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psomas2
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September 16, 2016, 05:13:43 AM |
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The short answer here is yes, just its not China the nation its Chinese mining farms, when you sya China you kind of imply the Chinese government.
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Rule #1 Never get emotional when trading.
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The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
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BossMacko
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September 16, 2016, 05:17:45 AM |
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I can say no. China are the number 1 top Bitcoin miner in the world because of the low electricity fee. They have the Facilities and gadgets but they are not controlling Bitcoin. We are all are capable of controlling Bitcoin. Only the whales can control the market of Bitcoin because they can buy and dump many amount of Bitcoin any time they want.
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psomas2
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September 16, 2016, 05:21:15 AM |
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If the majority of the Bitcoin hashing power is physically located in China, then the Government of China has sovereign control over Bitcoin.
not exactly true, the very reason the Chinese love BTC so much is because they can hide it from their Government |
Rule #1 Never get emotional when trading.
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puremage111
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September 16, 2016, 05:26:15 AM |
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They are not controlling but majority of them have interest of them. China, people there always blindly follow trends, just like previously majority started to bought shares and pump the price and create the Bubble and at last, the whales dump and theres it.
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Altitude
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September 16, 2016, 05:33:08 AM |
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China is communist, therefor if China has companies controlling BTC then the Chinese Gov is controlling BTC!
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Altitude,
Simplicity in everything
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pinkpanther03
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September 16, 2016, 08:19:14 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?
That's not possible, China cannot control bitcoin. From the very start since bitcoin held 2009 nobody neither each government of the country cannot control bitcoin all they can do is they can adopt the system of bitcoin for them to experience the good benefits of bitcoins. China can't rule bitcoin that won't gonna be happen ever! |
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freshman777
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September 16, 2016, 08:23:23 AM |
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That's not possible, China cannot control bitcoin. From the very start since bitcoin held 2009 nobody neither each government of the country cannot control bitcoin all they can do is they can adopt the system of bitcoin for them to experience the good benefits of bitcoins. China can't rule bitcoin that won't gonna be happen ever!
These noobs are so funny in their naïveté. |
ARDOR - Blockchain as a Service. Three birds with one stone. /// Do not hold NXT at exchanges, NXT wallets: core+lite, mobile Android
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LegendaryMiner
Sr. Member
 Offline
Activity: 407
Merit: 250
DAG, Built-in Chat and Conditional Payments
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September 17, 2016, 09:09:04 AM
Last edit: December 28, 2016, 03:19:44 PM by LegendaryMiner |
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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 believe they have a large number of users and large mining farms, of course. However, not to the point of having full control over it. The network continues to be distributed across the globe, thus decentralized. And to say the truth, I think that the fact the currency is expanding in a country like China has many good points to bring to the ecosystem, because in that way the network receives much more support, especially from the users, since the country is very populous. |
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rizkyhiw
Legendary
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Activity: 1484
Merit: 1004
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September 17, 2016, 09:35:45 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.
yeah the fact that china are the largest bitcoin holder but the government looks not happy with bitcoin activity and ban them the fact that china's mining dominance can have a big impact to the bitcoin development and it looks they are in control of bitcoin but actually they are not |
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Roboabhishek
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September 17, 2016, 10:43:54 AM |
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What's making you think that china is controlling bitcoins ?
I don't think that china or any other country can control bitcoin.
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hollandvan
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September 17, 2016, 11:07:11 AM |
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China is communist, therefor if China has companies controlling BTC then the Chinese Gov is controlling BTC!
Really? Chinese gov has banned bitcoin for many time, how can they control BTC? They are afraid btccoin mass adoption. |
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vero
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September 17, 2016, 11:09:40 AM |
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What's making you think that china is controlling bitcoins ?
I don't think that china or any other country can control bitcoin.
Honestly i don't believe China controls bitcoin, this argument leads to the last few years in which the price hikes always begin from china exchange. |
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Rostadom
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September 17, 2016, 01:13:10 PM |
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Is it even relevant? If the Chinese people are controlling Bitcoin, then let them. What would you do once you confirm that they are controlling Bitcoins? Stop them? You think you're enough? You think you and me is enough? No.
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Sidas_Crew669
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September 17, 2016, 01:18:06 PM |
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Is it even relevant? If the Chinese people are controlling Bitcoin, then let them. What would you do once you confirm that they are controlling Bitcoins? Stop them? You think you're enough? You think you and me is enough? No.
Control of the Bitcoin is something quite impossible to do. for if bitcoin already in control by certain persons then there will be a significant change and it will have an impact on the loyal members who leave bitcoin bitcoin because a policy that does not fit with their mission and vision |
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jam1nut0
Member
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Activity: 113
Merit: 10
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September 17, 2016, 01:25:37 PM |
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not directly, but they control bitcoin because they use a lot of them
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turn2flush
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September 17, 2016, 01:26:47 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?
ofcourse they controlled bitcoin and its value. They keep bitcoin on low price. Why? Ask yourself. Cpu and electrical cost in China and in the western world? Is different? Ofcourse is it. And becouse of bitcoin low price all western miner turn off their cpu.. And now China have chance to control all new bitcoin.. Think about that.. |
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Noctis Connor
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September 17, 2016, 01:28:40 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?
The poll has tie voting keep voting guys ' i think no bitcoin is not controlled and ruled by China it hink USA has a full control to bitcoin as centralized by the USA mining institution and there are more miner there, there are many users of bitcoin too and it easy crowded by people who is mining and they have also mining company. |
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newIndia
Legendary
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Activity: 2198
Merit: 1049
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September 17, 2016, 01:30:31 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?
China has cheap labor and abundant resource. Hence, they are not only controlling bitcoin mining, but also ruling world's manufacturing sector. The later is right now much more worrisome than them controlling bitcoin mining. |
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turn2flush
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September 17, 2016, 01:31:10 PM |
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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
Since last halving nobody earning from new bitcoin. New bitcoin still waiting for better time.. |
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turn2flush
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September 17, 2016, 01:37:44 PM |
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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
other bigger farms elsewhere in the world turn off their mining rigs.. Looking at the btc price, this is a logical step.. And ofcourse China miners know that.. China have a smart guys. I hope you comprehend what i want to say to all you.. |
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