Post
Topic
Board Economics
Re: Does China Control Bitcoin?
by
tungaqhd
on 22/11/2019, 08:03:53 UTC
Here's an interesting article citing some recent research which claims that the majority of mining power is in China, and those miners may have some perks that others outside the country do not have.

Here's the article.
https://thenextweb.com/hardfork/2018/10/08/china-means-intent-destroy-bitcoin/

It talks about whether China could destroy Bitcoin, or perhaps use it in some other way.

What do you think? Does China control Bitcoin? If so, is it the government or no? Are these Chinese Bitcoin mining farms working together? What might China do with Bitcoin (government or no) in the future? AKA, attempt to destroy Bitcoin (would they be successful, do you think), use it to bring more wealth into the country or personal pockets, use it to attack other nations, etc?

Looking forward to your thoughts,
The Cyberius team. 
China can not control Bitcoin because it is decentralized, but there are many Chinese traders, mining companies so they can affect on Bitcoin price by selling or buying Bitcoin.
The China governments's rule on Bitcoin also affect on the market.