Is CHINA CONTROLLING Bitcoin?

[kiklo]

There is no singular 51% attack, there is 51% attack by grouping.

In regards to collusion amongst multiple parties, nationality is irrelevant. And unless you can point to a concrete instance of these parties colluding, your statement "there is 51% attack" is false.

http://www.coindesk.com/china-miners-big-blocks/

It was not entirely an idle joke when one speaker at China's first miner conference quipped that
if the audience decided to launch a 51% attack against the bitcoin network, they would probably be able to pull it off.

Huang's most notable comments addressed the issue of scaling, or how the bitcoin blockchain might be upgraded for more transactions.

Rather than focus on incremental solutions (like Segregated Witness, introduced in the latest bitcoin software update),
he took an opposite approach. His talk saw him arguing for the aggressive on-chain scaling tactics that have earned a notable minority of enthusiasts.

When Huang took up the subject, he suggested miners "pretty much determine" how the bitcoin network will scale.

* By Miners, he meant the Chinese Miners.  


 

FYI:
No probably about it with ~67% hash rate combined they can 51% attack it without breaking a sweat.
If you think the Chinese are dumb enough to have over 51% hash show up on 1 mining pool,
Please realize they are Smarter than that, by keeping their massive control of BTC separated by a Pie Chart,
all of the BTC Shrills will argue they don't have 51% , which is BS, because combined they do.
BTC or Chinese Yuan, same thing China controls both.
All of you that are blind to this, should read the art of war, it is their playbook for War & Business.

http://www.chinabusinessleadership.com/2013/09/05/is-using-the-art-of-war-for-doing-business-in-china-a-good-concept/

Small Business principles from a war manual is really what China is like.
In 1996, all businessmen in China were studying Sun Tzu‘s  Art of War to learn business and seasoned local Chinese businessmen  today are 10 times more familiar with this than Ken Blanchard.

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[lambofan]

Yes they do it,  and if you do not believe just check the price and volumes of today, Besides the control of the mining by them is quite obvious.

[BitMaxz]

Well China has taken interest in bitcoin and maybe has the most bitcoin but they don't control it

That's the right term for it, they may have interest for it and they have the most bitcoin that are holding but they don't have total control for bitcoin. But each of their movement is very solely important to the whole bitcoin system and does affects its price all the time. I speculate that big pools operator are living there and as well as some of whales.

yeah , you said true , but I think Bitcoin is really control by the China because here not only the matter of mining and many miner in China but in  the recent 5-6 days  China made a big purchase of Bitcoin volume and made the price high . So absolutely China controlling the Bitcoin market .

i think no one know the purchaser and the users of bitcoin then how can we say that bitcoin is purchased by china or the most users of  bitcoins are from China, i do not believe on such news.

We wouldn't really know who are the users of bitcoin in China but why you wouldn't believe such news if there are factual information that they are already into bitcoin and most of them are mining it already. Also many of them are holding bitcoins which is leading them to be one of the most powerful country that are contributing to the price control.

Well china has the largest mining farm that is why they are saying that china can be control bitcoin that honestly it is impossible to happen..
Yeah there are many bitcoins that already mined and use world wide.. and i think not all in china are buying bitcoins right now.. many people are buying in bitcoin not only china.. and many company right now are using bitcoin.. also bitcoin is decentralized so it is impossible that china can be control bitcoin. maybe they can dump all their mined bitcoin that can affect too much the value of bitcoin.. because they are holding a large number of bitcoin.

[GMPoison]

At this point in bitcoins life, it doesn't matter who is controlling it. When - not if - bitcoin becomes easier to use and easier to understand, however many years that may be - bitcoin is going to change the world. If China looks like a threat, then other countries will react to take away control. That's the beauty of bitcoin. No one really "controls" it. China doesn't "control" it. China may temporarily have the most mining power - currently - but like I said right now that doesn't mean much, and if it will mean much in the future, others will keep them in check.

[BitSat]

Yes they do it,  and if you do not believe just check the price and volumes of today, Besides the control of the mining by them is quite obvious.

I am not agree with this they are not controlling this but they are big stake holders in this community because they are doing very positive for this but they can control this in future  which is not good

[valley365]

No country can control the bitcoin. It is like no country can control the gold or silver. It is a commodity available to everyone who can purchase, as long as you have enough money.

[mastica]

As i know both companies located at China are personal investment from a group or a person that invested deeply into bitcoin to get a huge source of income over the next years, but sure if China decides to adquire those big farmers they have there can control in large scale the new bitcoins as the future, but we all know that if they make any step into those direction we will see bitcoin going down in seconds, and i mean down to 1 dollar or lower values, bitcoin its decentralized.

[marcus_of_augustus]

It is actually the Swiss that control bitcoin ... a super secret group that sits in caves under mountains and plans and plots and pulls levers to control bitcoin. What you see is all really just make believe.

[HaruBit]

I don't know why more people are choosing "NO".
You can see here http://fiatleak.com/

major bitcoin transaction do in China, i know no one can control the bitcoin, but China has a lot bitcoin users, although can not control the bitcoin but still can control the market.

maybe the current price is controlled by China ?
we don't know.

