china will no longer able to control bitcoin market???

[olubams]

Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising.

Even now, I have a feeling that the influence any thing that comes from China whether positive or negative is having on bitcoin is gradually reducing because the news of investigating exchange sites and even suspension of withdrawal of bitcoin on some exchange sites is not really having any effect on price. But this will be finalised by the time we have alot of people coming that will not only surpress from China but equally from other parts of the world...

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[Xester]

Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising.

China isn't controlling the price of BTC!
the miners from china might do it!

Other exchanges can't keep the price rising!

Because the price is made by humans that want to buy and humans that want to sell.

It's a matter of demand and offer!

in my opinion some BTC miners stopped selling their BTC the price started to rise, everyone else stopped selling and the price rise even more!

It is not the miners that are controlling the price of bitcoin before but the Chinese Exchangers. The Chinese exchangers are creating fake volumes and are manipulating the bitcoin market thus creating a sudden volatility in wide margin. Due to this, bubbles in the bitcoin market appeared but thanks to PBOC this cheating activities had stopped.

[kidoseagle0312]

Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising.

That's big good news to all bitcoin enthusiast here including myself of course. That's why China as I noticed it became so silent a couple of weeks past. well this is only for my observation and assessment. And from the very start China in real can't control the price value of bitcoin because of its decentralization.

[deisik]

Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising

China is no longer relevant

Not that it was relevant before but many people (me included) somehow believed that it had been the case. It was thought that Chinese exchanges with their huge volumes had been setting price reference points for other Bitcoin exchanges out there. The recent actions of the PBoC have quickly debunked these myths and eliminated such illusions or beliefs if there were any. I suspect that the Central bank of China itself didn't expect Bitcoin to be as resilient and robust as it turned out to be

[buharikx31]

Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising

China is no longer relevant

Not that it was relevant before but many people (me included) somehow believed that it had been the case. It was thought that Chinese exchanges with their huge volumes had been setting price reference points for other Bitcoin exchanges out there. The actions of the PBoC have quickly debunked these myths and eliminated such illusions or beliefs if there were any. I suspect that the Central bank of China itself didn't expect Bitcoin to be as resilient and robust as it turned out to be

I think it's not only controled by China markets rules, but other people who trade this cryptocurrency also involved to change the price of it. And we don't know the % value of countries who mostly or less make this value

[layoutph]

Just wondering what makes china the mining capital of the world? Because they can make low class and cheap miners?

[Esphere.in]

Just wondering what makes china the mining capital of the world? Because they can make low class and cheap miners?

The answer to this is simple,they have invested a lot of money into bitcoin than the rest of the world and so is the reason they are the mining capital of the world and the main manufacturer is based in China and they are really competitive and so these are the main reason .

[equator]

Just wondering what makes china the mining capital of the world? Because they can make low class and cheap miners?

The answer to this is simple,they have invested a lot of money into bitcoin than the rest of the world and so is the reason they are the mining capital of the world and the main manufacturer is based in China and they are really competitive and so these are the main reason .

What you are telling is wrong, China becomes mining capital due to low Electricity rates which is the main reason to cut the cost expenses to mine it but now as china government are taking strict steps so it will become more problem for everyone including miners as now they have to show full details about mining profit and loss.

[iv4n]

Just wondering what makes china the mining capital of the world? Because they can make low class and cheap miners?

The answer to this is simple,they have invested a lot of money into bitcoin than the rest of the world and so is the reason they are the mining capital of the world and the main manufacturer is based in China and they are really competitive and so these are the main reason .

About first comment I think that is obvious that China have good conditions and some of the Chinese used that to make good profit with bitcoins. That is connected with second comment because of good conditions there is many early adopters from there, combined with current number of miners they have a strong position in bitcoin world. No one control bitcoin market, to be clear about it, but there is strong groups that can move the market in ways they desire. Chinese are not united, China is a big country and I`m sure there is many different groups there, with different agendas, depending from their plans and founds they preform actions on bitcoin market.

[Ayers]

Just wondering what makes china the mining capital of the world? Because they can make low class and cheap miners?

yes and they have very cheap electricity which is very good for mining, and ideal zone to build their huge farm you need proper cooling and infrastructure to build a farm you can't do that everywhere, they sell mienrs for $2k each for bitcoin, but i suspect they can produce them for $500 or lower, that is one hell of a revenue

[deisik]

Just wondering what makes china the mining capital of the world? Because they can make low class and cheap miners?

I certainly wouldn't call their miners as low class or cheap

Apart from cheap electricity (as was just said above), they have first-hand access to the state of the art miners which can be by no means called low class (they can hardly be called cheap either). It is the exact opposite, and it is other countries (maybe, excluding the US, I don't really know) which have to buy mining equipment from the Chinese manufacturers. Quite naturally, the Chinese miners have an advantage in this respect, even if only through being closer to mining equipment producers than the rest of the world. Personally, I think it is more than just that, i.e. they are the first to use the top-notch miners and are just skimming the cream before anyone else gets access to these miners. It is more like the rest of the world which is using second grade miners

[joshy23]

China's control of the bitcoin market if you believe there is one has been greatly reduce. It is said that, China is calling the shots in bitcoin. When they sneeze, the market catches a cold.” The bitcoin markets, traditionally dominated by trade in the bitcoin-US dollar currency pair, was quickly being taken over by volume from bitcoin-yuan trading. But since the PBOC steps in and said that China's bitcoin exchanges need strict supervision, China's control of bitcoin market or trading ceases to exist.

