Is CHINA CONTROLLING Bitcoin?

[KingScorpio]

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 cant controll bitcoin, chinese communist could, and sooner or later bitcoin will be controlled by a miner association,

[camric09]

China is the world's largest bitcoin holder, they believe in cryptocurrency, except ICO
the Chinese government is very good at exploiting opportunities, so they are easier to control the market
and in my opinion, China is in control of the market and I am very happy if I can speak Chinese because my friends from China

You are right, I also observed about this and many already told that china investors are the biggest holder of bitcoin. So I agree that china is controlling the bitcoin now. However some holders from different countries also contributed with the control of the price.

[niktuneable]

If you ask me:  Can Chine control Bitcoin? I would answer a yes, 100% China has the hashing power to control Bitcoin.
What I know is that there is not evidence of China doing it, maybe it will happen on future, maybe no. Also, China is already making huge money with mining farms, I think they are happy with it, at least I would be.

[RXKING]

they have a huge impact on both marked and the price China has well over half the trading volume. And most of the mining. They could certainly make some bumps in the road but they wont do anything that will negatively impact the price.They own too much.Just because china controls most of the mining, it does not have control over bitcoin. They know as well as we do, that if they stop mining, then others will pick up the slack and they will be out all the money for the equipment they have put out

[Royal Jelly]

If you say china directly control the bitcoin, of course not because basically bitcoin can not be controlled by anyone. But perhaps with the biggest market in china, it will have an impact on rising and falling bitcoin prices. It just seems to have an impact on the market situation, not on the bitcoin system.

[aladlanie04]

china is big population in the world obviously people is interested in trading crypto currencies  on average note imagine 10%-15% of the people in china start to trade on exchange  it makes huge impact on bitcoin or alt's coin  10% to 15% is generally like compared to small country like romania, iceland population . china is also fast growing nation in economy wide  if new money flows on bitcoin , altcoin,  the market cap varies more  reach trillion so easily because of fresh money coming into the cryptocurrencies . i am sure once regulations is done or correct  then massive results will come on cryptocurrency especially bitcoin .

[jaaeeeyyyy]

China is the world's largest bitcoin holder, they believe in cryptocurrency, except ICO
the Chinese government is very good at exploiting opportunities, so they are easier to control the market
and in my opinion, China is in control of the market and I am very happy if I can speak Chinese because my friends from China

You are right, I also observed about this and many already told that china investors are the biggest holder of bitcoin. So I agree that china is controlling the bitcoin now. However some holders from different countries also contributed with the control of the price.

There is no way for someone to take hold of bitcoin's high power, unless they are investors as well. Just because China holds most of the mining institutions active in the world doesn't mean that bitcoin is being controlled by the said country. Furthermore, there are no valid evidences to support your statement so this is discarded.

[mahilchii]

Nope, no one is controlling Bitcoin and there are talks that whales control it but I don't think that is also a true fact. I believe demand and supply with the news spread around with people is the factor for Bitcoins growth or price down trend. Really no one or no country can control Bitcoin because Bitcoin is universal and digital currency.

[QuestionAuthority]

yep, China is the country who hold the majority of bitcoin available world wide! this firs big farms were born in China and USA!
so I'm not surprised to know that Chinese can control the price of Bitcoin!
China maybe is also going to rule the world in only a decade...

You may be right. The Chinese yuan is soon going to become the worlds next reserve currency. China FTW!

[Badik]

I think its no beacause they banning bitcoin to thier country.There is other speculation with that the first one are exchanges they controlling bitcoin if they combined and talks each other the second one is those rich people in the world i think.

[qwertyqwerty]

Obviously not, because bitcoin is created without anyone being able to control it. It's just that China has the largest market, so bitcoin value will be affected with the market in accordance with the market situation, and that's normal.

[jbreher]

yep, China is the country who hold the majority of bitcoin available world wide! this firs big farms were born in China and USA!
so I'm not surprised to know that Chinese can control the price of Bitcoin!
China maybe is also going to rule the world in only a decade...

You may be right. The Chinese yuan is soon going to become the worlds next reserve currency. China FTW!

Doubtful.

It is obvious that the IMF is grooming the Special Drawing Right (SDR) as the new world reserve currency. There is also a quite compelling argument that Chinas massive purchases of Gold is in order to pull their gold_reserve/GDP ratio in line with that of other major currencies, such that the Yuan can be included in the basket that makes up the SDR. The G7/G20 act like the insiders are fully invested in these plans.

Will crypto waylay their plans? Probably not in the near term. We can hope for the longer term. Perhaps.

[Vart4varta]

In China, there are four mining companies that control more than 50% of the bitcoin network. How do we know that China will not interfere, and how many countries will want to use the currency that it controls? It will not be easy

[anything9ce]

this fixation on China and them controlling bitcoin is the most idiotic thing that exists in the bitcoin world and we have seen on numerous occasions this is only a promotion to spread some news they need like in the event that they need cost pumped they say China is purchasing and on the off chance that they need a dump they say China government is restricting bitcoin. both time it is horse crap.

[syarifudin]

no one controls Bitcoin, just as no one has email operation technology. Bitcoin is controlled by all its users worldwide. Developers can indeed improve Bitcoin software, but they can not enforce changes in the Bitcoin protocol because all users are free to choose the software and version they want to use.

[Sandus_Cryptolover]

Not a single person has control over Bitcoin. It operates based on the market trend (demand and supply or buy and sell). China only have more bitcoin mining sites, about 4 or thereabout, with comparison to countries.

[kraken_Mik]

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 believe that bitcoin is controlled by us bankers. I doubt China is involved in this.

[lifetimebitcoins]

even though miners are largely in China i won't think China is controlling bitcoin there were times china controlling bitcoin but now the times change bitcoin is widespread and bitcoin is nt been controlled by some region or group it is decentralised

[decoder88]

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?

In my peripheral aspects, China banned Bitcoin in their country so I think they can’t rule Bitcoin because their security of their country are strongly strict mostly in using social media or other network sites.

[ribowo76]

Is that possible? I thought it would be difficult to be able to control the bitcoin, because of its nature. If possible, it may require a lot of resources. Or maybe there is another explanation?