China - The epicenter of Bitcoin

[kryptonick 2659]

I don't think it was the location of the virus that affected Bitcoin. It was the spread of the virus in Europe and especially in the USA. The chinese were dealing with the virus since December and price of Bitcoin was rising until March. So it was the effect of the coronavirus reaching the US economy and population that made it worse for every market.

[Irungu 4299]

China has the largest concentration of billionaires and when you look around, millionaires have now become almost in handred of thousands , so sometimes they look for new challenges and so most would move abroad, some have been seen opening casinos in neighboring countries and even abroad, and sometimes they need to move huge monies without being noticed, and so the crypto world acts as a perfect space for them

[khan22 3478]

China is a great country in the world and they make so many bitcoin through mining and also they make so much high investment in this market and soon i hope so they make a huge investment in the market in future more and more and this time bull BTC will touch the 200,000$ may be it will touch the 22,0000$.

[Guru2050 8284]

China is too important to Crypto world in terms of population and it's strong economy too, so many investors, several categories of Crypto user's comes from China, even this will greatly help in enhancing the growth, level of awareness and rapid acceptance of the system by other countries viewing China or Asian at large as the leading or epicenter of Crypto currency.

[Izeal 4404]

Yeah, most of the bitcoin miners are from china because they are very hardworking and they can buy mining computers for cheap price. We can say china as epicentre of bitcoin but even we can listen that the country are against the cryptocurrency. I think they are planning to develop their won cryptocurrency.

[Projectcrypto 4382]

China is believed to have the highest investors of bitcoin in the world now and that was why bitcoin quickly crashed down when the Corona virus pandemic started but recently we have began to have some increase in the market value of bitcoin because it now seems that bitcoin have began to resist the impact Corona virus has caused to the it and the world economy at large.

[bogdanoff 3173]

We don't know what happened in china exactly with the corona virus but it didn't affect the mining of Bitcoin. looking at hashrate it is rising and this means that the miners do not have problems and are profiting.

[Mike1515 2977]

@Dmasked That might be true, there are so many Chinese bitcoin users, and this might not be related with how they have been able to invest and to understand this we need to really check on what happened to the price of bitcoin. Was it because of Corona or was it because of the special Halving that was to happen, there is no relationship between the economy and bitcoin.

Where I think you might be right is because Most people might have cashed out because of fear, fear that the price of bitcoin would fall drastically but anyways that never happens and now we are stable around 10K again though I think something is going on and it will be exploding very soon.

[Digital 387]

China has great influence in crypto currency especially Bitcoin because China is one of the few countries in the world that first accept crypto currency I believe during pandemic they have great impact on crypto currency during that period.

[el-Muhammady 718]

The Chinese make use of bitcoin more than any country in the world at the moment and that is why bitcoin quickly got affected in term of value when the Corona virus attack them and since they have been able to find a solution to the deadly virus we can all see bitcoin starting to rise gradually in the market.

[Teminali69 1081]

On 4/15/2020 at 8:51 AM, Dmasked said:

Few weeks ago when the price of bitcoin crashed hard to around $4000 i noticed something unusual. It was the time when China was the epicenter of Corona virus outbreak and at the same time the price of bitcoin came crashing down. Bitcoin and all other crypto currencies are supposed to be a decentralized currency but somehow bitcoin seems to be centralized to China to some extent.

 

Maybe it is because of large number of Bitcoin miners in China but I never expected that one single country would affect the price to this extent. When the situation in China was under control the price recovered again. It seems like China has high influence over these digital assets and its not something I like.

 

The situation in china is now under control and improving but the outbreak has traveled to other major powers around the world like USA, Germany, Spain, France and other global giants. Their situation is far worse than it was ever in China but some how it has not affected the price of bitcoin too much. The whole global economy is degrading by the day but the prices are actually recovering along with China. It seems to like China has high influence over Bitcoin which it shouldnot have. 

 

 

China is not much fond of crypto but they are the biggest miners and also they are the biggest investor.. you will be amazed. Now they have created their own coin which is limited to their national jurisdiction alone. I have no idea what they are planning.

[Raqeebzy 6456]

On 4/15/2020 at 6:51 AM, Dmasked said:

Maybe it is because of large number of Bitcoin miners in China but I never expected that one single country would affect the price to this extent. When the situation in China was under control the price recovered again. It seems like China has high influence over these digital assets and its not something I like.

Yeah, largest part of the mining activities of bitcoin falls to China but that doesn't equate to Bitcoin being centralised in China. Favourable conditions played a major role in that, I don't see it as something to be afraid of really. 

For the time when fiats might be dangerous as transmission agent, Bitcoin and definitely other cryptocurrency were made for those moments; it was affected a lot at first but the recovery was rapid unlike the stock market.