[GMPoison]

I don't know why more people are choosing "NO".
You can see here http://fiatleak.com/

major bitcoin transaction do in China, i know no one can control the bitcoin, but China has a lot bitcoin users, although can not control the bitcoin but still can control the market.

maybe the current price is controlled by China ?
we don't know.

You just said it yourself, no one can control bitcoin. Maybe China is currently influencing the price of bitcoin more so than other countries, but that in no way means what people imply when you say "China controls bitcoin".

[mornabo]

Yes they do it,  and if you do not believe just check the price and volumes of today, Besides the control of the mining by them is quite obvious.

do you think of high prices and high volume today is a manipulation by the adder of china? I think this is the demand of interested users to continue to buy because they see prices continue to rise?

[kiklo]

51% attack

http://www.coindesk.com/51-attacks-real-threat-bitcoin/

Combined the Chinese Mining Pools have ~67% .

http://www.coindesk.com/china-miners-big-blocks/

It was not entirely an idle joke when one speaker at China's first miner conference quipped that
if the audience decided to launch a 51% attack against the bitcoin network, they would probably be able to pull it off.

Huang's most notable comments addressed the issue of scaling, or how the bitcoin blockchain might be upgraded for more transactions.

Rather than focus on incremental solutions (like Segregated Witness, introduced in the latest bitcoin software update),
he took an opposite approach. His talk saw him arguing for the aggressive on-chain scaling tactics that have earned a notable minority of enthusiasts.

When Huang took up the subject, he suggested miners "pretty much determine" how the bitcoin network will scale.

* By Miners, he meant the Chinese Miners. 


 

FYI:
No probably about it with ~67% hash rate combined they can 51% attack it without breaking a sweat.
If you think the Chinese are dumb enough to have over 51% hash show up on 1 mining pool,
Please realize they are Smarter than that, by keeping their massive control of BTC separated by a Pie Chart,
all of the BTC Shrills will argue they don't have 51% , which is BS, because combined they do.
BTC or Chinese Yuan, same thing China controls both.
All of you that are blind to this, should read the art of war, it is their playbook for War & Business.

http://www.chinabusinessleadership.com/2013/09/05/is-using-the-art-of-war-for-doing-business-in-china-a-good-concept/

Small Business principles from a war manual is really what China is like.
In 1996, all businessmen in China were studying Sun Tzu‘s  Art of War to learn business and seasoned local Chinese businessmen  today are 10 times more familiar with this than Ken Blanchard.

[shinratensei_]

There is no singular 51% attack, there is 51% attack by grouping.

In regards to collusion amongst multiple parties, nationality is irrelevant. And unless you can point to a concrete instance of these parties colluding, your statement "there is 51% attack" is false.

http://www.coindesk.com/china-miners-big-blocks/

It was not entirely an idle joke when one speaker at China's first miner conference quipped that
if the audience decided to launch a 51% attack against the bitcoin network, they would probably be able to pull it off.

Huang's most notable comments addressed the issue of scaling, or how the bitcoin blockchain might be upgraded for more transactions.

Rather than focus on incremental solutions (like Segregated Witness, introduced in the latest bitcoin software update),
he took an opposite approach. His talk saw him arguing for the aggressive on-chain scaling tactics that have earned a notable minority of enthusiasts.

When Huang took up the subject, he suggested miners "pretty much determine" how the bitcoin network will scale.

* By Miners, he meant the Chinese Miners. 


 

FYI:
No probably about it with ~67% hash rate combined they can 51% attack it without breaking a sweat.
If you think the Chinese are dumb enough to have over 51% hash show up on 1 mining pool,
Please realize they are Smarter than that, by keeping their massive control of BTC separated by a Pie Chart,
all of the BTC Shrills will argue they don't have 51% , which is BS, because combined they do.
BTC or Chinese Yuan, same thing China controls both.
All of you that are blind to this, should read the art of war, it is their playbook for War & Business.

http://www.chinabusinessleadership.com/2013/09/05/is-using-the-art-of-war-for-doing-business-in-china-a-good-concept/

Small Business principles from a war manual is really what China is like.
In 1996, all businessmen in China were studying Sun Tzu‘s  Art of War to learn business and seasoned local Chinese businessmen  today are 10 times more familiar with this than Ken Blanchard.

  The Chinese can do 51% outside the personal attack.
So it's real. 

I've understood what the Chinese people's mind.

Can Segwit.co be an evidence? 

It can be affecting the result of the consensus. Although every pool was running with alone.

So even SegWit won't be activating and Lightning will be lame.

[icqcointokenwallet]

China has always been technological advanced than the others.  You mad because they knew to get in on mining early the the rest of the idiots.  If its a competition and real threat.  Those billionaires who are worried should invest into some mining power farms. 

[GMPoison]

51% attack

http://www.coindesk.com/51-attacks-real-threat-bitcoin/

Combined the Chinese Mining Pools have ~67% .

http://www.coindesk.com/china-miners-big-blocks/

It was not entirely an idle joke when one speaker at China's first miner conference quipped that
if the audience decided to launch a 51% attack against the bitcoin network, they would probably be able to pull it off.

