It is not easy yet to see if btc will succeed or die.
Interesting times ahead.
Topic: Bitcoin IS basically DESTROYED - page 36. (Read 47260 times)
Bitcoin is basically destroyed now with 70% of the mining controlled by China, soon to be 98+%, and with Blockstream implementing their SegWit soft fork Trojan Horse so as Matonis admits can end up increasing the 21 million coins limit.
The entire ecosystem is headed for a clusterfuck.
The entire ecosystem is headed for a clusterfuck.
I honestly believe this is the truth. What is there to add ?
~CfA~
These Chinese people really wants to conquer all things that includes money.
They are really greedy, anywhere that there is money they come into it.
Like the Capitalist West have been doing for years? The Chinese took a opportunity when they saw it and they used it... How can you blame them? If the same scenario {cheap electricity} existed in
the USA, people would do the same. The USA can dominate the Bitcoin scene tomorrow... They just have to shift a small percentage of their war funding to Bitcoin mining and focus Silicon valley
development on ASIC chip manufacturing and they can dominate the scene. You chose your own battles...
If you are really concerned about chinese bitcoin miners and china's greed in general, you can try to stop using chinese made stuff. But can you?
While the big US companies manufacture their stuff mostly in China™, what can you do? Nothing.
While the big US companies manufacture their stuff mostly in China™, what can you do? Nothing.
Why would they do anything detrimental to Bitcoin? It would hurt them more than anyone financially.
Why would anyone do anything to harm themselves? It's totally irrational and yet it happens all the time, so I can see bad stuff happening with China having too much say over bitcoin. As its fucked, WTB all your Bitcoins for $0.1 each.
PM
Lol you cant get 1 bitcoin for 0.1$ and i think bitcoin will never die and is not already destroyed.. we know china are more mining farm.. than other country.. but bitcoin will still alive and i htink the price will more valuable.. PM
As its fucked, WTB all your Bitcoins for $0.1 each.
PM
PM
~snip~
And why didn't this halvening thing work for LTC? Observe:
And why didn't this halvening thing work for LTC? Observe:
I think we are discussing about bitcoin don't go off topic with obama's stuff you mentioned, if you didn't know before the LTC halving you can check the graphs and see that the price of ltc was pumped very high before the halving because it was because of the panic buying which i think a similar scenario will happen also to bitcoin.
Bitcoin is basically destroyed now with 70% of the mining controlled by China, soon to be 98+%, and with Blockstream implementing their SegWit soft fork Trojan Horse so as Matonis admits can end up increasing the 21 million coins limit.
I honestly believe this is the truth. What is there to add ?
Maybe explain why you think soon 98+% mining to be controlled by China. You expect everyone to connect to Chinese pools ? Because much more than 2% of mining units is distributed outside of China (I guess at least 20%)...
And how can be 21 million coins limit increased when basically no one relevant even suggest increasing 21 million coins limit...
^^Are you currently smoking meth, or using auto-translate and can't be arsed with formatting?
There are companies outside working at China there inst only chineses with that all hash,sure who has the minin process at China are able to get money faster then other company working out from there,but as i know there isnt only chinese companies,and as i remember there were a big farm into USA and were the firsts companies working at bitcoin,besides that the early miners took several coins from others hands and some had sold and others misses the opportunity and sell a part and holding,21 milions bitcoins wont stand at chinese hands just,atleast i hope not otherwise bitcoin will be easy manipulated by them being good and bad .
Why would they do anything detrimental to Bitcoin? It would hurt them more than anyone financially.
The miners won''t want to do anything bad. But the Chinese govt is getting seriously weird ...
The miners won't want to do anything *unprofitable for the miners*, "bad" is neither here nor there.
Bitcoin is basically destroyed now with 70% of the mining controlled by China, soon to be 98+%, and with Blockstream implementing their SegWit soft fork Trojan Horse so as Matonis admits can end up increasing the 21 million coins limit.
The entire ecosystem is headed for a clusterfuck.
The entire ecosystem is headed for a clusterfuck.
I honestly believe this is the truth. What is there to add ?
~CfA~
These Chinese people really wants to conquer all things that includes money.
They are really greedy, anywhere that there is money they come into it.
So good, that Bitcoin has this pretty smart mechanism called difficulty, which will correct any changes of mining power within 2 weeks.
What's your point? Of course the difficulty will eventually go down if people stop mining. Duh.
China can have most of the bitcoins and most of the transaction but i don't think they will destroy bitcoin, what will they do after destroying bitcoin?
