Topic: China Influences Cryptos, Like It or Not! - page 2. (Read 603 times)

i can't find the post now, but someone made a really interesting point about this: if bitmain dominates the ASIC market and they're installing antbleed backdoors in all their miners, is it theoretically possible that the chinese government could leverage bitmain in a 51% attack? bitmain could remotely shut down active antminer machines that aren't participating in the attack. that would seriously cut down the number of "honest miners" on the network in an attack scenario.


isn't the issue the chinese government? that is one single entity. granted, there is always internal disagreement within the CCP, but we're not talking about chinese people in general.

Yes because china is greedy when it comes to money they want always in hype in my opinion

it is true, that China is an influencer of the cryptocurrency trend, every policy made by China, the public will feel that it is big news
for example, the occurrence of a crash when China banned its population from participating in the ICO, then Bitcoin at that time experienced a crash of about 20%, then FOMO happened which caused BITCOIN to number 19k in November - December 2017

china is one person.. didnt you know?
....
oh wait china is billions of people all with their own brain.

so even if "china"(sarcasm of: one entity) did own the hashpower(which they dont). we can still rip apart that "china" is a single brain

..

so to all those with the typical racial mindsets that sound like they love to read reddit and watch fox news ill say this.

when you look into the sky and see these machines in the sky with a tail of vapour behind them. they are not chemtrail dispersing machines. they are called this thing known as an aeroplane. yea surprising right. people get on aeroplanes and actually leave a country. oh and there are over 200 countries. i know you have the belief there is only usa, mexico, russia and china and they all hate each other and people should avoid leaving america and instead need a wall. but if you get on a aeroplane you can travel AROUND the world. yes the world is also round, which i know surprises you also.

in short. try experiencing the diversity of the world and stop being narrow minded and spoonfed racial finger pointing crap
(p.s im white british.. in case your narrow mind auto-rages to want to declare that i must be chinese to point out racism against china)

we know, that crypto enthusiasm in China is very large, and the big factor that affects the value of bitcoin can reach 20K by the end of 2017 is a high volume of crypto trading in China.
they are greedy, and never satisfied, they also want to control bitcoin trading.

besides mining which is popular China is a big investor of bitcoin / cryptocurrency in the world, whatever the bitcoin / crypto turmoil in China can affect the value of bitcoin, that's right in my opinion

China is able to provide enough effect for the development of crypto, with Chinese influence the stock exchange trade is also a little worrying, this country makes the crypto value slightly shaken. Chinese games about crypto will be a lesson for crypto holders.

Agreed. China's miners left their country and spread out to other countries. They made their countries power over bitcoin decrease. But I still believe they have some miners left in their country. Bitcoin is untraceable. Well, maybe they'd be found through high bills for high power consumption?

China is one country that still restrict cryptocurrency for transaction. China right now is one strongest economic country in the world and i am believe when they untight regulation about cryptocurrency, china will influence cryptomarket and make a big movement in market

China is a very large country, therefore it is not a strange thing when China gives a big influence on the development of bitcoin worldwide. China cannot be separated because the transaction volume and market share owned by the Chinese state is very large.

that's the main issue they're talking about: mining concentration. they're talking about mining pools, which could potentially collude to 51% attack the network at the behest of the chinese government. it doesn't seem overly concerning since the pools don't actually control the miners. miners are operating from farms all over the world. how long could they control majority hash rate, and what damage would it really do?

i also don't see why the chinese government would be interested in 51% attacking bitcoin. what do they have to gain?

I don't see any problem. Only those who believe the western propaganda are scared of China. I don't see any problems with it.

Even if China is very harsh when it comes to Bitcoin but the reality is they have a massive adoption including miners. China cannot stop this craze and their citizens will always find a way to get involved in crypto, as one of the largest in terms of population no doubt that they can influence this space.

True. Chinese influence in cryptocurrency cannot be ignored. It can bane or boon depending on situation. Cryptocurrencies reach should be distributed evenly worldwide as possible but with China's big population/users, its a force to reckon. Any regulation China made, will affect the cryptos movement imho.

here we go again with a racial social drama that is normally only seen by reddit and fox news dramatists

let take antpool.
did you know they have multiple facitilities. multiple managements and work in multipl countries..
OMG SHOCK..

take the block rewards of all the blocks tagged as "antpool". you will see that there is not total random address per reward. nor is it a single address for al rewards. but instead a half dozen known addresses that scoop up the rewards.

each address depicts a different facility in a different location run by different management.
you can tell there are different management as some of the addresses are bech32 and some are legacy addresses. meaning each facility gets independence to choose to support a certain feature.. or not.

ill give you a tip. most facilities are just set up and then leased out. they are not controled by or managed by asians. the asians involvement is usually just to accept rent from whoever does manage the pools. and as said above those in control of what transactions get collated into a block and who pays the electric/rent bill is most of the time not even asian

here is another example take slushpool. which many have deemed as asian.. well thats actually not "china".. because its thailand managed

f2pool is an open pool for miners around the world. so although the main stratum ip is deemed as chinese they also have other stratums. and as i said the users are from around the world.

btcc.. well lets just laugh. they dropped from double digits to now below 1% of network hashrate. no need to waste too much time on them

the real funny part is that for years altcoin GPU farmers have been screaming how asics are evil due to asia... yet guess where ATI(AMD) GPU's come from..

many scream about the pools being asian.. yet iceland georgia, mongolia, ukraine, thailand, america never get mentioned as being the actual facility locations of pools tagged as asian.. because that destroys the narrative of the trump/fox news/reddit mindset kind of people who like to racially point fingers at china

if people could actually stop just copying and pasting badly wrote scripts of out dated propaganda. and actually use their fingers to search out the sources. it would shock them how easily they are led into such social drama

I don't doubt it if China influences crypto than any other country. Just consider the number of people in the country mining bitcoins with a lot of interest in pursuing crypto despite government hostility of crypto.

I was surprised by the recently released data that about 74 percent of bitcoins are mined in China. The country that has been struggling with cryptocurrency for the second year and forbade miners to use their cheap energy for mining cryptocurrency still has three quarters of bitcoin mining capacity. The state in this case does not want or does not want to control the implementation of its prohibitions?

it has been known that the asian continent has a major driving force when it comes to the crypto space with china leading the other countries, it can not be said with precision the exact reason for which china has been made the for runner of the technology in Asia but i sure do they have a major influence in the community

If no one is harmed by a handful of people there is no problem, even I know that China and the US are competing to increase their mining to master the big mining sector in the world, so it's not too dizzy for the news ...

Actually China wants to restrict crypto.  several times we hear news about China not allowing it's citizens to buy crypto.  Because it being decentralized currency with features of anomyty.  But China oppose all the democratic moves.  It can not like decentralized form of currency over which the government does know.