Is CHINA CONTROLLING Bitcoin?

[josephpogi]

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 do not know, I know, China is the largest country bitcoin users, so it's possible. You may also be able to use bitcoin there and probably very many companies that pay you bitcoin in china, it could make Chinese control bitcoin .

[Tiktik]

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?

I think no one can control bitcoin but china are well known for the most largest bitcoin miners and I know bitcoin is totally banned in china and I think it is impossible to control bitcoin but there are many big players can manipulate the price.

[hoangyoyo]

Yes, china is biggest bitcoin miner .

[Otap2018]

I do not think bitcoin is managed by any government. The mines are located in China because the cost of mining is cheaper than elsewhere and it can be moved anywhere.

[gohan21]

China has the richest in the world and I think they have the highest investment and bank investment but I think I can not accept china bitcoin so they can not afford the price of bitcoin the whole time I know it depends on the investors of crypto currencies.

[JakeJM0st]

bitcoin be controlled by all users.There may be a lot of Chinese who own and mine bitcoins but they won't be able to fully control bitcoin because there are a lot of other owners and users around the world.

[vonnyaries]

in 2017 i know that this news is good that china is controlling bitcoin but i dont know about it right now, is china still controll the bitcoin? if yes i think we should care about bitcoin because every time china can makes the price down like last time, we can see that the price of bitcoin suddenly going down without any reason

[basicbasiccha]

China has more than 50% of all miners located there so they can influence a bit the price because of that but they can't go any further. It means nothing that china is big in mining, bitcoin is still decentralized.

[Sofak]

China's stock exchange reported 98% of global volume. It shows great dominance by the Chinese market, right ??
The counterfeit is unlike the rest of the world, the chinse exchange is unique because they do not charge a trade, but they make money from withdrawal fees from exchange, this cost decreases as your trading volume increases so this gives incentives to traders to increase their trading volume from buying & sell from their own at a zero cost. be smart and not greedy! Like the EU & US exchanges where you need a stack of capital to minimize trade costs

[liseff3]

Do you think that China is controlling/ruling bitcoin yes or no?

I think, Yes.

Although bitcoins are decentralized, it is not insignificant, that they are likely to play a role in controlling bitcoin, both in price and circulation. I don't at all accuse the Chinese government, but its miners and developers (the Society). I'm sure many of them are involved in the "Big Whale" colonies.

Because in previous months the Chinese government banned the use of virtual money including bitcoin to be used in his country. However trading virtual currency Huobi and OKCoin getting was growing very rapidly.

[O9NpJ9ld1opS]

China probably is controlling the market. There is no doubt that China is the biggest market for cryptocurrencies. A huge portion of bitcoin mining is done in China, by big giants. They can easily control the market. Cryptos are still in its early stages I believe. Regulations are a good way to stop these manipulations.

[LionelRobinson]

I don't think this is how Bitcoin's price is being controlled. china hates bitcoin but still theyare mining it and that also in a greate scale.its quite confusing to me

[mmo4me.2016]

Bitcoin is not controlled by China, but because so many investors are from China, the volatility depends heavily on Chinese investors!
Digital money is the development of currency, it takes more time to develop.

[MudahDanHemat]

If I think again, it is also true that China indirectly controls the movement of bitcoin prices, because whatever is done by the largest bitcoin market in China will greatly affect the overall surge or decrease in bitcoin

[DragonETH]

Bitcoin is not controlled by China, but because so many investors are from China, the volatility depends heavily on Chinese investors!
Digital money is the development of currency, it takes more time to develop.

what is meant by control? if this is a concern of 51 %, then Yes China is one of the strongest hardware manufacturers and with a very branched structure of bitcoin pools. and if you take wallets where bitcoins are stored, most of their owners live in the US.

[Ayasena]

"It should have an algorithm that allows mining easily all over the world by anyone, not mega mining farms."True, I don't even bother to mine BTC, not worth the hassle :/ Only if it was easiler.
Im pretty new to BTC so I don't really have a clue whats going on but would be gutted to see the BTC I do have become worth next to nothing.

[HanaTenun]

If I think again, it is also true that China indirectly controls the movement of bitcoin prices, because whatever is done by the largest bitcoin market in China will greatly affect the overall surge or decrease in bitcoin

if the bitcoin holders the majority of chinese then it could be controlled by china. but all depend on the market, because in the market is not chinese people only. chances are they did come with big capital then they can control the bitcoin market.

[DoublerHunter]

If I think again, it is also true that China indirectly controls the movement of bitcoin prices, because whatever is done by the largest bitcoin market in China will greatly affect the overall surge or decrease in bitcoin

if the bitcoin holders the majority of chinese then it could be controlled by china. but all depend on the market, because in the market is not chinese people only. chances are they did come with big capital then they can control the bitcoin market.

China already banned bitcoin exchanges and probably the overall cryptocurrency in their country is now banned so i think that there is no way that we should worry about the manipulation because it is not possible right now and the market of cryptocurrencies are now more stabilize compare than before because there is no flash dump or pump that is happening especially in the top cryptocurrencies.

[Fappanu]

I have heard a lot of news that a large percentage of bitcoins are in China. So I believe the price of bitcoins really manipulates. Hopefully this will come back and the natural increase in the price of bitcoins. For all of us that holders have a profit and those who lost their previous crashes in December 2017 will recover their losses.

[babycute123]

maybe, because the amount of bitcoin Chinese people are using is huge. It can completely affect the price of bitcoin