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silent17
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September 23, 2017, 03:22:50 PM |
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As far as I recently read, china hold at least 20% of bitcoin around the world. They also have the biggest bitcoin mining due to the cost of electricity in their country was very low.
But i don't think that bitcoin will go down just because of that because other countries in ASIA are starting to adopt Bitcoin.
What you said is true that china is the main center for Bitcoin mining and their are lot of users who are holding bitcoin from low, and their exchange are the highest trading volume in crypto world but this are all old news latest one is South Korea and Japan are leading the bitcoin trading and even they have given bitcoin legal status. That is why the market is now spread between so many countries that china is not able to create any panic in the market. Good to hear that, thanks for updating me, there so many threads here that i cant keep up  |
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Lord_Trajan
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September 23, 2017, 03:43:18 PM |
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Because they (used to) represent a huge chunk of trading volume, as well as total network hashrate.
They were a major country prior to banning Bitcoin. But now not so much really.
Their loss  |
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Oroplata
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September 23, 2017, 03:46:46 PM |
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Chinese is known as an entrepreneurs worldwide. Bitcoin is a currency in digital form, and where there is money, business minded people are there. Bitcoin is an opportunity to have money and many Chinese are involved in bitcoin and their demand in bitcoin makes price changes.
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justspare
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September 28, 2017, 06:52:34 AM |
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Why is china so influential with bitcoin prices?
China is the country with the largest population and perhaps that is the reason why china is so in fluent with the bitcoin prices. China has most of the bitcoin users as the people in china are technology friendly and have a good source of income through bitcoins. I don't even think that the rumors about china banning bitcoin will be true as there is no such huge reason behind bitcoins to b banned. Either china would launch a special coins to be used there as they have always invented a second option for each thing that is essential. But it is not possible to gain as much reputation as bitcoins. Perhaps the rumors are fake as the similar were seen in 2013. |
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krauzzer02
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September 28, 2017, 07:24:24 AM |
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China owns the largest mining and bitcoin industry in the world, 81% of mining pool belongs to them, they have a cheaper electricity cost from coal and nuclear which how the mining works, it needs a ton of electricity in order to generate and mine a lot of bitcoin, but Chinese government bans bitcoin and we all know that, there's a news that the Chinese crypto traders moved in to japan.
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btc-facebook
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September 28, 2017, 07:28:20 AM |
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Why is china so influential with bitcoin prices?
Currently my most electronic part are import from China so yeah China can do anything with major market exposure. China may the most wanted investor if they want to build their start-up company and as we can see when China able use bitcoin , global market got affect quite much |
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Monnt
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September 28, 2017, 12:40:40 PM |
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China is not influential i think. Its peoples fear that is affecting bitcoin.
Slightly you were right but as I can see from the recent news and even some would even say that in China, there are so many people that are using bitcoin, or should we say they are mostly investors and that news took a great deal at the bitcoin's price which is the reason why it goes down for a bit, but it will rise again. Yes, china has the most investors of bitcoins and also it influences the price because of panic. The recent rumor made a great effect on the price of bitcoin about china banning bitcoins, but in reality i dont think it would happen because most of the miners and investors are from china. China is a independent country and we cant predict the future of bitcoin either. But as the population is much higher there, people fear about the bitcoin markets falling and in panic they sell off their bitcoins leading to the price fall of bitcoins. But surely bitcoin will again rise as bitcoin has previously faced many such situations and now is strong enough. |
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celested
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September 28, 2017, 01:05:45 PM |
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Why is china so influential with bitcoin prices?
Because China is the world's second-largest market economy, the large population and rich people invest in bitcoin. Influence and develop to bitcoin. So if China prohibits bitcoin, it will have a big impact on the bitcoin currency. |
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francesyrus
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September 28, 2017, 01:22:29 PM |
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Why is china so influential with bitcoin prices?
China is so influential not only on bitcoin prices but also to all things that can be traded. They controlled almost everything in the world. China has the ability to mine more bitcoin because of their cheaper electricity compare to other countries. China have the most advance technology to mine at cheaper price. And I think many Chinese are in the bitcoin industry now. |
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VanDeinsberg12
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September 28, 2017, 01:24:02 PM |
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China is not influential i think. Its peoples fear that is affecting bitcoin.
