Is CHINA CONTROLLING Bitcoin?

[BitHodler]

As long their price keeps cheap, and they do offer security to the investors, China will alwyas have control over bitcoin mining process. Besides those bitcoin has several big whales that can play anytime affecting bitcoin value, as well early adopters.

One thing is certain is that China has own good mining business for bitcoin but for the big whales we cannot determine which country they are representing because it's anonymous by nature, whatever the price is, it will still good for us as adoption continues.

I am quite sure that a lot of the whale traders doing their thing at Chinese exchanges aren't Chinese at all.

It's purely the fact that they are there just because they enjoy trading without any fees. It allows them to make profit even when there isn't any volatility.

If Bitstamp for example offers trading without fees being involved, then eventually it will come a huge volume generating exchange as well.

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[ranochigo]

India is coming up fast ... and Russia too.

it is still china the number 1 bitcoin adopter , number 1 bitcoin miner ,
people knew about that and aware that anytime they can control more than 50% bitcoin supply ,
this is sounds like horrible but it is true ,
i don't think india or russia can compete with china in adopting bitcoin.

Why horrible? We must be happy...

People in others countries are losing their times don't accepting the coin yet.

China is doing their job, nothing wrong here.

They were getting 51% hash power, it meant a bad thing for all. It can affect the bitcoin. But, you need read more about this. And the another horrible thing if China will going to launch his national crypto coin and this will become an opponent for bitcoin. The competition of crypto will be so strict soon. I'm not feeling happy with this news.

There isn't any evidence of the China government owning any of the mining pool or any percentage of the hashpower. Some of the mining pool are not based in China and they do not have to comply with the government. Even if they are, if they were requested to launch an attack, they would see their profits being harmed and would thus decline it.

Where did you get the news from? I don't see any competition of alt coins. Most altcoins have little support, even if it is backed by the government.

[sempak]

As long their price keeps cheap, and they do offer security to the investors, China will alwyas have control over bitcoin mining process. Besides those bitcoin has several big whales that can play anytime affecting bitcoin value, as well early adopters.

That's what distinguishes china with other countries. china provides a super facility complete with a very cheap price. very difficult to had at other countries. it is a factor that bitcoin can control easily by countries china.

[iram3130]

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

[bamboylee]

China has well over half the trading volume. And most of the mining. They could certainly make some bumps in the road but they wont do anything that will negatively impact the price.They own too much.

But they  can work together so they can control the price of bitcoin. That is a bad thing for small traders. And if they have the 51% control, then it will not be that decentralized  anymore, I think.

[MONKEYJUNK]

China has well over half the trading volume. And most of the mining. They could certainly make some bumps in the road but they wont do anything that will negatively impact the price.They own too much.

But they  can work together so they can control the price of bitcoin. That is a bad thing for small traders. And if they have the 51% control, then it will not be that decentralized  anymore, I think.

It's impossible to they work all togheter... Maybe they can have small groups however to enjoy in one you don't need necessary be on China.

In my opnion is more about the miners that hold a lot of amounts and wales.

[Labumi]

China has well over half the trading volume. And most of the mining. They could certainly make some bumps in the road but they wont do anything that will negatively impact the price.They own too much.

But they  can work together so they can control the price of bitcoin. That is a bad thing for small traders. And if they have the 51% control, then it will not be that decentralized  anymore, I think.

It's impossible to they work all togheter... Maybe they can have small groups however to enjoy in one you don't need necessary be on China.

In my opnion is more about the miners that hold a lot of amounts and wales.

Yeah, all of this is not true if china is a country which has an important role in the growth of the bitcoin or china is controlling all systems bitcoin. most have a very important role is the miners and traders, they give reciprocity to bitcoin until finally they get a very good advantage. Indeed for the country now has the highest number of miners or reputation is china, but it does have a huge influence.

[ged00u]

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

Well I think that China or India really has a significant impact on the development of bitcoin as each country has advantages in the number of people using bitcoin as well as mining it, but one thing for sure that they are not controlling it. They do make bitcoin change its trend but they can't shut it down whenever they want.

[mrkevio]

China controls the highest percentage of Bitcoin mining, but it doesn't control Bitcoin itself too. I think Bitcoin is a project that has been thought very well and then launched and forgotten about by the creator - I don't think the owner would ever want institutions like the FBI and the CIA to find out who he is.

[tabas]

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

Well I think that China or India really has a significant impact on the development of bitcoin as each country has advantages in the number of people using bitcoin as well as mining it, but one thing for sure that they are not controlling it. They do make bitcoin change its trend but they can't shut it down whenever they want.

They surely does has big impact for development of bitcoin and it is making them more dominant country in the bitcoin industry. China is one of the countries that are having the most miners and farms. It cannot be removed that they are one of the countries who has the biggest contribution in the fluctuation of bitcoins price and we can say that they are also controlling bitcoin.

