How Did China Dominate Bitcoin?

[Newchanka]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

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[Deathwing]

Miners. Electricity and maintaining factories are relatively cheap in China. Including labour. They were able to build ASIC miners so early on that they (overall Chinese population) hold a substantial amount of Bitcoin.

[Pearls Before Swine]

Miners. Electricity and maintaining factories are relatively cheap in China. Including labour. They were able to build ASIC miners so early on that they (overall Chinese population) hold a substantial amount of Bitcoin.

That, plus by sheer percentage they represent a large proportion of the world's population.  That, combined with their early interest in bitcoin and its mining, probably best explains why they're so dominant.  And good for them, too.  It would be a bad thing indeed if China didn't have such an interest in crypto.  If you think about it, it's amazing that crypto in general has achieved such a worldwide appeal, even among the poorest of countries.

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

Not all Chinese citizens can read english, but I'm sure a *lot* of them can and they're known for producing some very smart scientists/engineers/computer geeks.

[royalfestus]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

You dont ask why they still do the mining as much as they do it then? I dont stay in china but the news say electricity is cheaper there. China might look greedy to most people outside Asia but they provide a platform that allows industrialization and innovation to thrive. Am disappointed with the rate of bitcoin export from china also and poverty seem to cause it. However, they still own a large portion of bitcoin.

[Astvile]

Chinese people are known businessmen around the world so there's no wonder why investors/businessmen from china all go and give it a shot with bitcoin and the result is china totally dominating the bitcoin scene, mining to be specific. Power consumption cost is so cheap in China and that's one of the factors why there are tons of mining businessmen in china.

[hello_good_sir]

The same way they dominated the clothing, technology, and many other industries in the world.

China's rise to global domination and becoming one of the powerhouses of the world revolves around 3 basic things:

-A very cheap, and hard-working workforce
-Low fees to produce things due to low bills like electricity
-A strict (a probably too strict government) that regulates everything it's people do.

[Wintersoldier]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

It's a bit weird when people gets interested because of the white paper. I mean, huge volume of people, because I myself didn't really read the whitepaper, I just read news and updates before that's why I am here on the cryptospace. I just become interested on the whitepaper when I get so involved deeply.

But in terms of the chinese citizens, if they are technologically inclined and they do really want to know the technology of bitcoin, it is easy to pay a translator for them to understand and figure out what the white paper means.

In my opinion, it is the influence of their president that brings nearer in crypto.

[Shasha80]

In my opinion, why is China dominating bitcoin because there is money involved in bitcoin, because Chinese people have been educated
since they were small, how to make money. So anything related to money is definitely Chinese number one. So since bitcoin can make
a profit big through mining and trading. Chinese people try to dominate bitcoin, it's true that until now the circulation of bitcoin in the world
is controlled by the Chinese people. Especially now the Chinese president has started to support the blockchain, indirectly accepting bitcoin
too. Then of China's big investors have started to enter the market gradually. It can be proven after the news that the Chinese president
supports the blockchain bitcoin prices began to rise slowly until now.

[Kyraishi]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

It doesn't matter at all if the whitepaper was in English, there are a lot of multicultural people that will be able to understand the whitepaper and translate it to the rest of society.

We've seen China provide the world with a lot of very talented scientists, and it's no surprise that a country with the world's lowest electricity fees would end up controlling most of the mining operators/hash rate.

[fiulpro]

 Everyone in China from a little boy to a girl is interested in technology .

They have all the resources since things are cheap there and the population is too much .

The electricity is very cheap in China as compared to other countries. Therefore people can efficiently mine Bitcoins there.

Things like Bitcoins is more acceptable there ... comparatively.

[Tipstar]

Bitcoin needed hardware to make it's network secure. It devised a way to give contributors a reward.
China manufactures cheap hardware and they have some cheap electricity and one of the most tech friendly population. They jumped into bitcoin with manufacturing, mining as well as advancing the bitcoin code. They have all the human and other resource to start a crypto business.

[blckhawk]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

It's more because of the culture of the Chinese people. They're known to be good traders early in the history and good at handling financial assets, and so is having ways to earn money. And may be when Bitcoin starts to get traction and spread through words, they tried to understand and learn it early on, and since they have enough resources, and considering China is known as a marketplace, even in digital/electronics world, it's easy for them to dominate the platform. With low cost of labor and electricity, they might have seen the potential of growth and profit in Bitcoin.

[plvbob0070]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

Language is not a hindrance anymore. And don't underestimate them since there's also a lot of Chinese who are good at english. If they want to earn, they will find ways to earn. Chinese people are really good at handling businesses. I've seen a lot of successful Chinese businessmen. As long as they can see that it is profitable, they'll go for it. Addition to it, China is also advanced when it comes to technology. No wonder why they're aware about bitcoin and mining.

[skarais]

Language can still be classified into several factors that influence peoples attention to be attracted to something. But in the development of technology and industry, I think language is not a barrier for them (China) not to maximize market opportunities. I think China is very clever in this matter, where quite a number of industries are successfully developed at this time and will not stop until later. Maximizing opportunities, market demand, that is smart thinking in my opinion in terms of industry competition.

[lobat999]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

How come most of rocket science and nuclear technology textbooks are in English whilst China had managed to master these technologies despite of any language barrier?

I think the Chinese are very intelligent and keen as being rabid enthusiasts in Bitcoin that its no wonder  they had also managed to grab a strong foothold on this emerging technology. Imho.

[MURONDI]

China is known as the country that has the biggest influence on the world economy, This country is able to master various industrial lines, so it's no surprise that they can dominate bitcoin.

[BitHodler]

China enters every single industry where it then tries to dominate it by offering lower taxes, lower wages, lower power rates, and so on. It has been their signature move for decades now.

I however don't agree that they dominate Bitcoin because a lot of the hashrate has shifted to other countries. Is China still a major player? Yes. Has it resulted in anything bad for Bitcoin's mining ecosystem? No.

I think it's more so that news outlets and the non crypto mainstream media try to scare people off by highlighting China's 'dominance', while the reality is nore nuanced, but they don't tell you that.

[nancy]

China has a lot of manufacture power and cheap electricity to creat miners. Thats why a lof of mining power is coming from China

[bitzizzix]

The Bitcoin whitepaper was released in English, how did the Chinese get sointerested ahead of others that they dominate mining of bitcoin?

Language is not a major problem factor and English is an international language and many countries master it, China is a country famous for industrial and technological development, so nothing is impossible for the country of China.

[ChrisPop]

We all know that the Chinese as a stereotype are more inclined to accept technological innovations. They also have cheap work hands and electricity so that's why business people started establishing huge mining farms there. China's focus on Bitcoin and cryptocurrencies could be a smart thing for the next years to come. We all know that the early bird gets the prize, so they have a head start in comparison with USA. However I think US handles the problem more professionaly, but in the old snail-pace like style so the banks won't have to dump the fiat garbage.