this is pretty alarming
use P2Pool.
Simple.
Topic: blockchain.info now shows CHINA mining 54% of BTC - page 2. (Read 5897 times)
I am not surprise that China has the most mining as the price of bitcoin explosion in the end of 2013 because of Chinese people.
...
This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page.
https://blockchain.info/pools
The top four miners (percentage of recent block wins / hashing power):
AntPool: 20%
F2Pool: 16%
BW.COM: 11%
BTCChina Pool: 7%
Total China: 54%
(Sort of reminds when GHash.IO briefly took 51% of mining)
This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page.
https://blockchain.info/pools
The top four miners (percentage of recent block wins / hashing power):
AntPool: 20%
F2Pool: 16%
BW.COM: 11%
BTCChina Pool: 7%
Total China: 54%
(Sort of reminds when GHash.IO briefly took 51% of mining)
Does antpool operate in China as well? I never knew that.
Wow, so was the price drop caused by the Chinese miners dumping their coins?
Perhaps, but since they aren't private and solo pool, you shouldn't assume they are all from China. The dump can happen for a variety of reasons. Many Chinese miners sells a portion of the coins and hold the rest. (judging by what the biggest mining farm's owner said)
Yes that is possible. China make cheap parts, so no wonder. They can make a miner in a 1/4 of price and use it with gain.
...
This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page.
https://blockchain.info/pools
The top four miners (percentage of recent block wins / hashing power):
AntPool: 20%
F2Pool: 16%
BW.COM: 11%
BTCChina Pool: 7%
Total China: 54%
(Sort of reminds when GHash.IO briefly took 51% of mining)
This is the first time I have seen blockchain.info showing separate stats for BW.COM at their mining stats page.
https://blockchain.info/pools
The top four miners (percentage of recent block wins / hashing power):
AntPool: 20%
F2Pool: 16%
BW.COM: 11%
BTCChina Pool: 7%
Total China: 54%
(Sort of reminds when GHash.IO briefly took 51% of mining)
Does antpool operate in China as well? I never knew that.
Wow, so was the price drop caused by the Chinese miners dumping their coins?
The biggest issue I see with the Chinese exchanges is them paying out interest, that scares the living hell out of me.
Seriously? If that's the case, they're headed for a major crash, and not too far in the future. That kind of thing only happens in a major bubble, or in the presence of incredibly stupid monetary policy. That's a sign as strong as no-income, no-assets, zero-down-payment low interest loans in the US mortgage market was.
They have some financial product, which pays huge interests in Chinese Xchanges.
They caused the btc crash from 600 USD to 150USD because they need to dump those coins to get more coins, therefore they have money to pay the high interests. It's harmful to btc.
I am not surprised that this is true .
But doesn't it create a vast imbalance of Bitcoins in the world due to this ?
I dont believe it would affect the imbalance of the amount of Bitcoin in the world. Most people withdraw it after mining and they may be from other parts of the world. The imbalance of Bitcoins would not affect anything IMO as Bitcoin can be used anywhere with internet. But doesn't it create a vast imbalance of Bitcoins in the world due to this ?
Kind of curious if Chinese will manage to keep majority of coins they mine, or all the product ends up shipped overseas figuratively speaking...
HA. China keep the bitcoin? Absolutely not a chance in hell. These same people setting up these huge mining rigs in China are the same people who pay people there $2 a day to mine gold in online games for 12hrs a day. What do they do with this gold? Sell it for USD. What do they do with bitcoin? Sell it for USD.
What else do they do? They scam and hack accounts in online games ALL THE TIME to steal valuable items and sell them off. Believe me if they could conjure a plan to steal your bitcoins, you won't have them anymore. If they had the capacity to work together to build a >51% mining network, they will be double spending faster than you can question it.
I am not surprised that this is true .
But doesn't it create a vast imbalance of Bitcoins in the world due to this ?
But doesn't it create a vast imbalance of Bitcoins in the world due to this ?
...
There are currently FOUR major groups mining BTC in China. At least for the moment, it is hard to see Bitmain/AntMiner (say) cooperate with the other three. The other are competitors, each of whom have Alpha-Men (Alpha-Women too perhaps) leading them, likely lessening a cooperation between them to misuse any mining concentration between them.
And should the .gov of the PRC decide these guys are a problem, well, they will be suppressed.
Should the .gov see them as a further tool for increasing their world power in general, I think we would have time to notice that. And act..., buying gold or other products and liquidating our BTC hoards.
