Is CHINA CONTROLLING Bitcoin?

[Nathan047]

Because if 51% of the miners agree, they can do just about anything they want, including creating extra coins

Yeah, a 51% attacker could do that.

or moving coins from any wallet to any other wallet without private keys.

No. Absolutely not. A 51% attacker (hell, a 100% attacker) has no power to move coins without the private keys.

Are you sure, I guess was wrong about the moving coins without the private keys, although creating new coins is enough itself to kill bitcoin.

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[poloniexwhale]

China dumped bitcoin to 900 usd, and this time western guys pumped bitcoin up. I have to say China is not controlling bitcoin, only wenstern guys control it.

[lurker10]

https://www.reddit.com/r/btc/comments/5uq8f4/bitcoin_unlimited_mined_271_of_the_last_144_blocks/

[wizmo]

No china isn't controlling bitcoins. Nobody is controlling it only you people with lot's of bitcoins can somewhat change price.

[Eodguy149]

I don't think that they are controlling it, it could definitely survive without them. That being said I think that most people think that they control a significant amount of the network which is a little concerning and brings up the issue of centralization. That being said, I have thought about this issue a lot and it's hard to imagine coming up with some kind of crypto that didn't eventually become centralized. Countries will specialize in whatever they have a competitive advantage in because they can remain profitable longer than other countries and drive them out of the market. If it wasn't China it would be whatever country had cheaper resources, labor, etc.

[Meliodasama]

huobi is biggest marketplace and the high bid price for bitcoin
i think china not controlling , but many investor come from china
then the larget bitcoin community born form china

[abel1337]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

[bncbnc]

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 always has a dominance over bitcoin. A large majority of the mine farms are in-house. The decisions made by the Chinese government directly affect the bitcoin.
Bitcoin structure can not be controlled. But we can say that China controls the bitcoin from the indirect route.

yes there is no doubt about that bitcoin users and minors are more in China as compare to other countries but i think still not a single country have control over bitcoin. bitcoin is a decentralize anonymous currency and therefore it is not under the control of a single country.

[rafi035]

No china isn't controlling bitcoins. Nobody is controlling it only you people with lot's of bitcoins can somewhat change price.

Correct . even though in countries china development bitcoin bitcoin very fast but can not be controlled by anyone. one no one could predict the bitcoin

[The_prodigy]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

[DevelopFI]

Seems to be impossible to know until "they" actually make a move. We saw how unsuccessful their recent dump was but we don't even know how united/divided they are.

[Sr.Urbanist]

No china isn't controlling bitcoins. Nobody is controlling it only you people with lot's of bitcoins can somewhat change price.

Correct . even though in countries china development bitcoin bitcoin very fast but can not be controlled by anyone. one no one could predict the bitcoin

China manipulates its currency and has since the Clinton years.  They keep it artificially low by printing money and building empty buildings (or even cities) and other ways others can explain much better than myself. This can have a ripple effect on the price because of the rate of adoption in China and where people see the greater store.  If the CYN begins to rise, then large holders will probably convert BTC to CYN.

Having said that ... their Central Bank has been having secret talks and two or three of their larger exchanges have stopped withdrawls. Their government plays a large role in their economy and China play a large role on the global stage.  Bitcoin's nature makes it highly fungable through institutional borders. Their quick adoption of BTC leads the West to get confused at the way their government operates.

In either of these two cases, I believe, China's governmental policies and processes can cause a scare.     

[agamasrori]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.

[kanayaTabitha]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.

if bitcoin in control by china I think there will be an adverse impact, bitcoin created it actually has a purpose no one of any country in the world as well as financial institutions can dominate or control the bitcoin

[Ruhtilg]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.

if bitcoin in control by china I think there will be an adverse impact, bitcoin created it actually has a purpose no one of any country in the world as well as financial institutions can dominate or control the bitcoin

The Chinese are not controlling the bitcoin. The trade volume is just 30% of total volume now.

[youdacapt]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.

if bitcoin in control by china I think there will be an adverse impact, bitcoin created it actually has a purpose no one of any country in the world as well as financial institutions can dominate or control the bitcoin

The Chinese are not controlling the bitcoin. The trade volume is just 30% of total volume now.

30% is a big number as a percentage of total shares, and that means China has a role to affect price significantly. No country has a bitcoin trading volume of more than 50%.

America has great influence to control European market, and China is driving bitcoin in Asia. This is just the price game. Fact that China market tend to have more volume for lowest price because mostly come from there. Even China government began to intervene, because bitcoin position is slowly changing demand for yuan.

[bitbob82]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.

if bitcoin in control by china I think there will be an adverse impact, bitcoin created it actually has a purpose no one of any country in the world as well as financial institutions can dominate or control the bitcoin

yes bitcoin is not under the control of anyone and hope that bitcoin is always remain as decentralize currency and will continue its present position forever and i think that is the reason that bitcoin is still the number one currency of the world.

[DomainMagnate]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.

Besides China, India is also playing a role in recent price hike of bitcoin.If you check the volume of Indian bitcoin exchanges you will notice a sharp increase following demonetization by Government of India.

[Roboabhishek]

China has the highest profit based on what they are mining. I think that will be a good evidence that they can control the bitcoin, though not only bitcoin but its price also.

It's true that china hold a lot of mining power plus they have electricity benefits, So it dosn't means that they can control bitcoin.
Bitcoin is well encrypted currency no one can access you wallet without your permission from that i mean not even the gov .
Then it clearly states that Chain cannot control it.

[useless4]

Many of us here thinks that China is not controlling bitcoin for many different reasons , I think in myself that I agree that China isn't controlling it , It just happens that China has the Big number of miners and I think bitcoin can survive with out China.

50 percent of people here in forum are believing that china is controling the bitcoin price it just because of the reason of fake volume exchange that makes the bitcoin price boost into increasing price. China also had the most users who uses bitcoin and they starting to create good technology that can change the world with bitcoin.

the fact that the highest number of transactions was using chinese yuan. they have the biggest bitcoin minning in the world. they can control the price of bitcoin by influencing the supply.

they don't have the total control on bitcoins for sure because it is impossible in my opinion, but they have some more power than other countries because of the biggest use of bitcoin in the world. Though with bitcoin everyone has some control on it maybe just one people have more power and others less, the most important thing is that governments have no control over it, so it can be decentralized.