Topic: Apparently Chinese Mining Pools are sticking with Core! :) - page 3. (Read 3739 times)

Government will do exactly like they did with exchanges, first define mining pools as a money transmitter service thus require license to run (I think BTCGUID was closed due to this requirement), and when pools get that license they become a financial institution, thus must follow AML and KYC rules, e.g. all the miners connecting to them will have to submit their id-card and el/tele bill to living address....

Then the issue s been resolved. Cause mining pools and large miners are the ones who call the shots.

So any other discussion about this is pointless.

Doesn't seggregated witness fix this problem? I guess it will be ready after few months.

Average confirmation time has not increased, so there is no emergency.

https://blockchain.info/charts/avg-confirmation-time?timespan=2year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

IMHO we can wait for the seggregated witness.

Ok then, we will just see what happens. I'm getting tired of this blocksize debate.

If China sticks with 1MB block size and BTC lifts off there will be full blocks and transactions will be delayed, eventually not get through. Something is going to change then. Either the BTC price will tank or a solution will be found. Until then, the fees may be higher and the Chinese will earn a bit more, but growth is going to be limited to ...an exclusive circle. All in all, I would say this will make the mid to long-term perspectives for BTC price conservative to bearish.

Tracking name and address through the blockchain would be incredibly dangerous... Would you want to be associated with say 10,000 bitcoins with full details on the blockchain on where to steal them?

Something like that will never work and if nothing is done to prevent something like that from happening, everybody will abandon ship. Maybe litecoin will get some attention than.

yes their is and cctv to go with as well as the most sophistigated sat coverage
 

you sound happy they went with core

It is not the subject of current block size increase debase. Very interesting idea! if some governments are involving at bitcoin mining, I can say bitcoin's price will be doubled in short time. Then the hash power will be dramatically increasing as well.

Well I seriously doubt that any private company can just say build a freeway without government consent in the US either (i.e. all governments control what can and cannot be done by major companies).

If the Chinese government has been taking over mining operations can you please show the evidence of this (because major players that are owned and controlled by Americans aren't complaining about this)?

They must have thougjt it was Josh Garza trying to sell them a hashlet

The thing that I do see here, is a lot of misinformation and a lack of communication going around. I like the fact that CIYAM can contest most of these false claims and comments. I would have wanted to see some more Chinese miners coming on here and explaining their side too.

There are a lot of conspiracy theories going around, and these things tend to cause friction and trust issues. If I was a investor from the western world and I hear that the gears of a technology are mostly operated by a traditional Eastern Communist country, I will have some concerns.

On the other hand, if I were a investor from the other side, and I see that the system development and maintenance are mostly being dominated by a group of Capitalist western countries, I would also have concerns.

Communication coming from both sides will decrease the gap between this divide and the Core group are doing just that.  

The PRC is the very definition of state capitalism.  No great enterprise is undertaken without the direct consent of the government.  Small business isn't a threat to state capitalism and thus is left to its own devices.  Anything which threatens the monopoly of the state is destroyed.  They only deploy the "jackboots" as a last resort.

Hear Hear!

I heard that is a fake news and the fact that someone is spreading fake news indicated that the political campaign has entered china  

Miners might not want to change because a 1MB fixed block forever will make them rich, especially now the hard competition already made their profit very thin

However, I see this as a future problem that miners overtake the control of bitcoin and there is no way to fight against it

Imagine that world government have implemented new rules to regulate all large mining pools so that they only can process non blacklisted transactions (blockchain analysis is the new trend), and all the transactions must be traceable to its owner with name and address, this will make the trace highly practical from AML and KYC point of view. As a bitcoin user, you just can not do anything about it, because all your transactions are processed by government regulated mining nodes

You can change to another algo like skrypt, then again those large mining pools will be regulated if there are just a few, and with a lower hash cost coin, the value of the coin also goes down until it reaches mining cost

So it is very important to decentralize the mining, since controlling the mining nodes is much more effective than control the other part of bitcoin ecosystem, it is equal to control the central bank of a monetary system. We know that central bank is independent from the government, in this case, large mining pools have no way to reach that kind of independence

The government has little to do with the vast majority of businesses in China (and in fact most small businesses don't even pay tax).

One thing you should learn about Chinese is that they rarely co-operate with each other (which is why they are well known not to work well in teams).

Perhaps you should actually come and visit to "see for yourself" that there aren't troops in jackboots walking around controlling what is going on. 

When Satoshi was talking about buying porn and using vending machines, he wasn't thinking about a high-class settlement layer for the hoy-polloi. It seems he didn't know what we'd end up using Bitcoin for.

Is there any business in communist China that the government doesn't control?  Is there anyone in communist China with money that the government doesn't condone?

It seems the Chinese communist government is nothing but a state capitalist monopoly with the goal of suppressing any dissent whether it be political or economic.

sry smallblockers: https://bitcointalksearch.org/topic/m.13632610

As far as I can tell, the source is a post by HaoBTC's CEO. On reddit, "KoKansei" claims reading the post and the discussion, you find the writer saying it's his personal opinions, not HaoBTC's official position he was expressing. (https://www.reddit.com/r/btc/comments/41zk79/chinese_pools_withdraw_their_support_for_classic/cz6etuv)

I don't understand Chinese, maybe someone who can, can opine on what seems to be factual and what opinion in the source:
https://www.bikeji.com/t/3144

This is stupid to be honest. You aren't looking at it the right way. Not wanting a block size increase now is precisely the correct long term vision, because you stick with a solid core until we have LN, then we don't need to raise block size again, unless the technology all over the world is advanced enough that everyone could run a node with their computer if you raised it.