Slightly you were right but as I can see from the recent news and even some would even say that in China, there are so many people that are using bitcoin, or should we say they are mostly investors and that news took a great deal at the bitcoin's price which is the reason why it goes down for a bit, but it will rise again. Yes, china has the most investors of bitcoins and also it influences the price because of panic. The recent rumor made a great effect on the price of bitcoin about china banning bitcoins, but in reality i dont think it would happen because most of the miners and investors are from china. China is a independent country and we cant predict the future of bitcoin either. But as the population is much higher there, people fear about the bitcoin markets falling and in panic they sell off their bitcoins leading to the price fall of bitcoins. But surely bitcoin will again rise as bitcoin has previously faced many such situations and now is strong enough. That's now just a myth that china is influental to the price, they lost all their capital and now their exchanges trading "dust" amount of 24h volume, nothing to be worried here. but many people still think about hashpower which china contribute, don't know about the future of bitcoin if china going to banned the mining activities there. |
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The Alchemlst
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BITDEPOSITARY - Make ICO's , More Secure
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September 28, 2017, 01:27:57 PM |
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Why is china so influential with bitcoin prices?
Because their country has the highest number of population in the world and they are the major part of manpower and consumer in almost every market and trades. Even major company like samsung and other gadgets invests in china so it's no wonder that a major part of bitcoins market is affected by china. |
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fianaindriati
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September 28, 2017, 01:28:48 PM |
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Why is china so influential with bitcoin prices?
as far as I know China is very influential on bitcoin, because chances are half of the shares owned by bitcoin may belong to china, and china has established cooperation. or on the contrary the reason is probably most bitcoin users are chinese. then it will also affect the bitcoin. |
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Beerwizzard
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September 28, 2017, 01:29:19 PM |
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Chinease bitolin holders can obviously just use the other exchanges (but who knows what can happen with their government, they always had extremely strong internet chensorship). There is no exact borders for btc but they still have huge amounts of farms (but imho it will only decentralize bitcoin).
I realy hope that the BTC price changes caused by china bans can only have influence in short term and situation will be normalized pretty soon.
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Seaze007
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September 28, 2017, 01:31:03 PM |
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Why is china so influential with bitcoin prices?because china is pawerfull country
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ropyu1978
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September 28, 2017, 01:31:20 PM |
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Why is china so influential with bitcoin prices?
many causes are factors. which obviously bitcoin users in china country big enough and many. one of the influential factors of china, but I am sure, bitcoin will be able to pass through it. |
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globaturcana
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“Decentralized Transportation Economy”
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September 28, 2017, 01:33:45 PM |
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Becasue there are too many mining activities in china. And also too many bitcoin holders there.
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Xester
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September 28, 2017, 01:41:17 PM |
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Are they really influential in bitcoins? I do not know but if Dimon do not announced bitcoin as a fraud at the time the Chinese government banned bitcoin, the effect of the China to bitcoin is not that much. Even if Dimon and China made that moves, bitcoin price is still high. So basically China is not that influential. But I guess it looks big thing because China is big and that Chinese are many. |
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SocialClooud
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September 28, 2017, 01:45:08 PM |
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Why is china so influential with bitcoin prices?
the answer is simple. there are a lot of buisnessmens who invest in it. Yes, they are maybe more interested new inventions, you know) |
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fulmetal08larz
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September 28, 2017, 01:48:47 PM |
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in my opinion, it is because they own large volume of bitcoin causing them to be one of the dominating forces affecting bitcoin's price rise and fall which affect others as well who have weak hands, just like a domino effect. It could also be their processs of manipulating the prices so that they can buy bitcoin again once the price falls and taking profit after it get backs up. most of the Chinese people are business minded and this is one of their ways of doing business. Buy low, Sell high.
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Lorilikes
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Content| Press Releases | Articles | Strategy
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September 28, 2017, 01:49:43 PM |
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They have been a major percentage of miners, mining pools, holders of large amounts and lots of the best technologies in crypto came from China.
Biggest spenders often are Chinese and up until recently it seemed like China had the controlling hand on the network but ...
It isn't so anymore.
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