Is CHINA CONTROLLING Bitcoin?

[emezh10]

Maybe, If the 50% of the total supply of bitcoin is in China's people or government because I think they can control the market price of it by applying the law of supply and demand. Because of that they can pump and dump the market price of bitcoin. Because if they sell their bitcoin the price is will be dump and when they buy the bitcoin price will be pump as simple as that. But I think no because they need a unity to do that a very large amount of money. So that is beyond impossible so for me, No.

[michnelli6]

Almost. Major pools and miners are china.

If you look carefully there are huge miners and pool outside China too and i really do not accept that a Country is controlling the price of bitcoin or influencing bitcoin ,if you really invest your time and money into bitcoin and if the share is larger than the rest then you can really control it.

I think it is just a silly thing which I have heard today. I don’t think any country in the world really control a global currency or any other currency. Yeah it has a influence on the bitcoin as a great number of user which is directly involve in mining but that’s not mean that it is controlling it.

[Mario274]

Technology Blockchain dispensation so that no one can control. Including China can not do that. We are in control of its assets. So I do not believe that China has an impact on Bitcoin.

[BitcoinPanther]

Technology Blockchain dispensation so that no one can control. Including China can not do that. We are in control of its assets. So I do not believe that China has an impact on Bitcoin.

I agree.  It is just a false belief that China controls Bitcoin.  The fact had been stated that these mining were operating in China but not all the owner are  Chinese.  PBOC influence is now at minimal since Traders developed some resistant to it and used to the tactics it use whenever bitcoin reaches its peak.

[shinratensei_]

Technology Blockchain dispensation so that no one can control. Including China can not do that. We are in control of its assets. So I do not believe that China has an impact on Bitcoin.

You must read some of the interesting article about the PBOC's audit and i think you will learn a lot from there.

[NEWGOODOUBLE]

I think that China has an impact on Bitcoin. But no control. As we know a large number of Bitcoins mined by Chinese miner and it means that we can not neglect the fact that.
And we notice that the negative news from China affect the price of Bitcoin.

I agree with you, who can control the bitcoin is the holder itself. china might reasonably affect because most bitcoin is in their hands. maybe if china sell all of their bitcoin, then the price of bitcoin will be down for a while. but there are some countries that are trying to beat the dominance of china against bitcoin.

yeah it depends on the users themselves. china has influenced the bitcoin because they have a large enough bitcoin users. true, there are many people who joined the bitcoin in various countries and this will reduce the dominance of china

[tetrisbattle]

yes it is
china has more people than the other country

[SHAWN-MIDWAYS]

If China is in fact controlling bitcoin indirectly, I don't have a problem with it as long as they are not trying to destroy bitcoin or anything like that since at some point their influence is going to diminish as bitcoin is adopted by more and more people.

With their large user base they did control bitcoin at one point but things just went into equilibrium after PBOC intervened but imo I think the only indirect way china is controlling bitcoin is though their miners.

[kidoseagle0312]

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?

I'm not exactly so sure if China is aiming that speculation by the other people here, and for a couple of months most coins in the ICO was came from China country. It's already been made that they get the title of owning the biggest average of mining farm in the whole world, together with the percentage of owning the bitcoin average all over the world in bitcoin industry.

[pooya87]

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?

I'm not exactly so sure if China is aiming that speculation by the other people here, and for a couple of months most coins in the ICO was came from China country. It's already been made that they get the title of owning the biggest average of mining farm in the whole world, together with the percentage of owning the bitcoin average all over the world in bitcoin industry.

first of all ICO is for scam altcoins that want to make some quick money from their shitcoin and get rich quick with copy pasting code of some other altcoin. secondly you have no way of knowing where the ICO funds come from, it is always anonymous.
and finally that has nothing to do with bitcoin or even the topic at hand.

[Pattart]

China is the biggest bitcoin mining in the world for right now, and the largest factors to infect about the price is China. If the exchanger market from China down, the price is also down. So I believe that China can controlling bitcoin price and stock.

