Is CHINA CONTROLLING Bitcoin?

[xdrpx]

To a major percentage, yes, China is controlling the price of Bitcoin and it's speculative market by active trading. Usually large whales dump a lot by selling and then the price falls by a large percentage. I believe even China has the largest Bitcoin mining power and control as compared to other miners.

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[crairezx20]

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..

I think you are wrong. miners are always mining new coins and i think they are already earn with new bitcoins.
Unlike other people who are just holding bitcoins they are holding old bitcoins but they are already made a profit because the price before halving is high.. and before the price will crash they sell their bitcoins and made a profit. .

[delliaerd]

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.

China don't really controlling bitcoin at all. But i think in china have a high traffic of using bitcoin and it is have a big influential for fluctuations bitcoin price.

[Barbut]

Very close voting, I can't imagine why someone think that China controlling bitcoin network. I don't think that China have biggest mining power, especially when I see there is many people in US, Brazil, and Europe who mining. Market like market, US is have strongest one, and China is not better then them.
I don't think China is control bitcoin, with so many coins that Chinese have they can move market and price a bit, but its far from control. They are just one bigger part in all this, but majority is outside for sure.

[trickshot22]

china is definitely not controlling bitcoins, they make a lot of it but it does not mean that they control the price, i think that all people have impact

[red4slash]

china indeed proclaim many bitcoin mining has no place there . it is not impossible that China is able to control the bitcoin.. 

[CoinsRoyal]

china indeed proclaim many bitcoin mining has no place there . it is not impossible that China is able to control the bitcoin.. 

It is logic that they control bitcoin. The got the largest pools, got a monopoly on mining gear and cheap electricity. There is no nation in the world who can compete with china in this aspect.
Western countries got too expensive electricity.

[chixka000]

Is it really a big deal if some place like china are mining almost the half of the total blocks of bitcoin? If so then why? because i think as long as the transactions are available in other places it is just fine

[lionheart78]

china indeed proclaim many bitcoin mining has no place there . it is not impossible that China is able to control the bitcoin.. 

It is logic that they control bitcoin. The got the largest pools, got a monopoly on mining gear and cheap electricity. There is no nation in the world who can compete with china in this aspect.
Western countries got too expensive electricity.

I don't  think having the largest mining farm of bitcoin means you can control bitcoin.  Remember bitcoin isn't for mining alone, and besides even if the largest mining farm is in china, I doubt that only  the Chinese are the owner of those mining farm.  It is established there because  of cheap electricity, there will be other foreign owner of the mining farm there for sure.

[ToucheCoin]

I will go with NO.

First of All,

Bitcoin is offering a decentralisation system for which there is no reason for anyone could have the control over it. Though its a fact all the other big mining institutions are in China but, it's also a fact that there are thousands of thousands CPU are occupied by which BTC also mining from all over the world and helping blockchain technology to work smoothly.

So, it is not good to say that China is along controlling it while Bitcoins should purpose was to create a decentralised market where no one could have any control over anyone by financial means. 

Thank you

[Sharma]

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..

This is true that who ever control mining is also indirectly controlling bitcoin but it is limited to few things only and this will not affect a common bitcoin user.Why should we be even worry about that?

[mayax]

China is controlling over 70% from mining. What are you talking about Brasil or other countries?  LOL

https://bitcoinchain.com/pools

Who is controlling Bitcoin? The big exchangers who are manipulating the price with fake volumes, they are acting a gang and the miners.

[bravehearth0319]

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?

Whenever china can't control bitcoin. That's why bitcoin called decentralized, which means bitcoin can only control by the coin holder depending how much they hold or keeping it.

[Pierre 2]

You cant basically say they have total control.
Noone has that kind of power.
But as if usa control most of the world, chinese people have strong control over btc.

[bravehearth0319]

china indeed proclaim many bitcoin mining has no place there . it is not impossible that China is able to control the bitcoin.. 

It is logic that they control bitcoin. The got the largest pools, got a monopoly on mining gear and cheap electricity. There is no nation in the world who can compete with china in this aspect.
Western countries got too expensive electricity.

I don't  think having the largest mining farm of bitcoin means you can control bitcoin.  Remember bitcoin isn't for mining alone, and besides even if the largest mining farm is in china, I doubt that only  the Chinese are the owner of those mining farm.  It is established there because  of cheap electricity, there will be other foreign owner of the mining farm there for sure.

I agreed with you, I also do believe that China can't control bitcoin. Even though they have a largest farm all over the world. China can only be one of the biggest investors who adopted the system of bitcoin. meaning they're just one of the member in the community investors.

[Red-Apple]

You cant basically say they have total control.
Noone has that kind of power.
But as if usa control most of the world, chinese people have strong control over btc.

everybody seems to be forgetting that USA used to have the highest amount of hasrate share in the whole world and this was not from so long ago!

you can search about this too, not long ago GHASH.IO even had more than 51% of the shares and everybody was worried about the 51% attack and nothing happened in the end but nobody was even mentioning USA controlling bitcoin!

[chixka000]

You cant basically say they have total control.
Noone has that kind of power.
But as if usa control most of the world, chinese people have strong control over btc.

everybody seems to be forgetting that USA used to have the highest amount of hasrate share in the whole world and this was not from so long ago!

you can search about this too, not long ago GHASH.IO even had more than 51% of the shares and everybody was worried about the 51% attack and nothing happened in the end but nobody was even mentioning USA controlling bitcoin!

True not because there were more than numbers of miner in china they already are controlling the bitcoin system. US has also a big part of this system  they have better facilities. In terms of transactions UK would i guess the best place to do so.

[mayax]

You cant basically say they have total control.
Noone has that kind of power.
But as if usa control most of the world, chinese people have strong control over btc.

everybody seems to be forgetting that USA used to have the highest amount of hasrate share in the whole world and this was not from so long ago!

you can search about this too, not long ago GHASH.IO even had more than 51% of the shares and everybody was worried about the 51% attack and nothing happened in the end but nobody was even mentioning USA controlling bitcoin!

please take a look again and let me know where you see 51% USA while China owns over 70%

https://bitcoinchain.com/pools

[BitcoinsGreat]

You cant basically say they have total control.
Noone has that kind of power.
But as if usa control most of the world, chinese people have strong control over btc.

One thing is for sure that Chinese have most bitcoins miners than anywhere else in the world

[znickelbackz]

Wow, a lot of people have voted and the result is almost equal. Really confusing.
I don't want bitcoin to be controlled by anyone, especially China.