[carlerha]

China has a distinct advantage in mining but I don't think its ruling or controlling Bitcoins but it surely trying to do that.
India is catching up lately so wait and watch.

Well I think that China or India really has a significant impact on the development of bitcoin as each country has advantages in the number of people using bitcoin as well as mining it, but one thing for sure that they are not controlling it. They do make bitcoin change its trend but they can't shut it down whenever they want.

They surely does has big impact for development of bitcoin and it is making them more dominant country in the bitcoin industry. China is one of the countries that are having the most miners and farms. It cannot be removed that they are one of the countries who has the biggest contribution in the fluctuation of bitcoins price and we can say that they are also controlling bitcoin.

it may be fact but i think that bitcoin is anonymous and now one know about the actual number of bitcoin user and even do not know about the users nationality, so how can we say that most of of the bitcoin users are from China.

[deisik]

There isn't any evidence of the China government owning any of the mining pool or any percentage of the hashpower. Some of the mining pool are not based in China and they do not have to comply with the government. Even if they are, if they were requested to launch an attack, they would see their profits being harmed and would thus decline it

Have you ever been to China?

When I worked as an interpreter with big Chinese companies (thousands of workers, just in case), the groups that we were negotiating with always had some guy sticking around them, who didn't participate in discussions and business negotiations, but nevertheless was always present at these meetings. When we asked in private who was that guy and what he was doing there, we were told that he is "representing the government". Between ourselves we concluded that he was actually an agent of some government security service supervising the company deals and contacts. I guess you strongly underestimate the level of government participation in businesses across China

[rasyid_muhammad]

if the master I do not think, but who has the biggest mining heck yes

[Selly Arumsari]

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 yes , my opinion average of user bitcoin is chinese so their controller

[Ayers]

There isn't any evidence of the China government owning any of the mining pool or any percentage of the hashpower. Some of the mining pool are not based in China and they do not have to comply with the government. Even if they are, if they were requested to launch an attack, they would see their profits being harmed and would thus decline it

Have you ever been to China?

When I worked as an interpreter with big Chinese companies (thousands of workers, just in case), the groups that we were negotiating with always had some guy sticking around them, who didn't participate in discussions and business negotiations, but nevertheless was always present at these meetings. When we asked in private who was that guy and what he was doing there, we were told that he is "representing the government". Between ourselves we concluded that he was actually an agent of some government security service supervising the company deals and contacts. I guess you strongly underestimate the level of government participation in businesses across China

do you have proof of that?

China controls the highest percentage of Bitcoin mining, but it doesn't control Bitcoin itself too. I think Bitcoin is a project that has been thought very well and then launched and forgotten about by the creator - I don't think the owner would ever want institutions like the FBI and the CIA to find out who he is.

if you control the mining sector and the merchants sector you are effectively contorlling bitcoin, so if china in the future will create more merchants that accept bitcoin, it would be a chian currency at 100%, very dangerous

[rajasumi3]

Yes u can say that china is kinda controlling bitcoins. They are inversting billions of dollars in bitcoins. Well that means something that bitcoins have a bright future ahead .well u gotta be patient and earn and earn bitcoins as much as u can .kudoos 

[deisik]

There isn't any evidence of the China government owning any of the mining pool or any percentage of the hashpower. Some of the mining pool are not based in China and they do not have to comply with the government. Even if they are, if they were requested to launch an attack, they would see their profits being harmed and would thus decline it

Have you ever been to China?

When I worked as an interpreter with big Chinese companies (thousands of workers, just in case), the groups that we were negotiating with always had some guy sticking around them, who didn't participate in discussions and business negotiations, but nevertheless was always present at these meetings. When we asked in private who was that guy and what he was doing there, we were told that he is "representing the government". Between ourselves we concluded that he was actually an agent of some government security service supervising the company deals and contacts. I guess you strongly underestimate the level of government participation in businesses across China

do you have proof of that?

I'm curious what kind of proof you might want?

I'm telling you first hand experience, and you ask me to show you proofs? If you are doubting my words, this essentially boils down to saying that I'm lying. Do you really think that I'm going to prove what I saw with my own eyes to anyone? If you (or anyone else, for that matter) don't believe my words, go and check for yourself

[babo]

More mining power is'nt equal to control bitcoin.. in my humble opinion.. who control code and community and early adopter? I think no one

[john2231]

More mining power is'nt equal to control bitcoin.. in my humble opinion.. who control code and community and early adopter? I think no one

Yeah agree no one can control bitcoin even they are have lots of bitcoin farm they are just mine on bitcoin not control it but they can control the price just to dump and pump. but i think they don't do that because they are expecting more price increase with bitcoin. and bitcoin is decentralize so that no one can control bitcoin..

[MTBTT]

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 yes , my opinion average of user bitcoin is chinese so their controller

Lol I want to ask you, if they can control the bitcoin, how they control the bitcoin?
and you know there are other countries that also have very large users, what do you think?