China can destroy bitcoin - page 2. | Bitcointalksearch.org

Dondont

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Quote from: airdagon on October 16, 2018, 05:15:57 PM

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 ?

depending on our perceptions, the problem is we always see the worst possibility of an opportunity and innovation that exists, that is what prevents us from moving forward, while china? This does not prevent them from continuing to develop it.

it would be better if we see good potential that can be developed and eliminate pessimism

Asawakobana2017

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Quote from: Bloodseekers on November 10, 2018, 06:17:21 PM

Quote from: airdagon on October 16, 2018, 05:15:57 PM

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 ?

I think that's wrong, Miners spread throughout the world so if china stop for mining, doesnt matter. And about bitcoin like miner bitcoin also spread throughout the world, so cant. Cina cant do that. And we already know bitcoin is decentalized, no one can control it. So about news, or statement about that don't be provoked

I agree on that China cannot really destroy bitcoin. That e are so many country that is now still believing in bitcoin and i think China is only one of many country that used bitcoin, so even if China banned bitcoin. I think bitcoin will not die at all maybe it can give a huge down as effect of banning but it can't really make or drag bitcoin down.

Rolley Dragon

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China is dubbed a country full of ambitions, they will not miss the opportunity to help them become world hegemony, because bitcoin is a huge advantage if they develop it.

Bloodseekers

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Quote from: airdagon on October 16, 2018, 05:15:57 PM

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 ?

I think that's wrong, Miners spread throughout the world so if china stop for mining, doesnt matter. And about bitcoin like miner bitcoin also spread throughout the world, so cant. Cina cant do that. And we already know bitcoin is decentalized, no one can control it. So about news, or statement about that don't be provoked

Rolley Dragon

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They can do it if they want, but that only damages their country, because they are destroying their own future.

WebTera

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I also agree with the opinion that China will not be able to destroy or have a serious negative impact on bitcoin. Of course, an attempt to destroy it will have a certain effect, but bitcoin is decentralized, and this gives it a huge advantage even in terms of production.

Elerntta

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I don't think that's possible. Yes, China is a major producer of bitcoin, but not the only one. And all the more all miners will have to conspire and destroy bitcoin, which they diligently extract. And what does it do?

wizardcrypto

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China have destroy bitcoin and make all of mining bitcoin project at their country have closed, many ICO investment was die by China have banned of regulation for ico investment at their country, China have more power fo destroy how bitcoin price.

l dont think china have the full power to destroy bitcoin yet despite their population are so much involve in bitcoin mining and other cryptocurrency activities in the crypto space .the cryptocurrency is not control by any Government . the china Government can only cripple altcoins that are built on the soil of china who founders and team are residence or citizen of china . those ICO that die most are scam and not genuine intention of entering the crypto market most of them dont even have directions of what they intend to achieve. there are ICO that are still doing well irrespective of the previous china banned.

JeBro

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Living is easy with eyes closed ...

China will not be able to destroy Bitcoin. The reason for this is the decentralization of bitcoin. If mining bans begin in China, the miners will move to other parts of the world. Moreover, Russia may soon become the leader of mining, where there is a huge untapped potential of mining capacities.

alexyong342

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Hopefully JiHanWu from bitmain dont allow that to happen, if within his means

seriously, China is facing a crisis as its not handling crypto well, same goes with all govs

China Crisis is about the power of guesstimating, and goes deeper into the art of asking the right questions. China Crisis shows how asking questions can help you build an edge. - https://www.altcoinsidekick.com/blog/china-crisis

kalel18

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china can affect the world of BTC but it will not break. Let's say they're one of the most powerful countries in the world. As soon as I know that china loves business in this business, it is a stricto when it comes to business but we do not know that they may be one of the BTC's supporters someday to further expand the BTC.

airdnasxela

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Quote from: airdagon on October 16, 2018, 05:15:57 PM

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 ?

I think China can actually do that but I don't think they will do it. It is not because they want to assert more superior power in terms of economy when it is compared to United States but I don't think they will do it simply because it is not worth it after all. It will cost them a lot to destroy bitcoin, and china is not just one entity but composoint of billion of persons and this people would have many opinions about if they will destroy bitcoin. So I am surely disagree that there will be come a time that they will destroy it because they will not take the risk just for them to assert supremacy because they can do it on other things.

COINCOLA.COM

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I believe bitcoin is currently used as an economic/political piece on the international level. For the moment, there is no way for the U.S to accept the dominance of China as a majority holder of this currency. Pushing an alternative solution via DLT might be a logic route or even just use brute force to shut down any usage by pushing new legislation and blockage.

MrCrank

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Quote from: airdagon on October 16, 2018, 05:15:57 PM

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 ?

I don't see that this is problem. This is opinion only because China have a lot miners. It's can't destroy bitcoin.
China have ASIC's plants but it has a positive effect.

MMS2017

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The mining of the crypto is normally happening is China because of the low energy cost and electricity is so cheap there so for me to start mining in china is good but if we look at the price so i am unable to mine there because the cost can be more than the mine and if we wait for the right time we can start mining in China so some people think that It will opposite affect bitcoin but China is crypto friendly and they would not destroy bitcoin.

Cruxer

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Bitcoin FTW!

Quote from: airdagon on October 16, 2018, 05:15:57 PM

China can destroy bitcoin

china can destroy whole world or more likely any country they want sending small teams of 1 million soldier each
will they do that? no they won't because any scenario possible is not guaranteed, some are more liekly some less, this one by you is less

bagsat

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Maybe china can damage or can make a lot of difference with regards of bitcoin trading for there the ones of being the most traders in bitcoin. But can destroy, maybe they can for even we dont know where bitcoin came from. Own opinion.

Zadeket

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Quote from: syntac on November 03, 2018, 11:14:23 AM

the best way possible, superpower countries should be able to limit the scope of the roof indirectly China monopolize the world economy, which is not good for bitcoin, so it is very vital risk. I hope my hope is that China will become aware of their power, and can provide an opportunity for Bitcoin to run normally and develop for the benefit of the world community.

China with its enormous economic power, supported by a population of 1.3 billion, not to mention Chinese citizens living throughout the world, is certainly a force that can rival bitcoin as a digital currency, because China will launch its own cryptocurrency supported by government.

tokexchain

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51% is what we are really talking about, right?

China cannot destroy Bitcoin but it could damage is, we suppose. But why would they anyway? Surely this would be like killing the Golden Goose...

In time with the difficulty rise, it will be difficult for some to continue mining if they pay for electricity, may mining rigs on that note run on Hydropower and reusable resources so this is of little concern.

No one really knows the future of Bitcoin or the Altcoins, perhaps China may switch to other Cryptos if BTC mining becomes unprofitable?

syamster

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Quote from: kucritt on November 03, 2018, 09:33:15 AM

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

If it is true then they are working and they are promoting bitcoin mining, so we should be happy than being worry, according to me bitcoin is independent and no country has any control over this currency now, because it is now a networking which is spreading all over the world. People are considering it worth investing now I am sure it is gona is our next regular currency.

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