btvGainer
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August 09, 2016, 10:44:13 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?
If mining is controlled by china.it doesn't mean it is controlling bitcoin also.They can manipulate bitcoin price but not the bitcoin |
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Ruhtilg
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August 11, 2016, 10:59:39 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?
If mining is controlled by china.it doesn't mean it is controlling bitcoin also.They can manipulate bitcoin price but not the bitcoin After the halving, the newly mined bitcoin will be reduced. So the Chinese will have few coins to sell in the future. |
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shinratensei_
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August 11, 2016, 02:23:08 PM |
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No, they don't.
The Chinese people are just too many so it appears that they are controlling it.
Of course, they share the same idea because they live in the same country.
So the movements of their people in the market are the same in majority.
currently around 80% of all Bitcoin is traded in Chinese Yuan. China has maintained more than 50% of the global Bitcoin market ever since of 2013, so we can say China is controlling bitcoin. holy crap thats scary! doesnt surprised though China basically owns the USA with all the debt thats owed and all the things we need from china China has billions of population that is why Antshare https://bitcointalk.org/index.php?topic=1571738.0 can be a good investment for us crypto users. The ICO has just started and it now got 1200+ btc. LOL, where from you know about the relationships between ico and the population, and where from you know the investing in there is a lot of Chinese people?are you just making jokes? |
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chixka000
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August 11, 2016, 02:57:29 PM |
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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?
If mining is controlled by china.it doesn't mean it is controlling bitcoin also.They can manipulate bitcoin price but not the bitcoin You have a great point. Controlling bitcoin mining might not mean that china is now controlling bitcoin it self but in the real place it can already be considered that they will try to control it |
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danherbias07
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August 11, 2016, 03:04:41 PM |
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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?
If mining is controlled by china.it doesn't mean it is controlling bitcoin also.They can manipulate bitcoin price but not the bitcoin You have a great point. Controlling bitcoin mining might not mean that china is now controlling bitcoin it self but in the real place it can already be considered that they will try to control it One of their character is superiority. I see this all the time inside the building I work. In elevators or just even the hallway. They even got bodyguards with them to let people see that they are higher. They want everyrhing under them and they will try it also with bitcoin but I doubt they will accomplish doing it. There are tok many countries that are with bitcoin. If they got the higher percentage of users or miners thay wont say they will have it. They can make great impacts but not to the extent of owning it. |
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bitsoldiers
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August 11, 2016, 03:05:21 PM |
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i dont think this really matters, because everyone is involve in this and it has really gone wide...!!!
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darklus123
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August 11, 2016, 03:07:43 PM |
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Sad to say but also bitcoin was being control by china? I just thought that they were just up to to islands lol. But we cant blame them other country does not accept bitcoin yet so i think they should have to
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MingLee
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August 11, 2016, 03:09:47 PM |
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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?
If mining is controlled by china.it doesn't mean it is controlling bitcoin also.They can manipulate bitcoin price but not the bitcoin You have a great point. Controlling bitcoin mining might not mean that china is now controlling bitcoin it self but in the real place it can already be considered that they will try to control it One of their character is superiority. I see this all the time inside the building I work. In elevators or just even the hallway. They even got bodyguards with them to let people see that they are higher. They want everyrhing under them and they will try it also with bitcoin but I doubt they will accomplish doing it. There are tok many countries that are with bitcoin. If they got the higher percentage of users or miners thay wont say they will have it. They can make great impacts but not to the extent of owning it. Once the rest of the world starts to get more involved with Bitcoin mining we're more than likely going to see some groups of people in poorer countries take advantage of the cheap electricity to set up their own mining operations, and they will take away a considerable part of the market share from the Chinese miners if they don't have any sort of plan to invest more. |
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Supercrypt
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August 11, 2016, 08:04:45 PM |
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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?
