Topic: blockchain.info now shows CHINA mining 54% of BTC - page 4. (Read 5898 times)
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 thought bitcoin was banned in China? World 51% Attack 
How to raise the interest in something to the next level? make it ilegal and bang you go it. 
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.
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.
...
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)
http://www.blockmeta.com/miner/TangPool
Tangpool is in China and takes up 2.29% of the hashrate.
The top four miners (percentage of recent block wins / hashing power):
AntPool: 20%
F2Pool: 16%
BW.COM: 11%
BTCChina Pool: 7%
Total China: 54%
AntPool: 20%
F2Pool: 16%
BW.COM: 11%
BTCChina Pool: 7%
Total China: 54%
I am quite sure the Chinese do not own 54% of global hashing power. They are pools and they are dominating because miners point their hashing power to those pools.
Pools come and go. Most only dominate for a few months and then slowly fades away. Look at where BTCGuild and GHash are now. How about ASICMiner?
Centralized decentralization. If they teamed up that entity would control the present and future of bitcoin; I don't like it.
The only theoretical problem could be if Chinese government took control over all the Bitcoin mining farms in China and 51% attacked Bitcoin.
But I can understand why these Bitcoin mining farms are located there - cheap electricity, labour and no vat on hardware
Not surprising though. Seeing that their location is ideal for a mining business, it is not anymore surprising that most of the farms are located in China. Low electricity costs, cheap manpower services, and cool climate (perfectly ideal for your miner's cooling needs) they will still make a profit even if the price of btc drops.
Is there mining hardware produce from china ?
Not really good news! But they also have the biggest trade volume...
Centralized decentralization. If they teamed up that entity would control the present and future of bitcoin; I don't like it.
They are not much organized. So there is nothing to fear. But I am sure that a lot of mining operations will cease to exist if the exchange rate doesn't go above $400 in the next few months.
Some areas where these "mega" farms are have power as cheap as 2 cents. Bitcoin can drop in price under $200 and they still make a profit. Unfortunately the USA for the most part has more expensive power + the added shipping costs of the miners from China.
They are not much organized. So there is nothing to fear. But I am sure that a lot of mining operations will cease to exist if the exchange rate doesn't go above $400 in the next few months.
I am not surprised by this at all. They have cheap electricity ...moderate to cold temperatures... diciplined workforce and possibly cheaper too.
Just look at the Chinese mining operations in Africa. {They go in there, extract the raw minerals, export it back to China and refine them there... the country where they mined the raw minerals, are stripped bare and a few roads are build to compensate for their loss... the rest of the compensation, goes to some elite individuals with political connections and the rest of the country stay poor.
I have watched a documentary on youtube {will look for it} where they state that most big companies in the USA are owned or in debt to the Chinese ...in affect these companies are mere puppets controlled by mayor Chinese shareholders.
Gavin said that there are counter measures in place to prevent 51% attacks... so I am not really worried about that.
Just look at the Chinese mining operations in Africa. {They go in there, extract the raw minerals, export it back to China and refine them there... the country where they mined the raw minerals, are stripped bare and a few roads are build to compensate for their loss... the rest of the compensation, goes to some elite individuals with political connections and the rest of the country stay poor.
I have watched a documentary on youtube {will look for it} where they state that most big companies in the USA are owned or in debt to the Chinese ...in affect these companies are mere puppets controlled by mayor Chinese shareholders.
Gavin said that there are counter measures in place to prevent 51% attacks... so I am not really worried about that.
...
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)
i think it was time that china became the biggest miner in the world, the electricity price alone ensures that. besides the labor cost is low there so it is all profitable 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)
That is bad news , them getting so much of hashrate 
Is there any evidence, actual evidence, that chinese miners tend to collude?
Indeed china is mining a lot more than US now due to rules regulation and their BS so more stopped due to this along with the ever growing costs of energy prices over their. China is where a lot of equipment is being made and sourced privately from big corporate investors and will continue to grow in number no doubt will go to 60% or even more of the mining.
A you surprised? Just check the electricity price and labour cost plus miners are manufactured there too.....
The electricity prices are low, but comparable to some other countries like Canada or India. Cheap labour might be the deciding factor here. It's nice to see they weren't deterred by tanking BTC prices in the recent months and kept their mines running.
It is not hard to believe that China mines so much of the coins since they produce most of the miners. I would imagine that the cost savings on shipping alone makes a huge difference.
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