Is CHINA CONTROLLING Bitcoin?

[DragonETH]

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 dont think this is really true, many are speculative of whose really the dominant country when it comes to cryptocurrency but i dont think china is the one.

computing power is constantly growing, bitcoin will be able to control only the one who will have enough power to support the computing. China is not the most energy-developed country.

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[AnatoleWright354]

Perhaps the network is not as decentralized as many think,chaina hates bitcoin but still theyare mining it and that also in a greate scale.its quite confusing to me

[MiukoOk]

As far as I read, some of China's major trading flocks are shifting to other countries such as Japan. Most recently, two floors have announced the suspension of Bitcoin indefinitely. That has had a dramatic impact on Bitcoin prices around the world and has led to some confusion in the relationship between China and Bitcoin or other Cryptocurrency.

[gvnsrbtc]

Bitcoin is not controlled by China. One reason peoples say this is because there is a lot of miners there and bitcoin user that keeping big amount of bitcoin.
So, if the government in China make a policy about bitcoin or blockchain technology, it will give a massive impact to bitcoin market.

[deepakg2m]

No doubt that Chinese have a big market than most of us here, but still they cannot control bitcoins as there are many whales from other countries who can still stabilize the situations that might occur due to these Chinese.

Agreed . China is not able to control BITCOIN because many other countries are also there as a great competition for China. BITCOIN is not a currency that someone can control and even not any other cryptocurrency is so.

[Ruth Diass]

The Chinese government has been implementing a ban on cryptocurrency transactions, stricter control over the online platforms and mobile applications used for the transaction. In addition to the ban on the cryptocurrency platform, the next target of the Chinese government is the domestic platform that allows centralized trading without clearly delineating the difference between these platforms.

[jeepuerit]

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 may be the richest country, but we still can not say that they can control bitcoin, because many countries also use bitcoin and many wealthy or investors or different groups of countries use bitcoin.

[yuni52]

if china controls bitcoin I think the answer is yes, because in 2016 due to demand from the Chinese market, yuan devaluation. "Bitcoin is a very speculative asset and should Chinese citizens who are looking for a place to keep their asset ownership value can turn to USD or EUR, a much more stable currency." And now china forbids bitcoin and finally the price falls off I think china is very affect the development of bitcoin

[odakorlina]

Bitcoin network was designed to be decentralized, meaning that no one could control it, or touch it. Although there are a lot of miners from China but it doesn't mean they control it. More countries have largest bitcoin holders and we can't point out the exact reasons why price is going up and down.

[joliepaul]

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. Bitcoin is a decentralized currency and no one can control it. it means nothing that china is big in mining, bitcoin is still decentralized.

[karim30]

Actually I have heard about China. They ban and control a lot of things. For example, social networking in their country, facebook and twitter are blocked to force weibo social networking, and until now I have learned that they control bitcoin. But as far as I know in China, there is a huge bitcoin mining company, bitman, so what should they do?

[feinter]

Actually I have heard about China. They ban and control a lot of things. For example, social networking in their country, facebook and twitter are blocked to force weibo social networking, and until now I have learned that they control bitcoin. But as far as I know in China, there is a huge bitcoin mining company, bitman, so what should they do?

China has advantages as far as bitcoin is concerned.China is home to some of the biggest cryptocurrency exchanges for trading bitcoin, such as Binance. These exchanges clock high trading volumes and attract international retail investors due to their cheap fees.

[kitwalker]

Actually i'm start thinking about that since yesterday, because yesterday when the price of bitcoin decrease, China bitcoin market like Huobi is the first one that make bitcoin's price fall down. Because of that i'm thinking that China have a big affect into bitcoin and the price too. I don't know is it right or not, but it's my opinion.

[Filthy1]

YES they do and its a rather large percentage

[joshua0502]

We can't say it is imposibble that china can control the bitcoin because we all know that china had so many individual minning that comes from them and can accomodate a lot of bitcoin but i dont know how much exactly it is.

[datnguyen0912]

I think it is impossible for the future they will have to rethink because it is a future replacement currency

[handsomes]

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 think china can not controlling bitcoin and impossible to control it the china is a big country and big percentage if the bitcoin ban in china the value of bitcoin is down to low.

[Nabobs Robi]

The chinamen has a strong influence in Bitcoin since the are the kings of mining due their cheap as hell electricity, they also are in one of the biggest volume exchanges in the game (huobi) so yes its very reasonable that they have a strong impact on Bitcoin economy, but saying "controlling" is simply too strong of a word to claim. the concept that bitcoin is borderless seems to be beyond most in this threads comprehension Sad.

[Randolf007]

many news say a country has a lot to store and control bitcoin, i also read, japan also control bitcoin.
so a lot of baseless news is scattered now, because of the decrease in bitcoin that is happening now.

[Louise0910]

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?

No china is not controlling bitcoin/cryptocurrency beside China is now ban bitcoin and cryptocurrency no one and nobody can control or ruled bitcoin because of its nature of being decentralized distributed maybe China is a great influencer but never be a ruler.