Is CHINA CONTROLLING Bitcoin?

[crwth]

i think no one know truely know that how controlling the bitcoin because bitcoin is anonymous currency so no know know that how controling the bitcoin and its wrong news that people says china controlling the bitcoin.

can control a lot of sense, may be included can change or affect the market price of bitcoin, and bitcoin users in China is huge. and of course when they have a cohesiveness that could affect bitcoin

Well if you have large amounts of bitcoin that could really change the way it flows, you could control it. They are saying that China controls it because they have mining farms for Bitcoin, and they saw that as an opportunity to earn it. They invested and now has lots of bitcoins with just that, being a massive player in the Bitcoin community, they are assumed in control.

[Roboabhishek]

I don't think that china can control bitcoin because the transactions are confirmed by miners and there is a proper code for doing that.
However, I am willing to see some of the replies made on this topic.

[Hammerschmidt]

Just read this:
https://www.wired.com/2016/06/fastest-supercomputer-sunway-taihulight/

They dont "control" bitcoin they have "control" over a lot more than that. So bitcoin is a small fragment of the concern.

It's also impossible to get 100% utility out of any supercomputer on the top 500 list. The overhead required to manage so many processors requires software running on many processors themselves. The "computer" is only "super" if you can give it something massively-parallel to work on. There are many problems that are not well suited for that.

The Chinese are using many slow AMD processors that use less power than Intel. The USA uses faster Intel cores for many of its top 500 entries, and it gets greater UTILITY per supercomputer than China can achieve at present.

It's like China has bigger airplanes, but makes fewer flights with most seats unfilled.

[bravehearth0319]

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?

China obviously cannot control bitcoin, Because if they have a capability to do that, the essence of decentralization of bitcoin will become unusefull. Only China owned the biggest percentage of bitcoin in the entire world. But it doesn't meant they can control the price of Bitcoin, No! it"s not like that.

[saqibmunir]

i think no one know truely know that how controlling the  because  is anonymous currency so no know know that how controling the  and its wrong news that people says china controlling the .

However, if there is a group of people who are having too much , they will certainly have some obvious effects on it, like what the Chinese are doing right now. Most of the , I think it is about 50% of the amount of  exist on this planet, is located in China. Therefore, you can say that they surely control 

i think a huge number of mining of the bitcoin is done in china almost 60 % to 70% and there is also a huge number of investor in china so we can say that china is influencing the bitcoin but we cant say that their government directly is involved in....... bitcoin has huge no of user which belongs to china.....

[davids]

China gives impact on the price of bitcoin. many mining companies and mining power are chinese, it make bitcoin transactions very high in China. china can't controlling bitcoin, bitcoin is controlled by people

[john2231]

i think no one know truely know that how controlling the  because  is anonymous currency so no know know that how controling the  and its wrong news that people says china controlling the .

However, if there is a group of people who are having too much , they will certainly have some obvious effects on it, like what the Chinese are doing right now. Most of the , I think it is about 50% of the amount of  exist on this planet, is located in China. Therefore, you can say that they surely control 

i think a huge number of mining of the bitcoin is done in china almost 60 % to 70% and there is also a huge number of investor in china so we can say that china is influencing the bitcoin but we cant say that their government directly is involved in....... bitcoin has huge no of user which belongs to china.....

I think you have a wrong caculation about miner bitcoin in china.. and i think many people are mining.
Look at the mining pools they are just mined 18% blocks from before and until check this for more info https://www.hobbymining.com/bitcoin-mining-pools/
so i think they can not control bitcoin they are just mine large blocks than the other pools according to thats site.. which is just found in google..

[deisik]

Just read this:
https://www.wired.com/2016/06/fastest-supercomputer-sunway-taihulight/

They dont "control" bitcoin they have "control" over a lot more than that. So bitcoin is a small fragment of the concern.

It's also impossible to get 100% utility out of any supercomputer on the top 500 list. The overhead required to manage so many processors requires software running on many processors themselves. The "computer" is only "super" if you can give it something massively-parallel to work on. There are many problems that are not well suited for that.

The Chinese are using many slow AMD processors that use less power than Intel. The USA uses faster Intel cores for many of its top 500 entries, and it gets greater UTILITY per supercomputer than China can achieve at present

What is greater utility per supercomputer exactly?

I'm more inclined to think you are specifically trying to confuse the issue to make it look like the Chinese supercomputers are somehow inferior to the American ones. The capacity of supercomputers is measured by the Linpack benchmark suite which is the same test suite used in every case. In other words, it is pretty objective test measuring real task performance, and if some supercomputer scores higher in this test, it can be said that it will be faster than the rest of the pack in the majority of tasks that such machines are mostly used for

[Hammerschmidt]

What is greater utility per supercomputer exactly?

I'm more inclined to think you are specifically trying to confuse the issue to make it look like the Chinese supercomputers are somehow inferior to the American ones. The capacity of supercomputers is measured by the Linpack benchmark suite which is the same test suite used in every case. In other words, it is pretty objective test measuring real task performance, and if some supercomputer scores higher in this test, it can be said that it will be faster than the rest of the pack in the majority of tasks that such machines are mostly used for

Utility refers to the harnessing of all available cores.

Let's say China has 1,000 cores and the USA has 500 cores. If China used every core every second of the day for one year straight, it's utility would be 365,000 core-days per year, maximum. With half as many cores, the USA max would be half of that, or 182,500 core-days per year.

Suppose both countries consumed 150,000 core-days of processing in a year. Which country would have the greater utilization?

The USA would since it used a higher percentage of its supercomputers resources.

