin for now they can control it. |
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Poll
