Bitcoin IS basically DESTROYED - page 38.

mayax

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Quote from: somacoin on May 08, 2016, 06:01:59 AM

Quote from: ABCbits on May 08, 2016, 05:59:57 AM

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.

ABCbits

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Crypto Swap Exchange

If bitcoin price suddenly dropped to $1, chinise miners won't dominate mining and bitcoin will stay decentralized Roll Eyes

Quote from: mayax on May 08, 2016, 05:26:01 AM

Quote from: markj113 on May 08, 2016, 05:19:33 AM

Quote from: PinkLlama on May 08, 2016, 05:17:17 AM

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.

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

somacoin

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Quote from: ABCbits on May 08, 2016, 05:59:57 AM

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.

somacoin

sr. member

Activity: 497

Merit: 251

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!

katrimans

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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.

somacoin

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Bitcoin is destroyed because China owns it?
Does it matter if most miners are in the USA or now China?

coingamblingreviews

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★Bitcoin Gambling Reviews★

Why would they do anything detrimental to Bitcoin? It would hurt them more than anyone financially.

mayax

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Quote from: markj113 on May 08, 2016, 05:19:33 AM

Quote from: PinkLlama on May 08, 2016, 05:17:17 AM

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.

The centralization is a reality.

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

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

BTcoint

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Activity: 553

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Quote from: markj113 on May 08, 2016, 05:19:33 AM

Quote from: PinkLlama on May 08, 2016, 05:17:17 AM

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 Huh

??

youyou_

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more efficient solutions are emerging. Bitcoin was just a step.

markj113

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Quote from: PinkLlama on May 08, 2016, 05:17:17 AM

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

PinkLlama

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

From Above

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Quote from: TPTB_need_war on May 05, 2016, 10:19:55 AM

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

Topic: Bitcoin IS basically DESTROYED - page 38. (Read 47260 times)