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Topic: Bitcoin IS basically DESTROYED - page 38. (Read 47245 times)

legendary
Activity: 1470
Merit: 1004
May 08, 2016, 07:27:13 AM
#12
Trading volume for chinise exchange is a joke, it's filled with fake trade Tongue

I think not only does most volume come from China, most mining takes place in China.
China China. Was Satoshi Nakamoto an American who intentionally chose a Japanese Pseudonym to mock China?
Will we ever know?
Does the US love Bitcoin more than China?
Bitcoin is doing well, you're right.


BTC will do right when there will be decentralized exchangers.
legendary
Activity: 2870
Merit: 7490
Crypto Swap Exchange
May 08, 2016, 06:59:57 AM
#11
If bitcoin price suddenly dropped to $1, chinise miners won't dominate mining and bitcoin will stay decentralized Roll Eyes

Why would the fact that China is basically controlling mining do anything to Bitcoin?

The whole concept of bitcoin was based around decentralization.

If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point

China owns over 80% from the mining and the trading market as well. China owns over 95% from BTC transactions too. Smiley

The centralization is a reality.


https://blockchain.info/pools?show_adv=no

http://bitcoincharts.com/charts/volumepie/

Trading volume for chinise exchange is a joke, it's filled with fake trade Tongue
sr. member
Activity: 497
Merit: 251
May 08, 2016, 07:01:59 AM
#11
Trading volume for chinise exchange is a joke, it's filled with fake trade Tongue

I think not only does most volume come from China, most mining takes place in China.
China China. Was Satoshi Nakamoto an American who intentionally chose a Japanese Pseudonym to mock China?
Will we ever know?
Does the US love Bitcoin more than China?
Bitcoin is doing well, you're right.
sr. member
Activity: 497
Merit: 251
May 08, 2016, 06:58:25 AM
#10
Perhaps an american™ fork will appear that bans all Chinese nodes.  (If Trump is president and has a good technological advisor), that is. Bitcoin-West being the result. China then running its own fork. Oh I guess China does love Bitcoin after all #
who deserves controlling the Bitcoin network? Isn't this intentional?
Arms race.  Competition means more nodes being deployed.  Don't you worry folks, Bitcoin's doing just fine.

Deploy more nodes if you don't like the Chinese doing it more than yourself!
hero member
Activity: 882
Merit: 500
May 08, 2016, 06:53:02 AM
#9
To my honest opinion as bitcoin works right the possibility for it to disappear isn't possible as many users around the virtual world already embrace bitcoin no wonder where it is mined.
sr. member
Activity: 497
Merit: 251
May 08, 2016, 06:38:19 AM
#8
Bitcoin is destroyed because China owns it?
Does it matter if most miners are in the USA or now China?
legendary
Activity: 1043
Merit: 1032
★Bitcoin Gambling Reviews★
May 08, 2016, 06:33:19 AM
#7
Why would they do anything detrimental to Bitcoin? It would hurt them more than anyone financially.
legendary
Activity: 1470
Merit: 1004
May 08, 2016, 06:26:01 AM
#6
Why would the fact that China is basically controlling mining do anything to Bitcoin?

The whole concept of bitcoin was based around decentralization.

If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point

China owns over 80% from the mining and the trading market as well. China owns over 95% from BTC transactions too. Smiley

The centralization is a reality.


https://blockchain.info/pools?show_adv=no

http://bitcoincharts.com/charts/volumepie/
hero member
Activity: 553
Merit: 500
May 08, 2016, 06:21:31 AM
#5
Why would the fact that China is basically controlling mining do anything to Bitcoin?

The whole concept of bitcoin was based around decentralization.

If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point
So how many years from now china will own 98 % of mining power HuhHuh??
hero member
Activity: 596
Merit: 500
May 08, 2016, 06:20:50 AM
#4
more efficient solutions are emerging. Bitcoin was just a step.
legendary
Activity: 2254
Merit: 1043
May 08, 2016, 06:19:33 AM
#3
Why would the fact that China is basically controlling mining do anything to Bitcoin?

The whole concept of bitcoin was based around decentralization.

If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point
full member
Activity: 186
Merit: 100
May 08, 2016, 06:17:17 AM
#2
Why would the fact that China is basically controlling mining do anything to Bitcoin?
hero member
Activity: 700
Merit: 520
May 08, 2016, 06:15:25 AM
#1
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.

I honestly believe this is the truth.  What is there to add ?

~CfA~


UPDATE: https://bitcointalksearch.org/topic/m.14789764
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