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fravia
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September 05, 2016, 01:57:45 PM |
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they just have a large percentage of mining Bitcoin, that doesnt mean theyre centralizing bitcoin.
But if they work together, they can attack bitcoin.
you are right, chinese people mine the most of the bitcoins but that does not mean that they have the biggest control as they just sell the bitcoins |
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springgers
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September 05, 2016, 03:24:56 PM |
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I don't think so, There people and there miners are very prominent features in bitcoin now but it's not like a government or anything, China is a good % of the world population and therefore find it very reasonable for it to have a big impact on bitcoin price and mining power.
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bluechipinvestor
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September 07, 2016, 07:50:05 PM |
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Actually China has the highest number of users and miners as well. Perceptible price fluctuation occurs and that happens in accordance to the active involving of users. For this reason we can see that most users misunderstand that bitcoin is controlled by China.
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RodeoX
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The revolution will be monetized!
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September 07, 2016, 08:15:47 PM |
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Actually China has the highest number of users and miners as well. Perceptible price fluctuation occurs and that happens in accordance to the active involving of users. For this reason we can see that most users misunderstand that bitcoin is controlled by China.
A better way to say this is that Chinese people control the most bitcoins, but have no additional authority over bitcoin. Think of it like gold. The united states controls more gold than any other country, but they can't control the gold someone in another country owns. |
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ironm@n
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September 09, 2016, 03:09:48 PM |
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No doubt that Chinese have a big market than most of us here, but still they cannot control bitcoins as there are many whales from other countries who can still stabilize the situations that might occur due to the Chineses.
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funkenstein
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Khazad ai-menu!
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September 09, 2016, 03:55:34 PM |
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Nah, it's probably Santa Claus, Uncle Sam, and the Tooth Fairy who control it.
Oh wait, you think real people are the ones who actually have agency to act on this earth? Not disembodied words with vague geographical significance?
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danfoda
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September 09, 2016, 03:56:37 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?
i dont think china can control or rule bitcoin and no one can control bitcoin except for satoshi if yes china will ruin bitcoin and also im gonna tell you something guys bitcoin price will reach 700$ this week how can satoshi control it? |
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twicezeroiszero
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September 09, 2016, 04:00:24 PM |
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Whoever has the most money for disposal controls Bitcoin and if its China at present you better start learning to use chopsticks.
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soros017
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September 10, 2016, 04:50:31 PM |
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I think no one has control over bitcoin . Although China has the largest number of users for bitcoin does not mean China is controlling bitcoin. I believe there are some big players in other countries too , and maybe they are bigger than China.
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Carmen_Sandiego
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September 11, 2016, 05:35:53 AM |
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I would ask, even if Chinese companies did control Bitcoin, what is the point? They can not derive unnatural profits, any attempt to do so would only devalue bitcoin and the possibility of making profits..
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Tecmand
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September 12, 2016, 05:42:35 PM |
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I would ask, even if Chinese companies did control Bitcoin, what is the point? They can not derive unnatural profits, any attempt to do so would only devalue bitcoin and the possibility of making profits..
They might be bribed to destroy the bitcoin if the incentive is good enough. It is my main concern of the concentration of mining in China. |
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Ruhtilg
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September 14, 2016, 04:38:06 PM |
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I would ask, even if Chinese companies did control Bitcoin, what is the point? They can not derive unnatural profits, any attempt to do so would only devalue bitcoin and the possibility of making profits..
They might be bribed to destroy the bitcoin if the incentive is good enough. It is my main concern of the concentration of mining in China. I heard that the Bitmain is developing a second pool at the moment. That will attract more mining operations there. |
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marleybobthedog
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September 14, 2016, 04:47:26 PM |
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In direct sense China is not controlling bitcoin but if we take whole bitcoin economy then obviously China is controlling bitcoin because they have maximum market potential and they have maximum bitcoin user so obviously they have 50% control over the coin.
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Sweetbtc
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September 14, 2016, 05:22:04 PM |
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Yea China is playing massive role in bitcoin world although it really doesn't mean that they are controlling bitcoin. As it is said that bitcoin had no centralised party to act upon. But china is playing huge role as a whole we can say they are controlling bitcoin indirectly uppity some extent.
I partially agree with you, because they end up indirectly controlling the fluctuation of the price of bitcoin. China has huge players, huge miners and big whales. |
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subhiii
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September 14, 2016, 06:13:09 PM |
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No, China do not control bitcoin, and if you are telling that because of their support to it then I will say there are other country also who are supporting more than China, like USA, I think about more than 50% people have adopted bitcoin till now.
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saiha
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September 15, 2016, 01:09:26 AM |
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No, China do not control bitcoin, and if you are telling that because of their support to it then I will say there are other country also who are supporting more than China, like USA, I think about more than 50% people have adopted bitcoin till now.
I agree that China isn't really controlling bitcoins, because of the most miners are Chinese it doesn't mean that they are the one who controls bitcoins. The whales are the one who controls bitcoin because they are the ones who are holding millions of bitcoin in their wallet and for sure every single move they are going to do will affect the market. Not just affect, but big affection is going to make the market that is why I can say they are the one who controls bitcoins. |
Vires in Numeris
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Indrawan77
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September 15, 2016, 04:28:24 AM |
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I dont think china is controlling bitcoin but the majority of the bitcoin user is from china and most of them earning from mining, but the bitcoin controller is all of us, because bitcoin is decentralized, unless there are a person or institutions bought most of bitcoin, then maybe they can control bitcoin
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digaran2
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September 15, 2016, 04:38:15 AM |
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the concept that bitcoin is borderless seems to be beyond most in this threads comprehension Sad
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goinmerry
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September 15, 2016, 04:53:44 AM |
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Sounds funny right? They banned bitcoin in some industries in their country but they have the largest number of bitcoin in stock.
They can control it if they want too. Just some exchange back and forth and bitcoin will move like a non stop wave.
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sonnyacg
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September 16, 2016, 05:11:35 AM |
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I think it can happen, for example in the case of mining bitcoin. there are a lot of factors. what is important is that the geographical location. China is known to have a large area and some highlands have cold weather. cool location suitable for great savings on engine cooling fan server computer from overheating hazard. so the price can compete. plus workers, employees or workers who are responsible for the famous Chinese. Miners are so many people around the world buy services from China .... but I do not know where China can produce low cost electricity. consider the server computer 24 hours. Itself requires energy coal, oil, or water, renewable wind energy is great. where china get cheap energy as a power Hashing it?
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