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darklus123
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December 07, 2016, 07:59:00 AM |
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I do not think that China is controlling bitcoin, the concept of decentralized peer to peer should explain it. Even with majority of the hashrate is located in that place, it is not own by a single personality. So the interest and idealism about what to do with he hashpower is not controlled by only one person.
exactly, peer to peer concept + strong community + opensource code + love about users = no one can control bitcoin Exactly, no could really control it because it is alive as long as there were people who supported it. Yet the fact that most of the miners really huge percentage of miners to be exact was in china. They might not be able to control bitcoin itself(but the flow can be manipulated in the long term process). If they succeed the peer to peer concept would be centralized only to that certain country + the strong community(they would surely be the strongest group in bitcoin community) and that is not good |
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n2004al
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December 07, 2016, 08:03:20 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?
Bitcoin is not and cannot be controlled by no one. The fact that now in China is the biggest interest for bitcoin mean that simple people here want more bitcoin and that's all. Is not the State who have desire to have bitcoin but the simple people. And this mean that they are not able to control bitcoin because are to many and not only one owner. Then to not forget that bitcoin is decentralized and open source; two factors these which make even more impossible that bitcoin be controlled by some centralized authority and even less by a bunch of people. |
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shinratensei_
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December 07, 2016, 08:41:18 AM |
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Besides the original concept of bitcoin that exists in theory land can you please tell the viewers ho many exchanges currently control the price of bitcoin?
They are after all responsible for the perception that bitcoin is not a tulip.
original concept of bitcoin exists in REAL land.. this forum is a REAL clue of this and other company and country will use concept of blockchain and crypto currencies for other stuffs is real, not theory.. and no one can control a p2p network 51% attack = there is a chance for controlling the bitcoin network. |
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btvGainer
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December 07, 2016, 09:51:37 AM |
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Not just china it seems that now India also is playing great part in influencing bitcoin price.Seeing how fast bitcoin price goes up in India after demonetization,I think bitcoin will gain more popularity in India and more indians will go for mining as well
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skyway1
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December 07, 2016, 09:59:21 AM |
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i think there no one know surely know that who controlling the bitcoin and i heard in many places that people claim that china controlling the bitcoin but i think there is no proof with anyone that china controlling the bitcoin so we can not say that china controlling the bitcoin.
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bitbunnny
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December 07, 2016, 06:48:07 PM |
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i think there no one know surely know that who controlling the bitcoin and i heard in many places that people claim that china controlling the bitcoin but i think there is no proof with anyone that china controlling the bitcoin so we can not say that china controlling the bitcoin.
No one is controlling Bitcoin. It's decentralized and independent from any institution or country. But the thing is that China can influence the Bitcoin price because of mining farms and engaging a lot in Bitcoin. But there is a big difference between influence and control. If some country takes the control over Bitcoin that would be the end of idea of Bitcoin. |
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hv_
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December 14, 2016, 08:41:04 AM |
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They might start doing this here: https://www.youtube.com/watch?v=ULQSPaLSOxkThey don't like to be controlled esp by US-guys, TX fees, censoring .... Depend on how the dev stuff stalls ? They can also think and code.... |
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Pattart
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December 14, 2016, 10:17:21 AM |
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Not just china it seems that now India also is playing great part in influencing bitcoin price.Seeing how fast bitcoin price goes up in India after demonetization,I think bitcoin will gain more popularity in India and more indians will go for mining as well
you know bitcoin bitcoin users in control by itself, if in a country that has a large user bitcoin, and bitcoin miners you know of china is a lot and you know what they could do with bitcoin. I can not say it. therefore only guess only |
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Blitzboy
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December 14, 2016, 10:23:38 AM |
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Not just china it seems that now India also is playing great part in influencing bitcoin price.Seeing how fast bitcoin price goes up in India after demonetization,I think bitcoin will gain more popularity in India and more indians will go for mining as well
You are right. however, China is still playing the more important role than the India because they own more mining pool. The Indian only by Bitcoin for temporary reason while Chinese put their money and effort for long time investment.Basically, China still cause more impact to Bitcoin than other parts of the world |
