Is CHINA CONTROLLING Bitcoin?

[MMA]

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

but to me i think even China cannot influence the price of bitcoin, bitcoin is a universal currency and is used by the people in all over the world therefore for a single country i think it is not possible to manipulate the price of bitcoin so easily.

[hulla]

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

You're definitely mate cos India are only into bitcoin cos they see the impact and the good features of it. But China see bitcoin as light, revolution, life and the future.

[funcaty]

China's largest number of users and miners, but not on behalf of China to control bitcoin. No one can control bitcoin, like an economic form, who can grasp the route of economic development.

[coynedterm]

I think yes because  the most of the Bitcoin user are of China and most of the big miner are of China , as electricity is cheap in China , So the maximum amount of Bitcoin is controlled by the China user .

[Ejinx]

It doesn't really matter in has much as i get my Bitcoin when needed.

[psomas2]

It doesn't really matter in has much as i get my Bitcoin when needed.

It may not matter to you my dear but it matters to almost all traders and holders. And even you, but your too new to realize it.

[dhampir-D]

The fact that China has a large number of miners and users is not something negative, in my opinion. In fact this is something that can contribute for the ecosystem to expand more quickly. Such a populous nation adopting a new currency will make people wake up to it, to the potential in Bitcoin.

[hulla]

China's largest number of users and miners, but not on behalf of China to control bitcoin. No one can control bitcoin, like an economic form, who can grasp the route of economic development.

Yes, no one can grasp the route of economic development but through some act and balance some level of things economic development can be control. That's how is goes concern bitcoin either and that's the reason why China control bitcoin.

The fact that China has a large number of miners and users is not something negative, in my opinion. In fact this is something that can contribute for the ecosystem to expand more quickly. Such a populous nation adopting a new currency will make people wake up to it, to the potential in Bitcoin.

You're right mate and this is one of reason why China control bitcoin. Though, China been a nation with high number of miners affect individual miner but China make individual miner think outside the box and they also make them use an updated software.

[HaXX0R1337]

China does control the mining hardware industry because bitmain will challenge any upcoming companies as any corporate structures do and since the manufacturers are from china it is easy for them to attain the mining equipment from them and china being a populated country people would invest in new technology and that is why we see more miners in china.

[Taki]

No fact nobody controls bitcoin. If there is some cons of the control it's going from the creator Satoshi Nakomoto and bitcoin miners. I can understand control from China only in such sense that it's number one by the number of bitcoin users and this is it.

[GreenLighter]

Chinese miners are so far ahead of the rest of the world that it's not even funny

[john2231]

China does control the mining hardware industry because bitmain will challenge any upcoming companies as any corporate structures do and since the manufacturers are from china it is easy for them to attain the mining equipment from them and china being a populated country people would invest in new technology and that is why we see more miners in china.

I think china was mining before started with pc computer before until there is release hardware like u2 hardware miner until release antminer s series until now bitmain s9. they are not control the bitcoin they are just halve a large mining farm of bitcoin.. dont afraid of that because bitcoin is decentralized ..

[shinratensei_]

I dont think China is controlling bitcoins. Bitcoins is a fee online cyptocurrency and it must not be controlled by any country.

Is a fee online? What a sense for that? bitcoin isn't a fee but it's currency. And it was being possible for some parties will be controlling bitcoin about use 51% possibilities. And again it can get control by some parties.

No fact nobody controls bitcoin. If there is some cons of the control it's going from the creator Satoshi Nakomoto and bitcoin miners. I can understand control from China only in such sense that it's number one by the number of bitcoin users and this is it.

https://blockchain.info/id/pools/

It was making sense about Chinese was holding the 51% power right now(hash). It's not only about the bitcoiner populations in such country.

[rizkyhiw]

China does control the mining hardware industry because bitmain will challenge any upcoming companies as any corporate structures do and since the manufacturers are from china it is easy for them to attain the mining equipment from them and china being a populated country people would invest in new technology and that is why we see more miners in china.

