Topic: blockchain.info now shows CHINA mining 54% of BTC - page 3. (Read 5897 times)
The Chinese could have just ignored Bitcoin instead of trying to become the worlds Bitcoin miner. Ignoring it would be much worse. They deserve the rewards because they're a hard working studious people. Westerners think they can sit on their ass, eat hamburgers and get fat while the world pours riches at their feet. The Chinese are working for it. Good for them.
The biggest btc mine in the world is right here
https://bitcointalksearch.org/topic/--969823
You should see the massive massive mining infrastructure and get a feeling what it likes.
https://bitcointalksearch.org/topic/--969823
You should see the massive massive mining infrastructure and get a feeling what it likes.
The mining farm is strategically placed too. It is placed on the highlands where the temperature is cooler that helps the miners in terms of cooling. Electricity costs are also cut down because of the "natural cooling system" the miners have in that place.
Chinese pool ≠ Chinese miners
There are many other countries people who connect their miners to these pools to mine.
There are many other countries people who connect their miners to these pools to mine.
I've been guilty of this thing haha. I've connected my miners to a Chinese pool back in the days because I thought their "luck" percentage is way higher compared to those of the Western pools. Well I didn't have enough knowledge back then and I did that because of overthinking of profits.
Just because they happen to reside in the same arbitrary borders, doesn't mean they're some sort of hive-mind colluding to take over. Stop jumping at shadows. Also slightly disgusted with the double standard that no one cared when it was any other country with the largest hash rate (since there's obviously always going to be one with a higher hash rate than the others), but now just because it's China we should sound the alarm? Are you trying to come across as racists or something?
No one is being racist here, we are just speculating. China has been playing a major role in the bitcoin price development with their massive adoption, mining and dumping of coins. They can really change the price. 
Chinese pool ≠ Chinese miners
There are many other countries people who connect their miners to these pools to mine.
There are many other countries people who connect their miners to these pools to mine.
this is pretty alarming
not really..
after all. for atleast a year, maybe even 3+ years america was dominating the mining..
And a conspiracy among Chinese miners to launch a 51% attack is not logical as it would hurt their businesses as much as anyone.
Correct. It would definitely backfire to them in case a 51% attack happened.
Not sure if being racist or not, but why are we alarmed when the Chinese gets their name on the headlines?
...
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)
It doesn't alarm me and I don't really think it should be too surprising either. People make a lot of the fact that some Chinese exchanges have no trading fees, so that in thei ropinion means that the volume is fake. Nothing has proven this hypothesis though. China is about 2/7ths of the world populationwise, but they are an increasing power that is tech savvy. I don't know about the prices of electricity there, so can't comment, but I do know that they are pretty good at producing electricals, so can probably pump out a large number of ASICs at a reasonable price to start these farms.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)
It doesn't really remind me of the GHash.IO story, because they actually had control of more than 51% of the mining, so could have double spent if they had so chosen. Here the biggest pool is 20%, which is a good thing for securing the bloch chain from future 51% attacks.
China seems very big on any kind of external investment nowadays, they are buying up property, prescious metals and apparently are now dominating Bitcoin mining too.
And don't forget that China is one (if not the) leading countries in terms of economic growth. Based on what I've read, electricity costs and manpower services in China is way cheaper compared to Western countries. With that said, one can easily establish a mining farm and start hashing with lower risks of losing money in the end.
Just because they happen to reside in the same arbitrary borders, doesn't mean they're some sort of hive-mind colluding to take over. Stop jumping at shadows. Also slightly disgusted with the double standard that no one cared when it was any other country with the largest hash rate (since there's obviously always going to be one with a higher hash rate than the others), but now just because it's China we should sound the alarm? Are you trying to come across as racists or something?
...
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)
It doesn't alarm me and I don't really think it should be too surprising either. People make a lot of the fact that some Chinese exchanges have no trading fees, so that in thei ropinion means that the volume is fake. Nothing has proven this hypothesis though. China is about 2/7ths of the world populationwise, but they are an increasing power that is tech savvy. I don't know about the prices of electricity there, so can't comment, but I do know that they are pretty good at producing electricals, so can probably pump out a large number of ASICs at a reasonable price to start these farms.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)
It doesn't really remind me of the GHash.IO story, because they actually had control of more than 51% of the mining, so could have double spent if they had so chosen. Here the biggest pool is 20%, which is a good thing for securing the bloch chain from future 51% attacks.
China seems very big on any kind of external investment nowadays, they are buying up property, prescious metals and apparently are now dominating Bitcoin mining too.
Are you saying the China Government is mining or that people from China are mining?
I wouldn't link miners in China to the Chinese Government...if they're in the BTC community they are most assuredly with us, no? Unless of course you can confirm it's a Chinese government operation.
I wouldn't link miners in China to the Chinese Government...if they're in the BTC community they are most assuredly with us, no? Unless of course you can confirm it's a Chinese government operation.
Some independent players obviously not part of the Chinese Government. Yes, if they're into btc, they wouldn't make some regulations against bitcoin if they're indeed into bitcoin.
Well, as a Chinese, I haven't seen Bitcoin mining is getting so hot as it takes 54% of production.
It's wired, what I hear and see is people are dropping out Bitcoin for the dropping price.
It's wired, what I hear and see is people are dropping out Bitcoin for the dropping price.
...
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)
It's not "china" as in "China's government", it's "a bunch of random folks who happen to live in the nation where one third of all humans live". Nothing to be alarmed about. 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)
The biggest btc mine in the world is right here
https://bitcointalksearch.org/topic/--969823
You should see the massive massive mining infrastructure and get a feeling what it likes.
https://bitcointalksearch.org/topic/--969823
You should see the massive massive mining infrastructure and get a feeling what it likes.
he should start a mining farm
I think everyone is panicing over nothing. Do you guys really think any other country could compete in terms of mining power in the current economic climate? Absolutely everything is cheaper in China.
I think India could compete, they could manufacture and mine there.
this is slightly inaccurate. lots of US miners on f2pool for instance.
this is pretty alarming
not really..
after all. for atleast a year, maybe even 3+ years america was dominating the mining..
And a conspiracy among Chinese miners to launch a 51% attack is not logical as it would hurt their businesses as much as anyone.
Well it used to be UNITED STATES mining more than 50%, which was extremely alarming. You know, with America being anti-freedom and anti-privacy and pro-banks and pro-dollars and pro-FED and everything.
So it's a good thing this is balancing out, especially considering there more than 4 times less Americans than Chinese.
So it's a good thing this is balancing out, especially considering there more than 4 times less Americans than Chinese.
I'd be more comfortable if no single county dominated the hashing power of the network.
In seriousness, we do need to spread the hashrate a bit into more countries but there is no way that is economical.
Are you saying the China Government is mining or that people from China are mining?
I wouldn't link miners in China to the Chinese Government...if they're in the BTC community they are most assuredly with us, no? Unless of course you can confirm it's a Chinese government operation.
I wouldn't link miners in China to the Chinese Government...if they're in the BTC community they are most assuredly with us, no? Unless of course you can confirm it's a Chinese government operation.
Kind of curious if Chinese will manage to keep majority of coins they mine, or all the product ends up shipped overseas figuratively speaking...
There's not much they can do with it other than sell it. There's nothing approaching actual merchant use there. That was squished pretty rapidly when it looked like it might be brewing.
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