Yes true, china strongly influenced the bitcoin. When the Chinese new year, many of user sell bitcoin so the price drop from $1.160 to $800. And after the new year, they bought bitcoin again so the prices look stable and continues to rise.

but i do not think that they can influence the price of bitcoin any more. because bitcoin is now available everywhere and the uses of bitcoin are also increasing continuously therefore i do not think that bitcoin can be manipulate any more.

bitcoin users are distributed throughout the world so bitcoin users not only in China alone. so I think bitcoin users of china will not really give a great effect on the price of bitcoin

[1Referee]

bitcoin users are distributed throughout the world so bitcoin users not only in China alone. so I think bitcoin users of china will not really give a great effect on the price of bitcoin

Bitcoin users in China are of no added value to Bitcoin as they don't really contribute to anything. Such a massive country with more than 1.3 billion citizens, and the number of nodes there is just peanuts. Chinese are mostly only interested in Bitcoin as investment rather than actual usage of Bitcoin as tool. Also, now the PBOC has put serious regulations to work, it shows that the exchanges there are in fact not bigger than western exchanges. What does China at this point still have? Cheap electricity that attracts investors from all around the world to set up massive farms there. Take cheap electricity away, and bemmm, gone is China.

[vnvizow]

bitcoin users are distributed throughout the world so bitcoin users not only in China alone. so I think bitcoin users of china will not really give a great effect on the price of bitcoin

Bitcoin users in China are of no added value to Bitcoin as they don't really contribute to anything. Such a massive country with more than 1.3 billion citizens, and the number of nodes there is just peanuts. Chinese are mostly only interested in Bitcoin as investment rather than actual usage of Bitcoin as tool. Also, now the PBOC has put serious regulations to work, it shows that the exchanges there are in fact not bigger than western exchanges. What does China at this point still have? Cheap electricity that attracts investors from all around the world to set up massive farms there. Take cheap electricity away, and bemmm, gone is China.

Still a sizeable chunk of the community though, especially in the total mining power output. The cheap electricity is cause those farms have negotiated deals with the grid providers, government regulations will be the only thing that can kill it

[deisik]

bitcoin users are distributed throughout the world so bitcoin users not only in China alone. so I think bitcoin users of china will not really give a great effect on the price of bitcoin

Bitcoin users in China are of no added value to Bitcoin as they don't really contribute to anything. Such a massive country with more than 1.3 billion citizens, and the number of nodes there is just peanuts. Chinese are mostly only interested in Bitcoin as investment rather than actual usage of Bitcoin as tool. Also, now the PBOC has put serious regulations to work, it shows that the exchanges there are in fact not bigger than western exchanges. What does China at this point still have? Cheap electricity that attracts investors from all around the world to set up massive farms there. Take cheap electricity away, and bemmm, gone is China

Even now when the Chinese exchanges proved to be ultimately irrelevant, we still shouldn't fall into the other extremity and completely discard China and their influence in regard to Bitcoin. Assuming that we could take cheap electricity away from China is like assuming that we could send every Chinese to Mars. Besides, it is not only cheap electricity alone, they are also the producers of the mining equipment as such. That basically means that they have another overwhelming edge apart from just electricity, i.e. they get access to the top-notch and cutting-edge hardware and technology before anyone else in the world. Obviously, they exploit this advantage in full

And that cannot be written off either

[1Referee]

government regulations will be the only thing that can kill it

Regulations concerning exchanges in China are just a first step. I wouldn't be surprised if the Chinese government at some point wants to dismantle Bitcoin even to such a level, that miners will be heavily affected in one way or another. Literally anything can be expected from a government as paranoid as the Chinese.

Besides, it is not only cheap electricity alone, they are also the producers of the mining equipment as such. That basically means that they have another overwhelming edge apart from just electricity, i.e. they get access to the top-notch and cutting-edge hardware and technology before anyone else in the world. Obviously, they exploit this advantage in full

And that cannot be written off either

Hardware is being manufactured in China due to the lower costs, but that doesn't mean every manufacturer of mining gear is in Chinese hands. Does it give them some sort of an advantage? Perhaps, but Chinese influence in Bitcoin is diminishing to eventually such a level, that other than their cost-friendly-climate, there is not much that gives them any sort of significance.

[bawga]

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?

Why "No" win? Let accept most of miners and pools are from China. New generated bitcoin they get. Transaction fees they get. Network is under control.

[mmo_online_1981]

All BTC users are controlling BTC, but prices may be in China

[mamaita]

I guess not as many users and mining bitcoin bitcoin in china and large, continue to claim that bitcoin is already under control, did not bitcoin sathosi Nakamoto has said that it could not be controlled and controlled by anybody

[The_Dark_Knight]

yes it is
china has more people than the other country

The number of people is irrelevant what it is important is the number of users of bitcoins, the nodes, the miners, the exchanges and to a certain point the posture of the Chinese government towards bitcoin and its technology.

[AliceWonderMiscreations]

Every day, a man from China comes into my house and monitors everything I do with bitcoin.

However, it has been rather beneficial, because when I take him to the local Chinese restaurant for lunch - being a native speaker and all - the service is better.