I think china was mining before started with pc computer before until there is release hardware like u2 hardware miner until release antminer s series until now bitmain s9. they are not control the bitcoin they are just halve a large mining farm of bitcoin.. dont afraid of that because bitcoin is decentralized ..

The simple view of why china could control over bitcoin is on how a lot bitcoin miner was chinese
And people start worrying about it , about the influence to bitcoin ecosystem
They think with that situation china could do whatever they wish to stir bitcoin.

[Positid]

China does control the mining hardware industry because bitmain will challenge any upcoming companies as any corporate structures do and since the manufacturers are from china it is easy for them to attain the mining equipment from them and china being a populated country people would invest in new technology and that is why we see more miners in china.

I think china was mining before started with pc computer before until there is release hardware like u2 hardware miner until release antminer s series until now bitmain s9. they are not control the bitcoin they are just halve a large mining farm of bitcoin.. dont afraid of that because bitcoin is decentralized ..

The simple view of why china could control over bitcoin is on how a lot bitcoin miner was chinese
And people start worrying about it , about the influence to bitcoin ecosystem
They think with that situation china could do whatever they wish to stir bitcoin.

I think it it's just fair, what if the value shrink so definitely they will also lose and their operation will fail. It's not a serious as we think actually as people who invested with bitcoin are smart enough to understand that this is base on real demand and supply.

[Bigdan]

I don't think China is controlling bitcoins but they may have certain things to their advantage like cheap electricity, cheap (hardware) antminer and manpower to run large farms but it doesn't make them automatic controllers of the currency. Chances are that majority of those farms could be owned by expatriates and they are running them in their country because of the cheap electricity or hardware.

[hulla]

Chinese miners are so far ahead of the rest of the world that it's not even funny

Yes buddy and that's why I said China controls bitcoin cos every satoshi which make bitcoin that we both have in our wallet was generated in the capital through the miners. Therefore, I said the country ahead in mining of bitcoin control it I'm I not on the right track?

[chixka000]

Chinese miners are so far ahead of the rest of the world that it's not even funny

Yes buddy and that's why I said China controls bitcoin cos every satoshi which make bitcoin that we both have in our wallet was generated in the capital through the miners. Therefore, I said the country ahead in mining of bitcoin control it I'm I not on the right track?

Having a huge mining power and bitcoin control are two different things. As far as i know bitcoin miners does not generate bitcoins they only solved transactions and in return they will get the fees. China maybe is really ahead from any other country in terms of power but i guess that doesn't mean they have the power to control bitcoin as well.

[rajasumi2]

No china is not controlling bitcoins at all .they are investing a lot of money in bitcoin mining and if this continues at this rate ,by 2140 china will be the holder and of most of the bitcoins and will be ruling the world to a great extend.

[hulla]

Chinese miners are so far ahead of the rest of the world that it's not even funny

Yes buddy and that's why I said China controls bitcoin cos every satoshi which make bitcoin that we both have in our wallet was generated in the capital through the miners. Therefore, I said the country ahead in mining of bitcoin control it I'm I not on the right track?

Having a huge mining power and bitcoin control are two different things. As far as i know bitcoin miners does not generate bitcoins they only solved transactions and in return they will get the fees. China maybe is really ahead from any other country in terms of power but i guess that doesn't mean they have the power to control bitcoin as well.

Nah. You got it all wrong mate. This is how it works whenever a miner successfully mine/solves bitcoins proof of work algorithm, that miner mined a block and an amount of bitcoin's agreed by the network will be giving to the miner or mining pool that mines the block through block reward. Therefore, the bitcoins in the block reward are all new bitcoins and this is the only way that new bitcoins are created.

No china is not controlling bitcoins at all .they are investing a lot of money in bitcoin mining and if this continues at this rate ,by 2140 china will be the holder and of most of the bitcoins and will be ruling the world to a great extend.

He respond which provide a geniune reason why China control bitcoin is above mate. Read till you understand so there won't be any misconception. Ok?