Huang's most notable comments addressed the issue of scaling, or how the bitcoin blockchain might be upgraded for more transactions.

Rather than focus on incremental solutions (like Segregated Witness, introduced in the latest bitcoin software update),
he took an opposite approach. His talk saw him arguing for the aggressive on-chain scaling tactics that have earned a notable minority of enthusiasts.

When Huang took up the subject, he suggested miners "pretty much determine" how the bitcoin network will scale.

* By Miners, he meant the Chinese Miners.  


 

FYI:
No probably about it with ~67% hash rate combined they can 51% attack it without breaking a sweat.
If you think the Chinese are dumb enough to have over 51% hash show up on 1 mining pool,
Please realize they are Smarter than that, by keeping their massive control of BTC separated by a Pie Chart,
all of the BTC Shrills will argue they don't have 51% , which is BS, because combined they do.
BTC or Chinese Yuan, same thing China controls both.
All of you that are blind to this, should read the art of war, it is their playbook for War & Business.

http://www.chinabusinessleadership.com/2013/09/05/is-using-the-art-of-war-for-doing-business-in-china-a-good-concept/

Small Business principles from a war manual is really what China is like.
In 1996, all businessmen in China were studying Sun Tzu‘s  Art of War to learn business and seasoned local Chinese businessmen  today are 10 times more familiar with this than Ken Blanchard.

The 51% attack isn't too big of a real threat depending on who you ask, the link you provided even gave solid reasoning behind why it alone is not a real threat.

http://www.coindesk.com/51-attacks-real-threat-bitcoin/

[tabas]

China has always been technological advanced than the others.  You mad because they knew to get in on mining early the the rest of the idiots.  If its a competition and real threat.  Those billionaires who are worried should invest into some mining power farms. 

No one is mad at Chinese here, maybe somebody is mad at their greediness but you are right there. They know that bitcoin is something to be good in the future so they invested into mining and they are already harvesting now the profit that they got from trusting into bitcoin way back from its earlier days and it's all worth it and people in China who are into bitcoins are now one of millionaires/billionaires because of it.

[lambofan]

Yes they do it,  and if you do not believe just check the price and volumes of today, Besides the control of the mining by them is quite obvious.

do you think of high prices and high volume today is a manipulation by the adder of china? I think this is the demand of interested users to continue to buy because they see prices continue to rise?

Btc was over $1000 once in the last of 2013 and since then the demand should have increased considerably but seeing of this way, the price remains the same, such as it was on  a time point three years ago, So if we base its price  on the demand due to interested users mainly  we would conclude that in these three years demand has remained the same, which would not be very right, and there we realize that if the price is the same in that period and demand has increased as it is logical to think, then we realize that the price is controlled in one way or another so that it will hardly fall so low nor rise sharply so high at least in those periods of time.

[mrkevio]

China has always been technological advanced than the others.  You mad because they knew to get in on mining early the the rest of the idiots.  If its a competition and real threat.  Those billionaires who are worried should invest into some mining power farms. 

No one is mad at Chinese here, maybe somebody is mad at their greediness but you are right there. They know that bitcoin is something to be good in the future so they invested into mining and they are already harvesting now the profit that they got from trusting into bitcoin way back from its earlier days and it's all worth it and people in China who are into bitcoins are now one of millionaires/billionaires because of it.

Bitcoin's market cap is $16.000.000.000 at the moment, so being a billionaire from Bitcoin mining isn't that possible at this moment. There are maybe millionaires, but not billionaires. China is growing very fast and Bitcoin is spreading around even faster in their country. If Europe did the same, Bitcoin's price would have been tens of thousands right now, but at the same time Brussels would have done something about it (against us) until now.

[hulla]

In theory it could be, China owns most of the hashrate. If the Chinese government contacts those miners they could in theory control bitcoin. It's not going to happen though, I think most of those Chinese miners are just people who barely even know what bitcoin is and don't really care about it, they just want to make money.

i don't think so if you are a miners you know what bitcoin is, those chinese know how bitcoin work otherwise you can not explain why they refused 2MB and segwit int he first place

Sure, they know what bitcoin is but I don't think they're really in to it or check this forum daily to see how bitcoin is going. They just want to run the least risky bitcoin software so their investment stays safe and lucrative. They don't really care about the future of bitcoin IMO.

Oh. That can't be true and what make you so sure that the Chinese don't check on this forum in other to know what going with bitcoin? I knew some few Chinese on here but they can't come and tell they're Chinese cos they don't need it. In addition to, if you invested in a business won't you also care about running it?

[poldanmig]

51% By Official been in Master and in the Lead by Company derived from China. China can lead because geolocations of encouragement. China has a region size and high plains has some cool weather mouth (Cold).

Cold distinguished location. Suitable for cost saving cooling fan server computer engineering from danger overheated. So the price can compete. In add to labor, employee or labor in china famous-cost offers. So many people Across the World Miners buying services from China.

So it is possible that China controls Bitcoin.