* * *
Now if Intel or Toshiba or Samsung would start making ASIC chips (and machines), well, maybe setting up more shops in Iceland, Washington State, etc. might yield big, non-Chinese BTC mines.
There are currently FOUR major groups mining BTC in China. At least for the moment, it is hard to see Bitmain/AntMiner (say) cooperate with the other three. The other are competitors, each of whom have Alpha-Men (Alpha-Women too perhaps) leading them, likely lessening a cooperation between them to misuse any mining concentration between them.
And should the .gov of the PRC decide these guys are a problem, well, they will be suppressed.
Should the .gov see them as a further tool for increasing their world power in general, I think we would have time to notice that. And act..., buying gold or other products and liquidating our BTC hoards.
* * *
Now if Intel or Toshiba or Samsung would start making ASIC chips (and machines), well, maybe setting up more shops in Iceland, Washington State, etc. might yield big, non-Chinese BTC mines.
he should start a mining farm
Interesting, after the relaying of message of this thread.
http://www.8btc.com/54-percent-hashrate
Check out the Chinese comment to this thread!
this is slightly inaccurate. lots of US miners on f2pool for instance.
the other 46% maybe?
It is not said that China is the only player.
But maybe the biggest because their costs are smaller
this is slightly inaccurate. lots of US miners on f2pool for instance.
the other 46% maybe?
It is not said that China is the only player.
But maybe the biggest because their costs are smaller
The biggest issue I see with the Chinese exchanges is them paying out interest, that scares the living hell out of me.
Seriously? If that's the case, they're headed for a major crash, and not too far in the future. That kind of thing only happens in a major bubble, or in the presence of incredibly stupid monetary policy. That's a sign as strong as no-income, no-assets, zero-down-payment low interest loans in the US mortgage market was.
I don't think the government cant do much beyond what has been already done, china bitcoin is already marked as regulated.
The biggest issue I see with the Chinese exchanges is them paying out interest, that scares the living hell out of me.
Seriously? If that's the case, they're headed for a major crash, and not too far in the future. That kind of thing only happens in a major bubble, or in the presence of incredibly stupid monetary policy. That's a sign as strong as no-income, no-assets, zero-down-payment low interest loans in the US mortgage market was.
he should start a mining farm
Not really. Connectivity really sucks up there. It costs huge money to get good Internet and electrical service installed once you go north of the Arctic Circle.
I thought bitcoin was banned in China? World 51% Attack 
Bitcoin was banned 'officially' in China as it was in Russia. That means that it is not banned at all. People have still free access to it as you can see. You can't ban every pc or other device with internet connection after all.I don't know if anybody else has made this point yet, but Bitcoin has not been banned as such in China.
What they have done is banned banks, exchanges, and money transmitters from dealing in it. But if individuals use it to pay for things, or accept it as payment, or use state-sponsored electricity to run hashing farms, that's still okay under their laws.
Zero surprise there, as most of tech and profit harvesting industry is there, giving others small chances of making positive returns.
They are mostly not interested in bitcoin itself, but only on profit they can make mining it, but doing so it happened that they spread some awareness about bitcoin on their comunity
that quickly produced exchanges and other bitcoin related industry that makes them even more profit.
cheers
There are still a percentage of people preferring a pool based in China than one outside of it. They are mostly not interested in bitcoin itself, but only on profit they can make mining it, but doing so it happened that they spread some awareness about bitcoin on their comunity
that quickly produced exchanges and other bitcoin related industry that makes them even more profit.
cheers
Since IP address are not revealed to the public, we don't know how many percent of the miners in the pool are based in China. Blockchain.info's hashrate chart isn't the accurate.They base it on the average of a timeframe specified and calculate according to the amount of blocks found. If the biggest pool experience a very bad luck, it is possible that the hashrate share would be lower. There are plenty of cheap warehouses and electricity in China too. With alot of ASIC manufacturer based in China, they can buy it in bulk without experiencing huge shipping delays.
Zero surprise there, as most of tech and profit harvesting industry is there, giving others small chances of making positive returns.
They are mostly not interested in bitcoin itself, but only on profit they can make mining it, but doing so it happened that they spread some awareness about bitcoin on their comunity
that quickly produced exchanges and other bitcoin related industry that makes them even more profit.
cheers
They are mostly not interested in bitcoin itself, but only on profit they can make mining it, but doing so it happened that they spread some awareness about bitcoin on their comunity
that quickly produced exchanges and other bitcoin related industry that makes them even more profit.
cheers
he should start a mining farm
Jump to: