Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Bitcoin Discussion
Re: China?
by
coin revolution
on 23/02/2017, 11:54:56 UTC
Quote from: HaXX0R1337 on February 18, 2017, 03:22:55 AM
Quote from: coin revolution on February 18, 2017, 01:18:08 AM
Quote from: solteykr on January 10, 2017, 05:27:03 AM
Is China trying to control Bitcoin?

In general, everyone thinks that China is an influence on bitcoin. For me, China is controlling the bitcoin from indirect roads.

Especially when the BTC price exceeds $ 1000, manipulation is starting. Soon I will be waiting for news from China again. At the moment, 1 BTC has exceeded the price of $ 1000. They may want to lower the price again and buy BTC.
It is a rumor that they tend to manipulate the price of bitcoin and they are booking their profits when ever they can because they have invested heavily in it and without any regulation against it ,expect that every now and then.

Of course the biggest reason for doing this is to make a profit. A large majority of mining operations are done in China. Bitcoin mining is a costly business. Mining revenues are very low. But despite mining revenues are low, China is still mining.
According to my opinion, they are deliberately manipulating. The mining process they are doing is for make profitable.