Count the IRL actual money you gave them, fart through silk, and laugh?
You do understand that when teh halvening commeth, mining will become unprofitable for most miners until roughly half of them go out of business, correct
There are some other factors that will affect the number of bitcoin minner being alive, if the price of bitcoin doubles then the miners will still get profit, there will be produced higher quality of miners and the mining will not be stopped by an halving.
Right. And if the price halves? Or do you think the price will double just because miners want it to double?
If the price halves then this is another thing, there will be a sell panic time, i think the price will be increases and maybe doubled but not immediately after the halving, check the last halving and you will see that the price was pumped to 1k after 6months or more after the halving
So you're telling me that since BTC price went up some time after the halvening, it went up *because* of the halvening? Just like Obama scratched his ear, and a few weeks after that thhere was an earthquake on the other side of the globe, therefore if he scratches his ear again, expect earthquakes?
And why didn't this halvening thing work for LTC? Observe:
http://s32.postimg.org/57ixtqzyd/Capture.png
Yeah, that vertical line is the halvening
Why would they do anything detrimental to Bitcoin? It would hurt them more than anyone financially.
The miners won''t want to do anything bad. But the Chinese govt is getting seriously weird - that Xi guy has given himself direct control of the army - it is the equivalent of Obama being President and Chairman of the Joint Chiefs of Staff as well. Previous Chinese leaders didn't feel the need to do this. The current one obviously thinks that a coup might be in the works which is why he is seizing control.
China can have most of the bitcoins and most of the transaction but i don't think they will destroy bitcoin, what will they do after destroying bitcoin?
Count the IRL actual money you gave them, fart through silk, and laugh?
You do understand that when teh halvening commeth, mining will become unprofitable for most miners until roughly half of them go out of business, correct
There are some other factors that will affect the number of bitcoin minner being alive, if the price of bitcoin doubles then the miners will still get profit, there will be produced higher quality of miners and the mining will not be stopped by an halving.
Right. And if the price halves? Or do you think the price will double just because miners want it to double?
So good, that Bitcoin has this pretty smart mechanism called difficulty, which will correct any changes of mining power within 2 weeks.
China can have most of the bitcoins and most of the transaction but i don't think they will destroy bitcoin, what will they do after destroying bitcoin?
Count the IRL actual money you gave them, fart through silk, and laugh?
You do understand that when teh halvening commeth, mining will become unprofitable for most miners until roughly half of them go out of business, correct
There are some other factors that will affect the number of bitcoin minner being alive, if the price of bitcoin doubles then the miners will still get profit, there will be produced higher quality of miners and the mining will not be stopped by an halving.
Right. And if the price halves? Or do you think the price will double just because miners want it to double?
If the price halves then this is another thing, there will be a sell panic time, i think the price will be increases and maybe doubled but not immediately after the halving, check the last halving and you will see that the price was pumped to 1k after 6months or more after the halving
China can have most of the bitcoins and most of the transaction but i don't think they will destroy bitcoin, what will they do after destroying bitcoin?
Count the IRL actual money you gave them, fart through silk, and laugh?
You do understand that when teh halvening commeth, mining will become unprofitable for most miners until roughly half of them go out of business, correct
There are some other factors that will affect the number of bitcoin minner being alive, if the price of bitcoin doubles then the miners will still get profit, there will be produced higher quality of miners and the mining will not be stopped by an halving.
Right. And if the price halves? Or do you think the price will double just because miners want it to double?
China can have most of the bitcoins and most of the transaction but i don't think they will destroy bitcoin, what will they do after destroying bitcoin?
Count the IRL actual money you gave them, fart through silk, and laugh?
You do understand that when teh halvening commeth, mining will become unprofitable for most miners until roughly half of them go out of business, correct
There are some other factors that will affect the number of bitcoin minner being alive, if the price of bitcoin doubles then the miners will still get profit, there will be produced higher quality of miners and the mining will not be stopped by an halving.
They are making a lot of money of this. And why does it matter anyway?
It is not like China itself owns all the miners. Most of the miners are owned by investors and they dont want to see their money fountain get shot.
It is not like China itself owns all the miners. Most of the miners are owned by investors and they dont want to see their money fountain get shot.
Again, you don't understand how mining works. Here:
1. You buy a "money fountain"
2. You work your "money fountain" for a few months.
3. You shut down your "money fountain" or buy a new one, because your old one is obsolete. Your old money fountain is a doorstop. If it didn't pay for itself in these few months, you're shit out of luck.
Jump to: