Is CHINA CONTROLLING Bitcoin?

[Evansloin]

China is not controlling the bitcoin at all because it was in the first place due to the fact it was mining a lot but this also has stopped these days.

[Bitcoinsummoner]

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.

There is no controling bitcoin since bitcoin is decentralize it is not actually centralize like their said.. china has a big company that has largest mining farm of bitcoin they are just a miner they want to control bitcoin but they have no rights to do that.. But they give large contribute in bitcoin.

[asuryan180]

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.

That's true,China just have the most miners and mining power but that doesn't mean that they control BTC in any way,China just has the most miners,in order for someone to control BTC there should be a number of people or organizations who make controlled decisions but with so much people this isn't possible so nobody is controlling BTC and that is a thing that some people say in order to show BTC in a wrong light.

[skyway1]

i heard that china controlling bitcoin but i do not think that china controlling bitcoin because there is no one surely know that who controlling bitcoin and no one can give the proof about bitcoin that who controlling it so we can say that bitcoin is anonymous currency.

[Vikingr]

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.

There is no controling bitcoin since bitcoin is decentralize it is not actually centralize like their said.. china has a big company that has largest mining farm of bitcoin they are just a miner they want to control bitcoin but they have no rights to do that.. But they give large contribute in bitcoin.

I don't think that china want to control bitcoin as if they are more active in bitcoin and they have more knowledge about bitcoin then they will also know that it is totally impossible for someone to control bitcoin. But they are just working hard for the support and establishment of bitcoin

[kiklo]

I don't think that china want to control bitcoin as if they are more active in bitcoin and they have more knowledge about bitcoin
then they will also know that it is totally impossible for someone to control bitcoin. But they are just working hard for the support and establishment of bitcoin

You need to read up on what a 51% attack is,
then you will know it is possible for Anyone with 51% to control BTC.
Especially since their mining pools have had up to 70% in the past year.

 

[OliynyK]

i heard that china controlling bitcoin but i do not think that china controlling bitcoin because there is no one surely know that who controlling bitcoin and no one can give the proof about bitcoin that who controlling it so we can say that bitcoin is anonymous currency.

how can China able to control bitcoin ,it is a decentralized currency and no one can control the coin and no one needs to give the proof about that.If China does have all the miners its not anyone's fault  .

[kiklo]

i heard that china controlling bitcoin but i do not think that china controlling bitcoin because there is no one surely know that who controlling bitcoin and no one can give the proof about bitcoin that who controlling it so we can say that bitcoin is anonymous currency.

how can China able to control bitcoin ,it is a decentralized currency and no one can control the coin and no one needs to give the proof about that.If China does have all the miners its not anyone's fault  .

No offense , but are you stupid and don't know what a 51% attack is,
or
the Fact the Chinese Mining Pools control more than 51%.

Meaning they can determine if transactions are included or not included in a block.
They can freeze your coins in your wallet , where you can't use them, or block anyone else from sending you more BTC.
They can also rewrite the last 12 hours of transaction history whenever they feel like it, double spending like crazy.
And there is nothing you can do to stop them, if they decide to do it.


 

[shinratensei_]

i heard that china controlling bitcoin but i do not think that china controlling bitcoin because there is no one surely know that who controlling bitcoin and no one can give the proof about bitcoin that who controlling it so we can say that bitcoin is anonymous currency.

how can China able to control bitcoin ,it is a decentralized currency and no one can control the coin and no one needs to give the proof about that.If China does have all the miners its not anyone's fault  .

No offense , but are you stupid and don't know what a 51% attack is,
or
the Fact the Chinese Mining Pools control more than 51%.

Meaning they can determine if transactions are included or not included in a block.
They can freeze your coins in your wallet , where you can't use them, or block anyone else from sending you more BTC.
They can also rewrite the last 12 hours of transaction history whenever they feel like it, double spending like crazy.
And there is nothing you can do to stop them, if they decide to do it.


 

They just need to make another post, and no cares about the other knowledge about that.


https://blockchain.info/pools

BW,Bitfury,F2pool

But it does not include about 51% nodes and are they can touch the transaction? 

[kiklo]

Chinese Mining Pools
______________________________
AntPool  17.6%
BTC.com   3.9%
BTCC        8.9%
BW.com   10.9%
F2Pool     15%        
HaoBTC     5.5%
ViaBTC      6.4%
_____________________________
Total   68.2%


 

FYI:   http://www.btcpedia.com/bitcoin-51-attack/

Bitcoin 51% Attack
    Reverse transactions that he sends while he’s in control.
    This has the potential to double-spend transactions that previously had already been seen in the block chain.
    Prevent some or all transactions from gaining any confirmations.
    Prevent some or all other miners from mining any valid blocks.

FYI2:
There are 196 countries in the world today.
BTC is controlled by 1 country China.
BTC= BETTER TRUST CHINA

[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.

That's true,China just have the most miners and mining power but that doesn't mean that they control BTC in any way,China just has the most miners,in order for someone to control BTC there should be a number of people or organizations who make controlled decisions but with so much people this isn't possible so nobody is controlling BTC and that is a thing that some people say in order to show BTC in a wrong light.

Was that a suggestion or something you believe in and I don't know why it so hard for you people to accept the fact that China did control bitcoin. Go through the below link

[gredisgold88]

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 , if china which controls the BTC price it is not possible, but if the distribution is in china bitcoin I would think again. Kalok china plays prices BTC, BTC how much do they have? if they sell and buy again? How do you lose? chances are they put on hardware with very many

[Przemax]

Having a control is a little too strong word as its implies that all chineese miners and investors have one political will. If they dont have one political will they still have a lot to say and have a lot of power over it. In some belittled sense they might have such a control, as any other powerfull type of investors that might some common goals in any other worldy assets.

[chixka000]

Was that a suggestion or something you believe in and I don't know why it so hard for you people to accept the fact that China did control bitcoin. Go through the below link

Then what's the problem? Are you having any problems with your transactions because of you were thinking that china is controlling bitcoin? No right? There is no difference at all before when they don't have too much mining power and now. What does it mean? It's pretty obvious that they don't have a control on it

[Ruhtilg]

Was that a suggestion or something you believe in and I don't know why it so hard for you people to accept the fact that China did control bitcoin. Go through the below link

Then what's the problem? Are you having any problems with your transactions because of you were thinking that china is controlling bitcoin? No right? There is no difference at all before when they don't have too much mining power and now. What does it mean? It's pretty obvious that they don't have a control on it

Most of the proper transactions are in the West, not in the China. The Chinese are just hard labour miners.

[Landak]

Was that a suggestion or something you believe in and I don't know why it so hard for you people to accept the fact that China did control bitcoin. Go through the below link

Then what's the problem? Are you having any problems with your transactions because of you were thinking that china is controlling bitcoin? No right? There is no difference at all before when they don't have too much mining power and now. What does it mean? It's pretty obvious that they don't have a control on it

Most of the proper transactions are in the West, not in the China. The Chinese are just hard labour miners.

yeah i agree with you if about transaction, but if we look the market we will see market on china seriously can be affecting the price of bitcoin worldwide. that's why someone say china have control with bitcoin (not all true but in the real fact i think this is true). so i agree with you and agree with thread started who had make question about this thread

[crwth]

China has a lot of mining sites so they have Bitcoin gold mine there but doesn't mean that they control Bitcoin. Is it about prices? Or something? It defeats the purpose of Bitcoin if someone controls it. It's decentralized, people.

[BlackPanda]

china state power is immense. they are part of a great power in the world today. it is possible that China can control bitcoin. but now I see that bitcoin is used as well in control by all people in the world.

[Bigdan]

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?

Yes, I think China is indeed controlling bitcoin,over 70 percent of the transactions on the Bitcoin network are going through just four Chinese companies or mining pools and most flowed through just two of those companies. That gives them the veto power over any changes to the Bitcoin software and technology. Over the past few years, China has become a major market for bitcoins unlike other countries and they have established huge investments in server farms as well as enormous speculative trading on bitcoin exchanges. Chinese exchanges account for 42% of all Bitcoin transactions. But China’s clout is raising worries about Bitcoin’s independence and decentralization, because they are now controlling majority of the bitcoin network hence they are in absolute control unlike any other country.

[sellbtctraderz]

The traders are controlling the price. High leverage trading is how the price is determined. The whales are having a never ending chess game.