Topic: China can destroy bitcoin (Read 3607 times)
yes, that is really true!
It is possible that China has a great impact on bitcoins but not to the extent that it can be destroyed, and if bitcoin is destroyed, they are also the ones who suffer the most.
This is true, if China could control most of the bitcon, they would not sell their asiki so actively, but would work on their production, and control most of the bitcoin
I don't think any nation can destroy Bitcoin. It would make an impact or some damage in a specific time, and it will be heal. And there is no exception for that. China can not destroy Bitcoin, which I can guarantee you. Do not be afraid of. Beside China, there is the rest of the world support Bitcoin. So think about it.
I do not think China can destroy the existence of bitcoins, they can only limit its activity to a certain degree.
I don't think China can destroy bitcoin as we all know that bitcoin is decentralized. Sure, China can harm bitcoin in some ways but that's all it can do. People and countries from all over the world still have the power to hold on to bitcoin even if China aims otherwise. Partial damage, yes but total damage, I would say no.
very interesting when we hear that academics from Princeton University and academics from the University of Florida have concluded that China has the potential to threaten stability, internet infrastructure, security and bitcoin development.
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
in the world of mining, China dominates using ASIC vendors. China controls mining hashrate, so they affect the bitcoin protocol.
Is there a solution to stop that potency ?
yeah but how all mining farms in China could agree to destroy Bitcoin network???
China is very technological and has more influence on bitcoin in front of other countries, since bitcoin production is more concentrated there, and after all, only China will not be able to destroy bitcoin, it can only affect the cost of bitcoin.
I think, all those countries cannot destroy bitcoin. because bitcoin is difficult to predict circulation, and manage it. then the government is difficult to plunge especially people who want to destroy. it will be difficult.
YES, china is the biggest miners pool, there are many miners in china, and they can control the hashrate of mining, i dont know how china can be the biggest mining farm in the world
China is very technological and has more influence on bitcoin in front of other countries, since bitcoin production is more concentrated there, and after all, only China will not be able to destroy bitcoin, it can only affect the cost of bitcoin.
In order for me to be able to do something like that, because the progress of bitcoin is very satisfying, it's very easy for you to use bitcoin / rival from bitcoin itself.
I don't think China want bitcoin to be destroyed.
I disagree to this, China can not destroy bitcoin. For me, the one thing that China can destroy is the opportunity of its people to earn profit from bitcoin. China have already banned bitcoin by now, but I am sure they are learning how to deal with it.
Without regulation, and that of course defeats bitcoins objectives, there is no way to control bitcoin. As others have stated huge mining setups can influence things -for the more coins you mine and own the greater influence you can exert. So no they can't destroy bitcoin but can cause it big problems.
not destroy it but cause it some damage
algo change could take care of that
shame it wasn't kept to gpu mining asics are annoying
it is difficult to destroy bitcoin but if they can damage it ,in future isn't it possible to destroy? algo change could take care of that
shame it wasn't kept to gpu mining asics are annoying
No one can stop bitcoin because it is already established its name and it can never be stopped by someone or some country whatever reasons it maybe, and it will never be gone for sure. People need it nowadays.
Even IF China could really do it, this country would never bring harm to Bitcoin. There are millions of Chinese people that use the cryptocurrencies. They are looking for the best future and support BTC.
I do not think China will destroy bitcoin. China banned BTC but still, they have a soft corner for blockchain technology. As we know for BTC mining china is in top position. Most of its people have been connecting with BTC. So China will not ruin bitcoin as its huge population belongs bitcoin.
actually if china want they can do some harm to bitcoin.but if chinese bitcoin mining get ban then company will shift to others country.
and china will never destroy bitcoin.we will see china will accept bitcoin very soon.
and china will never destroy bitcoin.we will see china will accept bitcoin very soon.
if we think more clearly again maybe China wants to be a competitor of Bitcoin itself by launching technology technology and may be threatening to stabilize prices
China once banned bitcoin, and cryptocurrency, and of course that affected the price. well, but I don't think it will destroy bitcoin. we know that bitcoin users are not only in China, but throughout the world. Whenever you have a large share in something, you can always use that dominant position to threaten the system. However, I don't think that China or any other large player would destroy Bitcoin because employing a huge level of resources to destroy the whole system would amount to the attempt of suicide. Considering the current global situation, decreasing GDP of China and trade war is something that they would like to focus instead of destroying Bitcoin.
Chinese blanket ban on Cryptocurrencies has been somewhat of strategic even as companies such as Bitmain have become some of the biggest crypto currencies in the world. China simply plans to harness the crypto wave in their favor and in full control of their central bank. In China, Tech companies and and blockchain itself are more shaped by the will of the government and than maybe in any other country. China's central bank has a more sophisticated understanding of how to leverage centralized blockchain than many other countries.
if we think more clearly again maybe China wants to be a competitor of Bitcoin itself by launching technology technology and may be threatening to stabilize prices
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