Most supercomputers have cores that sit idle for weeks at a time. It is very hard to keep them all busy.

[Kemarit]

i think no one know truely know that how controlling the  because  is anonymous currency so no know know that how controling the  and its wrong news that people says china controlling the .

However, if there is a group of people who are having too much , they will certainly have some obvious effects on it, like what the Chinese are doing right now. Most of the , I think it is about 50% of the amount of  exist on this planet, is located in China. Therefore, you can say that they surely control 

i think a huge number of mining of the bitcoin is done in china almost 60 % to 70% and there is also a huge number of investor in china so we can say that china is influencing the bitcoin but we cant say that their government directly is involved in....... bitcoin has huge no of user which belongs to china.....

There's no denying that China has a lot of bitcoin miners, But China does have a huge influence in the price and mining of Bitcoin, The only reason mining is so big in China because of the cheaper renewable energy. There are many other countries in the world that mining Bitcoin and working on blockchain technology as well. But China "may" have influenced the price of Bitcoin in the short run though.

[RoommateAgreement]

the past week has clearly proven that China is not even big enough as those who want to show it as big, say. with the new restrictions from theim central bank and the law the fake volumes have evaporated and now we can slowly see the real volume and the real small power China has when it comes to bitcoin.

[millgates]

I don't think that china can control bitcoin because the transactions are confirmed by miners and there is a proper code for doing that.
However, I am willing to see some of the replies made on this topic.

Chinese people aren't controls all of bitcoin. They only can controls bitcoin that they have. Because they have the most of bitcoin so they can easily influence the price of bitcoin.

[jbreher]

Most supercomputers have cores that sit idle for weeks at a time.

Given the expense of such a resource, that seems unlikely. Source for this claim?

[Jasad]

I don't think that china can control bitcoin because the transactions are confirmed by miners and there is a proper code for doing that.
However, I am willing to see some of the replies made on this topic.

Chinese people aren't controls all of bitcoin. They only can controls bitcoin that they have. Because they have the most of bitcoin so they can easily influence the price of bitcoin.

i guess so , there is no evidence enough to acusse them ,
the chinese market news about trade fee percentage recently mean nothing ,
and considering the fact that china are the most internet user in the world ,
no way they did not know bitcoin and hunt them i ony believe they are the biggest bitcoin holder.

[soul-impact]

I don't think that china can control bitcoin because the transactions are confirmed by miners and there is a proper code for doing that.
However, I am willing to see some of the replies made on this topic.

Chinese people aren't controls all of bitcoin. They only can controls bitcoin that they have. Because they have the most of bitcoin so they can easily influence the price of bitcoin.

Have you ever heard about the attack 51? You should learn more about Bitcoin because there are many mysterious things there and if you do not know about its techniques, you will soon regret. Because of having the large amount of Bitcoin and mining capacity, China can be considered controlling Bitcoin at present

[Fireblade]

I don't think that china can control bitcoin because the transactions are confirmed by miners and there is a proper code for doing that.
However, I am willing to see some of the replies made on this topic.

Chinese people aren't controls all of bitcoin. They only can controls bitcoin that they have. Because they have the most of bitcoin so they can easily influence the price of bitcoin.

controlling bitcoin is not so easy actually bitcoin is not a centralized currency, bitcoin is used in all over the world and in fact now one know that which county have the majority of bitcoin users, therefore it is not so easy to even to influence in price of bitcoin. i think it is wrong to say that bitcoin is controlling y the Chines, my be they have a lot of bitcoin users but we can only call them the support of bitcoin and not the controller of bitcoins.

[shinratensei_]

I don't think that china can control bitcoin because the transactions are confirmed by miners and there is a proper code for doing that.
However, I am willing to see some of the replies made on this topic.

Chinese people aren't controls all of bitcoin. They only can controls bitcoin that they have. Because they have the most of bitcoin so they can easily influence the price of bitcoin.

Have you ever heard about the attack 51? You should learn more about Bitcoin because there are many mysterious things there and if you do not know about its techniques, you will soon regret. Because of having the large amount of Bitcoin and mining capacity, China can be considered controlling Bitcoin at present

It might have happened but in this time it's not. The general concern about the 51% attack, although if that will attacking the node and it's mean can be reverse the transaction.

but in this time the real thing if the china have an big influence for bitcoin and other altcoin like LTC.

[st0nefish]

I do not think China controls direct bitcoins. Bitcoin is not controlled by anyone because of its decentralized structure. I think the indirect way is China's influence on bitcoin. I think that especially the news that comes out in it causes changes in the price of bitcoin.

[canhchuacaro1]

Bitcoin is offering a decentralisation system for which there is no reason for anyone could have the control over it. Though its a fact all the other big mining institutions are in China but, it's also a fact that there are thousands of thousands CPU are occupied by which BTC also mining from all over the world and helping blockchain technology to work smoothly.
I a believe that China can't control bitcoin. Even though they have a largest farm all over the world. China can only be one of the biggest investors who adopted the system of bitcoin. meaning they're just one of the member in the community investors. I don't think they control the bitcoin because there has been many other exchanges rather in china which have a great volume of bitcoin too but china is leading in this field and has the power to manipulate the price of bitcoin.

[Gromozeka!]

I do not think China controls direct bitcoins. Bitcoin is not controlled by anyone because of its decentralized structure. I think the indirect way is China's influence on bitcoin. I think that especially the news that comes out in it causes changes in the price of bitcoin.

True, there is no control but the main impact on the Bitcoin has just China. The latest example is the verification of the Chinese stock exchanges, the price at the time dropped significantly.