China - The epicenter of Bitcoin

[prabesh2058 171]

Yes i also trust on that fact.Most of the miners of cryptocurrency are from china and since being the largest country in terms of population there are a lot of cryptocurrency investors.

Almost every market are effected if china is effected from anything because china is mostly related to most of the business in the world.

In time of covid bitcoin and altcoin faced a lot of price drop and i think the reason may be the economic crisis in china. After normal condition in china now bitcoin price is stable and gradually increasing.

[yonkii 3205]

I remember that the stock markets crashed, oil crashed and even gold price went lower and I have learned later that Bitcoin went down too. All at the same time. I don't think Bitcoin price had anything to do with China. I look at the power graph of Bitcoin hash power and it wasn't chagned. Bitcoin was not affected by corona and China can't do a lot. Maybe they can shut down the miners, then they will move to other countries.

[arnosk 228]

Another point is that most mining companies are located in China, think about what would happen if those companies are forced to stop their activities. The price of bitcoin would also drop 

[cryptovlek 2597]

China has no influence on Bitcoin, you should study more to understand that but it is a problem that too many miners are there but could they make a problem? It will be temporary and not nothing that will make a lot of damage. Bitcoin will survive anything.

[mildred27 317]

I think that in times of crisis some see problems and others see OPPORTUNITIES, that is to say they saw the opportunity to buy cheap BITCOIN wait and sell CARO, feeds that were only intelligent investors and knew that this one was going to rise. 

[CriptosActivozVzla 83]

The Chinese market in digital economy is one of the most moved and important, I feel key to the rise or fall of a Crypto could destabilize the value of a token

[gest49 84]

China is one of the active countries that handles more money in cryptocurrencies, bitcoin had its origin there, in addition to the fact that China is one of the countries that makes the price of bitcoin more affected, without a doubt world powers such as China and the United States are the epicenter of bitcoin

[minoooo5 76]

China has a great impact on the world economy and also has an impact on cryptocurrencies. The largest trading platforms are based in China or Hong Kong, and many Chinese use cryptocurrencies in their business, but I do not think that Bitcoin is centered in China, and no one knows where the bitcoin is As for the reason for the rise in the price of bitcoin after it fell during the Corona crisis, there are other reasons that are not related to China

[Aaron07 60]

China was always ahead in many things, and something like this was to be expected, its cryptocurrencies perform well in the market, I have realized that

[Braulio Eurea 720]

China is a great economic center and also a center for the spread of the coronavirus, its great economic and financial power is felt in the world and as a center of power influences the behavior of bitcoin and cryptocurrencies, the struggle of this economic giant is on the ground Little by little, the economy is expanding its networks to developing countries in its fight against the United States. The Chinese economy and its pandemic have affected the world economy causing it to reduce its growth expectations.

[Jamillove2580 115]

Yes, I think China is the center of Bitcoin, but this China was moving towards economic development, but because of this coronavirus, there have been many economic crises in China.  I hope that in a few days they will be able to overcome the economic crisis and improve their economic infrastructure by earning a lot of money.  This is my idea because they can make their economy stronger by earning bitcoin

[Mella 3680]

China I am read they are have a lot of miner close to 60% of the bitcoin miners. This is a very much and as in all the industry china want to be the number one. I am not see a problem with it for right now but I am hope that the China govremnent will not be try to abuse any of these and make Bitcoin look bad.

[Sykkuno 2887]

I am sorry but this is not true. China does not control Bitcoin. The hash rate genereated in China might be more than half of the total hashrate but this happens for many reasons as low cost of electricity and the china being more than one billion population. They were early in bitcoin and mining is profitable there but this changes and is not mean it controls anything.

[percare 3192]

China is expanding rapidly in every sector of the economy and industries. They are becoming the power that will match the united states but it will be after ten years perhaps that they will reach this much. About bitcoin they are also having the most miners and the most power of the network but this is not a danger for Bitcoin right now. It will be extremely difficult for miners to collude and bring the network down. This can happen but there will be a hard fork immediately that will exclude these miners then. So china has no power over Bitcoin.

[Shaza Ahmad 1682]

Well, I agree with you that China has a great influence on Bitcoin and that is a natural thing. In one of the reports that I read, 50-70% of the mining power comes from China, but I do not agree with you that this makes Bitcoin central and totally linked to China, because Any country in the world is able to mine Bitcoin provided the appropriate conditions are secured, and perhaps in the future we will see countries surpassing China in this field.

[shervin77 361]

Yes, I agree with you, as you said, more than half of the bitcoin miners are in China.
And this extraction makes China the center of bitcoin.
But I'm not sure if it can affect the price of bitcoin because bitcoin price fluctuations depend on many reasons.

[Teminali69 1081]

On 10/16/2020 at 2:22 PM, shervin77 said:

Yes, I agree with you, as you said, more than half of the bitcoin miners are in China.
And this extraction makes China the center of bitcoin.
But I'm not sure if it can affect the price of bitcoin because bitcoin price fluctuations depend on many reasons.

But at that time it was obvious that it was the pandemic that cause the price of bitcoin to fall massively and as the issue started at china and is when the price started to drop, when china settled from the virus issue even though the rest of the world was suffering, the prices started to rise again.

[Alimhana930 1605]

It is ironic that China includes a huge number of miners, traders and those interested in the cryptocurrency market, and at the same time it is enacting laws that prohibit these trades or the use of cryptocurrencies in them. But, as a whole, it and the world at large will be pleased in the direction of accepting cryptocurrencies, blockchain and its applications, and it is only a matter of time.

[zhoutong 2188]

China must understand by now that they can't ban Bitcoin. They have been trying for years and they have been proven ineficient. It is the epicenter of mining Bitcoin because of the low cost of production in the country and the development of equipment from factories but it is also still has big trading population. China wants to crack down on criminals laundering money but banning Bitcoin was incorrect. Allowing excahnges and monitoring would have been better.

[Cryptomint 433]

We all know that china is on top in population and people use cryptocurrencies in this country so it can be happened. Because China is a big country.

[Onden 2098]

I don't agree with you, I saw a drop in bitcoin prices last March, even though the virus was already in China from December to January. In early January it was the start of bitcoin bulls, then continued to rise until March, when the Bitcoin price fell slightly as the coronavirus spread around the world. Then after that the price of bitcoin continues to rise until now. I don't know what has affected the bitcoin price this year, which is clear in my opinion that the increase and decrease in prices are not affected by the virus in China.

[Abdul1168782 572]

Yes you are right but in my opinion connecting totally BTC with china is not right but we can say that china has a large number of miner and china has also a good hold on other things of world market . And when china suffer through the situation the all world market affected. This is only my opinion.

[matias estigarribia 1605]

I share what they say, it is true when China began to recover its economy, Bitcoin began to grow I do not know what is the reason but it is very encouraging for cryptocurrencies that countries like China that are powers bet on BTC.

[Barbarellah 2225]

This shows that the prices of cryptocurrencies not only depend on supply and demand but that there are other factors that are also part of the protagonism in the process. Other events that have arisen in the last quarter of this year in China is the appearance of a series of regulations and even prohibitions on the use of crypto and this has led to many of the mining companies established in China and many other corporations are studying the possibility of permanently moving from the Asian country. A fact that will also very soon affect the price of digital assets.

[Jromz 2158]

There is no doubt that China plays a major role in Bitcoin's market, after all this country accounts for about 80 % of all mined Bitcoins. It'd be interesting to see whether this remains true as China launches its CBDC and it gets strong over the time. Whether China's influence on Bitcoin will reduce or there won't be changes at all?