[Maaz sultan 265]

Yes you are right China is the head of crypto market and after corona virus the price of all the crypto currencies go higher then 400% and therefore we need to keep eye on china for any bitcoin next move .

[muniral4422 185]

China has been a very big player when it comes to Bitcoin and crypto currencies. It seems that there are lots of investors in China. However it seems like China is developing it's own digital Yen which might reduce their investment in other coins like ethereum and bitcoin.

[Sarahden111 1231]

The puzzling thing is that China was the epicenter of the pandemic, and at the same time China contains a huge number of miners and traders, and at the same time the Chinese government is fighting cryptocurrencies. But I think in the next stage, the matter will change in terms of legalizing cryptocurrencies, since economists saw the importance of the crypto market in such exceptional circumstances.

[malik6314193 5449]

No doubt China is hub of crypto currencies and leading in crypto world. That's is the reason that a signal country can affect so much in price of bitcoin. But it is good that now price comes up. 

[Chief executive officer band 681]

On 4/27/2020 at 3:53 PM, Hasmizara said:

The epidemic has decreased a lot from before. However, it is true that Bitcoin originated from China, the center of Bitcoin. Bitcoin is first supported by China, which is why China is so advanced in terms of crypto.

China was earlier the interior of bitcoin, but it did not turn into therefore while it announced a standstill and prohibit on its support for bitcoin, forcing the maximum platforms to hand on their platforms and currencies outside China. 

 

[Villa33 143]

China leads the global race for digital currency with the e-China
The Asian giant's central bank is pushing its virtual currency, which could displace physical cash and would be a challenge for the US.If the Chinese central bank's plan for a digital yuan is successful, the future could be similar for the rest of the world. Since the beginning of this year, China has gradually increased testing of its first central bank-endorsed digital currency. 

[caeb2009 154]

CHINA nuevamente es el epicentro de un desastre, pero esta vez involucra a la industria de oro nacional. Más de 80 toneladas de oro, prometidas como garantías de préstamo, están siendo investigadas por falsificación en China. Esta sorprendente historia nos recuerda que en Bitcoin la falsificación no es posible.

El protagonista de este suceso es la empresa Wuhan Kingold Jewelry, el mayor procesador de oro de propiedad privada de la provincia de Hubei. La empresa ha estado relacionada en su pasado con el gobierno, e incluso sus acciones se cotizan en la bolsa de valores de Nasdaq en Nueva York; datos que nos permiten imaginar cuán importante es este actor en la industria de oro de China.

CHINA is again the epicenter of a disaster, but this time it involves the national gold industry. More than 80 tons of gold, pledged as loan guarantees, are being investigated for counterfeiting in China. This surprising story reminds us that counterfeiting is not possible in Bitcoin.

The protagonist of this event is Wuhan Kingold Jewelry, the largest privately owned gold processor in Hubei province. The company has been linked to the government in its past, and its shares are even traded on the Nasdaq Stock Exchange in New York; data that allows us to imagine how important this player is in China's gold industry.

Edited October 8, 2020 by caeb2009

[Omar1234H 148]

Since China is one of the most populated countries in the world, it has great influence on digital assets. Many Chinese turn to Cryptocurrencies to have a stable economy ... In addition, Bitcoin is decentralized but when there are large sales from a country like China, prices can drop quite a bit.

[duncun007 3577]

On 4/15/2020 at 8:51 AM, Dmasked said:

Few weeks ago when the price of bitcoin crashed hard to around $4000 i noticed something unusual. It was the time when China was the epicenter of Corona virus outbreak and at the same time the price of bitcoin came crashing down. Bitcoin and all other crypto currencies are supposed to be a decentralized currency but somehow bitcoin seems to be centralized to China to some extent.

well it wasnt just the crypto currencies falling down but we saw all stocks falling as well, and this is very normal to happen during a pandemic as people panic and tend to buy assets like gold and silver.

[Teminali69 1081]

In China there found the top holders of bitcoin as well as large miners, and yet it is said to be the country that prohibits the use of crypto, that fact is very confusing.

[Brandonsaw 1973]

Yes, neither, I don't like that China has a lot of bitcoins but it is not known and the truth is that if China is the epicenter of bitcoins.

[setifien 1016]

yes a big number of traders and btc manipulaters are from china (maybe the Chineese gov has btc too), but as Chine is not that transparent country, there maybe a centralisation of cryptocurrencies

[MuhammadSh 3067]

Chinese people are really lucky because they were aware about this cryptocurrencies project since it first launched! and many of those people who believed in it since that time are rich these days because of the high rising in the prices of many cryptocurrencies! by the way , there are big numbers of miners there in China as many experts said..