Quote from: Taki on January 22, 2017, 11:32:32 AM

Quote from: bravehearth0319 on January 22, 2017, 06:04:25 AM

Quote from: Kevinde on January 07, 2017, 05:31:05 AM

Quote from: iamTom123 on January 07, 2017, 05:23:30 AM

What is happening right now with the value of Bitcoin can all be partly traced to China. Chinese hold a big portion of the quantity of Bitcoin now circulating globally...they can manipulate its value and whatever they do that can affect Bitcoin will have a direct and indirect impact on its market value. Not to mention the fact that pronouncements from the China government in relation to Bitcoin can send the value of Bitcoin tumbling down or rolling up.

And this leads me into thinking...is Bitcoin now tied to China and is there something we can do about it?

We can not do anything with bitcoin because chinese demand is too high and Once there are anything happened with bitcoin or chinese investors of bitcoins. that is very big problem because They owned biggest bitcoins in the world (90% bitcoin amount from China). I think we need another digital coin for the rest of the world.

Sounds in your reason you became panic. Its not just because China owned biggest bitcoin in the world they can freely control the price of Bitcoin. No its not like that, have you forgotten bitcoin is DECENTRALIZATION not centralization. Always remember and keep that in your mind.

Yes China has the biggest number of bitcoin users in the world. But don't you think that many of this users will cash out their bitcoins before Chinese New Year for presents and celebration? Such mass withdrawing can make the price for bitcoin to drop very fast.
I don't like to make any prognoses, but it's pretty possible scenario.

What makes you so sure about that?
The numbers of exchange volume? Do oyu know that anybody could trade on the chinese exchanges? There is something like VPN.
And I know lots of traders who based in western countries due to zero fees and high leverage.However this may chnage now.The times of high leverage seems to be over and possibility of fees getting introduced soon is getting discussed as well.
After that we will see how big china in terms of bitccoin trading really is!

And no I don't think just due to chinese new year there will a massive sell off.
It dod not happen the years before, sho why should it happen now?!
Makes no sense!