Is CHINA CONTROLLING Bitcoin?

[PokerFace3]

China = Illuminati !  

You can't say China is Illuminati because Illuminati is a worldwide secret group and comprises people from the different countries of the world who are there to achieve a set goal in the society for which I am not sure of. But, with respect to bitcoin ecosystem, China will not be able to do anything secretly. Maybe planning for 51% network work also will be highly impossible when considering bitcoin network's current hash power.

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[jonpande]

I think China is not strong enough to control bitcoin.Bitcoin now become a global currency, does not belong to one country. Therefore I do not think that China or other countries can control the bitcoin.

[knightkon]

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 think that china has a monopoly on the mining of Bitcoin at this time, so I think in the future they will increase the cost of getting confirmations, but other than that they do not have much control.  In the event that they try to increase the price of the transfer fees, then smaller miners will pick up the slack and confirm those transactions, so I have to say; all said, China is not in control of bitcoin!

[Conus]

I am sorry, but I do think that china is currently controlling bitcoin.  They control all of the mining right now, at least a large part of it and because of that they can just close down crashing the system.  What would happen is they did crash??

[danherbias07]

I am sorry, but I do think that china is currently controlling bitcoin.  They control all of the mining right now, at least a large part of it and because of that they can just close down crashing the system.  What would happen is they did crash??

I do think so too. They want control of every currency right now and I think they are including bitcoin in those. Even with gold, they are trying to hoard a lot of it until the very last drop for other countries to lack in gold reserves. That way they could come up and be a strong country.

[shinratensei_]

I think China is not strong enough to control bitcoin.Bitcoin now become a global currency, does not belong to one country. Therefore I do not think that China or other countries can control the bitcoin.

With all of the miners in their country are already enough for be able making a lot of impact for bitcoin and especially for the price and the Chinese exchange site are very strongly for affecting the foreign market with their power and as you can see at the past time for the pumping of bitcoin price is always starting from the Chinese exchange.

[Daffadile]

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 that were true bitcoin would have failed. The whole idea and reason for it being is so noone can control it. Having said that If you had asked "do you think china controls most of the mining and hashes" I would say yes they do. That doesn't mean they control bitcoin though. Far from it. Even though they the main mining power of bitcoin it doesn't matter since people can just buy those bitcoin from them. Chine is a sweat shop working country so it makes sense that they will go crazy with bitcoin farms. I mean the farm people. Rooms full of people doing things online for them. It's just a machine this time. For the rest of us that is fine since they can handle that work and we can just buy those mined bitcoins.

Remember there are also altcoins you can stake to swap for bitcoin at anytime as well. Mining is not the only way bitcoin can be generated.

[hawkins]

I suppose it could happen, as far as I know, that china is one of the world's largest bitcoin holders. Well, in China very much to have people who are unemployed, so look for bitcoin be one way for them to make money. china society may be able to manipulate the price of bitcoin easily, because I'm sure there are a lot of bitcoin, even every person who seeks it definitely has two or more BTC in pocket

[Legendaris]

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.

[I Am Hero]

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.

why not?

we can see what is happening around us and with bitcoin it is obvious where the volume are and how spread bitcoin is (not the hash power but bitcoin itself)

[clickerz]

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.

Yes, its very possible scenario. Though bitcoin is illegal in China, but still bitcoin mining is thriving there. I have seen some mining farms and some are doing it free from electricity.Since we do not know how much the actual bitcoin the Chinese hold,we can only speculate. But I do believe that it is significant, that can affect bitcoin price in any way.

[noictib]

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?

actually it is not true , but it is the big country which is using bitcoin more than the other countries .
Bitcoin earning in china is easy , so Making money in china is so easy by mining because here electricity is at very cheap rate available so every new comers makes money easily through mining due to these reasons this country is going in top of the bitcoin use .

[Tecmand]

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?

actually it is not true , but it is the big country which is using bitcoin more than the other countries .
Bitcoin earning in china is easy , so Making money in china is so easy by mining because here electricity is at very cheap rate available so every new comers makes money easily through mining due to these reasons this country is going in top of the bitcoin use .

There are lots of mining activities there. But I think there are not much actual uage, just the trading.

[MWesterweele]

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?

No i think its japan. Japan is more technological than china. Japanese person are more talented than other person. Thats why japan is realigning in the first world country which is act like first world. I can imagine that someday our country will be like japan because japan is our best friend.

[anonbit992]

Mining is cheap in China and when we look at the mining pool of bitcoin we can see all the top mining pools like Antpool, F2pool , etc are Chinese. BITMAIN, the famous and most efficient bitcoin miner producing company is based in China. So, I think China has a good stake in bitcoin but I don't think it would be correct to say that they control bitcoin. I think it's safe to say that they support bitcoin more than any other county in the world.

[Pursuer]

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?

No i think its japan. Japan is more technological than china. Japanese person are more talented than other person. Thats why japan is realigning in the first world country which is act like first world. I can imagine that someday our country will be like japan because japan is our best friend.

OP is talking about Chinese controlling bitcoin because they own a big portion of the hashrate (combined from their different mining farms) which is false assumption by the way. but what does this have anything to do with Japan and them controlling anything!
bitcoin is still decentralized and it can not be controlled yet.

and Japan is only one of those countries that have always been interested in technology and they have always been more advanced compared to other countries. and in bitcoin they also have announced it as a real official currency which shows that  but there is no controlling!!!

[Natalim]

China is not controlling bitcoin but they have the biggest miners. I really cannot tell who controls the majority of supplies or the whales because we are living in the anonymous world.

[Blitzboy]

Mining is cheap in China and when we look at the mining pool of bitcoin we can see all the top mining pools like Antpool, F2pool , etc are Chinese. BITMAIN, the famous and most efficient bitcoin miner producing company is based in China. So, I think China has a good stake in bitcoin but I don't think it would be correct to say that they control bitcoin. I think it's safe to say that they support bitcoin more than any other county in the world.

Yeah I think that no one own bitcoin and certainly no one can have a full control on bitcoin so it's not so correct to say that China is controlling bitcoin. But the fact that China is the leading country in mining bitcoin so everything they do will influence bitcoin so that makes us think that they control bitcoin but it's not. They're just too powerful that they can impact bitcoin.

[serjent05]

China is not controlling bitcoin but they have the biggest miners. I really cannot tell who controls the majority of supplies or the whales because we are living in the anonymous world.

I wonder how huge is that miner from china.  It should be listed in the GWB.   .  Anyway I agree that China is not controlling and cannot control bitcoin even though they are the one with the largest mining farm.  Though they have the largest mining farm, this farm is owned by different capitalist and probably most of them are not chinese but foreign investors.  They choose China because of the low upkeeps.

[OrangeII]

I believe that dichina is one of the largest countries that use bitcoin, maybe they could turn into a bitcoin prices up or down, but I do not think that they control the bitcoin, because it is not just China that use a lot of bitcoin