[DrVaribo]

They can not control the bitcoin. Strongly to harm can, to supervise - is not present. The price is set by users increasing or decreasing the number of operations with crypto currency.

[Mometaskers]

Much as I welcome the PBOCs crackdown that reduced the volume of the transactions, I still can't help but be wary. You can be sure that they'd come out with more regulations. The motivation is also not really just to protect consumers. They see bitcoin as a way to launder money and surely many people there are using bitcoin to evade taxes and move out their money from China. For all it's economic changes, it seems those who can afford it still think it's shitty and would want to leave. That news about the pregnancy clinics in the US comes to mind.

Just wondering what makes china the mining capital of the world? Because they can make low class and cheap miners?

Cheap electricity plus the availability of inexpensive components.

[deisik]

Much as I welcome the PBOCs crackdown that reduced the volume of the transactions, I still can't help but be wary. You can be sure that they'd come out with more regulations. The motivation is also not really just to protect consumers. They see bitcoin as a way to launder money and surely many people there are using bitcoin to evade taxes and move out their money from China. For all it's economic changes, it seems those who can afford it still think it's shitty and would want to leave. That news about the pregnancy clinics in the US comes to mind

Please be an exception and don't ignore my question

In short, you are not the first who claims here that the actions of the PBoC in respect to Bitcoin in general and more specifically the actions aimed at making the Chinese exchanges disallow cryptocurrency withdrawals for the time being are somehow linked with the capital outflows. Since you also mention that, could you explain to me what exactly you mean by Chinese folks moving money out of the country and how it is connected with Bitcoin? Which money (currency) do you refer to exactly? You see, many posters repeat the same thing but no one cares to explain. Or should I conclude that the posters in fact just don't know what they are talking about?

[Gameroid]

Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising

China is no longer relevant

Not that it was relevant before but many people (me included) somehow believed that it had been the case. It was thought that Chinese exchanges with their huge volumes had been setting price reference points for other Bitcoin exchanges out there. The actions of the PBoC have quickly debunked these myths and eliminated such illusions or beliefs if there were any. I suspect that the Central bank of China itself didn't expect Bitcoin to be as resilient and robust as it turned out to be

I think it's not only controled by China markets rules, but other people who trade this cryptocurrency also involved to change the price of it. And we don't know the % value of countries who mostly or less make this value

In fact china is not going to hold and control bitcoin any more, and to me the only reason is that the users of bitcoin are increasing not only in China but in all over the world.

[poplolnman]

Possible or not if bitcoin users increase, china will no longer able to control bitcoin market. i see china market always try to dump the price even other exchange want to the price keep rising

China is no longer relevant

Not that it was relevant before but many people (me included) somehow believed that it had been the case. It was thought that Chinese exchanges with their huge volumes had been setting price reference points for other Bitcoin exchanges out there. The actions of the PBoC have quickly debunked these myths and eliminated such illusions or beliefs if there were any. I suspect that the Central bank of China itself didn't expect Bitcoin to be as resilient and robust as it turned out to be

I think it's not only controled by China markets rules, but other people who trade this cryptocurrency also involved to change the price of it. And we don't know the % value of countries who mostly or less make this value

In fact china is not going to hold and control bitcoin any more, and to me the only reason is that the users of bitcoin are increasing not only in China but in all over the world.

the reason why a lot of people accusing china could manipulate the market are because of the 51% attack , as currently biggest bitcoin mining companies are come from china. just as simple as like that . Antpool , DiscusFish , BTC china pool and BW pool got half of the whole bitcoin mining around the world. no wonder people keep telling china are controlling the market .

[swogerino]

That's a real welcoming news as Central Bank of China has decided to audit the online exchanges. This will somehow discourage the people who are faking volume and trying to manipulate the bitcoin price.

However, that will not completely remove the cancer from the system. There are many workarounds of the same. I'm sure Chinese people will find some workaround for the same. However, some fat at least got burned and probably we will see a little less inflated price and manipulation.

They have changed it now.
Those doing the investigations and auditing are now saying they will no longer be monitoring the bitcoin exchanges so this type of control over bitcoin is still in effect. That is probably why the disapproval of the ETF didn't even make the bitcoin price flinch, well maybe for a split second in the bitcoin price world ,
but didn't have a huge effect on it since it was an American creation that does not have as much potential then if it a Chinese invention of the bitcoin exchange market.

[Carmen_Sandiego]

If Bitcoin splits into two, due to the blocksize issue, I think China will have a lot of influence over BU, but I think the other chain will keep its properties, and probably a larger number of users, at least that's what the number of nodes indicates.

[Gotottack]

If Bitcoin splits into two, due to the blocksize issue, I think China will have a lot of influence over BU, but I think the other chain will keep its properties, and probably a larger number of users, at least that's what the number of nodes indicates.

I don't think if there would be a hardfork there would be plenty of people moving to the new one. Even if those hardforkers want to move to a new crypto, there are more people that wants to stay with bitcoins. So even if they try, they will not overcome the status quo of bitcoin. It will also not affect the bitcoin market, I think.