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adg0729
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December 14, 2016, 10:54:37 AM |
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china controlling even the bitcoin world? . bitcoin can mine right? so how they can control it? i dont get it
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kiklo
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December 14, 2016, 11:05:45 AM |
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china controlling even the bitcoin world? . bitcoin can mine right? so how they can control it? i dont get it
They control over 51% of the mining , which means they can do a 51% attack. Which means they can deny any transaction they wish or rewrite the last 12 hours of the Blockchain history at will.  They are your BTC Daddy.   |
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shinratensei_
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December 14, 2016, 11:21:16 AM |
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china controlling even the bitcoin world? . bitcoin can mine right? so how they can control it? i dont get it
They control over 51% of the mining , which means they can do a 51% attack. Which means they can deny any transaction they wish or rewrite the last 12 hours of the Blockchain history at will. They are your BTC Daddy. May you forget to put 51% bitcoin nodes attack for ignoring any transaction.   |
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triasel
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December 14, 2016, 12:45:25 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 am not sure about controlled and ruled by China, but i know in china bitcoin be legal activity from this we know that bitcoin accepted as payment too . and many users bitcoin in there |
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Yutikas_11920
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December 14, 2016, 12:50:10 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 am not sure about controlled and ruled by China, but i know in china bitcoin be legal activity from this we know that bitcoin accepted as payment too . and many users bitcoin in there Yup, I also think so. For if we see from all the things that exist in the bitcoin, that china is the largest user of or as to say china is a country that was very active from users in other countries. But that does not mean it is giving the impact or the idea that china is a country that controls all of the bitcoin. It is thought wrong, because if indeed china control the bitcoin then you've surely the Chinese Government already announced the bitcoin was labelled an original currency or recognised in those countries, |
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iqlimasyadiqa
Legendary
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December 14, 2016, 12:53:44 PM |
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i think there no one know surely know that who controlling the bitcoin and i heard in many places that people claim that china controlling the bitcoin but i think there is no proof with anyone that china controlling the bitcoin so we can not say that china controlling the bitcoin.
China today is a great country. they have adequate resources. many new technologies owned china. and most of the state miner is derived from china. they could control the current bitcoin. they can influence price movements bitcoin. |
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Text
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December 14, 2016, 01:07:42 PM |
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China is not controlling bitcoin. I don't believe that China takes over the btc. For me, because they have big mining companies or more users, so meaning to say they are already have control in bitcoin? No it is not like that. So my answer is no.
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freshman777
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December 14, 2016, 01:46:37 PM |
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China is not controlling bitcoin. I don't believe that China takes over the btc. For me, because they have big mining companies or more users, so meaning to say they are already have control in bitcoin? No it is not like that. So my answer is no.
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Mbokani
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December 14, 2016, 03:55:01 PM |
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China does have the biggest mining farms and they have spent a whole lot of mining for these and that does not mean that they are controlling bitcoin but they have the highest hashing power and so they will be the highest bitcoin earners .
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xavier77
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Xavier
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December 14, 2016, 04:22:58 PM |
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I dont think China is controlling bitcoins. Bitcoins is a fee online cyptocurrency and it must not be controlled by any country.
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error08
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December 14, 2016, 04:36:23 PM |
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Does it really matter?
To me it matters, that's why I'm asking you guys. Is China really controlling Bitcoin? Is Bitcoin really controllable? If so, is it China? Nope, bitcoin is uncontrollable by any country because every users that have bitcoin are. It's true that China miners and trading volume are the biggest in the world but it doesn't mean they have full control of bitcoin, so they could makes the price rise and gone immediately, we know that is impossible. Although, even if China miners could manipulate the price of bitcoin, they will do for good purpose. |
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