BTC is controlled by the ledger and any disputes are settled by majority "votes". Say if me and my buddies send out ledgers saying someone moved 100 bitcoin to my account, this would conflict with all the other ledgers (the blockchain) and since there are more saying the coins didn't move, that will be ruled as real. The ledger is maintained by those who are mining bitcoin. As stated, majority is in China. So if the CCP can tell all of them to change the ledger, then yes they can "fake" move coins around.
Can you elaborate a little on this?
Are you saying that any one entity that controls more than 50% of the computing power behind BTC can simply move coins around at will?
BTC is controlled by the ledger and any disputes are settled by majority "votes". Say if me and my buddies send out ledgers saying someone moved 100 bitcoin to my account, this would conflict with all the other ledgers (the blockchain) and since there are more saying the coins didn't move, that will be ruled as real. The ledger is maintained by those who are mining bitcoin. As stated, majority is in China. So if the CCP can tell all of them to change the ledger, then yes they can "fake" move coins around.
To be fair if they actually did that the entire value of bitcoin would evaporate overnight.
Which could be a great way to siphon wealth out of the west if you are china.