If mining is controlled by china.it doesn't mean it is controlling bitcoin also.They can manipulate bitcoin price but not the bitcoin After the halving, the newly mined bitcoin will be reduced. So the Chinese will have few coins to sell in the future. The halving doesn't really matter to the Chinese even if they have reduced coins to sell, since all miners will be experiencing the same anyways. It is a fact that the majority of mining power is owned by Chinese companies and they are enough to actually influence the value of bitcoin although only by a certain amount. |
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smho_16
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August 11, 2016, 08:11:56 PM |
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China has more than 50% of all miners located there so they can influence a bit the price because of that but they can't go any further. Bitcoin is a decentralized currency and no one can control it. Even the chances of a 51% attack to the network are out of calculations at least for now but that is also very unlikely to happen. In other words China is not controlling bitcoin and cannot control it.
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psomas2
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August 11, 2016, 08:23:23 PM |
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Short answer is yes, Chinese mining firms control everything BTC does but they are in competition with each other over what it does and we all just ride the waves.
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Rule #1 Never get emotional when trading.
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oblivi
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August 11, 2016, 10:37:45 PM |
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It's not controlling it since China requires global agreements with merchants and nodes and developers. It means nothing that china is big in mining, bitcoin is still decentralized.
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ttargett
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August 11, 2016, 10:58:17 PM |
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china is not controlling bitcoin, bitcoin is controlled by the whole world people
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BitMaxz
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Block halving is coming.
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August 11, 2016, 11:51:48 PM |
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china is not controlling bitcoin, bitcoin is controlled by the whole world people
I think there is contribution by china because they have a large of mining farm.. but if we are talking for the price they can control a bit in bitcoin price because they are holding a lots of bitcoins from their business bitcoin farm.. So they can control only for the price decreasing not for the price increasing.. |
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psomas2
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August 12, 2016, 04:19:40 AM |
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china is not controlling bitcoin, bitcoin is controlled by the whole world people
I think there is contribution by china because they have a large of mining farm.. but if we are talking for the price they can control a bit in bitcoin price because they are holding a lots of bitcoins from their business bitcoin farm.. So they can control only for the price decreasing not for the price increasing.. Well said |
Rule #1 Never get emotional when trading.
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emmarose
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August 12, 2016, 04:38:01 AM |
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How can China control btc? USA is no.1 country, I think USA can control btc, because they have more fund than China.
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nor9850
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August 12, 2016, 04:47:31 AM |
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How can China control btc? USA is no.1 country, I think USA can control btc, because they have more fund than China.
China has: A) 10 times as many people B) 10 times as many mining farms C) Mining farms that are 10 times bigger That's how, its not the chinese Govt Vs The American Govt is just a numbers game , the more people you have working together the more control you have over Bitcoin |
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Yakamoto
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August 12, 2016, 05:01:11 AM |
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How can China control btc? USA is no.1 country, I think USA can control btc, because they have more fund than China.
China has: A) 10 times as many people B) 10 times as many mining farms C) Mining farms that are 10 times bigger That's how, its not the chinese Govt Vs The American Govt is just a numbers game , the more people you have working together the more control you have over Bitcoin There's also the investment numbers game; if there were people in the US or other western countries that wanted to out in as much money the US and/or whoever would control Bitcoin, and that's basically the same as China controlling it. The numbers in China just mean a smaller investment per capita. |
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Leonard2016
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August 12, 2016, 05:03:01 AM |
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they can not be controlling bitcoin just by having big mining farms, there are bigger mining farms in other places of the world and having the largest population is also not a good argument about them and controlling bitcoin
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nor9850
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August 12, 2016, 05:05:49 AM |
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How can China control btc? USA is no.1 country, I think USA can control btc, because they have more fund than China.
China has: A) 10 times as many people B) 10 times as many mining farms C) Mining farms that are 10 times bigger That's how, its not the chinese Govt Vs The American Govt is just a numbers game , the more people you have working together the more control you have over Bitcoin There's also the investment numbers game; if there were people in the US or other western countries that wanted to out in as much money the US and/or whoever would control Bitcoin, and that's basically the same as China controlling it. The numbers in China just mean a smaller investment per capita. Right, you mean like a million 1$ investments vs 1 million dollar investment. The US has the cash, but so does china and they have more people |
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