Post
Topic
Board Economics
Re: panic selling
by
ASHLIUSZ
on 06/08/2016, 17:53:13 UTC
You can trust the Chinese in China to continue buying up the coins and driving up demand.
By and large it is the Chinese control much of cryptocurrency market. So that China and China alone.

I think the Chinese control the making of the cryptocurrency, the bitcoin and the Ethereum as they are the miners.
The only thing that they control is the distribution of Bitcoin among the markets, and it means very little when it comes to actually controlling it. There are plenty of other miners that also find blocks and sell Bitcoin that aren't Chinese, so it means very, very little. Making Bitcoin means nothing to be completely honest, because most people will just go and buy it from an exchange.
China is seemingly buying up a lot of Bitcoin. The great part is that in China, Bitcoin is very popular, global Bitcoin mining market has turned into a liability because the specific individuals in control of the country's biggest mines are resistant to changes in the blockchain, the decentralized technology that makes all of Bitcoin work in the first place.