China can destroy bitcoin

[SIDDHI777]

China cannot destroy the bitcoin network entirely because it is wide spread but definitely they can do a serious damage if they want because china is the single country which has able to grasp majority of mining processes in the bitcoin network but there is no solid news to believe that china will destroy bitcoin forever and there is no reason to do that because still bitcoin haven't become a thread to Chinese economical system in any way

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[meritbygrace]

Who knows, anything can happen. China is heavily controlled by the government..But i don't think they can do any harm to the great king.

[Siren]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

China will always have a big impact. When China supported Crypto, the development of Crypto would increase and when China did not support Crypto, its influence on Crypto would deteriorate. This is unavoidable because China has a very large market share and this is always the case for every country that has great capability and influence. China currently dominates mining and this has a big impact on energy sustainability and usually the government will determine what they value far better.

You talking about the effect,but what OP is aking destroying the bitcoin lol

No one that in their right mind will believe this hallucinations,yes china has big influence about the value of not only bitcoin,but all the cryptocurrency and it contributes large percentage but this is not enough to bring bitcoin dead.before china theres asia whos this country is only part,and majority of asia has trust in cryptocurrency,added is all the larger continent universal,so expecting bitcoin down is close to hallucinating

[ice18]

In my opinion yes china has a big influence in bitcoin mining since it has the biggest shares of hashrates and most of the miners are come from this country last year but as time passed most of this miners relocated to some other countries because of regulations about mining and as of this time China I think has no enough power to destroy bitcoin but as far as I can see China will not do any harm to crypto especially to bitcoin many players are from this country and they will not let this happen.

[feehannah]

The influence of China in cryptocurrency  is great. And it has also a huge impact in increasing and decreasing of value and popularity of bitcoin but i think it could not destroy bitcoin.

[suzanne5223]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

Yes, China has the power to destroy bitcoins . I think, there are no solution right now but who knows someone will come up to combat this. Think positive...

You seems not to understand that it not the matter of certain country controls mining hashrate or dominate the ASIC vendors because bitcoin was controlled by the community and most of the hashrate, ASIC and mining I own by private investors. Meanwhile, they have tried to destroy bitcoin in the past, they failed and was hurt for not holding bitcoin when it reaches the last ATH.
I'm somehow disappointed for your statement as a Senior account holder.

[Dissident991]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

Yes, China has the power to destroy bitcoins . I think, there are no solution right now but who knows someone will come up to combat this. Think positive...

You seems not to understand that it not the matter of certain country controls mining hashrate or dominate the ASIC vendors because bitcoin was controlled by the community and most of the hashrate, ASIC and mining I own by private investors. Meanwhile, they have tried to destroy bitcoin in the past, they failed and was hurt for not holding bitcoin when it reaches the last ATH.
I'm somehow disappointed for your statement as a Senior account holder.

Do you think can chinese government design the legislation that would enable them to take away located in the China mining farms  from their owners? And therefore grab control of majority of the hash rate .

[keykey1]

China is the most populous country in the world. The impact of China on the economy have a significant impact on the world economy. With such great influence, China has made moves to prove itself.
I hope that will not happen, if China beat Bitcoin, the market will crumble

Man, it is evident that Bitcoin's popularity cannot be beaten. Many remember how much the traders and investors earned last December when Bitcoin reached 20 thousand. Now many of guys hope BTC will gain again. I even can say all world waiting it.

[Dilerium90]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

China still does not have more than 51% of network capacity. Or am I wrong? One country will not be able to do anything, even if there are a large number of Asics there. After all, these miners are located at different people and different companies that have different goals.

[RitsuKawai]

China has also issued an ICO ban and closed all domestic crypto trading floors. These steps, along with tightening controls on cryptocurrency, have led to a sharp fall in the price of coin. But it is impossible for China to destroy bitcoin.

[mutrang23]

China is a big country and has a vast investor base. This is also the country that holds the most Bitcoin in the world, which has a significant impact on the Crypto market. If the country calls on investors to sell all of Bitcoin owned by investors, I believe that Cryptocurrency will collapse.

[piterpie]

I hope this will not happen, but it is true that China can do this. Because Only mining pool, China has been able to control Bitcoin.Coal miners were limited to "more than 80% of Bitcoin was dug from 6 pools," when five of the six pools were directly managed by individuals or companies based in China.When you see just how Chinese mining mines work together and account for 74% of the Bitcoin network hash rate, you will find that the situation is becoming extremely worrying.

[cybersofts]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

No country in the world has the power to destroy bitcoin, let's be clear on that one first. China can only impose the law on the Chinese bitcoin miners or ASIC chip manufacturers that perhaps might affect the bitcoin network. And in time, the network will recover because sooner or later the Chinese miners will move to other countries in order to protect their own businesses.

[dmamigo]

China is a big country and has a vast investor base. This is also the country that holds the most Bitcoin in the world, which has a significant impact on the Crypto market. If the country calls on investors to sell all of Bitcoin owned by investors, I believe that Cryptocurrency will collapse.

Things are changing in the market, even though China is the largest holder of BTC, and the number of miners from their country is also high, but the market is changing, yeah the market can definitely take a hit by the action. And it will be a serious one if taken right now.
The market might fall into trouble, but I do not think it is going to collapse or completely diminished. Moreover the Chinese will not do so, because this system is the greatest asset which might be of great help in the future.

[FIREBALL24]

Theres no doubt china can made a
big collapsed of bitcoin through their powers, they can control everything the mining even the internet functions they can manipulate all one thing we could hope that chinas not made this all romurs because we the most affected if it is happened...

[Red_Evil]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

No country in the world has the power to destroy bitcoin, let's be clear on that one first. China can only impose the law on the Chinese bitcoin miners or ASIC chip manufacturers that perhaps might affect the bitcoin network. And in time, the network will recover because sooner or later the Chinese miners will move to other countries in order to protect their own businesses.

that's right, bitcoin will never be destroyed by one country because bitcoin is like the internet that has to turn off the whole world if it wants to destroy it, and it is true that China will only temporarily cripple bitcoin because in some time it will recover and will even become stronger.

[dewildance]

In a report I read this morning, China was preparing to remove some of the prohibitions. Here, it is said that more ban can be applied. Where do we really find current news from China?

[cetald]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

When we talk about China, which controls the bitcoin mining hashrate, we should not understand China as a whole, but Bitmain and its allies. The position of this company has long been known. They are not going to sink bitcoin. It is not profitable for them.

[delphic]

I agree that the authorities of the country have enough tools to seriously affect bitcoin. This is a large concentration of miners and computing power. So, as more than 80% of mining farms belong to six pools, five of which are managed by citizens or companies in China.
But miners are not necessarily located in the same country as the pools. There are many miners where there is cheap electricity and loose legislation. If a pool is involved in a “bitcoin attack,” the miners will simply switch to another pool, not Chinese.

[denzkilim]

very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.

in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.

Is there a solution to stop that potency  ?

China still does not have more than 51% of network capacity. Or am I wrong? One country will not be able to do anything, even if there are a large number of Asics there. After all, these miners are located at different people and different companies that have different goals.

That's right, It doesn't matter if China has the most crypto currency mining farms in the world, it matters if all that mining farm belongs to one owner and definitely that person will have the control but just like what you have said those mining farms belongs to different people with different way of thinking and agenda.
I don't think that China is a threat to Bitcoin or the whole crypto currency community because the real threat are those people that keep on speaking and spreading negativity about this industry.